Group 1 - A total of 7 A-share companies have announced stock suspension for review since the beginning of the year, including Liou Co., Ltd. and others, primarily due to market speculation and major shareholder changes [1][3] - The stocks involved are linked to hot concepts such as commercial aerospace and AI applications, indicating a trend of speculative trading in the market [1][4] - The suspension of trading is seen as a regulatory measure to guide rational investment and curb excessive speculation [8] Group 2 - ST Chengchang, a commercial aerospace concept stock, experienced a 68.64% increase over a period of 10 trading days before announcing a suspension for review [3] - Liou Co., Ltd. reported a stock price deviation of 96.77% from December 31, 2025, to January 15, 2026, leading to its suspension [4] - Zhi Te New Materials became the first stock to double in value this year, with a price increase of 198.57% before its suspension [4] Group 3 - Guosheng Technology and Jiamei Packaging have seen significant stock price increases without corresponding performance support, with Guosheng reporting continuous losses since 2020 [6][7] - Jiamei Packaging's net profit is expected to decline by 53.38% to 43.02% in 2025, attributed to a "small year" in the beverage industry [7] - The suspension of trading allows investors to reassess the valuation of these companies against their fundamental performance [8] Group 4 - Companies like Shangwei New Materials and Aerospace Hanyu have issued warnings about potential stock suspensions if prices continue to rise, indicating a broader concern about market volatility [9][10] - Aerospace Engineering clarified that it has no involvement in the commercial aerospace sector despite significant stock price increases, highlighting the disconnect between stock performance and actual business operations [11] - The overall trend of stock suspensions is viewed as a necessary measure to foster a culture of rational investment and prevent speculative bubbles in the market [11]

每经记者｜鄢银婵 每经编辑｜廖丹 进入2026年，碳酸锂市场的走势跌宕起伏。 1月5日开始，广州期货交易所碳酸锂期货主力合约LC2605开启强势上涨，从12.28万元/吨起步，短短数个交易日内一路攀升，至1月13日盘中最高触及17.41 万元/吨，创下近两年来的价格新高。 1月16日，碳酸锂期货主力合约LC2605报收14.62万元/吨，单日跌幅达8.99%，触及跌停。而在此之前的1月5日至1月13日，碳酸锂期货主力合约LC2605从 12.28万元/吨一路涨至最高17.41万元/吨，创下近两年新高。短短3个交易日后，其价格自高点回落幅度就超过了16%。 事实上，时间拉回半年前，碳酸锂期货主力合约LC2605的价格还曾创下上一轮锂价见顶回落后的最低值——5.9万元/吨。 急涨急跌的行情下，近期多家锂电企业选择扩产。高工产业研究院（GGII）统计显示，2025年锂电产业链公开投资项目超282个，总投资额超8200亿元，同 比增幅超74%。市场急剧增长的产能，是否会对未来锂价走势形成冲击？锂价走势又是否会直接左右企业端的投产计划？ 近日，《每日经济新闻》记者走访了位于四川绵竹的德阿锂电新材料产业园，该园区汇集了规 ...

证券研究报告|行业研究周报 [Table_Date] 2026 年 1 月 18 日 [Table_Title] 全球电网设备共振迎超级周期，英国 AR7 海风落 地规模超预期 [Table_Title2] 电力设备与新能源行业周观察 [Table_Summary] 报告摘要 随着 T 链定点&Optimus V3 新品发布时间临近，人形机器人后续 催化持续，量产推进有望加速。在降本需求的驱动下，人形机 器人核心零部件的国产替代需求凸显，持续看好后续在精密传 动件、电子皮肤等核心环节具备卡位优势的国内供应商。我们 重点看好浙江荣泰,其他受益标的伟创电气、日盈电子等。 2. 新能源汽车 2025 年新能源汽车销量同比增长 28.2% 我们认为，2025年新能源汽车销量表现优异，同比增速达28%， 渗透率提升至 47.9%，单月销量渗透率突破 50%高位。短期来 看，在国内以旧换新+出口退税税率调整政策的带动下，预计需 求有望得到推动；中长期来看，在技术和成本的持续优化下， 新能源汽车销量预计保持稳定增长。此外，随着国内储能市场 逐步成熟，海外新能源渗透率持续提升，以及电网老旧、缺电 问题频发等带动下，全球储能电 ...

Core Viewpoint - The article discusses the emergence of Donut Lab, a Finnish company that has developed the world's first mass-producible all-solid-state battery, which has raised skepticism due to the company's lack of experience in battery manufacturing and the ambitious specifications of their product [6][20][29]. Group 1: Donut Lab's Battery Technology - Donut Lab claims its all-solid-state battery has an energy density of 400Wh/kg, which is considered competitive compared to the theoretical limit of liquid lithium batteries at 350Wh/kg [6][21]. - The battery can be charged to full capacity in just 5 minutes and has a cycle life of up to 100,000 times, which challenges existing battery swap models [6][20]. - The battery maintains a capacity retention rate of over 99% at extreme temperatures ranging from -30°C to 100°C, outperforming established companies like CATL [6][20]. Group 2: Company Background and Management - Donut Lab was established as a subsidiary of Verge Motorcycles, with its management team lacking direct experience in battery development, raising questions about their capability to deliver on their ambitious claims [9][13][29]. - The CEO, Marko Lehtimäki, has a diverse entrepreneurial background but no prior experience in battery technology, which adds to the skepticism surrounding the company's claims [9][20]. Group 3: Industry Context and Challenges - The all-solid-state battery is considered the "holy grail" of the battery industry, with established players in East Asia targeting energy densities above 500Wh/kg for future products [21][25]. - Despite the promising specifications, the article highlights significant challenges in achieving mass production and maintaining quality control in the battery manufacturing process [25][26]. - The skepticism surrounding Donut Lab's claims is compounded by the historical context of European companies facing difficulties in the battery sector, as seen with Northvolt [29].

Core Viewpoint - In early 2026, a significant number of A-share companies have announced stock suspension for investigation due to trading volatility, indicating a regulatory push for rational investment and a pause on speculative trading [1][3][9]. Group 1: Companies Under Investigation - Seven A-share companies have announced stock suspension for investigation in 2026, including Guosheng Technology, Jiamei Packaging, Yidian Tianxia, Zhizhi New Materials, *ST Chengchang, Liou Co., and Fenglong Co. [1][3] - The reasons for the trading volatility in these companies are linked to market speculation on hot concepts such as commercial aerospace and AI applications [1][4]. Group 2: Performance and Financials - *ST Chengchang, a commercial aerospace concept stock, experienced a 68.64% increase over 11 trading days before announcing a stock suspension [3]. - Zhizhi New Materials became the first stock to double in 2026, with a price increase of 198.57% before its suspension [4]. - Liou Co. reported a 96.77% increase in stock price over 10 trading days before its suspension [4]. - Guosheng Technology has been in a loss position since 2020, with a projected net profit loss for 2025 [6][7]. - Jiamei Packaging is expected to see a 53.38% decline in net profit for 2025, attributed to a "small year" in the beverage industry [8]. Group 3: Market Reactions and Regulatory Implications - The stock suspension allows investors a "cooling-off period" to reassess company fundamentals and valuation [9]. - Companies like Shangwei New Materials and Aerospace Hanyu have issued warnings about potential stock suspensions if prices continue to rise [10][11]. - Several companies have clarified their lack of involvement in the commercial aerospace sector despite market speculation [12].

Investment Rating - The report does not provide a specific investment rating for the industry [4] Core Insights - The State Grid Corporation of China plans to invest 4 trillion yuan during the 14th Five-Year Plan period, which represents a 40% increase compared to the previous plan, aimed at developing a new power system and enhancing the supply chain [21][22] - The global lithium-ion battery shipment is expected to reach 2,280.5 GWh in 2025, with a growth rate of 47.6% year-on-year, driven by demand in the energy storage sector [14] - The report highlights significant developments in the energy storage sector, including a 2.2 GW independent energy storage project in Hohhot and a 10 GWh energy storage system factory to be built by Sungrow in Egypt [18][19] Summary by Sections Lithium Battery Sector - Container Technology signed a major procurement agreement with CATL to supply 3.05 million tons of lithium iron phosphate materials from Q1 2026 to 2031, with a total sales value exceeding 120 billion yuan [12] - The report recommends focusing on companies like CATL and EVE Energy, as well as new technology directions such as solid-state batteries [6] Energy Storage Sector - Hohhot's independent energy storage project will have a construction scale of 2.2 GW, expected to be operational by the end of 2027 [18] - Sungrow will invest in a 10 GWh energy storage system factory in Egypt, marking a significant step in localizing battery storage system manufacturing [19][20] Power Equipment Sector - The State Grid's investment plan aims to support the construction of a new power system, with a focus on renewable energy integration and enhancing grid capabilities [21][22] - The report suggests monitoring companies involved in ultra-high voltage projects and power equipment exports [6] Photovoltaic Sector - The report notes stable prices for silicon materials and an increase in silicon wafer production, with expectations for a slight rise in production in January [24][25] - The demand for photovoltaic components remains under pressure due to high prices, but there is an anticipated upward trend in component prices [27][28] Wind Power Sector - The report highlights significant offshore wind projects in both domestic and international markets, with recommendations to focus on leading cable and turbine manufacturers [6]

Core Viewpoint - The article highlights the successful launch of a 1.2GWh solid-state battery production line by Jinyu New Energy, emphasizing its innovative technologies and significant contributions to the battery industry [3][10]. Group 1: Company Overview - Jinyu New Energy is recognized as a national-level specialized and innovative "little giant" enterprise, founded by a team of young PhD graduates from Peking University and other institutions [6]. - The company has established itself as a key player in the industry, being a member of the Ministry of Industry and Information Technology's lithium-ion battery safety standard working group and leading the formulation of industry standards [6]. Group 2: Technological Innovations - The production line focuses on three core product series, utilizing self-generating negative electrode technology, including the "Wuji" series all-solid-state lithium metal batteries, "Wanshan" series ultra-fast charging semi-solid batteries, and "Shanhai" series high-safety semi-solid batteries [4]. - Jinyu New Energy has achieved breakthroughs in core technologies, such as the negative electrode technology that significantly reduces production costs and internal resistance by using a copper foil thinner than a human hair [6]. - The electrolyte membrane preparation employs an oxide-polymer composite system, enhancing thermal stability and safety while eliminating traditional battery components like separators and liquid injection [7]. Group 3: Future Plans and Vision - The company aims to continue enhancing its core competitiveness and deepen collaboration across the industry chain, focusing on high-quality development in the global new energy sector [9]. - The chairman of Jinyu New Energy expressed gratitude to various stakeholders, indicating that the new production line marks a critical milestone in the company's efforts to scale production and improve its industrial layout [10].

中国电动汽车，传来利好消息！ 今日晚间，据《环球时报》援引外媒报道，加拿大总理卡尼表示，加拿大将以优惠关税税率进口4.9万辆中国电动汽车。值得关注的是，卡尼宣布，上述优 惠关税税率为6.1%，而此前加拿大对中国电动汽车征收100%的关税。 另据新华社报道，近日，中国人民银行与加拿大银行（即加拿大中央银行）续签双边本币互换协议，互换规模为2000亿元人民币。 事关中国电动汽车，卡尼宣布大消息 据《环球时报》综合法新社、《纽约时报》等多家外媒16日报道，正在中国访问的加拿大总理卡尼表示，加拿大将以优惠关税税率进口4.9万辆中国电动汽 车。 卡尼16日告诉记者："加拿大已同意允许最多4.9万辆中国电动汽车进入加拿大市场，适用6.1%的最惠国关税税率……这恢复到了贸易摩擦前的水平。" 2025年我国汽车产销量再创新高 1月14日，中国汽车工业协会（下称"中汽协"）发布的数据显示，2025年，中国汽车产销累计完成3453.1万辆和3440万辆，产销量再创历史新高，连续17年 稳居全球第一。 其中，乘用车市场稳健增长，作为汽车消费的核心组成部分，有效拉动汽车市场的整体增长；商用车市场回暖向好，产销实现10%以上增长，回归 ...

Core Viewpoint - The company has successfully integrated its stacking machine equipment for solid-state batteries into customer production lines and is steadily advancing its humanoid robot business according to plan [2] Group 1: Solid-State Battery Equipment - The company has deployed stacking machine equipment for new process batteries, specifically solid-state batteries, into customer production lines [2] - This indicates a commitment to innovation and adaptation in the battery technology sector [2] Group 2: Humanoid Robot Business - The humanoid robot business is progressing as planned, focusing on applications in industrial scenarios such as sorting, loading and unloading, and bolt pre-tightening [2] - Future expansions into related process scenarios will depend on the maturity of the technology [2]

（编辑 丛可心） 证券日报网讯 1月16日，中伟新材在互动平台回答投资者提问时表示，近期公司依托产品结构优化、全 球产能布局落地及下游需求回暖，各核心产品线产能利用率呈现持续向好态势。随着储能、固态电池等 行业需求同步爆发，叠加公司多元产品矩阵与全球产能布局的协同优势，后续产能利用将与行业发展同 频增长，持续巩固公司在全球新能源材料赛道的竞争优势。 ...