上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到 先得！ 截至8月11日，上交所融资余额报10217.92亿元，较前一交易日增加90.72亿元；深交所融 资余额报9838.97亿元，较前一交易日增加76.64亿元； 两市合计20056.89亿元，较前一交 易日增加167.36亿元，时隔十年重回2万亿元之上。 从融资客持仓来看，上周，电子行业融资余额增加超56亿元，A股市场融资净买入金额最大的股票为海 光信息，净卖出金额最大的股票为中际旭创。 加仓电子行业超56亿元 Choice数据显示，截至8月8日，A股两融余额报20095.16亿元，融资余额报19953.59亿元，上周A股市场 融资余额增加290.85亿元。 具体来看，上周5个交易日中，8月4日A股融资余额增加113.3亿元，8月5日增加87.06亿元，8月6日增加 90.23亿元，8月7日增加35.85亿元，8月8日减少35.59亿元。 A股两融余额和融资余额在8月7日均创下逾十年新高。融资成交活跃， 8月4日—8月7日， 融资买入额 占A股成交额的比例连续4个交易日超10%。 上周，申万一级31个行业中，有19 ...

时隔十年，A股融资余额再次站上2万亿元。 Wind数据显示，8月11日，A股融资余额增加168.41亿元。截至8月11日，A股融资余额报20122亿元，创2015年7月2日以来新高。从存量情况来看，电子行业 融资余额居前，达2327.87亿元；融资余额最大的股票为东方财富，达235.74亿元。 行业板块方面，截至8月11日，申万一级31个行业中，电子、非银金融、计算机行业融资余额居前，分别为2327.87亿元、1633.77亿元、1540.81亿元，医药 生物、电力设备、机械设备、汽车行业融资余额均超1000亿元。 来源：Wind 个股方面，东方财富、中国平安、贵州茅台融资余额居前，分别为235.74亿元、221.71亿元、166.13亿元，比亚迪、中信证券、长江电力融资余额均超100亿 元。 融资余额前十股票 | 证券代招 | 证券简称 | | | | | --- | --- | --- | --- | --- | | | | 融资融券余额(万元) | J 副台灣領(元) | 能完美时向元 | | 300059.SZ | ：东方财富 | 2.360.404.92 | 2.357.372.40 | 3.032 ...

8月10日，有投资者深夜蹲守矿区见证停产，据现场描述，8月9日晚上12点起，矿区挖掘机、推土机均准时停止作业，此前夜间施 工的轰鸣声与灯光彻底消失。当地村民表示，该矿区涉及原村民山地，此前夜间施工时震动明显。 【环球网财经综合报道】8月11日，宁德时代在互动平台确认，公司宜春枧下窝矿区因采矿许可证于8月9日到期，已暂停开采作 业，目前正按规定办理采矿证延续申请，待批复后将恢复生产，并称该事项对整体经营影响不大。根据有关法律要求，宁德时代正 在按照相关规定办理采矿证延续申请。 市场反应迅速显现。8月11日早盘，碳酸锂期货主力合约涨停，报81000元/吨，创近三个月新高；A股锂矿概念指数上涨3.98%，德 方纳米涨13.08%，盛新锂能、江特电机等多股涨停。 据宁德时代方面此前披露的信息，江西宜春枧下窝矿区3300万吨含锂瓷土选矿项目分三期建设，其中一期1000万吨年选原矿产能于 2023年建成。 此次宁德时代枧下窝矿区停产，被市场视为碳酸锂行业反内卷去产能的重要信号之一 今年7月，宜春市自然资源局要求8家涉锂矿山企业9月底前完成储量核实，直指部分矿区长期以"陶瓷土矿"名义越权审批开采锂资 源的问题。业内人士指出 ...

Group 1 - The main focus of the article is on the significant outflow of capital from specific stocks as of August 12, with the top 20 stocks experiencing the largest withdrawals [1] - The stocks with the highest capital outflow include Changcheng Military Industry (-0.51 billion), Northern Rare Earth (-0.48 billion), and Aerospace Science and Technology (-0.42 billion) [1] - Other notable stocks with substantial outflows include Tianqi Lithium (-0.39 billion), Jinfat Technology (-0.38 billion), and Shenghe Resources (-0.37 billion) [1] Group 2 - The total capital outflow from the top 20 stocks indicates a trend of investors pulling back from these companies, which may reflect broader market sentiments [1] - The data highlights the specific amounts withdrawn from each stock, providing insight into investor behavior and potential market shifts [1]

关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源 ：综合自 第一财经、21世纪经济报、宁德时代、储能前沿 新能源汽车"三电系统"技术门槛正在提高且正值快速更迭阶段，后市场却面临供不应求的矛盾。 传统线下汽车维修店的数量因新能源汽车发展而呈现下降趋势，主机厂具备新能源维修资质的4S店网点少 且集中于城市，县域覆盖薄弱。据中国质量网公布的数据，以独立第三方平台途虎为例，途虎养车工厂店 覆盖1,700个县域，但具备电池专修能力的门店仅覆盖73城。 为了解决上述问题，8月10日，在成立一周年之际， 宁德时代旗下独立后市场品牌宁家服务推出CTP返修 服务。 宁家服务上海直营体验中心工程师向记者表示，该返修服务价格远低于整包更换成本，一般新能源 汽车换电池的成本在10万元左右， 但返修的价格可以降至1万~2万元，但目前该业务仅限宁德时代电池。 宁家服务前身为 宁德时代 2015年成立的售后服务部，2024年正式升级为独立品牌，目前在75个国家拥 有超过1100多家服务门店，其中中国区站点超过800家，主要提供电池检测、电池维保、二手车电池检测 及整备、电池回收、梯次利用 ...

Investment Rating - The report maintains a "Buy" rating for the photovoltaic and wind power sectors, indicating a positive outlook for these industries in the near to medium term [4][5]. Core Insights - The photovoltaic industry is undergoing a "de-involution" movement at the national strategic level, focusing on capacity integration in the silicon material segment and strengthening price regulation across the supply chain. The industry is currently at the bottom of the cycle, with future policy strength being a key variable influencing its trajectory. In the medium to long term, the photovoltaic sector is expected to enter a phase of high-quality development, with technological upgrades and market structure optimization becoming core competitive factors [4]. - The wind power sector in China has a strong global competitive advantage, with a relatively reasonable supply-demand structure and robust profitability among companies. The year 2025 is anticipated to be a significant year for offshore wind power development in China, with accelerated construction and favorable export trends [4]. Weekly Market Review - From August 4 to August 8, 2025, the Shanghai Composite Index rose by 2.11%, while the Shenzhen Component Index and the ChiNext Index increased by 1.25% and 0.49%, respectively. The Shenwan Electric Power Equipment Index rose by 1.94%, outperforming the CSI 300 by 0.71 percentage points. Within sub-sectors, photovoltaic equipment, wind power equipment, batteries, and grid equipment experienced changes of +1.29%, +4.50%, +0.99%, and +3.08%, respectively [12][18]. Key Sector Tracking - **Photovoltaic Sector**: The report highlights a significant project where JA Solar is the candidate for a 50MW photovoltaic component procurement project in Tibet, with a bid amount of approximately 36 million CNY and a unit price of 0.7215 CNY/W [3][21]. - **Wind Power Sector**: The report emphasizes the strong profitability of domestic wind power companies in the first half of the year and suggests focusing on leading companies such as Goldwind Technology and Dongfang Cable [4]. Investment Recommendations - **Photovoltaic**: Focus on segments that have undergone sufficient corrections, such as silicon materials, glass, and battery cells. Recommended companies include Aiko Solar, Flat Glass Group, GCL-Poly Energy, and Junda Technology [4]. - **Wind Power**: Maintain a positive outlook on the domestic wind power supply chain, with recommendations for companies like Goldwind Technology and Zhongtian Technology [4]. - **New Energy Vehicles**: The sector continues to grow rapidly, with recommendations to focus on battery and structural components benefiting from low upstream raw material prices, including companies like CATL and EVE Energy [5]. Industry Price Data - The report includes price trends for key materials in the photovoltaic supply chain, indicating fluctuations in silicon material, battery cell, and module prices, which are critical for assessing market dynamics [35][36][38].

Market Overview - A-shares showed strong performance on Monday, with the Shanghai Composite Index rising 0.34% to 3,647 points, and the Shenzhen Component Index increasing by 1.46%[18] - U.S. stocks retreated ahead of the inflation data release, with the Dow Jones down 0.45% to 43,975 points, and the S&P 500 declining 0.25% to 6,373 points[11] - European markets exhibited mixed results, with the Stoxx 600 index closing flat, while the UK FTSE 100 rose 0.23%[11] Commodity and Currency Insights - International gold prices fell over 2% after Trump confirmed no tariffs on imported gold, with New York gold futures down 2.5% to $3,353 per ounce[30] - Oil prices remained near two-month lows, reflecting market focus on the potential outcomes of U.S.-Russia talks regarding Ukraine[30] - The U.S. dollar index increased by 0.3% to 98.52, while the euro appreciated by 12.2% year-to-date against the dollar[29] Economic Indicators and Predictions - The upcoming U.S. CPI data is anticipated to influence market sentiment, with current expectations of a 58 basis point rate cut priced in for the year[33] - The global AI capital expenditure (CAPEX) is projected to grow by 64% in 2025 and 50% in 2026, driven by increased demand for computing power and favorable tax reforms[9] Sector Performance - In the U.S., 8 out of 11 S&P sectors declined, with the energy sector leading the losses at 0.79%[11] - In Hong Kong, the Hang Seng Index rose 0.19%, while the technology sector showed mixed results, with Meituan declining and Alibaba gaining nearly 2%[13] Notable Corporate Developments - Nvidia and AMD agreed to pay 15% of their AI chip sales revenue to the U.S. government to obtain export licenses, impacting their stock prices slightly downwards[11] - The Indian economy may face a potential $32 billion drop in annual exports if a 50% tariff becomes the norm, affecting various manufacturing sectors[26]

碳酸锂期货日报 行业 日期 2025 年 8 月 12 日 研究员：张平 021-60635734 zhangping@ccb.ccbfutures.com 期货从业资格号：F3015713 021-60635729 yufeifei@ccb.ccbfutures.com 期货从业资格号：F3025190 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 有色金属研究团队 研究员：余菲菲 研究员：彭婧霖 请阅读正文后的声明 ＃summary＃ 每日报告 一、 行情回顾与操作建议 数据来源：Wind，建信期货研究发展部 碳酸锂期货涨停，宁德时代枧下窝矿确认停产，市场做多情绪高涨，现货市场跟 涨，电碳涨 2600 至 74500，上游出货情绪上涨而下游购货情绪下跌，澳矿涨 90 至 875 美元/吨，云母矿涨 75 至 1875 元/吨，外购辉石盐厂亏 145，外购云母盐 厂亏 7642，不过盘面提供丰厚的套保空间，短期在碳酸锂涨价背景下，盐厂开工 积极性预计将持续高涨，枧下窝矿停产对碳酸锂产量影响预计有限，短期价格上 行更多受情绪面影响。 ...

Core Viewpoint - The rare metals sector is experiencing fluctuations, with the China Rare Metals Theme Index down by 1.43% as of August 12, 2025, while the Rare Metals ETF has shown a significant increase of 7.68% over the past week [1][4]. Group 1: Market Performance - As of August 11, 2025, the Rare Metals ETF has reached a new high in scale at 1.404 billion yuan, ranking first among comparable funds [4]. - The ETF's latest share count is 2.098 billion, also a three-month high, maintaining its leading position among similar funds [4]. - The ETF has seen a net inflow of 102 million yuan recently, with a total of 131 million yuan over the past five trading days [4]. Group 2: Stock Performance - The top ten weighted stocks in the China Rare Metals Theme Index account for 55.85% of the index, with notable companies including Northern Rare Earth, Salt Lake Co., and Luoyang Molybdenum [5]. - The performance of individual stocks has varied, with Jiangte Electric leading with a 4.38% increase, while Yongshan Lithium and others have seen declines [1][7]. Group 3: Supply and Demand Dynamics - The suspension of the Jiangxia Lithium Mine by CATL is expected to reduce domestic lithium supply by 8,300 tons per month, impacting the market balance and potentially driving lithium prices up [5]. - The ongoing strong demand for lithium batteries and a decrease in overseas lithium salt imports are expected to sustain the upward trend in lithium prices [5].

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Lithium Market - **Company Mentioned**: CATL (Contemporary Amperex Technology Co., Limited) Core Insights and Arguments 1. **Lithium Supply Disruption**: CATL has suspended production at its Jianxiawo lepidolite mine in China for at least three months due to an expired license, which accounted for approximately 4% of global lithium supply in 2025 [2][10] 2. **Permit Renewal Process**: The renewal of the mining license is subject to approval by the Ministry of Natural Resources, which may prolong the disruption [2] 3. **Market Focus on Other Mines**: Attention is also on eight mines in Yichun that must submit reserve verification reports by September 30, which could pose additional supply disruption risks [2] 4. **Tightening Supply-Demand Balance**: The lithium market is expected to find a balance with supply and demand growing at the same rate in 2025, with a small surplus of 60,000 tons carried over from 2024 [3] 5. **Potential Price Upside**: Depending on the duration of the Jianxiawo mine's outage and any further disruptions, the market may move closer to balance, leading to upside risks for lithium prices [3][4] Additional Important Insights 1. **Recent Production Halts**: A lithium salt producer in Sichuan has halted production due to low margins, indicating a trend of supply discipline in response to low prices [4] 2. **Elevated Inventories**: Despite the potential for price increases, inventories remain high, which could incentivize other suppliers to increase production if prices rise too quickly, posing challenges for 2026 and beyond [4] 3. **Short-Term Price Support**: The recent disruptions are likely to support lithium prices in the near term, but the long-term balance remains uncertain [10]