实车预计在2026年年中上市。 作者 | 小鑫 编辑 | 小白 已规模化交付的企业 室 容百科技 毫 维科技术 宁德时代 s 普利特 毫 亿纬锂能 毫 派能科技 s 格林美 核心材料已量产 尽 当升科技 丛 多氟多 A 天赐材料 丛 中伟股份 A 振华新材 三、技术储备中试阶段 绕 湘潭电化 线 欣旺达 线 翔丰花 嵐 蔚蓝锂芯 & 圣阳股份 四、产业链配套及早期布局 2 美联新材 @ 中欣氟材 2 营田股份 2 直川股份 数据来源：上市公司财报、互联网公开信息|该内容仅供参考,不构成任何投资建议 免责声明： 本报告（文章）是基于上市公司的公众公司属性、以上市公司根据其法定义务公开披露的信息（包括但 不限于临时公告、定期报告和官方互动平台等）为核心依据的独立第三方研究；市值风云力求报告（文章）所载内 容及观点客观公正，但不保证其准确性、完整性、及时性等；本报告（文章）中的信息或所表述的意见不构成任何 投资建议，市值风云不对因使用本报告所采取的任何行动承担任何责任。 以上内容为 市值风云APP 原创 未获授权 转载必究 INS . (行业动态) 2月5日：长安汽车亮相全球首款钠电池量产乘用车，预计 2026年中 ...

Investment Rating - The report maintains a "Strong Buy" rating for the industry, indicating a positive outlook for investment opportunities in the sector [2]. Core Insights - Indonesia's resource nationalism is intensifying, with the government tightening mining policies to increase fiscal revenue amid significant budget deficits. This includes controlling RKAB supply, adjusting HPM pricing formulas, and conducting antitrust investigations to establish a global pricing system based on Indonesian mineral costs [4][10]. - The depletion of high-grade nickel resources is prompting a policy shift towards protecting reserves. The government has stopped approving new RKEF projects and is expected to favor low-grade nickel resources, aligning with the needs of the new energy industry [4][10]. - A significant reduction in RKAB quotas is anticipated for 2026, with estimates suggesting a drop to 250-260 million tons from 379 million tons in 2025, potentially leading to a supply gap of 40-50 million wet tons [4][10]. - The HPM pricing formula may be revised, which could increase costs for wet processing projects significantly, thereby raising the global marginal cost line for nickel products [4][10]. - The report suggests monitoring the implementation of Indonesian policies and recommends focusing on companies such as Huayou Cobalt, Liqin Resources, and Zhongwei New Materials [4]. Summary by Sections 1. Progression of Resource Nationalism - The Indonesian government is tightening RKAB quotas, signaling a reduction to 250-260 million tons for 2026, a 34% decrease from 2025 [10]. - The government is enhancing scrutiny of monopolistic risks in the Morowali Industrial Park (IMIP) and may adjust the HPM pricing formula to include by-products like cobalt [10][10]. 2. Supply-Side Changes - The report highlights the shift in focus from high-grade nickel to low-grade nickel due to the depletion of high-grade resources, with a projected supply gap in 2026 [4][10]. - The anticipated changes in RKAB quotas and HPM pricing are expected to create a structural shift in the industry, impacting supply and pricing dynamics [4][10]. 3. Investment Recommendations - The report advises investors to keep an eye on the specific implementation of Indonesian policies and suggests companies that may benefit from these changes [4].

Group 1 - The core viewpoint of the news highlights the decline of the China Rare Earth Industry Index by 4.45% as of February 5, 2026, with leading stocks such as Jinfeng Technology and China Aluminum experiencing significant drops [1] - The U.S. plans to initiate a critical mineral reserve project, the "Treasury Plan," which reinforces the long-term premium logic of rare earths as "strategic metals" [1] - Research institutions believe that the strategic position of global rare earth resources is continuously improving, marking the entry of the rare earth industry into a new era of high-quality development [1] Group 2 - On the supply side, quota controls and regulatory policies are expected to strengthen the rigid logic of supply, while on the demand side, emerging fields such as electric vehicles, humanoid robots, and low-altitude economy are anticipated to drive long-term high growth in demand [1] - It is projected that starting in 2026, the global supply-demand gap for rare earths will continue to expand, with prices expected to remain stable or increase, leading to sustained improvement in the profitability of the industry chain [1] - CITIC Securities' research report recommends strategic allocation value in the rare earth industry chain due to these favorable conditions [1] Group 3 - The China Rare Earth Industry Index closely tracks the performance of listed companies involved in rare earth mining, processing, trading, and applications, reflecting the overall performance of the rare earth industry [2] - As of January 30, 2026, the top ten weighted stocks in the index include Northern Rare Earth, Jinfeng Technology, Xiamen Tungsten, and China Aluminum, collectively accounting for 61.43% of the index [2] Group 4 - The Rare Earth ETF by Jiashi (516150) serves as a convenient tool for investors to gain exposure to the domestic rare earth industry chain [3] - Investors can also utilize the Jiashi Rare Earth ETF Connect Fund (011036) to seize investment opportunities in the rare earth sector [4]

证券日报网讯2月4日，格林美（002340）在互动平台回答投资者提问时表示，公司一直重视股东的意见 与建议，并会根据市场情况和公司战略规划做出合理的决策，以更好的业绩回报股东。 ...

证券日报网讯 2月4日，格林美在互动平台回答投资者提问时表示，格林美作为中国最大的钨资源循环 利用企业，年循环再生的钨资源占中国原钨开采量的10%。公司自主开发的全球领先钨回收与高端材料 再制造技术，可高效处理复杂钨废料，并生产APT、钨粉、碳化钨粉等高附加值产品，该技术已荣获中 国循环经济协会技术发明一等奖。目前，格林美已与多家钨产业领军企业建立定向循环合作，2025年回 收循环再造的钨资源总量突破1万吨，成功打造了公司在关键金属资源循环利用领域的新增长极。 （文章来源：证券日报） ...

证券日报网讯 2月4日，格林美在互动平台回答投资者提问时表示，2025年，公司取得了关键金属循环 回收增量、印尼镍资源项目全面达产、高端新能源材料市场持续突破等经营成果，推动公司业绩实现大 幅增长，预计2025年度归属于上市公司股东的净利润为142，856.81万元—173，468.99万元，同比增长 40%—70%，最终具体财务数据敬请关注公司2025年年度报告。 （文章来源：证券日报） ...

Group 1 - The company, Greeenmei, has achieved an annual nickel metal production capacity of 150,000 tons (including equity interests) and is operating at full capacity [1] - By 2025, the company expects to ship over 110,000 tons of nickel resources in MHP (including equity interests) [1] - The company's annual recycled tungsten resources account for 10% of China's total tungsten mining output, with a projected total recycled tungsten resource exceeding 10,000 tons by 2025 [1] Group 2 - The company's recovery and processing capacity for gold and other precious metals has reached over a ton [1]

证券日报网讯2月4日，格林美（002340）在互动平台回答投资者提问时表示，在退役动力锂电池循环利 用领域，格林美率先提出构建新能源全生命周期价值链的理念，打造了"电池回收—电池剩余能量梯次 再利用—原料再制造—材料再制造—电池再装配"的新能源全生命周期价值链，与全球1100余家车企和 电池厂建立合作关系。公司在中国建成的6个动力锂电池回收工厂覆盖珠三角、长三角、京津冀、华中 区域，全部列入工信部白名单，每年消纳处理中国10%的退役锂电池。 ...

证券日报网讯2月4日，格林美（002340）在互动平台回答投资者提问时表示，公司已于2026年1月30日 发布《2025年度业绩预告》，预计2025年度归属于上市公司股东的净利润为142856.81万元～173468.99 万元，同比增长40%～70%。公司存货主要为满足生产所需的钴、镍等关键原材料及在产品、库存商 品，在金属价格上行周期下，库存收益将对业绩产生一定的积极影响。 ...

Core Viewpoint - The company, Greeenme (002340), has achieved mass production of sodium-ion battery materials, which have been certified by specific automotive manufacturers and energy storage system producers, indicating its leading position in advanced battery technology [1] Group 1 - The sodium-ion battery materials have received certifications from specific automotive manufacturers [1] - The company has officially commenced mass production of these materials [1] - The company demonstrates leading capabilities in the field of advanced battery technology [1]