Group 1 - The core viewpoint of the article highlights the steady increase in lithium battery production in the new energy vehicle industry during August, driven by a recovery in production plans from downstream cathode material and cell companies, leading to a significant rise in lithium carbonate prices due to improved supply and demand dynamics [1] - The hydrogen energy industry is accelerating its development, with national support for technology research and development, focusing on hydrogen production, storage, transportation, and application [1] - The domestic bidding data in the energy storage sector remains highly prosperous, with European large-scale storage tenders exceeding expectations and a continuous recovery in household storage demand, significantly increasing the proportion of independent storage [1] Group 2 - In the wind power sector, multiple coastal regions are advancing ultra-GW-level offshore wind projects, with a noticeable acceleration in development pace [1] - The New Energy Vehicle ETF (159806) tracks the CS New Energy Vehicle Index (399976), which selects listed companies involved in the upstream materials, midstream components, and downstream complete vehicles of the new energy vehicle industry to comprehensively reflect the overall performance of related listed companies in China [1] - Investors without stock accounts can consider the Guotai Zhongzheng New Energy Vehicle ETF Connect C (009068) and Guotai Zhongzheng New Energy Vehicle ETF Connect A (009067) [1]

Group 1 - Multiple regions in China have recently suspended the acceptance of automobile replacement subsidy applications, while scrapping and updating subsidies continue to be processed [1] - The personal consumption loan interest subsidy policy, which will soon be launched, includes the automotive consumption sector [1] - In July 2025, China's new energy vehicle (NEV) production and sales reached 1.243 million and 1.262 million units, respectively, representing year-on-year growth of 26.3% and 27.4% [1] - From January to July 2025, NEV production and sales totaled 8.232 million and 8.22 million units, with year-on-year growth of 39.2% and 38.5% [1] - The penetration rate of NEVs continues to rise, with July's new NEV sales accounting for 48.7% of total new vehicle sales, a significant increase from the previous year [1] - NEV exports showed strong growth, with July exports reaching 225,000 units, a year-on-year increase of 120%, and cumulative exports from January to July totaling 1.308 million units, up 84.6% year-on-year [1] - The NEV market is expected to maintain high prosperity due to the ongoing effects of the trade-in policy and the launch of new models [1] Group 2 - As of August 15, 2025, the CSI New Energy Vehicle Industry Index (930997) rose by 2.05%, with constituent stocks such as Defu Technology (301511) up 9.46% and Keda Li (002850) up 6.33% [2] - The New Energy Vehicle ETF (515700) increased by 2.12%, with a latest price of 1.83 yuan [2] - The New Energy Vehicle ETF saw a turnover of 2.48% during the trading session, with a transaction volume of 56.7886 million yuan [2] - Over the past year, the New Energy Vehicle ETF has achieved an average daily transaction volume of 66.1291 million yuan [2] - The New Energy Vehicle ETF's scale increased by 10.1297 million yuan in the past week, ranking in the top half among comparable funds [2] - Leveraged funds continue to invest, with the latest financing purchase amounting to 2.8749 million yuan and a financing balance of 45.518 million yuan [2] - The New Energy Vehicle ETF's net value increased by 50.01% over the past year [4] - The ETF has recorded a maximum monthly return of 31.51% since its inception, with the longest consecutive monthly gains being five months and a total increase of 74.13% [4] Group 3 - As of July 31, 2025, the top ten weighted stocks in the CSI New Energy Vehicle Industry Index accounted for 55.33% of the index [5] - The top weighted stocks include CATL (300750), Huichuan Technology (300124), BYD (002594), and others [5][6]

中国汽车动力电池产业创新联盟11日发布的7月动力电池月度信息显示，产量方面，7月，我国动力和其 他电池合计产量为133.8GWh，环比增长3.6%，同比增长44.3%。销量方面，7月，我国动力和其他电池 销量为127.2GWh，环比下降3.2%，同比增长47.8%。电池销量同比增速仍维持在高位。 新能车ETF紧密跟踪中证新能源汽车产业指数，中证新能源汽车产业指数选取50只业务涉及新能源整 车、电机电控、锂电设备、电芯电池、电池材料等新能源汽车产业的上市公司证券作为指数样本，反映 新能源汽车产业龙头上市公司证券的整体表现。 数据显示，截至2025年7月31日，中证新能源汽车产业指数(930997)前十大权重股分别为宁德时代 (300750)、汇川技术(300124)、比亚迪(002594)、长安汽车(000625)、华友钴业(603799)、三花智控 (002050)、亿纬锂能(300014)、赣锋锂业(002460)、天齐锂业(002466)、格林美(002340)，前十大权重股 合计占比55.33%。 新能车ETF(515700)，场外联接(平安中证新能车ETF联接A：012698；平安中证新能车ETF联接 ...

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report - This week, nickel prices showed a strong trend. At the beginning of the week, downstream procurement was decent, but as prices rose, trading volume became lighter. There was an arrival of Norwegian nickel slabs during the week, increasing supply. In the industrial chain, ore prices remained stable, and ferronickel prices rose slightly, with the cost line stabilizing and rebounding slightly. Stainless - steel inventory decreased slightly. New - energy vehicle production and sales data were good, but the proportion of ternary battery installations declined. The long - term oversupply situation remains unchanged [8]. - The main contract of Shanghai nickel will fluctuate around the 20 - day moving average, while the main contract of stainless steel will run with a slightly upward trend [9][10]. 3. Summary According to the Directory 3.1 Viewpoints and Strategies - **Nickel Outlook**: Nickel prices were strong this week. Downstream trading turned light as prices rose. Supply increased with the arrival of Norwegian nickel slabs. The long - term oversupply pattern persists. The main contract of Shanghai nickel will fluctuate around the 20 - day moving average [8][9]. - **Stainless - steel Outlook**: The main contract of stainless steel will run with a slightly upward trend [10]. 3.2 Fundamental Analysis - **Industrial Chain Weekly Price Changes**: Nickel ore prices remained stable, with red - soil nickel ore (CIF) NI1.5%, Fe30 - 35% at $56 and NI1.4%, Fe30 - 35% at $50, showing no change. Sulfuric acid nickel prices rose slightly, with battery - grade up 1.89% and electroplating - grade unchanged. Ferronickel prices were stable to rising, with low - grade ferronickel in Shandong unchanged at 3200 yuan/ton and high - grade up 0.54% to 925 yuan/nickel point. Electrolytic nickel prices increased by about 0.96% - 0.98%. Stainless - steel prices rose 0.82%, with 304 stainless steel at 13787.5 yuan/ton [13][14]. - **Nickel Ore Market**: Nickel ore prices were flat compared to last week, and freight rates decreased by $0.5/wet ton. On August 7, 2025, the total nickel ore inventory at 14 ports in China was 10.3334 million wet tons, up 3.92%. In June 2025, nickel ore imports were 4.3466 million tons, up 10.68% month - on - month and down 9.21% year - on - year. Currently, the market is mostly in a wait - and - see mode, and with inventory piling up, nickel ore may face continued pressure [17]. - **Electrolytic Nickel Market**: Nickel prices fluctuated upward, and downstream trading became lighter. In July 2025, China's refined nickel production was 36,151 tons, up 4.74% month - on - month and 24.57% year - on - year. In June 2025, China's refined nickel imports were 17,010.151 tons, down 3.00% month - on - month and up 132.29% year - on - year. LME and SHFE inventories increased [22][30][33]. - **Ferronickel Market**: Ferronickel prices were stable to rising. In July 2025, China's ferronickel production was 22,900 tons of metal, down 1.69% month - on - month and 10.63% year - on - year. In June 2025, China's ferronickel imports were 1.041 million tons, up 22.8% month - on - month and 50.0% year - on - year [44][47][50]. - **Stainless - steel Market**: Stainless - steel prices rose, with 304 stainless steel up 0.82%. In June, stainless - steel crude steel production was 3.2916 million tons, with 300 - series production down 2.28% month - on - month. On August 8, the national stainless - steel inventory was 1.1063 million tons, down 0.49 million tons [57][62][69]. - **New - energy Vehicle Production and Sales**: In June 2025, new - energy vehicle production and sales were 1.268 million and 1.329 million vehicles respectively, up 26.4% and 26.7% year - on - year. In June, the total output of power and other batteries was 129.2 GWh, up 4.6% month - on - month and 51.4% year - on - year [74][79]. 3.3 Technical Analysis - From the daily K - line chart, prices will fluctuate around the 20 - day moving average, with little change in positions. The MACD green bar is shrinking, and the KDJ shows an upward trend. The support and resistance levels of the Fibonacci retracement are effective, and prices will move in a narrow range [82]. 3.4 Industrial Chain Summary - **Nickel Ore**: Neutral to bearish. The ore market is quiet, and most players are in a wait - and - see mode [85]. - **Ferronickel**: Neutral to bearish. Ferronickel prices are rising slightly, and the cost line is rising slightly [85]. - **Refined Nickel**: Neutral. The long - term oversupply pattern remains, and social inventory has increased [85]. - **Stainless - steel**: Neutral. Costs have risen slightly, and inventory has decreased [85]. - **New - energy**: Neutral. Production data are good, but the proportion of ternary battery installations has decreased [85].

数据显示，截至2025年7月31日，中证新能源汽车产业指数(930997)前十大权重股分别为宁德时代 (300750)、汇川技术(300124)、比亚迪(002594)、长安汽车(000625)、华友钴业(603799)、三花智控 (002050)、亿纬锂能(300014)、赣锋锂业(002460)、天齐锂业(002466)、格林美(002340)，前十大权重股 合计占比55.33%。 新能车ETF(515700)，场外联接(平安中证新能车ETF联接A：012698；平安中证新能车ETF联接C： 012699；平安中证新能车ETF联接E：024504)。 财通证券指出，此次江西多个锂矿或因矿证审批流程也面临停产可能，或导致每月7000吨—8000吨碳酸 锂当量受到影响。瓷土矿转锂土矿对应税率也将大幅提高成本，叠加9—11月传统旺季供需更紧，多重 因素推高碳酸锂价格。天风证券认为，此次宁德锂矿争议落地，对江西地区后续类似问题有代表性意 义，碳酸锂供给收缩预期加剧，或迎来价值重估。 受此催化，11日碳酸锂期货价格开盘涨停，新能车ETF成分股中电池和能源金属权重占比近60%，受此 催化新能车ETF开盘大涨超1.5% ...

受供给端干扰，碳酸锂期货价格连续大涨，8日盘中涨幅超5%。股票市场电池相关个股表现活跃。 数据显示，截至2025年7月31日，中证新能源汽车产业指数(930997)前十大权重股分别为宁德时代 (300750)、汇川技术(300124)、比亚迪(002594)、长安汽车(000625)、华友钴业(603799)、三花智控 (002050)、亿纬锂能(300014)、赣锋锂业(002460)、天齐锂业(002466)、格林美(002340)，前十大权重股 合计占比55.33%。 新能车ETF成分股权重近半为电池个股，受此催化翻红拉升。 新能车ETF(515700)，场外联接(平安中证新能车ETF联接A：012698；平安中证新能车ETF联接C： 012699；平安中证新能车ETF联接E：024504)。 截至2025年8月8日 13:15，中证新能源汽车产业指数(930997)上涨0.27%，成分股中矿资源(002738)上涨 5.99%，盛新锂能(002240)上涨4.02%，天齐锂业(002466)上涨3.64%，华友钴业(603799)上涨2.97%，雅 化集团(002497)上涨2.94%。新能车ETF( ...

Core Viewpoint - The article discusses the automotive strengths of the thirteen cities in Jiangsu Province, referred to as "Thirteen Taibao," highlighting their GDP rankings and automotive production capabilities, particularly in the electric vehicle sector. Group 1: GDP Rankings - The GDP rankings for the thirteen cities in Jiangsu for 2024 show Suzhou leading with 26,727 billion, followed by Nanjing (18,501 billion), Wuxi (16,263 billion), and others [5] - The second tier includes cities like Xuzhou (9,537 billion) and Yangzhou (7,810 billion), while the third tier consists of cities like Zhenjiang (5,540 billion) and Huai'an (5,413 billion) [5] Group 2: Automotive Production - In 2023, Jiangsu Province produced 1,989,000 vehicles, with 1,047,000 being new energy vehicles (NEVs) [8] - The top five cities for NEV production were Changzhou (678,000), Nanjing (204,000), Taizhou (93,000), Zhenjiang (30,000), and Xuzhou (17,000), accounting for 97.6% of the province's total NEV output [8] Group 3: Automotive Industry Strengths - Jiangsu's automotive parts industry generated sales of 1.16 trillion in 2023, with Suzhou, Changzhou, Wuxi, Nanjing, and Yangzhou leading in sales, collectively accounting for 80.3% of the province's total [8] - The article notes that while Jiangsu is a major automotive manufacturing province, it primarily hosts production for brands from other provinces, lacking significant local brands [26] Group 4: City-Specific Highlights - Changzhou is recognized as a leader in NEVs, with a production capacity nearing 800,000 vehicles in 2024 and nearly 4,000 related enterprises [49] - Nanjing has over 500 automotive-related companies but has struggled to retain new automotive startups, with several going bankrupt [30] - Wuxi is home to several automotive companies, including SAIC Maxus and Huachen New Energy, and has a strong automotive parts industry [40] - Xuzhou is known for its heavy-duty trucks, particularly from Xugong Group, which ranks seventh in the Chinese heavy truck market [45] - Suzhou has a robust automotive parts sector, with a significant number of related enterprises and a focus on electric vehicle components [61] - Other cities like Yangzhou, Taizhou, and Zhenjiang also contribute to the automotive landscape with various manufacturing capabilities and partnerships [79][96][84]

7月31日，记者从省汽车工业协会获悉：中国汽车流通协会乘用车市场信息联席分会统计数据显 示，上半年，陕西汽车出口量达20万辆，其中新能源汽车出口量18万辆，出口量同比增长105%。新能 源汽车出口量在全国排名第三位，比去年同期上升了3个位次。 上半年，陕西汽车产量94.28万辆，其中新能源汽车产量65.85万辆，同比增长30.23%。陕汽集团上 半年新能源汽车产量1.26万辆，同比增长112.44%；西安比亚迪目前生产的汽车全部为新能源汽车，上 半年汽车产量60.81万辆，同比增长33.93%；西安吉利上半年汽车产量为16.46万辆，同比增长29.85%。 西安市汽车产业链供应链联盟秘书长罗建安认为，下半年，"以旧换新"政策持续发力与海外市场回 暖将成为陕西新能源汽车产业的核心增长动力，新能源重卡在技术迭代与成本优化驱动下，全年产销量 有望进一步提升。综合来看，我省全年新能源重卡和新能源乘用车的产量将稳步提升。（记者 沈谦） ...

Core Insights - Chengdu's GDP growth rate for the first half of 2023 is 5.8%, outperforming the provincial average and maintaining its position among the top cities in China [6][7] - The city has achieved a retail sales total of 1 trillion yuan, making it the sixth city in China to reach this milestone, with a year-on-year growth rate of 6.1% in retail sales [6][7] - Chengdu's industrial output is also showing positive trends, with a 7.8% year-on-year increase in industrial added value, leading among major cities [6][7] Economic Performance - Chengdu's GDP for the first half of 2023 is 5.8%, which is higher than the national average of 5.3% [6] - The city has maintained a stable growth trajectory, consistently ranking in the top three for GDP growth among major cities [6][7] - The total GDP of Chengdu is significantly higher than that of the second-largest city in the province, Mianyang, by nearly 1 trillion yuan [6] Consumer Market - Chengdu's social retail sales reached 1 trillion yuan, ranking fifth among China's major cities [6][7] - The year-on-year growth rate for retail sales in the first half of 2023 is 6.1%, making it the highest among the seven trillion-yuan cities [6][7] - Factors contributing to this growth include local consumption trends and innovative retail experiences [6][7] Industrial Development - The city's industrial added value increased by 7.8% year-on-year, ranking first among the top ten cities in China [6][7] - Chengdu's industrial investment has seen a rapid growth rate of 41.3% in the first half of 2023 [6][7] - The electronics and information industry is a key driver, with significant growth in smart devices and new energy vehicles [6][7] Future Investments - Chengdu has launched a future industry fund exceeding 100 billion yuan, focusing on high-tech sectors such as humanoid robots and flying cars [6][7] - The city is also investing in the development of eight new urban areas to support future population and industrial growth [6][7] - This strategic investment reflects Chengdu's commitment to sustainable and high-quality development [6][7]

新能车ETF紧密跟踪中证新能源汽车产业指数，中证新能源汽车产业指数选取50只业务涉及新能源整 车、电机电控、锂电设备、电芯电池、电池材料等新能源汽车产业的上市公司证券作为指数样本，反映 新能源汽车产业龙头上市公司证券的整体表现。 数据显示，截至2025年6月30日，中证新能源汽车产业指数(930997)前十大权重股分别为宁德时代 (300750)、汇川技术(300124)、比亚迪(002594)、长安汽车(000625)、三花智控(002050)、亿纬锂能 (300014)、华友钴业(603799)、赣锋锂业(002460)、国轩高科(002074)、天齐锂业(002466)，前十大权重 股合计占比55.74%。 新能车ETF(515700)，场外联接(平安中证新能车ETF联接A：012698；平安中证新能车ETF联接C： 012699；平安中证新能车ETF联接E：024504)。 工信部：将巩固新能源汽车行业"内卷式"竞争综合整治成效，加强光伏等重点行业治理。全国工业和信 息化主管部门负责同志座谈会7月28日在京召开。其中提到，将进一步全面深化改革，提升行业治理现 代化水平。加快推进改革任务落实，抓好"十五 ...