重要提示：本材料不构成淡水泉任何形式的要约、承诺或其他法律文件，亦非任何投资、法律或财务等方面的专业建议。过往业绩 不预示未来表现。投资须谨慎。 2025年过半，中国下半年的经济和股票市场走势是近期外资投行机构关注的一个话题。相较于年初观 点，展望下半年，外资报告中似乎更多提及了海外投资人对中国市场的情绪回暖以及中国市场的配置价 值，国内经济回升态势、中美关系等依然是他们持续关注的话题。 海外投资人也认同中国市场的投资价值正在逐步改善，他们普遍对AI、科技相关主题以及新消费主题 感兴趣。 一些海外投资人坦言，2021-2022年以来，他们减少了跟踪和研究中国市场的时间，导致他们 对中国科技和智能制造等领域的新突破，以及诸多新兴消费品牌的认知有限。市场上甚至不乏"错失中 国技术发展机遇"的担忧。以往一些观点认为，中国在全球科技竞争新时代将落后于美国，因为美国制 定了先进芯片和AI技术等领域针对中国的出口管制，导致中国企业在美国和其他许多市场受到限制。 然而，以DeepSeek等为代表的AI突破，以及中国在电动汽车、电池、人形机器人等方面取得的进展， 正促使投资者重新思考，在"两种体制之间二选一"是否合理，同时投 ...

11 June 2025 Global Energy Storage Global Energy Storage: Is LMR the LFP killer? Neil Beveridge, Ph.D. +852 2123 2648 neil.beveridge@bernsteinsg.com Brian Ho, CFA +852 2123 2615 brian.ho@bernsteinsg.com Hengliang Zhang +852 2123 2629 hengliang.zhang@bernsteinsg.com Lithium-Manganese-Rich (LMR) battery technology is being touted as having the potential to disrupt the LFP market. Over the past 5 years, Chinese companies have disrupted the NMC market, with LFP which has gained huge popularity, particularly in ...

每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ①创新药+机器人+AI智能体+脑机接口！这家公司参与设立新产品战略相关基金主要投资于创新药等领 域；②固态电池+可控核聚变+算力+机器人+体育产业+国企改革！这家公司固体氧化物电池研发项目在研 发攻关过程中；③固态电池+机器人！这家公司与小米下属公司战略合作研发机器人电子皮肤。 前言 ...

成宜装备制造产业园。 宜宾三江新区东部产业园能源港。 凯翼汽车生产车间。 在位于宜宾三江新区的宜宾人力资源 服务产业园，求职者正在寻找工作。 □大川 培哲 周阳 晓梅/文 罗顺/图 5月的宜宾，热浪翻滚，23日晚举行的在宜高校大学生才艺展演更为这座城市增添了几分热度。 这样的闹热，在过去3年里"定时"抵达。这里坐落着宜宾大学城，超10万名大学生聚集，带来旺盛 人气和蓬勃活力。 不只大学生。放眼望去，长江边上，拔地而起的人才公寓向全球英才敞开怀抱；龙头山下，诚意 满满的"新市民计划"为高层次人才铺就安居之路。 城聚人，人兴产。动力电池工厂车间里，机械臂上下挥舞；欧阳明高院士工作站里，固态电池研 发正加速推进。 在宜宾，岷江、金沙江汇流，长江由此一路奔腾汇入大海；在这里，省级新区生根发芽，探索区 域中心城市发展的全新路径。 这里是宜宾三江新区——四川首个省级新区。这片热流涌动的新城，以"人产城"融合发展之笔， 书写着新时代长江经济带高质量发展的生动脚本。 新城市 民生为本 筑就幸福城 6月，三江新区长江北岸，宜宾滨江C组团商业项目建设现场，多个大型塔吊快速运转，工程车来 来往往，一片忙碌景象。一座层次分明、造型优 ...

36氪获悉，小米集团董事长雷军在小米15周年战略新品发布会上宣布，小米YU 7正式发布，定位 "豪华 高性能SUV"。 长安汽车：未来3年将推出35款数智新汽车，2026年实现固态电池装车验证 36氪获悉，长安汽车在投资者关系活动记录表中称，未来3年，公司将推出35款数智新汽车。其中，长 安启源将推出10款产品，深蓝汽车将推出10款产品，阿维塔将推出7款产品。在三电领域，公司将全面 迭代三电核心技术，2025-2026年完成时代长安50GWh电芯产能投资建设，总计产能达到75GWh。2026 年实现固态电池装车验证，2027年推进全固态电池逐步量产，能量密度达400Wh/kg。 天铁科技：与欣界能源签署战略合作框架协议，拟在固态电池锂金属负极材料及相关领域开展合作 36氪获悉，天铁科技公告，公司与深圳欣界能源科技有限公司签署战略合作框架协议，双方将在固态电 池锂金属负极材料供应、研发、生产等方面全方位开展战略合作。根据协议，天铁科技将向欣界能源提 供电池级锂金属产品，并在欣界能源首条≥450Wh/kg固态2GWh量产线投产后，负责该条产线的金属锂 材料供应，原则上年采购量不低于100吨，期限不少于5年。双方还 ...

市场全天震荡调整， 创业板指领跌，北证50指数跌超6%。沪深两市全天成交额1.1万亿，较上个交易日 缩量708亿。盘面上，市场热点较为杂乱，个股跌多涨少，全市场超4400只个股下跌。从板块来看，银 行股逆势走强， 浦发银行等多股盘中再创历史新高。军工股一度 拉升， 银河电子等涨停。下跌方面， 新消费概念股集体大跌， 可靠股份跌超10%；固态 电池概念股震荡走低， 宏工科技跌超10%。板块方 面，银行、游戏、军工 电子、 保险等板块涨幅居前， 美容护理、 代糖概念、 固态电池、 宠物经济等 板块跌幅居前。截至收盘， 沪指跌0.22%， 深成指跌0.72%，创业板指跌0.96%。 ...

Group 1: Investor Relations Activity Overview - The company held an annual performance briefing on May 14, 2025, via online platform [3] - Attendees included the chairman, general manager, financial director, board secretary, and sponsor representative [3] Group 2: Key Questions and Responses - **New Capacity Projects**: The new capacity project is progressing well and is expected to commence production in the second half of 2025. Current lithium battery capacity remains tight, with a focus on lithium manganese and lithium iron batteries for future development [4] - **Stock Price and Dividends**: The company's stock price is influenced by macro policies and market conditions. The company emphasizes investor returns and will continue to consider cash dividends based on profitability and future plans [5] - **Employee Changes**: The company experienced a significant increase in employee numbers due to rising sales orders, which is a normal hiring demand without risks of technology leakage [5] - **Lithium Carbonate Prices**: The decline in lithium carbonate prices does not directly correlate with lithium metal prices, which are influenced by market supply and demand. The company typically procures raw materials 2-3 months in advance and is not currently hedging in the secondary market [6][7] - **Gross Margin Decline**: The gross margin in Q1 2025 decreased due to changes in export tax rebate policies [8]

09:30 深成指涨幅扩大至1% 10:12 创业板指涨幅扩大至2% 军工股爆发 创业板指涨幅扩大至2%，沪指涨0.77%，深成指涨1.31%。 军工股爆发 ，机器人、6G概念等板块 涨幅居前，两市上涨个股超3600只。 09:35 固态电池概念股活跃 万向钱潮3连板 万向钱潮3连板，龙蟠科技、冠盛股份等涨停，山东章鼓涨超9%，曼恩斯特、厦钨新能、容百科技 等跟涨。消息面上，5月13日，贝特瑞新品发布会将有固态电池新品；5月16-17日，国轩高科发布 高安全固态电池新品。 09:34 创新药概念盘初走低 百济神州跌超8% 创新药概念盘初走低，迈威生物跌超10%，百济神州、信立泰跌超8%，益方生物、舒泰神、热景生 物、百利天恒、诺诚健华等跌幅靠前。 09:51 军工板块持续拉升 航天南湖等多股涨停 航天南湖、华如科技20%涨停，中超控股、苏州龙杰、天箭科技、成飞集成、贵航股份等涨停。 09:25 A股开盘｜三大指数集体高开 创业板指涨超1.5% 沪指高开0.33%，深成指高开0.92%，创业板指高开1.55%，纺织制造、消费电子、固态电池、机器 人板块开盘活跃；贵金属、军工等板块走低。 ...

Core Insights - Ultralife Corporation reported a strong first quarter for 2025, with a 21% year-over-year revenue increase driven by robust growth in Battery & Energy Products, particularly in government/defense sales, and the contribution from the Electrochem acquisition [1][2] - The company is focused on improving gross margins and has successfully reduced inventory by 7%, which has freed up cash for strategic investments [1] - Ultralife is actively implementing a tariff mitigation plan to manage operational impacts from tariffs across its supply chains [1] Financial Performance - Revenue for the first quarter of 2025 was $50.7 million, an increase of $8.8 million or 21% compared to $41.9 million in the same quarter of 2024 [2][6] - Battery & Energy Products sales increased by 32.4% to $46.3 million, while Communications Systems sales decreased by 36.2% to $4.4 million [2][6] - Gross profit was $12.7 million, representing 25.1% of revenue, compared to $11.5 million or 27.4% of revenue in the prior year [3][6] Operating Metrics - Operating expenses rose to $9.3 million from $7.4 million in the previous year, reflecting the inclusion of Electrochem and increased costs for new product development [4][6] - Operating income decreased to $3.4 million, with an operating margin of 6.7%, down from 9.7% in the prior year [5][6] - Net income attributable to Ultralife Corporation was $1.9 million or $0.11 per diluted share, compared to $2.9 million or $0.18 per diluted share in the first quarter of 2024 [7][6] Backlog and Future Outlook - The total backlog and high-confidence orders at the end of the first quarter stood at $95.0 million, down from $102.2 million at the end of the fourth quarter of 2024, indicating a strong replenishment rate [2][6] - The company is confident in its ability to sustain profitable growth and generate incremental cash flow to reduce acquisition-related debt while continuing to invest in strategic product development [1]

Energizer Holdings, Inc. (ENR) reported second-quarter fiscal 2025 results, wherein both net sales and earnings lagged the Zacks Consensus Estimate. Also, the top and bottom lines decreased year over year.The company reported modest growth in its battery segment but faced declines in Auto Care due to shipment timing shifts. Energizer introduced its new Podium Series, which saw widespread distribution across numerous stores. Gross margins improved, aided by cost-saving initiatives, while strategic refinancin ...