每经AI快讯，有投资者在投资者互动平台提问：江西石磊氟材料有限责任公司目前六氟磷酸锂的产能 和规划产能是多少？ 新宙邦（300037.SZ）9月28日在投资者互动平台表示，公司投资的石磊氟材料现有六氟磷酸锂产能为 2.4万吨/年，为持续提升竞争力，石磊氟材料正积极通过技术改造挖掘潜能，待2025年底技改完成后， 六氟磷酸锂规划产能可达3.6万吨/年，后续看市场需求仍会有进一步的扩产计划。 （文章来源：每日经济新闻） ...

Core Viewpoint - The company is actively enhancing its competitive edge in lithium hexafluorophosphate production and solid-state electrolyte research, with plans for capacity expansion and increased collaboration with downstream customers [1][1][1] Group 1: Lithium Hexafluorophosphate Production - The current production capacity of lithium hexafluorophosphate at Shilei Fluorine Materials is 24,000 tons per year, with plans to increase this to 36,000 tons per year by the end of 2025 following technological upgrades [1][1][1] - The company is considering further expansion plans based on market demand after the initial capacity increase [1] Group 2: Solid-State Electrolyte Research - The company has invested years into solid-state electrolyte research, with over 30 patent applications related to this field [1][1][1] - A subsidiary, Shenzhen Xinyuanbang Technology Co., Ltd., has established a comprehensive research, testing, and production platform for solid-state electrolyte materials, achieving mass production at a scale of hundreds of tons [1][1][1] - Positive customer feedback has been received, and the company is actively collaborating with downstream customers to advance industrial applications [1] Group 3: Semiconductor Chemicals - The company has built trust with numerous mainstream customers in the semiconductor chemicals sector through its experience in fine electronic chemicals, high-quality products, and a robust quality management system [1][1][1] - The categories, shipment volumes, and sales of semiconductor chemicals are steadily increasing [1] - The company's fluorinated cooling liquid products are primarily used for semiconductor chip process cooling and data center immersion cooling, supported by strong technical capabilities and sufficient production capacity [1][1][1]

Core Viewpoint - The Chinese lithium battery industry is accelerating towards high-quality development, with significant investments and project expansions in various segments, particularly in lithium batteries and solid-state batteries, indicating a strategic shift towards advanced production capabilities and market positioning [4][7][10]. Investment and Project Expansion - From January to August 2025, the Chinese lithium battery industry chain signed and initiated 183 new projects with a total planned investment of 400 billion yuan, showcasing a trend of "accelerated high-end expansion and clearance of low-end capacity" [4][7]. - The expansion projects include 54 for lithium batteries and 23 for solid-state batteries, representing 30% and 13% of the total planned expansion projects, respectively [4]. - Major investments are led by top companies like CATL, BYD, and Enjie, focusing on traditional segments, while emerging sectors like solid-state and sodium batteries attract new capital and startups [7][10]. Regional Distribution - The expansion projects are primarily concentrated in East and Central China, with significant activities in the Yangtze River Delta and Hubei-Hunan regions, leveraging local resources and manufacturing capabilities [10]. - Internationally, projects in Malaysia, Indonesia, and Hungary are gaining traction, driven by favorable geopolitical conditions and local demand for electric vehicle components [10][11]. Specific Investment Highlights - The planned investment in the lithium battery segment exceeds 40% of the total, with solid-state batteries emerging as a new growth area with a planned investment of 35 billion yuan [7][8]. - Notable projects include a 331 billion yuan investment in Guizhou for phosphate iron and lithium production, and a 243 billion yuan investment by Qingshan Group in another Guizhou project [8][10]. - The negative electrode materials sector is also seeing significant investment, with 28.6 billion yuan planned, focusing on technology upgrades and overseas expansion [8]. Emerging Technologies and Trends - Solid-state batteries are becoming the most popular investment track, driven by technological advancements and accelerated mass production [7][8]. - The industry is witnessing a shift towards more sophisticated materials and production techniques, with companies like Dongchi New Energy planning a 5.2 billion yuan sodium battery project [7][10].

证券日报网讯新宙邦（300037）9月26日在互动平台回答投资者提问时表示，公司在固态电解质领域的 研究投入多年，截至目前，新宙邦(含子公司)固态电解质相关专利申请累计超过30件。公司的参股公司 深圳新源邦科技有限公司已建立全体系固态电解质材料研发、测试及生产平台，并已实现百吨级量产和 销售，客户反馈良好，公司也正积极与下游客户合作推进进一步的产业化应用，按照客户未来需求对产 能进行积极布局，以应对市场的挑战和机遇。 ...

Core Viewpoint - The company has made significant investments in solid-state electrolyte research, with over 30 patent applications filed to date [1] Group 1 - The company's subsidiary, Shenzhen Xinyuan Bang Technology Co., Ltd., has established a comprehensive research, testing, and production platform for solid-state electrolyte materials [1] - The company has achieved mass production and sales at a scale of hundreds of tons, receiving positive feedback from customers [1] - The company is actively collaborating with downstream customers to promote further industrial applications and is strategically planning capacity based on future customer demand to address market challenges and opportunities [1]

Company Overview - Shenzhen New Zobon Technology Co., Ltd. was established on February 19, 2002, and listed on January 8, 2010. The company specializes in the research, production, sales, and service of new electronic chemicals and functional materials [1][2] - The main business revenue composition includes battery chemicals (66.43%), organic fluorine chemicals (17.03%), electronic information chemicals (16.03%), and others (0.50%) [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 4.248 billion yuan, representing a year-on-year growth of 18.58%. The net profit attributable to shareholders was 484 million yuan, up 16.36% year-on-year [2] - Since its A-share listing, the company has distributed a total of 2.149 billion yuan in dividends, with 1.121 billion yuan distributed in the last three years [3] Stock Performance - As of September 26, the stock price increased by 2.01%, reaching 49.11 yuan per share, with a total market capitalization of 36.723 billion yuan. The stock has risen 32.57% year-to-date and 48.46% over the past 60 days [1] - The stock's trading volume on September 26 was 322 million yuan, with a turnover rate of 1.23% [1] Shareholder Structure - As of June 30, the number of shareholders decreased by 18.69% to 38,200, while the average circulating shares per person increased by 21.66% to 14,141 shares [2] - The top ten circulating shareholders include notable funds such as Dongfang New Energy Theme Mixed Fund and E Fund Growth ETF, with changes in their holdings noted [3]

Core Viewpoint - The article discusses the growing importance of liquid cooling technology in data centers due to increasing power consumption and heat generation from AI server chips, highlighting the shift from traditional air cooling to liquid cooling solutions. Group 1: Liquid Cooling Technology Types - Liquid cooling technology is categorized into two main types: cold plate and immersion cooling, with cold plate cooling holding a 91% market share in 2022 due to its maturity and compatibility [3][31]. - Immersion cooling, while having the highest heat dissipation capability, accounts for about 8% of the market and is represented by companies like Shuguang Data and Guangdong He Yi [4][31]. - Cold plate cooling primarily uses water-based coolants, offering advantages such as low cost and fast heat dissipation [5]. Group 2: Cooling Liquid Material Systems - The main types of cooling liquids include water-based, oil-based, and fluorinated coolants [7]. - Water-based coolants are mainly used in single-phase cold plate cooling, supplied by companies like Compton and Unification [8]. - Oil-based coolants are used in single-phase immersion cooling, with suppliers like China Petroleum and Unification [8]. - Fluorinated coolants are crucial for high reliability and extreme physical conditions, with companies like Juhua and Dongyue Group achieving large-scale production [8]. Group 3: Microchannel Liquid Cooling Breakthroughs - Microchannel cold plate technology is becoming a focus for AI chip manufacturers, with companies like Nvidia and Microsoft pushing for MLCP standards [9]. - Domestic companies such as Highlan and Feirongda are gaining certifications and expanding their market share in this area [9]. Group 4: Market Size and Price Logic - By 2028, the global AI data center installation capacity is expected to reach 59 GW, corresponding to a cooling liquid demand exceeding 89,000 tons [10]. - The Chinese market for liquid-cooled data centers is projected to grow at a compound annual growth rate (CAGR) of 51.4%, with the industry scale expected to exceed 100 billion yuan by 2027 [10]. Group 5: Leading Projects - Major companies like Alibaba, Shuguang, Huawei, and Lenovo are implementing liquid-cooled data center demonstration projects, with Alibaba achieving a PUE of 1.12 in its 5A green liquid-cooled data center [14][15]. - Shuguang has realized the world's first large-scale commercial application of immersion phase change liquid cooling [15]. - Huawei's cloud data center in Ulanqab utilizes indirect evaporative cooling, achieving a PUE of 1.15 [16]. Group 6: Mainstream Cooling Pathways - The article outlines the mainstream cooling pathways, including water-based, oil-based, and fluorinated cooling liquids, emphasizing the rapid growth of the liquid cooling market [18][21].

Group 1 - The chemical sector has regained momentum, with the Chemical ETF (516020) experiencing a rise of 1.24% by the end of trading on September 24, following a brief period of low-level fluctuations [1][2] - Key stocks in the sector include rubber additives, lithium batteries, and fluorochemicals, with notable gains from Tongcheng New Materials and Enjie Co., both hitting the daily limit, and Tianqi Materials and Duofluoride rising over 6% [1][2] - Recent government policies aim to promote high-quality development in energy equipment, which is expected to improve supply and demand dynamics in the chemical industry [1][3] Group 2 - Guojin Securities indicates that the current policy direction provides a phase-specific industry tone, with many chemical sectors at price profit bottoms and low inventory levels, making them sensitive to marginal changes [3] - The Chemical ETF (516020) has a price-to-book ratio of 2.21, which is at a low point historically, suggesting a favorable long-term investment opportunity [3] - Future measures are expected to lead to a significant slowdown in global chemical industry capacity expansion, potentially transforming the Chinese chemical industry into a high dividend yield sector [4] Group 3 - The chemical sector is anticipated to enter a new long-term prosperity cycle, driven by recent policy initiatives aimed at improving supply-demand dynamics [4] - The Chemical ETF (516020) tracks the CSI segmented chemical industry index, with nearly 50% of its holdings in large-cap leading stocks, providing a robust investment opportunity in the sector [5] - Investors can also consider the Chemical ETF linked funds for efficient exposure to the chemical sector [5]

Summary of Conference Call Notes Industry Overview - The conference call discusses advancements in liquid cooling solutions, particularly in response to the increasing thermal demands of next-generation chips, such as NVIDIA's Ruby series [1][2][3]. Key Points and Arguments 1. **Emergence of Hybrid Liquid Cooling Solutions** - The industry is exploring hybrid liquid cooling solutions that combine cold plates with silent liquid cooling to manage higher power outputs effectively [1][2]. - Hybrid solutions can handle approximately 70% of the heat through cold plates, reducing the reliance on silent systems and improving stability [1][4]. 2. **Cost and Performance Optimization** - Hybrid liquid cooling significantly reduces the amount of fluorinated liquids required, with each cabinet needing about 500-600 kg (approximately half a ton), leading to a cost of around 150,000 to 200,000 RMB per cabinet [1][6][7]. - This cost is deemed acceptable compared to the overall cabinet cost of over 6 million RMB, indicating a balance between performance and cost [7]. 3. **Market Demand Projections** - The market demand for high-end electronic fluorinated liquids could reach 20 billion RMB if hybrid solutions are successfully implemented [3][11]. - Current production capacity for liquid cooling solutions is around 2,500 to 3,000 tons, with plans for expansion to 5,000 tons specifically for liquid cooling applications [3][14]. 4. **Technological Requirements for Next-Gen Chips** - NVIDIA's Ruby Ultra series requires advanced cooling solutions that exceed the capabilities of traditional single-phase cooling systems, necessitating the adoption of hybrid solutions [3][11]. 5. **Comparison of Cooling Fluids** - R134A is highlighted for its high cooling efficiency and lower cost (around 50,000 RMB), but it faces quota reduction risks [9]. - Hydrofluoroethers are considered a viable alternative due to their adjustable boiling points and high stability, although they may cause corrosion over time [9]. 6. **Challenges with Pure Silent Liquid Cooling** - Pure silent liquid cooling faces issues of high costs and system stability, as it requires a significant amount of liquid (over 1.5 tons) and can lead to instability in high-density interconnect products [5][10]. 7. **New Opportunities for New Materials** - High-end electronic fluorinated liquids, such as perfluoropolyether and perfluoramine, are becoming preferred choices for hybrid solutions due to their superior performance [3][11]. Additional Important Content - **Newzobang's Market Position** - Newzobang is positioned as a leader in liquid cooling cabinet production, with plans to expand its capacity significantly, potentially reaching 10,000 tons [14]. - The company is expected to achieve a service profit of approximately 7.775 billion RMB in 2025, with a total valuation of around 30 billion RMB for its main business [15][16]. - **Strategic Partnerships and Validation** - Newzobang has established partnerships with major companies like Alibaba and ByteDance, which have provided data support for its liquid cooling products [13]. This summary encapsulates the critical insights from the conference call, focusing on the advancements in liquid cooling technologies and the strategic positioning of key players in the industry.

Summary of Conference Call Records Company and Industry Overview - **Companies Involved**: 新宙邦 (Xinjubang) and 阿科力 (Acoly) - **Industry**: New materials, specifically focusing on lithium battery materials, organic fluorine chemicals, and cooling technologies for data centers Key Points and Arguments Xinjubang's Business and Market Position - Xinjubang has a comprehensive industrial layout with 10 production bases globally by the end of 2024, including 9 in China and 1 in Europe, enhancing customer service and loyalty [2][5] - The company benefits from the growth in the new energy storage, automotive, and AI industries, with lithium battery materials expected to see both volume and price increases [2][5] - Current prices for new energy materials are at historical lows, with lithium hexafluorophosphate prices dropping significantly from 600,000 RMB/ton in 2021 to around 50,000-60,000 RMB/ton now [6] - Domestic apparent consumption of lithium hexafluorophosphate is projected to grow over 30% year-on-year in 2024, with further growth of 20%-30% expected in 2025 due to the development of new energy vehicles [2][6] Organic Fluorine Chemicals Market - The organic fluorine chemicals market is seen as a golden industry, with applications in pharmaceuticals, pesticides, and semiconductors [7] - Xinjubang aims to expand its market share as 3M plans to exit the market, which will create opportunities for domestic companies [7][11] Liquid Cooling Technology - Liquid cooling technology is emerging as a preferred solution for data centers, especially with the rise of AI, which increases cooling demands [9][10] - Immersion cooling is highlighted for its superior heat dissipation efficiency, making it suitable for high-power single-cabinet data centers [10] Acoly's Business Transformation - Acoly is transitioning from its original polyether amine business to focus on the development of cyclic olefin copolymer (COC) materials, which are crucial for optical lenses and pharmaceutical packaging [4][16] - Acoly plans to establish a 10,000-ton COC production facility by the end of 2026, with an additional 20,000-ton expansion planned for 2027 [4][18] - The company has already secured small orders for pharmaceutical packaging, indicating market interest and potential for growth [18][19] Competitive Landscape and Future Outlook - The COC market is characterized by high production difficulty, with only a few companies globally capable of producing it, giving Acoly a competitive edge [17][20] - Acoly is optimistic about its future growth potential, with expectations of significant market share and valuation increases due to successful technology breakthroughs [20] Financial Projections - Xinjubang is projected to achieve a compound annual growth rate (CAGR) of over 20%, potentially reaching 30% by 2026, driven by the demand for its products in the AI and new energy sectors [12] Additional Important Insights - The exit of 3M from the PFAS market, which generates approximately $1.3 billion annually, is expected to benefit domestic companies like Xinjubang and Acoly [11][12] - The overall new energy industry is currently facing challenges with overcapacity and slight losses, but improvements in supply dynamics are anticipated by 2026 [15]