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Core Viewpoint - Nord Co., Ltd. has established itself as a leading supplier of lithium battery copper foil globally, despite facing a net loss in recent financial results, the company is focusing on high-value-added products and expects to improve profitability in the future [1][2]. Financial Performance - For the fiscal year 2024, the company reported a revenue of 5.277 billion yuan, an increase of 15.44% year-on-year; however, the net profit attributable to shareholders was a loss of 352 million yuan, a decrease of 1387.59% [1]. - In Q1 2025, the company achieved a revenue of 1.409 billion yuan, up 34.29% year-on-year, while the net profit attributable to shareholders was a loss of 37.67 million yuan, an improvement of 60.09% year-on-year [1]. Product Development and Innovation - The company emphasizes R&D innovation, focusing on developing thinner, higher tensile strength, and higher elongation lithium battery copper foil products, including ultra-thin copper foil below 4.5 microns and high-end electronic circuit copper foil products [2][3]. - The company has successfully achieved stable mass production of 3-micron lithium battery copper foil and has seen rapid adoption of its 4.5-micron products by customers [2]. Market Outlook - The demand for lithium battery copper foil is expected to grow significantly due to the rapid development of the new energy vehicle and energy storage sectors, with China's new energy vehicle sales projected to reach 16.497 million units by 2025, accounting for 73.6% of global sales [4]. - Global lithium battery shipments are forecasted to grow from 1,545.1 GWh in 2024 to 5,127.3 GWh by 2030, with a compound annual growth rate (CAGR) of approximately 22.4% [4]. Industry Trends - The demand for high-end PCB copper foil is anticipated to rise, driven by advancements in AI technology and the growth of consumer electronics and servers, with a projected CAGR of 10% for high-end PCB copper foil demand by 2030 [5]. - The company is strategically positioning itself to meet the high-end PCB copper foil market demand by establishing advanced production lines in Hubei Huangshi [5].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000537 证券简称：中绿电 公告编号：2025-044 债券代码：148562 债券简称：23绿电G1 天津中绿电投资股份有限公司 关于高级管理人员辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 天津中绿电投资股份有限公司（以下简称"公司"）董事会于2025年6月3日收到钱海先生的书面辞职报 告，钱海先生因工作变动提请辞去公司副总经理职务。辞去上述职务后，钱海先生将不再担任公司任何 职务。 根据《公司法》《公司章程》等有关规定，上述辞职报告自送达董事会之日起生效，钱海先生辞职不会 影响公司正常生产经营和管理活动。 截至本公告日，钱海先生未持有公司股票。钱海先生在公司任职期间，勤勉尽职，认真负责，公司董事 会对钱海先生任职期间为公司发展所做出的贡献表示衷心的感谢！ 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 特此公告。 天津中绿电投资股份有限公司 董事会 2025年6月4日 证券代码：000537 证券简称：中绿电 公告编号：2025 ...

Core Viewpoint - Anhui Liuguo Chemical Co., Ltd. plans to raise no more than 800 million yuan through a private placement to invest in a 280,000 tons/year battery-grade refined phosphoric acid project, with a total investment of 1.194 billion yuan and a payback period of 6.55 years [2][6]. Group 1 - The total investment for the 280,000 tons/year battery-grade refined phosphoric acid project is 1.194 billion yuan, with 800 million yuan to be raised through fundraising [3]. - The company primarily engages in the production and sales of phosphate fertilizers and fine chemical products, being one of the larger integrated manufacturers in East China [5]. - The new project will significantly enhance the company's refined phosphoric acid production capacity, aligning with the growing demand from the electric vehicle and energy storage industries [6]. Group 2 - The refined phosphoric acid serves as a core raw material for lithium iron phosphate, which has seen substantial growth in production and sales due to the rapid development of the end-user industries [6]. - The investment will shift the company's focus from basic fertilizers to high-end phosphorous chemical products, indicating a strategic pivot in its business model [6]. - However, the industry faces challenges such as an imbalance in supply and demand, with several projects in the lithium iron phosphate battery supply chain being terminated due to market saturation and price declines [7].

Investment Rating - The investment rating for the company is "Accumulate" [5] Core Views - The company is experiencing a decline in performance for 2024, with a projected revenue of 4.41 billion yuan, down 8.79% year-on-year, and a net profit of 416.26 million yuan, down 41.71% year-on-year [1][4] - The automotive segment revenue is expected to be 3.78 billion yuan, a decrease of 10.87% year-on-year, with a significant drop in sales volume by 16.2% [2] - The company is focusing on new sectors such as energy storage and humanoid robots while maintaining its core competency in aluminum alloy lightweight technology [2][3] Financial Performance Summary - For 2024, the company anticipates a revenue of 44.09 billion yuan, with a net profit of 4.16 billion yuan, and a basic earnings per share (EPS) of 0.45 yuan, reflecting a decline of 41.56% year-on-year [1][4] - In Q1 2025, the company reported a revenue of 10.46 billion yuan, down 8.12% year-on-year, and a net profit of 0.96 billion yuan, down 39.15% year-on-year [1] - The company’s EBITDA for 2024 is projected at 1.18 billion yuan, with a net profit margin of 9.44% [4][11] Operational Strategy - The company is enhancing its internal operational management capabilities and expanding its production capacity, with a focus on cost optimization through technological innovation [3] - It has established a production network across China, North America, and Southeast Asia, aiming for a "China + North America + Southeast Asia" triangular capacity network [3] - The company is implementing a centralized procurement and strategic cooperation model with key suppliers to manage costs effectively [3]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [5] Core Views - The company is experiencing a decline in performance for 2024, with a projected revenue of 4.41 billion yuan, down 8.79% year-on-year, and a net profit of 416.26 million yuan, down 41.71% year-on-year [1][4] - The automotive segment revenue is expected to be 3.78 billion yuan, a decrease of 10.87% year-on-year, with a significant drop in sales volume by 16.2% [2] - The company is focusing on new growth areas such as energy storage and humanoid robots while leveraging its core aluminum alloy lightweight technology [2][3] Financial Performance Summary - For 2024, the company anticipates a revenue of 44.09 billion yuan, with a net profit of 4.16 billion yuan, reflecting a significant decline compared to the previous year [1] - The first quarter of 2025 shows a revenue of 10.46 billion yuan, down 8.12% year-on-year, and a net profit of 0.96 billion yuan, down 39.15% year-on-year [1] - The company’s earnings per share (EPS) for 2024 is projected at 0.45 yuan, a decrease of 41.56% year-on-year [1] Operational Strategy - The company is enhancing its internal operational management capabilities and expanding its production capacity, with a focus on cost optimization through technological innovation [3] - It has established a production network across China, North America, and Southeast Asia, aiming to provide integrated lightweight solutions to global customers [3] - The company is implementing a "zero inventory" management model and optimizing supply chain collaboration to improve inventory turnover rates [3]

Core Viewpoint - The lithium battery industry is experiencing a recovery in orders, particularly in the energy storage sector, with a global trend towards large-scale energy storage following the European household storage boom [1] Group 1: Industry Trends - The rapid development of AI is increasing the energy consumption burden on the global power industry due to the high energy requirements of hardware, model building, data centers, and temperature control systems [2] - The scale of energy storage is expected to grow significantly, driven by the high growth rates in the sales of new energy vehicles in China, with Q1 2023 showing approximately 50% and 47% growth in production and sales respectively [3] - Two new sectors are emerging as opportunities in the battery industry: data center energy storage, with over 150 new computing center projects this year, and the robotics sector, where 15 companies are already involved [4] Group 2: Company Performance - In Q1 2023, major battery manufacturers showed varied performance, with CATL, EVE Energy, and others reporting positive growth, while Ganfeng Lithium faced losses but saw a significant narrowing of those losses [6][7] - CATL continues to lead the industry with record battery sales and successful bids for large energy storage projects, such as a 19GWh project in the UAE [7] - EVE Energy is maintaining a steady growth strategy, focusing on both power and energy storage batteries without major disruptions [7] - Guoxuan High-Tech is expanding aggressively overseas, with significant revenue growth from international markets [8] - Despite challenges, companies like Dofluorid and others are adapting by diversifying their product offerings and improving profitability [8] Group 3: Competitive Landscape - The overall battery market in Q1 2023 showed positive trends, with increasing sales in both power and energy storage batteries, and a shift in supply-demand dynamics leading to inventory clearance [11] - The market is expected to undergo significant adjustments in 2024, with intensified competition and rapid product innovation across various battery types [11] - The demand for lithium resources is stable domestically, but cobalt prices may rise due to export restrictions from the Democratic Republic of Congo, while nickel resources remain a concern due to high external dependency [12] - The competition in the energy storage sector is likely to be global, with companies leveraging emerging markets such as AI, XR, robotics, and drones [12]

Group 1: Charging and Battery Swap Market - The domestic charging market is expected to grow as the number of new energy vehicles increases and charging infrastructure improves, with a focus on high-quality development [2] - The penetration rate of fast charging is anticipated to rise, supported by government policies encouraging the construction of charging stations [2][3] - The battery swap market is experiencing rapid growth, bolstered by national policies promoting battery swap models [3][4] Group 2: Energy Storage Industry - The energy storage market is transitioning towards low-carbon energy systems, with new energy storage being a key support for carbon neutrality goals [3][4] - The ongoing electricity market reform is creating a favorable environment for new energy storage development, enhancing market opportunities [4] Group 3: Competitive Actions in Energy Storage - The company is enhancing product efficiency and reliability to address industry challenges and maintain competitiveness [4] - Continuous technological innovation and customized solutions are being pursued to increase product value in the energy storage sector [4][5] Group 4: Applications of Power Quality Products - The company's power quality products are applicable across over thirty industries, including high-end equipment manufacturing, transportation, and public facilities [5][6] - The company is expanding its market presence through product development and channel expansion, achieving leading market share in various segments [5][6] Group 5: Advantages in AIDC and Data Center Preparation - The company’s products, such as active filters and uninterruptible power supplies, are well-suited for data centers and intelligent computing centers [5][6] - With the growth of AI and data center demands, the company is preparing for increased capital expenditures in this sector [5][6][7] Group 6: Future Directions and Safety Considerations - The company is committed to enhancing safety in data center solutions, recognizing the industry's stringent safety requirements [7] - Future preparations will focus on exploring and developing solutions tailored for data centers, aiming to become a comprehensive power solution provider [7]

Group 1: New Energy Vehicle Sector - The China Securities New Energy Vehicle Industry Index (930997) decreased by 1.64% as of May 30, 2025, with major stocks like Mengguli (301487) dropping 7.04% and BYD (002594) down 2.56% [1] - The New Energy Vehicle ETF (515700) also fell by 1.67%, with a recent price of 1.59 yuan, but showed a 3.19% increase over the past month [1] - The ETF experienced a significant increase in scale, growing by 16.24 million yuan over the past month, ranking in the top half among comparable funds [1] Group 2: Automotive Parts Sector - The China Securities Automotive Parts Theme Index (931230) declined by 1.56% as of May 30, 2025, with Hai Lian Jin Hui (002537) leading gains at 10.04% while Dongfeng Technology (600081) fell by 7.47% [4] - The Automotive Parts ETF (159306) decreased by 1.94%, with a latest price of 1.11 yuan, but had a 0.62% increase over the past week [4] - The ETF's scale increased by 6.19 million yuan over the past three months, ranking in the top half among comparable funds [5] Group 3: Photovoltaic Sector - The China Securities Photovoltaic Industry Index (931151) fell by 1.22% as of May 30, 2025, with Nanwang Energy (003035) rising by 9.98% while Tongwei Co. (600438) dropped by 3.00% [5] - The Photovoltaic ETF (516180) decreased by 1.31%, with a recent price of 0.53 yuan, but showed a 1.33% increase over the past month [5] Group 4: New Materials Sector - The China Securities New Materials Theme Index (H30597) declined by 1.09% as of May 30, 2025, with Guangwei Composite (300699) gaining 2.46% while Tongwei Co. (600438) fell by 3.06% [8] - The New Materials ETF Index Fund (516890) decreased by 0.61%, with a recent price of 0.49 yuan, but had a 1.24% increase over the past month [8] Group 5: Market Trends and Insights - The State-owned Assets Supervision and Administration Commission emphasized the need for breakthroughs in key technologies to support the development of national automotive brands [10] - The new energy sector is experiencing significant internal differentiation, with specific areas like humanoid robots and solid-state batteries expected to drive demand for core components [11] - The photovoltaic industry faces challenges with oversupply and profitability pressures, with future opportunities lying in overseas production and new technologies [11]

Report Industry Investment Rating - Not provided in the given content. Core Viewpoints - The supply of domestic lithium carbonate in May is expected to be loose, with a decrease in the domestic social inventory of lithium carbonate compared to the previous week. The prices of lithium carbonate futures and various lithium-related products have generally declined, while the production and inventory of some lithium products may change in different directions. It is recommended that investors mainly short on price rebounds, paying attention to the support level around 53,000 - 60,000 and the resistance level around 66,000 - 70,000 [6]. Summary by Related Catalogs Lithium Carbonate Futures - On May 28, 2025, the closing prices of near - month, continuous - one, continuous - two, and continuous - three contracts of lithium carbonate futures decreased compared to the previous day. The closing price of the active contract was 60,380 yuan/ton, down 540 yuan; the trading volume was 388,140 lots, down 4,329 lots; the open interest was 283,607 lots, down 10,088 lots; and the inventory was 33,854 tons, down 300 tons [1]. Lithium Spot Prices - The average prices of various lithium - related products such as lithium ore, lithium carbonate, lithium hydroxide, etc. mostly decreased on May 28, 2025, compared to the previous day. For example, the average price of battery - grade lithium carbonate (99.5%/domestic) was 61,500 yuan/ton, down 500 yuan [1]. SMM Lithium Carbonate Inventory - As of May 22, 2025, the total SMM lithium carbonate inventory was 131,779 tons, a decrease of 141 tons compared to the previous week. The inventory of smelters, downstream, and other sources all showed different degrees of decline [1]. Company News - Dazhong Mining has made important breakthroughs in its "iron ore + lithium ore" dual - wheel drive strategy, with rapid progress in its Hunan lithium ore project. Sijie Co., Ltd. released new sulfide products at the 2025 China International Battery Technology Exchange Conference, with leading - level product performance and large - scale orders. Hainan Mining's 20,000 - ton battery - grade lithium hydroxide project achieved full - process connectivity. Rio Tinto will form a joint venture with the Chilean National Mining Company to develop the Maricunga Salt Lake lithium project [1][2][3]. Supply and Demand Analysis - Supply: The total production capacity of Tianqi Lithium's Greenbushes 652,000 - ton wet - process project may reach 240,000 tons/year after it is put into operation in October 2025, which may lead to a decline in the prices of domestic and imported lithium ore. The production of lithium carbonate in May may increase, and the inventory may decrease. The production of lithium hydroxide may also increase, but the export volume may be affected by negative export profits [4]. - Demand: The production and inventory of phosphoric acid iron and lithium iron phosphate may increase. The production, installation, and export of lithium batteries, as well as the production and sales of new energy vehicles in May, may all increase [5][6].