7 月 15 日晚间，上海威尔泰工业自动化股份有限公司（以下简称" *ST 威尔"）发布公告称，公司拟以支付现金的方式， 向 紫江企业 、宁 德新能源 、 长江晨道（ 湖北 ） 等多名交易对方，购买上海紫江新材料科技股份有限公司（以下简称 "紫江新材"） 51.00% 的股份 ， 交 易价格为 5.46 亿元。 | 项目 | 名 称 上海紫江企业集团股份有限公司 | | --- | --- | | | 长江晨道(湖北)新能源产业投资合伙企业(有限合伙) 宁德新能源科技有限公司 | | 支付现金购买资产 | 深圳市惠友创嘉创业投资合伙企业(有限合伙) | | 交易对方 | 宁德蕉城上汽产业升级股权投资合伙企业(有限合伙) | | | 上海军民融合产业股权投资基金合伙企业(有限合伙) | | | 贺爱忠、王虹、郭峰、秦正余、高军、沈均平、倪叶、应自成、 | | | 邬碧海、徐典国、武永辉、邵旭臻、刘宁、邱翠姣、龚平、陈 | | | 涛、何治中、胡桂文、顾瑛、陈玮、张卫、高贤、谢锋峰 | 本次交易完成后，威尔泰将成为紫江新材的控股股东，同时将顺利切入锂电池材料行业，公司后续业绩有望迎来新的增长动力。 交易后，紫江企 ...

在第一代产品之后，蜂巢能源的路线图规划 十分清晰 ： 计划于 2026 年推出能量密度提升至 360wh/kg 的第二代半固态电池 ，除汽车外，还将重点服务于低空飞行器、机器人等新兴市场。 摘要 率先跨过固态电池GWh级量产的关键门槛。 蜂巢能源董事长杨红新今日透露， 2025 年四季度将在量产线试生产半固态电池。 此举将使蜂巢能源在下一代电池的商业化竞赛中，率先跨过 GWh 规模的关键门槛。 公司为第一 代产品设定的产能规划为 2.3GWh 。 不仅如此， 蜂巢能源 已成功锁定一家 国际车企 及一家央企 eVTOL 的定点项目， 显示其技术已 获关键客户的商业化验证。 这项计划的核心，是在全固态电池技术成熟前，以成本更低、产线兼容性更高的半固态方案抢占市 场先机。 杨红新对此直言不讳： " 我们第一代（半固态电池）的能量密度在软包层面可以做到 300wh/kg ，虽然不是特别高，但是成本非常低。 " 更长远的目标， 则是瞄准 400wh/kg 的第一代全固态电池， 主攻 eVTOL 和高端汽车领域。 此番突破的背后，是蜂巢能源在技术路径上的独特选择与深厚积累。公司通过创新的隔膜技术和优 化的半固态 电解质 ...

智通财经7月22日电，记者独家获悉，据蜂巢能源董事长杨红新透露，2025年四季度，该公司将在 2.3GWh的半固态量产线，试生产其第一代半固态电池，容量为140Ah。这也是蜂巢能源将为宝马MINI 下一代车型供应的半固态电池，拟于2027年大规模供应。据介绍，其采用蜂巢能源独创的隔膜转移技 术，可实现较大规模低成本量产。（记者 曾乐） 独家| 蜂巢能源拟Q4在量产线试生产半固态电池 ...

摘要 半固态电池 技术突破或率先重塑汽车市场格局 固态 电池正以一种 出 人意料的方式进入主流 动力 市场。 最新消息显示， 上汽集团为其 MG 品牌旗下一款售价仅 10 万人民币级别的纯电车型 MG4 ，搭 载新型半固态电池。 此举打破了前沿技术通常率先应用于 高端 车型的惯例，直接将技术竞争的战火引向了 对 成本最 为敏感的大众市场。 这一决策的底气，源自其长期合作伙伴 —— 固态电池独角兽企业清陶能源在第二代半固态技术上 取得的实质性进展。 据公开信息，该电池的固态化程度实现关键突破，电解液含量已降至 5% 。这直接带来了两大核 心性能的提升：安全与低温表现。 在安全性方面， 该电池 通过了 "360 度针刺测试 " 。这意味着从多个角度对电芯进行破坏性穿 刺后，电池均未发生起火或爆炸 。 在低温性能上，数据显示，在 -7℃ 的环境下，搭载该电池的车型续航达成率比传统磷酸铁锂电池 高出 约 13% ，极寒放电功率提升超过 20% 。这直接回应了电动车在冬季续航大幅衰减的市场 核心痛点。 与此同时，其基础性能指标 的 同样引人注目：系统能量密度据称可达 400Wh/kg ，支持 12 分 钟快速充电 40 ...

摘要 阿联酋10亿美元采购中国eVTOL，软包+半固态电池赢关键一票 本周， 阿联酋企业 Autocraft 与中国 eVTOL 制造商时的科技（ TCab ）签署了一项重大采购协 议。 Autocraft 将采购 350 架时的科技 E20 型 eVTOL ，订单总金额高达 10 亿美元 （ 约合人民 币超 70 亿元 ） 。 此举旨在推动 E20 在包括中东、北非在内的广阔市场，进行低空旅游与空中出行的商业化落地。这 项交易不仅标志着中国高端制造出海迈出重要一步，更将供应链上的一家核心企业 —— 孚能科技推 向台前。 孚能科技已公开确认，其将作为独家供应商，为时的科技 E20 机型配套其第二代半固态动力电池。 这一定位凸显了电池技术在 eVTOL 产业中的核心地位。 相较于成熟的电动汽车市场， eVTOL 对电池的能量密度、瞬间放电倍率及安全性的要求都更为严 苛，这构成了极高的技术壁垒和产品附加值。 根据孚能科技披露的数据， 其第二代半固态电池采用高镍三元正极与掺硅负极的组合，并引入了氧 化物 / 聚合物 复合 固态电解质。 其 能量密度已达到 330 - 350Wh/kg ，循环寿命超过 4000 次。 ...

Core Viewpoint - Shanshan Co., Ltd. has significantly improved its performance in the first half of 2025, with a projected net profit increase of 810.41% to 1265.61% year-on-year, driven by its core businesses in negative materials and polarizers [2][4]. Financial Performance - The expected net profit for the first half of 2025 is between 160 million to 240 million yuan, while the non-recurring net profit is projected to be between 130 million to 195 million yuan, reflecting a year-on-year increase of 443.79% to 715.68% [2]. - The company's financial expenses and losses from equity investments in subsidiaries are expected to impact profits by 150 million to 170 million yuan, indicating that the core business performance would be even stronger without these factors [2][3]. Business Segments - The negative materials and polarizer segments are expected to contribute a combined net profit of 350 million to 450 million yuan, highlighting their importance to overall profitability [4]. - Shanshan is a pioneer in the lithium battery materials sector, focusing on artificial graphite technology, and has maintained a leading position in the industry through cost control and customer structure advantages [4]. Market Trends - The recovery of the new energy vehicle supply chain since 2024, along with increased demand in the energy storage sector, has led to a rebound in both prices and shipments of negative materials [5]. - The company has seen a significant increase in orders from major manufacturers, with a more than 40% quarter-on-quarter increase in shipments in Q2 [5]. Production Capacity - Shanshan has a total planned production capacity of 600,000 tons across its bases in Inner Mongolia, Sichuan, and Yunnan, with the Yunnan facility being the largest integrated negative material base globally [5][6]. - The company is also developing a 100,000-ton negative material base in Finland to cater to European customers and is collaborating with Moroccan firms to develop natural graphite projects [6]. Cost Management - The graphite processing stage accounts for approximately 36% of production costs, and Shanshan has achieved significant cost reductions through technological innovations [7]. - The company has developed a new fixed crucible furnace process to enhance efficiency and reduce costs, with the actual production capacity of the crucible furnace in Sichuan reaching 150,000 tons [8][9]. Product Development - Shanshan is expanding its product offerings with high-energy density 6C ultra-fast charging negative materials and 6C+ extreme fast charging materials, which have been supplied to leading domestic clients [10]. - The company has also developed silicon-based negative materials, with production capabilities established and products certified by major clients [11][12]. Additional Business Insights - The polarizer business, bolstered by the acquisition of LG Chem's assets, has positioned Shanshan among the top four globally in market share, with a focus on high-end product development [12]. - Despite the bankruptcy restructuring of its controlling shareholder, Shanshan emphasizes that its business operations remain unaffected, and future performance will depend on its ability to innovate and expand its customer base [12].

2025 年 7 月 11 日，由起点锂电、起点 固态电池 、起点两轮车及换电主办 ， 以 "换电之城 智慧两轮"为主题 的 2025 第五届起点两轮车 换电大会暨轻型动力电池技术高峰论坛 在 深圳宝安登喜路国际酒店正式举办。 本次论坛聚焦两轮车及换电、两轮车锂电、两轮车钠电、高倍率、超快充、新材料、新工艺等前沿技术，进行深度探讨和思维碰撞。论坛 现场 300+ 两轮车换电及电池细分重量级企业， 600+ 企业高层汇聚共论行业发展。 在下午两轮车电摩及电池技术专场， 诺达智慧 产品总监 黄毅彪发表演讲，分享主题 ： 多极耳及半固态电池的技术发展。 以下为演讲实录： 各位领导，尊敬的同行精英们，下午好！ 我给大家分享关于多极耳及半固态电池的技术发展。 经过多年的累积和沉淀，在以圆柱型锂电池为中心的新能源领域基本完成了全产业链的布局，上游延伸到矿产原材料关键环节，下游延伸至备用 电源、户储、两轮车、资源回收等产业，形成了全产业链一体化的事业蓝图。 这是公司的首席科学家和总经理，张瑞波博士是首席科学家、中科院博士，他主要是对新型材料的前端技术研究以及推进，包括诺达智慧半固态 电池的材料相关研究。江国龙总主要是根据张 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5] Core Views - The company is expected to achieve rapid growth in H1 2025, with projected revenue between 2.68 billion to 2.80 billion yuan, representing a year-on-year increase of 16% to 21%. The net profit attributable to shareholders is expected to be between 90 million to 102 million yuan, showing a significant year-on-year growth of 228% to 272% [1][3] - The company's Q2 2025 performance indicates a continuous improvement in capacity utilization and profitability, driven by domestic consumption policies and strong demand in portable energy storage and overseas commercial sectors [2] - The company is actively investing in R&D, focusing on advanced technologies such as silicon anodes, steel shell stacking, and solid-state batteries, which positions it well for future growth [3] Summary by Sections Financial Performance - For H1 2025, the company anticipates revenue of 26.8-28.0 billion yuan, with a net profit of 0.90-1.02 billion yuan, and a non-GAAP net profit of 0.70-0.82 billion yuan, reflecting substantial growth rates [1] - In Q2 2025, the expected revenue is 14.55-15.75 billion yuan, with a net profit of 0.58-0.70 billion yuan, indicating a year-on-year growth of 142%-192% [1][2] Capacity Utilization and Market Demand - The company has seen a steady increase in capacity utilization in Q2 2025, supported by the domestic consumption electronics upgrade policy and strong demand in the portable energy storage market [2] - The company has successfully expanded its customer base in the AI sector, with applications in AI PCs, headphones, glasses, and toys, which is expected to drive revenue growth in H2 2025 [2] R&D and Technological Advancements - The company is prioritizing R&D investments in key areas such as high-voltage cathode materials and solid-state battery technologies, which are crucial for enhancing product safety and performance [3] - The company has completed validation of high-safety solid-state batteries and is actively engaging with clients for prototype designs and sample testing [3]

Core Viewpoint - The article highlights the advancements and new product launches by Lishen Battery in the cylindrical battery sector, emphasizing their focus on high-performance batteries for various applications, including electric tools and two-wheeled vehicles [3][4][5]. Group 1: Event Information - The 2025 Fifth Start Point Two-Wheeled Vehicle Battery Swap Conference and Lightweight Power Battery Technology Summit will be held on July 11, 2025, at the Shenzhen Baoan Dingshi International Hotel [2]. - The event is sponsored by various companies in the battery and electric vehicle sectors, indicating strong industry interest and collaboration [2]. Group 2: Product Launches - Lishen Battery has launched six new cylindrical battery models, including three from the 21 series, one from the 46 series, and two from the 18 series, showcasing their commitment to innovation [3][4]. - Key features of the new products include: - 21700 40PT-4.0Ah: Fast charging to 80% in 7 minutes, 1000 cycles, aimed at electric tools [3]. - 21700 50PT-5.0Ah: Fast charging to 80% in 9 minutes, 250A pulse discharge, for electric motorcycles and tools [3]. - 21700 55PT-5.5Ah: Energy density of 295 Wh/kg, supports 8C continuous discharge, for various advanced applications [3]. - 46120-55Ah: Energy density of 330 Wh/kg, 1500 cycles, designed for eVTOL and humanoid robots [4]. - 18650 20PT-2.0Ah: Low internal resistance, 1000 cycles, for electric tools [4]. - 18650 25PT-2.5Ah: Fast charging to 80% in 10 minutes, 1000 cycles, for multiple applications [4]. Group 3: Production Capacity and Expansion - Lishen Battery's Suzhou cylindrical battery production base has recently opened, with a total investment of approximately 2.8 billion yuan, featuring five intelligent production lines [4][5]. - The first phase of the production base has a capacity of 4 GWh, while the second phase, expected to be completed by the second half of 2025, will add another 7.3 GWh of capacity [5]. Group 4: Market Strategy - Lishen Battery has been active in the two-wheeled vehicle market since 2019 and plans to expand into Southeast Asia, leveraging energy storage products as an entry point [6]. - The company is also focusing on solid-state battery technology, with new products featuring solid-state electrolytes, indicating a strategic move towards advanced battery technologies [6][7].

Core Insights - The new energy sector, including lithium batteries, photovoltaics, and wind power, is experiencing significant activity on the STAR Market, with the New Energy ETF (588960) rising by 3.92% and the Lithium Battery ETF (561160) increasing by 2.64% [1] - Major companies in the New Energy ETF, such as Daqo Energy and Trina Solar, have seen substantial gains, with Daqo Energy rising over 10% and Trina Solar increasing more than 6% [1] - The central government is intensifying efforts to regulate disorderly competition, focusing on improving product quality and facilitating the orderly exit of outdated production capacity [1] Industry Developments - A joint notice from the National Development and Reform Commission and other departments emphasizes the scientific planning and construction of high-power charging facilities, aiming for over 100,000 such facilities nationwide by the end of 2027 [1] - The focus will be on local economic development, the promotion of new energy vehicles, and the distribution of electric power resources, with an emphasis on "instant charge and go" scenarios [1] - Analysts indicate that semi-solid-state batteries are beginning to scale up, while solid-state batteries are expected to see small-scale deployment by 2027 and larger applications in energy storage post-2030 [1] ETF Information - The New Energy ETF (588960) closely tracks the STAR Market New Energy Index (000692.SH), with daily price fluctuations potentially reaching 20% [2] - The index comprises 50 large-cap stocks from the solar, wind, and new energy vehicle sectors, reflecting the overall performance of representative companies in the new energy industry on the STAR Market [2]