鹏辉能源/多氟多/楚能/天鹏/蓝京/力华/创明/小鲁锂电/利维能/联动天翼/大族锂电/诚捷智能/亿鑫丰/嘉智信诺/孚悦科技/华普森/鹏锦智能/高视科技/川源科技等邀您齐聚2026（第 二届）起点锂电圆柱电池技术论坛暨圆柱电池20强排行榜发布会！ 倒计时22天 2026（第二届）起点锂电圆柱电池技术论坛暨圆柱电池20强排行榜发布会 活动主题： 全极耳技术跃升 大圆柱市场领航 活动时间： 2026年4月10日 活动地址： 深圳宝安维纳斯皇家酒店三楼维纳斯厅（深圳国际会展中心京基百纳店） 主办单位： 起点锂电、起点研究院SPIR 第一批赞助及演讲单位： 鹏辉能源/多氟多新能源/楚能新能源/天鹏电源/蓝京新能源/烟台力华/创明新能源/小鲁锂电/利维能/联动天翼/大族锂电/诚捷智能/亿鑫丰/嘉智信诺/孚悦科技/华普森/鹏锦 智能/高视科技/川源科技等 去年年末到今年年初，富临精工一直在扩张，有了宁德时代 "撑腰"，该公司不断输出大手笔。 起点锂电获悉， 3 月 18 日富临精工公告称，子公司江西升华于 1 月 29 日设立内蒙古富临时代，拟在内蒙古鄂尔多斯建设年产 50 万吨磷酸 铁锂项目，总投资金额 60 亿元， 为 ...

Core Insights - South America is rapidly becoming a new hub for energy storage, driven by policy incentives and market potential, with Argentina, Brazil, and Chile leading the charge in battery energy storage system (BESS) projects [2] Group 1: Argentina's Energy Storage Developments - Argentina has launched a tender for a 700MW/2800MWh battery storage system, expected to attract around $700 million in investments [5] - CATTL is sending over 1.1GWh of storage equipment to Argentina, marking its entry into the market with a focus on benchmark projects [3] - The Central Puerto project in Buenos Aires is set to become Argentina's largest storage development, with over 1GWh of equipment being integrated this year [4] Group 2: Chile's Market Expansion - Sungrow has signed contracts exceeding 10GW in Chile, aiming for a sales target of approximately 5GWh in Latin America by 2026 [3][6] - Chile is recognized as one of the most dynamic markets for storage technology in the region, with a significant focus on renewable energy integration [6][7] - Huawei is preparing to introduce a new 6MWh battery storage solution in Chile, anticipating over 4GW of battery capacity entering the market shortly [8] Group 3: Brazil's Growing Opportunities - Brazil's federal government is set to auction battery storage systems, potentially unlocking up to 13.9 billion Brazilian Reais (approximately 18.6 billion RMB) in direct investments [2] - Huawei has signed a distribution agreement in Brazil to commercialize storage systems, indicating a strong growth trajectory in the Brazilian market [8] - The country is currently experiencing rapid expansion in the battery storage market, with significant projects underway [8] Group 4: Industry Trends and Projections - The integration of energy storage with renewable sources, particularly wind power, is becoming increasingly common, with many companies planning hybrid configurations [5][6] - The actual installed capacity of battery storage systems in Argentina is projected to exceed 6GWh in the coming years, highlighting substantial market opportunities [7] - Chile currently has 9GW of storage projects in operation, construction, and testing, with an additional 27GW in development, showcasing the robust growth of the sector [9][10]

摘要 原料价格涨势不断 3月以来，磷酸铁产业链承受的成本压力仍在继续上移。 最新一轮推动来自磷化工原料端。 进入3月后，湿法磷酸连续上调，半个月内累计涨幅明显，直接推高了铁法、钠法等磷酸铁生产路 线的成本。 与此同时，硫磺价格也继续走高。 相比之下，下游磷酸铁锂成品价格并未同步上行，前驱体与正极材料之间的利润传导依旧不顺，磷 酸铁环节仍处在成本挤压之中。 相比传统硫酸亚铁路线，草酸、草酸亚铁是富临围绕高压实磷酸铁锂前驱体做出的连续布局。 但项目仍在继续落地。 3月中旬，宁德时代旗下邦普循环与宜昌方面签署合作协议，计划在当地追加投资，布局磷酸铁等 新一代锂电池新材料项目。 对邦普而言，这并非孤立的新动作。 2025年12月29日，邦普时代45万吨/年新一代磷酸铁锂项目已在宜昌投产，并打通了从原料、前驱 体、正极材料到电池循环利用的链条。 此次继续加码磷酸铁等材料，意味着电池回收体系正进一步向前驱体和正极材料环节延伸。 天赐材料的动作来自另一侧。公司近期公告，拟在湖北宜昌推进新能源材料产业园前期工作， 建 设内容包括年产100万吨铁源及30万吨磷酸铁项目，预计总投资不超过21亿元。 公告明确，铁源对应的是硫酸亚铁 ...

风向又变了？ 过去几年，锂电行业最熟悉的叙事，是技术迭代、价格起伏和产能周期。 到了这个春天，另一种更沉重的东西浮了上来。 车企在发布电池的同时发布充电站和零碳工厂，电池厂把固态量产线、换电网络和储能产能一并推到台前，材料企业则继续把扩产推进到海外基地、 上游配套和一体化园区。 这些看上去笨重、缓慢、资本开支巨大的部分，忽然有了新的名字。 市场把它叫作HALO（重资产、低淘汰率）。 近期公开流传的机构框架，已经把HALO从传统资源和公用事业，向"实物资产+确定性成长"外扩，讨论对象延伸到电动汽车、储能、智能电网、车 网互动、绿电交易、零碳园区等板块。 放在锂电链条里，真正值得重估的，则是谁在把产线、园区、站点、网络和全球准入能力，铸成更难复制的工业资产。 宁德时代走的是另一条系统节点路线。 放进锂电，这个词真正照亮的，不是下一块明星电池，而是那些沉在土地、设备、电网和客户体系里的硬资产。 这个题目会在2026年3月突然变得成立，靠的不是概念，而是一组几乎同时发生的事件。 3月5日，比亚迪发布第二代刀片电池和闪充补能体系，官方口径称截至当日已建成4239座闪充站，并计划在2026年底前把闪充站规模扩至2万座； ...

[Table_Title] 锂电周期向上，固态技术领航 [Table_ReportType] ——2026 年锂电行业投资策略报告[Table_ReportDate] [2025 Table_Summary] 年，下游动储双轮驱动，锂电产业链需求持续提升，盈利水平显 著修复。2026 年，锂电行业预计迈入供需格局优化、技术突破加速的 增长新周期，整体发展趋势向好，建议重点关注产业链周期复苏与固态 电池技术突破两大核心主线。（1）产业链周期复苏：需求端动储双轮驱 动，结构性增长动能持续释放，行业竞争格局有望持续优化。当前锂电 厂商排产稳步上修，电池环节龙头地位稳固，中游材料环节行业集中度 高，头部公司产能利用率提升，建议关注行业龙头公司业绩修复带动估 值回升的投资机会；（2）固态电池技术突破：固态电池产业化进程持续 加速，现已进入技术验证阶段，厂商中试线密集落地，有望持续带动产 业链升级。建议关注锂电设备、电解质材料、负极材料及辅材等关键材 料环节布局领先且具备技术优势的企业。 投资要点： ⚫ 行情业绩回顾：电池指数回升，行业盈利修复。（1）行情方面：指数显 著回升，估值仍处低位。2025 年，申万电池指数（8 ...

[2025 Table_Summary] 年，下游动储双轮驱动，锂电产业链需求持续提升，盈利水平显 著修复。2026 年，锂电行业预计迈入供需格局优化、技术突破加速的 增长新周期，整体发展趋势向好，建议重点关注产业链周期复苏与固态 电池技术突破两大核心主线。（1）产业链周期复苏：需求端动储双轮驱 动，结构性增长动能持续释放，行业竞争格局有望持续优化。当前锂电 厂商排产稳步上修，电池环节龙头地位稳固，中游材料环节行业集中度 高，头部公司产能利用率提升，建议关注行业龙头公司业绩修复带动估 值回升的投资机会；（2）固态电池技术突破：固态电池产业化进程持续 加速，现已进入技术验证阶段，厂商中试线密集落地，有望持续带动产 业链升级。建议关注锂电设备、电解质材料、负极材料及辅材等关键材 料环节布局领先且具备技术优势的企业。 投资要点： ⚫ 行情业绩回顾：电池指数回升，行业盈利修复。（1）行情方面：指数显 著回升，估值仍处低位。2025 年，申万电池指数（801737.SI）整体上 涨 53.43%，沪深 300 指数上涨，电池指数跑赢大盘。估值方面，当前 锂电行业估值小幅高于 2022 年至今的估值中枢水平，但仍然处于近 ...

宁德时代(03750):升目标价至655港元,评级"与大市同步" 摩根士丹利发布研报称，已更新宁德时代(03750)的风险回报预测，其去年业绩表现胜该行预期7%，因此 上调了集团今年及以后的盈利预测。更重要的是，受惠于资本效率提升，公司净现金状况较预期更强劲。大摩 亦上调了集团储能电池出货量的假设，以反映在全球电力容量短缺背景下，因推理需求增长所驱动的、来自AI 数据中心的潜在机会。基于EV/EBITDA方法，叠加人民币升值，大摩将宁德时代H股目标价上调12%，从585港元 升至655港元，评级"与大市同步"。 摩根士丹利 ...

今年 ， 全国两会释放的政策信号中， "算电协同"与"新型电力系统"成为 市场的关注点， 叠加 "十五五"规划中明确提出的电网高质量发展目标，一 条围绕AI时代算力需求重构的电力投资主线正加速清晰。 最新数据显示， "十五五"期间国家电网投资规模计划将达4万亿元，较"十四五"期间增长约 40%，一轮由政策与技术共同驱动的电力基础设施大周期已正式开启。 与以往以用电增长为核心驱动的电力投资不同，本轮周期的底层逻辑正在发生变化。两会提出的 "算电协同"，本质上是将算力基础设施与电力系统进 行一体化重构，使电力不再只是支撑性资源，而成为数字经济时代的"底层操作系统"。 基于此， 本期和讯热点赛道速递聚焦《深挖 AI时代"新卖铲 人"》 ，探究谁将主导下一轮电力基础设施红利，拆解特高压、智能配电网与储能三大赛道。 研究 指出，一方面，新能源装机占比持续提升，当前已接近一半，但风光发电的波动性与区域分布不均问题突出，导致电力系统面临显著的空间与时间 错配；另一方面， AI产业快速发展，数据中心用电需求进入高增长通道，预计全球数据中心用电量到2030年将较2024年增长超过一倍。 在双重压力之下，传统电网正从 "输电通道 ...

Summary of Conference Call on Electric Power Equipment Industry Industry Overview - The electric power equipment industry is currently experiencing a shift in demand drivers, moving from consumer-oriented electric vehicles (ToC) in 2021 to business-oriented energy storage (ToB) solutions, with overseas markets emerging as a significant growth area [1][2] - The industry is in a cyclical recovery phase, with a focus on stabilizing prices amid rising demand and a push against internal competition [2] Key Insights - **AI and Energy Security**: The explosion of AI computing power is reshaping outdated overseas power grids, increasing demand for transformers, high-voltage cables, and electrochemical energy storage [1][3] - **Shift in Storage Logic**: The energy storage sector is transitioning from policy-driven growth to demand-driven growth, with the introduction of Document 136 emphasizing economic viability and operational efficiency [1][5] - **Investment Logic**: The investment rationale for power grid equipment is shifting towards technology growth, supported by the "14th Five-Year Plan" adjustments, AI demand, and a global equipment renewal cycle [1][6] - **Ningde Times Guidance**: Ningde Times indicates a shift in the ratio of power to storage batteries from 80:20 to 50:50, suggesting that the growth rate of the storage business will significantly outpace that of power batteries [1][9] Market Dynamics - **Overseas Market Expansion**: Chinese companies are successfully expanding into overseas markets, which are becoming a second growth engine for the industry [2][6] - **AI Data Centers**: The demand from AI data centers is expected to drive significant growth in both grid infrastructure and energy storage systems, particularly in regions with aging power grids [3][6] - **Geopolitical Factors**: The ongoing geopolitical tensions and inflationary pressures in North America could impact the pace of AI infrastructure development and, consequently, the export of Chinese power equipment [7][8] Risks and Challenges - **Valuation Concerns**: The current valuation of the electric power equipment sector is considered high, necessitating caution regarding inflation impacts and geopolitical disruptions [1][7] - **Supply Chain Constraints**: The development of the computing power and energy storage sectors is contingent upon the availability of domestic computing chips, which could hinder progress if supply is restricted [8] Future Outlook - **Storage Market Growth**: The domestic energy storage market is expected to grow significantly, driven by AI data centers and supportive government policies [6][9] - **Investment Focus**: Investors are advised to prioritize the lithium battery and energy storage sectors, as they are projected to experience explosive growth in the coming years [9] - **Long-term Trends**: The trend of electric power equipment exports is anticipated to be a sustained industrial trend over the next few years, rather than a short-term phenomenon [7]

March 18, 2026 06:17 AM GMT Contemporary Amperex Technology Co. Ltd. | Asia Pacific The Center of Structural Energy Themes CATL sits at the intersection of Powering AI, energy security and global electrification toward sodium-ion batteries. Key Takeaways CATL is central to national energy security agenda. Energy storage plays a critical role in reducing reliance on imported fossil fuels globally, by enabling higher penetration of renewables and stabilizing the power system. In particular, sodium-on battery ...