1月7日，国内期市有色金属板块多数飘红。其中，沪镍期货主力合约开盘报143500.00元/吨，今日盘中 高位震荡运行；截至发稿，沪镍主力最高触及147720.00元，下方探低142020.00元，涨幅达6.89%附 近。 目前来看，沪镍行情呈现震荡上行走势，盘面表现偏强。对于沪镍后市行情将如何运行，相关机构观点 汇总如下： 南华期货（603093）分析称，印尼供给端政策预期扰动，印尼2026年镍矿生产配额削减约34%至2.5亿 吨，市场对供给收缩预期反应迅速，政策面利好支撑镍价上涨，宏观层面情绪回暖，短期偏强运行。 正信期货表示，短期来看，政策预期仍将主导市场情绪，镍价或维持偏强态势，但需警惕产业链需求跟 进不足及政策落地不及预期的回调风险。操作上建议谨慎追高，关注印尼政策执行情况效果及下游不锈 钢、新能源需求复苏情况，注意风险控制。 兴业期货指出，26年印尼削减镍矿供应暂难证伪，固态电池产业化新增利好提振需求预期，叠加宏观环 境向好、镍相较铜价的比值尚处于偏低位置，虽然镍基本面弱现实未改，但当前宜持有多头思路。 ...

Group 1 - The core point of the news is the significant market movement in solid-state battery stocks, driven by the announcement of the world's first commercially viable all-solid-state battery by Finnish startup Donut Lab [1] - Solid-state batteries are expected to revolutionize the electric vehicle industry due to their superior energy density, charging speed, cycle life, and adaptability to extreme environments [1] - Aijian Securities believes that the industrialization of solid-state batteries is accelerating, with a high likelihood of using sulfide electrolytes and silicon/lithium metal anodes, which offer better mechanical properties and ionic conductivity [1] Group 2 - According to statistics, several companies have been highlighted in institutional research reports regarding solid-state batteries, including Tianci Materials, Haixi Communications, and Xiamen Tungsten New Energy [2] - Tianci Materials is in the pilot testing stage for sulfide electrolytes, focusing on performance advantages in moisture control and cycle efficiency, with plans to establish a hundred-ton pilot production line by mid-2026 [2] - Xiamen Tungsten New Energy has achieved supply of positive electrode materials for oxide route solid-state batteries and has successfully produced ton-level oxide solid electrolytes [2] Group 3 - Predictions indicate that several solid-state battery concept stocks, such as Enjie Co., Rongbai Technology, and Ganfeng Lithium, are expected to see a significant increase in net profits this year, with some companies projected to double their net profits [3] - Other companies like Tiannai Technology and EVE Energy are also expected to experience net profit growth exceeding 50% [3]

本报记者 李万晨曦 中信证券测算，2030年全球固态电池总出货量将超700GWh，其中全固态电池超200GWh。目前我国半固态电池已经量 产，全固态电池也在加速追赶，其整体目标是在2026年—2027年实现上车和小批量产，2030年实现商业化。 1月6日，A股固态电池板块表现亮眼，多只个股实现大幅上涨。 固态电池的产业化进程备受市场关注。据了解，在日前举行的2026年国际消费电子展（CES 2026）上，芬兰初创公司 Donut Lab宣布将推出其所称的"全球首款可用于OEM车辆量产的全固态电池"。 盘古智库（北京）信息咨询有限公司高级研究员余丰慧在接受《证券日报》记者采访时表示，作为新能源电池领域终极技 术方向之一，全固态电池以固态电解质替代传统液态电解液，是破解传统锂电池续航焦虑与安全隐患的核心方案。 市场不断升温 全固态电池领域利好频出，使得市场热度不断攀升。 政策层面，2025年12月30日，全国汽车标准化技术委员会发布《电动汽车用固态电池 第1部分：术语和分类》（征求意见 稿）。中国城市发展研究院投资部副主任袁帅表示，作为全球首部电动汽车用固态电池国家标准草案，其不仅明确了固态电池 的技术术语与分类 ...

Core Viewpoint - The solid-state battery industry is accelerating towards commercialization, with significant advancements and market interest in related stocks [4][19]. Market Performance - On January 6, the A-share market saw major indices rise, with the Shanghai Composite Index closing up 1.5%, marking a 13-day consecutive increase and reaching a ten-year high [12]. - Several sectors, including non-ferrous metals, non-bank financials, and defense, saw gains exceeding 3%, while others like oil and coal also performed well [14]. - Over 400 stocks increased by more than 5%, with notable historical highs reached by companies such as Zijin Mining and China Pacific Insurance [14]. Solid-State Battery Developments - Donut Lab announced the launch of the world's first commercially viable all-solid-state battery, set to be showcased at CES 2026 [18]. - This battery boasts advantages in energy density, charging speed, cycle life, and adaptability to extreme environments, potentially transforming the electric vehicle industry [19]. - The industry consensus is moving towards solid-state technology, with expectations for small-scale production and process stabilization by 2027 [19]. Company Insights - Companies like Tianqi Lithium and Xiamen Tungsten have been highlighted for their advancements in solid-state battery materials and production capabilities [20][21]. - Analysts predict significant profit growth for solid-state battery concept stocks, with companies like Enjie and Rongbai Technology expected to see net profits double this year [10][22]. - The solid-state battery sector is anticipated to benefit from new manufacturing processes and equipment, with firms specializing in solid-state battery production likely to gain a competitive edge [8][21].

Industry Information - CATL plans to apply sodium batteries on a large scale in fields such as battery swapping, passenger cars, commercial vehicles, and energy storage by 2026, indicating a new trend of "sodium-lithium dual star shining" [9] - The National Bureau of Statistics reported that profits in the equipment manufacturing industry increased by 7.7% year-on-year from January to November 2025, significantly contributing to overall industrial profit growth [9] - Gansu's 14th Five-Year Plan emphasizes the cultivation of new consumption types, including digital, green, and intelligent consumption, to stimulate economic growth [10] - NIO's battery swapping network has expanded significantly, with over 1,000 new battery swapping stations established within a year [12] - The Chinese automotive market is seeing a surge in electric vehicle sales, with a market share of 79.2% for pure electric models in Israel, led by the Chery Jetour 7 [16][17] Policy Information - The Ministry of Industry and Information Technology has initiated a carbon footprint declaration for automotive power batteries, aiming to establish a management system by the end of 2026 [26] - The 2026 "old-for-new" vehicle subsidy policy will adjust to a percentage of the vehicle price, with a maximum subsidy of 20,000 yuan for new energy vehicles [26][27] - The State Council's guidelines promote high-quality development of the power grid, supporting the construction of charging infrastructure and optimizing the connection process for charging facilities [39] - The implementation of the "Beautiful China Pilot Zone" action plan aims to establish a multi-modal green transportation system and enhance the charging infrastructure for electric vehicles [23] - The Guangdong Shenzhen District has issued management measures for new energy vehicle charging and swapping facilities, mandating a minimum installation ratio for charging facilities in new buildings [32][33]

截至2026年1月6日 09:52，上证科创板新能源指数(000692)强势上涨2.91%，成分股高测股份(688556)上 涨15.93%，奥特维(688516)上涨12.75%，固德威(688390)上涨10.50%，微导纳米(688147)，骄成超声 (688392)等个股跟涨。科创新能源ETF(588830)上涨2.79%，最新价报1.55元。 消息面上：（1）固态电池首个国家标准《电动汽车用固态电池第1部分：术语和分类》公开征求意见。 （2）红旗研发总院研发的首台全固态电池包成功装载于红旗天工06车型试制下线，正式进入实车测试 阶段。（3）贝特瑞与深圳清研电子签署合资公司合作协议，双方将就推动干法电极产业化工作展开深 入合作。（4）芬兰初创企业DonutLab宣布推出全球首款具备商业化量产条件的全固态电池（能量密度 400wh/kg），该产品将在2026年CES展会展出，并计划2026Q1搭载于Verge摩托车中。（5）后续大厂产 线招标、2月7-8日第三届中国全固态电池创新发展高峰论坛和5月13-15日2026年CIBF展会或将为固态电 池相关行情提供持续催化。 券商研究方面，有机构指出，国家市场 ...

Group 1 - Solid-state batteries surpass existing liquid lithium-ion batteries in energy density, safety, lifespan, and performance potential, marking a significant technological revolution in electric vehicles, energy storage, and consumer electronics [1] - Ulaanbaatar City is focusing on solid-state battery materials and equipment manufacturing as a key direction for transformation, aiming to create a distinctive industrial cluster [1] - The city has established a coal tar deep processing production line with an annual capacity of 300,000 tons and a needle coke production facility with a capacity of 50,000 tons, forming a competitive industrial chain for battery anode materials [1] Group 2 - Qingtao (Ulaanbaatar) Energy Technology Co., Ltd. is set to produce 50,000 tons of solid-state battery materials and 10 GWh of solid-state batteries and energy storage systems, significantly boosting the local solid-state battery industry [2] - Ulaanbaatar's climate is ideal for solid-state battery production due to its dry environment, and the region offers significant advantages in electricity costs and supporting industries [2] - The city has a planned solid-state battery industrial park covering over 1,700 acres, with expectations that the industry chain's output value will exceed 21.5 billion yuan by 2030, with anode and cathode material capacities reaching 200,000 tons and solid-state battery capacity reaching 30 GWh [2] Group 3 - Ulaanbaatar aims to develop two industrial clusters focused on solid-state battery materials and equipment manufacturing, as well as biodegradable new materials, to create a modern industrial system that is small yet strong [3]

行 业 研 华福证券 电力设备 2026 年 01 月 04 日 电力设备 究 行 业 动 态 我国首份固态电池标准进入征求意见阶段，看好 2026 年固态电池投资机遇 投资要点： 事件： 全国标准信息公共服务平台显示，国家标准计划《电动汽车用固态电池 第 1 部分：术语和分类》已经从起草进入到了征求意见阶段，为我国车用固 态电池标准体系的首个国家标准草案。 不仅是国内首个也是全球首个固态电池标准，将护航固态电池产业化 提速 跟 踪 根据同步披露的《编制说明》，截止目前暂未识别到国际、国外已发布的固 态电池标准，这也意味着，该征求意见稿是全球首个固态电池国家标准草 案。开展的车用固态电池标准化研究，有利于统一评价手段、规范产品质 量、支撑政府管理，基于强制性国家标准的逐步完善，车用固态电池产品 才能获取更清晰更真实的符合全固态电池的 3C 认证证书，将为市场端导入 铺平道路。 明确了固态电池统一定义，取消了"半固态电池"表述 首次在国家层面将电池划分为液态电池、混合固液电池和固态电池，这就 意味着"半固态电池"可作为"混合固液电池"的许用术语，全固态电池可 作为"固态电池"许用术语。我们认为这一规范，将极大减 ...

Core Viewpoint - The solid-state battery narrative is moving closer to industrialization, with multiple companies making significant moves in technology collaboration, equity binding, and mergers to enhance the supply chain and production capacity [2][7]. Group 1: Company Developments - Xinjie Energy has launched its first batch of products from a 10GWh solid-state lithium metal battery project, emphasizing the importance of solid electrolyte film formation and interface integration for applications in eVTOL, robotics, and consumer electronics [2]. - Tiantian Technology has deepened its collaboration with Xinjie Energy by investing 300 million yuan for a 5.7692% stake, transitioning from a simple order relationship to a more integrated equity partnership [3]. - Haimeixing's investment fund has also increased its stake in Xinjie Energy, now holding 0.7634% equity, while the company claims to have streamlined the entire production process for lithium metal solid-state batteries [4]. - Jiyuan Technology has strategically invested 5 million yuan in Shenzhen Lithium Silicon New Materials, which focuses on ultra-thin lithium metal anode materials, positioning itself within the supply chain of Xinjie Energy [5]. - Shengxin Lithium Energy has established a new solid-state battery materials technology company with a registered capital of 20 million yuan, expanding its operations into new materials research and battery manufacturing [6]. - Ganfeng Lithium's solid-state battery platform is targeting high-value applications and overseas markets, collaborating with Zhejiang Fengli New Energy to develop technologies for drones and robotics [7]. Group 2: Industry Trends - The recent activities of these companies indicate a shift from conceptual discussions about solid-state batteries to tangible actions involving capacity, equipment, materials, and capital allocation [7][8]. - The supply chain is increasingly focusing on new nodes such as lithium metal anodes, solid electrolyte film formation, and ultra-thin lithium metal materials, marking a transition from laboratory research to industrial production [7].

Core Viewpoint - The solid-state battery industry is experiencing a clear trend towards lithium sulfide (Li₂S) as the mainstream choice for solid electrolytes, with a focus shifting from technology routes to the support of key materials [3][6]. Group 1: Industry Trends - The competition among various technology routes, such as all-solid-state versus semi-solid-state batteries, is converging, with major automakers and battery manufacturers aligning towards lithium sulfide [3][4]. - Major automakers like Toyota, Honda, and Nissan are adopting lithium sulfide technology, while battery manufacturers such as CATL and BYD are also investing in this direction [4]. Group 2: Chemical Properties of Lithium Sulfide - Lithium sulfide (Li₂S) is gaining attention due to its favorable chemical properties, which allow for efficient lithium ion migration, making it suitable for solid-state electrolytes [6][9]. - The main types of lithium sulfide electrolytes include binary and ternary sulfides, with ternary sulfides like Li₁₀MP₂S₁₂ and Li₆PS₅X being more mainstream [7]. Group 3: Cost Considerations - The current price of battery-grade lithium sulfide is approximately 1940 RMB/kg (around 200,000 RMB/ton), which is significantly lower than lithium carbonate and lithium hexafluorophosphate [10][14]. - Lithium sulfide accounts for 70%-82% of the manufacturing cost of solid electrolytes, making it a critical variable in determining overall material costs [14][16]. Group 4: Challenges in Production - The production of lithium sulfide is complex and requires stringent conditions, making it more expensive compared to other lithium compounds like lithium carbonate [18][19]. - The current global production capacity for battery-grade lithium sulfide is still at the kiloton level, while lithium carbonate production is at the megaton level, leading to cost and efficiency challenges [19]. Group 5: Industry Development Timeline - The solid-state battery industry is at a pivotal moment, with significant advancements expected by 2027, as major companies prepare for mass production [23][24]. - Companies like Toyota and major chemical firms are planning to launch mass-produced solid-state battery vehicles by 2027, highlighting the urgency for upstream material supply [23][24].