Group 1 - The price of electrolytic manganese has been rising significantly, reaching a three-year high with an average price of 17,820 yuan/ton as of December 18, reflecting a month-to-date increase of nearly 15% [1] - The increase in electrolytic manganese prices is attributed to a balance between supply and demand, with supply constraints due to environmental regulations and reduced production capacity, while demand is driven by the steel industry's year-end inventory needs and the growth in the new energy sector [1][3] - Red Star Development's manganese products, including electrolytic manganese dioxide and high-purity manganese sulfate, are becoming key growth drivers for the company, with a projected production capacity of 30,000 tons/year by mid-2025 [1] Group 2 - Xiangtan Electric Chemical, a leading company in the electrolytic manganese industry, has established a vertically integrated supply chain from manganese resources to electrolytic manganese dioxide and lithium manganese oxide [2] - The company is actively seeking additional high-quality manganese resources to enhance its production capabilities [2] - Three Gorges Water Conservancy's Li Jiawan manganese mine serves as a source of raw materials for its electrolytic manganese production [3]