Core Viewpoint - The lithium iron phosphate (LFP) industry is facing significant challenges, including continuous losses for over three years, rising raw material costs, and pressure from downstream battery manufacturers, leading to a critical need for resolution in the industry [2][3][4]. Industry Challenges - The LFP material prices have plummeted from 173,000 yuan/ton to 34,000 yuan/ton from the end of 2022 to August 2025, a decline of over 80%, while the average debt ratio of six listed companies in the sector is 67.8% [3][4]. - The industry is experiencing a dual squeeze, with upstream raw material prices rising while downstream battery manufacturers refuse to accept price increases, creating a situation where companies face losses regardless of whether they accept orders or not [8][10]. Demand Growth - The core application scenarios for LFP are expanding, with the penetration rate of new energy vehicles exceeding 45% in China, and a projected demand increase of over 30% for LFP materials in the coming year [6][8]. - The energy storage sector is expected to see a 60% year-on-year increase in installed capacity by 2025, with global energy storage battery shipments predicted to grow by 30% in 2026 [6][8]. Competitive Landscape - Chinese LFP products hold a dominant position in the global market due to technological, cost, and supply chain advantages, despite attempts by other countries to reduce reliance on Chinese products [7][8]. - The average cost of LFP production is around 15,600 to 16,200 yuan/ton, while the current market price is approximately 14,770 yuan/ton, leading to losses of nearly 1,000 yuan for every ton sold [9][10]. Industry Response - The establishment of the LFP Materials Subcommittee aims to address industry challenges by auditing costs and providing transparent pricing data to help companies set reasonable prices and curb destructive competition [13][14]. - Companies are exploring collective price increases to counteract the pressure from battery manufacturers, with some firms already controlling production capacity to stabilize prices [14][15]. Future Outlook - The anticipated demand from both domestic and international markets suggests that LFP prices are likely to rise, with projections indicating potential price increases by the end of this year and into the first half of next year [15].

Core Viewpoint - The company has made significant progress in lithium supplementation technology, launching a lithium supplementation enhancer that improves various performance metrics of lithium-ion batteries [1] Group 1: Product Development - The lithium supplementation enhancer can enhance cycle performance, calendar life, and energy density of lithium-ion batteries [1] - It effectively improves fast charging performance, battery cell efficiency, low-temperature performance, and charge-discharge efficiency [1] - The product reduces battery self-discharge, providing a competitive edge in the market [1] Group 2: Market Position - The company has gained exclusive project designations, indicating a growing number of orders for its lithium supplementation enhancer [1] - Orders have begun to be delivered in various sectors, including power batteries, energy storage batteries, and semi-solid batteries [1]

Core Viewpoint - The company has made significant advancements in lithium supplementation technology, introducing a lithium supplementation enhancer that leads the global market in technology upgrades [2]. Group 1: Technological Advancements - The company is the first globally to launch a lithium supplementation enhancer, which improves the cycling performance, calendar life, and energy density of various lithium-ion batteries [2]. - The lithium supplementation enhancer enhances fast charging performance, increases cell efficiency, improves low-temperature performance, and reduces self-discharge of batteries [2]. Group 2: Market Position and Orders - The company possesses a first-mover advantage and performance leadership in the lithium supplementation market [2]. - There is a gradual increase in exclusive project orders for the lithium supplementation enhancer, with initial deliveries starting in fields such as power batteries, energy storage batteries, and semi-solid batteries [2].

Core Viewpoint - 德方纳米 is currently in the process of obtaining mining rights for its investment in 马尔康锂业 through a renewable energy fund [1] Group 1 - 德方纳米 is involved in the lithium industry through its stake in 马尔康锂业 [1] - The company is actively pursuing mining rights, indicating a strategic move to enhance its position in the lithium market [1]

Core Viewpoint - The company, 德方纳米, has announced its current production capacities for phosphate-based cathode materials and lithium enhancement agents, indicating a strong position in the battery materials sector [1] Group 1: Production Capacity - The existing production capacity for phosphate-based cathode materials is 370,000 tons per year [1] - The production capacity for lithium enhancement agents is 5,000 tons per year [1] - There is an additional 80,000 tons per year of phosphate-based cathode materials currently in the debugging phase [1]

Core Viewpoint - The company has a current production capacity of 370,000 tons per year for phosphate-based cathode materials and 5,000 tons per year for lithium-enhancing additives, with an additional 80,000 tons per year of phosphate-based cathode materials under trial [1] Group 1 - The company aims to effectively release its existing production capacity [1] - Future capacity expansion will be driven by downstream market demand [1]

Core Insights - The price of lithium iron phosphate (LFP) has rebounded, increasing approximately 10% since early October, driven by strong demand from automotive manufacturers and battery producers, as well as a surge in global energy storage needs [2][3] - Major companies in the LFP sector are experiencing high order volumes, with production lines operating at full capacity, indicating a robust market environment [3][5] - The development of high-pressure compact LFP technology is prompting material companies to upgrade their technology and adjust production capacity structures [2][6] Price Trends - As of November 14, the average price of LFP reached approximately 38,400 yuan per ton, reflecting a cumulative increase of 3,300 yuan per ton since early October, which corresponds to a 10% rise [3] - Leading LFP producers have initiated a new round of price negotiations, increasing prices by 1,000 to 2,000 yuan per ton for certain customers, signaling a potential bottoming out of prices [3] Demand and Production - The domestic power battery installation volume in China reached 84.1 GWh in October, marking a year-on-year increase of 42.1%, with LFP battery installations at 67.5 GWh, up 43.7%, capturing an 80.3% market share [4] - Companies such as Hunan Youneng and Deyang Nano are reporting full order books and continuous full-capacity production, with LFP orders extending into the first half of next year [5][6] Technological Advancements - The shift towards high-pressure compact LFP technology is changing the competitive landscape, with leading firms holding technological advantages in advanced product iterations [6][7] - Companies are actively innovating and iterating their products, with Hunan Youneng's new series of high-pressure compact LFP products gaining market traction [6][7]

证券代码：300769 证券简称：德方纳米 公告编号：2025-078 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 11 月 20 日（周四）14:30-17:00，其中公 司与投资者互动的时间为 15:40-17:00。 届时公司部分董事和高管将在线就公司业绩、公司治理、发展战略、经营状 况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资 者踊跃参与。 特此公告。 深圳市德方纳米科技股份有限公司 关于参加 2025 年度深圳辖区上市公司投资者 网上集体接待日活动的公告 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。 董事会 为进一步加强与投资者的互动交流，深圳市德方纳米科技股份有限公司（以 下简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上 市公司协会与深圳市全景网络有限公司联合举办的"2025 年度深圳辖区上市公 司投资者网上集体接待日活动"，现将相关事项公告如 ...

Core Viewpoint - The article discusses the rapid growth of overseas demand for lithium iron phosphate (LFP) and the acceleration of LFP production capacity expansion by leading companies in various countries, while also highlighting the challenges faced by some companies in their international ventures [2][5]. Group 1: Overseas Expansion of LFP Production - Leading LFP companies are planning significant production capacities overseas, with Hunan YN planning 50,000 tons in Spain and 90,000 tons in Malaysia, and Wanrun New Energy planning 50,000 tons in the USA [2]. - Longpan Technology has already put into production 30,000 tons of LFP in Indonesia, with a second phase of 90,000 tons expected to be operational by 2026 [3]. Group 2: Challenges Faced by Companies - Defang Nano has halted its joint venture project in Europe due to changes in market conditions, international policies, and company strategy, which affected the project's economic viability [4][5]. - The joint venture was initially announced in January, with a planned investment of €285 million, but it has not yet progressed to construction or operation, resulting in minimal financial impact on Defang Nano [5]. Group 3: Market Trends and Product Development - The market is witnessing a polarization where high-end LFP products are in short supply, while low-end products face oversupply, leading to pressure on certain companies [6]. - Defang Nano has made progress in high-end product development, with fourth-generation high-density LFP products gaining customer recognition, comprising about 20%-30% of their product structure [6]. - The company has also developed fifth-generation high-performance LFP materials, which are currently in trial production [6]. Group 4: Industry Demand Shifts - Battery manufacturers are transitioning their demand towards advanced LFP materials, with CATL announcing the mass production of fifth-generation LFP batteries that achieve breakthroughs in energy density, cycle life, and low-temperature performance [7][8].

Core Viewpoint - The company, 德方纳米, has decided to terminate its joint venture project with ICL Group Ltd, valued at €285 million (approximately RMB 2.35 billion), just ten months after signing the agreement [1]. Group 1 - The termination was attributed to changes in market conditions, international policies, and the company's strategic direction, which affected the project's economic viability and introduced significant uncertainty regarding expected returns [4]. - To optimize resource allocation and reduce investment risks, the company and its joint venture partner mutually agreed to terminate the project [4]. - 德方纳米 emphasized that it has not yet made any actual contributions to the project, incurring only minor preliminary expenses related to travel and consulting [5].