当地缘政治、贸易壁垒、金融波动、技术变革等多方面挑战正在重塑全球经贸格局时，如何开展本地化策略、如何推进供应链的智能化建设、如何制定出海 战略等，成为追求全球化发展的中国企业尤为关注的话题。 7月10日，中欧国际工商学院在北京举办的第五届"智荟中欧·北京论坛"聚焦"全球经贸格局重构下的企业策略"展开讨论。 中金公司原总裁兼首席执行官朱云来，神州信息服务集团联席董事长、原中国银行副行长王永利，中欧国际工商学院特聘教授、欧洲理事会前主席、比利时 前首相夏尔•米歇尔（Michel Charles）以及多位企业界代表出席该论坛。 聚焦关键变量 面对全球供应链重组的压力，中金公司原总裁兼首席执行官、清华大学管理实践访问教授朱云来在主旨演讲中表示，中国强大的生产能力、物流能力、人力 资源使我们依然可以占据优势，但要注意以互利模式，更精准地对接海外市场需求。在"双循环"格局下，把"国际牌"打好，提升与世界谈判的技巧，中国企 业仍有大量系统性向外发展的机会。 对于国际投资和货币体系，朱云来表示，从美国到全球都面临投资回报率的系统性下降，这背后需要深究的是，长期过度依赖促进增长的政策是否导致了规 模的过度膨胀与效率的相对下降。 ...

证券代码：688779 证券简称：五矿新能 公告编号：2025-037 ? 案件所处的诉讼阶段：一审判决。 ? 上市公司所处的当事人地位：五矿新能源材料（湖南）股份有限公司（以 下简称"公司"）的全资子公司湖南长远锂科新能源有限公司、金驰能源材料有 限公司为原告。 ? 涉案的金额：人民币 180,560,894.43 元及相关利息。 ? 是否会对上市公司损益产生负面影响：公司根据审慎性原则按照会计准 则已在 2024 年年度报告中对本次诉讼事项计提了相关坏账准备。根据一审判决 结果，子公司将获得一定经济损失及合理开支赔偿，或将增加公司本期利润，具 体以审计为准。由于本次判决为一审判决，截至本公告披露日尚处于上诉期内， 最终结果尚存在不确定性，对公司造成的具体影响需以生效判决的实际执行情况 为准。公司将根据本次诉讼事项的进展情况及时履行信息披露义务，敬请广大投 资者注意投资风险。 一、诉讼基本情况 转债代码：118022 转债简称：锂科转债 五矿新能源材料（湖南）股份有限公司 关于全资子公司提起诉讼的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、 ...

Core Insights - The global economic and trade landscape is undergoing significant structural adjustments, with challenges arising from geopolitical tensions, trade barriers, financial volatility, and technological changes [1][3] - Companies need to develop resilience, innovate, and create safer global supply chains while leveraging regional cooperation and exploring emerging markets to secure value and influence in uncertain international markets [3][4] Group 1: Globalization Challenges and Strategies - The future of globalization is characterized by resilience, integration, innovation, and rules, necessitating companies to move beyond traditional thinking [3] - The systemic decline in investment returns globally, particularly in the U.S., raises questions about the sustainability of growth policies and their impact on efficiency [4][6] - The U.S. trade deficit is exacerbated by debt reliance, and tariffs may not effectively address trade imbalances, highlighting the importance of adapting supply chains [6] Group 2: Digital Currency and Regulatory Insights - The rise of stablecoins is reshaping the monetary landscape, with regulatory frameworks emerging to ensure their stability and utility as payment tools [7][8] - China is encouraged to accelerate the development of its digital currency to compete with stablecoins, emphasizing the need for effective legislation and international coordination [8] Group 3: Localization and Global Operations - Companies like GE Aviation emphasize the importance of localization in their success in China, with significant investments in local talent and infrastructure [11] - Ganfeng Lithium's global expansion reflects the necessity for Chinese firms to respect local cultures and regulations while leveraging their competitive advantages [11] - Lenovo's strategy combines Chinese manufacturing strengths with digital management to navigate global market uncertainties [12] Group 4: Internationalization and Corporate Strategies - China National Petroleum Corporation's internationalization strategy involves a three-phase approach, focusing on global standardization while maintaining local responsiveness [13] - The need for Chinese enterprises to innovate beyond mere product exports to achieve sustainable growth is highlighted, with examples of successful international strategies [17] Group 5: Economic Outlook and Future Growth - Despite challenges, global trade has maintained a stable share of GDP, with China showing strong performance in exports, although structural issues remain [16] - The future of China's economy relies on both macroeconomic policy adjustments and the ability of enterprises to find differentiated paths in the new phase of globalization [17]

Market Overview - The Hang Seng Index rose by 1.09%, reclaiming the 24,000-point mark, as market concerns over U.S. tariffs were deemed exaggerated [1] - U.S. President Trump signed an executive order extending the tariff delay period to August 1, with various countries facing tariffs ranging from 25% to 40% [1] - China expressed confidence in its ability to counter external economic pressures, with Premier Li Qiang highlighting the country's resources and strategies [1] Trade Relations - U.S. Treasury Secretary Yellen indicated plans for upcoming discussions with Chinese officials to enhance trade relations, which typically results in positive market reactions [2] - Stocks related to North American business showed significant gains, with companies like Tigermed and Zai Lab experiencing increases of nearly 12% and over 6%, respectively [2] Cryptocurrency Developments - Jin Yong Investment announced a strategic partnership with AnchorX to issue a stablecoin pegged to offshore RMB, which is expected to play a significant role in the Belt and Road Initiative [2] - The stablecoin's anticipated launch has led to a surge in market interest, with Jin Yong Investment's stock rising over 552% [2] Industry Trends - The photovoltaic sector is experiencing price increases due to recent policy changes, with major companies like GCL-Poly and Xinte Energy seeing stock gains of over 8% [3] - The lithium industry is also benefiting from similar trends, with companies like Tianqi Lithium and Ganfeng Lithium showing strong performance [3] Smartphone Market Insights - According to Counterpoint Research, China's smartphone sales are expected to see slight year-on-year growth, with Huawei projected to increase sales by 12% [4] - Apple has recently outperformed domestic brands in the Chinese market, marking a significant shift in consumer preferences [4] International Expansion - Cha Bai Dao has successfully entered the South Korean market, with over 10 stores opened and plans for rapid expansion [5][6] - The company is expected to achieve profitability in its overseas operations, contributing to a dual-driven growth strategy [6] AI and Technology Developments - Industrial Fulian reported a projected net profit increase of 47.72% to 52.11% for Q2 2025, driven by strong demand for AI infrastructure [6] - New AI models and collaborations are being launched, with companies like Kuaishou and Ping An Good Doctor making significant advancements in AI applications [8] Gaming and Tourism Sector - Macau's tourism numbers have exceeded 20 million visitors this year, leading to positive market sentiment for gaming stocks, which saw gains of over 4% [7] Wind Energy Sector - Goldwind Technology reported a 26.1% year-on-year increase in orders, with significant growth in international markets [9] - The company has a robust order backlog of 51,091.24 MW, reflecting a 51.81% increase compared to the previous year [10] - Goldwind's international business spans 47 countries, with a strong presence in North America, Australia, and South America [10][11]

7月3日午间，《辟谣财知道》注意到，针对"财务造假即将暴雷"的市场传闻，锂业巨头赣锋锂业 （002460.SZ/1772.HK）在投资者互动平台明确回应称，该信息为不实信息，目前公司的经营及财务情 况稳定。 2025年一季度，公司延续亏损态势，归母净利润虽同比收窄18.93%，但仍亏损3.56亿元。此外，赣锋锂 业一季度的经营活动现金流量净额出现大幅下跌，从去年同期的1.18亿元变为-15.71亿元，同比大幅下 滑1422.07%。 对此，赣锋锂业解释称，受锂价下跌和国内销售占比上升影响，本期销售商品及提供劳务收到的现金同 比减少；应收款项融资期末余额较期初余额增加15.92亿元，因报告期内票据贴现利率较高，基于财务 成本优化考虑，公司主动控制票据贴现规模。 除了业绩压力外，赣锋锂业也面临不小的资金压力。财报显示，截至2024年末，公司拥有短期借款 90.69亿元，一年内到期的非流动负债为69.59亿元，长期借款则高达152.59亿元。而公司的货币资金仅 为59.44亿元。其账面货币资金甚至无法覆盖短期借款。 此外，赣锋锂业还存在历史合规记录瑕疵。2024年7月，赣锋锂业因内幕交易*ST江特股票被江西证监 局 ...

2025年07月03日 国泰君安期货商品研究晨报 观点与策略 | 黄金：降息预期升温 | 3 | | --- | --- | | 白银：继续冲高 | 3 | | 铜：美元承压，价格坚挺 | 5 | | 锌：区间运行 | 7 | | 铅：中期偏强 | 8 | | 锡：宏观环境带动上行 | 9 | | 镍：矿端支撑有所松动，冶炼端限制上方弹性 | 11 | | 不锈钢：库存边际小幅去化，钢价修复但弹性有限 | 11 | | 碳酸锂：治理内卷式竞争主要影响下游汽车行业需求，关注宏观情绪扰动放大波动率 | 13 | | 工业硅：短期情绪扰动，关注上方空间 | 15 | | 多晶硅：盘面预计冲高回落 | 15 | | 铁矿石：预期反复，宽幅震荡 | 17 | | 螺纹钢：宏观情绪提振，偏强震荡 | 18 | | 热轧卷板：宏观情绪提振，偏强震荡 | 18 | | 硅铁：宏观情绪提振，震荡偏强 | 20 | | 锰硅：宏观情绪提振，震荡偏强 | 20 | | 焦炭：反内卷信号发酵，震荡偏强 | 22 | | 焦煤：反内卷信号发酵，震荡偏强 | 22 | | 动力煤：日耗修复，震荡企稳 | 24 | | 原木：主力切换，宽 ...

证券代码：002460 证券简称：赣锋锂业 江西赣锋锂业集团股份有限公司投资者关系活动记录表 编号：2025-005 固态电池和储能业务：公司通过技术创新提高资源利用 率和产品附加值，以前瞻性技术布局与全链路业务协同优势， 形成固态电池全链路布局，成为具备固态电池上下游一体化 能力的企业。公司积极开展新型储能业务，通过设立深圳易 储和广东惠储，以"用户侧分布式储能+电网侧集中式储能" 双轮驱动为核心发展储能业务，构建覆盖全产业链的储能生 态体系，积极拓展国内外储能电站投资与运营业务。 可持续发展方面：公司提高生产及供应链的电动化程度， 通过技术创新实现降低能耗，减少排放。加快尾渣高价值副 产品的技术开发和生产，实现环保效应和经济效益共同提高。 获得了多项 ESG 相关奖项，MSCI 评级维持 A 级，纳入恒生 可持续发展指数的数量增加至 5 个，通过中诚信绿金 ESG 评 级模型，公司 2024 年 ESG 评级为 A+级。公司将继续秉承可 持续发展的理念，通过不断创新和优化，进一步提升公司的 ESG 绩效，为实现全球绿色发展的目标贡献力量。 公司将继续秉持"奋斗者精神"，以技术创新为驱动，以 可持续发展为目 ...

碳酸锂期货日报 行业 日期 2025 年 6 月 19 日 研究员：张平 021-60635734 zhangping@ccb.ccbfutures.com 期货从业资格号：F3015713 021-60635729 yufeifei@ccb.ccbfutures.com 期货从业资格号：F3025190 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 有色金属研究团队 研究员：余菲菲 研究员：彭婧霖 请阅读正文后的声明 ＃summary＃ 每日报告 一、 行情回顾与操作建议 数据来源：Wind，建信期货研究发展部 碳酸锂期货冲高回落，总持仓下降 7855 手，盘面近月合约 BACK 结构小幅扩大至 340，现货市场持平，现货电碳略低于盘面 07 价格，澳矿和锂云母矿价持平，磷 酸铁锂价格持平，而三元材料价格受镍钴价格下跌而下跌，上游矿价短期跌势放 缓，若矿价能止跌产业链降价潮将会缓解。当前高库存高供应压力是碳酸锂期货 价难反弹的主要原因，6 月以来锂价跌势放缓但总持仓居高不下，空头力量减弱， 同时在盘面交割利润持续为负的情况下，交易所 ...

Core Insights - Wuhan has launched a three-year action plan and policy measures to accelerate the development of the humanoid robot industry, aiming to establish itself as a national hub for humanoid robot sensors, application scenarios, and smart manufacturing [1][2] - The plan includes the establishment of a 1 billion yuan investment fund for the humanoid robot industry and a 10 billion yuan mother fund for artificial intelligence in Hubei province, with a focus on fostering innovation and supporting enterprises [1][2] - The humanoid robot industry in Wuhan is expected to grow significantly, with a compound annual growth rate of over 40% in the artificial intelligence sector over the past five years, leading to a related industry scale exceeding 500 billion yuan [2][3] Investment and Funding - Wuhan will guide the establishment of a 1 billion yuan investment fund specifically for the humanoid robot industry and participate in a 10 billion yuan provincial fund [1] - The government will implement a fault-tolerance system for guiding funds, allowing for a maximum 100% loss on individual projects in seed and angel investments [1] - Support for leading enterprises in establishing innovation laboratories can reach up to 60 million yuan, while concept verification centers and shared manufacturing platforms can receive up to 10 million yuan [1] Industry Development Goals - The development goals for the humanoid robot industry in Hubei include a phased approach: one year to start, three years to see results, and five years to establish a strong presence [2] - The establishment of the Hubei humanoid robot innovation center and industry alliance aims to create a complete ecosystem from research and development to manufacturing and application [2][3] Market Potential - According to research from the China Academy of Information and Communications Technology, humanoid robots are expected to become a new terminal market worth trillions, following personal computers, smartphones, and new energy vehicles [3] - The industry is positioned as a new wave of industrial development, with Wuhan aiming to take a leading role in this emerging sector [3]

Group 1 - Lithium prices have been continuously declining this year, leading to efficiency improvement becoming the main theme of the industry [1][2] - Yahua Group announced the establishment of Yahua Lithium Industry Group to integrate its lithium business, aiming to enhance operational efficiency and reduce coordination costs [1][2] - The integration involves five subsidiaries, including major lithium salt production bases, which accounted for nearly half of Yahua Group's revenue last year [1] Group 2 - The stock integration is intended to expand the development space of the lithium business and promote rapid and high-quality growth [2] - Lithium prices have been fluctuating around 60,000 yuan/ton since breaking below that threshold in late May, down from a high of 77,000 yuan/ton earlier this year [2] - Lithium companies are under pressure to improve efficiency, with Yahua Group implementing measures to optimize customer structure and manage procurement [3] Group 3 - Ganfeng Lithium has multiple self-owned resource projects that are cost-advantaged in the long term, which helps mitigate the impact of declining lithium prices [4] - The lithium market is expected to remain in a bottoming phase, with potential for price rebounds but also risks of further declines [4] - Industry experts suggest that a turnaround may require key catalysts such as production cuts from large mines or increased downstream demand [4]