德龙激光正通过前瞻性的技术布局和产能扩张，押注固态电池、光通讯等未来赛道，以打破财报上 的"增收不增利"局面。近日，德龙激光对外披露了公司最新的业务进展和订单情况。 在固态电池领域，公司推出了极片制痕绝缘方案并已获得小批量订单，同时正在验证激光加热、超快激 光制片等新工艺。公司在江阴高新技术产业开发区投资建设的新能源高端装备制造项目（一期）现已完 成主体建筑建设，计划于2026年上半年投入生产，投产后将进一步提升公司的订单交付能力。 早在2024年年度报告中，德龙激光就明确表示公司将重点关注固态电池技术。2025年上半年，德龙激光 对外透露，针对全固态电池制造工艺的四大挑战——固固界面问题、硅基负极低燃点易燃烧、硫化物电 解质高韧性和低水氧密闭环境，推出了全新的解决方案，包括超快激光蚀刻刻槽、UV打印一体化解决 方案、超快激光切割硅碳负极、硫化物正极激光裁切及激光干燥、制片、绝缘制痕和叠片一体化集成方 案。 在光通讯领域，公司针对光通讯模块开发了硅光芯片激光键合设备，本发明专利采用了激光作为热源， 替代了传统回流焊工艺，可以解决芯片键合时温差导致热量不均匀从而使冶金键合形态发生变异的问 题。公司有光模块生产设 ...

Group 1 - The company is a global leader in lithium hexafluorophosphate and electrolyte production, established in 2000 and listed on the Shenzhen Stock Exchange in 2014, with plans to apply for a Hong Kong listing in September 2025 [1][17] - The company has focused on lithium-ion battery materials for over a decade, achieving the highest global shipment volume of electrolytes in 2016 [1][19] - The company has a simple shareholding structure, with the actual controller holding 36.5% of the shares as of Q3 2025, and operates 41 wholly-owned subsidiaries [6][21] Group 2 - In 2024, the company is expected to ship 503,000 tons of electrolytes globally, capturing a market share of 35.7%, maintaining its position as the global leader for nine consecutive years [4][19] - The revenue from lithium battery materials accounts for approximately 90% of the company's total revenue, with a stable growth in daily chemical materials [5][20] - The company has established 16 production bases domestically and is expanding globally, with plans for new production bases in Morocco and the United States [7][22] Group 3 - The price of lithium hexafluorophosphate has surged by approximately 248% since mid-July, driven by supply and demand dynamics [10][25] - The supply of lithium hexafluorophosphate is concentrated, with the top three companies holding 76.9% of the market share, and the industry is experiencing a tight balance in supply [11][26] - Demand for energy storage batteries is rapidly increasing, with a projected shipment of 580 GWh in 2025, reflecting a growth rate exceeding 75% [14][28] Group 4 - The company has seen a significant increase in lithium battery electrolyte sales, with volumes expected to exceed 500,000 tons in 2024, despite a decline in prices [16][30] - The company is positioned to benefit from the reversal of the lithium hexafluorophosphate cycle, which is anticipated to improve profitability as prices stabilize [16][30] - The company is also focusing on solid-state battery materials, with sulfide electrolytes currently in the pilot testing phase, indicating a move towards commercialization [17][30]

格隆汇12月25日丨金龙羽(002882.SZ)公布，为满足在惠州新材料产业园内投资建设的固态电池关键材 料量产线项目（简称"惠东材料项目"）的建设资金需求，顺利推进建设工作，金龙羽集团股份有限公司 孙公司金龙羽新能源（惠东）有限公司拟向银行申请项目贷款。根据银行对建设项目资本金的要求，孙 公司拟增加注册资本10,000万元人民币，新增注册资本由公司控股子公司金龙羽新能源（深圳）有限公 司（简称"深圳新能源"）以10,000万元全额认缴，均计入注册资本。本次增资完成后，孙公司的注册资 本将由20,000万元变更为30,000万元。 ...

Core Viewpoint - The company is facing significant challenges in its electrolyte business, with a notable decline in market share and performance compared to peers, prompting inquiries about strategies to reverse this trend and enhance competitiveness [1]. Group 1: Business Performance and Strategy - The company's electrolyte business has seen a decline in market share, dropping from the top three in the industry to eighth place, with performance lagging behind competitors [1]. - The company is actively working on ramping up production and customer certification for its new projects in Zigong and Quzhou [1]. - The company is committed to ongoing research and development in lithium-ion battery electrolytes and new battery materials, with some new lithium salt products already achieving bulk sales in solid-state lithium-ion batteries [1]. Group 2: Competitive Measures and Market Adaptation - Future plans include expanding product varieties, optimizing technical services, and enhancing global business outreach while strengthening collaborations with domestic and international clients and suppliers [1]. - The company aims to deepen strategic partnerships with key raw material suppliers to improve supply chain stability and competitiveness [1]. - Efforts will be made to refine procurement processes, develop new qualified suppliers, and conduct market price research to optimize purchasing costs [1].

Report Title - Nanhua Futures' Outlook for Nickel & Stainless Steel in 2026: Adapting to the Supply-Demand Structural Adjustment Cycle [1] Report Industry Investment Rating - Not provided Core Views - In 2025, the nickel market first rose and then declined. The price was mainly influenced by demand fluctuations and sentiment changes, lacking fundamental factors for a trend reversal. The annual price performance was weaker than previous years [2][3]. - In 2026, the focus of the nickel market remains on the progress of supply-demand structural adjustments. The demand for stainless steel is expected to remain stable, while the demand for nickel in the new energy sector is likely to be moderate. The Indonesian government's policies will continue to affect the market, and the supply surplus situation may improve marginally [4][5][6]. - The report predicts that in 2026, the main contract range for nickel will be between 118,000 - 130,000 yuan, and for stainless steel, it will be between 12,100 - 13,000 yuan [6]. Summary by Directory 2025 Annual Market Review - **First Quarter**: The nickel price showed a volatile and upward - trending pattern, with the price center rising to the range of 125,000 - 136,000 yuan/ton. The main influencing factors were Indonesian policy adjustments and the contradiction between short - term cost support and long - term oversupply [9]. - **Second Quarter**: The nickel - stainless steel market showed a volatile and downward - trending pattern. Factors such as the US tariff policy, rising LME nickel inventories, and weak terminal demand led to the decline of nickel and stainless steel prices [11]. - **Third Quarter**: The market showed a range - bound and slightly upward - trending pattern, mainly driven by news and policy expectations. However, high inventories and weak demand restricted the upward space of prices [12]. - **Fourth Quarter**: The market was mainly affected by Indonesian policy disturbances and macro - expectations. Although there were short - term price rebounds, the overall supply surplus situation remained unchanged, and the price fluctuations were mainly due to market sentiment and capital speculation [13]. Industrial Chain Performance Nickel Ore - In 2025, the supply of the nickel ore market was affected by policies and seasons. The supply was tight in the first half of the year and then eased. The demand was mainly suppressed by downstream smelting profits, showing cost - sensitivity characteristics [16][19]. - In 2026, the nickel ore market will be in a cycle of strong policy supervision and rational return of production capacity. The Indonesian government's policies will lead to a certain degree of supply contraction, and the price is expected to remain stable with a slight upward trend [22][23]. Ferronickel - In 2025, the supply of the ferronickel market showed regional differentiation and structural substitution characteristics. The supply was tight in the first half of the year and then increased. The demand was mainly suppressed by the weak profits of downstream stainless steel [25][29]. - In 2026, the ferronickel market will also enter a cycle of policy supervision and rational return of production capacity. The growth rate of effective production capacity is expected to slow down, and the price center will likely be affected by the demand of downstream steel mills [30][31]. Nickel Sulfate and Intermediates - In 2025, the supply of global nickel intermediates was mainly from Indonesia. The production of MHP increased significantly, while the production of nickel sulfate decreased. The demand was affected by the differentiation of technical routes, and the pricing system was adjusted [33][35]. - In 2026, the supply of nickel sulfate intermediates will show a structural increase, while the demand in the Chinese battery sector will slow down. The market may enter a cycle of processing fee control and raw material coefficient game [37][38]. Stainless Steel - In 2025, the supply of stainless steel showed a pattern of marginal slowdown in total growth, internal structural differentiation, and intensified extrusion from overseas capacity. The demand was affected by the weakening of traditional growth engines and the challenges of the external market [42][46][47]. - In 2026, the stainless steel market may enter a cycle of supply - demand re - balance. The supply side will see further elimination of high - cost production capacity, and the demand side may have a marginal improvement, especially in high - end special stainless steel [50][52]. 2026 Annual Balance Deduction - In 2026, the core trading logic of the nickel market will shift to the joint action of supply - demand structural optimization and integrated cost rigid support. The supply surplus situation will be alleviated but not reversed [54]. - The demand for nickel in the stainless steel industry will be the core anchor point. The new energy vehicle battery sector will face pressure from the penetration of lithium iron phosphate, and the nickel market surplus will continue in 2026 [54][55].

金龙羽12月25日晚间公告，为满足在惠州新材料产业园内投资建设的固态电池关键材料量产线项目的建 设资金需求，顺利推进建设工作，公司孙公司金龙羽新能源（惠东）有限公司拟向银行申请项目贷款。 根据银行对建设项目资本金的要求，孙公司拟增加注册资本1亿元人民币，新增注册资本由公司控股子 公司金龙羽新能源（深圳）有限公司以1亿元全额认缴，均计入注册资本。本次增资完成后，孙公司的 注册资本将由2亿元变更为3亿元。 ...

合作双方将共同致力于开发满足未来固态电池性能需求的新型正极材料前驱体。乙方将依托其在三元材 料前驱体方面的深厚积累，与甲方深度合作，目标是开发出具有高能量密度、高安全性和长循环寿命的 正极材料前驱体，以满足固态电池在新能源汽车、储能系统等领域的应用需求。甲方将依托其在锂离子 电池、固态电池方面的深厚研发和制造技术积累，基于乙方提供的新型正极材料前驱体，开发高能量密 度、高安全的固态电池正极材料及固态电池，以满足固态电池在新能源汽车、储能系统等领域的商业化 应用需求。 格隆汇12月25日丨中伟股份(300919.SZ)公布，公司与欣旺达动力科技股份有限公司（简称"欣旺达"）于 2025年12月25日签署《固态电池战略合作框架协议》。双方都拥有良好的品牌形象，双方在战略合作方 面具有较强的互补性和兼容性且保持着良好的合作关系，本着平等互利的原则签订本协议，旨在建立深 层次的战略合作关系共同开发固态电池应用系列的新能源电池材料，推动固态电池应用系列新能源电池 材料的产业化实施。 本次合作通过联合开发新型正极材料前驱体，直接应对固态电池在能量密度、安全性和循环寿命方面的 核心技术挑战。与产业链的深度绑定，使材料研发能 ...

Core Viewpoint - The company positions itself as a provider of lithium battery production process equipment, actively developing and upgrading its offerings in line with industry trends and customer needs [1] Group 1: Company Strategy - The company is focused on the lithium battery equipment sector, specifically targeting the front-end processes required for lithium battery production [1] - It has made proactive investments in the development of core production line equipment for solid-state batteries, dry electrode core devices, and sulfide solid electrolyte production lines [1] Group 2: Customer Collaboration - The company is collaborating with certain clients on research and has supplied relevant equipment for testing and production on their production lines [1]

重要资讯 1、中共中央政治局召开会议，研究部署党风廉政建设和反腐败工作。 2、国家税务总局表 示，将持续落实落细支持科技创新的税费优惠政策。 3、市场监管总局发布4项资产管理国家标准，聚 焦资产管理数字化转型、文化数字资产等内容。 4、我国首部气候资源经济蓝皮书发布，指出气候资源 经济转化对保障粮食安全、促进产业升级等具有深远意义。 5、上海印发《关于支持 长三角G60科创走 廊策源地建设的若干措施》，推动科技创新和产业创新深度融合。 公司资讯 1、上海微电子中标一台步 进扫描式 光刻机，金额约1.1亿元。 2、 比亚迪车辆避撞专利公布，可提高避撞成功率。 3、 视源股份 向香港联交所更新递交了本次发行并上市的申请。 4、 纽泰格与卫蓝 新能源签署战略合作协议，推动 固态电池在 机器人行业规模化应用。 5、 天安新材成立资本管理公司，含AI及机器人业务。 6、 江山 欧派投资成立机器人科技公司。 7、 以岭药业在黑龙江成立 中药材公司。 备注：本文由AI根据市场公 开信息及公司公告等资料整理生成，不构成投资建议。 ...

在全球能源转型的浪潮中，中国储能产业正处在转型升级的关键节点。当前，海外订单呈现爆发式增 长，中国企业凭借全产业链优势抢占全球市场。与此同时，被视为下一代电池技术的固态电池也从实验 室加速迈向产业化前端。中国锂电产业的主导地位能否延续？未来增长的动力何在？ 近日，海博思创创始人、董事长、首席执行官张剑辉受邀做客央视《对话》节目，与多位储能产业领军 人物及行业专家一起，探讨中国锂电的进化路径，共话行业未来发展新图景。 转折出现在2025年136号文的出台，政策推动储能市场实现从价格导向到价值导向的根本性变革。张剑 辉表示，今年6月起，更多独立储能电站进入市场化投资行列，市场主体从原来的配储订单主导，向以 盈利为目标的储能电站运营模式转变。"投资者不再单纯关注前端设备价格，而是更看重储能电站的核 心品质——效率、寿命与可靠性，企业需要依靠储能设备实现持续盈利，商业模式发生了深刻转变。" 拓展全球蓝海，加速储能价值链闭环 近几年，储能行业的海外需求爆发。张剑辉提到，"走出去"已成为中国锂电及储能行业的集体共识，海 外市场正成为承载行业增长的重要蓝海。中国储能市场装机规模约占全球40%，但中国企业生产的储能 电池及储 ...