Investment Rating - The report maintains a "Recommended" rating for the new materials industry [1]. Core Insights - The new materials sector is a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate their long-term growth. The report emphasizes that "one generation of materials supports one generation of industry," highlighting the foundational role of the new materials industry in supporting other sectors [6]. Summary by Sections 1. New Materials Industry Dynamics 1.1 Electronic Information Sector - On June 6, SEMI reported that the global semiconductor equipment shipment value increased by 21% year-on-year in Q1 2025, reaching $32.05 billion. However, there was a 5% quarter-on-quarter decline due to typical seasonal patterns [8][24]. 1.2 Aerospace Sector - The report highlights key materials such as PI films, precision ceramics, and carbon fibers as areas of focus [11]. 1.3 New Energy Sector - The report emphasizes the importance of photovoltaic materials, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials [13]. 1.4 Biotechnology Sector - The focus is on synthetic biology and scientific services, with a notable mention of China's potential to surpass the U.S. in biotechnology, particularly in drug development [15]. 1.5 Energy Conservation and Environmental Protection Sector - Key areas include adsorbent resins, membrane materials, and biodegradable plastics [16]. 2. Key Companies and Earnings Forecast - The report lists several key companies with their stock prices and earnings per share (EPS) forecasts for 2024, 2025E, and 2026E, along with their price-to-earnings (PE) ratios and investment ratings. For example, Ruihua Tai (688323.SH) has a stock price of 13.85 with an EPS forecast of 0.06 for 2025E, rated as "Increase Holding" [18]. 3. Industry Rating and Investment Strategy - The new materials sector is expected to benefit from the catalytic effects of downstream application sectors, gradually entering a prosperous cycle, thus maintaining a "Recommended" rating for the new materials industry [17].

中经记者 陈燕南 北京报道 《五部门关于开展2025年新能源汽车下乡活动的通知》（以下简称"《通知》"）显示，选取满足乡村地 区使用需求、口碑好、质量可靠的新能源车型，开展展览展示、试乘驾驶等活动。 据了解，今年车型目录中共有124款车型，相比之下，2020—2024年分别为60款、52款、70款、69款、 99款。除了数量进一步扩大，车型种类也更丰富。不仅有常见的家用车型，还包括越野车、商用车，以 及皮卡、轻卡等适合农村使用场景的车型，价格从几万元到几十万元不等，为农村消费者提供了更广泛 的选择空间。 值得关注的是，此次进入目录的车企也数量更多，一汽、理想、长城、一汽丰田、郑州日产、北汽福 田、潍柴新能源商用车等都涵盖在内。 广州眺远营销咨询公司总监高承飞则对记者表示，此次新能源汽车下乡活动，车型数量大幅增加至124 款，这不仅为消费者提供了更丰富的选择，也体现了新能源汽车市场的日益成熟和多元化。 "相比以往，此次下乡活动更注重车型的适配性，针对农村及三四线城市的路况、使用场景和消费者需 求，筛选出更多适合的车型，如小型SUV、微型电动车等，这些车型在续航、空间和价格上更具优势， 能够更好地满足农村消费者日 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The zinc price's box - style oscillation pattern awaits a breakthrough, while the lead price is expected to remain volatile. Attention should be focused on the price trend of waste batteries [4][64]. 3. Summary According to the Table of Contents 3.1 Report Abstract - The US ADP employment increase in a certain month was 1.37 million, lower than the expected 1.5 million and the previous value of 2.625 million, reaching the lowest level in years. The market focused on this data [4]. - China's manufacturing PMI in a certain month was 49.5%, up 0.5 percentage points from the previous month, but still below the critical point. It was the first time to fall below the critical point in a certain period [4]. - The European Central Bank mentioned continued small - scale interest rate cuts, and countries would increase investment in national defense and infrastructure, providing support on a broader macro - level [4]. - The China Zinc Raw Material Joint Negotiation (Coordination) Group announced the guidance price range for imported zinc concentrate procurement fees in the third quarter of 2025 [4]. - The supply of zinc raw materials remained loose, and the zinc ingot output might have a large - scale increase. The domestic zinc ingot social inventory decreased slightly, and the low inventory supported the zinc price [4]. - The supply of recycled lead was unstable, and the inventory of lead ingots in the national market increased. The consumption of waste batteries was weak, and the lead price was expected to remain volatile [4]. 3.2 Multi - and Short - Focus 3.2.1 Multi - and Short - Factors Analysis (Zinc) - Bullish factors: The output of domestic and foreign zinc mines may accelerate in June, and the zinc ingot output ratio may have a large - scale increase, and the social inventory has decreased [7]. - Bearish factors: The consumption end is weak [7]. 3.2.2 Multi - and Short - Factors Analysis (Lead) - Bullish factors: The supply of recycled lead is still unstable [10]. - Bearish factors: The operating rate of primary lead enterprises is high, the price of waste batteries is running weakly, and the off - season consumption has not improved significantly [10]. 3.3 Data Analysis 3.3.1 Zinc - Related Data - In April, China's zinc ore concentrate imports were 494,662.21 tons, with a month - on - month increase of 37.64% and a year - on - year increase of 72.63%. The supply from major countries increased, and Australia became the top supplier [12]. - In June, the average domestic zinc concentrate TC increased by 150 yuan/metal ton to 3,650 yuan/metal ton, and the average imported ore TC increased by 10 dollars/dry ton to 55 dollars/dry ton. The China Zinc Raw Material Joint Negotiation (Coordination) Group released the guidance price range for imported zinc concentrate procurement fees [15]. - The price of zinc concentrate slightly increased. The price of 50% zinc concentrate in Hechi was 17,930 yuan/ton, up 90 yuan/ton from the previous week; in Chenzhou, it was 17,700 yuan/ton, up 70 yuan/ton from the previous week [20]. - In April, China's refined zinc output was 576,000 tons, down 39,000 tons from March, with a year - on - year slight increase of 0.3%. From January to April, the cumulative output was 2.333 million tons, and the year - on - year decline narrowed to 2.9%. Due to the increase in zinc ore processing fees, the smelter's production profit was repaired [23]. - In April, refined zinc imports were 28,200 tons, with a month - on - month increase of 2.4% and a year - on - year decrease of 38.66%. From January to April, the cumulative imports were 129,200 tons, with a year - on - year decrease of 9.44% [26]. - Policies such as the new energy vehicle countryside campaign and urban renewal were introduced, which may have an impact on the consumption of zinc in related industries [30]. - As of June 5, the LME zinc inventory was 137,150 tons, down 1.44% from the previous week. The SHFE zinc inventory decreased by 4% to 42,310 tons in the week of May 30. As of June 5, the zinc ingot inventory in the national main markets was 58,300 tons, down 900 tons from June 3 [33]. 3.3.2 Lead - Related Data - This week, the lead futures and spot prices rebounded after hitting the bottom. The basis was 55 yuan/ton, and the premium range narrowed. The price difference between 1 lead and recycled refined lead was 110 yuan/ton, down 60 yuan/ton from the previous week [38]. - The weekly price of 60% lead concentrate in Kunming decreased by 257 yuan/ton, and in Baoji, it decreased by 251 yuan/ton. As of May 30, the lead concentrate processing fees in different regions changed, with some decreasing and some increasing [42]. - In April 2025, the lead concentrate imports were 111,046 physical tons, with a month - on - month decrease of 4.3% and a year - on - year increase of 22.1%. As of 2025, the cumulative lead concentrate imports were about 448,700 physical tons, with a year - on - year increase of 41%. In April, the refined lead imports were 4,734 tons, with a month - on - month increase of 65% [46]. - In April 2025, China's lead output was 664,000 tons, with a year - on - year decrease of 1%. Both primary lead and recycled lead production decreased in April, but some enterprises resumed production in May [48]. - The operating rate of primary lead increased by 5.98 percentage points to 66.26%. The operating rate of recycled lead enterprises increased by 10.94 percentage points to 62.91%, and the operating rate of lead batteries increased by 1.99 percentage points to 74.34% [51][53][57]. - Last week, the LME lead inventory decreased after a large - scale increase, and the SHFE lead inventory decreased by 3.98% to 46,500 tons in the week of May 30. As of June 5, the national main market lead ingot social inventory was 50,800 tons, up 3,900 tons from June 3 [61]. 3.4 Market Outlook - The zinc price's box - style oscillation pattern awaits a breakthrough; the lead price is expected to remain volatile, and attention should be paid to the price trend of waste batteries [64].

V期现日报 投资次输业务资格·证监许可 【2011】1292 2025年6月6日 林嘉施 Z0020770 | 价格及基差 | | | | | | | --- | --- | --- | --- | --- | --- | | | 现值 | 前值 | 日涨跌 | 日涨跌幅 | 单位 | | 304/2B (无锡宏旺2.0卷) | 13050 | 13100 | -50 | -0.38% | 元/吨 | | 304/2B (佛山宏旺2.0卷) | 13050 | 13050 | O | 0.00% | 元/吨 | | 期现价差 | 530 | 550 | -20 | -3.64% | 元/吨 | | 原料价格 | | | | | | | | 现值 | 前值 | 日涨跌 | 日涨跌幅 | 单位 | | 菲律宾红土镍矿1.5%(CIF)均价 | ਦਰੇ | ਦੌਰੇ | O | 0.00% | 美元/湿吨 | | 南非40-42%铬精矿均价 | 60 | ୧୦ | - J | -0.83% | 元/吨度 | | 8-12%高镍生铁出厂均价 | 957 | વેરૂદ | 1 | 0.05% | 元/镍点 | | 内 ...

Group 1: Technology Developments - Huawei's Pura 80 series phone has over 120,000 reservations before its official launch, with full sales starting on June 11 [2] - Microsoft has integrated an AI agent named Athena into its Teams application to optimize product development processes, with the source code available on GitHub [3] - Amazon is forming a new team in its Lab126 division to develop warehouse robots powered by AI for unloading trailers and creating advanced maps for delivery drivers [4] Group 2: Automotive Industry Updates - Tesla has been included in the "New Energy Vehicles Going to the Countryside" catalog for the first time, with its Model Y and Model 3 added to the list of 124 models for 2025, an increase of 25 models from 2024 [5] - XPeng Motors and Huawei have jointly launched an AR head-up display system aimed at enhancing smart driving assistance, set to debut in the upcoming XPeng G7 model [5] - OPPO has signed a global patent licensing agreement with Volkswagen Group, marking OPPO's first collaboration with an automotive company [10] Group 3: AI and Robotics Innovations - ByteDance's ByteBrain team has developed a deep reinforcement learning-based VMR system that reduces inference time to 1.1 seconds while maintaining near-optimal performance [6] - Honor has announced multiple job openings related to robotics research and development, indicating a focus on advancing robotics technology [11] Group 4: Market and Financial Activities - Kuaishou's Keling AI has surpassed 100 million RMB in monthly revenue for two consecutive months, with an annualized revenue run rate exceeding 100 million USD [9] - Super Pure Application Materials has completed its IPO counseling registration with the Sichuan Securities Regulatory Bureau, focusing on semiconductor and laser device manufacturing [14] - Yisiwei Technology's IPO application has been accepted by the Shanghai Stock Exchange, specializing in machine vision equipment for automotive manufacturing [15] Group 5: Corporate Restructuring and Shareholder Actions - Guokai Microelectronics plans to acquire a 94.37% stake in Zhongxin Integrated Circuit (Ningbo) through a combination of stock issuance and cash payment, aiming to enhance its manufacturing capabilities [16] - Wenta Technology announced that a major shareholder plans to reduce its stake by up to 3% through block trading and centralized bidding [17] - Jingfang Technology disclosed plans for a shareholder to reduce its stake by up to 2% through block trading, adhering to relevant regulations [18]

Core Viewpoint - The article discusses the ongoing development and expansion of the "New Energy Vehicles Going to the Countryside" initiative, highlighting its increasing participation, diverse vehicle offerings, and the importance of policy support in stimulating rural markets for electric vehicles [3][4][5]. Group 1: Participation and Vehicle Offerings - The 2023 initiative saw participation from 39 brands and 52 models, with projections for 2025 indicating 33 mainstream brands and 124 models [3]. - The price range of participating models has expanded significantly, covering 50,000 to 500,000 yuan, with a variety of vehicle types including sedans, SUVs, pickups, and MPVs [3][4]. - Notable brands such as BYD, Changan, and new energy vehicle startups like Li Auto and NIO are actively participating, with a trend towards higher-end models entering the rural market [5][6]. Group 2: Policy Support and Market Dynamics - The initiative benefits from coordinated policies, including tax reductions and local purchase incentives, which enhance the overall discount for consumers [4]. - The initiative has successfully activated the market, with nearly 15 million vehicles sold over five years, demonstrating its effectiveness in driving industry growth [7][8]. - The penetration of new energy vehicles in rural areas is gradually increasing, as consumer perceptions shift positively through direct experience [8]. Group 3: Market Potential and Challenges - The current market for new energy vehicles is experiencing growth but faces challenges in breaking through existing market share limitations, particularly in lower-tier cities [9][10]. - The potential for growth in the new energy vehicle sector is primarily seen in lower-tier cities and rural areas, where market saturation in high-tier cities is becoming evident [10]. - Key challenges include product adaptability to rural needs and the lack of charging infrastructure, which have been identified as significant barriers to market expansion [11][12]. Group 4: Strategic Initiatives by Companies - Companies are responding to market opportunities by developing products tailored to rural needs, such as Changan's new energy micro trucks designed for agricultural transport [12][13]. - Major players like Li Auto and BYD are focusing on building sales and service networks in lower-tier cities to enhance market penetration [13]. - The overall development of the rural new energy vehicle market requires a comprehensive approach, addressing consumer needs through product design, infrastructure improvement, and financial support [13].

以下文章来源于和讯商业 ，作者徐帅 和讯商业 . 商业世界的故事、逻辑、认知。由"和讯商业"团队出品。 6 月 3 日，工信部等五部门联合启动了今年的新能源汽车下乡活动。 今年已是活动连续开展的第 6 年。过往每年，参与的车型数量都在增加： 2021 年 18 家车企、 52 款车型参与， 2022 年 26 家车企、 70 款车型参与， 2023 年 39 个品牌、 52 款车型参与， 2024 年 41 个品牌、 113 款车型参与。 2025 年参与规模继续提升，首批共有 33 家主流品牌、 124 款车型。 与往年相比，今年车型售价 跨度更大，价格区间覆盖 5 万至 5 0 万元，可选择范围更广，轿车、 SUV 、皮卡甚至 MPV 各种 车型一应俱全。 5 年来，江苏、四川、新疆、西藏、内蒙古等 10 余个省、自治区、直辖市先后举办了 29 场专场活 动、上百场巡游巡展活动；累计发布 9 批次、 400 余款新能源汽车下乡车型， 下乡活动车型累计销 售近 1500 万辆。 除了 车型供给更 丰富 、 2025 年新能源汽车下乡 也体现出了 政策协同更紧密、服务网络更下沉 的 特点。 《通知》中明确要求 ...

以下文章来源于牲产队 ，作者牲产队长 牲产队 . 挣工分，磨洋工，舒服一会儿是一会儿 作者：牲产队长 来源：牲产队 这个 " 新能源汽车 " 下乡，并不是全面推给农民，它 主要面向的是中国广阔的县域经济 ，也就 是真正的下沉市场。这个市场，新能源渗透率很低。越是靠近县城，乡镇的地方，新能源汽车占 比就越低。为什么呢？主要有三个原因： 突然， 新能源汽车要下乡了，不仅大批国产车被囊括其中，特斯拉也被选进去了 。可这不是第 一次推 " 新能源汽车下乡 " 了，去年就推过一次了。怎么今年又推了呢？乡下究竟需不需要新 能源汽车？ 一是，乡下充电网络不健全，出远门不方便 。中国大部分农民家庭，只有一辆车。而且，很多农 民工出去务工，还得开上这唯一的一辆车。可务工地点呢？很可能在另一个城市，甚至另一个省 份。农民并没有长期住在村里，而是为了赚钱养家糊口，全国各地去打工。因此，对很多农民工 而言，电动汽车并不方便。 二是，新能源汽车整体价格比较贵 。 去年搞了一轮 " 新能源汽车下乡 " ，但并没有显著拉高新 能源汽车在乡下的占比，就是因为电动汽车太贵了。很多农民想换，也换不起。但今年就不同 了，价格被打下来了，不仅是 " ...

热轧卷板产业链日报 2025/6/5 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,077 | -20↓ HC 主力合约持仓量(手) | 1579049 | +2936↑ | | | HC 合约前20名净持仓(手) | 140,833 | +12045↑ HC10-1合约价差(元/吨) | 2 | -5↓ | | | HC 上期所仓单日报(日，吨) | 135401 | -900↓ HC2510-RB2510合约价差(元/吨) | 118 | -5↓ | | 现货市场 | 杭州 4.75热轧板卷(元/吨) | 3,210.00 | 0.00 广州 4.75热轧板卷(元/吨) | 3,220.00 | -20.00↓ | | | 武汉 4.75热轧板卷(元/吨) | 3,230.00 | 0.00 天津 4.75热轧板卷(元/吨) | 3,120.00 | -10.00↓ | | | HC主力合约基差(元/吨) | 133.00 | +20.0 ...

各省、自治区、直辖市及计划单列市工业和信息化主管部门、发展改革委、农业农村（农牧）厅 （局、委）、商务主管部门、能源主管部门： 为贯彻落实党中央、国务院关于乡村全面振兴和碳达峰碳中和决策部署，加快补齐乡村地区新能 源汽车消费使用短板，构建绿色低碳、智能安全的乡村居民出行体系，工业和信息化部、国家发 展改革委、农业农村部、商务部、国家能源局组织开展2025年新能源汽车下乡活动。 一、活动主题 关于开展2025年新能源汽车下乡活动的通知 工信厅通装函〔2025〕219号 导 读 工业和信息化部、国家发展改革委、农业农村部、商务部、国家能源局等五部门近日联合 印发通知，部署开展2025年新能源汽车下乡活动。活动主题为"绿色、低碳、智能、安全 ——赋能新农村，畅享新出行"，将选取满足乡村地区使用需求、口碑好、质量可靠的新能 源车型，开展展览展示、试乘驾驶等活动。组织新能源汽车售后维保服务企业，充换电服 务企业，保险、信贷等金融服务企业协同下乡，持续优化乡村地区新能源汽车应用配套环 境。推动车网互动技术在乡村地区应用，提升乡村绿色发展水平。落实车购税、车船税减 免，汽车以旧换新，县域充换电设施补短板等政策，鼓励车企丰富 ...