Core Points - The stock price of Kaizhong Co., Ltd. decreased by 2.01% on October 27, trading at 14.16 CNY per share with a market capitalization of 3.796 billion CNY [1] - Year-to-date, the stock has increased by 46.52%, with a recent 5-day decline of 0.49%, a 20-day increase of 16.26%, and a 60-day increase of 12.92% [2] - The company reported a revenue of 349 million CNY for the first half of 2025, a year-on-year growth of 0.89%, while net profit attributable to shareholders decreased by 15.20% to 37.79 million CNY [2] Company Overview - Kaizhong Co., Ltd. was established on July 31, 2000, and went public on January 20, 2017. The company is located in the Pudong New District of Shanghai [2] - The main business activities include the research, production, and sales of special damping components for chassis suspension systems and lightweight pedal assemblies for control systems. The revenue composition is as follows: damping components 67.82%, pedal assemblies 26.26%, rubber wheels 4.14%, and others 1.77% [2] - As of June 30, the number of shareholders increased by 49.92% to 36,300, with an average of 7,342 circulating shares per person, a decrease of 6.62% [2] Financial Performance - Since its A-share listing, Kaizhong Co., Ltd. has distributed a total of 590 million CNY in dividends, with 198 million CNY distributed over the past three years [3]

1. Report Title and Date - Title: Carbonate Lithium Weekly Report [2] - Date: October 27, 2025 [3] 2. Core Viewpoints Supply - side - Last week, carbonate lithium production increased by 405 tons week - on - week to 23,170 tons, and September production increased by 3.3% month - on - month to 95,442 tons [5]. - Ningde Jianxiawo Mine has been shut down for 3 months, and production enterprises in Yichun and Qinghai have received notices for the re - review of mining rights transfers, affecting supply [5]. - In the third quarter, Australian mines achieved cost control, with extremely limited further cost - reduction space, and most mainstream Australian mines have reduced their capital expenditure for fiscal year 2025 [5]. - In September 2025, China imported 711,000 tons of lithium concentrate, a 14.7% month - on - month increase. The top three importing countries were Australia, Nigeria, and Zimbabwe. The import from Australia increased by 64.1% month - on - month, from Zimbabwe decreased by 7.8% month - on - month, from Nigeria increased by 14.4% month - on - month, and from South Africa increased by 109,000 tons [5]. - In September, carbonate lithium imports were 19,597 tons, a 10.3% month - on - month decrease, with 11,000 tons from Chile, accounting for 55% [5]. - The CIF price of imported lithium spodumene concentrate increased week - on - week, and some manufacturers producing carbonate lithium from purchased lithium ore faced cost inversion. Self - owned ore and salt lake enterprises had some profit support, while lithium hydroxide manufacturers faced greater cost pressure [5]. Demand - side - The overall production schedule in October increased month - on - month, and in September, the production schedule of large battery cell factories increased by 8% month - on - month [6]. - In September, the total production of power and other batteries in China was 151.2 GWh, an 8.3% month - on - month and 35.4% year - on - year increase. The total export of power and other batteries was 26.7 GWh, an 18.2% month - on - month and 28.3% year - on - year increase. The sales volume of power and other batteries was 146.5 GWh, a 9.0% month - on - month and 42.2% year - on - year increase [6]. - The trade - in policy and the extension of the new energy vehicle purchase tax policy are expected to continue to support the rapid growth of China's new energy vehicle market sales [6]. Inventory - This week, carbonate lithium inventory showed a destocking trend, with a 1,040 - ton decrease in factory inventory and a 1,987 - ton decrease in futures inventory [6]. Strategy Suggestion - Before a clear result on the lithium mining license issue in Jiangxi, the domestic supply - demand remains in a tight balance, and it is expected that subsequent lithium salt imports from South America will supplement the supply [6]. - The terminal demand for energy storage continues to be strong. In September, the production schedule of large battery cell factories increased by 8% month - on - month, and in October, the cathode production schedule is expected to increase by 4% month - on - month [6]. - With profit recovery, lithium production from ore continues to increase, and the cost center shifts upward. The proportion of long - term contracts and customer - supplied products for battery factories increases, and warehouse receipts are continuously cancelled. It is expected that the short - term carbonate lithium price will be supported [6]. - As the verification and submission of reserve reports by Yichun mining enterprises are still undetermined and the downstream production schedule exceeds expectations, attention should be paid to the disturbances at the Yichun mining end. During the peak season, downstream enterprises actively purchase carbonate lithium, and it is expected that the price will continue to fluctuate strongly. Prudent trading is recommended, and continuous attention should be paid to the progress of mining licenses in Yichun mines and the resumption of production at Ningde Jianxiawo Lithium Mine [6]. 3. Key Data Tracking - The report presents multiple data charts, including the spot含税均价 of carbonate lithium, weekly and monthly production and inventory of carbonate lithium, average price of lithium concentrate, average production cost of carbonate lithium, production and related data of power batteries, production proportion of carbonate lithium from different raw materials, production of cathode materials (such as lithium iron phosphate, ternary materials), average price of lithium iron phosphate, import volume of carbonate lithium and lithium spodumene, and market price of ternary materials [9][10][12][14][19][21][24][25][27][29][33][35][39][41][43][45]

海信家电今年以来股价跌8.46%，近5个交易日涨1.04%，近20日涨0.00%，近60日跌1.52%。 10月27日，海信家电盘中上涨2.05%，截至13:14，报25.33元/股，成交2.16亿元，换手率0.94%，总市值 350.79亿元。 资金流向方面，主力资金净流入638.36万元，特大单买入326.99万元，占比1.52%，卖出869.71万元，占 比4.03%；大单买入6599.65万元，占比30.60%，卖出5418.57万元，占比25.12%。 分红方面，海信家电A股上市后累计派现69.64亿元。近三年，累计派现38.23亿元。 机构持仓方面，截止2025年6月30日，海信家电十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股2821.91万股，相比上期减少2065.41万股。南方中证500ETF（510500）位居第七大流通股 东，持股683.08万股，相比上期增加97.15万股。南方绩优成长混合A（202003）位居第九大流通股东， 持股461.36万股，相比上期减少148.51万股。 责任编辑：小浪快报 资料显示，海信家电集团股份有限公司位于广东省佛山市顺德区容桂街道容港路 ...

Company Overview - Huichuangda Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on February 2, 2004. The company was listed on November 18, 2020. Its main business involves the research, design, production, and sales of light guide structural components and precision key switch structural components [1][2]. Financial Performance - For the first half of 2025, Huichuangda achieved operating revenue of 697 million yuan, representing a year-on-year growth of 7.93%. However, the net profit attributable to the parent company was 32.21 million yuan, a decrease of 26.32% year-on-year [2]. - Since its A-share listing, Huichuangda has distributed a total of 116 million yuan in dividends, with 65.73 million yuan distributed over the past three years [3]. Stock Performance - As of October 27, Huichuangda's stock price decreased by 2.01%, trading at 34.63 yuan per share, with a total market capitalization of 5.99 billion yuan. The stock has increased by 46.61% year-to-date [1]. - Over the past five trading days, the stock rose by 2.91%, by 2.40% over the past 20 days, and by 16.84% over the past 60 days [1]. Shareholder Information - As of June 30, Huichuangda had 11,100 shareholders, an increase of 1.33% from the previous period. The average number of circulating shares per shareholder was 11,048, a slight increase of 0.04% [2]. Capital Flow - In terms of capital flow, there was a net outflow of 891,000 yuan from main funds, with large orders accounting for 27.26% of purchases and 18.35% of sales [1].

Core Points - Zhejiang Shibao's stock price decreased by 2.01% on October 27, trading at 13.19 CNY per share with a total market capitalization of 10.851 billion CNY [1] - The company has seen a year-to-date stock price increase of 16.62%, but a recent decline of 3.51% over the past five trading days [2] - Zhejiang Shibao's main business involves the research, design, manufacturing, and sales of automotive steering systems and components, with 95.55% of revenue coming from steering systems [2] Financial Performance - For the first half of 2025, Zhejiang Shibao reported revenue of 1.524 billion CNY, a year-on-year increase of 35.32%, and a net profit attributable to shareholders of 93.034 million CNY, up 39.09% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 209 million CNY, with 69.358 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 16.94% to 78,500, with no change in the average circulating shares per person [2] - In the top ten circulating shareholders, Invesco Great Wall Research Select Stock A is the fourth largest shareholder, having recently entered with 1.974 million shares [3]

Group 1 - The core viewpoint of the news is that CIMC Vehicles has experienced a decline in stock price and financial performance, with a notable drop in net profit and revenue for the year-to-date period [1][2]. - As of October 27, CIMC Vehicles' stock price decreased by 2.73%, trading at 9.28 CNY per share, with a total market capitalization of 17.392 billion CNY [1]. - The company has seen a net outflow of main funds amounting to 2.9415 million CNY, with large orders accounting for 17.33% of purchases and 27.40% of sales [1]. Group 2 - For the first nine months of 2025, CIMC Vehicles reported a revenue of 15.012 billion CNY, representing a year-on-year decrease of 5.13%, while the net profit attributable to shareholders was 622 million CNY, down 26.23% year-on-year [2]. - The company has distributed a total of 2.664 billion CNY in dividends since its A-share listing, with 1.655 billion CNY distributed over the past three years [3]. - As of September 30, 2025, the number of shareholders decreased by 16.07% to 29,800, while the average circulating shares per person increased by 19.17% to 48,786 shares [2][3].

周度报告—碳酸锂 旺季强现实驱动，盘面增仓上行 | 走势评级 | | --- | [Table_Summary] ★旺季强现实驱动，盘面增仓上行 上周锂盐价格偏强运行。LC2511 收盘价环比+4.3%至 7.89 万元/ 吨，LC2601 收盘价环比+4.9%至 7.95 万元/吨；SMM 电池级及工 业级碳酸锂现货均价环比+2.8%、2.9%至 7.54、7.32 万元/吨。氢 氧化锂价格企稳，SMM 粗颗粒及微粉型电池级氢氧化锂均价环 比+0.8%至 7.37、7.87 万元/吨。电工价差环比持平于 0.23 万元/ 吨。电池级氢氧化锂较电池级碳酸锂价格贴水环比走阔 0.15 万 元至 0.17 万元/吨。 有 色 金 属 上周碳酸锂增仓上行，主力合约 LC2601 录得近 5%的周涨幅， 同时持仓量环比增加 16 万手至 43 万手、创品种上市以来新高。 究其原因，我们认为是旺季内去库的强现实吸引部分增量资金涌 入。据 SMM，中国碳酸锂库存环比去化 0.23 万吨至 13.0 万吨， 周去库节奏有所加速。此外，前期停产的江西云母项目仍未给出 明确的复产时间点，近期市场传言项目复产或仍有不确定性。 向 ...

Core Insights - Bojun Technology reported a significant increase in revenue and profit for the first three quarters of 2025, with total revenue reaching 4.075 billion yuan, a year-on-year growth of 42.36%, and net profit attributable to shareholders at 627 million yuan, up 70.47% [1][2] Financial Performance - Basic earnings per share for the reporting period were 1.42 yuan, with a weighted average return on equity of 22.58% [2] - The company's gross margin for the first three quarters was 26.99%, an increase of 0.59 percentage points year-on-year, while the net margin was 15.38%, up 2.54 percentage points from the previous year [2] - In Q3 2025, the gross margin improved to 29.37%, a year-on-year increase of 4.83 percentage points, and the net margin reached 17.56%, up 5.64 percentage points year-on-year [2] Expense Analysis - Total operating expenses for Q3 2025 were 306 million yuan, an increase of 51.62 million yuan compared to the same period last year, with an expense ratio of 7.52%, down 1.38 percentage points year-on-year [2] - Breakdown of expenses showed sales expenses increased by 25.16%, management expenses by 40.27%, R&D expenses by 9.96%, and financial expenses by 0.30% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 18,600, an increase of 2,198 from the end of the previous half-year, representing a growth of 13.39% [2] - The average market value per shareholder rose from 700,400 yuan to 729,500 yuan, an increase of 4.15% [2] Company Overview - Bojun Technology, established on March 29, 2011, and listed on January 7, 2021, specializes in the R&D, design, production, and sales of precision automotive components and molds [3] - The company's main business revenue composition includes stamping business at 91.99%, other (supplementary) at 6.92%, injection molding at 1.08%, and commodity molds at 0.01% [3] - Bojun Technology is categorized under the automotive industry, specifically in automotive parts, and is associated with concepts such as pre-profit growth, NIO, Huawei Automotive, Tesla, and new energy vehicles [3]

Core Viewpoint - Rui Xin Technology (300828.SZ) is focusing on expanding its market presence and aims to attract more high-end clients in the automotive parts sector, currently serving major brands like Toyota, Honda, Geely, Volvo, Audi, BMW, and BYD, but not yet Chery [1] Group 1 - The company produces automotive parts primarily for traditional fuel vehicles and new energy vehicles [1] - Current clients include well-known automotive brands, indicating a strong market position [1] - Future plans involve enhancing market expansion efforts to secure additional high-end customers [1]

Group 1 - The core viewpoint of the article is that Ruixin Technology (300828.SZ) is actively expanding its market presence and aims to attract more high-end clients in the automotive parts sector [1] Group 2 - The company produces automotive parts and components primarily used in traditional fuel vehicles and new energy vehicles from brands such as Toyota, Honda, Geely, Volvo, Audi, BMW, and BYD [1] - Currently, the company's products have not been applied to Chery Automobile [1] - The company plans to strengthen its market expansion efforts in the future [1]