锂电投产启新篇 川能动力三季报释放绿色增长新动能

Core Viewpoint - Chuaneng Power's third-quarter report highlights significant growth driven by the large-scale production of lithium spodumene from the Lijiagou mine, resulting in a 28.52% year-on-year increase in revenue to 609 million yuan and a more than 12-fold increase in net profit to 41.48 million yuan [1] Financial Performance - In Q3, Chuaneng Power's revenue reached 609 million yuan, marking a 28.52% increase year-on-year [1] - The net profit attributable to shareholders surged over 12 times to 41.48 million yuan [1] Lithium Resource Development - The Lijiagou lithium spodumene mine achieved significant production milestones, with 635,500 tons of raw ore mined and 98,200 tons of raw ore sold from January to September 2025, alongside 83,700 tons of lithium concentrate sold, all showing substantial year-on-year growth [3] - By the end of August, the Lijiagou project had reached its designed capacity, producing 4,200 tons of raw ore daily [3] Market Dynamics - The price of battery-grade lithium carbonate has been on the rise, with a maximum increase of over 50% this year, driven by improved supply-demand fundamentals and positive market sentiment [1] - The domestic sales of new energy electric vehicles increased by 35% year-on-year in the first nine months of 2025, with an annual growth rate projected to exceed 30% [4] Strategic Initiatives - Chuaneng Power is advancing its integrated "mine-salt" strategy, which is expected to enhance profit margins by reducing lithium carbonate production costs as the project reaches full capacity [4] - The company is also progressing with six wind power projects and one solar project, with a total installed capacity of 970,800 kW and 800,000 kW respectively, while a new solar project is in the preparatory phase [5] Industry Outlook - The lithium battery sector is experiencing a robust supply-demand balance, with many leading manufacturers having orders booked into the next year [5] - The rapid growth of the new energy sector is transforming China's energy structure, shifting from resource dependence to technology reliance, and fostering sustainable growth in the green economy [5][6]