Group 1 - The core viewpoint of the article indicates that the recent news of Jiangte Electric's subsidiary resuming production has alleviated concerns about tight lithium carbonate supply, leading to a significant drop in lithium carbonate futures prices [1][3] - As of August 20, all lithium carbonate futures contracts experienced a limit down, with a daily decline of 8%, bringing the main contract price below 81,000 yuan per ton [1][2] - The market sentiment shifted due to the announcement from Jiangte Electric, which stated that its subsidiary Yichun Yinli would resume operations, causing a rapid decline in lithium prices and reversing gains made since August 11 [3][4] Group 2 - The expectation of supply reduction had previously driven lithium carbonate prices higher, particularly after news of the suspension of lithium mining operations in Yichun [3][5] - Despite the recent price drop, analysts believe that the fundamentals supporting a rebound in lithium carbonate prices remain intact, as uncertainties in domestic lithium resource supply persist [5][6] - The upcoming demand peak in September and October is expected to support market expectations for downstream stocking and accelerated replenishment [6][7] Group 3 - Recent data shows that domestic lithium carbonate production reached a new high of approximately 20,000 tons per week as of August 14, indicating a simultaneous increase in production alongside rising prices [4][5] - The market is currently experiencing a situation of increasing production and decreasing inventory, which supports bullish expectations for lithium prices [5][6] - Analysts suggest that while short-term price fluctuations are influenced by market sentiment and capital dynamics, the long-term price movements will ultimately return to supply-demand fundamentals [6][7]

Group 1 - The core viewpoint of the article highlights a wave of production restrictions across various industries in China, including lithium mining, cement, steel, pork, and automobiles, indicating a broader trend of "anti-involution" [1] Group 2 - The article mentions that the production halt of lithium mines by CATL is just the beginning of this trend, suggesting potential implications for the lithium supply chain and related industries [1]

Core Viewpoint - The price of lithium carbonate has experienced fluctuations due to supply concerns, particularly following production halts by major companies, but the long-term outlook suggests a supply surplus will limit further price increases [1] Price Movements - As of August 19, the benchmark price for battery-grade lithium carbonate is 82,733 yuan/ton, reflecting a 16% increase from the beginning of the month and a 28.27% increase month-over-month [1] - The industrial-grade lithium carbonate benchmark price stands at 81,166 yuan/ton, showing a 15.46% increase from the start of the month and a 28.5% increase month-over-month [1] Supply Chain Disruptions - Recent production halts at CATL's mining operations in Jiangxi due to expired mining permits have raised concerns about supply tightening, contributing to a significant price surge [1] - Additionally, Albemarle's lithium processing plant in La Negra, Chile, faced temporary shutdowns due to an acid pipeline explosion, further exacerbating supply issues and stimulating price increases [1] Market Outlook - Despite short-term price volatility driven by supply-side disruptions, analysts believe that the fundamental market condition of supply exceeding demand remains unchanged, indicating limited potential for further price increases in the long term [1]

1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Core Viewpoints of the Report - The supply of lithium carbonate last week showed an increase, with production reaching 19,980 tons, a 2.16% week - on - week growth and higher than the historical average. Demand - side inventory of sample enterprises also increased, with the inventory of lithium iron phosphate sample enterprises rising by 0.51% to 95,081 tons and that of ternary material sample enterprises increasing by 4.45% to 17,296 tons. [8] - In terms of cost, the cost of purchasing spodumene concentrate was 82,375 yuan/ton, with a daily increase of 0.04%, resulting in a profit of 2,126 yuan/ton. The cost of purchasing lepidolite was 86,253 yuan/ton, remaining unchanged, leading to a loss of 3,890 yuan/ton. The cost of the recycling end was close to that of the ore end, with average production enthusiasm. The quarterly cash production cost of the salt - lake end was 31,745 yuan/ton, significantly lower than that of the ore end, with sufficient profit margins and strong production motivation. [9] - The overall assessment of the fundamentals is neutral. The basis on August 19th showed that the spot price of battery - grade lithium carbonate was 85,700 yuan/ton, and the basis of the 11 - contract was - 1,840 yuan/ton, indicating that the spot was at a discount to the futures, which is bearish. The overall inventory situation was complex, with the smelter inventory decreasing by 2.56% to 49,693 tons, lower than the historical average, while the downstream and other inventories increased, and the overall inventory decreased slightly by 0.11% to 142,256 tons, higher than the historical average, which is neutral. The disk showed that MA20 was upward, and the futures price of the 11 - contract closed above MA20, which is bullish. The net short position of the main contract decreased, which is bearish. [9] - In terms of expectations, in July 2025, the production of lithium carbonate was 81,530 physical tons, and the predicted production for the next month is 84,200 physical tons, a 3.27% increase. The import volume in July was 18,000 physical tons, and the predicted import volume for the next month is 18,500 physical tons, a 2.78% increase. It is expected that demand will strengthen next month, and inventory may be reduced. The 2511 contract of lithium carbonate is expected to fluctuate in the range of 85,640 - 89,440 yuan/ton. [9] - The main logic is that the mismatch between production capacity leads to a situation of strong supply and weak demand, and the downward trend is difficult to change. [12] 3. Summary According to the Directory 3.1 Daily Views - Supply: Last week, lithium carbonate production was 19,980 tons, a 2.16% week - on - week increase and higher than the historical average [8]. - Demand: The inventory of lithium iron phosphate sample enterprises was 95,081 tons, a 0.51% week - on - week increase, and that of ternary material sample enterprises was 17,296 tons, a 4.45% week - on - week increase [8]. - Cost: The cost of purchasing spodumene concentrate was 82,375 yuan/ton, a 0.04% daily increase, with a profit of 2,126 yuan/ton; the cost of purchasing lepidolite was 86,253 yuan/ton, remaining unchanged, with a loss of 3,890 yuan/ton; the cost of the recycling end was close to that of the ore end, with average production enthusiasm; the quarterly cash production cost of the salt - lake end was 31,745 yuan/ton, significantly lower than that of the ore end, with sufficient profit margins and strong production motivation [9]. - Fundamentals: Neutral; Basis: Bearish; Inventory: Neutral; Disk: Bullish; Main Position: Bearish [9]. - Expectations: In July 2025, lithium carbonate production was 81,530 physical tons, predicted to be 84,200 physical tons next month (3.27% increase); import volume was 18,000 physical tons, predicted to be 18,500 physical tons next month (2.78% increase). Demand is expected to strengthen next month, and inventory may be reduced. The 2511 contract of lithium carbonate is expected to fluctuate in the range of 85,640 - 89,440 yuan/ton [9]. 3.2 Fundamentals/Position Data - **Supply - side Data** - The weekly operating rate was 63.92%, remaining unchanged. The daily production cost of spodumene was 82,375 yuan/ton, a 0.04% increase. The monthly processing cost of spodumene was 19,810 yuan/ton, a 0.30% increase. The daily production profit of spodumene was 2,126 yuan/ton, a 98.88% increase. The daily production cost of lepidolite was 86,253 yuan/ton, remaining unchanged. The monthly processing cost of lepidolite was 35,300 yuan/ton, a 1.48% decrease. The daily production profit of lepidolite was - 3,890 yuan/ton, a 21.70% decrease. The total weekly inventory of lithium carbonate was 142,256 tons, a 0.11% decrease. The smelter inventory was 49,693 tons, a 2.56% decrease. The downstream inventory was 48,283 tons, a 0.26% increase. Other inventory was 44,280 tons, a 2.36% increase. The monthly total production of lithium carbonate was 81,530 tons, a 4.41% increase. The monthly production of lithium concentrate was 44,810 tons, a 13.59% increase. The monthly production of lepidolite was 18,000 tons, a 7.60% decrease. The monthly production of salt - lake lithium was 12,340 tons, a 7.57% decrease. The monthly production of recycled lithium was 6,380 tons, a 9.81% increase. The monthly import volume of lithium concentrate was 427,626 tons, a 17.25% decrease. The monthly import volume of lithium carbonate was 17,697.62 tons, a 16.31% decrease. The monthly net import volume was 17,267.97 tons, a 17.22% decrease. The supply - demand balance was 2.682 million tons, a 67.31% increase [16]. - **Demand - side Data** - The monthly operating rate of lithium iron phosphate was 59%, a 5.36% increase. The monthly production was 252,200 tons, a 9.70% increase. The monthly operating rate of ternary precursor was 50.97%, a 2.93% increase. The monthly production was 68,640 tons, a 5.75% increase. The weekly inventory of ternary materials was 17,296 tons, a 4.45% increase. The monthly total battery loading volume was 55,900 GWh, a 3.95% decrease. The loading volume of lithium iron phosphate batteries was 10,900 GWh, a 1.87% increase. The loading volume of ternary batteries was 44,900 GWh, a 5.27% decrease. The production of new energy vehicles was 1,268,000 units, a 0.16% decrease. The sales volume of new energy vehicles was 1.329 million units, a 1.68% increase. The export volume of new energy vehicles was 205,000 units, a 3.30% decrease. The penetration rate of new energy vehicle sales was 48.67%, a 6.36% increase [16].

Financial Performance - Rongjie Co., Ltd. reported a total revenue of 303 million yuan for the first half of 2025, an increase of 21.06% year-on-year, while the net profit attributable to shareholders was 85.41 million yuan, a decrease of 48.54% year-on-year [1] - In Q2 2025, the company achieved a revenue of 208 million yuan, up 23.88% year-on-year, but the net profit attributable to shareholders fell by 52.58% to 65.38 million yuan [1] - The gross profit margin was 45.12%, an increase of 1.32% year-on-year, while the net profit margin decreased by 55.66% to 27.77% [1] Expense Analysis - Total selling, administrative, and financial expenses amounted to 58.43 million yuan, accounting for 19.26% of revenue, which is an increase of 9.66% year-on-year [1] - Operating cash flow per share was 0.69 yuan, down 35.88% year-on-year, and earnings per share were 0.33 yuan, a decrease of 48.55% [1] Balance Sheet Changes - Cash and cash equivalents decreased by 47.87% due to increased investments in financial products [2] - Accounts receivable increased by 50.47% due to higher sales, while inventory rose by 68.84% due to increased finished goods and shipped products [2] - Short-term borrowings decreased by 90% as the company repaid bank loans [3] Liabilities and Provisions - Contract liabilities increased by 178.03% due to higher prepayments for lithium battery equipment [3] - Accounts payable rose by 128.36% due to increased processing and transportation fees for lithium concentrate [3] - Estimated liabilities increased by 156.22% due to provisions for mine ecological restoration costs [4] Cash Flow and Investment - Net cash flow from operating activities decreased by 35.88% due to lower cash receipts from sales [5] - Investment income fell by 77.54% due to reduced returns from financial products and joint venture investments [5] Fund Holdings - The largest fund holding Rongjie Co., Ltd. is Chang'an Xinxin Flexible Allocation Mixed A, with 513,000 shares, which has reduced its holdings [6] - The fund's current scale is 62 million yuan, with a net value of 0.3776 as of August 19, down 0.42% from the previous trading day [6]

转自：证券时报 人民财讯8月19日电，雅化集团(002497)8月19日晚间披露2025年半年报，公司上半年实现营业收入34.23 亿元，同比下降13.04%；归母净利润为1.36亿元，同比增长32.87%。基本每股收益0.1178元。报告期 内，公司锂盐长协客户订单需求稳定，同时公司积极拓展国内外新客户，持续优化客户结构，公司津巴 布韦卡玛蒂维锂矿所产出的锂精矿已用于产品生产，公司锂矿自给率的提升为锂盐产品成本端带来积极 影响，但2025年上半年，锂行业受整体供大于求以及关税事件扰动等影响，锂价自二季度开始持续下 跌，导致公司锂业务盈利受到较大影响。 ...

Core Viewpoint - The lithium carbonate price has surged due to the production halt at Ningde Times' Yichun mining area, leading to a recovery in the lithium salt market [1][2] Company Summary - Jiangte Electric (002176.SZ) announced that its wholly-owned subsidiary Yichun Yinli will resume production soon, with the lithium salt plant expected to be profitable given the current market conditions [1] - The company had previously announced a 26-day equipment maintenance period for Yichun Yinli starting July 25, aimed at improving operational efficiency and reducing costs [1] - In 2024, Jiangte Electric's revenue from lithium mining and salt manufacturing was reported at 1.049 billion yuan, accounting for 49.87% of total revenue, a decrease of 36.26% from 2023 [2] Industry Summary - Lithium carbonate is a key raw material for lithium batteries, widely used in electric vehicles, energy storage, and consumer electronics [2] - The price of battery-grade lithium carbonate has stabilized around 86,500 yuan/ton, with futures contracts showing an upward trend, reaching a peak of 90,100 yuan/ton [2] - Analysts suggest that lithium prices are unlikely to exceed 90,000 yuan/ton due to profitability concerns for global lithium mines, while prices above 80,000 yuan/ton are considered balanced for both upstream and downstream players [3] - South American countries like Chile and Argentina are planning to add significant lithium production capacity, which is expected to support global supply [3]

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core View - The market has basically digested the suspension of lithium mines in Jiangxi, and the spot price has risen. If the scope of production cuts does not further expand, the futures price is expected to fluctuate [2] 3. Summary by Relevant Catalogs Lithium Compound Prices - SMM battery - grade lithium carbonate average price is 84,600 yuan/ton, up 1,900 yuan/ton; SMM industrial - grade lithium carbonate average price is 82,300 yuan/ton, up 1,900 yuan/ton [1] Lithium Futures Contracts - The closing price of lithium carbonate 2509 is 89,300 yuan/ton, with a daily increase of 4.86%; lithium carbonate 2510 is 89,280 yuan/ton, up 4.64%; lithium carbonate 2511 is 89,240 yuan/ton, up 4.67%; lithium carbonate 2512 is 89,240 yuan/ton, up 4.86%; lithium carbonate 2601 is 89,040 yuan/ton, up 4.95% [1] Lithium Ore Prices - Lithium spodumene concentrate (CIF China) is 978 yuan/ton, up 38 yuan/ton; lithium mica (Li20: 1.5% - 2.0%) is 1,385 yuan/ton, up 65 yuan/ton; lithium mica (Li20: 2.0% - 2.5%) is 2,185 yuan/ton, up 85 yuan/ton; phospho - lithium - aluminum stone (Li20: 6% - 7%) is 7,700 yuan/ton; phospho - lithium - aluminum stone (Li20: 7% - 8%) is 8,850 yuan/ton, up 410 yuan/ton [1][2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 2,300 yuan/ton; the price spread between battery - grade lithium carbonate and the main contract is - 4,640 yuan/ton, down 440 yuan/ton; the price spread between the near - month and the first - continuous contract is 20 yuan/ton, up 100 yuan/ton; the price spread between the near - month and the second - continuous contract is 60 yuan/ton, up 40 yuan/ton [2] Inventory - The total weekly inventory is 142,256 tons, down 162 tons; the weekly inventory of smelters is 49,693 tons, down 1,306 tons; the weekly inventory of downstream is 48,283 tons, up 124 tons; the weekly inventory of others is 44,280 tons, up 1,020 tons; the daily registered warehouse receipts are 23,555 tons, up 70 tons [2] Production Profit - The cash cost of purchasing lithium spodumene concentrate is 82,343 yuan/ton, and the profit is 1,069 yuan/ton; the cash cost of purchasing lithium mica concentrate is 86,253 yuan/ton, and the profit is - 4,968 yuan/ton [2] Company News - Ganfeng Lithium announced on the evening of August 12 to jointly develop the Pozuelos - Pastos Grandes salt lake basin in Argentina with Lithium Argentina AG, with a planned annual production capacity of up to 150,000 tons of LCE lithium products [2] - Albemarle's lithium plant in Chile resumed normal operation after an accident last week [2] - Jiangte Motor announced on August 13 that it has multiple mining and exploration rights in Yichun, with lithium ore resources of over 100 million tons. The Qikeng lithium mine, with a mining license, has an ore resource reserve of 72.93 million tons at a Li20 average grade of 0.44%, and 126.67 million tons at a Li20 average grade of 0.39% [2]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - Over the next 1 - 2 weeks, the lithium carbonate futures market may shift to a wide - range, volatile, and bullish pattern. Although supply disturbances have boosted market bullish sentiment, the impact of current mine shutdowns on actual production is yet to be seen, and lithium salt plants maintain high operating rates, so the spot market still faces inventory pressure. On the demand side, the growth rate of new energy vehicle sales is slowing down, and the "anti - involution" initiative in the battery industry chain restrains the mid - stream's impulse to expand production, so there is a risk of revising the peak - season expectations. Attention should be paid to the marginal changes in policy implementation and the progress of mine rectification in Jiangxi [3]. Group 3: Summary According to the Table of Contents 1. Daily Market Summary - **Analysis of Lithium Carbonate Futures Market Data** - On August 18, the price of the lithium carbonate main contract rose to 89,240 yuan/ton; the basis weakened from - 3,600 yuan/ton to - 5,940 yuan/ton, indicating that the market's pricing of the supply - tightening expectation increased [1]. - The open interest of the main contract increased by 19,967 lots to 421,106 lots, and the trading volume increased to 1.036328 million lots. The simultaneous expansion of volume and open interest shows that the divergence among funds on the direction of lithium prices has intensified, and the market's gambling sentiment has heated up [1]. - **Analysis of Industrial Chain Supply - Demand and Inventory Changes** - **Supply side**: The shutdown of Ningde Times' Jianxiawo Mine in Jiangxi has triggered market concerns about the shortage of lithium mica supply. Coupled with the regulatory pressure on local mines to complete the re - application of ore types by September 30, the uncertainty of lithium ore supply has increased. However, the prices of spodumene concentrate and lithium mica concentrate are stable at 940 yuan/ton and 990 yuan/ton respectively, and the weekly capacity utilization rate of lithium carbonate remains flat at 63.92%. The short - term actual supply has not significantly shrunk [2]. - **Demand side**: The retail performance of new energy vehicles is moderate, with the year - on - year growth rate dropping to 6% from August 1 - 10, indicating marginal weakening pressure on demand. However, the price of lithium hexafluorophosphate increased by 0.54% week - on - week to 55,500 yuan/ton, and the price of power ternary materials slightly increased by 0.42% to 119,695 yuan/ton, indicating that there is still some support for downstream inventory - building demand [2]. - **Inventory and warehouse receipts**: Lithium carbonate inventory decreased slightly by 162 physical tons to 142,256 tons (a decrease of 0.11%), and the absolute value is still at a high level this year. The number of warehouse receipts has not changed abnormally, and the overall inventory pressure has not been substantially relieved [2]. - **Market Price** - Future 1 - 2 weeks, the lithium carbonate futures market may enter a wide - range, volatile, and bullish pattern. Although supply disturbances have boosted market bullish sentiment, the impact of current mine shutdowns on actual production is yet to be seen, and the spot market still faces inventory pressure. On the demand side, the growth rate of new energy vehicle sales is slowing down, and the "anti - involution" initiative in the battery industry chain restrains the mid - stream's impulse to expand production, so there is a risk of revising the peak - season expectations. Attention should be paid to the marginal changes in policy implementation and the progress of mine rectification in Jiangxi [3]. 2. Industrial Chain Price Monitoring - From August 15 to August 18, the price of the lithium carbonate main contract rose from 86,900 yuan/ton to 89,240 yuan/ton, an increase of 2,340 yuan or 2.69%. The basis weakened from - 3,600 yuan/ton to - 5,940 yuan/ton, a decrease of 2,340 yuan or 65%. The open interest of the main contract increased from 401,139 lots to 421,106 lots, an increase of 19,967 lots or 4.98%. The trading volume of the main contract increased from 868,811 lots to 1,036,328 lots, an increase of 167,517 lots or 19.28% [5]. - The market price of battery - grade lithium carbonate remained unchanged at 83,300 yuan/ton. The market prices of spodumene concentrate and lithium mica concentrate remained unchanged at 940 yuan/ton and 990 yuan/ton respectively. The price of lithium hexafluorophosphate increased from 55,200 yuan/ton to 55,500 yuan/ton, an increase of 300 yuan or 0.54%. The price of power ternary materials increased from 119,195 yuan/ton to 119,695 yuan/ton, an increase of 500 yuan or 0.42%. The price of power lithium iron phosphate increased from 35,655 yuan/ton to 36,170 yuan/ton, an increase of 515 yuan or 1.44% [5]. - From August 8 to August 15, the capacity utilization rate of lithium carbonate remained unchanged at 63.92%. Lithium carbonate inventory decreased from 142,418 physical tons to 142,256 physical tons, a decrease of 162 physical tons or 0.11%. The price of 523 cylindrical ternary cells increased from 4.31 yuan/piece to 4.32 yuan/piece, an increase of 0.01 yuan or 0.23%. The price of 523 square ternary cells increased from 0.38 yuan/Wh to 0.39 yuan/Wh, an increase of 0.00 yuan or 0.26%. The price of 523 soft - pack ternary cells remained unchanged at 0.40 yuan/Wh. The price of square lithium iron phosphate cells remained unchanged at 0.32 yuan/Wh. The price of cobalt - acid lithium cells increased from 5.53 yuan/Ah to 5.55 yuan/Ah, an increase of 0.02 yuan or 0.36% [5]. 3. Industry Dynamics and Interpretation - **Spot Market Quotation (August 18)**: The SMM battery - grade lithium carbonate index price was 84,794 yuan/ton, a increase of 2,069 yuan/ton compared with the previous working day. The price range of battery - grade lithium carbonate was 82,500 - 86,700 yuan/ton, with an average price of 84,600 yuan/ton, a increase of 1,900 yuan/ton compared with the previous working day. The price range of industrial - grade lithium carbonate was 81,600 - 83,000 yuan/ton, with an average price of 82,300 yuan/ton, a increase of 1,900 yuan/ton compared with the previous working day. Affected by the news that a lithium salt production enterprise in Qinghai may face shutdown due to the mining license issue, the futures price continued to rise, breaking through the 90,000 - yuan/ton mark at the highest. The downstream purchasing enthusiasm continued to increase, and the market activity increased. Due to the rigid - demand purchasing needs of some downstream enterprises and the general reluctance - to - sell sentiment of upstream and traders, the center of the spot transaction price of lithium carbonate continued to move up significantly. Under the dual effects of the supply - tightening expectation and the peak - demand season, the spot price of lithium carbonate is expected to have room for an upward movement, and the price center may continue to move up in the short term. The trading sentiment factor of lithium carbonate on this day was 2.31, the upstream shipping sentiment factor was 2.67, and the downstream purchasing sentiment factor was 2.05. The downstream purchasing sentiment factor increased compared with the previous working day, and the upstream shipping sentiment factor remained relatively stable [6]. - **Downstream Consumption Situation (August 13)**: According to the data of the Passenger Car Association, from August 1 - 10, the retail sales of new energy vehicles in the national passenger car market were 262,000 units, a year - on - year increase of 6% and a month - on - month increase of 6%. The retail penetration rate of the national new energy market was 57.9%. The cumulative retail sales this year were 6.717 million units, a year - on - year increase of 28%. From August 1 - 10, the wholesale sales of new energy vehicles by national passenger car manufacturers were 229,000 units, a year - on - year increase of 15% and a month - on - month decrease of 2%. The wholesale penetration rate of new energy manufacturers was 56.8%. The cumulative wholesale sales this year were 7.862 million units, a year - on - year increase of 35% [6]. - **Industry News** - August 15: Ningde Times' Jianxiawo Mine, one of the largest lithium mica mines in Yichun, announced a shutdown due to the expiration of the mining license, which will directly affect the change in lithium carbonate prices. Local mines in Yichun mainly mine ceramic soil and tantalum - niobium ore, but the new mining law revision tends to determine the ore type based on the actual economic behavior. There are a total of eight mines in the same situation, and local authorities require them to re - apply before September 30 this year [8]. - August 13: An "anti - involution" storm is sweeping through the entire lithium - battery industry chain. On August 12, the Lithium Industry Branch of the China Non - Ferrous Metals Industry Association issued an initiative for the healthy development of the lithium industry, calling on the entire industry chain to jointly resist vicious competition and promote the high - quality development of the lithium industry. The initiative includes strengthening upstream - downstream collaboration, maintaining industrial safety, adhering to the principle of fair market competition, and actively assessing market trends to reasonably plan new production capacities [8]. - July 23: On July 22, Yang Hongxin, the chairman of Hive Energy, revealed that Hive Energy is fully promoting the R & D and mass - production process of solid - state batteries. It plans to trial - produce the first - generation 140Ah semi - solid batteries on its 2.3GWh semi - solid mass - production line in the fourth quarter of 2025. These batteries will be used exclusively for the next - generation models of BMW MINI and are expected to be supplied on a large scale starting in 2027 [9]. 4. Industrial Chain Data Charts - The report provides data charts including the main contract and basis of lithium carbonate futures, lithium concentrate prices, hexafluorophosphate and electrolyte prices, ternary precursor prices, ternary material prices, lithium iron phosphate prices, lithium carbonate operating rate, lithium carbonate inventory, and cell selling prices, with data sources including iFinD, SMM, Shanghai Steel Union, and the R & D department of Tonghui Futures [10][13][15][17][18][21][22][24].

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-19 | 002460 | 竟锋锂业 | 38.95 | 5.17 | 201.37 | 中信证券股份有限 | 中信证券华南股份 | | | | | | | | 公司上海分公司 | 有限公司佛山分公 | | | | | | | | | 리 | 8月19日，赣锋锂业大宗交易成交5.17万股，成交额201.37万元，占当日总成交额的0.17%，成交价38.95元，较市场收盘价 38.95元持平。 ...