新年开新篇，奋进启新程。 在"十五五"开局之年，全国各地涌动实干热潮，各行各业抢抓开局、聚力攻坚，从科技创新研发到企业 生产一线，从项目建设现场到消费市场前沿，发展的活力持续迸发，为2026年经济发展筑好基、开好 局。 在服务新产业中发展新产业 浙江杭州，在算力与新材料赛道，传化集团旗下新安股份（600596）交出了硅基液冷领域技术与商用双 突破的新年答卷。 "我们依托60年有机硅材料研发与工程化经验，成功开发出具备高绝缘性、极低挥发性、优异热稳定性 及环境友好特性的硅基冷却液，完美适配浸没式液冷的严苛要求。"新安股份硅基新材料研究院院长刘 继指着浸没在透明冷却液中的服务器，详细讲解硅基液冷解决方案的细节。 针对数据中心、储能安全、超快充电等不同高热场景，新安股份已形成系列化产品矩阵，覆盖从材料到 系统的全链条，首个硅基浸没液冷商用项目在杭州稳定运行，其在新技术、新场景、新产业（300832） 领域的探索步伐还在继续。 眼下，液冷成为算力刚需，硅基材料凭借性能、成本与环保三重优势，成为液冷产业化的核心支撑，市 场空间加速打开，2026年有望迎来液冷产业化放量的关键节点。 "应用场景越多样、需求越细分，发展潜力 ...

新年开新篇，奋进启新程。 在"十五五"开局之年，全国各地涌动实干热潮，各行各业抢抓开局、聚力攻坚，从科技创新研发到 企业生产一线，从项目建设现场到消费市场前沿，发展的活力持续迸发，为2026年经济发展筑好基、开 好局。 在服务新产业中发展新产业 浙江杭州，在算力与新材料赛道，传化集团旗下新安股份交出了硅基液冷领域技术与商用双突破的 新年答卷。 "我们依托60年有机硅材料研发与工程化经验，成功开发出具备高绝缘性、极低挥发性、优异热稳 定性及环境友好特性的硅基冷却液，完美适配浸没式液冷的严苛要求。"新安股份硅基新材料研究院院 长刘继指着浸没在透明冷却液中的服务器，详细讲解硅基液冷解决方案的细节。 针对数据中心、储能安全、超快充电等不同高热场景，新安股份已形成系列化产品矩阵，覆盖从材 料到系统的全链条，首个硅基浸没液冷商用项目在杭州稳定运行，其在新技术、新场景、新产业领域的 探索步伐还在继续。 眼下，液冷成为算力刚需，硅基材料凭借性能、成本与环保三重优势，成为液冷产业化的核心支 撑，市场空间加速打开，2026年有望迎来液冷产业化放量的关键节点。 "应用场景越多样、需求越细分，发展潜力就越大。"刘继充满信心地说，"今 ...

文 | 刘婧琼 编辑 | 阿至 1月28日，36氪举办了以「重塑海上出行：当船舶装上"电动心脏" 与 "AI 大脑"」为主题的OpenTalk直播活动，特别邀请擎波探索创始人&CEO董江、博 鳐科技创始人&CEO李博作为本场分享嘉宾，就高性能电动舷外机、新能源出海、全航程自主航行任务、全场景智能航行解决方案等话题展开了深入分 享，并与观众进行了在线互动。 以下是本场直播的干货总结，欢迎阅读、分享与收藏。 以创新技术高能推进全球船艇电动化体系 分享嘉宾：董江，擎波探索创始人&CEO，拥有多年新能源汽车行业从业经验，在可持续能源战略、产业分析以及技术研发与应用方面具备系 统性的认知与丰富的实践基础。在长期关注水面出行与海洋环境议题的过程中，他认识到传统水面交通方式对海洋生态带来的持续性污染。随 着新能源汽车行业电动化与智能化技术的快速发展并逐步成熟，他创立了擎波探索（ExploMar），致力于推动水面交通的电气化与智能化升 级，为行业提供高性能、可持续的清洁动力解决方案。 分享关键词： #水面出行 、# 高性能电动舷外机 、 #新能源出海、# 研发创新 Founder思考 董江对全球船艇（Boat）电动化市场进行 ...

Core Insights - The signing of an order for 50 pure electric vessels by Jining Energy Group and CATL marks a significant step towards the commercialization and scaling of electric inland shipping in Shandong Province [1][3] - The first batch of five multi-purpose electric vessels will operate on the Grand Canal, contributing to the transformation of the canal into a "green waterway" [3] Group 1: Company Developments - The newly delivered vessels utilize an innovative "ship-battery separation" business model and containerized battery swapping technology, addressing range anxiety and achieving zero emissions and low noise operation [5] - Each vessel has a cargo capacity of 2,000 tons, and the entire batch is expected to reduce carbon dioxide emissions by over 1,300 tons annually [5] - Jining Energy Group, in collaboration with CATL and other partners, has signed over 180 orders to date, with 100 vessels launched and 80 delivered this year [7] Group 2: Industry Context - China's inland waterways are extensive, with the highest freight volume globally; however, approximately 300,000 vessels still rely on traditional diesel power, with around 60,000 on the Grand Canal [9] - The push for green and intelligent upgrades in inland shipping is crucial due to increasing water quality requirements along major waterways [9] - The province plans to enhance support for the development of smart electric vessels and improve infrastructure for battery charging and swapping [10]

Core Insights - The "Maya Cosulich," a chemical tanker built by Italian shipowner Fratelli Cosulich, is the world's first vessel equipped with methanol dual-fuel power, methanol transport, and methanol bunkering capabilities [2][5] - The ship measures 102.6 meters in length, 19 meters in width, has a deadweight tonnage of 7,990 tons, and a cargo hold capacity exceeding 8,200 cubic meters, and has been classified by the Italian classification society RINA [2][5] - The company Zhongchuan Innovation is the core supplier of the ship's power system, having developed a high-performance, high-safety marine battery energy storage system that operates in conjunction with three methanol dual-fuel generators [2][5] - The design of the "Maya Cosulich" aims to enhance green operational capabilities in port and shipping sectors, providing infrastructure support for the promotion of methanol fuel in the shipping industry [2][5] Company Developments - Zhongchuan Innovation's marine battery systems have been applied in various international and domestic projects, including the world's largest 10,000-ton pure electric container ship "Zhongyuan Shipping Green Water 01" and Saudi Aramco's first hybrid marine engineering vessel "Karan8" [3][6] - The company's technology solutions cover multiple scenarios domestically, such as the largest passenger capacity pure electric tourist ship "Dianjing" and the "Electric Li River" series of electric vessels in the Li River basin [3][6] - Zhongchuan Innovation has received multiple international certifications from organizations such as the American Bureau of Shipping (ABS), DNV, and China Classification Society (CCS), validating the reliability of its marine battery systems under various conditions [3][6] - As demand for low-carbon technologies in the shipping industry rises, the company is gradually expanding its actual delivery scale in the field of ship electrification [3][6]

Core Viewpoint - CATL's marine battery system has received type approval from RINA, marking a significant step in its expansion into the global maritime market as the shipping industry accelerates its green transformation [1] Group 1: Company Achievements - CATL has developed a high-safety, long-life, and high-power battery system tailored for the harsh and complex environments of marine applications [1] - The company has previously obtained certifications from major classification societies in France, the USA, and Norway, enhancing its credibility in the global market [1] - CATL has delivered products to nearly 900 vessels, achieving several industry milestones, including the largest pure electric inland cruise ship and the first pure electric passenger ship certified by the China Classification Society [1] Group 2: Industry Trends - The electrification of ships is becoming a significant trend as the global shipping industry undergoes a green transition [1] - The recognition from an international maritime authority serves as a crucial "pass" for CATL to enter the global market [1]

Market Overview - The three major indices showed mixed performance, with the Shanghai Composite and Shenzhen Composite indices declining, while the ChiNext index saw a slight increase. The trading volume in the Shanghai and Shenzhen markets was 1.9 trillion, a decrease of 132.7 billion compared to the previous trading day. The Shanghai Composite index fell by 0.37%, the Shenzhen Composite index decreased by 0.39%, and the ChiNext index rose by 0.61% [1] Investment Opportunities - China International Capital Corporation (CICC) highlighted investment opportunities in the aviation sector during the off-peak season, predicting that 2026 will mark a significant turning point in supply and demand dynamics, leading to a peak passenger load factor of 87% and a moderate increase in ticket prices due to supply shortages [2] - CITIC Securities noted that the electrification of shipping is expanding lithium battery applications into new scenarios, maintaining a positive outlook on the lithium battery equipment market for the upcoming year. The demand for lithium batteries is expected to grow as their applications extend from land vehicles to aerial and maritime transport [3] - Open Source Securities emphasized the continuation of a dual-driven strategy combining technology and cyclical sectors, suggesting that the relative profitability and economic advantages of technology will persist amid a global tech cycle, while cyclical industries may benefit from policy shifts and inflation expectations [4]

Core Viewpoint - The report from CITIC Securities highlights the growing application of lithium batteries in various transportation sectors, particularly in maritime, aerial, and energy storage, driven by the advantages of high energy density, long cycle life, and rapid charge-discharge capabilities [1] Group 1: Lithium Battery Applications - The application of lithium batteries is expanding from land vehicles to eVTOL aircraft and maritime vessels, indicating a significant shift in transportation and energy sectors [1] - The increasing penetration of electrification in new scenarios such as aerial flight, water navigation, and renewable energy storage is expected to drive further demand for lithium batteries [1] Group 2: Technological Advancements - Breakthroughs in new technologies like solid-state batteries and sodium-ion batteries are anticipated to accelerate the electrification rates across various applications [1] - The mid-term acceptance of solid-state batteries is expected to be completed by the end of the year, leading to a convergence of technical solutions and increased certainty in the market [1] Group 3: Market Outlook - Major battery manufacturers and vehicle manufacturers are likely to initiate a new round of order tenders by the end of the year, indicating a positive outlook for lithium battery equipment in the upcoming year [1]

Core Viewpoint - The report from CITIC Securities indicates that the electrification of shipping is driving the application of lithium batteries into new scenarios, and there is optimism regarding the cross-year market for lithium battery equipment [1] Group 1: Lithium Battery Applications - The application scenarios for lithium batteries have expanded from land vehicles to eVTOL aircraft and now to maritime vessels, showcasing the versatility of lithium technology [1] - The penetration of lithium batteries into various fields is a result of their core advantages, including high energy density, long cycle life, and rapid charge and discharge capabilities, which align well with the development needs of different sectors [1] Group 2: Market Outlook - As the penetration rate of electrification in emerging scenarios such as aerial flight, maritime navigation, and new energy storage continues to rise, there is sustained optimism for further growth in lithium battery demand [1] - Breakthroughs in new technologies such as solid-state batteries and sodium-ion batteries are expected to accelerate the electrification rates across various scenarios [1] - The mid-term acceptance of solid-state batteries is anticipated to be completed by the end of the year, leading to a convergence of technical solutions and increasing certainty in the market [1] - Major battery manufacturers and vehicle manufacturers are expected to initiate a new round of order bidding by the end of the year, indicating a positive outlook for the lithium battery equipment market [1]

Core Viewpoint - The financial and asset management business of the company reported a revenue of RMB 910 million, a decrease of 21.30% year-on-year, and a net loss of RMB 735 million, which is a reduction in loss of 16.05% compared to the previous year [2][3]. Financial Performance - The financial and asset management business achieved a revenue of RMB 910 million, down from RMB 1.156 billion in the same period last year, reflecting a year-on-year decline of 21.30% [2][3]. - The net loss for this business segment was RMB 735 million, compared to a net loss of RMB 876 million in the previous year, indicating a year-on-year reduction in loss of 16.05% [2][3]. Business Operations - The financial and asset management business aims to build a financial service system aligned with the company's strategic positioning in the global manufacturing sector [2][3]. - The main operating entities include the company's financial services and the marine asset management platform, with losses primarily attributed to the latter's existing assets [2][3]. Shareholder Information - As of June 30, 2025, the total number of shareholders was 133,183, including 133,154 A-share shareholders and 29 H-share registered shareholders [3]. Stock Buyback Activity - On October 9, 2025, the company repurchased 2,410,750 A-shares at a total cost of approximately RMB 20 million, with prices ranging from RMB 8.25 to RMB 8.37 per share [5][6]. - The repurchase represents 0.0447% of the total share capital, and the company plans to hold these shares as treasury stock [5][6]. Corporate Governance Changes - The company’s board of directors proposed amendments to the articles of association, including the removal of references to "supervisors" and "supervisory board," transferring those responsibilities to the audit committee [6].