该行相信电池股近期股价上升已反映明年平均售价上升2%至5%的预期。该行偏好宁德时代及国轩高 科，认为两者受惠周期性复苏及估值吸引。该行对宁德时代A股目标价为369元，评级"买入"，H股目标 价为470港元，评级"中性"；对国轩高科目标价为54.8元，评级"买入"。 高盛发表报告指，万得中国锂电池指数过去60个交易日升约四成，显著跑赢沪深300指数的18%升幅。 该行指，纵使短期电池市场紧张，对电池价格可持续上升保持审慎观点。该行的敏感度分析显示每加价 10%可带来明年盈利三成至六成上望空间，国轩高科、中创新航及亿纬锂能对价格敏感度相对较高。 ...

来源：智通财经网 锂电池板块涨幅居前，截至发稿，中创新航（03931）涨8.59%，报29.06港元；宁德时代（03750）涨4.9%，报454港元；赣锋锂业（01772）涨3.79%，报35.06港元；天齐锂业（09696 消息面上，9月11日，摩根士丹利发布报告指出，随着宁德时代在欧洲市场取得突破，而规模较小的竞争对手在关键的储能领域陷入盈利困局，加之当前大热的固态电池技术被视为短期炒作，宁 中信建投则认为，锂电板块已兑现2025年市场需求超预期的逻辑，当前板块核心矛盾转向2026年需求预期能否在20%增速基础上进一步上修。后续关注三大信号：一是四季度储能招标情况，其 责任编辑：杨赐 ...

Group 1 - The ChiNext index rose over 2%, with the STAR Market following suit, indicating strong performance in the hard technology sector [1] - The Double Innovation Leader ETF (588330) saw an intraday price increase of over 1.7%, with a real-time transaction amount exceeding 720 million yuan, reflecting active trading [1] - The semiconductor sector is experiencing significant growth, with companies like Shengbang Co. and Tuojing Technology seeing substantial stock price increases [5] Group 2 - The National Development and Reform Commission and the National Energy Administration issued a plan aiming for a new energy storage capacity of 180 GW by 2027, with an investment of approximately 250 billion yuan [2] - The semiconductor industry is poised for growth due to the Ministry of Commerce's anti-dumping investigation into imported analog chips from the U.S., which may expand the market for domestic manufacturers [3] - The Double Innovation Leader ETF has shown a cumulative increase of 31.5% over the past month, leading all broad-based indices in market performance [4] Group 3 - The ETF focuses on strategic emerging industries, selecting 50 large-cap companies from the STAR and ChiNext boards, covering sectors like new energy, semiconductors, and medical devices [8] - The ETF provides a low-entry investment option, allowing investors to participate in the technology sector with a lower capital requirement compared to direct investments in individual stocks [8] - The current market environment is characterized by a shift towards technology innovation and high-end manufacturing, with AI and innovative pharmaceuticals expected to drive future growth [6]

Core Viewpoint - The company Mengguli plans to raise a total of 980 million yuan through a private placement to fund its lithium-ion battery materials projects and enhance liquidity [1][2]. Group 1: Fundraising and Investment Projects - The total amount to be raised is capped at 980 million yuan, which will be allocated to specific projects and working capital [1]. - The investment breakdown includes 886.46 million yuan for an annual production capacity of 30,000 tons of lithium-ion battery cathode materials and 120 million yuan for working capital [1][2]. - The private placement will involve up to 35 specific investors, including the controlling shareholder Hengtong New Energy, which plans to invest 200 million yuan in cash [1]. Group 2: Production Capacity Expansion - Upon project completion, Mengguli will add new production capacities of 15,000 tons per year for ultra-high nickel ternary materials, 10,000 tons per year for NCA materials, and 5,000 tons per year for high-voltage lithium cobalt oxide [2].

Group 1 - The Hong Kong stock market is experiencing an upward trend, with the Hang Seng Tech Index surpassing 6000 points, driven by strong performance in the lithium battery sector and active trading in new energy vehicle stocks [1][2] - The Ministry of Industry and Information Technology and seven other departments have jointly issued a plan aiming for approximately 32.3 million vehicle sales in 2025, including around 15.5 million new energy vehicles [1] - China's new energy vehicle market penetration is expected to exceed 30% in 2023 and 50% in 2024, with a competitive landscape where domestic brands are gaining market share [1] Group 2 - The Hang Seng Tech Index is poised for a potential "catch-up" rally due to continuous inflow of southbound funds and the anticipated start of a new interest rate cut cycle in the U.S. [2] - The ongoing "anti-involution" policies and Alibaba's better-than-expected earnings report, along with rapid iterations in AI large models, suggest a possible revaluation of the Hang Seng Tech Index [2] - Investors without a Hong Kong Stock Connect account may consider using the Hang Seng Tech Index ETF (513180) to gain exposure to core Chinese AI assets [2]

Market Overview - A-shares experienced fluctuations with the ChiNext index rising by 2.11%, driven by strong performances in solid-state batteries and energy storage sectors, particularly with CATL surging by 10.15% [1][10][15] - The Hong Kong market also saw gains, with the Hang Seng Index up by 0.20% and the Hang Seng Tech Index increasing by 1.04% [3][24] - The bond market showed a positive trend, with government bond futures rising across the board [3][4] Sector Performance - The solid-state battery and energy storage sectors witnessed significant growth, with CATL's stock price increasing by 10.15% and a trading volume exceeding 10 billion yuan [10][12] - Semiconductor stocks were notably active, with several companies like Sanan Optoelectronics and Shanghai Belling hitting their daily price limits [20][21] - The pre-made food sector also saw a surge, with companies like DeLis and Huihua Foods reaching their daily price limits [6][7] Commodity Market - Domestic commodity futures mostly rose, with coking coal and coke prices increasing by over 2% [1][27] - Lithium carbonate prices also saw a rise, reflecting the ongoing demand in the battery sector [4][27] Financing and Investment Trends - As of September 12, the financing balance on the Shanghai Stock Exchange reached 1.183985 trillion yuan, an increase of 7.544 billion yuan from the previous trading day [5]

二是11月底电池企业招标对应2026年的要货预期，尽管当前部分电池企业已经给出2026年指引将大幅超市场预 期，但置信度仍被质疑，后续以价为基础的谈量具备可信度； 三是2026年汽车以旧换新等政策延续情况以及锂电排产信息。 当前尽管有较大预期差，但经济性带动下的储能超预期或将在明年加速，关注度提升的情况下第二波行情随时 可能出现。 编辑/Rocky 港股锂电池板块涨幅居前，截至发稿，$中创新航 (03931.HK)$涨超9%，$宁德时代 (03750.HK)$涨近6%，$赣锋 锂业 (01772.HK)$涨超3%，$天齐锂业 (09696.HK)$涨近3%。 | 代碼 | 名稱 | 最新價 | 漲跌額 | 漲跌幅 = | 成交量 | 成交額 | | --- | --- | --- | --- | --- | --- | --- | | 03931 | 中創新航 | 29.260 | +2.500 | +9.34% | 762.83萬 | 2.2億 | | 03750 | 寧德時代 | 458.000 | +25.200 | +5.82% | 177.97萬 | 8.05億 | | 01772 | 脂峰理業 | ...

9月15日，容百科技涨5.73%，截至发稿，报31.20元/股，成交2.84亿元，换手率1.30%，总市值222.99亿 元。 资料显示，宁波容百新能源科技股份有限公司位于浙江省余姚市谭家岭东路39号，成立日期2014年9月 18日，上市日期2019年7月22日，公司主营业务涉及锂电池三元正极材料及其前驱体的研发、生产和销 售。主营业务收入构成为：正极材料96.62%，材料销售2.66%，其他0.46%，前驱体0.26%。 从基金十大重仓股角度 数据显示，富国基金旗下1只基金重仓容百科技。富国上证科创板新能源ETF（588960）二季度持有股 数11.01万股，占基金净值比例为4.2%，位居第六大重仓股。根据测算，今日浮盈赚取约18.6万元。 责任编辑：小浪快报 富国上证科创板新能源ETF（588960）成立日期2025年2月6日，最新规模5845.87万。成立以来收益 32.68%。 富国上证科创板新能源ETF（588960）基金经理为苏华清。 截至发稿，苏华清累计任职时间1年333天，现任基金资产总规模310.98亿元，任职期间最佳基金回报 122.13%， 任职期间最差基金回报-6.04%。 风险提示： ...

中信建投则认为，锂电板块已兑现2025年市场需求超预期的逻辑，当前板块核心矛盾转向2026年需求预 期能否在20%增速基础上进一步上修。后续关注三大信号：一是四季度储能招标情况，其将映射2026年 装机数据；二是11月底电池企业招标对应2026年的要货预期，尽管当前部分电池企业已经给出2026年指 引将大幅超市场预期，但置信度仍被质疑，后续以价为基础的谈量具备可信度；三是2026年汽车以旧换 新等政策延续情况以及锂电排产信息。当前尽管有较大预期差，但经济性带动下的储能超预期或将在明 年加速，关注度提升的情况下第二波行情随时可能出现。 消息面上，9月11日，摩根士丹利发布报告指出，随着宁德时代在欧洲市场取得突破，而规模较小的竞 争对手在关键的储能领域陷入盈利困局，加之当前大热的固态电池技术被视为短期炒作，宁德时代的领 先优势将得以延续，其估值在同行中已具备显著吸引力，已经成为了"行业中最便宜的"。 智通财经APP获悉，锂电池板块涨幅居前，截至发稿，中创新航(03931)涨8.59%，报29.06港元；宁德时 代(03750)涨4.9%，报454港元；赣锋锂业(01772)涨3.79%，报35.06港元；天齐锂业 ...

Group 1 - The lithium battery sector is experiencing significant gains, with companies like CATL and Ganfeng Lithium seeing notable stock price increases of 4.9% and 3.79% respectively [1] - Morgan Stanley's report highlights CATL's breakthrough in the European market and the struggles of smaller competitors in the energy storage sector, suggesting that CATL's leading advantage will continue and its valuation is now considered attractive compared to peers [1] - The report describes CATL as "the cheapest in the industry," indicating a strong position for potential investment [1] Group 2 - CITIC Securities believes that the lithium sector has already priced in the expected market demand for 2025, with the focus now shifting to whether the demand forecast for 2026 can be revised upwards from a 20% growth rate [2] - Three key signals to watch include the fourth-quarter energy storage bidding, which will reflect 2026 installation data, and the battery companies' bidding at the end of November that corresponds to 2026 demand expectations [2] - The continuation of policies for vehicle trade-ins and lithium production scheduling in 2026 will also be critical, with expectations of accelerated energy storage demand potentially leading to a second wave of market activity [2]