比亚迪/宁德时代都出了院士 11月21日，2025年两院院士增选结果正式揭晓，共有144人当选。其中，共选举产生中国科学院院士73人，选举产生中国工程院院士71人。 在新当选两院院士中，女性科学家共13人。此外，2025年中国科学院新当选外籍院士27人，中国工程院新当选外籍院士24人。 本次增选后，中国科学院院士总数为908人，外籍院士总数为173人；中国工程院院士总数为1002人，外籍院士总数为148人。 在上述公布的名单中，比亚迪股份有限公司的廉玉波当选中国工程院机械与运载工程学部院士；宁德时代新能源科技股份有限公司的吴凯当选中 国工程院能源与矿业工程学部院士。 时代联合45Ah大圆柱磷酸铁锂电芯走向全球 11月21日，湖南外贸特色产业供需对接会（邵阳专场）隆重举行。湖南时代联合新能源有限公司携以45Ah大圆柱磷酸铁锂电芯参展，与众多海 外客商面对面洽谈合作。 展会现场，时代联合 45Ah 大圆柱磷酸铁锂电芯便凭借适配性强、性能稳定的优势吸引了众多境外采购商驻足。 国轩高科新品正式交付大众 11 月 20 日国轩高科 UC 标准电芯量产交付仪式 顺利举行， 将在 2026 年 — 2032 年向大众 供货 ...

Group 1 - RuiPu LanJun completed H-share placement, raising approximately HKD 794 million for working capital and business development [6] - The placement involved the sale of 60 million shares at HKD 13.35 per share, representing about 6.86% of the issued H-shares before the placement [5] - The fifth generation of lithium iron phosphate batteries has begun mass production at CATL, achieving breakthroughs in energy density and cycle life [7] Group 2 - Haibo Shichuang signed a ten-year strategic cooperation agreement with CATL, committing to purchase a cumulative total of 200 GWh of electricity from 2026 to 2028 [8] - Pylon Technologies signed a contract for a 2 GWh energy storage battery project in Hefei, with a total investment of CNY 1 billion [9] - Guizhou Zhaoke Energy's lithium battery production project has been completed, with an annual capacity of 2 GWh [10] Group 3 - The first phase of the Times Chang'an capacity expansion project has been put into production in Yibin, increasing CATL's capacity from 180 GWh to 210 GWh [11] - Chuangneng New Energy has entered the automotive sector by acquiring the Weima factory, allowing it to bypass lengthy approval processes for production qualifications [12][13] - Shangtai Technology plans to invest in a 200,000-ton anode material project with an estimated total investment of approximately CNY 4.07 billion [15] Group 4 - Ganfeng Lithium's PPGS lithium salt lake project in Argentina has received a key environmental impact assessment report, marking significant progress [16] - A new silicon-carbon anode material project has been signed in Inner Mongolia, with a planned investment of CNY 5 billion [17] - GCL signed a contract for a 150,000-ton lithium battery cathode material project in Sichuan, expected to be operational by the end of 2025 [18] Group 5 - Haike New Source signed a strategic cooperation agreement with Kunlun New Materials for the supply of 596,200 tons of electrolyte solvents from 2026 to 2028 [20] - CATL invested in a silicon-carbon anode material company, increasing its stake in the industry [21] - Hunan Youneng reported a 64.86% increase in phosphate cathode material sales in the first three quarters, totaling 784,900 tons [22] Group 6 - Zhongding Intelligent has re-applied for listing on the Hong Kong Stock Exchange, with revenue projections showing steady growth from CNY 1.643 billion in 2022 to CNY 1.798 billion in 2024 [24] - Shenzhen Zhongji has initiated IPO counseling for listing on the Beijing Stock Exchange, focusing on lithium battery production automation [25] - Haimeixing has supplied various lithium battery process equipment to Zhongxin Innovation, strengthening their long-term partnership [26] Group 7 - A 400,000-ton battery recycling project has been approved in Anhui, aimed at reusing waste batteries [28] - A new recovery technology developed in South Korea can recover over 95% of nickel and cobalt from used batteries, significantly improving efficiency and environmental impact [29] - Yiwei Lithium Energy's chairman discussed the core challenges in battery technology, emphasizing lifecycle value and performance in extreme cold [30] Group 8 - GAC and CATL signed a comprehensive strategic cooperation agreement to enhance collaboration in the new energy sector [32] - Li Bin has stepped down as chairman of NIO Battery Technology, a move coinciding with the company's push for profitability [33] - XPeng Motors' market capitalization surpassed Geely's, driven by strong performance in AI and robotics product launches [34]

（文章来源：证券日报） 证券日报网讯百川股份11月12日在互动平台回答投资者提问时表示，子公司宁夏百川新材料有限公司投 资建设了20000吨/年的锂电池资源化利用装置，并参与起草了《退役动力电池拆解放电技术与安全规 范》《废旧锂离子电池极片材料回收技术规范》《废旧动力电池有价金属回收率计算与检测方法》《废 旧锂离子电池物理再生利用拆解技术规范》等相关团体标准。 ...

Core Viewpoint - Huazi Technology (300490) announced on October 23 that its subsidiary, Jing Shi Electromechanical, produces OCV testing machines and capacity testing equipment that can be applied in lithium battery recycling processes [1] Company Summary - Huazi Technology's subsidiary, Jing Shi Electromechanical, is involved in the production of equipment relevant to lithium battery recycling [1]

Core Viewpoint - Guangdong Jinseng New Energy Co., Ltd. is seeking to list on the Hong Kong Stock Exchange, marking its second attempt after a previous application lapsed in December 2024 [1] Company Overview - Jinseng New Energy is a leading global provider of lithium battery recycling and regeneration solutions, valued at 7.3 billion yuan as of 2025 and recognized as a unicorn by Hurun [2][8] - The company was co-founded by the Li brothers from Guangdong, who collectively control approximately 55.05% of the voting rights [3] Business Model and Capabilities - Jinseng New Energy has developed an integrated ecosystem for lithium battery recycling, capable of recovering all valuable materials from used batteries, including lithium, nickel, cobalt, graphite, manganese, and iron [4] - The company has established end-to-end production capabilities, covering battery disassembly, production of cathode and anode materials, and repurposing used batteries for light applications [5] Market Position - As of 2024, Jinseng New Energy is the second-largest lithium battery recycling and regeneration company globally and the largest third-party provider in this sector [5] - The company operates three production facilities in Guangdong and Jiangxi provinces, with plans to increase its processing capacity for retired ternary lithium batteries to 280,000 tons by 2025 [5] Financial Performance - The global lithium battery recycling market is projected to grow rapidly, with an expected compound annual growth rate (CAGR) of 48.1% from 2024 to 2031 [6] - Jinseng New Energy's revenue from recycled products, including lithium carbonate and nickel sulfate, accounted for over 79% of total revenue in the first half of 2025 [6] - The company's revenue for 2022, 2023, and 2024 was 2.905 billion, 2.892 billion, and 2.157 billion yuan, respectively, with corresponding net profits of 151 million, -473 million, and -344 million yuan [6] Investment and Financing - Jinseng New Energy has raised a total of 1.36 billion yuan through four rounds of financing, with notable investors including CICC Capital and Bosch [7]

Core Viewpoint - Guangdong Jinseng New Energy Co., Ltd. (hereinafter referred to as "Jinseng New Energy") has submitted its IPO application to the Hong Kong Stock Exchange, indicating a pressing need for financing despite previous unsuccessful attempts to list on both A-shares and Hong Kong stocks [1][6]. Group 1: Company Overview - Jinseng New Energy is a provider of lithium battery recycling and regeneration solutions, offering products such as lithium carbonate, nickel sulfate, and cobalt sulfate, which are widely used in electric vehicles, energy storage systems, and consumer electronics [3][6]. - According to a report by Frost & Sullivan, Jinseng New Energy is the second-largest lithium battery recycling and regeneration company globally and the largest third-party provider in this sector as of 2024 [3][6]. Group 2: Financial Performance - The financial performance of Jinseng New Energy has been declining, with revenues of approximately 2.905 billion yuan, 2.892 billion yuan, and 2.157 billion yuan from 2022 to 2024, respectively, showing a continuous decrease [3]. - The company reported net profits of 151 million yuan in 2022, a loss of 471 million yuan in 2023, and a loss of 344 million yuan in 2024, with no profitability achieved in the first half of 2025, where revenue was about 937 million yuan, down from 995 million yuan in the same period the previous year [3][4]. Group 3: Financial Pressure and Debt - As of June 30, 2025, Jinseng New Energy had interest-bearing bank loans and other borrowings totaling 2.1 billion yuan, with 1.8 billion yuan due within one year [4]. - The company's asset-liability ratio has increased significantly, standing at approximately 48.5% at the end of 2022, 61.6% at the end of 2023, and 74.8% at the end of 2024, with a slight decrease to 73.3% in the first half of 2025 [4]. Group 4: Market Position and Valuation - Jinseng New Energy has completed five rounds of financing since 2021, raising a total of 1.508 billion yuan, with the latest round in May 2025 raising 148 million yuan at a pre-investment valuation of approximately 10.2 billion yuan [7]. - The company is currently valued at over 10 billion yuan, ranking 1183rd on the 2025 Hurun Global Unicorn List [5][7]. Group 5: Ownership Structure - The company was founded by the Li brothers, who collectively control approximately 55.69% of the voting rights through various agreements and partnerships [7].

Core Viewpoint - Guangdong Jinseng New Energy Co., Ltd. (hereinafter referred to as "Jinseng New Energy") has submitted its IPO application to the Hong Kong Stock Exchange, indicating a pressing need for financing despite previous unsuccessful attempts to list on both A-share and Hong Kong markets [1] Financial Performance - Jinseng New Energy has not achieved profitability in the first half of the year, with revenues declining from approximately 29.05 billion yuan in 2022 to 21.57 billion yuan in 2024, and corresponding net profits showing a downward trend from 1.51 billion yuan to -3.44 billion yuan [4] - Cumulative losses for the company from 2023 to the first half of 2025 are approximately 9.59 billion yuan, with a reported revenue of about 9.37 billion yuan in the first half of 2025, down from 9.95 billion yuan in the same period last year [4] Financial Pressure - As of June 30, 2025, Jinseng New Energy has interest-bearing bank loans and other borrowings amounting to 2.1 billion yuan, with 1.8 billion yuan due within one year [5] - The company's debt-to-asset ratio has increased significantly, from approximately 48.5% in 2022 to 74.8% in 2024, with a slight decrease to 73.3% in the first half of 2025 [5] Market Position - Jinseng New Energy is recognized as the second-largest lithium battery recycling and regeneration company globally, and the largest third-party lithium battery recycling and regeneration enterprise, according to a report by Frost & Sullivan [6] - The company has a valuation exceeding 10.2 billion yuan based on a recent investment round, which is approximately 30 billion yuan higher than its valuation listed in the 2025 Hurun Global Unicorn List [8] Ownership Structure - The founding brothers, Li Sen, Li Xin, Li Yan, Li Wang, and Li Yao, collectively control 55.69% of the voting rights in Jinseng New Energy [8]

Core Viewpoint - The company is focusing on lithium battery recycling and aims to leverage its technological capabilities to enhance its position in the recycling industry, while exploring strategic partnerships and potential growth avenues in this sector [1]. Group 1: Business Strategy - The company is committed to becoming a world-class technology firm in the fields of coal selection, mineral selection, and resource recycling [1]. - The current focus of the lithium battery recycling business is on the pre-treatment stage of used lithium batteries, aiming to empower both incremental recovery enterprises and wet recovery companies [1]. - The company is actively seeking high-quality targets that complement its technological, product, or market advantages for potential investments or acquisitions [1]. Group 2: Market Position and Future Potential - The lithium battery recycling technology is still in the investment phase and has not yet generated revenue [1]. - The company is exploring growth opportunities through technological innovation and resource integration, although future contributions to performance will be influenced by market conditions, policy directions, and business maturity [1]. - The company emphasizes its commitment to strict information disclosure obligations and will keep investors informed of significant developments [1].

Group 1 - BYD's new energy vehicle sales reached 373,600 units in August, a slight increase from 373,100 units in the same month last year, with cumulative sales of approximately 2.864 million units from January to August, representing a year-on-year growth of 23% [4] - In August, BYD's total installed capacity for power and energy storage batteries was about 23.175 GWh, with a cumulative total of approximately 180.051 GWh from January to August [5] - EVE Energy's solid-state battery production facility in Chengdu officially launched, with an annual production capacity of nearly 500,000 cells planned after full production [6] Group 2 - CATL's joint project in Indonesia has commenced, with a total investment of nearly $6 billion, aiming to produce batteries for 200,000 to 300,000 electric vehicles annually [7] - CATL's Jiangsu project has officially started production, with the LY7 project achieving the fastest construction speed within the company, and the LY8 project set to be completed by March next year [8] - A 2 GWh energy storage contract was signed between China Automotive New Energy, POSCO International, and FAW Import and Export Company, marking the beginning of strategic cooperation in the energy storage sector [9] Group 3 - LG Energy Solution signed a supply agreement with Mercedes-Benz for a total capacity of 107 GWh, covering the period from 2028 to 2037 [10] - SK On secured a 7.2 GWh energy storage contract with Flatiron Energy Development, with plans to convert part of its Georgia factory's production line to energy storage systems [12] - A 30 GWh battery production project in Lanzhou has officially started construction, with an expected annual revenue of 4.1 billion yuan upon completion [13] Group 4 - Huizhou Youneng expects to ship approximately 1 million tons of phosphate materials this year, with a 55.38% year-on-year increase in shipments in the first half of 2025 [18] - Guizhou Anda Technology is investing 1 billion yuan to build a 60,000-ton/year lithium iron phosphate project, with environmental facilities and testing centers included [19] - Deyang Nano has developed a fifth-generation high-performance lithium iron phosphate material, now entering trial production [20] Group 5 - Bettery's CVD silicon-carbon anode materials are expected to enter mass production by 2025, with significant growth in sales of anode materials in the first half of 2025 [22] - Jiangyin Fuli Ying plans to establish a 1,000-ton silicon-carbon anode material project, with a total investment of 10 million yuan [23] - A major project led by Yifei Laser for precision laser welding technology for large cylindrical batteries has been initiated, aiming to enhance production processes [25] Group 6 - Xinyu Ren reported a net loss of 72.4 million yuan in the first half of 2025, with a 45.57% decline in revenue [26] - Xianhui Technology received a new order for a battery production line from a global leader in the battery industry, marking a significant expansion in Hungary [27] - Xiaomi initiated economic compensation against its supplier Amperis due to safety issues with certain power bank models [36][37] Group 7 - Chery Group achieved record exports in August, selling 130,000 vehicles, contributing to a 14.5% year-on-year increase in total sales from January to August [38] - CATL has exited its investment in Finnish Valmet Automotive, selling its 20.6% stake due to lower-than-expected electric vehicle market demand [39] - General Motors announced temporary layoffs affecting approximately 360 employees at its electric vehicle factory in Detroit [40] Group 8 - NIO reported a record high of 31,305 vehicle deliveries in August, a 55.2% year-on-year increase, surpassing Li Auto for the first time since November 2022 [41]

Core Viewpoint - The strategic cooperation between Tianqi Co., Ltd. and EVE Energy Co., Ltd. aims to build a closed-loop lithium battery recycling industry chain to mitigate market risks amid declining lithium prices and increasing competition in the lithium battery industry [1][2]. Group 1: Strategic Cooperation - Tianqi Co., Ltd. and EVE Energy Co., Ltd. signed a ten-year strategic cooperation framework agreement to establish a comprehensive lithium battery "manufacturing-application-reverse recycling-reuse" closed-loop system [1][2]. - The cooperation encompasses six major areas, including the establishment of an innovative pricing mechanism for recycled key materials, aiming to enhance their bargaining power in the market [2][3]. Group 2: Market Challenges - The lithium battery industry is currently facing a significant downturn, with battery-grade lithium carbonate prices dropping from over 100,000 yuan per ton at the beginning of the year to approximately 78,350 yuan per ton [2]. - The industry is experiencing severe internal competition, prompting regulatory bodies to signal the need for improved market order and management [2]. Group 3: Financial Performance Concerns - EVE Energy's 2025 semi-annual report indicated a revenue of 28.17 billion yuan, a year-on-year increase of 30.06%, but a net profit attributable to shareholders of only 1.605 billion yuan, a decline of 24.9% [4]. - Tianqi Co., Ltd. reported a revenue of 137 million yuan in its lithium battery recycling business, but continues to face ongoing gross profit losses due to raw material supply shortages and low metal prices [4]. Group 4: Competitive Landscape - Other leading companies, such as CATL and Greeenme, are also accelerating their recycling and industry chain integration efforts, which may limit the market space for Tianqi and EVE Energy's cooperation [5].