Group 1: Industry Events - The 2025 High-Performance Lithium Battery Annual Conference will be held from November 18-20, 2025, at JW Marriott Hotel in Shenzhen [1] Group 2: Company Developments - Sichuan Yahua Industrial Group has confirmed the synthesis process for lithium sulfide and plans to establish a pilot line by 2026, with sample production expected by the end of this year [4] - EVE Energy has successfully entered the battery supply system for Xiaopeng's MONA model, providing traditional square batteries which offer better adaptability and lower development costs compared to BYD's blade batteries [5] - Greeenme has signed a strategic cooperation framework agreement with Lvtong Technology to focus on the recycling and utilization of new energy vehicles and power batteries, creating a closed-loop industrial chain [8] - Xingheng Power and Niu Electric have signed a strategic cooperation agreement for micro-blade electric motorcycle lithium batteries, with a collaboration scale of 3 GWh [9] - Tianqi Lithium has commenced the construction of a pilot project for 50 tons of lithium sulfide, utilizing new technology for rapid mass production [11] - Hebei Kuntian New Energy has launched its first phase of a silicon-carbon anode material production line, with plans for a second phase to reach an annual capacity of 5,000 tons [12][14] - Hailiang Co. has developed new copper foil products suitable for solid-state batteries, which are now ready for mass production [16] Group 3: International Developments - InoBat has received €53.8 million in subsidies and a €456,000 loan from the Spanish government to support the construction of a battery factory in Valladolid, with a total investment of approximately €712 million [17][19]

Group 1 - Tianli Lithium Energy's stock price fell by 4.77% to 27.57 yuan as of market close [1] - The company was listed on the Shenzhen Stock Exchange's ChiNext board on August 29, 2022, with an initial public offering of 30.5 million shares at a price of 57.00 yuan per share [1] - The highest price recorded on the first trading day was 82.00 yuan, marking the peak since its listing, and the stock is currently in a state of decline [1] Group 2 - The total amount raised from the initial public offering was 173.85 million yuan, with a net amount of 155.03 million yuan, exceeding the original plan by 71.39 million yuan [1] - The company planned to use the raised funds for the construction of two ternary cathode material projects located in Huaibei and Xinxiang [1] - The total issuance costs for the IPO amounted to 18.82 million yuan, with underwriting and sponsorship fees accounting for 16.32 million yuan [1]

Group 1 - The stock of EVE Energy Co., Ltd. fell by 5.02% on September 18, closing at 70.25 CNY per share, with a trading volume of 6.699 billion CNY and a turnover rate of 5.03%, resulting in a total market capitalization of 143.712 billion CNY [1] - EVE Energy, established on December 24, 2001, and listed on October 30, 2009, is located in Huizhou, Guangdong Province. The company specializes in the research, production, and sales of consumer batteries (including lithium primary batteries, small lithium-ion batteries, and ternary cylindrical batteries) and power batteries (including electric vehicle batteries and energy storage batteries) [1] - The revenue composition of EVE Energy is as follows: power batteries account for 45.26%, energy storage batteries 36.56%, consumer batteries 18.03%, and others 0.16% [1] Group 2 - According to data, one fund under China Ocean Fund holds a significant position in EVE Energy. The China Ocean Environmental New Energy Mixed Fund (398051) held 381,700 shares in the second quarter, representing 2.41% of the fund's net value, ranking as the tenth largest holding [2] - The China Ocean Environmental New Energy Mixed Fund (398051) was established on December 9, 2010, with a current scale of 724 million CNY. Year-to-date, it has achieved a return of 27.87%, ranking 3293 out of 8172 in its category; over the past year, it has returned 41.28%, ranking 4218 out of 7980; and since inception, it has returned 114.45% [2]

Core Viewpoint - The company is not a shareholder in Yibin Tianyi Lithium Industry, which is a core supplier for CATL, and there is no current strategic cooperation beyond lithium salt supply [2] Group 1 - An investor inquired about the potential for deeper strategic cooperation between the company and CATL, particularly regarding the company's cathode materials projects [2] - The company clarified that its lithium iron phosphate cathode materials and its stake in Yibin Lithium Bao's ternary cathode materials are supplied to leading enterprises in the industry [2] - The market is seeking a clear signal to confirm that the cooperation between the company and CATL has progressed from a "subsidiary" level to a "listed company" level [2]

Core Viewpoint - Changzheng Co., Ltd. has completed its plan to reduce its holdings in Weilan Lithium (002245.SZ) by selling 5,938,550 shares, accounting for 0.51% of the company's total share capital, at an average price of 18.18 yuan per share, totaling approximately 108 million yuan [1][2][3]. Summary by Relevant Sections Shareholder Reduction - Changzheng Co., Ltd. executed the share reduction from September 5, 2025, to September 17, 2025, through centralized bidding on the stock exchange [1][2]. - The reduction price ranged from 17.58 yuan to 19.51 yuan per share, with an average price of 18.18 yuan [2]. Compliance and Impact - The reduction plan was disclosed in advance and adhered to relevant regulations, confirming no violations occurred [2]. - The completion of this reduction will not affect the company's control structure or its ongoing operations [2][3]. Shareholding Structure - As of June 19, 2025, Changzheng Co., Ltd. held 69,669,800 shares, representing 6.04% of the total share capital, and planned to reduce up to 5,938,550 shares [3]. - Weilan Lithium's controlling shareholder is Luwei Co., Ltd., with Chen Kai as the actual controller, who is also the chairman and general manager of the company [3].

Core Viewpoint - Desay Battery's stock has shown a significant increase in price this year, despite a recent decline, indicating potential volatility in the market [1][2]. Company Overview - Desay Battery Technology Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on September 4, 1985, with its stock listed on March 20, 1995 [1]. - The company specializes in the production of power management systems and various types of lithium batteries [1]. Financial Performance - For the first half of 2025, Desay Battery reported a revenue of 9.762 billion yuan, representing a year-on-year growth of 9.32%, while the net profit attributable to shareholders decreased by 9.36% to 97.545 million yuan [2]. - The company has distributed a total of 1.484 billion yuan in dividends since its A-share listing, with 495 million yuan distributed over the past three years [3]. Shareholder Information - As of September 10, 2025, the number of shareholders increased to 71,100, a rise of 15.54%, while the average circulating shares per person decreased by 13.45% to 5,411 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited being the third-largest shareholder, increasing its holdings by 2.0681 million shares [3]. Stock Performance - As of September 18, 2025, Desay Battery's stock price was 27.46 yuan per share, with a year-to-date increase of 18.46% and a recent five-day increase of 6.93% [1]. - The stock experienced a net outflow of 41.2314 million yuan in principal funds, indicating selling pressure despite some buying activity [1].

Group 1 - The core viewpoint of the news is that Boliwei's stock has shown significant growth this year, with a year-to-date increase of 111.28%, despite a recent decline in the last five trading days [1] - As of September 18, Boliwei's stock price was 38.39 yuan per share, with a total market capitalization of 3.883 billion yuan [1] - The company has experienced a net outflow of main funds amounting to 3.3123 million yuan, while large orders showed a buying volume of 16.5234 million yuan and a selling volume of 20.1773 million yuan [1] Group 2 - For the first half of 2025, Boliwei achieved operating revenue of 1.345 billion yuan, representing a year-on-year growth of 62.25%, and a net profit attributable to shareholders of 36.0171 million yuan, up 259.56% year-on-year [2] - The number of shareholders increased to 5,467, a rise of 33.83%, while the average circulating shares per person decreased by 25.28% to 18,291 shares [2] Group 3 - Since its A-share listing, Boliwei has distributed a total of 60 million yuan in dividends, with 40 million yuan distributed over the past three years [3]

Core Viewpoint - Guoxuan High-Tech's stock has shown significant growth this year, with a year-to-date increase of 118.64%, despite a slight decline in the last five trading days [1]. Financial Performance - For the first half of 2025, Guoxuan High-Tech achieved a revenue of 19.394 billion yuan, representing a year-on-year growth of 15.48%, and a net profit attributable to shareholders of 367 million yuan, up 35.22% year-on-year [2]. Stock Market Activity - As of September 18, Guoxuan High-Tech's stock price was 46.18 yuan per share, with a market capitalization of 83.376 billion yuan. The stock experienced a trading volume of 4.415 billion yuan and a turnover rate of 5.64% [1]. - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on September 1, where it recorded a net purchase of 669 million yuan [1]. Shareholder Information - As of August 8, the number of shareholders for Guoxuan High-Tech was 212,400, a decrease of 1.72% from the previous period, with an average of 8,133 circulating shares per shareholder, an increase of 1.75% [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 53.1134 million shares, a decrease of 54.8854 million shares from the previous period [3].

探七轮美联储降息规律，迎全球"Risk on"行情 20250917 摘要 1. 1989-1992 年的衰退式降息，共进行了 23 次，总计 675 个基点。当 时油价腰斩，对美国经济造成冲击。初期风险资产回调，但随着经济企 稳和流动性宽松，新兴市场如恒指、大宗商品出现反弹。 2. 1995-1996 年的预防式降息，由于墨西哥比索危机蔓延，美联储进行 预防式降息。这期间 A 股、港股、美股及商品普遍上涨，美债收益率下 行。 3. 1998 年的亚洲金融危机，美国本身没有巨大的经济风险，但为了预防 金融危机蔓延，美联储进行了几次小幅度的预防式降息。这期间亚太市 场表现最好，如韩国和港股。 4. 2001-2003 年的衰退式降息，由于互联网泡沫破灭，美联储进行了 13 次总计 550 个基点的大幅度衰退式降息。在这一时期，大部分风险资产 回落，仅黄金和债券表现较好。 5. 2007-2008 年的次贷危机，同样属于衰退式降息阶段，风险资产及商 品价格大幅下跌，而黄金和债券收益率表现最佳。 6. 2019-2020 年的疫情冲击期间，美联储再次采取了紧急措施，对新兴 市场及商品造成冲击，但黄金与债市表现较好。 ...

Group 1 - The core point of the news is that Changzheng Co., Ltd. has completed its share reduction plan for Weilan Lithium, reducing its holdings from 69,669,800 shares (6.04% of total shares) to 63,731,250 shares (5.52% of total shares) [1][2] - The share reduction was executed between September 5 and September 17, 2025, with a total of 5,938,550 shares sold at an average price of 18.18 yuan per share, within a price range of 17.58 to 19.51 yuan per share [1][2] - The company confirmed that the share reduction was conducted in compliance with relevant laws and regulations, and it will not affect the company's governance structure or ongoing operations [2]