政策及需求推动市场供需逆转 "公司磷酸铁锂三季度出货量环比继续保持双位数增长，订单已排到明年上半年。"安达科技高管11月13 日表示。这是当前需求驱动锂电行业景气度攀升的一个缩影。 正极材料、负极材料、隔膜和电解液是锂电行业四大关键材料。受新能源汽车、储能需求激增、技术迭 代及相关产业产能收缩等多因素影响，截至11月7日，电解液核心材料——六氟磷酸锂均价已达11.98万 元/吨，较9月15日的5.59万元/吨累计上涨114.31%。目前，天赐材料、多氟多、天际股份、石大胜华等 六氟磷酸锂产能规模居前十位的企业几乎全部满产。一场由供需逆转引发的产业链价值重估大戏正在上 演。 其中，10月28日，国家能源局下发《关于推进煤炭与新能源融合发展的指导意见》，提出将煤炭与新能 源融合发展纳入"十五五"相关能源规划。 11月8日国务院新闻办发布《碳达峰碳中和的中国行动》白皮书。白皮书指出，中国立足基本国情和发 展阶段，在保障能源安全的前提下，大力实施可再生能源替代，推进新型能源体系和新型电力系统建 设。 近日，国家能源局能源节约和科技装备司副司长边广琦表示，截至9月底，我国新型储能装机规模超过1 亿千瓦，与"十三五"末相 ...

Core Insights - The white paper titled "China's Actions on Carbon Peak and Carbon Neutrality" emphasizes the importance of transitioning to a green and low-carbon energy system to achieve carbon peak and neutrality goals [1][2] - China aims to reduce the proportion of fossil energy consumption from 84.0% in 2020 to 80.2% by 2024, while increasing the share of non-fossil energy from 16.0% to 19.8% during the same period [1][2] Group 1 - The white paper highlights the need for clean and efficient utilization of fossil energy, with a focus on controlling fossil energy consumption [1] - The document states that over the past decade, China has eliminated more than 100 million kilowatts of outdated coal power capacity [2] - The share of coal in total energy consumption is projected to decrease from 56.7% in 2020 to 53.2% by 2024 [2] Group 2 - China is committed to developing a new energy system and a new power system to support its dual carbon goals [1] - The country is enhancing the safety and risk resilience of its power system while promoting the integrated development of power sources, grids, loads, and storage [2] - The average annual increase in the share of non-fossil energy consumption is nearly 1 percentage point [1]

Core Insights - The white paper titled "China's Actions on Carbon Peak and Carbon Neutrality" emphasizes the importance of renewable energy in achieving China's dual carbon goals while ensuring energy security [1] Renewable Energy Development - China is prioritizing the development of non-fossil energy, aiming to increase its share of non-fossil energy consumption from 16.0% in 2020 to 19.8% by 2024, with an average annual increase of nearly 1 percentage point [1] - By the end of August 2025, the installed capacity of wind and solar power is expected to exceed 1.69 billion kilowatts, more than three times the capacity in 2020, contributing approximately 80% of the new power installations since 2020 [1] - The share of wind and solar power generation is steadily increasing at an average annual rate of 2.2 percentage points [1] Hydropower and Nuclear Energy - As of the end of August 2025, conventional hydropower installed capacity is approximately 380 million kilowatts, with pumped storage capacity at 62.365 million kilowatts [1] - There are 112 nuclear power units in operation, under construction, or approved for construction, with a total installed capacity of 125 million kilowatts, ranking first in the world [1] Green Hydrogen Production - By the end of 2024, green hydrogen production capacity is expected to exceed 150,000 tons per year, also ranking first globally [1]

Core Viewpoint - The white paper emphasizes that achieving carbon peak and carbon neutrality is a significant decision made by China based on its responsibility to humanity and the inherent requirements for sustainable development [2][3]. Group 1: Carbon Peak and Carbon Neutrality - The white paper outlines that China has firmly established and practiced the concept that "lucid waters and lush mountains are invaluable assets," taking strong actions to promote green and low-carbon transformation, achieving historic results over the past five years [2]. - It highlights that energy activities are the primary source of carbon emissions, and the green low-carbon transformation of energy is key to achieving carbon peak and carbon neutrality [2]. Group 2: Energy Green Low-Carbon Transformation - The white paper states that non-fossil energy has seen significant development, with the proportion of non-fossil energy consumption increasing from 16.0% in 2020 to 19.8% in 2024, an annual increase of nearly 1 percentage point [5]. - Wind and solar power generation capacity has tripled since 2020, contributing to about 80% of new power installations since then, with the share of wind and solar power generation steadily increasing at an annual rate of 2.2 percentage points [5]. Group 3: Key Areas of Low-Carbon Development - The white paper indicates that key sectors such as industry, transportation, construction, and residential life are significant sources of carbon emissions, and China is promoting the integration of traditional and emerging industries to enhance green low-carbon development [9]. - It mentions the rapid promotion of new energy vehicles, with China achieving the fastest and largest scale of new energy vehicle adoption globally [9]. Group 4: Key Carbon Reduction Pathways - The white paper reports that China has implemented energy-saving and carbon reduction actions, achieving an 11.6% decrease in energy consumption per unit of GDP during the first four years of the 14th Five-Year Plan [12]. - It highlights the establishment of approximately 150,000 waste recycling points and 1,800 sorting centers by the end of 2024, with a comprehensive utilization rate of major solid waste increasing by 3 percentage points compared to 2020 [13]. Group 5: Global Climate Governance - The white paper emphasizes China's commitment to multilateralism and international cooperation in global climate governance, actively promoting the signing and implementation of the Paris Agreement [15]. - It states that China has established energy cooperation platforms with six major regions and has signed energy cooperation partnerships with 34 countries along the Belt and Road Initiative [15].

Core Viewpoint - The white paper titled "China's Actions on Carbon Peaking and Carbon Neutrality" emphasizes China's commitment to achieving carbon peaking and carbon neutrality as a significant decision based on sustainable development and responsibility towards human civilization [4]. Group 1: Commitment to Carbon Neutrality - China has firmly established and practiced the concept that "lucid waters and lush mountains are invaluable assets," taking strong actions and making arduous efforts to promote a historical green and low-carbon transformation over the past five years [4]. - The white paper outlines that energy activities are the primary source of carbon emissions, and the green and low-carbon transformation of energy is crucial for achieving carbon peaking and carbon neutrality [4]. Group 2: Achievements in Energy Transition - Significant achievements have been made in the green and low-carbon transformation of energy, with a focus on renewable energy replacement and the construction of a new energy system and power grid to support the "dual carbon" goals [4]. - Energy conservation is highlighted as an important measure to reduce carbon emissions from the source, while circular economy practices and ecosystem carbon sinks are recognized as vital pathways for carbon reduction [4]. Group 3: Global Cooperation and Climate Governance - The white paper stresses that climate change is a common challenge for humanity, requiring broad global participation and collective action [5]. - China is committed to upholding multilateralism and promoting international cooperation, aiming to lead a new pattern of global climate governance with its own concepts and practices [5].

Core Viewpoint - The white paper emphasizes China's commitment to achieving carbon peak and carbon neutrality as a significant decision for sustainable development, highlighting historical achievements in green and low-carbon transformation over the past five years [1][2]. Group 1: Carbon Peak and Neutrality Goals - The white paper outlines the importance of achieving carbon peak and carbon neutrality, positioning it as a responsibility towards human civilization and sustainable development [1]. - It states that energy activities are the primary source of carbon emissions, making the green and low-carbon transition in energy a key factor in achieving these goals [1]. Group 2: Energy Transition and Achievements - China is implementing renewable energy alternatives and advancing the construction of a new energy system and power grid to support the "dual carbon" goals while ensuring energy security [1]. - Significant progress has been made in energy green and low-carbon transformation, with the implementation of energy-saving and carbon reduction actions [2]. Group 3: Global Cooperation and Climate Action - The white paper stresses that climate change is a common challenge requiring global participation and cooperation, with China advocating for multilateralism and international collaboration [2]. - China expresses willingness to work with the international community to build an ecological civilization and tackle global climate challenges together [2].

Core Viewpoint - The company, Jidian Co., Ltd. (000875.SZ), emphasizes that its Lishu green methanol innovation demonstration project aligns with national efforts to promote renewable energy and hydrogen energy, presenting a significant opportunity for the industry [1] Group 1: Project Significance - The green methanol project is positioned as a direct substitute for traditional marine fuel, which is crucial for deep decarbonization in the maritime transport sector [1] - This initiative is seen as an important method to accelerate the achievement of the "dual carbon" goals set by the country [1] Group 2: National Energy Strategy - The project addresses national energy security issues and aligns with the direction of energy development in the country [1]

Core Insights - China's electricity consumption in July surpassed 1 trillion kilowatt-hours for the first time, equivalent to Japan's total annual electricity consumption [1][3] - The energy supply in China has shown resilience and stability, with the government emphasizing the importance of domestic energy production and renewable energy sources [3] Group 1: Energy Consumption - In July, China's single-month electricity consumption reached over 1 trillion kilowatt-hours, marking a significant milestone [3] - The cumulative energy consumption during the "14th Five-Year Plan" period increased by 9.8 million tons of standard coal, comparable to the total energy consumption of the UK, France, and Germany in a year [3] Group 2: Energy Supply and Policy - The National Energy Administration has implemented measures to enhance energy supply chain stability and security, focusing on coal, oil, gas, and renewable energy [3] - Domestic energy production has accelerated, with over 90% of the increase in energy consumption being supported by domestic resources [3] Group 3: Renewable Energy Impact - Renewable energy has played a crucial role, contributing nearly 50% of the increase in national electricity generation and pushing the total supply of non-fossil energy up by nearly 50% [3] - The stability of China's energy self-supply has improved, with a growing emphasis on green energy sources [3]

Group 1 - The core viewpoint of the news is the emphasis on the progress and strategies of China's energy sector in achieving the "dual carbon" goals, focusing on green and low-carbon transformation during the 14th Five-Year Plan period [1][2] - The optimization of energy supply structure is highlighted, with 84% of new power generation capacity in the past four years coming from non-fossil energy sources, reaching 2.23 billion kilowatts by July this year, accounting for 60.8% of total installed capacity [1][2] - The target for non-fossil energy consumption proportion during the 14th Five-Year Plan is set at 20%, with last year's achievement at 19.8% and expectations to exceed this target this year [1][2] Group 2 - The optimization of end-use energy structure is being promoted, with electricity accounting for about 30% of total end-use energy, significantly higher than the global average [2] - The rapid development of new energy vehicles is noted, contributing to the peak consumption of refined oil [2] - The transformation and upgrading of traditional energy sources are ongoing, with 95% of coal-fired power units achieving ultra-low emissions and over 55% of coal mining capacity being intelligent by mid-year [2] Group 3 - The "Guiding Opinions on Vigorously Implementing Renewable Energy Substitution Actions" aims for renewable energy consumption to reach over 1.1 billion tons of standard coal by 2025 and 1.5 billion tons by 2030 [3] - The 2025 Energy Work Guidance emphasizes optimizing the layout of new energy and key industries, expanding application scenarios, and supporting zero-carbon park construction [3]

Group 1 - Chongqing Huike Jinyu Optoelectronics Co., Ltd. has established a comprehensive wastewater recycling management system and energy consumption management platform, achieving refined management of water and energy usage in manufacturing processes [1] - The Chongqing Smart Industry Park, where the company is located, has a water reuse rate of 97% and a comprehensive utilization rate of industrial solid waste of 89.83%, demonstrating resource circular utilization [1] - The development of green industrial parks is a reflection of China's efforts to accelerate the construction of a green, low-carbon, and circular economic development system, with over 490 national-level green industrial parks cultivated [1] Group 2 - The Guizhou province's Akesai County has a renewable energy base with a total investment exceeding 5 billion yuan, including a 110 MW solar thermal power station and a 640 MW photovoltaic project [2] - The project is expected to achieve full capacity grid connection by November 2024, with an annual power generation of 1.7 billion kWh, equivalent to the annual electricity consumption of 570,000 households [2] Group 3 - China has the largest and fastest-growing renewable energy generation capacity globally, with a target to reduce energy consumption per unit of GDP by 11.6% by 2024 compared to 2020, equating to a reduction of 1.1 billion tons of CO2 emissions [3] - The country is focusing on building a clean, low-carbon, safe, and efficient new energy system, emphasizing the importance of renewable energy in supporting economic and social development [3] Group 4 - Meituan's "Green Mountain Plan" has implemented smart recycling machines for plastic takeout boxes in 24 cities, recovering over 37,000 tons of plastic and contributing to a reduction of 57,000 tons of carbon emissions [4] - The initiative reflects a broader societal trend towards green and low-carbon lifestyles, including actions like food waste reduction and active participation in recycling [4] Group 5 - The National Development and Reform Commission is committed to developing a circular economy, enhancing resource conservation and utilization, and promoting the construction of a waste recycling system [5] - The focus is on advancing agricultural circular economy development and increasing the comprehensive utilization rate of mineral resources [5]