2025（第十五届）高工锂电年会 暨十五周年庆典&高工金球奖颁奖典礼 主办单位： 高工锂电、高工产研（GGII） 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 杉杉科技、英联复合集流体、逸飞激光、华视集团、欧科工业空调、宇电自动化 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 在 新能源锂电 领域，宝辰鑫为合作伙伴提供一站式的激光智能系统解决方案，包含激光器、激光加工头、控制卡及软件等激光子系统的全套方案， 可快速实现激光应用方案落地。 其激光解决方案覆盖电池、电驱、电控三点系统全工艺段应用。极片划线、电芯壳体表面毛化、蓝膜钝化、轧辊清洗、扁线电机激光焊接、扁铜线激 光除漆、IGBT激光焊接等创新工艺应用，助力客户突破新能源效率难点。 届时，宝辰鑫激光将在本届年会上发表主题演讲。 年会期间还将举行 十五周年庆典&高工金球奖颁奖典礼、发布蓝皮书、设行业关切主题专场 ，敬请期待！ 倒计时32天 当前新能源锂电产业加速升级，制造端对工艺精度、效率的要求持续攀升。 深圳市 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - On October 16, 2025, the lithium carbonate futures 2511 contract rose 2.52% to 74,940 yuan/ton. The average price of battery - grade lithium carbonate remained at 73,000 yuan/ton, the average price of industrial - grade lithium carbonate remained at 70,750 yuan/ton, and the price of battery - grade lithium hydroxide (coarse particles) dropped 50 yuan/ton to 73,130 yuan/ton. The warehouse receipt inventory decreased by 2,620 tons to 30,456 tons [3]. - In terms of supply, the weekly output increased by 431 tons to 21,066 tons. Lithium extraction from spodumene increased by 100 tons to 13,164 tons, lithium extraction from lepidolite increased by 96 tons to 2,791 tons, lithium extraction from salt lakes increased by 210 tons to 3,114 tons, and lithium extraction from recycling increased by 25 tons to 1,997 tons. In terms of demand, the weekly output of ternary materials increased by 271 tons to 17,247 tons, and the weekly inventory of ternary materials increased by 114 tons to 17,963 tons; the weekly output of lithium iron phosphate increased by 572 tons to 85,039 tons, and the weekly inventory of lithium iron phosphate increased by 970 tons to 102,818 tons. In terms of inventory, the weekly inventory decreased by 2,143 tons to 132,658 tons, with downstream inventory decreasing by 2,030 tons to 57,735 tons, intermediate link inventory increasing by 350 tons to 40,640 tons, and upstream inventory decreasing by 464 tons to 34,283 tons [3]. - This week, the warehouse receipt inventory has been continuously decreasing. With supply - side news disturbances and good weekly data, the futures price fluctuated and rose yesterday. Currently, it is the peak demand season, lithium carbonate is being destocked, and lithium ore prices are firm. The weekly fundamentals further strengthen the price support. There are still expectations of project resumptions, so in the short term, it will still run with a bias towards fluctuations, but the volatility may increase [3]. 3. Summary According to Relevant Catalogs 3.1 Research Views - Futures, spot, and warehouse receipt data: The lithium carbonate futures 2511 contract rose 2.52% to 74,940 yuan/ton. The average price of battery - grade lithium carbonate remained at 73,000 yuan/ton, the average price of industrial - grade lithium carbonate remained at 70,750 yuan/ton, and the price of battery - grade lithium hydroxide (coarse particles) dropped 50 yuan/ton to 73,130 yuan/ton. The warehouse receipt inventory decreased by 2,620 tons to 30,456 tons [3]. - Supply, demand, and inventory data: Supply increased by 431 tons to 21,066 tons from different sources. Demand - side production and inventory of ternary materials and lithium iron phosphate both increased. The overall inventory decreased by 2,143 tons to 132,658 tons, with different trends in downstream, intermediate, and upstream inventories [3]. - Market trend judgment: Due to factors such as continuous destocking of warehouse receipts, supply - side news disturbances, and good weekly data, the futures price rose. With the peak demand season, destocking of lithium carbonate, and firm lithium ore prices, the short - term market will run with fluctuations and increasing volatility [3]. 3.2 Daily Data Monitoring - Price changes of various products: Futures contract prices (主力合约收盘价 and 连续合约收盘价) increased, prices of some lithium ores (such as lithium mica and phospho - lithium - aluminum stone) increased, prices of some lithium salts (such as battery - grade lithium hydroxide) decreased, and prices of some other products (such as hexafluorophosphate lithium) increased [5]. - Price differences: The price difference between battery - grade and industrial - grade lithium carbonate remained unchanged, while the price difference between battery - grade lithium hydroxide and battery - grade lithium carbonate decreased [5]. - Cell and battery prices: Most cell and battery prices remained unchanged, except for the cobalt - acid lithium cell price which increased slightly [5]. 3.3 Chart Analysis - Ore prices: Charts show the price trends of lithium - containing ores such as spodumene concentrate, lithium mica, and phospho - lithium - aluminum stone from 2024 to 2025 [6][8][9]. - Lithium and lithium salt prices: Charts display the price trends of metal lithium, battery - grade and industrial - grade lithium carbonate, battery - grade and industrial - grade lithium hydroxide, and hexafluorophosphate lithium from 2024 to 2025 [10][12][14]. - Price differences: Charts present the price differences between battery - grade lithium hydroxide and battery - grade lithium carbonate, battery - grade and industrial - grade lithium carbonate, and some international - domestic price differences, as well as the basis from 2024 to 2025 [17][18][22]. - Precursor and cathode material prices: Charts show the price trends of ternary precursors, ternary materials, lithium iron phosphate, manganese - acid lithium, and cobalt - acid lithium from 2024 to 2025 [24][26][29]. - Lithium battery prices: Charts display the price trends of 523 square ternary cells, square lithium - iron phosphate cells, cobalt - acid lithium cells, and square lithium - iron phosphate batteries from 2024 to 2025 [32][34]. - Inventory: Charts show the inventory trends of downstream, smelters, and other links from February 27, 2025, to October 16, 2025 [37][38][39]. - Production costs: The chart shows the production profit trends of lithium carbonate from different raw materials such as外购三元极片黑粉, 外购磷酸铁锂极片黑粉, 外购锂云母精矿, and 外购锂辉石精矿 from 2024 to 2025 [41][42].

倒计时32天 2025（第十五届）高工锂电年会 暨十五周年庆典&高工金球奖颁奖典礼 主办单位： 高工锂电、高工产研（GGII） 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 杉杉科技、英联复合集流体、逸飞激光、华视集团、欧科工业空调、宇电自动化 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 当前，高能超声波空化处理作为微纳米材料分散新兴核心技术，凭借分散能力强、效率高、能耗低的优势，在锂电材料制备领域前景广阔。 其核心的超声空化效应，能通过超声波振动形成 "微小气泡瞬时爆炸"，实现颗粒高效分散，但传统设备长期面临"批量处理效率"与"运行稳定性"难 以兼顾的产业化瓶颈。 中科雷舜智能科技 (宁波)有 限公司 ，由雷索智能与中国科学院宁波材料技术与工程研究所共建 ，专注大功率超声波空化核心部件及成套分散设备 研发，经过十余年的技术创新与积累，现已成功突破适用于大规模量产的超声波空化处理装备技术难题，并针对锂电行业形成成熟方案。 不仅开发出适用于正负极材料及隔膜浆料匀浆 ...

1、近日山西贝特瑞（贝特瑞持股47%），上市公司外协企业。通知部分订单涨价2000~3000元，上市公司。目前负极行业整体产能利用率持续抬升，头部企业 订单饱满，据产业反馈，头部企业已实现给部分客户的涨价，预计给大客户的涨价在Q4落地。 2、目前头部负极公司均处于满产状态，并向外寻求外协产能。 3、锂电需求持续超预期，中游材料环节供需态势呈现逐步逆转的态势，负极等环节反馈价格调涨 半仙点评：负极这波涨价大概率是散单，大客户谈涨价的难度还是太大。 期推荐 加入社群 添加半仙微信，备注"进群"，邀请你加入锂电行业社群，获得行业最新动态、行业干货报告和精准人脉。 比亚迪出海：发力东南亚 CATL 往 主机厂电芯采购：兼顾性能和成本 ：储能市场增长高于动力 本公众号基于分享的目的转载，转载文章的版权归原作者或原公众号所有，如有涉及侵权请及时告知，我们将予以核实并删除。 ...

Group 1 - The 2025 (15th) Gaogong Lithium Battery Annual Conference will be held from November 18-20, 2025, at the JW Marriott Hotel in Qianhai, Shenzhen [1][3] - The conference will feature a 15th anniversary celebration and the Gaogong Golden Ball Award ceremony, along with the release of a blue paper and themed sessions addressing industry concerns [4] - Dongguan Fang'en Electronic Materials Technology Co., Ltd. is focusing on the lithium battery materials sector, developing specialized adhesive tapes to address various application pain points in cylindrical, soft-pack, and dynamic storage batteries [2][3] Group 2 - The demand for battery safety and reliability in the lithium battery industry is increasing, leading to the importance of specialized adhesive tapes as key supporting materials [2] - Fang'en Electronic's specialized adhesive tapes aim to solve issues such as short circuits caused by shaking, cell detachment, and packaging warping, and are also compatible with the development trend of solid-state batteries [2]

Group 1 - The solid-state battery is identified as the core direction of next-generation technology in the continuously upgrading new energy industry, with dry electrode technology being a key breakthrough for its industrialization [2][4] - Qingyan Electronics, established with support from Shenzhen Tsinghua University Research Institute, has achieved continuous mass production application of core powder film technology, contributing to solid-state battery R&D projects [2][4] - The company has formed joint ventures with quality enterprises in the industry to optimize core equipment performance, facilitating the transition of technology from the laboratory to actual production lines [3] Group 2 - Qingyan Electronics is recognized as an important promoter in the solid-state battery supply chain, with its developed modified binders compatible with solid electrolytes supporting improvements in battery energy density and cycle life [4] - The company will deliver a keynote speech at the upcoming 2025 High-Performance Lithium Battery Annual Conference, sharing industry insights and technological achievements [5] - The conference will also feature a 15th-anniversary celebration, the High-Performance Golden Ball Award ceremony, and the release of a blue paper, along with themed sessions addressing industry concerns [5]

日前，王乾在接受中国证券报记者采访时，分享了自己践行价值投资的本心与思路。基于长周期投资视 角，王乾始终坚持以合理的价格买入高质量资产，为组合提供足够的安全边际，致力于为基金持有人实 现长期绝对收益。王乾认为，当前部分顺周期及内需类资产已具备可观的隐含回报率，市场风格的再平 衡需要等待基本面的实质改善。 近期市场科技成长风格占优，但仍有一批坚守价值风格的主动权益基金经理稳步前行，永赢基金权益研 究部总经理、基金经理王乾就是其中的一位。十余年的卖方研究经历，为他打下了扎实的行业与公司研 究基础，也让他在面对风格轮转时更加坦然和从容。 保持投资风格稳定 今年以来，科技成长风格强势走高，而价值风格阶段性落后。身为价值派投资者，王乾并不悲观，难得 地保持着理性客观的良好心态。 "风格轮转是市场运行的客观组成，在科技成长行情阶段占优的情况下，成长风格的基金经理业绩领先 是很自然的事情。"在王乾看来，价值投资最重要的是要耐得住寂寞，按照既定策略保证组合稳定运 行，打造符合部分投资者长期理财需求的净值曲线。 逆向策略与长期持股相结合 基于长周期的价值投资视角，在王乾眼中，投资本质上就是以合适价格买入好公司，优质资产是组合长 ...

【DT新材料】 获悉，彭博社报道， 欧盟方面正探讨为中国在欧投资设置一系列前置条件，其中包括技术与知识产权的移交，同时确保中国投资能为欧 盟带来新的就业岗位。 根据最新规定，境外销售任何原产自中国、或使用了中国稀土冶炼分离技术的产品，都必须获得中国商务部的出口许可证。 外国公司出口含有哪怕是微量中国稀土材料的产品，都需事先获得批准。这是中国首次将其出口管制措施的效力延伸至海外。 其核心目标是"保护欧洲的工业，特别是汽车产业"。若该政策落地，将彻底改变欧盟处理对华投资的方式。 中国外交部发言人林剑表示，中方反对强制技术转让，以及"以提升竞争力为名搞保护主义、歧视性做法"。 欧盟近几个月来对华立场逐步强硬化。 上周，欧盟委员会提议对超出配额的进口钢铁征收50%的关税，以应对由中国主导的全球产能过剩问题。 荷兰政府更是罕见地动用了已有70年历史的法律， 强制接管了中资控股的芯片制造商安世半导体，其图在于确保欧洲对关键芯片的"不受限制的访问 权"。 点击阅读 ： 突发！闻泰科技：荷兰子公司安世半导体遭冻结，控制权暂时受限 这些行动的背后，是欧洲在地缘政治风险下对供应链安全的深层焦虑。 欧盟官员尤其担心，中国最新稀土出 ...

Group 1: Overall Situation of New Energy - Despite recent volatility in the new energy sector, the overall fundamentals are gradually improving, presenting a good opportunity for investment after adjustments [1] - Three main lines to focus on include strong performance in offshore wind, continuous demand growth in energy storage, and improved supply-demand dynamics in lithium batteries [1] - The upcoming Fourth Plenary Session is a critical observation point for anti-involution policies, particularly in the silicon material and lithium battery sectors [1] Group 2: Lithium Battery Sector Expectations - The lithium battery sector is expected to see steady improvement in Q3 due to increased production from leading manufacturers, driven by rising demand and supply constraints [2] - The outlook for the future indicates sustained high growth in lithium battery demand, particularly in the energy storage and commercial vehicle markets, with significant price increases anticipated in certain materials [2] - Recent breakthroughs in solid-state battery technology are expected to catalyze market activity in Q4, with a focus on specific components like iodide ions and electrolytes [2] Group 3: Photovoltaic Sector Expectations - The photovoltaic sector is experiencing upward pressure on silicon material prices, leading to reduced inventory impairment and improved Q3 performance for some silicon material companies [3] - However, the overall performance in Q3 is expected to remain flat compared to Q2 due to declining terminal demand and price pressures in the module segment [3] - Future support for the industry is anticipated from policy backing, market clearing, and technological advancements, with a focus on silicon materials, battery upgrades, and module pricing dynamics [3] Group 4: Wind Power Sector Expectations - The wind power sector is benefiting from accelerated project construction and a positive pricing environment, with Q3 performance expected to reflect volume and price increases [4] - The sector is poised for a new upward cycle, particularly in offshore wind, with significant growth potential in deep-sea projects and positive policy support [4] - Onshore wind projects are also expected to see optimistic shipment guidance and a recovery in bidding activities [4] Group 5: Investment Participation in New Energy - A diversified index-based approach is recommended for participating in the new energy sector [5] - Investors interested in lithium battery demand and solid-state battery breakthroughs can consider the New Energy Vehicle ETF, which covers the entire lithium battery supply chain [5] - For comprehensive exposure to lithium, energy storage, photovoltaic, and wind power, investors may look at the 20cm ChiNext New Energy ETF and the Carbon Neutrality 50 ETF for balanced allocations [5]

Core Viewpoint - The A-share market is experiencing a mixed trading pattern characterized by "traditional defensive sectors outperforming while technology growth sectors are undergoing a pullback" [1] Market Performance - A-share market showed a slight increase with the Shanghai Composite Index closing at 3916.23 points, up 0.1%, while the Shenzhen Component and ChiNext Index fell by 0.25% and rose by 0.38% respectively [2] - The Hang Seng Index closed down 0.09% at 25888.51 points, with the Hang Seng Tech Index dropping 1.18% to 6003.56 points, indicating pressure on tech leaders [2] Industry Highlights and Driving Logic - The coal sector led gains with a 2.35% increase, driven by winter demand and valuation recovery of state-owned enterprises [3] - The banking sector rose by 1.35%, with regional banks performing well due to their low valuation and high dividend appeal [3] - The insurance sector increased by 1.8%, supported by positive third-quarter earnings expectations [3] - The technology growth sector faced a collective pullback, with the humanoid robot index down 2.04% due to clarifications from a leading company regarding order rumors [3] - The artificial intelligence index fell by 1.3%, reflecting profit-taking pressures [3] Investment Strategy Recommendations - The market is in a "high valuation digestion + low valuation rebound" phase, with policy expectations and industry prosperity set to guide market direction [4] - Suggested investment lines include focusing on the technology growth sector for recovery opportunities, particularly in the AI industry chain [4] - Emphasis on cyclical and resource sectors driven by "policy + supply-demand" dynamics, with copper and aluminum expected to benefit from global easing and policy support [4] Policy-Driven Opportunities - Focus on high-end manufacturing sectors such as industrial robots and semiconductor equipment, which are expected to benefit from self-sufficiency policies [5] - The consumer sector is advised to target leading brands for low-position recovery, with e-commerce logistics indices indicating a continuation of consumption recovery trends [5]