1月5日，A股市场普涨，两市超4000股上冲，沪指涨超1%，重回4000点上方！截至13:56，同类规模领先、费率最低档的电池50ETF(159796)上涨1.93%， 盘中获500万元净申购，加上今日已连续4日强势吸金！ 电池50ETF(159796)标的指数成分股多数冲高，道氏技术(300409)20%大号涨停，先导智能涨近7%，亿纬锂能涨超4%，国轩高科、宁德时代涨超2%，三花 智控、阳光电源等跟涨。 | 【电池50ETF(159796)标的指数前十大成分股】 | | --- | | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 估算权重 | | --- | --- | --- | --- | --- | --- | | 1 | 300274 | 阳光电源 | 电力设备 | 0.44% | 8.97% | | 2 | 002050 | 三花智控 | 家用电器 | 1.45% | 8.70% | | 3 | 300750 | 宁德时代 | 电力设备 | 2.40% | 7.71% | | 4 | 300014 | 亿纬锂能 | 电力设备 | 4.93% | 5.52% | | 5 | 002 ...

Core Insights - The global energy storage market is experiencing unprecedented demand, with a projected explosive growth in lithium battery shipments expected to reach 631 GWh in 2025, driven by strong overseas orders from Chinese energy storage companies, which surpassed 160 GWh in the first half of the year, marking a 220% year-on-year increase [4][5][7]. Group 1: Market Overview - The energy storage battery shipment volume is expected to see explosive growth by 2025, with a significant increase in overseas orders from Chinese companies [4]. - The top 15 energy storage battery manufacturers have collectively secured over 450 GWh in orders, primarily from markets in the Middle East, Australia, and Europe [7]. - The utilization rate of production capacity among leading companies is over 90%, with some orders scheduled for delivery as far out as 2026 [4]. Group 2: Key Players and Their Performance - CATL (宁德时代) is projected to maintain its position as the global leader in energy storage, with an estimated shipment of over 140 GWh for the year, and has secured over 300 GWh in orders for 2025, marking a threefold increase from 2024 [8][15]. - EVE Energy (亿纬锂能) has signed contracts exceeding 68 GWh in energy storage orders this year, with significant international collaborations in Europe and Australia [16][22]. - ChuangNeng New Energy (楚能新能源) has seen a remarkable increase in shipments, with projections of over 80 GWh for 2025, reflecting a 300% growth compared to 2024 [23]. - BYD has engaged in multiple large-scale projects, including a 12.5 GWh grid-side storage project in Saudi Arabia, contributing to a total of over 18.8 GWh in public projects [33][37]. - Gotion High-Tech (国轩高科) has secured various projects, including a 1.2 GWh order in Morocco, and is actively expanding its storage network across China [39][40]. Group 3: Strategic Collaborations and Innovations - CATL has established numerous strategic partnerships, including a three-year cooperation agreement with Suyuan Electric for a total of 50 GWh [9][10]. - EVE Energy has signed a strategic cooperation agreement with China Gas to achieve 1 GWh in orders within a year, focusing on both domestic and international markets [22]. - ChuangNeng New Energy has actively participated in bidding for major projects, securing significant contracts with state-owned enterprises [25]. - 瑞浦兰钧 has signed multiple agreements totaling 26.5 GWh in storage projects, with a strong focus on household storage solutions [32]. - Penghui Energy (鹏辉能源) has reported a third-quarter shipment of 6.74 GWh, with a significant increase in gross margin from 12% to 21% [48].

Core Insights - The event "China Truck Customer Operation Survey Opinion Leader" focuses on user operations, product performance, and quality, reflecting industry opinions and voices [1] - The event has been held annually since 2017, accumulating thousands of user voices through extensive surveys across the country [1] Industry Trends - The evaluation emphasizes the core track of new energy, focusing on key models such as electric heavy trucks, light trucks, micro trucks, VANs, and pickups [3] - The survey targets regions with high concentrations of heavy trucks and mainstream markets for new energy light trucks, including Beijing-Tianjin-Hebei, Yangtze River Delta, and Greater Bay Area [3] - Five major industry trends identified include: 1. Continuous improvement of policy support, with benefits like charging subsidies and road rights stimulating market potential [3] 2. More affordable prices for new energy trucks and lower entry barriers promoting green transportation [3] 3. Maturing battery technology leading to lightweight and high-capacity solutions, significantly increasing customer acceptance [3] 4. Highlighting operational cost advantages as key to driver profitability under pressure on freight rates, driving green transformation in the industry [3] 5. Upgraded adaptability for specific scenarios, with customized models emerging and steadily increasing penetration rates [3] Market Dynamics - The sales and penetration rates of new energy commercial vehicles in China are on the rise, with diverse categories developing simultaneously and regional advantages becoming more pronounced [5] - The future focus should be on "improving quality, reducing costs, and increasing efficiency" to explore development potential [5] Technological Innovations - Insights from industry leaders highlight how electric light trucks can overcome scenario limitations through technological innovation, and how open-source batteries can empower green upgrades in heavy truck logistics [6] Industry Participation - The event saw active participation from leading companies such as China National Heavy Duty Truck Group, Foton Motor, Dongfeng Liuzhou Motor, BYD Commercial Vehicles, and others, showcasing the vitality of high-quality development in the truck industry [8] - The current market exhibits a symbiotic relationship between traditional and new energy vehicles, with traditional fuel vehicles still playing an irreplaceable role in key areas like long-haul and specialized operation vehicles [8] Future Outlook - As the event approaches its 10th anniversary in 2026, the organizing team plans to comprehensively analyze ten years of survey data and release the "China Truck User Operation White Paper," focusing on core topics such as cost control, fleet management, low-carbon transformation, and value-added services [8]

您好！感谢您对公司的关注与支持。公司严格按照相关法律法规的规定和要求履行信息披露义务，谢 谢。查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 登录新浪财经APP 搜索【信披】查看更多考评等级 投资者提问： 公司明明白天就已经收到传票了，为什么要等到晚上才公布诉讼消息，我白天刚买的贵公司股票 董秘回答(欣旺达SZ300207)： ...

Core Insights - The company, XINWANDA, reflects on its achievements in 2025, emphasizing its commitment to high-quality development and innovation in battery technology [2][9] - The company has made significant advancements in various technologies, including the iteration of fast-charging technology to version 4.0 and breakthroughs in all-solid-state batteries [9] - XINWANDA has successfully deepened partnerships with major clients and expanded its ecosystem, while also enhancing its industrial chain to cover research, manufacturing, and recycling [9] - The company has been recognized for its efforts, achieving a place in the top 500 Chinese enterprises, indicating a substantial increase in overall strength [9] Industry Outlook - The lithium battery industry is expected to experience significant opportunities in 2026, driven by emerging applications such as new energy vehicles, advanced energy storage, and AI products [10] - China's lithium battery supply chain advantages are being reinforced, supported by the strategic deployment of the "14th Five-Year Plan" for the new energy industry [10] Future Strategy - The company plans to anchor its "Battery+" strategy, focusing on innovation and the integration of technology with emerging applications [11] - There is a commitment to long-termism, aiming to meet differentiated demands in niche markets and create irreplaceable product advantages [11] - The company intends to enhance smart manufacturing and expand its global presence, establishing a comprehensive global industrial network [11]

经济运行凸显"支撑力"，主要指标位居前列 要素保障实现"全覆盖"，服务效能显著提升 为确保项目顺利推进，枣庄高新区创新实施重点项目全生命周期管理服务机制，为96个三级重点项目逐一配备了由区领导和帮包单位组成的"一对一"服务 专班。截至12月底，已累计开展各类帮包工作60余项。通过定期召开要素保障会议，建立"顶格协调、高层推动"的问题解决机制，对重大项目实行"点对 点"精准调度。年内，已聚焦政策、审批、监管、服务等环节，成功协调解决11个项目涉及的17个具体问题，有效破解了项目建设的难点堵点。 产业引育注重"生态化"，发展后劲持续增强 在项目推进中，枣庄高新区坚持"存量扩张"与"增量崛起"并重。一方面，全力支持科达利（002850）、欣旺达（300207）等龙头企业增资扩产，加快二期 项目建设；另一方面，围绕欣旺达等核心企业，精准引进其供应链上下游项目，积极推动新型超充电池、正瀚新能源等项目落地，加速锂电新能源产业集 群生态聚合。同时，高标准推进公共服务配套和"零碳智谷"建设，其中"零碳智谷"先导示范区已成功入选山东省首批零碳园区创建名单，为产业绿色发展 提供了有力支撑。 齐鲁晚报.齐鲁壹点靳春莉 12月31日 ...

就此一系列相关问题，观察者网咨询了北京国樽律师事务所合伙人律师周睿和王芳芳。两位律师表示， 本案对新能源汽车产业影响极大，暴露了当下行业长周期、高性能部件采购合同存在的巨大"法律缝 隙"，特别是如何鉴定使用多年的高性能部件的先天质量与后天损耗，也为产业链上下游的协作与健康 发展提供了警示。 【文/观察者网 潘昱辰 编辑/高莘】日前，吉利极氪旗下电池公司威睿以电芯存在质量问题为由，将电 芯供应商欣旺达告上法庭，索赔超过23亿元，相当于后者近两年的净利润，并引发行业内外广泛关注。 这起汽车制造商、下游电池制造商与上游电芯供应商之间的高额索赔纠纷，原被告双方各存在哪些举证 与抗辩的依据?法院又当如何审查如此巨额的损失主张？对使用多年的电芯又将如何进行鉴定？存在合 资利益关系的双方，在对簿公堂前又有哪些协商与博弈？ 更为重要的是，本案又将对中国新能源汽车产业链的合规发展与协作前景产生怎样的影响？ 欣旺达 视觉中国 问：威睿提出超过23亿元的索赔可能由哪些部分构成？法院在审查巨额损失主张时，核心的认定标准和 计算依据是什么？ 周睿：威睿诉请的损失主要指直接损失，可能包括：（1）更换故障电池包的全部成本（电芯采购成 本、 ...

证券研究报告 行业研究 / 行业深度 2025 年 12 月 31 日 行业及产业 电力设备 一年内行业指数与沪深 300 指数对比走势： 资料来源：聚源数据，爱建证券研究所 相关研究 《数据中心供配电设备行业跟踪：海外云厂商 资本开支高增长，电力设备需求高企》 2025-12-30 《光储行业跟踪：11 月国内光伏装机同比增 长，双玻组件价格小幅上涨》2025-12-30 《锂电行业跟踪：动力和储能电池需求旺盛， 储能电芯和系统均价上涨》2025-12-30 《2026 年电新行业策略报告：新能源基本业务 向上+国家战略安全资产赋能有望成为最强主 线》2025-12-30 盛，锂电材料价格回升》2025-12-23 朱攀 S0820525070001 021-32229888-25527 zhupan@ajzq.com 联系人 陆嘉怡 S0820124120008 021-32229888-25521 lujiayi@ajzq.com ——固态电池行业深度报告 材料和工艺设备体系革新，固态电池产 业化加速 强于大市 投资要点： 固态电池电解质固态化是核心，具有能量密度和安全性优势，体型的硫化物全固态电池是趋 ...

Core Viewpoint - The lithium battery industry is experiencing significant growth in production and demand, with notable increases in both battery and phosphoric iron lithium cathode material output in November 2025 compared to the same period in 2024 [1][2]. Production - In November 2025, domestic battery production reached 176.3 GWh, marking a year-on-year increase of 49.66% and a month-on-month increase of 3.34% [1][2]. - The production of phosphoric iron lithium cathode materials in November 2025 was 26.89 million tons, reflecting a year-on-year growth of 29.43% and a month-on-month growth of 0.75%, with a capacity utilization rate of 62.53% [1][2]. Pricing - As of December 26, 2025, the price of industrial-grade lithium carbonate rose to 116,000 yuan per ton, with a weekly increase of 14.85% [3]. - The price of phosphoric iron lithium (power type) reached 45,100 yuan per ton on December 26, up over 15% from December 19 [3]. - Prices for lithium hexafluorophosphate remained stable at 180,000 yuan per ton as of December 27 [3]. - The average price of square phosphoric iron lithium energy storage batteries remained stable, with slight increases in specific models [3]. Demand - In November 2025, the monthly loading volume of phosphoric iron lithium batteries was 75.3 GWh, a year-on-year increase of 43.62% and a month-on-month increase of 11.56%, achieving a new high for the year [4]. - The monthly loading volume of ternary power batteries was 18.2 GWh, reflecting a year-on-year increase of 33.82% and a month-on-month increase of 10.30% [4]. - The new bidding capacity for domestic new energy storage projects in January to October 2025 was higher than in the same period of 2024, with November slightly lower [4]. - In November 2025, China's battery exports reached 21.2 GWh, a year-on-year increase of 69.60% and a month-on-month increase of 9.28% [4]. Investment Recommendations - The production of domestic batteries and phosphoric iron lithium cathode materials in January to November 2025 exceeded that of 2024, with stable raw material and cell prices, and an increase in monthly loading volumes and new energy storage bidding capacities [5]. - The industry is advised to focus on core enterprises in battery cells that lead in the collaborative layout of power batteries and energy storage, as well as those related to lithium battery materials [5]. - Recommended companies include CATL (300750), EVE Energy (300014), Xinwangda (300207), Hunan Youneng (301358), Rongbai Technology (688005), Tianci Materials (002709), and Dofluor (002407) [5].

本报（chinatimes.net.cn）记者胡雅文 北京报道 12月29日，欣旺达（300207.SZ）股价出现年内罕见大跌，当日下跌11.39%。就在上周五（12月26日） 晚间，欣旺达公开表示，收到了威睿电动汽车技术（宁波）有限公司（下称"威睿公司"）的起诉状，被 索赔约23.14亿元。 到12月30日，欣旺达股价仍低开高走，当日上涨3.15%，市值回到502亿元。 在二级市场遭遇重挫之际，欣旺达吃天价官司的事已经在新能源圈子里传开。起因是吉利控股集团旗下 的子公司威睿公司正式对欣旺达提起诉讼，索赔金额高达23亿元。 作为动力电池生产厂商，欣旺达曾于2021年4月公告称，已经收到吉利汽车集团旗下威睿公司的开发意 向书，被选定为威睿公司PMA平台项目的定点供应商。简单来讲，就是为极氪、smart、沃尔沃和几何 品牌的汽车提供电芯。 这意味着，欣旺达进入了吉利新能源汽车的核心供应链。欣旺达早年聚焦于手机、笔记本电脑等消费类 电池，在车用动力电池赛道起步晚于宁德时代（300750.SZ）和比亚迪（002594.SZ）。成功打入吉利体 系，标志着欣旺达的产品获得主流车企认可，利于市场开拓。 2021年，欣旺达的 ...