记者丨 邓浩 在全球绿色转型与数字基建双重浪潮推动下，铜正从传统大宗商品跃升为驱动新能源科技和 AI 发展的关键原材料。然而，新一轮铜业超级周期带来的不仅是价格机遇，更是对资源企业全链 条运营能力的极限考验 —— 从极端环境下的设备可靠性维系，到多元文化背景下的社区关系治 理，再到碳约束时代的全流程能效管理，任何一个环节的脆弱性都可能成为海外资产的 " 致命 断点 " 。 全球工业设备维护领域对这一挑战的认知已达成共识。比如，深耕全球工业润滑解决方案百余 年的埃克森美孚，就指出 " 在极端工况下，设备连续稳定运转是海外矿山运营的生命线。高海 拔、强粉尘等环境对设备润滑方案提出特殊要求，需要基于实时数据的预防性维护策略，这些 都是保障出海业务成功的关键 " 。 以此作为解读中国矿业企业出海进阶路径的分析框架，我们发现，以市场化方式深度参与全球 铜资源博弈的五矿资源，正是这一 " 系统韧性 " 命题中国样本的生动演绎。 秘鲁安第斯山脉的高原上，巨型矿卡在拉斯邦巴斯铜矿的矿坑中往复穿梭，这里年产铜精矿含 铜约40万吨，产值占整个秘鲁GDP近1%。而在一万七千公里外的港交所，五矿资源的股价曲 线正随着国际铜价一路攀升 ...

吴锋是我国新能源科技战略发展的核心推动者，曾作为首席科学家连续三期承担国家"973计划"新型二 次电池项目，并牵头多项国家重大科研任务。他在镍氢电池和锂离子电池领域取得系统性开创性成就， 为我国动力电池、储能电池及新能源汽车技术的自主创新与产业化发展作出了重要贡献。他曾主持创建 我国第一个镍氢电池中试基地和第一条连续自动化生产线。 吴锋院士的遗体告别仪式定于2026年1月4日上午9时在八宝山殡仪馆东礼堂举行。 凤凰网科技讯 12月29日，北京理工大学发布讣告，中国工程院院士、我国绿色二次电池与能源材料领 域奠基人之一、北京理工大学杰出教授吴锋同志，因病医治无效，于2025年12月29日在北京逝世，享年 74岁。 ...

Group 1 - The establishment of Times Qiji New Energy Technology (Zhanjiang) Co., Ltd. has been reported, with a registered capital of 5 million yuan [1] - The company's business scope includes research and development of emerging energy technologies, sales of new energy vehicle battery swap facilities, online energy metering technology development, contract energy management, and battery sales [1] - Times Qiji New Energy Technology (Zhanjiang) is wholly owned by Times Qiji New Energy Technology (Guangzhou) Co., Ltd., which is a subsidiary of CATL (Contemporary Amperex Technology Co., Ltd.) [1]

彭刚表示，清华大学始终坚持以服务国家战略为导向，在"十五五"规划谋篇布局的关键时期，深化校企 合作、开展有组织的科研攻关，是突破电池领域关键核心技术、服务国家高水平科技自立自强的重要途 径。希望联合研究中心能够面向国家能源安全与绿色转型的重大战略需求，充分融合清华大学在前沿基 础研究方面的优势与赛力斯在产业实践中的丰富经验，力争在下一代电池技术体系中实现系统性突破， 为我国新能源汽车产业高质量发展与现代化产业体系构建贡献清华力量。 张兴海表示，联合研究中心的揭牌标志着双方合作进入了深度融合、协同创新的新阶段，承载着双方共 同的期待和对产业未来的深刻思考。希望联合研究中心能够建设成为电池及安全技术的"攻坚高地"、创 新成果的"转化枢纽"以及高端人才的"培育基地"，为新能源汽车产业发展和动力电池技术的持续进步提 供坚实支撑。 欧阳明高介绍了中心成立的战略考量与发展路径。他指出，历经十余年跨越式发展，中国新能源汽车产 业正从市场驱动迈向技术驱动的全新阶段。在此关键时期，中心成立的使命正是为了回归技术本源，破 解行业"内卷"困局，通过为下一代电池树立新标杆来确立持久优势。中心将依托清华大学在电池安全与 人工智能领域的 ...

Core Viewpoint - The company is involved in a minor stake in a robotics-related project and is currently undergoing a restructuring process, with future disclosures to be made in accordance with legal regulations [1]. Group 1: Company Involvement - The company holds a 1.81% stake in Ningbo Weierdeskeller Intelligent Technology Co., Ltd., indicating a small participation in the robotics sector [1]. - The company is actively engaged in restructuring activities and will provide updates as required by relevant laws and regulations [1]. Group 2: Investor Interaction - Investors have expressed interest in the company's involvement in new energy technology and robotics projects, highlighting a demand for more information on potential acquisitions and restructuring progress [1].

Core Insights - The 8th China International Import Expo (CIIE) opened in Shanghai on November 5, showcasing major global automotive companies and their advancements in smart mobility and new energy technologies [1] Group 1: International Automotive Companies' Participation - Major global automotive companies, including Volkswagen, Tesla, BMW, and Nissan, have participated in all eight editions of the CIIE, indicating their commitment to the Chinese market [1] - The term "full attendance" was frequently mentioned by executives from international car manufacturers, highlighting their ongoing engagement with the Chinese market [4] Group 2: Technological Innovations and Collaborations - Tesla showcased its latest electric vehicle models, including the Cybercab, which features a fully autonomous driving system without a steering wheel or pedals, set to begin mass production in Q2 2026 [2] - Volkswagen presented its new generation of smart connected vehicles, developed in collaboration with Chinese partner XPeng Motors, emphasizing its commitment to local development [2] - BMW introduced its new generation models equipped with advanced AI capabilities and is collaborating with Chinese tech firms to enhance user experience and smart driving solutions [3] - Nissan unveiled the world's first fuel vehicle equipped with Huawei's HarmonyOS cockpit, aiming to create a "smart fuel vehicle" [3] Group 3: Commitment to the Chinese Market - Volkswagen's chairman emphasized the company's long-term investment strategy in China, aiming to strengthen local R&D capabilities and promote high-quality industry development [4] - BMW's CEO highlighted the importance of the CIIE as a platform for global companies to innovate and collaborate with Chinese partners, focusing on sustainable and high-quality development [4] - Bosch's president in China reiterated the company's commitment to integrating with China's industrial development and supporting local innovations to connect with global markets [5] Group 4: New Developments - Nissan is set to establish its first joint venture vehicle import and export company in China, marking a significant step in its strategy to enhance local operations and global outreach [6]

Core Viewpoint - The establishment of Times Qiji New Energy Technology (Honghe) Co., Ltd. indicates a strategic move by Ningde Times to expand its footprint in the new energy sector, particularly in electric vehicle battery swapping and energy measurement technologies [1] Group 1: Company Overview - Times Qiji New Energy Technology (Honghe) Co., Ltd. has been recently established with Wang Menghuai as the legal representative [1] - The company is fully owned by Times Qiji Green Energy Technology (Kunming) Co., Ltd., a subsidiary of Ningde Times [1] Group 2: Business Scope - The business scope of the new company includes research and development of emerging energy technologies, sales of electric vehicle battery swapping facilities, and online energy measurement technology development [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company, Huayang Racing, has a strong focus on independent innovation and is accelerating its international expansion, particularly in the energy motorcycle sector [3] - The company achieved a revenue of 530 million yuan in 2024, representing a year-on-year increase of 10.06%, with a net profit of 56.14 million yuan, up 9% [3][26] - The company is expected to maintain a growth trajectory with projected net profits of 75 million, 95 million, and 107 million yuan for 2025, 2026, and 2027 respectively, corresponding to EPS of 1.34, 1.69, and 1.91 yuan [3][7] Company Overview - Huayang Racing has 20 years of experience in independent research and development, focusing on off-road motorcycles and all-terrain vehicles, with a stable international business presence [3][16] - The company has maintained a foreign sales ratio of around 90% over the past two years, achieving full coverage across domestic provinces [3][28] - The company has established a global sales network covering over 60 countries and regions, with a significant presence in North America and Russia [18][28] Industry Trends - The global off-road motorcycle market is expected to reach $22.36 billion by 2034, driven by the growth of competitive sports and outdoor activities [4][39] - The North American market for all-terrain vehicles is projected to grow at a CAGR of 7.64% from 2025 to 2030, reaching a market size of $15.83 billion by 2030 [4][57] - The off-road motorcycle market is characterized by a healthy commercial environment suitable for small and medium enterprises, despite high competition from established brands [47] Competitive Advantages - Huayang Racing has improved both production capacity and innovation, enhancing its competitiveness in regional markets [5][59] - The company offers high product cost-performance ratios, with prices significantly lower than competitors like KTM [5][71] - The company has strategically focused on the Russian market, capitalizing on the exit of Western brands and increasing its market share [5][78] Financial Summary - The company’s revenue is projected to grow from 479 million yuan in 2023 to 1.088 billion yuan in 2027, with a CAGR of 11.50% from 2022 to 2024 [7][26] - The gross profit margin is expected to remain stable, with a slight decline projected from 22.3% in 2024 to 20.2% in 2027 [7] - The company’s P/E ratio is projected to decrease from 44.0 in 2023 to 21.0 in 2027, indicating potential for valuation improvement [7]

Group 1 - The core viewpoint of the articles is that Guangdong Vanward New Electric Co., Ltd. is transitioning from a global leader in gas appliances to a comprehensive solution provider for heating and hot water, aiming to become a world-class new energy technology company [1][2] - Vanward has launched a new "1211" industrial strategy, which includes upgrading its main business from gas appliances to a multi-energy layout for heating and hot water, and strengthening its core areas in kitchen and bathroom appliances [1] - The company aims to enhance its research and manufacturing capabilities in heat pump technology, while also establishing a new development base in industrial technology to provide efficient and intelligent solutions for global industrial clients [1] Group 2 - Vanward has achieved "manufacturing going abroad" through production bases in Thailand and Egypt, and is leveraging cross-border e-commerce to strategically enter overseas markets [2] - The company plans to promote "capital going abroad" to systematically build an overseas capital platform, with product-driven development remaining a core focus [2] - Vanward has announced a series of aerospace technology products developed in deep collaboration with the China Aerospace Aerodynamics Research Institute, including innovative technologies such as a new generation of aerospace-grade atomization exhaust technology [2]

Core Viewpoint - BYD's T18 electric sanitation vehicles showcased their efficiency, low noise, and zero emissions during a national event, highlighting China's advancements in new energy technology and commitment to green initiatives [2]. Group 1: Event Participation - This marks the third time BYD has provided sanitation support for a national military parade, following the 2015 "Ninety-Three Parade" and the 2019 celebration of the 70th anniversary of the founding of New China [2]. - The participation in these significant national events reflects trust in BYD's commercial vehicle brand and recognition of its technology and quality [2]. Group 2: Product Features - The T18 sanitation vehicle is a third-generation product that incorporates cutting-edge technology from BYD's commercial vehicle division [2]. - The vehicle features a custom electric chassis, blade battery, high-efficiency motor, and intelligent electronic control system, optimized for frequent start-stop conditions, resulting in a maximum energy consumption reduction of 15% [2]. - BYD has deployed over 3,000 sanitation vehicles in Beijing to date [2].