日前，欣旺达副总裁兼首席可持续发展官梁锐率队前往匈牙利首都布达佩斯，与匈牙利电池联盟 （HUBA）主席 Péter Kaderják、专家 György Láng 展开专题交流，双方围绕电池护照落地、产业可持续 发展等核心议题深入探讨，为中欧电池产业搭建起精准对接的合作桥梁。 交流中，梁锐结合丰富的行业积淀，全面分享了全球及中国电池产业的最新发展动态。从国内固态电 池、超快充等前沿技术的突破热潮，到全球电池联盟（GBA）2025年度大会达成的行业共识，梁锐深 入剖析了当前产业发展的机遇与挑战。同时，他详细介绍了欣旺达在可持续发展领域的实践成果：公司 绿色电力推广与节能项目稳步推进，自主研发的电池护照平台已完成全生命周期管理、碳足迹核算等核 心功能部署，且在GBA试点项目中积累了可复制、可推广的实践经验，为电池产业数字化合规提供了 成熟方案。 作为推动匈牙利本土电池产业发展的关键组织，HUBA在交流中聚焦双方互补性需求，展现出强烈的合 作意愿。匈方明确认可欣旺达在电池数字化合规、GBA试点运营等方面的先进经验，提出计划在其主 导的EU电池平台建设中借鉴这些创新成果；同时，匈方对欣旺达的核心拳头产品表现出浓厚兴趣 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core Views of the Report - On December 4, the main nickel contract on the Shanghai Futures Exchange fluctuated within a range. With a weak nickel fundamental and inventory pressure, along with the repeated expectations of the Fed's interest - rate cuts, after the price recovered from a low level, nickel prices are expected to fluctuate within a range. The trading strategy is to wait and see [1][2]. - On December 4, the main stainless - steel contract also fluctuated within a range. Given the loose fundamentals and weakening cost support, stainless - steel prices are expected to fluctuate weakly. The trading strategy is to short on rallies [2]. 3. Summary by Relevant Catalogs Nickel Market Futures Market - On December 4, the closing prices of Shanghai nickel futures contracts generally decreased. For example, the closing price of the near - month contract was 117,600 yuan/ton, down 260 yuan from the previous day. The trading volume of Shanghai nickel futures was 103,322 lots, a decrease of 9,126 lots, and the open interest of the active contract decreased by 577 lots [2]. - The inventory of Shanghai nickel futures increased, with the inventory on December 4 being 32,595 tons, an increase of 2,501 tons from the previous day [2]. Spot Market - The average price of SMM 1 electrolytic nickel increased by 400 yuan compared to the previous day. The basis (spot - to - futures) widened, with the basis of SMM 1 electrolytic nickel average price minus the closing price of the active nickel futures contract being 2,130 yuan on December 4 [2]. Supply and Demand - Supply side: Nickel ore prices remained flat. The arrival volume of nickel ore at ports increased last week, and port inventories decreased. The loss of nickel - iron plants deepened, with domestic and Indonesian nickel - iron production schedules decreasing in December. The domestic electrolytic nickel production schedule increased in December, and the loss of electrolytic nickel imports narrowed [2]. - Demand side: Ternary material production decreased; stainless - steel plant production schedules decreased; alloy and electroplating demand remained stable [2]. Inventory - The inventory of the Shanghai Futures Exchange, LME, and social inventory increased, while the bonded - area inventory decreased [2]. Stainless - Steel Market Futures Market - On December 4, the main stainless - steel contract fluctuated within a range. The trading volume was 84,742 lots, an increase of 4,381 lots, and the open interest decreased by 871 lots [2]. - The inventory of stainless - steel futures on the Shanghai Futures Exchange decreased, with the inventory on December 4 being 62,157 tons, a decrease of 180 tons from the previous day [2]. Spot Market - Spot market trading was weak, and the basis premium widened. For example, the basis of the average price of 304/2B coil - cut edge (Wuxi) minus the active contract price was 775 yuan on December 4 [2]. Supply and Demand - Supply side: Stainless - steel production decreased in December, and the production schedule of the 300 - series stainless - steel decreased [2]. - Demand side: Terminal demand was weak [2]. Cost - The price of high - grade nickel pig iron decreased, while the price of high - carbon ferrochrome remained flat [2]. Industry News - After the EU officially issued the new battery passport policy, the Indonesian nickel industry has once again become the focus. The full implementation of the policy is scheduled for February 2027. The preparation levels of Indonesian nickel producers vary, and the real challenge lies with producers in the early stage of development [2].

Core Insights - The export of power batteries has become a significant aspect of China's manufacturing presence abroad, with the "new three items" (electric vehicles, lithium batteries, and photovoltaics) emerging as new export pillars, contributing over 900 billion yuan in total exports in the first three quarters of the year, with lithium batteries alone accounting for nearly 400 billion yuan [1][2] - The cumulative export of power and other batteries reached 228.1 GWh from January to October this year, marking a year-on-year increase of 43.9%, with power batteries making up 148.5 GWh, or 65.1% of total exports, and a year-on-year growth of 37.2% [2][3] - The introduction of the EU's new battery regulation, which mandates compliance with strict recycling and carbon footprint reporting requirements, poses significant challenges for Chinese battery manufacturers in maintaining competitiveness in the global market [1][4][6] Export Performance - In the first ten months of this year, the cumulative export of ternary lithium batteries was 87.2 GWh, a year-on-year increase of 25.9%, while phosphate iron lithium batteries reached 60.3 GWh, with a remarkable growth of 58.7% [3] - The export market shows a different distribution compared to the domestic market, with a 40-60 split in favor of ternary lithium batteries overseas, contrasting with the 80-20 split seen domestically [3] Regulatory Challenges - The EU's new battery law requires a "battery passport" for exported batteries, detailing the manufacturer, material composition, carbon footprint, and supply chain information, effective from 2027 [1][4] - The law sets ambitious recycling targets, including a 90% recovery rate for cobalt, copper, lead, and nickel by the end of 2027, and 50% for lithium, with further increases by 2031 [5] Recycling and Compliance - The need for a robust recycling and compliance system is emphasized, as the current recycling network for Chinese companies abroad is still in its infancy, facing challenges such as limited recovery channels and insufficient local operational experience [5][6] - Industry experts suggest that collaboration among upstream and downstream enterprises is essential for developing a comprehensive battery recycling system and compliance innovation [8] Strategic Recommendations - Recommendations include establishing a national battery recycling platform, creating a national battery bank for lifecycle management, and developing a national data center to support carbon footprint tracking and lifecycle management [8] - The industry is encouraged to enhance the integration of carbon footprint databases and promote international recognition of standards to improve competitiveness in the global market [6][8]

Core Insights - The 2025 World Power Battery Conference opened in Yibin, Sichuan, showcasing significant advancements in the battery industry, including ten innovative achievements and eight development trends [1][5]. Group 1: Innovative Achievements - The ten innovative achievements highlight a comprehensive breakthrough in the power battery industry, focusing on stable global supply chains for key materials like cathodes and anodes, the establishment of zero-carbon factories, and improved recycling systems for low-carbon development throughout the entire lifecycle [1]. - A regulatory framework covering the entire lifecycle of batteries has been established, promoting mutual recognition of standards domestically and internationally, and enhancing international trust through tools like battery passports [1]. Group 2: Development Trends - The eight development trends indicate that material innovation will drive power batteries towards higher energy density and cost-effectiveness, with solid-liquid hybrid batteries transitioning from small-scale applications to market commercialization [5]. - All-solid-state batteries are achieving technological breakthroughs and are beginning industrial demonstration [5]. Group 3: Industry Positioning - The Chinese battery industry has transitioned from a position of catching up with foreign counterparts to leading the global market, supported by hundreds of achievements and thousands of foreign patents [3]. - The lithium battery industry is expected to expand significantly into sectors such as energy storage, shipping, AI, and low-altitude economy, indicating a broad future outlook [3].

Core Viewpoint - The global power battery industry is entering a more complex and challenging second half, shifting focus from capacity expansion to ecosystem, cost, application, and technology competition [2][5][14]. Group 1: Industry Landscape - Yibin is recognized as a core industrial hub for global power batteries, producing one out of every ten batteries worldwide [2][5]. - The theme of the upcoming World Power Battery Conference, "New Vision, New Ecology, New Opportunities," highlights the industry's evolution direction [2]. Group 2: Ecosystem Development - Yibin aims to build a "resilient" industrial ecosystem to provide certainty for enterprises amid intensifying homogenization competition [5][14]. - The local government plays a crucial role in facilitating connections between businesses and major players like CATL, enhancing the ecosystem's vibrancy [7][14]. Group 3: Competitive Advantages - Yibin's first competitive advantage is its "green electricity," with 80% of its power sourced from hydropower, leading to significantly lower industrial electricity costs compared to other regions [11][13]. - The second advantage is "efficiency," with over 90% of battery structural components sourced locally, reducing logistics costs and enhancing supply chain responsiveness [13][14]. Group 4: New Market Opportunities - Yibin is actively creating new market opportunities by integrating industry with urban applications, such as heavy-duty truck battery swapping and electric vessels [16][20]. - The city has established a leading demonstration system for heavy-duty truck battery swapping, with 19 stations and nearly 3,000 trucks promoted [18][19]. Group 5: Technological Advancements - Yibin is focusing on becoming a research and development hub, particularly in solid-state battery technology, which is seen as the next generation of power battery technology [24][28]. - The establishment of the Ouyang Minggao Academy of Sciences in Yibin has attracted top talent and facilitated local research and development efforts [27][28]. Group 6: Future Outlook - The upcoming World Power Battery Conference will emphasize low-altitude economy and electric aviation, indicating Yibin's strategic positioning in emerging markets [22][29]. - Yibin's comprehensive approach, from green electricity to technological innovation, presents a compelling model for sustainable development in the power battery industry [29][32].

Core Insights - The Chinese battery industry is transitioning from a focus on production capacity to a focus on value-driven solutions, emphasizing innovation and collaboration to build a healthy industrial ecosystem [1][3][10] Industry Trends - The industry is entering a new phase driven by emerging demands in sectors such as energy storage, electric shipping, low-altitude aircraft, and smart elderly care robots, shifting competition from capacity to scene-based solutions [3][6] - The past decade saw China achieve a leading global market share through capacity expansion and cost advantages, but concerns over low-end capacity surplus and homogenization have emerged [3][7] Technological Innovations - The industry is diversifying its technological routes to meet specific scene requirements, moving away from a one-size-fits-all approach [6][7] - Innovations such as the "600Wh/kg hydrogen hybrid power system" and water-based iron-nickel batteries are being developed to address specific needs in low-altitude and long-duration energy storage applications [6][7] R&D Transformation - The integration of artificial intelligence in battery material development is expected to reduce the traditional three-year R&D cycle to six months, enhancing the industry's ability to respond to customized scene demands [8][9] Competitive Landscape - Future competition in the battery sector will not only focus on technology and products but also on data management, carbon management, and lifecycle services, with "battery passports" becoming a critical component [9][10] - Compliance with new regulations, such as the EU's battery passport requirement, poses challenges for Chinese battery companies, including high compliance costs and supply chain transparency issues [9][10]

Core Viewpoint - The article discusses the implementation of a "Battery Passport" by European automakers, particularly Kia, as a response to new EU regulations aimed at enhancing battery transparency and traceability throughout the battery lifecycle [4][5][13]. Group 1: Battery Passport Implementation - Kia Europe is conducting a public trial of the "cell-level" battery passport on the EV3 model, which allows real-time tracking of battery health and maintenance diagnostics [5][8]. - The battery passport will be mandatory for all electric and hybrid vehicles sold in Europe by February 2027, exceeding the basic regulatory requirements by integrating additional safety-related data [5][10]. - The system enables data collection from each battery cell, ensuring transparency and traceability throughout the battery's lifecycle, which can benefit vehicle owners by extending battery life and reducing maintenance costs [8][10]. Group 2: Regulatory Context - The EU's new battery regulation (EU 2023/1542) mandates that all electric vehicles with a capacity greater than 2kWh must have a digital battery passport by February 18, 2027 [13][14]. - The regulation outlines over 100 data attributes that the battery passport must include, covering aspects such as carbon footprint, recycling content, and performance [13][14]. - The focus has shifted from whether to comply with regulations to how to effectively implement the necessary systems and data management [15][16]. Group 3: Industry Collaboration and Future Prospects - Kia's initiative is part of a broader industry trend, with other automakers like Volvo also planning to implement battery passports in alignment with EU regulations [20][21]. - The collaboration among various stakeholders, including academic institutions and technology providers, is crucial for the successful deployment of the battery passport system [10][22]. - The battery passport is expected to evolve beyond compliance, impacting after-sales services and financial aspects such as second-hand vehicle valuations and warranty pricing [22][23].

Group 1 - The article highlights the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference, scheduled for November 6-8, 2025, in Guangzhou, with over 200 exhibitors and 20,000 professional attendees expected [2] - The event will feature the first batch of exhibitors and sponsors, including companies like JinNa Technology, RuTian Technology, and others, indicating strong industry participation [2] - The article discusses the expansion of EVE Energy's overseas operations, including projects in Europe, such as a 500MWh project in Poland and a partnership with TSL Assembly in Central and Eastern Europe [2][3] Group 2 - EVE Energy's Hungarian battery factory has entered the installation and debugging phase, with a planned capacity of 28GWh, primarily producing 46 series cylindrical batteries for BMW [3] - The company has also launched a battery passport in Germany, which assigns an identity to each cell in consumer, power, and storage battery categories [4] - EVE Energy's overseas strategy includes establishing manufacturing bases, bidding for international orders, and technology licensing, with significant investments in Malaysia and Indonesia [5][6] Group 3 - The CLS model (Cooperation, License, Service) is being utilized to navigate trade barriers in North America and Europe, enhancing EVE Energy's global presence [6] - In the first half of 2025, EVE Energy's energy storage battery shipments reached 28.71GWh, a year-on-year increase of 37.02%, with a capacity utilization rate of 87.51% [6] - The company aims to achieve a total capacity exceeding 100GWh by 2026 through collaboration among its facilities in Hungary, Malaysia, and the United States [5][7] Group 4 - EVE Energy has initiated an IPO on the Hong Kong Stock Exchange to support its international expansion and project funding, reflecting a strategic move to enhance its market presence [7] - The article emphasizes the importance of EVE Energy's transition from a battery manufacturer to a global solution provider, highlighting the need for continued focus during this critical phase [7]

Core Insights - The joint venture model between core battery suppliers and automotive companies is gaining traction in the automotive industry due to its synergistic effects in scale growth, collaborative innovation, and cost reduction [1][4][6] Joint Ventures and Collaborations - Li Auto and Aoxin Wanda Electronics' subsidiary, Aoxin Wanda Power Technology, have established a 50:50 joint venture named Shandong Li Auto Battery Co., Ltd., focusing on the production and sales of lithium-ion power batteries for electric vehicles [1] - Aoxin Wanda Power is not the first to partner with automotive companies; it has previously collaborated with Dongfeng Group to establish Hubei Dongyu Xinshi New Energy Co., Ltd., marking a significant milestone in their deep cooperation in the power battery sector [4][5] Technological Advancements - Aoxin Wanda Power has made significant technological breakthroughs in collaboration with Renault-Nissan, focusing on high power, long life, and safety in battery technology, which has been integrated into Dongfeng Nissan's products [5] - The establishment of Dongyu Xinshi has led to rapid production capacity growth, supporting Dongfeng's electric vehicle transformation [5][6] Industry Trends - The relationship between automotive companies and core suppliers is evolving from a simple supplier-customer dynamic to a collaborative partnership, emphasizing joint innovation and co-creation [6][9] - Aoxin Wanda Power's Vice President highlighted the importance of understanding both B-end (automakers) and C-end (consumers) needs, indicating a shift in the supplier's role towards a more integrated approach [9][18] Market Performance - Dongfeng Nissan's N7 model achieved a monthly sales record of over 10,000 units, reflecting the successful collaboration with Aoxin Wanda Power, which has been the exclusive battery supplier for this model [10][13] Production Efficiency - The establishment of a smart manufacturing line at Dongyu Xinshi has significantly improved production efficiency and product quality, achieving over 98% improvement compared to traditional automation methods [13][17] - The focus on production efficiency and cost-effectiveness is crucial for the competitiveness of new ultra-fast charging battery projects [17] Sustainable Development - Aoxin Wanda Power is actively participating in the global battery alliance and is involved in the development of battery passport standards, aiming to promote sustainability in the battery industry [18][19] - The company is also contributing to the digital platform for battery ID, enhancing lifecycle traceability and management for automotive companies [19]

Core Viewpoint - Chinese new energy companies are becoming key players in driving global energy transition, but they must manage risks and ensure compliance to operate successfully in international markets [1][2]. Group 1: Regulatory Compliance - The EU's Battery and Waste Battery Regulation mandates that from February 18, 2027, batteries for light vehicles, electric vehicles, and industrial batteries over 2kWh must have a "battery passport" for market entry [1]. - Compliance with EU regulations in labor, data protection, and corporate governance is crucial for Chinese new energy firms to succeed in Europe [2]. - High compliance costs present opportunities for companies to establish systems that meet EU standards, potentially eliminating weaker competitors [2]. Group 2: Strategic Approaches - Companies can adopt differentiated competition strategies, such as shifting focus from saturated lithium battery markets to niche markets like nickel-hydride batteries [3]. - Small and medium enterprises should prioritize practical compliance by forming "China-foreign cooperation" legal teams and partnering with local law firms with established resources [3]. - A flexible "one country, one policy" strategy is recommended for market entry, adapting to local conditions and investment environments [4]. Group 3: Risk Management - Geopolitical factors, such as the U.S. Inflation Reduction Act, pose significant risks, preventing Chinese battery companies from accessing U.S. clean energy tax credits and placing them at a competitive disadvantage [3]. - Compliance should be integrated into business processes rather than being confined to legal departments, requiring dynamic databases to support regulations like the "battery passport" [4]. - Due diligence on overseas partners is essential to avoid involvement in local corruption or legal issues [4].