国海证券表示，钠离子电池作为具备低温性能、倍率性能等优势，且潜在经济性优异。龙头厂商积极推 进新品研发和产业化进程，持续与下游客户及上游供应商进行磨合迭代，产品性能不断优化，后续钠离 子电池增长空间广阔，研发制造实力强、下游客户卡位坚实的材料厂商及把握前沿技术的电池厂商均有 优质发展机遇，首次覆盖，给予钠离子电池行业"推荐"评级。建议关注积极布局钠离子电池主材的容百 科技、振华新材、当升科技（300073）、中科电气（300035），深耕集流体等环节，有望把握增量机遇 的鼎胜新材（603876）、中一科技（301150）、元力股份（300174），布局领先的电池厂商宁德时代 （300750）、亿纬锂能（300014）、鹏辉能源（300438）。 据QYResearch调研团队报告《全球钠离子电池市场报告2025—2031》显示，钠离子电池是一种主要依 靠钠离子在正负极之间移动来工作的二次电池(可充电电池)，与锂离子电池的工作原理类似。钠离子电 池是近年来兴起的新技术，有望部分取代锂电池。预计2031年全球钠离子电池市场规模将达到51.1亿美 元，未来几年年复合增长率CAGR为32.2%。 中国化学（60111 ...

钠离子电池行业：性能适配与经济性共振，有望迎来发展 新周期 20260105 摘要 钠离子电池并非全新概念，2022 年受锂价高涨驱动，宁德时代等企业 开始关注。虽然后续锂价下跌影响其应用，但在两轮车和储能示范项目 等领域仍有应用，肖尧电池和宁德时代"纳新"的发布推动其发展。 宁德时代正推进钠离子电池在动力领域的应用，海神储能等公司则在储 能领域探索锂钠混搭方案，尤其是在北美市场 AIDC 配储需求增加的背 景下，利用钠离子电池的倍率性能和安全性优势。 目前市场主流技术路线包括聚阴离子、层状氧化物和普鲁士蓝。聚阴离 子因原材料易得成为产业焦点，层状氧化物能量密度高但合成能耗高， 普鲁士蓝则面临稳定性挑战。中科海纳、振华、五矿新能等企业正在探 索这些技术路线。 随着宁德时代等龙头企业发力，供应链磨合迭代和产品性能优化，钠离 子电池产业未来几年内将迎来广阔发展空间。研发实力强且客户基础坚 实的材料厂商将获得发展机遇，该行业被给予推荐评级。 Q&A 国海证券的研究员谢培风在近期发布的钠离子电池行业专题报告中，主要探讨 了哪些内容？ 针对不同技术路线，目前市场上有哪些主流选择？ 目前市场上有三种主流技术路线：聚阴离子 ...

每经AI快讯，有投资者在投资者互动平台提问：12月中旬英伟达掌门黄仁勋在闭门会议提到储能将大 量采用钠离子电池。 请问公司在钠离子电池方面有哪些领先优势？ （文章来源：每日经济新闻） 同兴科技（003027.SZ）12月30日在投资者互动平台表示，目前，公司研发的钠电正极材料已通过公司 中试线试生产，具有低比表面积、高加工性能、高电化学性能、高安全性等综合优势，但目前暂未大规 模量产，请投资者注意风险。 ...

（文章来源：每日经济新闻） 每经AI快讯，华阳股份（600348.SH）12月18日在投资者互动平台表示，目前公司在钠离子电池领域与 中科海钠开展合作，双方共同推进正负极材料及电芯等项目的产业化进程。公司始终关注行业技术发展 动态，积极与各领域优秀企业保持沟通，致力于推动钠离子电池技术在多元场景的应用拓展。 ...

李先锋表示，100千瓦时级钠离子电池系统示范的实施验证了团队从电极材料、电解液、电芯到系统集 成各个环节的技术可靠性，为钠离子电池技术发展与推广应用提供典型案例和经验积累。 资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 中国科学院大连化学物理研究所10日发布消息称，该研究所储能技术研究部研究员李先锋、郑琼团队近 日开发出100kWh(千瓦时)级磷酸盐基钠离子电池储能系统，并在山东滨州临港化工产业园区实现并网 运行。 磷酸盐基钠离子电池是以磷酸盐作为正极材料组成的钠离子电池，具有高功率、高稳定和安全性优势， 是适用于储能应用的优选体系之一，但其产业化还面临着挑战。团队聚焦磷酸盐基钠离子电池 ...

Core Viewpoint - The State Intellectual Property Office of China has reported that China Petroleum & Chemical Corporation (Sinopec), Sinopec Petroleum and Chemical Research Institute Co., Ltd., and Shanghai Jiao Tong University have applied for a patent titled "A Hard Carbon Material and Its Preparation Method, Battery Anode, and Sodium-Ion Battery" with publication number CN121020544A, filed on May 2024 [1] Group 1 - The patent application involves a hard carbon material and its preparation method, which is relevant for battery anodes and sodium-ion batteries [1] - The method described in the patent includes specific steps, starting with the precursor at a temperature T [1]

Core Insights - The Chinese new energy vehicle (NEV) market continues to experience rapid growth, driven by policy support, product innovation, and increasing exports, positioning it as a core driver of the automotive industry [3] Group 1: Market Performance - In the first ten months of 2025, China's NEV production reached 12.672 million units, marking a year-on-year increase of 28.1%, with a cumulative penetration rate of 46.4% [2] - By September 2025, the market share of cars (CAR) was 45.1%, a decrease of 1.7 percentage points compared to the same period last year, while SUVs and MPVs accounted for 43.9% and 3.6% respectively [4] - The passenger vehicle segment saw significant growth, with sedans increasing by 15.1% and SUVs by 15.7%, while the MPV market surged by 39.3% [5] Group 2: Battery and Powertrain Developments - As of September 2025, the installed capacity of NEV power batteries reached 73.7 GWh, reflecting a year-on-year growth of 39.9% [6][7] - The average battery capacity per vehicle was 53.0 kWh, an increase of 17.3% year-on-year, with BYD, Tesla, and Xiaomi being the major contributors to battery installation [8] - In terms of battery cell structure, square cells accounted for 98.6% of the market, while cylindrical and pouch cells made up 1.0% and 0.4% respectively [9] Group 3: Battery Material Trends - The market share of lithium iron phosphate (LFP) batteries continues to grow due to their safety, cost-effectiveness, and longevity, with expectations to maintain dominance in the mid-to-low-end vehicle segment [10] Group 4: Key Players in Battery Supply - By September 2025, the top three battery manufacturers held a market share of 72.2%, with the top ten accounting for 95.4%. CATL led the market with a share of 42.1% [11] - Companies like Contemporary Amperex Technology Co., Ltd. (CATL) and others have shown significant growth, with increases of 102.0% and 143.2% respectively [11] Group 5: Electric Motor Supply Chain - The top ten electric motor suppliers accounted for 62.7% of the market share as of September 2025, with all major players experiencing a rise in supply [12] - Notably, companies like Saike Technology and Grebo have achieved rapid growth due to high sales volumes from brands like Wuling and Geely [12] Group 6: Sodium-Ion Battery Development - Sodium-ion battery technology is advancing quickly, focusing on improvements in cathode and anode materials, with advantages in low-temperature performance, fast charging, and safety [14][15] - Current applications for sodium-ion batteries include home energy storage, large-scale power stations, two-wheeled vehicles, electric cars, and backup power sources [16] - Several companies, including CATL and BYD, are accelerating the development of sodium-ion battery products [18]

Core Insights - The Chinese new energy vehicle (NEV) market continues to experience rapid growth, with a production volume of 12.672 million units from January to October 2025, representing a year-on-year increase of 28.1% and a cumulative penetration rate of 46.4% [2] Market Trends - The NEV market is driven by policy support, product innovation, and export growth, contributing to a high-quality development trajectory [2] - As of September 2025, the market share of cars (CAR) is 45.1%, down 1.7 percentage points year-on-year, while SUVs and MPVs account for 43.9% and 3.6%, respectively [3] Battery Installation Trends - The installed capacity of power batteries for NEVs reached 73.7 GWh in September 2025, marking a year-on-year growth of 39.9% [4] - The average battery capacity per vehicle is 53.0 kWh, up 17.3% year-on-year [4] Battery Market Structure - In the battery cell shape distribution, square cells dominate with a 98.6% share, while cylindrical and pouch cells account for 1.0% and 0.4%, respectively [5] - Lithium iron phosphate (LFP) continues to gain market share due to its safety, cost, and longevity advantages [5] Battery Supplier Dynamics - The top three battery manufacturers hold a market share of 72.2%, with CATL leading at 42.1% [6] - Companies like Contemporary Amperex Technology Co., Limited (CATL) and others have shown significant year-on-year growth, with increases of 102.0% and 143.2% for specific firms [6] Electric Motor Supplier Trends - The top ten electric motor suppliers account for 62.7% of the market share, with all companies in this group showing a month-on-month increase in supply [7] - Notable growth has been observed for companies like Saike Technology and Grebo, attributed to high sales volumes from brands like Wuling and Geely [7] Control System Supplier Insights - The top ten electronic control suppliers hold a combined market share of 67.8%, with some companies experiencing a decline in supply [8] - Huawei's supply is concentrated, with a significant share coming from the Seres brand [8] Sodium-Ion Battery Development - Sodium-ion battery technology is rapidly advancing, with key advantages in low-temperature performance, fast charging, and safety [9] - Applications for sodium-ion batteries include home energy storage, large-scale power stations, and electric vehicles, although challenges remain in energy density and lifecycle [9]

Core Insights - The report indicates that the Chinese new energy vehicle (NEV) market is experiencing rapid growth, with significant increases in production and battery installation capacity [2][7]. Group 1: Market Performance - In September 2025, the installed capacity of power batteries for NEVs reached 73.7 GWh, marking a year-on-year increase of 39.9% [7][12]. - From January to September 2025, the power battery market saw a year-on-year growth rate of 39.9%, driven by the continuous rise in NEV sales and penetration rates [7][12]. - The production of NEVs in China from January to October 2025 totaled 12.672 million units, reflecting a year-on-year growth of 28.1% and a cumulative penetration rate of 46.4% [2]. Group 2: Market Structure - As of September 2025, the market share of passenger cars (CAR) was 45.1%, a decrease of 1.7 percentage points compared to the same period last year, while SUVs and MPVs accounted for 43.9% and 3.6%, respectively [5]. - The truck market share has been expanding due to increased policy support and improvements in battery range, with commercial vehicles like trucks showing a year-on-year growth of 94.6% [5]. Group 3: Battery Technology and Companies - In terms of battery cell types, square cells accounted for 98.6% of the market, while cylindrical and pouch cells made up 1.0% and 0.4%, respectively [9]. - Lithium iron phosphate (LFP) batteries continue to gain market share due to their safety, cost, and longevity advantages, with expectations to maintain dominance in the mid-to-low-end vehicle segment [9]. - The top three battery manufacturers held a market share of 72.2%, with CATL leading at 42.1%, followed by BYD and Contemporary Amperex Technology Co., Ltd. (CALB) [12][13]. Group 4: Electric Motor and Control Systems - The top ten electric control suppliers accounted for 67.8% of the market share, with notable declines in supply volumes for some companies like BYD and Tesla [21]. - The leading electric motor companies saw an increase in supply volume, with significant contributions from companies like Saik Technology and Grebo, benefiting from high sales volumes of their partnered brands [15][18]. Group 5: Sodium-Ion Battery Development - Sodium-ion battery technology is rapidly advancing, with key advantages in low-temperature performance, fast charging capabilities, and cost-effectiveness [29][30]. - Current applications for sodium-ion batteries include home energy storage, large-scale energy stations, electric vehicles, and backup power systems, although challenges remain in industry maturity and energy density [31][32].

Core Insights - The report highlights the rapid growth of China's new energy vehicle (NEV) market, with a production volume of 12.672 million units from January to October 2025, representing a year-on-year increase of 28.1% and a cumulative penetration rate of 46.4% [2] Group 1: Market Trends - The NEV market in China continues to show strong growth, driven by policy support, product innovation, and increased exports, positioning it as a core driver of the automotive industry [2] - In terms of vehicle types, as of September 2025, passenger cars accounted for 45.1% of the market share, while SUVs and MPVs held 43.9% and 3.6% respectively, with commercial vehicles like trucks and buses at 3.9% and 3.2% [3] Group 2: Battery Technology - The installed capacity of power batteries for NEVs reached 73.7 GWh in September 2025, marking a year-on-year growth of 39.9% [4] - The average battery capacity per vehicle was 53.0 kWh, reflecting a year-on-year increase of 17.3% [4] - The market structure for battery cells shows that square cells dominate with a 98.6% share, while lithium iron phosphate (LFP) continues to grow in market share due to its safety, cost, and longevity advantages [5] Group 3: Battery Suppliers - The top three battery manufacturers held a market share of 72.2% as of September 2025, with CATL leading at 42.1% [6] - Companies like Contemporary Amperex Technology Co., Limited (CATL) and others have shown significant growth, with some companies like Zhongchuang Innovation and Ruipu Lanjun experiencing year-on-year increases of 102.0% and 143.2% respectively [6] Group 4: Electric Motor Suppliers - The top ten electric motor suppliers accounted for 62.7% of the market share, with all companies in this group showing a month-on-month increase in supply [7] - Notable performers include Saike Technology, which benefited from high sales of Wuling vehicles, and Grebo, which saw growth due to its partnership with Geely [7] Group 5: Sodium-Ion Battery Development - Sodium-ion battery technology is rapidly advancing, with key advantages in low-temperature performance, fast charging capabilities, and safety [9] - Current applications for sodium-ion batteries include home energy storage, large-scale energy storage, two-wheeled vehicles, electric vehicles, and backup power sources [9] - Major companies like CATL, Zhongke Haina, and BYD are accelerating their research and development efforts in sodium-ion battery products [9]