CATL(SZ:300750) 财联社·2025-11-08 04:34Core Viewpoint - The lithium battery industry chain is experiencing a surge in cooperation and partnerships among companies, driven by strong demand in both the power and energy storage markets, indicating a new high prosperity cycle for the battery materials sector [2]. Company Announcements - On November 6, Jia Yuan Technology announced a cooperation framework agreement with CATL to collaborate comprehensively on new battery anode current collector materials, including solid-state battery copper foil [4]. - On November 6, Tianci Materials released two announcements indicating that its wholly-owned subsidiary, Jiujiang Tianci, signed supply guarantee framework agreements and annual procurement contracts with Zhongchuang Xinhang and Guoxuan High-Tech [5]. - On October 31, Tianhua New Energy announced that its actual controllers signed a share transfer agreement with CATL to transfer 108 million shares at a price of 24.49 yuan per share, totaling 2.635 billion yuan [6][7]. - On September 18, Fulian Precision signed a 1.5 billion yuan advance payment agreement with CATL to secure lithium iron phosphate supply [8]. Industry Trends - Strong downstream demand is driven by two main factors: 1. From January to September 2025, China's new energy vehicle sales increased by over 34% year-on-year, significantly boosting power battery installation [10]. 2. As of September 2025, China's new energy storage installation capacity experienced several-fold growth year-on-year, ranking first in the world, creating new significant demand for electrolytes [10]. - According to Wind data, since August 2025, the price of electrolytes and their core raw material, lithium hexafluorophosphate, has rebounded significantly, with prices increasing by over 140% compared to the low point in July [10]. Key Electrolyte Concept Stocks - Tianci Materials: A global leader in electrolytes with a complete integrated industry chain from lithium salts to electrolytes [13]. - Xinzhou Bang: A leading domestic electrolyte company with layouts in high-end chemical fields such as fluorinated liquids [13]. - Duofluor: Main products include lithium hexafluorophosphate, covering mainstream electrolyte manufacturers [13]. - Shida Shenghua: Covers electrolyte solvents, additives, and electrolytes, with production bases in Dongying and Wuhan [13]. - Jiangsu Guotai: Business includes electrolytes and related trade, achieving year-on-year growth in the first three quarters of 2025 [13]. - Tianji Co., Ltd.: Main business includes lithium hexafluorophosphate [14]. - Huasheng Lithium Battery: Main business includes electrolyte additives [15]. - Haike Xinyuan: Main business includes electrolyte solvents and has signed raw material supply agreements with downstream companies [15].