Summary of Key Points Core Viewpoint - As of August 1, 2025, Xiamen Tungsten New Energy (688778) closed at 49.81 yuan, reflecting a 1.24% increase with a turnover rate of 1.04% and a trading volume of 52,600 shares, amounting to a total transaction value of 264 million yuan [1]. Trading Information - On August 1, 2025, the fund flow for Xiamen Tungsten New Energy indicated a net inflow of 14.15 million yuan from main funds, accounting for 5.36% of the total transaction value. In contrast, retail investors experienced a net outflow of 18.63 million yuan, representing 7.06% of the total transaction value [2][4]. Company Announcements - Xiamen Tungsten New Energy announced the redemption of structured deposits and reverse repos totaling 491.998 million yuan, yielding a profit of 2.4828 million yuan. The company has been actively managing idle raised funds through various financial institutions, including Xiamen International Bank, Xiamen Bank, Industrial and Commercial Bank of China, and Industrial Securities, focusing on principal-protected products [2][4]. - The company’s board of directors confirmed the authenticity and completeness of the announcement, ensuring no misleading statements or significant omissions [2].

Core Insights - The company Tean Lithium (Shanghai) New Energy Co., Ltd. has recently completed nearly 100 million yuan in Series A financing, led by Jiangxi Jinan Guosi Equity Investment and Shandong Guotou [2] - Tean Lithium focuses on new energy core structural materials and has developed an original "pre-plated nickel" process, breaking the long-standing monopoly of overseas giants on key materials [2] Financing Purpose - The funds from this round will be primarily used to expand the pre-plated nickel production lines in Jiangsu and Shandong to alleviate delivery bottlenecks [3] - Investment will also be directed towards the research and development of next-generation high-corrosion-resistant coatings and ultra-thin steel strips to strengthen the company's technological moat [3] - Additionally, a customer joint laboratory will be established in Shanghai to accelerate development in sync with leading battery manufacturers, enhancing global responsiveness [3] Investment Rationale - The pre-plated nickel sector is on the verge of a boom in cylindrical lithium batteries, with Tean Lithium being the only team capable of mass domestic substitution [4] - The uniform plating technology can reduce the short-circuit rate of battery cells and enhance cycle life, providing a competitive edge [4] - The collaboration with Shandong Guotou offers industrial synergy resources that can rapidly scale production, creating a dual barrier of "technology + scenario" with high certainty across cycles [4] Investment Perspective - The Ministry of Industry and Information Technology has recently included key materials for new energy in the "Advanced Manufacturing Industry Cluster" initiative, leading to unprecedented local government support [5] - The swift response from industry capital such as Guosi and Shandong Guotou reflects a dual commitment of "patient capital from investors" and "deep engagement from managers" in the sector [5] - Tean Lithium's pre-plated nickel process fills a domestic gap, aligning with supply chain security demands and demonstrating the resilience and foresight of entrepreneurs in the hard technology field [5]

Core Viewpoint - Ningbo Ronbay New Energy Technology Co., Ltd. is making steady progress in its diversified layout in the new energy materials sector, despite facing short-term performance pressures. Significant advancements have been made in technology research and development, product innovation, and global expansion, laying a solid foundation for long-term growth [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 6.248 billion yuan, a decrease of 9.28% compared to 6.888 billion yuan in the same period last year, primarily due to fluctuations in raw material prices affecting product pricing [3][4] - The net profit attributable to shareholders was -683.946 million yuan, a shift from profit to loss year-on-year, while the net profit after deducting non-recurring gains and losses was -793.053 million yuan, also reflecting a transition from profit to loss [3][4] - The company reported a significant improvement in cash flow, with net cash inflow from operating activities reaching 891 million yuan, compared to a net outflow of 839 million yuan in the same period last year [3][4] Asset and Equity Position - As of June 30, 2025, the total assets of the company were 23.677 billion yuan, a decrease of 3.84% from the end of the previous year, while the net assets attributable to shareholders were 8.303 billion yuan, down 1.64% [3][4] Research and Development - The company increased its R&D investment to 2.19 billion yuan, a year-on-year growth of 22.44%, with R&D expenses accounting for 3.5% of operating revenue, up 0.9 percentage points from the previous year [7] - The number of R&D personnel rose to 681, including 34 PhDs and 328 master's degree holders, enhancing the company's capacity for technological innovation [7] Product Development and Market Position - The company is a leader in the ternary cathode materials sector and is actively expanding into emerging areas such as manganese iron phosphate, sodium battery materials, and solid-state battery materials, with multi-product line layouts gradually showing results [5][6] - In the first half of 2025, the sales volume of ternary materials reached 50,000 tons, with actual profitability of approximately 77 million yuan after excluding new industry investments [6] - The company has initiated the construction of a 6,000-ton annual production line for sodium battery cathode materials, expected to significantly enhance production and sales scale from the second half of 2025 to 2026 [6] Intellectual Property and Certification - The company completed 93 patent applications and received 85 patent grants during the reporting period, with a total of 1,299 patent applications and 679 grants to date, covering key products and cutting-edge fields [7] - It is the first company in the industry to obtain the ISO56005 international standard certification for intellectual property management, maintaining this certification since April 2025 [7]

二是围绕一个战略中心，深耕消费+科技两大方向，做好三大场景结合，强化业务和支持保障体系四统一，深化五大职能 协同，提升六大维度创新。 莲花控股副董事长、首席执行官李斌表示，下半年要重点做好三方面工作：一是要深入优化产品结构。在持续巩固扩大优 势产品基础上，加快在新产品研发和销售推广方面取得更大突破，大幅提升新产品的占有率和美誉度；二是要强化业务协同。 有力推进线上线下，国内国际，研发销售这三大场景的协同协作取得显著成效；三是要继续深化改革。打造更加科学、完善、 高效、有力的"产供销储运"体系。 对于下半年和未来发展规划，莲花控股董事长李厚文提出三点要求： 一是深入推进消费+科技"双轮驱动"战略不动摇，在消费板块，聚焦调味品、水饮产品及食品等领域，并重点巩固扩大调 味品板块现有优势。在科技板块，将重点围绕算力、算法、智能体和半导体材料、新能源材料等相关业务领域，创新业务模 式，强化自主研发能力，提升企业核心竞争力。 本报讯 （记者肖艳青）7月31日，莲花控股股份有限公司（以下简称"莲花控股"）召开2025年年中工作会议，对上半年经 营工作进行全面总结，并分析研究当前经营发展形势，对下半年重点工作进行部署。 据悉 ...

8月1日即将生效，美国关税政策迎来密集进展！ 白宫在声明中指出，此次加税是"为应对加拿大持续的不作为和报复行为"，并称总统"认定有必要以提 高税率的方式，有效应对当前的紧急局势"。 此外，期货日报记者了解到，美东时间7月31日，特朗普宣布，美国与墨西哥的关税协议将延长90天， 即墨西哥将继续支付25%的芬太尼关税、25%的汽车关税以及50%的钢铁、铝和铜关税。 这意味着现行的关税状况将继续维持。来自墨西哥的商品将被征收25%的关税，除非这些商品符合特朗 普在第一任期内签署的《美墨加贸易协定》（USMCA）。在符合该协议的情况下，商品将不被征税， 某些行业的特殊关税除外。 特朗普实施"互惠关税"合法性遭美联邦法院质疑。据央视新闻消息，当地时间7月31日，美国联邦上诉 法院多名法官对特朗普依据《国际紧急经济权力法》（IEEPA）实施"互惠关税"的合法性提出怀，认为 其逾越国会授权，未能证明贸易逆差构成"国家紧急状态"。 该案由多州和企业提起诉讼，法院此前已裁定特朗普越权。案件料将上诉至最高法院。 据央视新闻消息，当地时间7月31日，美国总统特朗普签署行政令，确定了对多个国家和地区征收的"对 等关税"税率，具体税率 ...

Core Viewpoint - The establishment of the New Energy and New Materials Integration Innovation Center in Meishan has significantly facilitated the industrialization of projects, particularly in the field of lithium-magnesium alloys, which are crucial for various applications including batteries and aerospace [2][3]. Group 1: Project Development and Support - The New Energy and New Materials Integration Innovation Center has enabled companies like Sichuan Wanbang Shenghui New Energy Technology Co., Ltd. to successfully implement projects, such as a 50-ton lithium-magnesium alloy production line, which took nearly 10 years to develop [2]. - The center provides essential mid-term testing platforms that help companies validate and optimize their research results under near-real production conditions, thereby increasing the success rate of product commercialization [2]. - The center is equipped with laboratories and pilot plants, and has established an expert committee to offer professional guidance and technical support to enterprises [3]. Group 2: Policy and Regulatory Framework - Meishan has introduced a management approach for chemical pilot bases, streamlining the approval process for project experiments through a filing system, which significantly reduces the time required for environmental assessments [3]. - Since its opening in September of the previous year, the center has hosted 15 projects, with 4 successfully transitioning to commercialization, indicating a growing trend in the local green low-carbon industry [3]. Group 3: Industry Growth and Statistics - In the first half of the year, the value added of Sichuan's power battery and new energy vehicle industries increased by 36.5% and 11.0% year-on-year, respectively [3]. - Production of new energy vehicles, photovoltaic batteries, and lithium-ion power batteries for automotive use saw year-on-year increases of 2.4 times, 1.9 times, and 53.2%, respectively, highlighting the rapid growth in these sectors [3].

截至2025年7月31日收盘，厦钨新能(688778)报收于49.2元，下跌2.32%，换手率1.07%，成交量5.38万 手，成交额2.69亿元。 当日关注点 交易信息汇总 交易信息汇总：7月31日主力资金净流出1657.23万元，占总成交额6.16%。 公司公告汇总：厦钨新能赎回了多笔结构性存款和国债逆回购产品，本金共计49199.80万元，收 益248.28万元。 7月31日，厦钨新能的资金流向如下：- 主力资金净流出1657.23万元，占总成交额6.16%；- 游资资金净 流入166.42万元，占总成交额0.62%；- 散户资金净流入1490.82万元，占总成交额5.55%。 公司公告汇总 厦门厦钨新能源材料股份有限公司发布了关于使用部分闲置募集资金进行现金管理到期赎回的公告。主 要内容如下：- 公司于2024年8月1日召开会议，审议通过了使用不超过5亿元闲置募集资金进行现金管 理的议案，决议有效期为12个月，资金可滚动使用。- 近期，公司赎回了多笔结构性存款和国债逆回购 产品，本金共计49199.80万元，收益248.28万元，已划至募集资金专项账户。- 过去十二个月内，公司 多次使用闲置募集资金进 ...

海南发展（002163）(002163.SZ)公告，公司控股子公司海控三鑫(蚌埠)新能源材料有限公司(简称"海控 三鑫")于近期对550吨窑炉及5条深加工生产线进行停窑减产。公告称，海控三鑫停窑减产，有利于降低 运营成本，减少公司经营亏损。 ...

智通财经APP讯，海南发展(002163.SZ)公告，公司控股子公司海控三鑫(蚌埠)新能源材料有限公司(简 称"海控三鑫")于近期对550吨窑炉及5条深加工生产线进行停窑减产。公告称，海控三鑫停窑减产，有 利于降低运营成本，减少公司经营亏损。 ...

Group 1 - The core viewpoint of the article highlights the significant market opportunity for Tean Lithium in the pre-plated nickel steel strip sector, which is currently dominated by foreign manufacturers [6][7]. - Tean Lithium has completed nearly 100 million yuan in Series A financing, which will be used for production line supplementation and capacity expansion [6]. - The company has established a strategic supply agreement with South Korea's POSCO, becoming the first domestic supplier in this partnership [6][7]. Group 2 - Tean Lithium's pre-plated nickel process offers advantages over traditional methods, including more uniform coating thickness, reduced internal short circuits, and improved corrosion resistance and airtightness of battery shells [6][7]. - The company plans to launch a 15,000-ton cylindrical battery pre-plated nickel steel strip project in 2023, with an estimated output of 12,000 tons of related products this year [7]. - The demand for pre-plated nickel products is increasing in the electric vehicle sector, with major automakers like Tesla, BMW, and Mercedes showing interest [7][8]. Group 3 - Tean Lithium has also commercialized aerogel insulation films, which are used in electronic devices to address overheating issues during charging and gaming [7]. - The company supplies electromagnetic shielding materials to Samsung's wireless division, which helps reduce precious metal usage and material costs while enhancing performance [8]. - Tean Lithium is also developing new composite materials for other clients, including Lenovo and BOE, and is targeting the new energy vehicle sector for specialized applications [8].