根据市场公开信息及7月24日披露的机构调研信息，知名私募辰翔投资近期对1家上市公司进行了调研， 相关名单如下： 1）华盛锂电 （辰翔投资参与公司特定对象调研） 调研纪要：华盛锂电表示，尽管固态电池等新技术可能对现有液态电池有冲击，但多种技术路线将长期 共存，公司也在开发固态电池材料。公司采用液相法制备高纯度硫化锂，该工艺具有纯度高、收率高等 优点。公司年产14,000吨VC、FEC产品，2024年产量和销量均有所增长。公司产品在纯度、色度、水分 等关键指标上有明显优势，并主导起草了相关标准。公司将继续专注于锂电池电解液添加剂的研发和生 产，拓展新材料领域，加大科研投入。 机构简介： 辰翔投资为在中国基金业协会注册备案的私募投资基金管理人，中国基金业协会会员单位，迄今成立十 年，基金牌照化运营七年，具备投顾资质（可向银行、信托、证券、基金等金融机构提供投资建议，沪 深网下双边打新资质）。 长期稳健经营 投资业绩优异：公司成立十年来，累积发行备案管理产品二十 余只，累积参与的金融资产总规模超过178.65亿元，期间未出现任何重大风险性事件。目前，存量管理 产品十余只，存量管理规模10亿元左右，以股票多空策略为主。 ...

Group 1: Industry Overview - The electrolyte additive industry can be divided into conventional additives and new additives, with the latter emerging to meet the evolving performance demands of lithium batteries [4] - Conventional additives like VC and FEC were initially used in consumer electronics but have gradually been applied in power and energy storage batteries to enhance performance [5] - New additives, represented by compounds such as MMDS and DTD, are primarily used in power batteries to improve high voltage, low temperature cycling, and rate performance [6] Group 2: Market Trends - The proportion of new additive shipments in China's lithium battery electrolyte market increased from 12.7% in 2020 to 14.5% in 2022, with projections of approximately 18%, 22%, and 25% from 2023 to 2025 [6] - In 2022, China's new electrolyte additive shipments reached 0.7 million tons, a year-on-year increase of 75%, with expectations for global shipments to reach 4.9 million tons by 2025 [7][14] - The demand for new functional additives is expected to grow due to increasing requirements for battery safety, energy density, and performance [7] Group 3: Technological Advancements - New additives are becoming core materials for enhancing lithium battery performance, characterized by their ability to significantly improve certain battery properties while maintaining compatibility with other materials [8] - The production of new additives requires high technical standards, including purity and moisture control, leading to a high barrier for entry in the market [9] - The variety of new additives is expanding to meet diverse battery system requirements, with ongoing research and development in various chemical compounds [10] Group 4: Competitive Landscape - The domestic market for lithium battery electrolyte additives is seeing increased competition, with several companies like Saintai Materials and Suzhou Qitian actively expanding their production capacities [19] - The market concentration is rising, with the top five domestic companies holding approximately 53.5% market share in 2022, driven by technological advancements and scale [15] - Chinese manufacturers are increasingly replacing foreign suppliers, with projections indicating a rise in domestic market share from 50.8% in 2023 to 67.4% by 2025 [14] Group 5: Key Players - Major players in the industry include Korean company Chemtros, Japanese Mitsubishi Chemical, and Ube Industries, which have historically dominated the market [20][21][22] - Domestic companies such as Suzhou Qitian and Zhejiang Tianshu are also significant contributors, focusing on the development and production of various lithium battery electrolyte additives [23][24] - Saintai Materials has established itself as a key player with a strong patent portfolio and ongoing expansion plans [26][27]