Group 1 - The core focus of the recent institutional research by Kaifeng Investment is on Xiangtan Electric Chemical, specifically its electrolytic manganese dioxide and lithium manganese oxide businesses [1] - The electrolytic manganese dioxide sector is characterized by a stable industry structure with moderate demand growth [1] - Xiangtan Electric's subsidiary, Guangxi Lijin New Materials Co., is collaborating with solid-state battery companies to develop lithium manganese oxide for semi-solid/solid-state battery applications, currently in small batch sample testing phase without generating revenue [1] Group 2 - The price of electrolytic manganese dioxide remains stable, while the price of lithium manganese oxide is subject to fluctuations due to raw material lithium carbonate [1] - Lithium manganese oxide has broad applications in 3C digital products, power tools, and two-wheeled vehicles, and can be combined with other cathode materials to expand its application range [1] - To address cost pressures in the lithium manganese oxide industry, the company plans to enhance its precursor self-sufficiency, increase R&D efforts, and improve product performance and competitiveness [1]
【私募调研记录】凯丰投资调研湘潭电化