摘要 矿端价值先于锂盐修复。 赣锋锂业与天齐锂业本周发布 2025年度业绩预告，均由2024年大额亏损转为盈利。 两份预告的共同点是：全年利润的主要增量集中在第四季度，且与上游资源权益及相关投资收益的改善密切相关。 也就是说，锂价回升的早期收益更快落在矿端资产与权益投资上，而非均匀地传导至锂盐加工环节。 赣锋预计 2025年归母净利润11亿元至16.5亿元，较上年同期亏损20.74亿元实现扭亏。 结合其三季报披露的年初至三季度末归母净利润约 2552万元，意味着公司第四季度隐含贡献约10.74亿元至16.24亿元，几乎单季决定全年结果。 天齐预计 2025年归母净利润3.69亿元至5.53亿元，上年同期亏损79.05亿元。 公司三季报显示 2025年前三季度归母净利润约1.80亿元，据此推算第四季度隐含归母净利润约1.89亿元至3.73亿元，同样承担了全年利润修复的 大头。 赣锋在预告中将利润反转的关键归因于金融资产与投资收益的变化。公司称，所持 PilbaraMinerals（皮尔巴拉锂矿）股票价格上升带来公允价值变 动收益， 在领式期权对冲后，整体公允价值变动收益约 10.3亿元；同时处置储能相关子公司部 ...

Group 1: Precious Metals Market - International gold and silver prices experienced a sharp decline, with spot gold dropping by 7.95% to $4949.62 per ounce and spot silver falling by 16.93% to $95.86 per ounce, hitting a low of $95 [1] - The market volatility was attributed to speculation and a sudden sell-off, with gold prices plummeting by $380 in just 28 minutes, a nearly 7% drop, while silver prices fell by 11% in the same timeframe [3] - The World Gold Council reported that the demand for gold in 2025 is expected to solidify its position among central banks, investors, and consumers, with structural adjustments impacting the market until early 2026 [3] Group 2: Lithium Mining Sector - The lithium mining sector faced a significant drop, but companies like Ganfeng Lithium and Yahua Group reported that their operations are normal and products are in high demand [2] - Battery-grade lithium carbonate prices have surged from approximately 70,000 yuan per ton to around 170,000 yuan per ton since the second half of 2025, indicating a recovery that may benefit companies with their own mines and salt lakes [2] Group 3: Private Equity and IPOs - In January, private equity firms participated in new stock placements, with a total allocation amounting to 338 million yuan across five companies, highlighting the continued interest in private equity investments [4] - The China Securities Regulatory Commission approved the IPO registration of Beijing Weitongli Electric Co., indicating ongoing activity in the public market [7] Group 4: Renewable Energy and Hydrogen Production - By the end of 2025, China's renewable energy hydrogen production capacity is expected to exceed 250,000 tons per year, marking a significant increase compared to the previous year [6] Group 5: Chicken Market - The white feather chicken market has shown signs of recovery, with prices for large wings nearing 50 yuan per kilogram, reflecting a more than 20% increase from the low point in October 2025 [6] Group 6: Pharmaceutical Developments - Kangzheng Pharmaceutical received approval for the first targeted drug for treating vitiligo in China, indicating advancements in the pharmaceutical sector [5] Group 7: Financial Performance Forecasts - Companies such as CICC and Huazi Industrial are projecting significant profit increases for 2025, with CICC expecting a net profit increase of 50% to 85% and Huazi Industrial forecasting a growth of 128% to 167% [16][18]

天齐锂业公告，经过初步调试，泰利森第三期化学级锂精矿扩产项目于2026年1月30日生产出首批符合 标准的化学级锂精矿产品。后续，项目将加紧进行产能爬坡，争取按计划完成项目达产后续工作。同 时，公司将持续调试和优化该项目，以实现产品的连续稳定生产。该项目的完成为公司国内外各锂化工 产品生产基地提供持续且充足的原料保障，有助于实现公司产能与资源的高效匹配，增强产业链上下游 的协同效应，有望进一步提高公司的盈利能力。 ...

每经AI快讯，1月30日，天齐锂业(002466.SZ)公告称，经过初步调试，泰利森第三期化学级锂精矿扩产 项目于2026年1月30日生产出首批符合标准的化学级锂精矿产品。后续，项目将加紧进行产能爬坡，争 取按计划完成项目达产后续工作。同时，公司将持续调试和优化该项目，以实现产品的连续稳定生产。 该项目的完成为公司国内外各锂化工产品生产基地提供持续且充足的原料保障，有助于实现公司产能与 资源的高效匹配，增强产业链上下游的协同效应，有望进一步提高公司的盈利能力。 ...

南财智讯1月30日电，天华新能发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 3.65亿元—4.35亿元，同比预减47.83%—56.23%；预计2025年全年归属于上市公司股东的扣除非经常性 损益的净利润为1.50亿元—1.80亿元，同比预减59.17%—65.97%。报告期内，业绩变化主要原因是受行 业供给端结构性失衡影响，公司主要产品氢氧化锂平均售价较上年同期有所下跌。 ...

（文章来源：中国证券报·中证金牛座） 其中，一家不愿具名的企业负责人对记者表示："公司产品供不应求，产销正常，现在没有什么库存。" 上海钢联数据显示，2025年下半年以来，电池级碳酸锂价格持续上涨，从7万元/吨左右一度涨至17万 元/吨左右。 业内人士表示，碳酸锂价格的回暖，有望带动拥有自有矿和盐湖的生产企业业绩修复。 1月30日，锂矿板块大跌，截至14:40，锂矿板块跌超6%，西部矿业、中矿资源、天齐锂业等跌超7%。 对此，赣锋锂业、雅化集团等多家锂矿企业回应中国证券报·中证金牛座记者称，公司生产经营一切正 常。 ...

江特电机公告，预计2025年度归属于上市公司股东的净利润亏损3.1亿元-3.7亿元，上年同期亏损3.19亿 元。报告期内，公司核心锂矿茜坑尚未开采，公司锂矿石原材料主要为外购，采购价格与锂盐市场价格 紧密相关，由于受市场环境等因素影响，使得公司锂盐产品毛利下降，导致公司经营出现亏损。 ...

盘面上，部分教育股逆势上涨，中国春来涨超22%，新东方绩后涨5.5%；贵金属集体跳水，现货黄金下 破5200美元关口，黄金、铝、铜等有色金属板块大幅回调，赤峰黄金、山东黄金跌超14%，赣锋锂业跌 近11%；应用软件板块持续走低，金蝶国际跌7.7%，金山软件跌近4%；香港本地零售股普跌，周大福 跌6.7%。长和跌4.6%，巴拿马最高法院裁定港口合同违宪。 1月最后一个交易日，港股三大指数表现低迷，截至收盘，恒指跌2.08%报27387.11点，国指跌2.47%， 恒生科技指数跌2.1%。就全月表现来看，恒指累涨6.85%，一度站上28000点创逾四年新高，国指累涨 4.53%，恒生科技指数累涨3.67%。 ...

Market Overview - The Hang Seng Index closed at 27,387.11, down by 580.98 points or 2.08%, with a trading volume of 301.6 billion [1] - The Hang Seng Technology Index fell to 5,718.18, decreasing by 122.92 points or 2.10%, with a trading volume of 63.1 billion [1] - The Hang Seng Biotechnology Index dropped to 15,420.07, down by 371.54 points or 2.35%, with a trading volume of 15.3 billion [1] - The Hang Seng China Enterprises Index decreased to 9,317.09, down by 235.49 points or 2.47%, with a trading volume of 108.8 billion [1] - The Hang Seng Composite Index closed at 4,196.05, down by 89.51 points or 2.09%, with a trading volume of 212.5 billion [1] Sector Performance - Gold stocks experienced significant declines, with companies such as Chifeng Jilong Gold Mining and Shandong Gold falling over 14%, while Long Resources, Datang Gold, Zijin Mining International, and China National Gold all dropped more than 10% [1] - Lithium mining stocks also saw a downturn, with Ganfeng Lithium decreasing by nearly 11% and Tianqi Lithium falling over 10% [2]

1月30日，港股股指低开低走震荡下行，午后维持低位窄幅震荡，截止收盘，恒生指数跌2.08%报 27387.11点，恒生科技指数跌2.1%报5718.18点；本周恒指累涨6.85%；科指累涨3.67%；国企指数跌 2.47%报9317.09点，红筹指数跌2.27%报4368.45点。 盘面上，大型科技股集体走低，阿里巴巴跌2.37%，腾讯控股跌2.57%，京东集团跌1.92%，小米集团跌 3.06%，网易跌0.77%，美团跌1.42%，快手跌3.38%，哔哩哔哩跌1.37%。黄金股大跌，赤峰黄金跌超 14%，山东黄金跌超14%，中国黄金国际、紫金黄金国际跌超10%；锂矿概念下跌，赣锋锂业跌近 11%，天齐锂业跌超10%。石油股普遍下跌，中石油跌超1%；光伏太阳能股走弱，福莱特玻璃跌超 6%；教育、储存芯片概念逆势上扬，新东方全日收涨5.52%，中国春来收涨22.76%；宁德时代、天辰控 股涨超2%。 企业资讯 锅圈(02517.HK)：预计2025年收入约77.5亿元至78.5亿元，同比上升约19.8%至21.3%；净利润4.43亿元 至4.63亿元，同比上升约83.7%至92.0%。 恒瑞医药(01276.H ...