Core Insights - The spot platinum price has surpassed $2000 per ounce for the first time since 2008, with a cumulative increase of over 120% in 2025, significantly outpacing gold [1][7]. Group 1: Factors Driving Platinum Price Surge - The surge in platinum prices is attributed to a "triple resonance" of industrial demand expectations, supply-demand gaps, and financial attributes [2][8]. - Industrial demand is the cornerstone of the price increase, driven by the hydrogen energy sector, where platinum is essential for hydrogen production, storage, and utilization [2][8]. - The automotive industry's recovery, particularly in fuel vehicles, has also contributed to stable platinum demand, with increased platinum load in catalysts and a rise in light vehicle production [2][8]. Group 2: Supply-Demand Dynamics - A significant supply-demand gap supports the price increase, with approximately 70% of global platinum production coming from South Africa, where production is constrained by underinvestment, power shortages, aging infrastructure, and extreme weather [2][8]. - The World Platinum Investment Council (WPIC) reports a projected global platinum supply of 45.3 tons in Q1 2025, a 10% year-on-year decline, with an expected annual shortfall of about 20 tons [2][8]. Group 3: Financial Market Influences - Financial attributes have amplified the price increase, with expectations of Federal Reserve interest rate cuts and global liquidity easing driving funds into precious metals [3][9]. - Platinum's long-standing valuation gap compared to gold has attracted significant capital inflows, further supported by the launch of domestic platinum and palladium futures [3][9]. Group 4: Future Outlook and Key Indicators - Key indicators to monitor for platinum price trends include South African monthly production and power supply data, global hydrogen electrolyzer and fuel cell vehicle installations, Federal Reserve interest rate movements, and London platinum leasing rates [4][11]. - The core logic supporting platinum price increases remains unchanged, with persistent supply pressures and strong demand growth expected in the hydrogen sector and traditional automotive catalyst markets [4][11]. Group 5: Impact on Downstream Industries - The sharp rise in platinum prices has led to differentiated impacts on downstream industries, particularly in automotive manufacturing, jewelry, and hydrogen chemical sectors [6][12]. - In the automotive sector, rising platinum costs will increase production costs for fuel vehicles, potentially adding hundreds of dollars per vehicle for companies without hedging measures [6][12]. - Jewelry manufacturers face raw material cost pressures, with larger brands better positioned to manage costs compared to smaller ones, which may lead to market consolidation [6][12]. - In the hydrogen and chemical industries, rising platinum costs will increase marginal production costs, potentially delaying the launch of smaller projects, although major companies may manage these costs effectively due to the irreplaceable nature of platinum catalysts [6][12].

插播： 1月8日，中车株洲所、弘正储能、海辰储能、海尔新能源、融和元储、华储电气、天合光能、万帮数字能源、星纪云能、汇能科技等超30家企业 出席【行家说储能开盛年会】，报名欢迎联系行家说储能辛迪 Cindy：15989092696 （微信同号） 随着全球能源转型加速，海外储能市场需求井喷，中企迎来"全球储能收割季"。 近日，采日能源宣布2025年签订的海外订单规模近3GWh，不仅创下了企业年度出海新纪录，更是 中国储能产业深度参与世界能源格局重构的有力注脚 。 ▋ 近3GWh！海外签单创新高 据了解，2025年采日能源海外3GWh订单涉及保加利亚（750+MWh）、乌克兰（500+MWh）到德国（200+MWh）、西班牙（20+MWh）等多地不同规 格、容量的储能项目。 采日能源近3GWh的海外订单，恰似全球市场投下的一张张"信任票"，有力印证了中国储能解决方案不断提升的国际竞争力。 ▋ 从"产品出海"到"体系输出" 采日能源海外订单的增长与项目集群的成功落地， 离不开其对全球能源生态的深度洞察。 这背后，是持续的技术创新、敏锐的市场判断和精准的技术适配能 力共同支撑的结果。 面对差异化的全球市场，采日能源展 ...

（文章来源：央视新闻） 在太阳核心，氢原子不断碰撞聚变，释放出巨大能量。因此，可控核聚变也被称为"人造太阳"。人造太 阳以海水中提取的"氘"为主要燃料，核聚变能源充足且绿色安全，无温室气体排放与熔毁风险。按计 划，正在安徽合肥建设的可控核聚变装置"BEST"，将于2027年底完成主机系统建造，为全球能源转型 提供中国力量。 ...

长沙晚报掌上长沙12月18日讯（全媒体记者 匡小娟）在哈萨克斯坦曼格斯套州，里海之畔，一座承载着能源革新 的风电场正静静伫立，与潮声共呼吸。近日，三一重能承建的哈萨克斯坦舍甫琴科堡UNEX 43.6兆瓦风电项目顺 利实现全容量并网。这不仅是8.0兆瓦平台风电机组在中亚地区的首次应用，也是中亚首个投运的"以大代小"等容 改造风电项目，标志着中国高端风电装备与绿色能源解决方案在中亚市场取得历史性突破。 舍甫琴科堡UNEX风电场位于哈萨克斯坦曼格斯套州图普卡拉甘区，原安装了24台1.7～2兆瓦的风电机组，已服 役多年，发电效率与稳定性早已大不如前。此次改造升级，三一重能6台8兆瓦风电机组成功"接棒"，刷新中亚地 区风电项目的单机容量纪录。 据介绍，在总装机容量不变的基础上，UNEX风电场通过"以大代小"，机位数量减少67%，叶轮直径增至195米， 轮毂高度110米，直接将"捕风触角"伸向风资源更富集的高空区域，发电效率呈指数级增长。 关键词：三一重能 风电 >>我要举报 D ( "通过此次'以旧换新'，项目年发电量预计增至1.4亿千瓦时，将有效缓解当地用电紧张问题。同时，机组数量从24 台减少至6台，土地利用率翻倍 ...

证券代码：000338.SZ/2338.HK 证券简称：潍柴动力 潍柴动力股份有限公司投资者关系活动记录表 1 | | 球能源装备市场提供"中国方案"。 | | --- | --- | | | 2.公司 SOFC 业务发展规划 | | | 公司在 SOFC 领域持续深耕，通过一系列技术创新与市场布 | | | 局，不断推动这一战略性新兴产业的发展。 | | | 2025 年 11 月，公司与希锂斯在电池电堆层面签订了技术 | | | 许可协议，这意味着公司可全面掌握电池、电堆、系统、电站 | | | 的核心技术。近年来，公司聚焦 AI 数据中心、工业园区等核心 | | | 场景，对标国际竞品推出新一代大功率金属支撑商业化产品， | | | 在发电效率、体积功率密度、可启停次数及启动速度等方面均 | | | 有显著提升，凭借性能优势已与国内外多家头部企业达成意向 | | | 合作，为规模化商用奠定基础。公司将继续致力于技术创新与 | | | 应用拓展，发挥在 SOFC 领域的技术引领作用，为客户提供高可 | | | 靠性产品，助力实现"双碳"目标和全球能源转型。 | | | 3.公司在新能源重卡方向的布局和规划 ...

Core Viewpoint - The establishment of a joint venture, YDK Technology, between China's Yulong Technology and South Korea's DY ENG marks a significant collaboration aimed at enhancing competitiveness in the global new energy market through resource integration [1][2]. Group 1: Signing Ceremony - The signing ceremony was attended by key management from both companies, highlighting the strategic nature of the partnership based on long-term cooperation and mutual trust [2]. - Both parties emphasized that the joint venture represents a win-win choice, combining the strengths of Chinese and Korean enterprises in high-end manufacturing [2]. Group 2: Cooperation Background - The successful foundation of the joint venture is attributed to the complementary strategic positioning and core capabilities of both companies [6]. - Yulong Technology specializes in the manufacturing of new energy materials and offers comprehensive EPCM services, ensuring reliable production capabilities [6]. - DY ENG focuses on the development and manufacturing of equipment for the recycling and reuse of secondary battery materials, serving major Korean battery companies [8]. Group 3: Future Outlook - The newly established YDK joint venture aims to integrate Yulong's high-end equipment manufacturing with DY ENG's battery recycling technology [10]. - The company will prioritize localized services for Korean enterprises and their overseas factories, enhancing customer support and tailored solutions [10]. - YDK plans to optimize the supply chain and engage in joint research and development to create internationally competitive products [10]. Group 4: Industry Observation - The collaboration between Yulong Technology and DY ENG is seen as a significant step in the context of global energy transition and industrial chain restructuring [11]. - This partnership serves as a model for integrating China's advanced manufacturing with Korea's material research, providing a reference for other Chinese companies looking to expand internationally [11].

Core Insights - The ESIE 2026 International Energy Storage Summit and Exhibition will take place from April 1-3, 2026, in Beijing, showcasing the latest developments and opportunities in the global energy storage industry [2] - The exhibition will cover an area of 160,000 square meters, featuring over 1,000 exhibitors and sponsors, and attracting more than 5,000 companies from the energy storage supply chain [2] International Procurement Demand - The event will introduce a unique "pre-show targeted matching - on-site precise matching" model for international business connections, with multiple batches of international procurement demands already released [3] - Focus areas include the energy storage markets in Saudi Arabia and Poland, with significant interest from international buyers [3] Global Strategic Support - ESIE 2026 has received support from over 100 international organizations, with participation from representatives of more than 40 countries, including the USA, UK, Germany, and France [5] - Key international organizations involved include IRENA, IEA, and the World Bank's ESMAP, among others [6] Audience and Participation - The event is expected to attract over 200,000 professional attendees from various regions, including the Americas, Europe, Middle East, Asia, and Africa [9] - Attendees will include decision-makers from energy groups, power companies, renewable energy developers, and financial institutions [9] International Collaboration - The official German pavilion will feature leading companies and technologies, providing a platform for international cooperation and industry dialogue [11] - Over 20 international buying groups will participate, offering market research and collaboration opportunities [11] Forums and Networking - Two international forums will be held to discuss core policy impacts, featuring representatives from key international organizations and emerging market energy authorities [12] - Four international matchmaking sessions will connect global supply and demand, facilitating project introductions and investment opportunities [13] Conclusion - ESIE 2026 aims to be a comprehensive international resource platform, facilitating dialogue, technology exchange, and project implementation in the energy storage sector [17]

锂电池产业链呈现出清晰的上中下游垂直分工，各环节价值量与竞争壁垒各异。首先，上游聚焦资源属 性。主要包括正极所需的锂、钴、镍等金属资源（被誉为"白色石油"），以及负极所需的石墨资源。上 游价格波动往往直接传导至整个产业链，具有较强的周期性特征。其次，中游聚焦制造工艺与四大主 材。这是电池制造的"中央厨房"，核心在于电芯制造与组装。技术壁垒主要体现在正极材料、负极材 料、隔膜、电解液"四大主材"的配方与工艺上。头部企业通过规模效应与领先的技术，构建了较深的护 城河。 下游展望：动力稳健增长，储能接力爆发 根据广发证券财富管理部整理数据，预计2025年锂电池下游应用将呈现"一超多强、储能加速"的格局： 一是动力电池（基本盘）：占比将达61.9%。新能源汽车渗透率的提升仍是当前行业需求的主引擎，但 随着渗透率突破50%临界点，增速将逐步回归稳健，市场关注点转向海外市场拓展及车企价格战下的成 本控制。 一直以来，广发证券主动担起金融机构的主体责任，发挥业务优势，打造丰富的投教载体，贯彻资本市 场人民性立场，树牢金融为民的理念，引领投资者教育工作走在行业前列。随着一系列新政策的出台， 我国资本市场进入新发展阶段，广发证 ...

开关电源又称交换式电源、开关变换器，是一种高频化电能转换装置，是电源供应器的一种。其功能是将一个位准的电压，透过不同形式的架构转换为用户 端所需求的电压或电流。开关电源的输入多半是交流电源（例如市电）或是直流电源，而输出多半是需要直流电源的设备，例如个人电脑，而开关电源就进 行两者之间电压及电流的转换。开关电源按输入电源类型可分为AC-DC开关电源、DC-DC开关电源；按输出特性可分为恒压输出开关电源、恒流输出开关 电源、恒压恒流可调开关电源；按调制方式可分为脉宽调制开关电源、频率调制开关电源和混合调制开关电源。开关电源作为电源供应器的重要组成部分， 广泛应用于各类电子设备中。其主要功能是将电源电压转换为设备所需的稳定电压，具有小型化、重量轻、转化效率高等优点。随着科技的不断进步，开关 电源的应用领域也在不断扩展，涵盖了工业、消费电子、医疗、汽车电子等多个行业。近年来，5G网络建设、物联网普及和数据中心扩容催生了对高性能 电源的旺盛需求，特别是在服务器、边缘设备和智能终端领域，开关电源凭借其高功率密度和高转换效率成为关键支撑。与此同时，全球能源转型加速推 进，光伏、风电等新能源产业快速发展，带动光伏逆变器及相 ...

今日（12月15日）市场盘整，A股三大指数悉数飘绿，揽尽有色金属行业龙头的有色龙头ETF（159876） 逆市活跃，彰显韧性，场内价格现涨0.22%，值得关注的是，该ETF此前连续5日获资金净流入，合计金 额1.56亿元，反映资金看好有色金属板块后市表现，积极进场布局！ 1、宏观层面来看，全球货币体系深层变化，即美元信用受损触发的"去美元化"趋势，进一步强化了有色 金属的金融属性，使其商品与货币属性形成共振。 2、供需格局来看，供给侧，以铜为代表的工业金属受长期资本开支不足和产能周期制约，供给增长受 限；需求侧则受益于新能源、人工智能等新兴产业及全球能源转型带来的强劲需求。旺盛的需求与行 业"反内卷"持续推进，可能使部分有色金属的供需紧平衡格局延续，推升有色金属价格中枢。 3、细分方向来看，不同细分板块的驱动因素存在显著差异：工业金属主要受经济周期景气度变化的支 配；贵金属则更多聚焦于全球货币环境、避险情绪及重大风险事件的影响，凸显其"货币锚"属性；而小 金属的行情波动往往与相关产业的技术创新、细分领域产业政策的调整等结构性因素密切相关。 业内人士指出，本轮美联储的货币政策，表现出相比以往经济周期更为谨慎和缓 ...