倒计时2天 净利润从 2022 年的 2.21 亿元骤降至 2023 年得 1.19 亿元，跌幅近乎 50% ； 2024 年营收勉强触及 2022 年水平，归母净利润却仍停 留在 1.31 亿元，仅为巅峰时期的六成。 针对业绩的大幅跳水，福建德尔给出的解释是受 "行业周期"影响。" 2023 年新能源产品价格暴跌拖累扣非净利润，这是'行业共有因素'。" 福建德尔的新能源电池材料产品主要是六氟磷酸锂，用于生产锂离子电池电解液，最终主要应用于动力、储能等锂电池制造。 客户包括湖州 昆仑、天赐材料、杉杉股份、新宙邦、法恩莱特、亿恩科等。 产品端， 福建德尔 开发系列新型锂盐添加剂以及高性能阻燃添加剂、适宜极低温环境的高性能含氟溶剂等，在建项目包括二氟草酸硼酸锂、 二氟双草酸磷酸锂等新产品。 福建德尔拟建项目包括以双氟磺酰亚胺锂为代表的新型锂盐产品、以六氟磷酸钠为代表的钠盐添加剂、以电子级硫酸锰为代表的锰系新能源材 料、以碳纳米管电池阴极材料为代表的碳材料。 金钠科技总冠名-第八届起点钠电高峰论坛 活动主题： 全链条技术产能跃升 GWH级出货"真"元年 主办单位： 起点钠电、起点研究院（SPIR） 总冠名单位： 金 ...

长安汽车升格为"一级央企"之后，东风集团在资本运作、内部整合方面，也迈出了实质性步伐——东风 集团股份"轻装"离场，岚图汽车港股接棒。 日前，停牌多日的东风集团股份公告重大资本运作计划，方案包括三个互为先决条件的操作步骤：东风 集团股份将旗下新能源汽车子公司岚图汽车分拆，并通过实物分派的方式让现有股东成为岚图汽车的直 接股东，之后岚图汽车将以介绍方式在香港联交所独立上市。与此同时，东风汽车集团旗下全资子公司 东风汽车投资以吸收合并方式，对东风集团股份进行私有化，并从联交所退市。 如果岚图汽车港股成功上市，将继蔚来、小鹏汽车、理想汽车、零跑汽车、小米集团等之后，成为又一 家登陆港股的新能源汽车企业。岚图汽车独立进入港股市场，意味着其将脱离母公司的庇护，直接接受 国际资本市场的检验。 新价值锚点 估值重构是东风集团股份筹划此次资本运作的原因。东风集团股份表示，受汽车行业转型及市场竞争加 剧等因素影响，公司的整体业绩不达预期。"鉴于我国新能源汽车产业已成为国民经济战略性支柱产 业，发展前景广阔，东风公司拟通过分派、合并及上市进一步整合优质资源向新兴产业集中，实现估值 重构。" 东风集团股份是一个包含商用车、乘用车、 ...

中银证券指出，预计2025年国内新能源汽车销量有望保持高增，带动电池和材料需求增长。碳酸锂价格 近期上涨明显，有望带动相关环节盈利修复，建议重点关注电池、正极材料环节。新技术方面，固态电 池在新能源汽车和储能应用上均取得成果，产业化趋势明确，后续关注固态电池相关材料和设备企业验 证进展。 新能车ETF(515700)，场外联接(平安中证新能源汽车ETF发起联接A：012698；平安中证新能源汽车 ETF发起联接C：012699；平安中证新能源汽车ETF发起联接E：024504)。 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。 8月20日，乘联分会发布数据，8月1-17日，全国乘用车市场零售86.6万辆，同比去年8月同期增长2%， 较上月同期增长8%；今年以来累计零售1,361.1万辆，同比增长10%。8月1-17日，全国乘用车新能源市 场零售50.2万辆，同比去年8月同期增长9%，较上月同期增长12%，全国乘用车新能源市场零售渗 ...

在下游锂电材料端，华友钴业大圆柱电池材料实现规模化量产，与亿纬锂能（300014）、宁德时代 （300750）、中创新航等领军企业达成深度合作。固态电池材料实现产业链上下游联合开发，与孚能科 技、卫蓝新能源、清陶、金羽等重点客户达成战略协同，在固态、半固态电池材料研发、量产、市场开 拓等方面展开全方位合作。 公司判断，得益于新能源汽车产业的发展，锂电正极材料市场保持稳健增长，但受补贴退坡、钴镍材料 价格波动、磷酸铁锂电池技术革新等因素综合影响，磷酸铁锂主导了中低端车型市场。不过，高端车型 对高能量密度、长续航电池需求明确，三元材料(尤其是高镍三元)或仍是当前最优选择。 华友钴业在财报中指出，未来，随着镍钴锂等核心金属原料价格回落趋稳，三元电池和磷酸铁锂电池的 价差将逐步缩小，加之46系列圆柱电池装车量产和固态电池逐渐进入产业化阶段，以及人形机器人、 eVTOL低空飞行器等新兴市场对高能量密度的追求，三元材料的市场份额有望回升。 8月17日晚间，华友钴业（603799）发布2025年半年报。报告显示，华友钴业上半年营业收入为371.97 亿元，同比增长23.78%；归母净利润为27.11亿元，同比增长62.26 ...

Core Points - The China Securities New Energy Vehicle Industry Index rose by 2.22% to 2233.36 points, with a trading volume of 56.581 billion yuan [1] - The index has increased by 6.73% over the past month, 6.70% over the past three months, and 12.35% year-to-date [1] - The index includes 50 listed companies involved in various aspects of the new energy vehicle industry, reflecting the overall performance of leading companies in this sector [1] Index Composition - The top ten weighted companies in the index are: CATL (10.04%), Huichuan Technology (9.23%), BYD (8.03%), Changan Automobile (4.73%), Sanhua Intelligent Control (4.71%), Huayou Cobalt (4.44%), EVE Energy (4.23%), Tianqi Lithium (3.34%), Ganfeng Lithium (3.23%), and Gree Environmental (2.53%) [1] - The index is primarily composed of companies listed on the Shenzhen Stock Exchange (83.86%) and the Shanghai Stock Exchange (16.14%) [1] Industry Breakdown - The industry composition of the index shows that 58.17% is in the industrial sector, 22.85% in consumer discretionary, 17.81% in materials, and 1.17% in information technology [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Public funds tracking the new energy vehicle sector include several ETFs from Ping An and Huatai-PineBridge [2]

注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 （文章来源：每日经济新闻） 华安证券指出，新能源汽车行业8月锂电排产稳步提升，随着下游正极材料及电芯企业排产计划回暖， 市场采购需求呈现复苏态势，碳酸锂价格受供需改善影响出现大幅抬升。产业链方面， N型致密料小幅 上涨，硅片、电池片及组件价格整体持稳。氢能产业加速发展，国家支持技术研发，制氢、储运及应用 环节成为重点。储能领域国内采招数据维持高景气，欧洲大储招标超预期，户储需求持续复苏，独立储 能占比显著提升。风电领域沿海多地推进超GW级海风项目，开发节奏明显提速。 新能源车ETF（159806）跟踪的是CS新能车指数（399976），该指数从沪深市场中选取涉及新能源汽车 产业链上游材料、中游零部件及下游整车等业务的上市公司证券作为指数样本，以全面反映中国新能源 汽车产业相关上市公司的整体表现。 没有 ...

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]

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].

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） ...