声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 责任编辑：磐石 有投资者在互动平台向好利科技提问："董秘，您好！请问贵司产品是否已经导入到新能源汽车上？应 用于哪些方面？和哪几个新能源汽车主机厂有合作？" 针对上述提问，好利科技回应称："尊敬的投资者您好，感谢您对公司的关注。熔断器做为新能源汽车 高压电路保护的重要器件，主要应用于高压配电盒、电池管理系统、驱动系统与充电系统等。近年来公 司持续优化电力熔断器产品结构，构建涵盖风电、光伏、储能及充电设施等全方位产品体系，积极拓展 新能源电力熔断器领域客户，不断提高公司在电力产品市场份额。公司已通过IATF16949汽车质量管理 体系认证，并通过多种渠道探索新能源电动汽车市场，为公司未来更广泛的市场布局奠定坚实基础。" ...

专题报告 2025-09-22 报告要点： 当前锂电材料旺季，碳酸锂供给增速低于消费端，基本面出现修复。短期现货偏紧，锂价底 部支撑强，市场等待新驱动，建议博弈聚焦资源供给持续性及需求预期差。 吴坤金 有色研究员 从业资格号：F3036210 交易咨询号：Z0015924 0755-23375135 wukj1@wkqh.cn 曾宇轲（联系人） 有色研究员 从业资格号：F03121027 0755-23375139 zengyuke@wkqh.cn 有色金属研究 | 碳酸锂 碳酸锂：旺季底部支撑较强 1、近期行情回顾 碳酸锂：旺季底部支撑较强 7 月中旬至 9 月上旬，碳酸锂市场呈现剧烈波动。7 月初，焦煤、多晶硅、工业硅、碳酸锂等 超跌品种在"反内卷"呼声下摆脱下跌趋势。随后碳酸锂市场博弈点转向资源端，宜春储量 核实、藏格锂业停产、宜春银锂检修等消息引发矿端供给收紧猜想，而宁德时代宜春锂云母 矿停产将市场情绪推向高潮，碳酸锂期货价格一度冲高至 9 万元附近。后续市场情绪逐渐降 温，交易回归基本面。国内碳酸锂产量小幅回调后持续增长，实际供需缺口低于市场预期。 同时，产业资金珍惜盘面套保机会，多头资金逐渐谨慎， ...

Report Industry Investment Rating - Not provided in the report Report's Core View - On September 19, the main contract of lithium carbonate futures fluctuated upward. The spot market trading was fair, and the basis changed from premium to discount. Considering cost, spodumene concentrate prices rose, as did mica prices. On the supply side, lithium carbonate production increased last week, with output from different raw materials rising. In terms of downstream demand, lithium iron phosphate production and ternary material production increased last week. In September, lithium cobaltate and lithium phosphate production schedules increased, and power battery production was basically flat last week. In terms of terminal demand, the year - on - year growth rate of new energy vehicle production slowed in August, 3C shipments were average, and energy - storage battery production increased in September. In terms of inventory, registered warehouse receipts increased by 130 tons to 39484 tons, social inventory decreased, with smelters and others destocking, and downstream restocking. Overall, the current supply and demand are both strong, upstream inventory pressure is not large, and as downstream lithium mine resumption is actively advancing, the expectation of supply contraction weakens. It is expected that lithium carbonate prices will fluctuate at a low level. One should be vigilant about the downstream restocking node and the deadline for Jiangxi mine - end reserve reports [1]. Summary by Relevant Catalogs Lithium Carbonate Futures Market - **Prices**: On September 19, the closing prices of the near - month contract, consecutive - one contract, consecutive - two contract, and consecutive - three contract were 73760 yuan/ton, 73960 yuan/ton, 74040 yuan/ton, and 73960 yuan/ton respectively, with changes of 1140 yuan/ton, 1100 yuan/ton, 1100 yuan/ton, and 1100 yuan/ton compared to the previous day [1]. - **Volume and Open Interest**: The trading volume of lithium carbonate futures was 370359 hands (- 131910), and the open interest was 281264 hands (- 147) [1]. - **Spreads**: The spread between the near - month and consecutive - one contracts was 160 yuan/ton, the spread between consecutive - one and consecutive - two contracts was - 20 yuan/ton, and the spread between consecutive - two and consecutive - three contracts was 0 yuan/ton [1]. - **Basis**: The basis (SMM battery - grade lithium carbonate average price - lithium carbonate active contract closing price) was 1290 yuan/ton [1]. Lithium Ore Prices - **Spodumene Concentrate**: The average price of spodumene concentrate (6%, CIF China) was 842 US dollars/ton [1]. - **Lithium Mica**: The average price of lithium mica (Li2O: 1.5% - 2.0%) was 1150 yuan/ton, and the average price of lithium mica (Li2O: 2.0% - 2.5%) was 1880 yuan/ton [1]. - **Phospho - lithium - aluminum Stone**: The average price of phospho - lithium - aluminum stone (Li2O: 6% - 7%) was 5770 yuan/ton, and the average price of phospho - lithium - aluminum stone (Li2O: 7% - 8%) was 7215 yuan/ton [1]. Lithium Salt Prices - **Lithium Carbonate**: The average price of battery - grade lithium carbonate (99.5%, domestic) was 73500 yuan/ton, and the average price of industrial - grade lithium carbonate (99.2%, domestic) was 71250 yuan/ton [1]. - **Lithium Hydroxide**: The average price of battery - grade lithium hydroxide (56.5%, CIF China, Japan, and South Korea) was 9.3 US dollars/kg, the average price of battery - grade lithium hydroxide (56.5%, coarse - particle, domestic) was 74050 yuan/ton, and the average price of battery - grade lithium hydroxide (56.5%, micron - powder type, domestic) was 78970 yuan/ton [1]. Other Battery Material Prices - **Lithium Iron Phosphate**: The average price of power - type lithium iron phosphate was 33630 yuan/ton, the average price of mid - to high - end energy - storage type lithium iron phosphate was 32235 yuan/ton, and the average price of low - end energy - storage type lithium iron phosphate was 29430 yuan/ton [1]. - **Lithium Cobaltate**: The average price of lithium cobaltate (60%, 4.35V, domestic) was 236500 yuan/ton [1]. - **Electrolyte**: The average price of electrolyte for ternary power batteries was 22250 yuan/ton, the average price of electrolyte for lithium iron phosphate batteries was 18250 yuan/ton, and the average price of electrolyte for lithium cobaltate batteries was 0 yuan/ton [1]. Inventory - **Registered Warehouse Receipts**: The registered warehouse receipts of lithium carbonate were 39484 tons (+ 130) [1]. - **SMM Lithium Carbonate Inventory**: The total SMM lithium carbonate inventory was 137531 tons, with smelters and others destocking and downstream restocking [1]. News and Information - Argentina exported 8099.95 tons of lithium carbonate in August, with 6528 tons exported to China [1]. - The president of the China Non - Ferrous Metals Industry Association stated that many domestic alumina enterprises' projects are accelerating, and lithium battery raw material enterprises should rationally judge the industry scale and supply - demand relationship [1]. Investment Strategy - It is recommended to wait and see [1].

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 一则重磅消息搅动市场。 周末 ， 一则关于 刚果（金）考虑 延长 钴出口禁令 的消息 ， 引发市场高度关注 。北京时间9月22日凌 晨，刚果（金）战略矿产监管机构表示，该国将延长钴出口禁令至10月15日，将于10月16日解除钴出口 禁令，并实施年度出口配额。 有分析指出，刚果（金）是全球钴的主要供应国，禁令再次延期，将给全球钴产业链带来新的变数，短期 钴价或将迎来大幅上涨。 此前，刚果（金）于2月宣布暂停钴出口4个月，后又延长禁令3个月（至9月22日左右）。受刚果（金） 钴出口禁令影响，今年以来，钴的价格一路飙升，据生意社数据，截至9月18日，钴的最新价格已突破27 万元/吨，相较年初累计上涨62.7%。 有券商机构表示，从全年维度看，对钴价持乐观态度。从长期看，刚果（金）可能实施钴出口配额来提升 对于钴的定价权，钴价中枢有望抬升。 北京时间9月22日凌晨，刚果（金）战略矿产监管机构表示，该国将延长钴出口禁令至10月15日，将于 10月16日解除钴出口禁令，并实施年度出口配额。根据公告，矿企将在20 ...

Group 1: Report Overview - Report Title: Carbonate Lithium Weekly Report [1] - Report Date: September 22, 2025 [3] - Core Theme: Resource Disturbance and Game Intensify, Lithium Price Fluctuates Widely [3] Group 2: Core Views and Strategies - Last Week's Review: Due to the unclear final ruling of Jiangxi mines, the market took a break after a long - term game. With the return of the logic of over - capacity governance, the price slightly increased. However, both bulls and bears lacked confidence in the future of Jiangxi mines on September 30, and the price remained stable during the week [4] - Future Views: This week is the end of the month, and whether Jiangxi lithium mines can continue production will be gradually revealed. The bulls and bears will intensively game under various information, leading to wide - range fluctuations in lithium prices. Fundamentally, although lithium prices have dropped significantly, the supply side is less sensitive to price drops under the protection of upstream salt factory hedging orders, and production remains at a high level. The energy - storage market continues to be hot, with saturated export orders and strong demand for photovoltaic glass. The energy - storage peak season is approaching, indicating good consumption resilience. The power terminal faces slow - down pressure in growth due to a high base. There is a structural contradiction between the subsidy funds tilting upwards and the sinking of terminal consumption, which may not effectively drive significant growth in the consumption peak season, but the consumption increment expectation can still continue. Overall, carbonate lithium may still be affected by the situation of Jiangxi resources, and the actual driving force of fundamentals is limited, with lithium prices likely to fluctuate widely [4][14] Group 3: Market Data - Imported Lithium Ore (1.3% - 2.2%): The price on September 19, 2025, was $136/ton, down $2 or 1.45% from September 12 [5] - Imported Lithium Concentrate (5.5% - 6%): The price on September 19, 2025, was $812/ton, down $9 or 1.10% from September 12 [5] - Domestic Lithium Concentrate (5.5% - 6%): The price on September 19, 2025, was 812 yuan/ton, down 9 yuan or 1.10% from September 12 [5] - Spot Price of Battery - Grade Carbonate Lithium: On September 19, 2025, it was 74,000 yuan/ton, up 2,800 yuan or 3.93% from September 12 [5] - Spot Price of Industrial - Grade Carbonate Lithium: On September 19, 2025, it was 70,900 yuan/ton, up 200 yuan or 0.28% from September 12 [5] - Main Contract Price of Carbonate Lithium: On September 19, 2025, it was 73,800 yuan/ton, up 2,600 yuan or 3.62% from September 12 [5] - Battery - Grade Lithium Hydroxide (Coarse): On September 19, 2025, it was 73,900 yuan/ton, down 100 yuan or 0.14% from September 12 [5] - Battery - Grade Lithium Hydroxide (Fine): On September 19, 2025, it was 78,900 yuan/ton, down 100 yuan or 0.13% from September 12 [5] - Total Carbonate Lithium Inventory: As of September 19, it was 130,446 tons, up 280 tons or 0.22% from the previous period [5][13] - Lithium Iron Phosphate Price: On September 19, 2025, it was 33,900 yuan/ton, up 100 yuan or 0.30% from September 12 [5] - Lithium Cobalt Oxide Price: On September 19, 2025, it was 219,000 yuan/ton, up 4,000 yuan or 1.86% from September 12 [5] - Ternary Material Price (811): On September 19, 2025, it was 145,000 yuan/ton, unchanged from September 12 [5] - Ternary Material Price (622): On September 19, 2025, it was 124,500 yuan/ton, unchanged from September 12 [5] Group 4: Market Analysis and Outlook Last Week's Market Analysis - Supervision and Delivery: As of September 19, 2025, the warehouse - receipt scale of Guangzhou Futures Exchange was 39,484 tons, with the latest matching transaction price of 74,700 yuan/ton. The position scale of the main contract 2511 was 281,200 lots [7] - Supply Side: As of September 19, the weekly carbonate lithium production was 21,125 tons, an increase of 125 tons from the previous period. Recently, new production capacities have been released from salt lakes at home and abroad, and the mica - based lithium extraction in Jiangxi, China, shows signs of recovery. The overall supply side is stable. Although the decline in lithium prices has shifted from boosting to dragging down lithium concentrate, the price decline of imported lithium concentrate is similar to that of mica, and the relative economic advantage of lithium concentrate still exists, which may support the continued popularity of spodumene - based lithium extraction. Without a significant decline in lithium prices, lithium salt supply may remain at a high level in the medium - to - long term [7] - Lithium Salt Import: In July, the carbonate lithium import volume was about 13,800 tons, a month - on - month decrease of 21.8% and a year - on - year decrease of 42.7%. Among them, about 8,584 tons were imported from Chile, a month - on - month decrease of 27.6%, accounting for about 62.2%. 3,950 tons were imported from Argentina, a month - on - month decrease of 22.5%, accounting for about 28.6%. Chile's carbonate lithium export volume in July was about 20,900 tons, a year - on - year and month - on - month increase of 4% and 43% respectively. The scale of carbonate lithium exported to China was about 13,600 tons, a year - on - year decrease of 13% and a month - on - month increase of 33%, accounting for about 65.07% of Chile's total exports [8] - Lithium Ore Import: In July, the total lithium ore import volume was about 750,700 tons, a month - on - month increase of 30.3%. Among them, 427,000 tons were imported from Australia, a month - on - month increase of 67.2%, accounting for about 56.88%; about 64,000 tons were imported from Zimbabwe, a month - on - month decrease of 36.2%, accounting for about 8.5%; about 106,000 tons were imported from South Africa, a month - on - month increase of 8.1%, accounting for 14.1%; and about 116,000 tons were imported from Nigeria, a month - on - month increase of 47.3%. The significant increase in the import volume of spodumene concentrate in July was mainly due to the significant increase in mica ore prices, which made the relative economic benefits of spodumene ore more obvious, leading to a significant increase in the operating rate of spodumene - based lithium extraction capacity and thus boosting the demand for lithium ore [9][10] - Demand - Downstream Cathode Materials: As of September 19, the total lithium iron phosphate production was about 78,226 tons, with an operating rate of 68.84%, a decrease of 0.06 percentage points from the previous period, and the inventory was 50,450 tons, an increase of 900 tons from the previous period. The total ternary material production was about 17,960 tons, with an operating rate of 47%, an increase of 0.27 percentage points from the previous period, and the inventory was 12,825 tons, a decrease of 50 tons from the previous period. In terms of price, as of September 19, the ternary material price was relatively stable, with the 6 - series ternary price remaining at 141,700 yuan/ton and the 8 - series price at 147,400 yuan/ton. The price of lithium iron phosphate for power increased from 34,700 yuan/ton to 34,800 yuan/ton, and the price for energy - storage increased from 34,050 yuan/ton to 34,200 yuan/ton. Overall, there is a slight structural differentiation in the cathode material market, mainly because the energy - storage consumption is hot while the power terminal is relatively stable. Since domestic energy - storage projects are prohibited from using ternary batteries, the price of lithium iron phosphate materials is relatively strong, and the ternary price has remained stable recently. In the future, due to the structural contradiction in the power terminal, the demand intensity of the energy - storage market may still be better than that of the power market, and the price resilience of lithium iron phosphate may be stronger than that of ternary materials [11] - New - Energy Vehicles: From September 1 - 14, the retail volume of the national new - energy passenger vehicle market was 438,000 vehicles, a year - on - year increase of 6% compared with the same period in September last year and a month - on - month increase of 10%. The retail penetration rate of the national new - energy passenger vehicle market was 59.8%, and the cumulative retail volume since the beginning of this year was 8.008 million vehicles, a year - on - year increase of 25%. From high - frequency data, the consumption growth rate of new - energy vehicles has turned positive, and the retail market has marginally recovered. According to the data from the Passenger Car Association, the inventory of the passenger vehicle market at the end of August has dropped to 3.16 million vehicles, a decrease of about 240,000 vehicles from the high of 3.5 million vehicles in April. This shows that both car manufacturers and channels have actively reduced inventory. From the production of new - energy vehicles, since March this year, the production has been almost flat, and the production - sales ratio has continued to rise, indicating that vehicle manufacturers have a clear intention to reduce inventory. On the one hand, it is to relieve the pressure on cash flow from the 60 - day accounts - payable period, and on the other hand, it may be due to a cautious expectation of the future market. The Passenger Car Association predicts that the new subsidy policy is more inclined to high - end models, while the current social purchasing power has shifted downwards. The mismatch between the consumption structure and the subsidy structure may limit the driving force of the subsidy policy on demand [12] - Inventory: As of September 19, the total carbonate lithium inventory was 130,446 tons, a cumulative increase of about 280 tons from the previous period. Among them, the factory inventory was 26,095 tons, a decrease of about 460 tons from the previous period; the market inventory was 64,867 tons, a decrease of about 119 tons from the previous period; and the exchange inventory was 39,484 tons, an increase of 859 tons from the previous week [13] This Week's Outlook - This week is the end of the month, and whether Jiangxi lithium mines can continue production will be gradually revealed. The bulls and bears will intensively game under various information, leading to wide - range fluctuations in lithium prices. Fundamentally, although lithium prices have dropped significantly, the supply side is less sensitive to price drops under the protection of upstream salt factory hedging orders, and production remains at a high level. The energy - storage market continues to be hot, with saturated export orders and strong demand for photovoltaic glass. The energy - storage peak season is approaching, indicating good consumption resilience. The power terminal faces slow - down pressure in growth due to a high base. There is a structural contradiction between the subsidy funds tilting upwards and the sinking of terminal consumption, which may not effectively drive significant growth in the consumption peak season, but the consumption increment expectation can still continue. Overall, carbonate lithium may still be affected by the situation of Jiangxi resources, and the actual driving force of fundamentals is limited, with lithium prices likely to fluctuate widely [14] Group 5: Industry News - Tianqi Lithium Industry: The company's pilot project for an annual production of 50 tons of lithium sulfide has been officially launched. On September 16, Tianqi Lithium Industry stated on the interactive platform that in the research field of key materials for next - generation high - performance lithium batteries, the new electrolytic preparation technology has completed experimental - level verification, and the construction of the pilot line is being actively promoted; the experimental platform for the development of stable - state alloy anodes has been improved, with the ability to develop from "gram - level to kilogram - level to hundred - kilogram - level", and five types of binary lithium - alloy anode materials have entered the verification stage by battery cell customers; a stable production capacity of 300 - mm wide lithium strips has been established, and the preparation of ultra - thin composite strips has been achieved; in terms of sulfide solid - state electrolyte materials, based on the preparation work for the industrialization of lithium sulfide, the company's pilot project for an annual production of 50 tons of lithium sulfide has been officially launched in response to the demand for lithium sulfide from downstream sulfide solid - state electrolytes. The project uses self - developed new technologies and equipment for lithium sulfide preparation, with low - risk and rapid mass - production capabilities [15] - Zijin Mining: The 20,000 - ton - per - year carbonate lithium project in Argentina has been put into production. On September 14, according to Zijin Mining, on September 12 local time in Argentina, the commissioning ceremony of the 20,000 - ton - per - year carbonate lithium project of Lithium Kesi 3Q Lithium Salt Lake, a subsidiary of Zijin Mining, was held in Fiambala City, Catamarca Province. Currently, the pre - work such as the permit approval for the second - phase project is being carried out in an orderly manner, with a planned carbonate lithium production capacity of 40,000 tons/year. After the full operation of both phases, the annual production capacity is expected to reach 60,000 - 80,000 tons [15] - Hubei Liyuan: The production capacity of lithium iron phosphate has been upgraded and put into production. Hubei Liyuan, a subsidiary of Longpan Technology, announced that after more than a month of production - line upgrading and transformation, the A and B lines of the iron phosphate workshop have been fully put into production, with the production capacity steadily increasing and exceeding expectations, and the quality parameters of the offline products meeting the standards. The total investment of this project is 3 billion yuan, including a production base with an annual output of 100,000 tons of lithium iron phosphate and 50,000 tons of iron phosphate, mainly supplying to leading enterprises such as Tesla and CATL [15] Group 6: Related Charts - The report includes multiple charts showing the prices, production, and import volume of carbonate lithium, lithium hydroxide, lithium iron phosphate, ternary materials, and battery production, with data sources from iFinD, Antaike, and Tongguan Jinyuan Futures [17][19][21]

Core Insights - The report highlights the strong performance of the semiconductor industry, particularly in AI computing chips, with significant revenue growth observed among domestic manufacturers [22][24][29] - The communication sector is also noted for its robust growth, with a focus on cloud services and digital integration in various industries [16][19] - The report emphasizes the importance of government policies in supporting economic recovery and market stability, particularly in consumer spending and real estate [5][7][10] Domestic Market Performance - The Shanghai Composite Index closed at 3,820.09, down 0.30%, while the Shenzhen Component Index closed at 13,070.86, down 0.04% [3] - The A-share market has shown a wide fluctuation, with various sectors such as automotive, tourism, and pharmaceuticals performing well, while sectors like internet services and non-ferrous metals lagged [8][11] International Market Performance - Major international indices such as the Dow Jones and S&P 500 experienced declines of 0.67% and 0.45% respectively, indicating a cautious global market environment [4] Industry Analysis - The semiconductor industry saw a 23.84% increase in August, outperforming the broader market, with integrated circuits leading the growth [22] - The communication industry index rose by 33.78% in August, significantly outpacing other indices, driven by increased demand for digital services [16] - The report notes a 26.82% year-on-year increase in new energy vehicle sales, highlighting the growing market for electric vehicles [21] Investment Recommendations - The report suggests focusing on sectors such as AI computing, communication technology, and new energy vehicles for potential investment opportunities [15][20][22] - Specific companies in the semiconductor and AI chip sectors are recommended for their strong growth prospects and market positioning [22][24][29]

一则重磅消息搅动市场。 有券商机构表示，从全年维度看，对钴价持乐观态度。从长期看，刚果（金）可能实施钴出口配额来提升对于钴的定价权，钴价中枢有望抬升。 周末 ， 一则关于 刚果（金）考虑 延长 钴出口禁令 的消息 ， 引发市场高度关注 。北京时间9月22日凌晨，刚果（金）战略矿产监管机构表示，该国将延 长钴出口禁令至10月15日，将于10月16日解除钴出口禁令，并实施年度出口配额。 刚果（金）再次延长钴出口禁令 有分析指出，刚果（金）是全球钴的主要供应国，禁令再次延期，将给全球钴产业链带来新的变数，短期钴价或将迎来大幅上涨。 此前，刚果（金）于2月宣布暂停钴出口4个月，后又延长禁令3个月（至9月22日左右）。受刚果（金）钴出口禁令影响，今年以来，钴的价格一路飙升，据生意社 数据，截至9月18日，钴的最新价格已突破27万元/吨，相较年初累计上涨62.7%。 影响多大？ 作为一种关键战略金属，钴是锂离子电池的关键组成部分，赋予锂离子电池较高的能量密度。在三元锂电池中，钴的存在可增强电池的稳定性和安全性。 从需求端来看，新能源车用动力电池和消费类电子电池是钴最主要的应用领域。展望未来，业内普遍认为，随着新能源汽车和 ...

全球化工产业正处于深刻变革的浪潮中，焦虑、迷茫又充满希望是许多企业的真实状态，下一步究竟应该往哪走？我们认为， 中国新兴产业崛起将引 领高分子下个十年！ 2025年9月10-12日，由 宁波德泰中研信息科技有限公司（DT新材料） 主办、 舟山市投资促进中心、中国科学院宁波材料技术与工程研究所浙江校友 会 协办的 2025高分子产业年会 在合肥新站利港喜来登酒店盛大举行。 大会 立足全球视野，邀请到来自国际领先企业、代表性产业化专家、政府、园区、资本、协会和联盟等产业链上下游共计 55位报告嘉宾 ，设置一大 宏观论坛+高层闭门会议+六大材料及应用专题，共探 AI、具身机器人、低空经济、航空航天、新能源汽车、电磁屏蔽和新一代通信等新兴产业的材 料、技术、装备新机遇。 大会还 于开幕式进行了 2025"新塑奖"工程塑料产业创新评选颁奖盛典！ 会议首日精彩，详见： 圆满落幕！2025高分子产业大会精彩瞬间（上篇） 会议第二天，分为 航空航天与低空经济创新材料及应用论坛、第七届新能源汽车创新材料及应用论坛、第三届高分子电磁复合材料及应用论坛 三大会 场平行进行。 航空航天与低空经济创新材料及应用论坛 王继强，中国科学院 ...

Core Insights - The 2025 Munich International Motor Show showcased a significant presence of Chinese automotive manufacturers and suppliers, with 116 exhibitors, the highest among international participants, indicating a strong shift in the global automotive landscape [2][14] - Chinese automotive companies are transitioning from exploratory participation to establishing a solid foothold in the European market, demonstrating a comprehensive representation of the entire automotive supply chain [2][9] Group 1: Chinese Automotive Brands - BYD launched its Dolphin Surfing Edition at the Munich Motor Show, priced at €37,990 (approximately ¥316,000), marking its first mass-produced model from its upcoming European factory in Hungary [3] - Xpeng Motors gained attention through its collaboration with Volkswagen, showcasing five new models and advanced technologies, including humanoid robots and flying cars [4][5] - Leap Motor's B10, a global model, has seen over 50,000 deliveries since its launch in China, with plans for European delivery starting in October [6] Group 2: Technological Innovations - CATL introduced the NP3.0 technology platform, the highest safety level in battery technology, and launched the Shining Pro lithium iron phosphate battery, responding to the European market's demand for electric vehicle safety and efficiency [9] - Lightyear showcased its NOA intelligent driving and L4 autonomous driving solutions, announcing a global strategy and a partnership with Qualcomm to enhance its technological capabilities [10] - Momenta presented its AI technology and deep collaborations with over 20 global automakers, including plans for L4 autonomous Robotaxi operations in Munich by 2026 [11] Group 3: European Automotive Industry Response - European automakers like BMW and Mercedes are emphasizing collaboration with Chinese companies to enhance battery performance and meet the demands of the Chinese market [13][14] - Audi's CEO acknowledged China's advancements in automotive intelligence and electrification, highlighting the importance of partnerships with Chinese tech firms [14] - The Munich Motor Show illustrated a dual dynamic of competition and cooperation between Chinese and European automotive industries, driving innovation and transformation in the sector [14][15]

丨 2025年9月22日星期一丨 点评：理想汽车超充网络在过去三个月显著扩张，新增768座超充站并加速布局5C超充技术，体现其补 能体系战略升级。该举措有望强化品牌电动化竞争力，带动新能源汽车产业链相关企业关注度提升，尤 其是充电设施及零部件供应商。对股市整体而言，新能源基础设施建设的提速或进一步提振市场对绿色 交通板块的信心，推动资本向可持续能源领域倾斜。 NO.1 广汽品牌及首批埃安车型进入葡萄牙市场 9月21日消息，广汽已于近日正式将广汽品牌及其首批埃安车型引入葡萄牙市场。葡萄牙是广汽在欧洲 正式上市的第二个市场，当地发售的首款车型为AION V。根据规划，截至今年底，广汽将进入欧洲超 十个国家。 点评：广汽进军葡萄牙市场，标志着其欧洲战略再落一子，继前期布局后欧洲国家覆盖加速推进。此举 有望提升广汽品牌在国际市场的能见度，强化其全球化形象，对整车制造及新能源汽车板块带来积极预 期。海外扩张步伐加快，不仅为广汽带来新增量空间，亦侧面印证中国智造新能源汽车的竞争力，或提 振市场对汽车板块整体出海潜力的关注度。 NO.2 小马智行与新加坡交通运营商合作部署自动驾驶 自动驾驶公司小马智行9月20日宣布正式进入 ...