锂行业深度报告：破冰寻锂系列1：中国盐湖集团成立，青海盐湖迎来发展新台阶

Investment Rating - The industry rating is "Positive" (maintained) [8] Core Insights - The global development of new energy is on the rise, making lithium resources strategically significant. In 2024, China's new energy vehicle production and sales are expected to reach 12.888 million and 12.866 million units, respectively, representing year-on-year growth of 34.4% and 35.5%, with new energy vehicles accounting for 40.9% of total vehicle sales [1] - Salt lake brine is the primary form of lithium resources globally, with over 60% of lithium resources existing in this form. China has approximately 6.8 million tons of proven lithium resources, with about 80% in salt lake brine, mainly distributed in Qinghai and Tibet [2][12] - Qinghai has established a carbonated lithium production capacity of approximately 179,000 tons, with a utilization rate of about 69% expected in 2024. The domestic salt lake carbonated lithium production is projected to reach 123,500 tons, accounting for 19% of the total domestic production [3][26] Summary by Sections Section 1: Salt Lake Brine as a Major Lithium Resource - Salt lake brine is the main form of lithium resources in China, with proven lithium resources amounting to about 6.8 million tons, primarily in Qinghai and Tibet [2][12] - The technology for lithium extraction from salt lakes has matured, and further optimization can enhance production capacity [2][26] Section 2: Development of Qinghai Salt Lake - The Qinghai salt lake has become the main supplier of carbonated lithium in China, with a projected production of 123,500 tons in 2024 [3][26] - The establishment of the China Salt Lake Group is expected to further promote the development of Qinghai salt lakes, with a target of achieving an industry output value of 340 billion yuan by 2025 and 700 billion yuan by 2030 [4][26] Section 3: Lithium Extraction Technologies - Various lithium extraction methods are being utilized, with adsorption and membrane methods becoming mainstream due to their efficiency and environmental benefits [5][21] - The coupling of adsorption and membrane methods is particularly effective for high magnesium-lithium ratio salt lakes, making it a preferred extraction route [5][24] Section 4: Investment Recommendations - In the context of limited overseas lithium resources, domestic high-quality lithium resources are becoming increasingly valuable. Key recommendations include companies like Salt Lake Co., Cangge Mining, and Blue Sky Technology, which are well-positioned in the lithium extraction sector [6][26]