《投资合作协议》生效后，公司及淄博煦成按协议约定完成了一期出资，积极推动迪纳新材业务发展， 以期促进公司创新发展与转型升级。现因合作各方在履行《投资合作协议》过程中存在重大分歧，同时 结合迪纳新材相关产品业务实际开展情况，继续合作存在较大的不确定性。经合作各方协商一致，同意 公司、淄博煦成分别与睿迪新材（乙方1）、迪纳新材（乙方2）、石爱斌（乙方3，乙方1、乙方2、乙 方3合称"乙方"）签署《投资合作协议》之解除协议（简称《解除协议》），并依《解除协议》约定处 理后续事宜。 本次签署《投资合作协议》之解除协议事项系公司结合实际经营发展需要做出的审慎决策，后续将按 《解除协议》约定收回初始投资款；签署解除协议后，公司将继续自主研究开发新能源电池粘结剂产 品。协议解除事项不会影响公司电池粘结剂产品的继续开发，也不影响公司的正常生产经营活动，不存 在损害公司及全体股东特别是中小股东利益的情形。 格隆汇1月9日丨瑞丰高材(300243.SZ)公布，公司于2023年7月26日召开第五届董事会第十二次会议、第 五届监事会第十一次会议，审议通过了《关于增资广东迪纳新材料科技有限公司暨关联交易的议案》。 公司与淄博煦成企业管 ...

国内独立储能市场实现超预期增长加之多地出台容量电价补贴政策，带动储能电站IRR收益率提升（普 遍达到6-12%）；欧洲大储和工商业储能需求增加及美国受数据中心（AIDC）配储等需求是拉动国内 储能需求增长的关键。 动力领域则主要受新能源汽车增长（增速约为5~10%）、单车带电量提升（相较于2025年有望继续提升 5~10%）、新能源商用车增长带动（我国新能源商用车渗透率从2024年的20.38%提升至2025年1-11月的 25.7%，其中11月单月渗透率高达33.9%，且在以旧换新等政策驱动下，渗透率仍在快速提升，预计 2026年部分细分市场渗透率有望突破40%）。 2024~2028中国锂电池出货量及预测（GWh） 回顾2025年，锂电池行业历经深度回调后的强势复苏，形成了以"供需错配、反内卷、储能爆发、技术 迭代、产业链新一轮扩产、满产满销、出海加速、卷价值等"为核心的关键词矩阵，本轮行业热度增长 与2020年前后的行业的发展逻辑相比已发生深刻重塑，预计这一趋势将持续顺延至2027年后。 2025年行业订单持续向头部企业集聚导致大厂产能频频告急，中小企业产能出现一定闲置，供需错配成 为行业的核心矛盾；在 ...

Investment Expansion - CATL has signed an investment cooperation agreement for a new 30GWh power and energy storage battery production base in Guizhou, expanding its existing facility which already has a 30GWh capacity [1] - Capchem plans to invest up to 200 million RMB in Poland to enhance its lithium-ion battery materials production capacity by 50,000 tons per year through technical upgrades [2] - Capchem also announced a project in Saudi Arabia with an investment of approximately 260 million USD to produce 200,000 tons of carbonate solvent and 100,000 tons of ethylene glycol [3] - Hanchuang has launched a 4.8 billion RMB project in Ningxia to produce 130,000 tons of lithium manganese iron phosphate annually, enhancing the local battery materials industry [4] Production Commencement - CATL's subsidiary, Yichang Bangpu, has officially launched a new 450,000 tons per year lithium iron phosphate project, achieving a record of signing, starting, and completing the project within the same year [6][7] Major Projects and Developments - The largest independent energy storage demonstration project in China, with a capacity of 500,000 kW and 3 million kWh, has been completed in Inner Mongolia [8][9] - The largest all-vanadium flow battery energy storage station in China has been put into operation in Xinjiang, with a rated power of 200,000 kW and a storage capacity of 1 million kWh [10] Mergers and Acquisitions - Salt Lake Co. plans to acquire a 51% stake in Wenkang Salt Lake for 4.605 billion RMB to enhance its position in the salt lake industry [12] - Shengxin Lithium Energy intends to acquire a 30% stake in Qicheng Mining for 2.08 billion RMB, gaining full control over the company [13] Financing Activities - Taiblue New Energy has completed a financing round of over 400 million RMB to accelerate the production of solid-state batteries [14] - CATL is set to invest 2.563 billion RMB in Jiangxi Shenghua to gain a controlling stake in the company [15] Company Orders - CATL has signed contracts for 55 electric cargo ships, marking a significant milestone in the electric shipping industry [18] - LG Energy Solution has lost contracts worth 39 trillion KRW due to a client exiting the battery industry, impacting its revenue significantly [19]

12月26日，总投资48亿元的珩创年产13万吨磷酸锰铁锂（LMFP）正极材料生产项目落地宁夏银川经开区。 该项目分两期建设， 一期规划建设年产2.5万吨磷酸锰铁锂产线 ，达产后预计可实现年产值不低于10亿元，新增就业超百人。项目全部建成 后将进一步完善园区新型电池材料产业链条，推动产业向高端化、绿色化、智能化方向升级。 据悉，江苏珩创纳米科技有限公司成立于2022年2月，专业从事新能源电池核心材料的研发、生产和销售。公司现有主营产品为锂电正极材料 磷酸锰铁锂，当前主要客户为头部电动二轮车及新能源汽车的动力电池生产商等，未来将广泛应用于新能源汽车、电动两轮车、消费电子及储 能系统等领域。 产能方面，2022年底，公司一期基地年产5000吨锂电正极材料磷酸锰铁锂产线正式投产，同时竣工2000m2研发中心；2023年3月，公司正 式量产出货；到2023年底，公司一期基地建成1.5万吨磷酸锰铁锂产能。目前，公司正积极推进3万吨产能扩建规划，预计于2026年底实现 投产，计划通过建设智能化生产基地、优化产线布局，进一步巩固和提升在LMFP领域的创新优势和规模优势。 今年以来，国内多个磷酸锰铁锂项目陆续推进：甘肃白银时代 ...

2025是锂电增长新周期的起点，更是全球大决战的开始，这一点已是行业共识，至少此刻韩系电池企业的"反攻"更为猛烈。 以LG新能源为例，作为宁德时代昔日最大的竞争对手，回顾其2025，正在 失守与进攻之间寻找平衡点。 01 在市场份额上， LG新能源已持续被挤压。数据显示，2025年1-10月 LG新能源装机量为 86.5GWh， 同比仅增长了12.8%，远低于行业的 35%， 市占率 跌至10%以下，下降至9.3%。同期 宁德时代市场份额达到了38.1%，比亚迪达到了 16.9%，位居其后的中创新航也达到了 4.7%。 从排名来看， LG新能源在与宁德时代较量之际已经掉队。2022年4月， LG新能源 全球动力电池装机量被比亚迪首超，此后你来我往，直至 目前 LG新能源已稳定位于比亚迪之后，排名第三。值得注意的是， LG新能源排名优势进一步"式微"，今年10月单月， 中创新航全球动力 装机量超越LG新能源首次跃升至全球第三位。 动力市场失速，全球第三" 岌岌可危 " 曾经手握技术壁垒的电池霸主，正深陷动力修罗场。 12月25日， LG新能源出售 美国俄亥俄州的一座厂房及相关资产给 本田旗下美国子公司的消息，引 ...

博力威(688345.SH)发布公告，公司拟向特定对象发行A股股票，募集资金总金额不超过6.5亿元(含本 数)，本次募集资金总额在扣除发行费用后的净额将用于：全极耳大圆柱多场景轻型动力电池智能制造 项目、AI驱动的新能源电池可靠性分析与研发能力提升项目、补充流动资金项目。 ...

人民财讯12月19日电，博力威(688345)12月19日公告，公司拟向特定对象发行股票募集资金总金额不超 过6.5亿元，将用于全极耳大圆柱多场景轻型动力电池智能制造项目、AI驱动的新能源电池可靠性分析 与研发能力提升项目及补充流动资金项目。 ...

财务方面，于2022年度、2023年度、2024年度及2025年1-6月，有研复材营业收入分别约为3.97亿元、6.01亿元、6.37亿元、3.98亿元人民币；同期， 净利润分别为9772.15万元、约2.34亿元、约1.53亿元、9370.62万元人民币。 | 项目 | 2025.6.30/ | 2024.12.31/ | 2023.12.31/ | 2022.12.31/ | | --- | --- | --- | --- | --- | | | 2025年1-6月 | 2024 年度 | 2023 年度 | 2022 年度 | | 资产总额(万元) | 204.911.81 | 179.964.98 | 157.048.78 | 135.646.09 | | 归属于母公司所有者权益 | 66.562.99 | 56.754.62 | 42.869.69 | 18.193.91 | | (万元) | | | | | | 资产负债率(母公司) | 65.35% | 68.23% | 72.55% | 86.59% | | 营业收入(万元) | 39.770.73 | 63.659.48 | 60.059.6 ...

Core Viewpoint - The article discusses the rapid growth and strategic developments in the lithium iron phosphate (LFP) battery market, highlighting the increasing demand and the competitive landscape, particularly focusing on the actions of Rongbai Technology in acquiring Guizhou Xinren to enhance its LFP production capacity. Group 1: Market Trends and Developments - The LFP battery market is entering a new cycle, with LFP power battery installation maintaining over 80% market share and replacing ternary batteries in various segments [4] - In October 2025, China's LFP exports reached a record high of approximately 5,746.87 tons, a 77% increase month-on-month and a 1,759% increase year-on-year [5] - The average export price of LFP in October was $5,192.37 per ton, showing a slight increase of about $60.77 from September [5] Group 2: Rongbai Technology's Strategic Moves - Rongbai Technology announced plans to acquire a 54.9688% stake in Guizhou Xinren for 342 million yuan and invest an additional 140 million yuan for capital increase [7] - Post-acquisition, Rongbai will hold 93.2034% of Guizhou Xinren, which will become a subsidiary and included in the consolidated financial statements [8] - Guizhou Xinren has a current production capacity of 60,000 tons/year for LFP and possesses rapid expansion potential, which aligns with Rongbai's strategy to enhance its LFP technology and production capacity [13] Group 3: Financial Performance and Market Position - Guizhou Xinren reported a revenue of 82.15 million yuan in 2024, with a net loss of 46.81 million yuan, and for the first eight months of 2025, revenue was 14.22 million yuan with a net loss of 48.09 million yuan [11][12] - Despite the overall increase in LFP demand, many leading companies in the sector are facing financial pressure, with Rongbai's acquisition seen as a strategic move to quickly scale up LFP production [13] - The global demand for LFP is expected to grow significantly, with projections indicating that by 2035, global new energy battery shipments will reach 13,090 GWh, a 419% increase from 2025 [17] Group 4: Competitive Landscape and Future Outlook - Rongbai Technology is diversifying its product offerings, covering a range of materials from ternary materials to sodium-ion and solid-state battery materials, establishing a comprehensive portfolio [20] - The company is also expanding its international presence, with plans to establish a LFP production line in Poland, complementing its existing projects [17] - The competitive landscape in the LFP market is intensifying, with numerous players entering the field, but Rongbai's strategic acquisitions and technological advancements position it favorably for future growth [18][21]

光期研究 2026 年新能源品种 策略报告 光大期货研究所 2025 年 12 月 2026 年度策略报告 目录 碳酸锂：顺锂成章 否极泰来 ..................... 2 工业硅&多晶硅：同心合力 硅来运转 ..... 32 请务必阅读正文之后的免责条款部分 EVERBRIGHT FUTURES 1 2026 年度策略报告 碳酸锂：顺锂成章 否极泰来 有色分析师：朱希 年报摘要： ➢ 2025 年行情回顾： 2025 年碳酸锂价格"先抑后扬、底部抬升、震荡上行"。1 月，政策延续利好消费，需 求虽进入淡季，但受节前备货需求增加带动价格上涨。2-6 月中旬，锂矿和锂盐价格螺旋式 下跌，期货价格两次探底 5.8 万元/吨。6 月中旬-8 月，基本面边际转变，"反内卷"政策刺 激，期货价格"触底反弹"，波动率增加。9 月至今，需求超预期，股商共振，碳酸锂期货价 格涨超 10 万元/吨。在今年大起大落的行情中，仓单库存和持仓量的情况也同样值得关注。 ➢ 2026 年供需格局： 供给：锂资源供应仍在持续增加，利润空间走扩或使项目扩张加速。2026 年预计全球锂 资源供应同比增长 29%至 214.2 ...