从业资格号：F3038114 投资咨询号：Z0014834 电话：010-62688541 晨报 碳酸锂 成材：重心下移 偏弱运行 碳酸锂：中东局势升级引发资金恐慌 震荡回调 以伊冲突 负责人：赵 毅 从业资格号：F3059924 投资咨询号：Z0002978 电话：010-62688526 成 材：武秋婷 从业资格号：F3078638 投资咨询号：Z0018248 电话：010-62688555 原材料： 冯艳成 从业资格号：F3059529 投资咨询号：Z0018932 电话：010-62688516 有色金属：于梦雪 从业资格号：F03127144 投资咨询号：Z0020161 电话：021-20857653 2026 年 3 月 4 日 宏观政策层面，国内政策，汽车以旧换新补贴与电池出口退税直接刺 激终端消费，改善宏观流动性；新能源汽车动力电池综合利用管理办法提 高回收门槛、淘汰落后产能，长期优化国内供应结构并抬升成本支撑中枢； 青海盐湖开发、储能"十五五"及中央经济工作会议系列部署形成协同，支 撑长期供需平衡。宏观环境，央行结构性降息强化中长期利好氛围。国际 层面，2 月美最高法院裁定 IEEPA ...

光期研究 2 0 2 6年3月 橡 胶 策 略 报 告 2 0 2 6 年 3 月 1 光大证券 2020 年 半 年 度 业 绩 E V E R B R I G H T S E C U R I T I E S 橡胶：国内产区3月或正常开割，需求利好支撑胶价 p 2 | | 目 | 录 | | --- | --- | --- | | 1、价格：期货盘面宽幅震荡 | | | | 2、供应：天胶国外进入低产季 | | | | 3、需求：轮胎开工节后修复 | | | | 4、库存：天然橡胶库存中性 | | | | 5、持仓 | | | 1.2 价格：橡胶主力合约基差 p 3 1.1 价格：RU盘面月涨幅4.86%，NR盘面月涨幅4%，BR盘面月跌幅5.68% 图表：NR主力合约走势（单位：元/吨） 图表：沪胶主力价格（单位：元/吨） 图表：BR主力合约走势（单位：元/吨） 10000 12000 14000 16000 18000 20000 22000 24000 26000 28000 2025/01 2025/02 2025/03 2025/04 2025/05 2025/06 2025/07 2025/08 ...

2月25日，记者从河南省商务厅获悉，该厅会同省发展和改革委、省工业和信息化厅、省公安厅、 省财政厅、省生态环境厅、省税务局、省市场监管局等部门印发《河南省2026年汽车以旧换新补贴实施 细则》，并编制《2026年河南省汽车以旧换新补贴问答手册》。 按照《实施细则》，在汽车报废更新方面，2026年，对报废符合条件旧车并购买新能源乘用车的， 按新车销售价格的12%给予补贴，补贴金额最高2万元；对报废符合条件燃油乘用车并购买2.0升及以下 排量燃油乘用车的，按新车销售价格的10%给予补贴，补贴金额最高1.5万元。 在汽车置换更新方面，2026年，对换购符合条件新能源乘用车的，按新车销售价格的8%给予补 贴，补贴金额最高1.5万元；对换购符合条件燃油乘用车的，按新车销售价格的6%给予补贴，补贴金额 最高1.3万元。 申请2026年汽车置换更新补贴需要提供哪些材料？申请人身份信息，身份证件照片或扫描件；申请 人银行账户信息，须为商业银行在中国境内发行的银联借记卡且为I类账户（请与开户银行核实账户类 型）；转让的旧车《二手车销售统一发票》和办理转让登记后的《机动车登记证书》（第1页至第4页， 包含登记栏所载明的车辆登记全 ...

崔东树：全国乘用车行业2026年1月末库存357万辆、库存70天 赛力斯公布晕车识别专利 天眼查知识产权信息显示，近日，赛力斯汽车有限公司申请的"一种晕车识别方法、装置、存储介质及 设备"专利公布。摘要显示，本申请的方法中，利用多源信号样本训练用于预测驾乘人员的晕车状态的 教师模型，通过知识蒸馏技术，基于训练好的教师模型提供的软标签和IMU信号样本训练学生模型，将 训练好的学生模型确定为晕车识别模型。 2月25日，乘联分会秘书长崔东树发文表示，2026年1月月末全国乘用车行业库存357万辆，较上月下降8 万辆，较2025年1月增58万辆，形成库存高位运行特征。2026年1月底的库存与未来销量综合预估的现有 库存支撑未来销售天数在70天，相对于2023年1月的65天、2024年1月的70天，2025年1月的48天，今年1 月的总体库存压力相对较大。从仅生产新能源车企业的库存变化特征分析看，随着反内卷的推动，行业 库存9月降到62万辆，2026年1月行业库存上升到72万辆，较峰值库存降16万辆，但较12月增加6万辆。 近期新能源经销商的厂家和渠道库存面临市场低于预期，行业库存总体压力较大。 河南发布2026年汽车 ...

Core Viewpoint - The article discusses the new vehicle replacement subsidy policy in Henan for 2026, which provides financial incentives for consumers to trade in old vehicles for new ones, particularly focusing on electric and fuel vehicles [1] Group 1: Subsidy Details - The subsidy for scrapping eligible old vehicles and purchasing qualifying new energy passenger cars is set at 12% of the new car sales price, with a maximum subsidy of 20,000 yuan [1] - For scrapping eligible fuel passenger cars and purchasing qualifying new fuel passenger cars, the subsidy is 10% of the new car sales price, with a maximum subsidy of 15,000 yuan [1] - No subsidies will be provided for scrapping new energy passenger cars when purchasing fuel passenger cars [1]

转自：劳动报 （来源：劳动报） 上海市商务委提醒指出：参加报名摇号和申请补贴的消费者应为同一人（同一身份证件类型和证件号码）。补贴中签资格仅供本人使用，不得转让。参加摇 号报名的个人消费者，若当次未中签，后续无需再次提交报名信息，摇号系统将自动将前期未中签消费者纳入下一轮摇号。为方便消费者报名，报名时无需 选择报废更新或置换更新。取得中签资格的消费者可以提交报废更新或置换更新补贴申请（只能选择其一）。报名摇号仅为补贴资格发放阶段，不代表成功 申报补贴。消费者中签后需在规定时间内提交申请，后续审核阶段如发现申请材料不符合相关条件，仍予以审核不通过。 此外，2026年我市汽车以旧换新补贴资金使用按照"总额控制、用完即止"原则实施，请有意向的消费者抓紧报名。已中签的消费者，请及时提交申请，以免 影响补贴申领。自《实施细则》发布之日起，至最后一轮摇号前一日，每个工作日7:00至22:00消费者均可提交报名。后续轮次摇号时间，请持续关注官方 公告。 头图来源：图虫 需要注意的是，个人消费者提交报名信息时，平台将对接国家税务总局全国增值税发票查验平台，对上传的新购车辆发票进行实时校验。发票未通过校验 的，将无法完成报名。 ...

Group 1 - In January 2026, most car manufacturers reported a year-on-year increase in sales but a month-on-month decline, with the automotive consumption index dropping to 31.1 from 97.7 in the previous month [1] - The implementation of the "old-for-new" subsidy policy is expected to stimulate consumer demand for car purchases, despite a gradual reduction in subsidy amounts compared to the previous year [1][2] - Over 20 provinces, including Beijing, Shanghai, and Hubei, have launched specific implementation plans for the "old-for-new" subsidy, with some regions offering up to 20,000 yuan in subsidies [1][2] Group 2 - A series of consumer promotion policies have been introduced at both central and local levels to boost the automotive market, particularly ahead of the traditional sales peak during the Spring Festival [2][4] - Specific subsidies for replacing old vehicles with new energy vehicles and fuel-efficient cars have been announced, with maximum subsidies of 20,000 yuan for new energy vehicles and 15,000 yuan for fuel vehicles [2][3] - The "2026 'Happy Shopping Spring' Special Activity Plan" encourages local governments to increase the number of subsidies for the "old-for-new" program during the Spring Festival [4] Group 3 - The automotive market is expected to face a phase of adjustment in February 2026 due to multiple factors, including the impact of the Spring Festival, previous demand exhaustion, and changes in the new energy vehicle purchase tax policy [6] - January 2026 saw a significant decline in retail sales of passenger vehicles, with a year-on-year drop of 28% and a month-on-month drop of 37%, indicating pressure on the market [6] - Despite adjustments in the "old-for-new" policy and the new energy vehicle purchase tax, the overall stimulating effect of these policies on the market remains significant [7] Group 4 - The total sales volume of automobiles in China is projected to reach 34.75 million units in 2026, with a year-on-year growth of 1%, while new energy vehicle sales are expected to grow by 15.2% to 19 million units [7] - The ongoing implementation of the "old-for-new" policy is anticipated to stabilize new car market prices, creating a favorable environment for the used car market [7]

本市汽车以旧换新补贴将自2月9日10时开放申报系统。申领"报废更新"补贴的消费者，可登录全国汽车 流通信息管理系统网站或"汽车以旧换新"小程序，进入"汽车报废更新补贴申请入口"，线上提交补贴申 请。申领"置换更新"补贴的消费者，可通过"北京市汽车以旧换新补贴系统"电脑端网页、"绿交车辆"小 程序、"京通"移动端"北京市消费品以旧换新专区"线上提交申请。 需要注意的是，在2026年汽车以旧换新政策中，报废或转让旧车、购置新车有关材料应自2026年1月1日 起取得，报废的旧车或售卖的旧车应于2025年1月8日前登记在申领人本人名下，且每名消费者2026年仅 能获得一次"报废更新"补贴或一次"置换更新"补贴。 （来源：北京城市副中心报） 本报讯（记者 杨天悦）2026年本市汽车以旧换新补贴政策正式出炉。记者获悉，本市正式发布《北京 市2026年汽车以旧换新补贴实施方案》，即将启动实施"报废更新"和"置换更新"两类补贴，申报系统将 于2月9日10时开放，符合条件的购车消费者可获得最高2万元的补贴支持。 其中，"报废更新"是指报废旧车、购买新车。购买新能源乘用车的消费者，可获得新车销售价格12%的 补贴，补贴金额最高2 ...

Core Viewpoint - Hubei Province has officially launched a new round of vehicle trade-in subsidy policy, effective from January 1, 2026, aimed at promoting green consumption and optimizing the automotive market [1][4]. Group 1: Policy Implementation - The new subsidy policy includes adjustments to the vehicle scrapping and trade-in standards, extending the registration time for scrapped vehicles, and ensuring that more essential consumer groups benefit from the subsidies [1][4]. - The subsidy standard will now be calculated as a percentage of the new car sales price, with a maximum subsidy of 20,000 yuan for purchasing new energy vehicles and 15,000 yuan for fuel vehicles with an engine size of 2.0 liters or less [4][5]. Group 2: Consumer Impact - As of December 21, 2025, nearly 420,000 applications for the trade-in subsidy have been submitted, generating over 60 billion yuan in automotive consumption, with nearly 50% of consumers benefiting from the policy [2]. - The proportion of new energy vehicles purchased through the trade-in program exceeds 60%, indicating a rapid shift towards greener and smarter automotive solutions [2]. Group 3: Application Process - The application process for subsidies will continue to be fully online, allowing consumers to apply through designated platforms with necessary documentation [2][3]. - Each consumer can only choose one option between scrapping and trade-in for subsidies within a year, and the same vehicle cannot receive multiple subsidies [3]. Group 4: Regulatory Framework - The policy emphasizes a unified standard for trade-in subsidies and prohibits the designation of specific vehicle recycling companies, ensuring fair participation from various business entities [3][4]. - A joint regulatory mechanism will be established among relevant departments to prevent fraudulent claims and ensure compliance with the subsidy guidelines [3].

Core Viewpoint - Beijing will implement a new automobile trade-in subsidy scheme starting February 9, 2026, with a maximum subsidy amount of 20,000 yuan [1]. Group 1: Subsidy Details - The subsidy scheme includes two categories: "scrapping and updating" and "trading and updating" [1]. - For "scrapping and updating," consumers can receive a subsidy of 12% of the new car sales price (up to 20,000 yuan) for purchasing new energy vehicles, and 10% (up to 15,000 yuan) for purchasing fuel vehicles with an engine size of 2.0 liters or less [3]. - For "trading and updating," consumers can receive a subsidy of 8% of the new energy vehicle sales price (up to 15,000 yuan) when selling an old car [3]. Group 2: Application Process - The application system for the subsidies will open on February 9, 2026, at 10:00 AM, and consumers can apply online through designated platforms [2]. - Consumers must ensure that the materials related to the scrapping or selling of old cars and the purchase of new cars are obtained from January 1, 2026 [4]. - Each consumer is eligible for only one subsidy for either scrapping or trading in a car in 2026 [4].