11月17日，宁德时代股价跳空低开。盘中跌幅一度超5％，市值较前一交易日收盘（1.844万亿元）蒸发 近千亿元。 值得注意的是，在2022年黄世霖申请辞职后，宁德时代称，后续，黄世霖将在"光储充检"新兴领域探索 业务机会，未来可能与公司形成战略协同，共同推动新能源产业的发展。 天眼查数据显示，黄世霖目前担任10余家公司的股东，包括福建时代星云科技有限公司（简称"时代星 云"）、福建集新光储充检技术有限公司等多家储能相关企业。 黄世霖为时代星云的实控人。该公司创立于2019年，是一家集锂电储能设备研发、生产、销售、服务于 一体，以储能应用技术为核心，为客户提供发电侧、电网侧、用户侧储能产品及解决方案的高新技术企 业。 截至11月13日收盘，宁德时代的最新股价为404.12元/股计，以此算，黄世霖此次拟减持股份的价值超过 184亿元。 公告称，此次询价转让不通过集中竞价交易或大宗交易方式进行，不属于通过二级市场减持。且受让方 通过询价转让受让的股份，在受让后6个月内不得转让。 这意味着此次减持将避免直接冲击二级市场，缓解了抛售压力。同时，六个月的股份锁定期在一定程度 上为受让方设立了门槛。 据悉，黄世霖为宁德时代 ...

11月17日，宁波容百新能源科技股份有限公司(以下简称"容百科技")以33元/股开盘后快速冲高，不久后 便以35.4元/股封住20CM涨停。截至午间收盘，容百科技报35.4元/股，其成交额已达27.7亿元创2022年8 月17日以来新高。 容百科技在钠电领域持续投入，其钠电正极材料在性能指标、工艺稳定性及成本控制等方面表现突出， 已在国内外头部战略电池厂商中取得领先位置。公告显示，双方未来还将积极开展钠电全方位产品技术 合作。 本次签署的是合作协议，实际执行仍需以未来具体购销合同或书面文件为准。如协议获得充分履行，预 计将对公司未来经营业绩产生积极影响。与此同时，公司也提示协议履行仍可能受到宏观经济波动、政 策调整、需求变化及产能节奏等因素影响，存在无法如期或全部履行的风险。 根据协议，宁德时代将容百科技作为其钠电正极粉料的第一供应商，并在容百科技满足技术、质量、成 本、交付及服务要求的前提下，每年采购量占其总采购量的比例不低于60%。在年度采购量达到50万吨 及以上时，容百科技将通过降本向对方提供更优惠的价格。 公告显示，此次合作标志着国际头部客户对容百科技相关产品开发技术实力和市场地位的认可。双方将 建立 ...

从政策催化的角度看，国家去年就开始给予研发补贴等政策支持，包括政府新的招商政策。传统锂电池 落地产能可能会有一定难度，但如果涉及到固态电池，尤其是纯固态领域的话，会有更优惠的政策，无 论是对于人才落地，还是产能落地，都带来了更多帮助。这两年大家可能逐渐看到了一个非常重要的拐 点，政策支持助力固态电池的上市公司、创业企业都更快地发挥自身优势。 基金观察：目前固态电池产业界有半固态、全固态等技术路线并行，您认为哪种路线会率先实现大规模 商业化应用？这种多元并行的局面会持续多久？ 刘小龙：首先肯定是半固态实现大规模商业化应用。实际上这也可以说是已经发生的事实，因为半固态 确实已经开始装车了。目前千公里以上续航的基本就是半固态电池。另外，半固态电池也大范围地应用 在一些储能的装机，去年已经有很大一批产品是半固态的储能电池，今年还有大范围的应用。 央广网北京11月17日消息（记者高敏）据中央广播电视总台经济之声报道，近期固态电池产业链表现活 跃，背后的驱动因素有哪些？目前行业技术突破到了什么阶段？经济之声交易实况《基金观察》采访了 西部证券电新行业分析师刘小龙。 基金观察：这一轮固态电池产业链行情背后的影响因素有哪些？ ...

Group 1 - The solid-state battery sector has seen significant stock price increases for companies like XianDao Intelligent and Yiwei Lithium Energy since August, indicating a revaluation of the sector [1] - The 2025 World Power Battery Conference held in Yibin highlighted the challenges of commercializing solid-state batteries, with major players like CATL focusing more on liquid batteries [1][2] - The resurgence of lithium iron phosphate (LFP) batteries is attributed to their low cost and mature technology, which aligns with the industry's need for immediate profitability before long-term investments [1] Group 2 - CATL's chairman, Zeng Yuqun, criticized the recent surge in lithium prices, describing it as "speculation" and "explosive growth," indicating a tense atmosphere at the conference [2] - Zeng's speech emphasized the importance of technological breakthroughs in battery performance and quality, with a notable focus on LFP technology, which has been in development for about 20 years [3] - The current industry sentiment reflects a shift from solid-state battery optimism to a renewed focus on the established liquid battery technologies, particularly LFP [4][8] Group 3 - Industry experts predict that solid-state batteries may not achieve large-scale commercialization until 2030 or later, with significant technical challenges still to be addressed [6][7] - The transition to hybrid solid-liquid batteries is expected to accelerate, with a projected five-year window for commercialization [8] - Despite the challenges facing solid-state batteries, LFP technology remains dominant due to its high safety, low cost, and long cycle life, making it a preferred choice for many applications [10][11] Group 4 - The market for energy storage is projected to grow significantly, with LFP batteries currently accounting for over 80% of the "power + storage" application market [13] - By 2024, the cumulative installed capacity of new energy storage in China is expected to reach 78.3 GWh, representing 47% of the global total [13][14] - The demand for LFP batteries is anticipated to increase, with a forecasted output of 246 million tons by 2024, driven by the growing energy storage market [13]

Core Insights - The chairman of CATL, Zeng Yuqun, stated that the new energy industry is transitioning from a "partial breakthrough" to a "full-scale incremental era" [1][2] - In the first three quarters of this year, the total export value of the "new three items" exceeded 900 billion yuan, with lithium batteries contributing nearly 400 billion yuan, accounting for over 40% [1] - CATL exported 120 GWh of lithium batteries, representing nearly 60% of the total export volume of about 200 GWh [1] - The company has invested over 80 billion yuan in R&D over the past decade, with more than 15 billion yuan invested in the first three quarters of this year [1] - As of mid-2023, CATL holds and is applying for nearly 50,000 patents, making it one of the Chinese companies with the most overseas patent applications [1] - CATL's revenue for the first three quarters reached 283.1 billion yuan, with a net profit of 49 billion yuan, indicating strong growth [1] - The battery shipment volume in Q3 was approximately 180 GWh, with energy storage batteries accounting for about 20% [1] - The annual production capacity is expected to reach 730-750 GWh, a year-on-year increase of 40% [1] - By 2026, CATL's production capacity is projected to exceed 1 TWh [1] Industry Outlook - Zeng Yuqun emphasized that the new energy industry is at a new crossroads, moving from high speed to high quality and from partial breakthroughs to full-scale increments [2] - CATL is committed to collaborating with various parties to promote the new energy industry towards a "full-scale incremental era," aiming for a better zero-carbon society and a greener future [2]

摩根大通发布研报称，应该谨慎对待宁德时代获得海博思创200GWh储能电池订单的实际约束力；11月 20日起近50%的H股IPO锁定股份将解禁，约7750万股面临潜在抛压；但公司有望纳入恒生科技指数， 可能触发被动资金流入。综合多空因素，摩根大通将宁德时代目标价从600港元下调至575港元，A股目 标价480元。 智通财经APP获悉，宁德时代(03750)盘中跌近4%，截至发稿，跌3.6%，报522.5港元，成交额6.69亿港 元。 消息面上，宁德时代公告称，公司联合创始人、第三大股东黄世霖因自身资金需求，计划以询价转让方 式减持公司股份4563.24万股，占总股本比例1%。若按公告当日收盘价404.12元估算，该笔减持市值约 184.4亿元。即便以"最低七折"的转让底价计算，其价值仍超过百亿元。 ...

展望后市，五矿证券指出，钠离子电池具备理论高倍率和良好低温性能优势，在启停电源、北方低 温地区部分需求场景具有一定市场空间。根据相关学术论文，钠离子电池具备理论高倍率性能和良好低 温性能优势，在启停电源、北方低温地区等领域具备一定的相对优势。实际产品中，往往借助正负极改 性、电解液设计、电芯设计等来进行钠离子电池的倍率、低温性能等改性实现预期的目标。建议关注钠 离子电池相关的正极材料、电池等产业投资机会。 （责任编辑：董萍萍 ） 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新 能源指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159368）弹性最大，涨幅可达20cm；费率最低，管理费和托管费合计仅为0.2%；规模最大，截至 2025年10月31日，规模达8.29亿元；成交额最大，近一月日均成交9005万元。其储能含量达59%，固态 电池含量达32%，契合当下市场热点。（联接A：024419联接C：024420） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 ...

Group 1 - The core viewpoint of the article highlights the cautious stance of JPMorgan regarding CATL's recent developments, particularly the significance of a large energy storage order and the upcoming unlocking of H-share IPO shares [1][2][4] - CATL has received a 200GWh energy storage battery order from Haibosichuang, but JPMorgan warns investors to interpret the actual binding nature of this order with caution, as similar strategic agreements historically lack strict enforceability [2][3] - The market's expectations for CATL's production capacity in 2026 have risen significantly, with estimates ranging from 1.0-1.1TWh to as high as 1.6TWh, which JPMorgan considers overly optimistic [3] Group 2 - Nearly 50% of H-share IPO lock-up shares, approximately 77.5 million shares, will be unlocked on November 20, creating potential selling pressure due to the current high trading price [1][4] - The H-shares of CATL are currently trading at a 23% premium over A-shares, a rare occurrence for dual-listed stocks, and the high short-selling ratio (95% utilization of the borrowing pool) adds to the uncertainty in stock price movements [1][5][7] - JPMorgan maintains a "neutral" rating on CATL's H-shares, lowering the target price from 600 HKD to 575 HKD, anticipating that the high premium of H-shares over A-shares will narrow post-lockup [7]

【电池50ETF（159796）标的指数前十大成分股】 | 序号 | 代码 | 名称 | 涨跌幅 | 估算权 | | --- | --- | --- | --- | --- | | 1 | 300274 | 阳光电源 | -0.47% | 15.96% | | 2 | 300750 | 宁德时代 | -3.23% | 7.75% | | 3 | 300014 | 亿纬锂能 | 1.48% | 6.33% | | 4 | 002050 | 三花智控 | -0.97% | 5.70% | | ਦ | 300450 | 先导智能 | -0.75% | 3.67% | | 6 | 002709 | 天赐材料 | -0.86% | 3.57% | | 7 | 002407 | 多氟多 | -0.63% | 2.94% | | 8 | 002074 | 国轩高科 | 0.23% | 2.88% | | d | 300207 | 欣旺达 | -2.06% | 2.77% | | 10 | 002340 | 格林美 | 1.80% | 2.55% | 截至10:18，成分股仅做展示使用，不构成投资建议。 成分股消息面上， 1 ...

编者荐语： 转载自申万宏源证券上海分公司，仅供参考。本周A股市场科技股走势分化调整。人型机器人与AI板块核心上市公司股价今年累计涨幅较大也是近阶段板 块调整的原因。 以下文章来源于申万宏源证券上海分公司 ，作者王臻斌 申万宏源证券上海分公司 . 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 本周四 电池板块强势 上涨 ，锂矿、锂电池、固态电池等概念板块涨幅居前 。 产业消息上， 海外储能需求因数据中心用电激增预期持续 爆发走强 。 同时近期 六氟磷酸锂主流成交价较 10月中旬已翻倍 ， 电解液添加剂 VC、FEC价格 也 持续上涨 。 部分机构预期 本轮涨 价的核心原因是供需错配 ， 一方面下游市场需求迎来爆发式增长 ， 另一方面大量中小企业在亏损压力下加速退出导致供给端收缩。 【行情综述】 本周 A股市场震荡 整理 ，消费与银行板块小幅走强，锂电池及工业金属板块表现亮眼。 【一周复盘】 本周 A股市场科技股走势 分化调整 。人型机器人与 AI板块核心上市公司股价今年累计涨幅较大也是近阶段板块 调整 的原因。 人形机器人板块受大规模量产时间不确定性 ...