关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：鑫椤锂电、封面：图虫创意 行情变化： 根据 ICC鑫椤资讯测算， 以当前磷酸铁锂电芯平均价格水平来看，终端对于碳酸锂价格的承受水平约 在 11.2万元 左右。 0 1 0 2 行业聚焦： 0 3 锂电情绪指数： 近日美国强行控制委内瑞拉，对新能源市场会有一定影响。根据 ICC鑫椤资讯调研数据显示，近6成产 业客户认为短期将利多新能源。这主要是由于委内瑞拉作为我国主要的石油供应国之一，在被美国强行 控制后，对于后期我国石油采购量及成本会有负面影响，间接利好新能源发展。另一方面，部分汽车和 锂电池企业也担心，美国加速拉美布局，可能会影响到后期中资企业在智利、阿根廷、巴西等的新能源 产业发展，会对后期锂盐资源供应造成影响。 1月5日，ICC电池级碳酸锂（99.5%）现货结算指导价格为 122000 元 /吨 ，较上一工作日 上涨 2000 元 ；电池级氢氧化锂（ 56.5%粗颗粒）结算指导价格为 98000 元 /吨 ，较上一工作日 上涨 2000 元 。 期货方面， 1月5日，碳酸锂期货放量上行，主力合约收于 1 ...

2025年是达州东部经开区建设发展的第4年，从"全力筹建"的夯基垒台，到"全速建设"的加速快跑，再 到"全员招商"的全面发力，达州东部经开区勇担全市"双园驱动"战略核心引擎重任，交出了经济量质齐 升、创新活力迸发、民生福祉增进的亮眼答卷。 中新网四川新闻1月5日电 (记者 张浪)4日，达州东部经开区举办"阔步十五五、奋进新征程"汇报大会。 大会明确"十五五"时期，达州东部经开区将坚持"大抓工业、重抓制造业"，奋力建成千亿级产业园区和 国家级经开区。 四年来，达州东部经开区发展始终以创新为核心密码，在产业培育上精准发力，加速构建多点支撑产业 格局。以方大达钢为链主企业，延链补链、聚链强链，全力打造千亿级现代钢铁产业集群。更有以星空 钠电、正宏储能为核心的千亿级新能源电池产业集群蓄势待发，与国际化工巨头巴斯夫达成战略合作， 构建从关键材料、电芯制造到系统集成、回收利用的产业闭环，抢占产业发展"制高点"。重庆邑丰新能 源改性甲醇燃料、全场景智健家居综合生产等项目加速落地，百亿级能源化工和智能制造产业集群雏形 初现。 招商模式上，达州东部经开区在产业链招商、基金招商全链条发力，成果丰硕。2025年，全年签约15个 项 ...

2026年1月5日午后，创业板新能源ETF华夏（159368）涨幅扩大至2.52%。盘面上，成分股普涨，仅4只 个股下跌，道氏技术涨停，罗博特科上涨12.20%，先导智能、富临精工等涨超6%；截至发文，创业板 新能源ETF华夏（159368）成交额达6227万元，居同类基金首位。 消息面上，埃隆·马斯克2025年12月31日通过社交平台发布重磅消息，旗下脑机接口公司Neuralink计划 于2026年启动脑机接口设备大规模量产，并同步推出全自动化外科手术流程。这一规划标志着脑机接口 技术从临床验证阶段向产业化落地迈出关键一步，也成为A股人脑工程板块的强力催化。 公司面上，12月25日，道氏技术控股子公司认购强脑科技Pre-B轮优先股完成交割，推进碳材料在脑机 接口、电子皮肤等前沿领域的应用。作为国内最早量产单壁碳纳米管的企业之一，公司单壁碳纳米管粉 体性能已与进口产品相当，也是脑机接口电极材料的关键导电增强剂。 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新能源 指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159 ...

2025年12月份，我国新能源重卡销量再创新高，整体销量达到3.45万辆，同比大涨 191%。 2025年以来表现一直突出新能源牵引车表现如何？销量能否同步创造新高？增速会不 会"跑"得更快？ 答案是肯定的。请看第一商用车网带来的新能源牵引车市场观察。 12月新能源牵引车新增2.86万辆，同比大涨195% 徐工超4000辆月榜摘冠， 解放/三一 /陕汽/重汽超3000辆 根据重型货车营运证入网数据统计，2025年12月份，有12家企业新能源牵引车销量超过 100辆，且这12家企业销量均超过300辆，销量破千的企业达到9家（较上月增加2家）。 排名榜首的徐工12月份销量突破4000辆，达到4222辆；解放、三一、陕汽和重汽排名月 榜第2-5位，销量均超3000辆，分别达到3841辆、3759辆、3665辆和3147辆；福田销 售2011辆排名月榜第6位；排名月榜7-9位的东风、远程和联合重卡12月份销量也超过 1000辆，分别达到1809辆、1169辆和1114辆；宇通销售363辆排名月榜第10位，排名 10名开外的领程和江淮也超过300辆，分别达到361辆和340辆。 2025年 12月 新能源牵引车营运证销 ...

Core Insights - Chery Group has achieved record-breaking performance in 2025, excelling in sales, exports, new energy vehicles, and quality, marking a significant year for the company [1][3]. Sales Performance - Chery Group sold 2.80639 million vehicles in 2025, a year-on-year increase of 7.8%, with a total global user base reaching 18.53 million [3]. - Chery Automobile Co., Ltd. sold 2.63138 million vehicles, reflecting an 8% increase year-on-year [7]. Export Achievements - In December 2025, Chery exported 144,430 vehicles, a 46.8% increase, marking the first time monthly exports exceeded 140,000 units [12]. - The total annual export reached 1.34402 million vehicles, up 17.4%, with cumulative exports hitting 5.85 million vehicles, maintaining the top position in Chinese brand passenger car exports for 23 consecutive years [12]. New Energy Vehicle Success - Chery sold 903,850 new energy vehicles in 2025, achieving a remarkable year-on-year growth of 54.9%, positioning itself among the industry's leaders [3]. - Popular models include the Wind Cloud A9L and Wind Cloud T11, with the latter receiving 38,000 orders within 24 hours of launch [14]. Quality Recognition - Chery received a nomination for the "China Quality Award" and ranked first among domestic brands in various quality assessments by J.D. Power [12]. - The company has 60 models that have received five-star safety ratings globally, with 20 models achieving this in 2025 alone [12]. Strategic Initiatives - Chery implemented a "Four New Layout" strategy focusing on new fuel, new energy, new overseas markets, and new industries [11]. - The company has established a global R&D system and is advancing solid-state battery technology [23]. Capital Market Developments - Chery successfully completed its IPO on the Hong Kong Stock Exchange in 2025, marking a new phase in its global capital strategy [21]. - The company improved its ranking in the Fortune Global 500, rising 152 places to 233rd [21]. Future Outlook - For 2026, Chery aims to exceed industry growth rates by 10-20 percentage points, focusing on high-quality development and brand enhancement [24][26]. - Analysts from Guosen Securities express optimism about Chery's future, highlighting its strong historical foundation and rapid growth in revenue and profitability [28].

Report Title - Supply shortage combined with weak US dollar expectations drive copper prices to new highs - January copper monthly report, released on January 5, 2026 [1] Report Industry Investment Rating - Not mentioned in the provided content Core Viewpoints - Weak US dollar expectations and concerns about supply shortages in the copper industry have pushed up copper prices, and demand from new energy, power, and AI computing still provides support. Copper prices are expected to remain strong at high levels in the short term, with limited downside potential for corrections. In the medium to long term, copper prices still have upward potential due to the increasing demand from global energy transformation, AI infrastructure, and power grid upgrades [5][92][93] Summary by Directory 1. Market Review - In December, copper prices reached new highs. Before the holiday, the main contract of Shanghai copper broke through the 100,000 yuan/ton mark, with a monthly increase of 12.6%. As of December 31, the closing price of Shanghai copper was 98,240 yuan/ton. Weak US dollar expectations and concerns about supply shortages in the industry pushed up copper prices, while demand from new energy, power, and AI computing still provided support. Traditional off - season led to a slowdown in downstream demand, and domestic copper inventory increased [5] 2. Macroeconomic Factor Analysis Overseas Macroeconomy - US inflation pressure has eased, with the CPI and core CPI in November lower than expected, reaching the lowest level since 2021. However, the accuracy of CPI data is in doubt due to the federal government shutdown. The employment market remains weak, with the unemployment rate rising to 4.6% in November, the highest since September 2021. The comprehensive PMI in December hit a six - month low, and the dollar index weakened significantly [11][15] Domestic Macroeconomy - China's price level has rebounded, with the CPI in November rising by 0.7% year - on - year, the highest since March 2024. The PPI decreased by 2.2% year - on - year but increased by 0.1% month - on - month. Social financing growth has recovered, with the cumulative social financing scale from January to November reaching 33.39 trillion yuan, 3.99 trillion yuan more than the same period last year. The official manufacturing PMI in December returned to the expansion range, and the economic sentiment level improved [17][19] 3. Fundamental Analysis Mine Supply - In 2025, there were frequent disruptions in global copper mines, and the ICSG lowered the mine supply growth forecast from 2.3% to 1.4%. From January to October, the global copper concentrate production was 19.139 million tons, with a cumulative year - on - year increase of 1.93%, and the growth rate continued to decline. As of December 26, the domestic copper concentrate port inventory was 670,000 tons, a year - on - year decrease of 24.72% [29] Smelting - Due to the continuous shortage of copper mines, processing fees have reached historical lows. The long - term processing fee benchmark for copper concentrates in 2026 between Chinese leading smelters and Antofagasta is $0/ton and 0 cents/pound, a significant drop from 2025. As of December 31, the spot rough smelting fee for copper concentrates was - $44.76/ton [31] Refined Copper - In December, China's electrolytic copper production was 1.178 million tons, a month - on - month increase of 6.8% and a year - on - year increase of 7.54%. The cumulative production from January to December increased by 1.372 million tons year - on - year, an increase of 11.38%. The capacity utilization rate in December was 83.30%, a month - on - month increase of 5.12 percentage points [35] Imports and Exports - In November, China's electrolytic copper imports decreased, with a total import volume of 269,200 tons, a month - on - month decrease of 3.84% and a year - on - year decrease of 25.20%. Exports increased significantly, with a total export volume of 143,000 tons, a month - on - month increase of 116.83% and a year - on - year increase of 1128.13% [39] Scrap Copper - In November, China's scrap copper imports increased, with an import volume of 208,143.09 tons, a month - on - month increase of 5.87% and a year - on - year increase of 19.99%. In December, the含税 price difference between refined copper and scrap copper continued to widen due to the sharp increase in copper prices [44] Processing - High copper prices have severely suppressed downstream orders, and the operating rates of refined copper rods and recycled copper rods are under pressure. In December, the high copper prices are expected to suppress the year - end production plans of some enterprises. The copper foil industry has high prosperity, but the high copper prices at the end of the year may suppress the operating rate [45][49] Terminal Demand - In the power sector, investment in power projects has slowed down, but the installed capacity of wind and photovoltaic power has increased steadily. The real estate market is still at the bottom, with new construction, completion, and sales areas all showing significant year - on - year declines. The new energy vehicle industry maintains high prosperity, and the growth rate of home appliance production has slowed down [53][57][60] Inventory - As of January 2, the copper inventory on the Shanghai Futures Exchange increased by 63.49% month - on - month. As of December 31, the domestic social copper inventory increased by 21.84% month - on - month. The COMEX copper inventory continued to increase, while the LME copper inventory decreased slightly [64][71] Premiums and Discounts - In December, the spot premium of Shanghai copper decreased significantly, while the LME copper spot/3 - month turned to a slight premium, and the New York - London copper price difference continued to decline [75] Domestic and Overseas Positions - As of December 31, the trading volume of Shanghai copper increased significantly. As of December 24, the net long positions of LME copper investment companies and credit institutions decreased significantly. As of December 23, the net long positions of COMEX copper asset management institutions continued to increase [77] 4. Technical Analysis - Technically, the price center of Shanghai copper has continuously risen and broken through new highs. After breaking through the 100,000 yuan/ton mark before the holiday and then falling back, the 100,000 yuan/ton mark will become an important psychological and technical dividing line, and it will become an important support level after the copper price breaks through [86] 5. Market Outlook - Fundamentally, the US inflation risk has slowed down, but the employment market is still weak. The Fed still has room for interest rate cuts, and the weak US dollar is expected to boost metal prices. The copper mine supply is continuously tight, and the copper price is expected to remain high and volatile in the short term. In the medium to long term, due to the increasing demand from global energy transformation, AI infrastructure, and power grid upgrades, the copper price still has upward potential. It is recommended to close long positions at high levels and wait and see or go long on dips [92][93]

关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：鑫椤锂电、封面图： 图虫创意 ICC鑫椤锂电数据显示，2 0 2 5年中国锂电铜箔有效产能1 2 4 . 5万吨，全年国内锂电铜箔总产量1 0 3 . 5 万吨，同比增长2 7 . 9 %。 加工费方面： 6 微米铜箔加工费较去年略有增长，目前市场均价 1.8-2.2 万元 / 吨。 5 微米与 4.5 微米铜箔因下游需求强劲、规模化生产推进，加工费较去年高位显著回落，目前市场均价 2.4-3.2 万 元 / 吨。 铜价与加工费双上涨 成本端： 铜矿供给方面： 2025 年全球铜矿供应扰动频发 。 一季度印尼暂停铜精矿出口、自由港铜矿减产；二 季度紫金矿业刚果（金）卡莫阿铜矿因地震减产 15 万吨； 7 月底智利 EI Teniente 铜矿因矿难停 产； 9 月初自由港 Grasberg 铜矿事故停产，预计 2027 年才恢复至事故前产能。 根据 国际铜研究组织（ ICSG ）发布的数据显示， 8—9 月全球铜矿产量同比负增长， 2025 年全球 铜矿产量预计下降 0.12% ，其中三季度全球二十大铜矿产量 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints The report focuses on the latest policies, industry developments, and upcoming events in the hydrogen energy industry. The National Development and Reform Commission is promoting the national green hydrogen, ammonia, and alcohol planning layout, and multiple regions have introduced relevant industrial policies. There are also many significant industrial developments, such as the launch of new projects and the delivery of new products. Additionally, a major industry conference is upcoming [3][6][12]. 3. Summary by Directory 3.1 Industry Policies - The National Development and Reform Commission promotes the national green hydrogen, ammonia, and alcohol planning layout, including building zero - carbon transportation corridors and stations, increasing new energy supply, etc. [3][6] - Beijing encourages the construction of renewable energy projects in factories and explores the use of hydrogen energy [6]. - Urumqi plans to add no less than 20,000 tons/year of green hydrogen production capacity by 2027 [6]. - Guangzhou Baiyun promotes the application of hydrogen - fuel - cell vehicles and supports the construction of hydrogen refueling stations [6]. - Shandong Zhaoyuan focuses on developing nuclear power, wind and solar equipment, energy storage batteries, and hydrogen production industries [6]. 3.2 Industry Dynamics - A 100 - million - yuan project for 100 sets of 1000 - standard - cubic - meter alkaline electrolyzer components is about to start [7]. - Kunhua Technology delivers 200 hydrogen - powered heavy trucks in Xinjiang Hami [8]. - Dalian Shipbuilding delivers the world's first methanol - dual - fuel - powered intelligent VLCC, with significant emission reduction [8]. - Rongcheng New Energy starts the trial operation of the first batch of hydrogen - assisted two - wheeled vehicles [8]. - Jieqing Technology delivers a new small - power closed - type air - cooled system for a German hydrogen - powered drone inspection project [8]. - A 3.534 - billion - yuan project for alloy solid - state hydrogen storage materials in Inner Mongolia is approved [8]. - A 4 - billion - yuan green hydrogen project of China Guangdong Nuclear Power is in the environmental impact assessment publicity stage [8]. - China National Coal Group signs a 200,000 - ton green methanol project in Inner Mongolia [8]. - Dongfang Hydrogen Energy unveils the "Hydrogen Intelligence Safety Center" [8]. - Sunlight and Longji are pre - selected for the bid of 29 alkaline electrolyzers of State Power Investment Corporation [9]. - CIMC Enric and Datang Hainan plan to cooperate on a green methanol project in Hainan [9]. - The first "carbon compensation" trade in the hydrogen energy field in China is completed in Zhejiang Jiaxing [3][9]. - China's first million - ton - level near - zero - carbon steel production line is fully connected, with a potential carbon reduction of 50% - 80% [3][9]. - Fujian's first hydrogen - powered zero - carbon bus demonstration line (Xiamen Route 736) is opened [3][9]. 3.3 Investment and Financing Events No investment and financing events are reported [10]. 3.4 Industry Conference Forecast The 2nd China Hydrogen Energy and Fuel Cell Technology Conference will be held from January 22 to 23, 2026, in Hefei, Anhui. The conference focuses on the innovation of the entire hydrogen fuel cell industry chain, and many well - known enterprises and institutions will participate [12].

大打新能源当量进攻战。干有效益的项目，育有效益的产业!吉林油田大力实施千万千瓦级风光发电、 五百万吨级碳埋存、百万吨标煤级清洁能源利用"三大工程"，加快构建融合+、气电+、地热 +等"1+N"绿色产业布局。一年来，新能源生产一线全体干部员工乘胜追击、内外兼顾，进一步跟踪政 策导向、市场趋势和技术动向，努力优化新能源业务发展布局，从而转型加速、利润跃升，交出了老油 田经济效益与生态效益"双提升"的新答卷。2025年度，吉林油田累计发绿电14.7亿千瓦时，其中，自消 纳项目发绿电超5亿千瓦时，实现了自营区超1/3的油气生产绿电运行，累计节约生产成本近1.7亿元； 规模外送累计并网发电9.63亿千瓦时，创效超3000万元。截至目前，全油田电气化率已攀升至36%，较 五年前提升了7.8个百分点。 打好原油稳产保卫战。找有效益的储量、采有效益的产量!吉林油田面对产能不足、成本紧张等被动形 势，始终坚持效益导向，深化业财融合，大力实施SEC储采平衡、老油气田压舱石、页岩油革命、采收 率再提高"四大工程"，积极构建"稳住老油藏、适量新井与措施"开发秩序，坚决实现原油效益稳产目 标。2025年度，松南老区圆满完成了原油产量任 ...

Core Insights - The commercial aerospace industry is experiencing a dual catalyst of policy and technology, attracting significant attention from the capital market [1][2] - The company, Dongfang Risen, is actively engaging with institutional investors to discuss its advancements in photovoltaic technology for aerospace applications and its competitive advantages [1] Industry Overview - The "14th Five-Year Plan" emphasizes the acceleration of building a strong aerospace nation, designating the aerospace industry as a strategic emerging industry for clustered development [2] - The Chinese commercial aerospace market is projected to reach a scale of 2.3 trillion yuan in 2024, with financing expected to exceed 20 billion yuan [2] Company Developments - Dongfang Risen's p-type ultra-thin heterojunction (HJT) products exhibit significant competitive advantages, particularly in radiation resistance and adaptability for flexible solar wings [3] - The company has established a robust technical reserve in high-efficiency photovoltaic cells and is advancing research in tandem solar cell technology, achieving a conversion efficiency of 30.99% [3] Business Strategy - Dongfang Risen has developed a diversified business matrix covering solar cells, components, new materials, photovoltaic power stations, energy storage systems, and smart lighting [4] - The company is capitalizing on the growth opportunities in the energy storage market by promoting integrated solutions and aims to establish energy storage as a second growth curve [4] Growth Opportunities - The company is well-positioned to benefit from the dual industry waves of renewable energy and commercial aerospace, with its core photovoltaic business maintaining a leading global position [4] - The steady commercialization of its p-type ultra-thin heterojunction products and advancements in energy storage are expected to open new growth avenues for the company [4]