Core Insights - The report highlights significant growth in the power equipment and new energy sectors, driven by various government initiatives and technological advancements [1][2][3][4][6]. Group 1: Power Equipment and New Energy - The State Grid has announced the second round of equipment bidding for ultra-high voltage projects in 2025, indicating accelerated construction in this area [3][6]. - In Q1, the State Grid completed fixed asset investments exceeding 90 billion yuan, marking a nearly 30% year-on-year increase and setting a historical high for the same period [1][6]. - The application of humanoid robots in infrastructure construction by the Southern Power Grid represents a technological advancement in the sector [1][6]. Group 2: Solar and Energy Storage - Domestic solar installations saw a significant increase in March, with battery component exports also maintaining growth, indicating strong demand both domestically and internationally [2][6]. - The combination of policy changes and market conditions is expected to lead to a recovery in solar demand, particularly for leading companies like Sungrow and Aters [2][6]. Group 3: Wind Energy - The report notes a 366% year-on-year increase in Q1 performance for major wind energy companies, with exports of wind turbines rising by 43% [2][4][6]. - The Global Wind Energy Council's report anticipates continued high growth in onshore wind demand in emerging markets, projecting an average annual growth rate of nearly 20% from 2025 to 2030 [2][4]. Group 4: Electric Vehicles and Lithium Batteries - BYD's Q1 performance aligns with expectations, maintaining a steady operational outlook for Q2, supported by low costs and scale effects [3][7]. - Guoxuan High-Tech has expanded its production capacity for lithium-ion batteries, increasing its annual output target from 20 GWh to 28 GWh [4][7]. - The hydrogen fuel cell vehicle market is showing robust growth, with a significant increase in insurance registrations for these vehicles in Q1 [4][7]. Group 5: Industry Events - Key industry events include the opening of the Shanghai Auto Show and the release of Q1 financial reports from major players like BYD and Tesla [7]. - The establishment of a new battery industry group by Geely aims to enhance its capabilities across the entire battery supply chain [4][7].

Economic Overview - Chengdu leads with a GDP of 593.03 billion, while Mianyang's GDP surpasses 100 billion for the first time at 103.57 billion, ranking second [1][2] - The total GDP of Sichuan for Q1 is 1,524.692 billion, showing a year-on-year growth of 5.5% [1] Year-on-Year Growth Rates - Chengdu's GDP growth rate is 6.0%, exceeding the provincial average by 0.5 percentage points [2] - Meishan has the highest GDP growth rate at 7.6%, followed by Deyang at 7.5%, which is a significant improvement of 5 ranks from the previous year [2] - Nanchong's GDP growth rate is 5.6%, marking its best performance in five years [3] Industrial Performance - Sichuan's industrial output value increased by 7.2%, marking the strongest start in three years [4] - Meishan's industrial output value grew by 24.3%, the highest in the province, with significant contributions from new energy and materials sectors [4] - Zigong's industrial output value increased by 18.3%, ranking second in the province, while Bazhong achieved an 18.2% growth, ranking third [5] Future Economic Goals - Several cities aim to surpass significant GDP milestones, with Nanchong and Dazhou targeting 300 billion, and Meishan, Zigong, and Suining aiming for 200 billion [6] - The focus is on enhancing project construction and fostering private sector growth, with Dazhou planning to allocate 10 million for supporting private enterprises [7]

Investment Rating - The report does not provide specific ratings for sub-industries such as power station equipment, electrical equipment, power supply equipment, and new energy power systems [7]. Core Insights - The overall industry strategy emphasizes focusing on companies with strong Q1 reports and the acceleration of new globalization [3][4]. - The new energy vehicle supply chain has entered a new cycle, with companies like Weilan Lithium and Huayou Cobalt benefiting from strong Q1 performance [3]. - The overseas energy storage market shows robust order demand, with CATL holding a significant market share [5]. - The AI and new energy sectors are witnessing breakthroughs in new markets, with companies like XPeng and Zhejiang Rongtai benefiting from advancements in robotics [6]. Summary by Sections Industry Strategy - Focus on companies with good Q1 reports, particularly in high-barrier segments like lithium batteries, wind power, and energy storage [3]. - Companies with localized production overseas, such as EVE Energy, are expected to benefit from tariff changes [4]. New Energy Vehicle Supply Chain - Companies like Weilan Lithium and Huayou Cobalt reported significant profit increases in Q1 2025, with Weilan Lithium achieving a net profit of 142 million yuan, up 100.56% year-on-year [3]. - The new globalization trend is evident, with nine Chinese lithium battery companies establishing production in Malaysia [4]. Energy Storage Market - In Q1 2025, China's overseas energy storage orders exceeded 82 GWh, with CATL accounting for over half of these orders [5]. - Companies like Shangneng Electric reported a 16.78% increase in revenue and a 71.56% increase in net profit in Q1 2025, benefiting from the growth in the overseas energy storage market [5]. AI and New Energy Sectors - XPeng's humanoid robot IRON is set to be deployed in factories and stores, showcasing the integration of AI and robotics in the new energy sector [6]. - Companies like Guoda Special Materials and Daikin Heavy Industries reported substantial profit increases in Q1 2025, with Guoda's net profit rising by 1488.76% [6].

Investment Rating - The report maintains a "Recommended" rating for the industry [1] Core Views - The report highlights that the power equipment industry is experiencing positive fundamental changes and potential catalysts, maintaining an overall "Recommended" rating for the sector [9] Summary by Sections Recent Trends - In March, the domestic photovoltaic (PV) installed capacity reached 20.24GW, with a year-on-year growth of 79.9%. The report notes that component prices are declining due to supply-demand imbalances and inventory pressures, with expectations of a "bottom oscillation" trend in prices [5][6] Photovoltaic Sector - The report emphasizes the importance of supply-side reforms and suggests focusing on companies like LONGi Green Energy, JinkoSolar, and others involved in high-efficiency battery technology [6][7] Wind Power Sector - The report indicates that the wind power sector is entering a peak bidding season, with significant growth in the first quarter of 2025 for several companies. It suggests monitoring companies like Xinjiang Goldwind and others involved in offshore wind projects [7][8] Energy Storage - The report discusses the acceleration of policies in Europe regarding energy storage, highlighting Italy's €17.7 billion aid for energy storage projects and Bulgaria's approval of numerous renewable energy storage projects [8] Lithium Battery Sector - The report details CATL's recent technology day, showcasing new battery products, including the second-generation "Shenxing" battery and sodium-ion batteries, which are expected to enhance the company's competitive edge [8] Overall Industry Outlook - The report concludes that the power equipment industry is poised for growth, driven by advancements in technology and supportive policies, recommending a focus on key players in the sector [9]

碳酸锂日报 碳酸锂日报（2025 年 4 月 25 日） 一、研究观点 点 评 二、日度数据监测 | | | 锂电产业链产品价格 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 指 标 | 单 位 | 2025-04-24 | 2025-04-23 | 涨 跌 | | | 期 货 | 主力合约收盘价 | 元/吨 | 68300 | 68980 | -680 | | | | 连续合约收盘价 | 元/吨 | 68380 | 69060 | -680 | | | | 锂辉石精矿(6%,CIF中国) | 美元/吨 | 795 | 795 | 0 | | | | 锂云母（Li2O:1.5%-2.0%） | 元/吨 | 950 | 950 | 0 | | | 锂 矿 | 锂云母（Li2O:2.0%-2.5%） | 元/吨 | 1610 | 1610 | 0 | | | | 磷锂铝石（Li2O:6%-7%） | 元/吨 | 6700 | 6700 | 0 | | | | 磷锂铝石（Li2O:7%-8%） | 元/吨 | 7875 | 7875 | 0 ...

◆ 材料 ◆ 龙蟠科技印尼工厂二期项目开工 01 日前，在中国与印尼双方深化新能源产业合作的战略背景下，龙蟠科技旗下印尼锂源年产12万吨磷酸铁锂正极材料生产基地（二期）项目于印尼三 宝垄举行开工仪式。消息显示，印尼锂源项目自2021年启动以来便备受瞩目，一期3万吨磷酸铁锂产线于2024年建成投产，并于2025年1月实现首 批产品出货。 天齐锂业一季度净利扭亏为盈 ◆ 电池 ◆ 南都电源筹划港股上市 01 4月23日，南都电源发布筹划在香港联合交易所有限公司上市的公告。南都电源成立于1994年9月，2010年4月在A股创业板上市。公司总部位于浙 江，主要从事新型电力储能、工业储能和民用储能等领域的系统解决方案及运营服务。 02 天齐锂业公告称，预计2025年第一季度归属于上市公司股东的净利润为8200万元至1.23亿元，上年同期为亏损38.97亿元。随着国内新购锂精矿陆 续入库及库存锂精矿的逐步消化，公司各生产基地生产成本中耗用的化学级锂精矿成本基本贴近最新采购价格。 杉杉科技与OCSiAl开发新一代负极材料 03 近日，杉杉科技与OCSiAl达成战略合作。双方将围绕单壁碳纳米管在锂电负极材料中的应用展开深度技 ...

6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 近年来，中国锂电产业链企业已有不少选择将马来西亚作为出海战略地。电池企业包括，亿纬锂能、珠海冠宇、蔚蓝锂芯、海四达；材料企业则包括 新宙邦、星源材质、恩捷股份、科达利、尚太科技。 而回顾锂电产业出海潮，东南亚一贯受到锂电产业重视，且通常被作为整体探讨。 一方面，东南亚具备丰富的矿产资源。镍、钴两大锂电池生产关键矿产资源丰富，马来西亚邻国印尼，更是作为矿产大户，吸引了华友钴业、格林美 前去建厂，进行本土化生产。 另一方面，东南亚整体具备电动化市场空间，并且表现出以两轮车为主的特点。多数 东南亚国家 的 公共交通体系不算发达，公路覆盖比例较低， 两轮车的灵活性与低成本能解决更多东南亚民众的出行痛点。并且印尼、越南、泰国、菲律宾 ...

-广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：企业公告 END 会议主办： 鑫椤资讯 会议时间： 2025年7月8-9日（9号报到） 会议地点： 中国·上海 会议咨询： 19921233064（微信同） 湖北诺德锂电主要从事电解铜箔的生产和销售 ， 产品主要应用于锂电池生产制造和印制电路板制造。湖 北诺德锂电的控股股东为诺德股份全资子公司湖北诺德新材料集团有限公司，实际控制人为陈立志。陈立 志也是诺德股份的董事长、实际控制人。本次交易完成后，上市公司将持有湖北诺德锂电100%股权。 诺德股份曾表示，本次收购完成后，上市公司将增强对湖北诺德锂电的管理与控制力，有助于提升湖北诺 德锂电运营效率，进一步提升湖北诺德锂电的综合竞争力和盈利能力，有利于上市公司突出主营业务的核 心竞争优势。 同日，诺德股份公告，公司全资孙公司深圳百嘉达新能源材料有限公司与蜂巢能源科技股份有限公司签订 了《战略合作框架协议书》，双方将在产品供销、委 托加工等方面进行长期稳定合作，乙方确保自身充 分的竞争力。 未来3年，蜂巢能源预计向百嘉达采购5万吨锂电铜箔 ， 具体订购数量 ...

-广告- 消息显示，印尼锂源项目自2021年启动以来便备受瞩目， 一期3万吨磷酸铁锂产线于2024年 建成投产 ，并于2025年1月实现首批产品出货，标志着中国磷酸铁锂技术首次在海外实现规 模化量产。 年报显示，龙蟠科技2024年度营业收入76.73亿元，同比下降12.10%；归属于上市公司股东 的净亏损6.36亿元，亏损收窄。 其中，在磷酸铁锂正极材料业务方面，2024年，龙蟠科技共 生产18.47万吨磷酸铁锂，共销售17.83万吨磷酸铁锂，实现营收56.19亿元。 龙蟠科技表示， 2024年，公司在江西宜春建设的年产4万吨磷酸铁锂项目已达到预定可使用 状态。 同时公司积极推进海外磷酸铁锂工厂率先落地并释放产能，锁定海外头部客户未来五 年需求，有助于提高公司的利润水平。公司将继续加快推进海外业务布局，拓展海外市场份 额，强化全球化品牌形象，进一步提高资本实力和综合竞争力。 ——The End—— 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤储能 资讯~ 日前，在中国与印尼双方深化新能源产业合作的战略背景下，龙蟠科技（603906）旗下 印尼 锂源年产12万吨磷酸铁锂正极材料 ...

4月以来，全球见证了美国发起的史上最疯狂的关税战。这场由特朗普发起的全球"无差别攻击"，不仅 造成全球股市暴跌、金融秩序崩溃，也给包括中国储能电池在内的锂电行业带来巨大伤害。 4月15日，关税风暴再起，白宫公布对中国商品最高加征关税达245%。据《纽约时报》报道，锂电关税 税率，史无前例地达到173%。仅仅两个半月的时间，储能电池关税税率就从10.9%飙升至173%，翻了 近16倍。 一、关税两个半月翻16倍 美国对中国锂电池的关税究竟是如何加到173%的？这要追溯到7年前，锂电池行业从那天起便历经多轮 关税进逼。 | | 美国对中国动力及储能电池关税加征历程(截至2025年4月15日) | | | --- | --- | --- | | | 制图/华夏能源网 | | | 时间 | 动力电池 | 储能电池 | | 基础关税 | 3. 4% | 3. 4% | | 2018年 | 301关税增加7.5%(共10.9%) | 301关税增加7.5%(共10.9%) | | 2024年9月 | 301关税增至25%(共28.4%) | 1 | | 2025年2月 | 对中国商品额外关税增加10% (共38.4%) ...