Core Insights - The lithium battery core material shipment volume is expected to achieve year-on-year growth by 2025, with a clear concentration of leading companies in the industry [2] - The lithium material industry is entering a new phase of value competition by 2026, with a focus on technological innovation and supply chain resilience [7] Positive Electrode Materials - Lithium Iron Phosphate - In 2025, China's lithium iron phosphate positive electrode material shipment volume reached 3.944 million tons, a year-on-year increase of 62.5%, accounting for 79.1% of the total positive electrode material shipment volume [3] - The top ten companies in this segment include Hunan YN, Wanrun Energy, and Defang Nano, with Hunan YN leading with over 1 million tons and a market share of approximately 29.8%-30% [3] Positive Electrode Materials - NCM - In 2025, China's NCM material shipment volume reached 786,000 tons, a year-on-year increase of 22.2% [4] - The leading companies in this segment are Nantong Ruixiang, Tianjin Bamo, and Rongzhi Technology, with Nantong Ruixiang achieving nearly 200,000 tons in shipments [4] Negative Electrode Materials - In 2025, China's negative electrode material shipment volume reached 2.922 million tons, a year-on-year increase of 38.1% [5] - The top three companies, including Better Energy, Shanghai Shanshan, and Zhongke Xingcheng, collectively hold a market share of 50.9% [5] Electrolytes - In 2025, global lithium-ion battery electrolyte shipment volume grew by 44.5% to 2.402 million tons, with China's actual shipment volume reaching 2.235 million tons, accounting for 93.05% of the global market [6] - The leading companies in this segment include Tianci Materials and BYD, with Tianci Materials achieving a shipment volume of 720,000 tons and a market share of 32.2% [6] Separators - In 2025, China's lithium-ion battery separator total shipment volume reached 32.85 billion square meters, a year-on-year increase of 44.4% [7] - The top companies in this segment include Shanghai Enjie and Hebei Jinli, with Shanghai Enjie achieving nearly 10 billion square meters in shipments and a market share exceeding 30% [7] Industry Outlook for 2026 - By 2026, global lithium-ion battery shipment volume is expected to reach 3,016.3 GWh, with a year-on-year growth of approximately 30% [7] - The industry is anticipated to see intensified competition among leading companies and accelerated exit of weaker players, driven by the expansion of the energy storage market and growth in new energy vehicle exports [7]

每经头条（nbdtoutiao）——中国无人驾驶"军团"，"武装"阿布扎比 每经AI快讯，德方纳米1月30日晚间发布公告称，2025年度拟计提资产和信用减值损失合计4.05亿元 ~5.3亿元，减少公司2025年度利润总额4.05亿元~5.3亿元，上述数据尚未经会计师事务所审计，最终数 据以会计师事务所年度审计的财务数据为准。 （记者 张明双） ...

证券代码：300769 证券简称：德方纳米 公告编号：2026-003 深圳市德方纳米科技股份有限公司 2025 年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日至2025年12月31日。 2、业绩预告情况：预计净利润为负值 （1）以区间数进行业绩预告的 单位：万元 | 项 | 目 | | 本报告期 | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东 的净利润 | | -86,000 | ～ | -76,000 | -133,765.28 | | 扣除非经常性损益后 的净利润 | | -82,000 | ～ | -72,000 | -137,345.40 | 二、与会计师事务所沟通情况 本次业绩预告的相关财务数据是公司财务部门初步测算结果，未经会计师 事务所审计。公司已就本次业绩预告有关事项与会计师事务所进行了预沟通， 公司与会计师事务所在本报告期的业绩预告方面不存在分歧。 三、业绩变动原因说明 （1）2025年公司预计 ...

证券代码：300769 证券简称：德方纳米 公告编号：2026-004 深圳市德方纳米科技股份有限公司 关于 2025 年度拟计提资产减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 为真实、客观地反映深圳市德方纳米科技股份有限公司（以下简称"公司"） 的财务状况及资产价值，根据《企业会计准则》《深圳证券交易所上市公司自律 监管指引第2号——创业板上市公司规范运作》及公司会计政策的相关规定，本 着谨慎性原则，对截至2025年12月31日合并报表范围内可能发生减值迹象的相关 资产拟计提减值准备。现将相关情况公告如下： 一、本次计提资产减值准备情况概述 1、本次计提资产减值准备的原因 根据《企业会计准则》《深圳证券交易所上市公司自律监管指引第2号—— 创业板上市公司规范运作》和公司的会计政策等相关规定，基于谨慎性原则，为 真实反映公司的财务状况、资产价值及经营情况，公司对截至2025年12月31日的 合并范围内的各类资产进行了全面清查，对各类资产进行了充分的评估和分析， 对可能发生减值损失的资产计提减值准备。 2、本次计提减值准备的范围和总金额 公司 ...

转自：前瞻产业研究院 行业主要上市公司：湖南裕能(SZ 301358)、德方纳米(SZ 300769)、万润新能源(SH 688275)等; 本文核心数据：中国锂电池正极材料行业市场规模 2024年中国锂电池正极材料行业市场规模约2000亿元 锂离子电池的定义是利用锂离子作为导电离子，在正极和负极之间移动，通过化学能和电能相互转化实 现充放电的电池。锂离子正极材料是电池中用于储存和释放锂离子的关键组成部分，主要负责在充放电 过程中提供锂离子并接收电子。中国锂离子电池正极材料始于20世纪90年代，初期依赖进口钴酸锂 (LCO) 满足消费电子需求。2001年盟固利实现正极材料国产化突破，2008年比亚迪推动磷酸铁锂 在动 力电池商用，同期锰酸锂逐步应用。2010年后三元材料快速崛起，2015年起高镍化与LFP技术迭代并 行，随后伴随着中国新能源与新能源汽车市场的快速发展，中国锂离子电池正极材料产能、需求与技术 快速发展并实现全球领先，覆盖全材料体系并主导全球市场供应。2024年中国锂电池正极材料行业市场 规模约2000亿元，近五年行业复合增速29.40%。 | 企业名称 | 所属省份 | 布局情况 | | --- ...

证券代码：300769 证券简称：德方纳米 公告编号：2026-002 深圳市德方纳米科技股份有限公司 关于对外担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 对外担保概述 深圳市德方纳米科技股份有限公司（以下简称"公司"）于2025年4月25日 召开第四届董事会第十七次会议，并于2025年5月19日召开2024年年度股东大会， 会议分别审议通过了《关于向金融机构申请综合授信额度的议案》《关于对外担 保额度预计的议案》，公司及合并报表范围的子公司（含授权期限内新设立或纳 入合并范围的全资子公司、控股子公司）拟向银行、融资租赁公司等金融机构申 请综合授信额度，总额度合计不超过人民币1,500,000.00万元（不包含低风险业 务额度），最终额度以金融机构实际审批的授信额度为准，授信品种包括但不限 于本外币借款、银行承兑汇票、信用证、保函等，各金融机构实际授信额度可在 总额度范围内调剂。公司拟为合并报表范围的子公司向业务相关方（包括但不限 于银行、融资租赁公司等金融机构及其他业务合作方）申请综合授信额度（包括 但不限于本外币借款、银行承兑汇票 ...

Core Viewpoint - The LMFP (Lithium Manganese Iron Phosphate) market is poised for explosive growth in 2025, with a projected shipment increase of 275% year-on-year, despite current production capacity exceeding actual demand. The expansion efforts by leading companies indicate a strong belief in the material's potential [2][11]. Group 1: Market Dynamics and Growth - In 2025, the domestic LMFP shipment volume is expected to exceed 30,000 tons, marking a significant increase from previous years, driven by technological advancements and performance improvements [2][11]. - Major companies like Hunan YN and others are investing heavily in LMFP production, with plans to significantly increase capacity, indicating confidence in future demand [1][10]. - The LMFP market is projected to reach 80,000 tons by 2026, with expectations of further growth to 500,000 tons by 2030, translating to a market size exceeding 20 billion yuan [11][14]. Group 2: Technological Advancements - Companies have made significant breakthroughs in LMFP technology, addressing previous performance limitations such as low density and poor cycle life, which have historically hindered its adoption [4][5]. - Innovations like the second-generation LMFP battery from Guoxuan High-Tech have improved energy density and charging capabilities, enhancing the battery's appeal for electric vehicles [5][6]. - The introduction of new manufacturing processes, such as solid-phase synthesis, has improved the material's conductivity and stability, further supporting its commercialization [5][6]. Group 3: Application and Market Penetration - LMFP batteries are now being utilized in various applications, including passenger and commercial vehicles, with significant adoption rates in the light vehicle sector [6][7]. - The low-temperature performance of LMFP batteries allows for broader application, particularly in colder climates, enhancing their competitiveness in the market [9][10]. - Companies like EVE Energy and Guoxuan High-Tech are successfully integrating LMFP materials into their product lines, indicating a shift towards more advanced battery technologies [7][9]. Group 4: Cost and Supply Chain Considerations - The cost advantages of LMFP, due to the abundance of manganese compared to nickel and cobalt, allow for a 10%-15% reduction in battery costs when mixed with high-nickel materials [10][15]. - The rapid expansion of LMFP production capabilities, with over 30 companies involved, is creating a competitive landscape that benefits downstream battery manufacturers [10][15]. - The supply chain for manganese is becoming increasingly critical, as demand for LMFP rises, necessitating strategic partnerships for resource acquisition [17].

Group 1 - The A-share market saw a strong performance in lithium mining stocks, with notable gains from companies such as Chuaneng Power, which rose over 7%, and Tibet Summit and Guocheng Mining, which increased by over 6% [1] - The main contract for lithium carbonate surged by more than 5%, reaching a new high of 178,000 yuan per ton [1] Group 2 - Chuaneng Power's stock increased by 7.72%, with a total market capitalization of 25.8 billion yuan and a year-to-date increase of 19.83% [2] - Tibet Summit's stock rose by 6.47%, with a market cap of 19 billion yuan and a year-to-date increase of 37.83% [2] - Guocheng Mining's stock increased by 6.38%, with a market cap of 34.6 billion yuan and a year-to-date increase of 5.00% [2] - Other notable performers include Dazhong Mining (up 5.37%), Yiyaton (up 5.36%), and Ganfeng Lithium (up 4.54%) [2]

Group 1 - The A-share market saw a strong performance in lithium mining stocks, with notable gains from companies such as Chuaneng Power, which rose over 7%, and Tibet Summit and Guocheng Mining, which increased by over 6% [1] - The main contract for lithium carbonate surged by over 5%, reaching a new high of 178,000 yuan per ton [1] Group 2 - Chuaneng Power's market capitalization is 25.8 billion yuan, with a year-to-date increase of 19.83% [2] - Tibet Summit has a market capitalization of 19 billion yuan and a year-to-date increase of 37.83% [2] - Guocheng Mining's market capitalization stands at 34.6 billion yuan, with a year-to-date increase of 5.00% [2] - Other companies like Dazhong Mining and Yiyaton also reported gains of over 5%, with market capitalizations of 48.7 billion yuan and 15.3 billion yuan respectively [2] - Ganfeng Lithium, with a market capitalization of 153.1 billion yuan, saw a year-to-date increase of 16.11% [2] - Yongxing Materials and Aolian Electronics reported increases of 4.29% and 4.21% respectively, with market capitalizations of 29.5 billion yuan and 3.22 billion yuan [2] - The overall trend indicates a positive momentum in the lithium sector, supported by the MACD golden cross signal [2]

2025-2026年磷酸铁锂新扩产落地的产能将超过200万吨，届时全球磷酸铁锂产能将逼近900万吨，磷酸 铁锂行业仍难摆脱供过于求格局，过剩主要集中在二、三代材料，而四代高端材料依旧短缺。在企业抢 出口、新能源汽车及储能政策利好的共同驱动下，乐观估计2026年中国磷酸铁锂正极材料总产量将达 580万吨，同比增长约53%。 2026年国内磷酸铁锂材料新扩产的产线大多做的是更高端的产品，而非低端产品的简单复制，行业竞争 格局正呈现"头部集中、中小出清"的态势。湖南裕能、德方纳米、龙蟠科技等龙头企业纷纷加码高压 实、长循环等高端产品布局。 当前，国内磷酸铁锂行业面临结构性过剩，但高性能产品需求旺盛。未来企业能否在磷酸铁锂行业立 足，关键取决于两大核心能力：一是高端差异化产品的研发与生产能力，二是大规模生产下的产品一致 性控制能力。 图2 2025年我国磷酸铁锂材料主要企业产量占比 图3 我国磷酸铁锂正极材料出口量(吨) 近一年来，国内磷酸铁锂行业出现了一轮总额超2400亿元的巨额订单锁定潮，涉及宁德时代、楚能新能 源、亿纬锂能、欣旺达、比亚迪等多个头部电池厂商，其中宁德时代是最大买家，其采购金额占总额的 绝大部分。 ...