Group 1 - The core viewpoint of the article highlights the collaboration between Changzhi High-tech Zone Management Committee and Zhengkunyuan (Beijing) Technology Co., Ltd. to establish a project for the annual production of 20,000 tons of fourth-generation lithium iron manganese phosphate [2] - The total investment for the project is 300 million yuan, located in the Zhangze Industrial Park of Changzhi High-tech Zone, with plans to build a smart production line for the annual output of 20,000 tons of fourth-generation lithium iron manganese phosphate cathode materials [2] - The project will be constructed in two phases, with the first phase having a total investment of 80 million yuan and utilizing a standardized factory area of 5,000 square meters. Once fully operational, the project is expected to generate an annual output value of approximately 1 billion yuan [2] Group 2 - JinkoSolar collaborates with EVE Energy to jointly develop battery cells [4] - The first industry forum on household storage and portable energy storage battery technology is scheduled for September 26 in Shenzhen [4] - The first International Summit and Exhibition on Sulfide All-Solid-State Batteries is set for November 8 in Guangzhou [4]

Investment Rating - The industry investment rating is "Overweight" [1][49]. Core Insights - The report highlights structural opportunities in the solid-state battery sector, indicating ongoing industrialization and the potential for material and equipment upgrades within the supply chain [1][43]. - The lithium battery index has shown a decline of 6.59% over the past two weeks, underperforming the CSI 300 index by 5.77 percentage points [3][12]. - The report suggests focusing on leading companies in the battery and materials sectors that are expected to improve fundamentals, particularly those with technological and production advantages in solid-state electrolytes and new electrode materials [43][45]. Summary by Sections Market Review - As of August 7, 2025, the lithium battery index has decreased by 6.59% in the last two weeks and by 0.06% month-to-date, while it has increased by 4.55% year-to-date [3][12]. - The report notes that the lithium carbonate price is 71,200 CNY/ton, up 0.92% in the last two weeks, while lithium hydroxide is priced at 69,300 CNY/ton, up 2.36% [5][24]. Price Changes in the Lithium Battery Supply Chain - The report details price changes across various components, with lithium carbonate and lithium hydroxide prices increasing, while other materials like phosphoric iron lithium and negative electrode materials remained stable [22][30]. - The average price of lithium hexafluorophosphate is 50,300 CNY/ton, reflecting a 1.62% increase in the last two weeks [30][34]. Industry News - The report includes significant industry developments, such as the announcement of new electric vehicle models and advancements in solid-state battery technology by various companies [40][41]. - It mentions that the penetration rate of new energy vehicles in the retail market reached 54.7% in July, with a year-on-year growth of 14% [40][43]. Company Announcements - Notable company performance includes CATL achieving a revenue of 178.886 billion CNY in the first half of 2025, a year-on-year increase of 7.27% [42][45]. - Other companies like Keda Li and Enjie have also reported positive earnings forecasts, indicating growth in their respective sectors [45]. Recommended Stocks - Key stocks to watch include CATL (300750), Keda Li (002850), Enjie (002812), Tian Nai Technology (688116), and Naconor (832522), all of which are positioned to benefit from the anticipated growth in the solid-state battery market [43][45].

Industry Highlights - China's salt lake lithium carbonate project has officially launched sales, with an annual production capacity of 20,000 tons and first batch purity exceeding 99.6% [1] - Jiangsu Nona New Materials is set to begin trial production of a 200,000-ton electrolyte project in October, with an investment of approximately 1.8 billion yuan [2] - SK On is undergoing restructuring, merging with SK Enmove to enhance competitiveness in the electric vehicle battery sector, with the new entity expected to be established by November 2025 [3] - German silicon-based anode company NorcSi has completed a financing round of 10.7 million euros to commence industrial production of pure silicon anode materials [4] Lithium Battery Material Market Lithium Carbonate - Domestic lithium carbonate prices are fluctuating around 68,000 yuan per ton, with market speculation about a potential 30-day shutdown of a lithium mine in Jiangxi [7] - Latest prices for lithium carbonate as of August 7: Battery-grade 99.5%: 71,000-73,000 yuan/ton; Industrial-grade 99.2%: 68,500-69,500 yuan/ton [8] Ternary Materials - Ternary material prices have seen a slight increase, with a projected 1,000 tons of additional supply from two major suppliers [9] - Current prices for ternary materials as of August 7: 5-series single crystal: 123,000-129,000 yuan/ton; 8-series 811 type: 142,000-148,000 yuan/ton [9] Lithium Iron Phosphate - The lithium iron phosphate market remains stable, with an expected production capacity of 300,000 tons by the end of the year, including a significant expansion by Bangpu [10] - Latest prices for lithium iron phosphate as of August 7: Power type: 32,100-33,200 yuan/ton; Energy storage type: 30,800-31,500 yuan/ton [10] Anode Materials - The anode materials market is stable, with prices closely aligned with production costs, and limited new orders for needle coke [11] - Latest prices for anode materials as of August 7: Natural graphite high-end products: 50,000-65,000 yuan/ton; Artificial graphite high-end: 31,800-64,800 yuan/ton [12] Separator - The separator market is stable, with a decline in orders from energy storage sectors due to reduced procurement from two major companies [13] - Latest prices for separators as of August 7: Base film 9μm/wet: 0.55-0.825 yuan/sqm; Base film 16μm/dry: 0.35-0.5 yuan/sqm [13] Electrolyte - The electrolyte market shows stable prices, with a slight increase in orders from energy storage applications [14] - Latest prices for electrolytes as of August 7: Lithium hexafluorophosphate electrolyte: 49,000-51,500 yuan/ton; Power ternary electrolyte: 19,000-23,400 yuan/ton [14] Lithium Battery Demand Battery Production - The domestic battery market is stable, with a slight increase in production driven by export preparations [15] - Latest prices for lithium batteries as of August 7: Square ternary power cell: 0.38-0.45 yuan/Wh; Square lithium iron phosphate power cell: 0.26-0.355 yuan/Wh [16] New Energy Vehicles - Passenger car sales reached 462,000 units, with new energy vehicle sales at 245,000 units, showing a year-on-year increase [16] - Notable developments include BYD's fifth-generation DM upgrade and Tesla's declining sales in Europe [16] Energy Storage - The energy storage battery market is performing well, with leading companies operating at full capacity and small manufacturers taking on contract orders [17] - Increased demand for energy storage orders is noted in Europe and Australia, while the U.S. market remains stable despite tariff disruptions [18]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The fundamentals of lithium carbonate are relatively loose with profit recovery and increased production, but there is still uncertainty in supply - side fluctuations. It is expected that the short - term price of lithium carbonate will fluctuate widely. Investors are advised to wait and see and not chase high prices (View Score: 0) [1]. 3. Summary by Relevant Catalogs 3.1 Lithium Carbonate Futures - **Prices**: On August 7, 2025, the closing prices of near - month, consecutive - one, consecutive - two, and consecutive - three contracts were 70,000 yuan/ton, 71,920 yuan/ton, 72,300 yuan/ton, and 72,300 yuan/ton respectively, showing an increase compared to the previous day. The closing price of the active contract was 72,300 yuan/ton, up 2,680 yuan/ton from the previous day [1]. - **Trading Volume and Open Interest**: The trading volume of the active contract was 766,669 lots (+341,310), and the open interest was 289,832 lots (+32,062) [1]. - **Inventory**: The inventory was 16,443 tons, an increase of 1,420 tons from the previous day. The registered warehouse receipts were 16,443 tons (+1,420) [1]. - **Spreads and Basis**: The spread between near - month and consecutive - one contracts was - 1,920 yuan/ton, a decrease of 1,520 yuan/ton from the previous day. The basis (SMM battery - grade lithium carbonate dry average price - lithium carbonate active contract closing price) changed from a premium to a discount, decreasing by 2,530 yuan/ton [1]. 3.2 Lithium Ore and Lithium - Related Product Prices - **Lithium Ore**: The average price of lithium spodumene concentrate (6%, CIF China) was 757 US dollars/ton, up 9 US dollars/ton from the previous day. The prices of various types of lithium mica also increased [1]. - **Lithium - Related Products**: The average prices of battery - grade and industrial - grade lithium carbonate increased by 150 yuan/ton. The average price of some lithium - related products such as ternary precursors, ternary materials, and phosphoric acid lithium iron also showed an upward trend [1]. 3.3 Cobalt Spot Prices - The average price of electrolytic cobalt remained unchanged at 266,500 yuan/ton. The average prices of cobalt sulfate and tricobalt tetroxide increased by 100 yuan/ton and 650 yuan/ton respectively [1]. 3.4 SMM Lithium Carbonate Inventory - The total SMM lithium carbonate inventory was 142,418 tons on August 7, 2025, an increase of 692 tons compared to the previous week. Among them, the inventory of downstream increased by 2,271 tons, while the inventory of smelters and others decreased [1]. 3.5 Market News and Demand - Supply Situation - **Market News**: In July, China's imports and exports were 3.91 trillion yuan, a year - on - year increase of 6.7%. Exports were 2.31 trillion yuan, up 8%, and imports were 1.6 trillion yuan, up 4.8% [1]. - **Supply - Demand**: Last week, the production of lithium carbonate increased. The production of phosphoric acid lithium iron and ternary materials increased, while the production plan of lithium cobalt oxide decreased and that of lithium manganate increased in August. The production of power batteries decreased last week. In July, the year - on - year growth rate of new energy vehicle production and sales continued, but the sales volume decreased month - on - month, and the 3C shipments were average. The production plan of energy - storage batteries increased in August [1].

Investment Events - Xinjie Energy has completed a series A financing of several hundred million yuan, focusing on solid-state lithium metal battery development and production, with funds allocated for production line expansion and technology iteration [2] - Lingxin Qiaoshou announced the completion of a series A financing of several hundred million yuan, led by Ant Group, aimed at enhancing technology reserves and accelerating the application of embodied intelligence [3] - Huzhou Pharmaceutical has completed a series A financing of several tens of millions of dollars to advance its pipeline development in targeted radioligand therapy [4] - Zhi Nuo Technology successfully completed a Pre-A round financing of several tens of millions of yuan, focusing on biosynthetic high-value natural metabolites [5] - Dewo Intelligent has secured series A financing, with investments from Jinqiao Fund and Puxin Fund, focusing on IoT solutions and digital technology services [8] - Wuke Jingsi has completed a new round of financing led by Yumei Fund, focusing on silicon-based anode materials for lithium batteries [9] - Jiangxin New Materials received strategic investment from Evergrande Green Energy, focusing on silicon-carbon anode materials [10] - Yinnuo Pharmaceutical received $10 million in investment for its diabetes treatment product, with cornerstone investors participating in the share subscription [11] - Artificial Productivity completed seed round financing of several million dollars, focusing on AI and hardware integration [12] - Chuangzuo Shuzhi completed a new round of financing, focusing on smart charging management systems [13] - Weita Power completed angel round financing, focusing on innovative robotic products [14] - Newray Photomask received 50 million yuan in A+ round investment, focusing on advanced semiconductor photomask manufacturing [15] IPO Events - Dongyangguang Pharmaceutical has officially listed on the Hong Kong Stock Exchange, focusing on the development and commercialization of small molecule innovative drugs and biological innovative drugs [6][7]

证券代码：301152 证券简称：天力锂能 公告编号：2025-065 天力锂能集团股份有限公司 关于取得发明专利证书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 登录新浪财经APP 搜索【信披】查看更多考评等级 上述发明专利为公司自主研发，属于锂离子电池电极材料技术领域。该项技术能显著提升三元正极材料 的循环稳定性，具有工业化生产应用前景。 该专利证书的取得虽不会对公司近期生产经营产生重大影响，但有利于公司进一步完善知识产权保护体 系，促进公司持续创新能力，提升公司核心竞争力。 二、备查文件 1、发明专利证书。 特此公告。 天力锂能集团股份有限公司董事会 2025年8月7日 一、基本情况 天力锂能集团股份有限公司（以下简称"天力锂能"或"公司"）近日获得了国家知识产权局颁发的发明专 利证书。具体情况如下： ■ ...

证券日报网讯 8月7日晚间，天力锂能发布公告称，公司近日获得国家知识产权局颁发的发明专利证 书，专利名称为"一种改性的三元正极材料及其制备方法"。该专利证书的取得虽不会对公司近期生产经 营产生重大影响，但有利于公司进一步完善知识产权保护体系，促进公司持续创新能力，提升公司核心 竞争力。 （文章来源：证券日报） ...

Economic News - The Ministry of Industry and Information Technology and six other departments have issued guidelines to promote the innovation and development of the brain-computer interface industry, including the development of high-precision surgical robots for implantation [1] - As of the end of July 2025, China's foreign exchange reserves stood at $329.22 billion, a decrease of $25.2 billion from the end of June, reflecting fluctuations in global financial asset prices and exchange rates [1] - In the first seven months of 2025, private enterprises in China saw a year-on-year increase of 7.4% in imports and exports, marking the highest growth rate of the year [1] - The Ministry of Transport aims to complete the construction of 300,000 kilometers of new and renovated rural roads by 2027, enhancing rural transportation services [1] - In July, retail sales of passenger cars in China reached 1.834 million units, a year-on-year increase of 7% [1] - Major commodity import prices, including iron ore and crude oil, have declined in the first seven months of 2025 [1] Company Insights - China Mobile reported a revenue of RMB 543.8 billion for the first half of the year, with a 0.7% year-on-year increase in communication service revenue [5] - Hua Hong Semiconductor's Q2 2025 sales revenue reached $566 million, an 18.3% year-on-year increase, with a projected revenue of $620 million to $640 million for Q3 2025 [5] - Focus Media plans to acquire 100% of New潮传媒 for a total price of RMB 8.3 billion, which will enhance its market share [5] - Weichai Heavy Machinery intends to purchase 100% of Changbo Company for RMB 492 million, integrating it into its financial statements [5] - Shanghai Pudong Development Bank reported a 2.62% year-on-year increase in revenue for the first half of 2025, with a net profit growth of 10.19% [5] Industry Analysis - Tongwei Co., Ltd. is positioned as a leader in the silicon material and battery cell sectors, with a production capacity of over 90,000 tons of high-purity silicon and over 150 GW of solar cells [6][7] - The company has benefited from government policies aimed at reducing excessive competition in the solar industry, leading to increased prices for silicon materials and wafers [6] - The company has achieved a 20.76% year-on-year increase in high-purity silicon sales volume, capturing approximately 30% of the national market share [7] - The company has a comprehensive technology layout covering various solar cell technologies, including TOPCon and HJT, with significant advancements in efficiency [8] - The company forecasts revenues of RMB 909.82 billion, RMB 1,062.57 billion, and RMB 1,168.35 billion for 2025-2027, with a projected net profit growth rate of 18.03% in 2025 [9] Additional Company Insights - Keda Li is a leading global manufacturer of precision structural components for lithium batteries, with a market share of 29% in 2024 [11][12] - The company is expanding its production capacity in response to the growing demand for lithium battery components, with a projected market size of approximately RMB 570 billion by 2025 [11] - Keda Li is also venturing into the humanoid robot sector, collaborating with Taiwanese companies to develop lightweight harmonic reducers [13] - The company anticipates revenue growth of RMB 148.40 billion, RMB 175.65 billion, and RMB 207.75 billion from 2025 to 2027, with a strong recommendation rating [14]

Group 1: Report Summary Investment Rating - Not provided in the report Core View - The current market shows a weak supply - demand balance. The supply - side capacity utilization is rising, while the demand - side experiences a seasonal decline in new energy vehicle sales but an enhanced long - term demand expectation from emerging applications. The rapid convergence of the basis indicates a narrowing of the spot - futures arbitrage space, and the continuous increase in open interest implies intensified divergence. The market is expected to remain in a low - level oscillation pattern in the next 1 - 2 weeks, with the core suppressing factors being the mainly rigid demand in the spot market and the expected resumption of mines in Jiangxi. However, the downside of the market may be supported by technical buying and long - term demand prospects [3] Summary by Section 1. Daily Market Summary - **Futures Market Data**: On August 6, 2025, the main contract of lithium carbonate rose by 1,780 yuan/ton to 69,620 yuan/ton. The basis weakened significantly, narrowing from 3,810 yuan/ton to 2,030 yuan/ton. The open interest of the main contract increased by 11.08% to 257,770 lots, reaching a recent high, with intense long - short competition. The trading volume decreased slightly by 2.71% to 425,359 lots, and market activity cooled slightly [1][5] - **Supply - Demand and Inventory**: The weekly capacity utilization of lithium carbonate increased by 1.72 percentage points to 63.92%, driven by the increased production of the salt lake lithium extraction process. The prices of spodumene and lepidolite concentrates remained stable. In the long - term, a 1.35 - billion - yuan solid - state battery project in Sichuan's Ganmei Industrial Park passed the environmental assessment in late July, which may force traditional lithium salt enterprises to upgrade their technologies. Downstream demand was divided. In July, new energy vehicle retail sales decreased by 17% month - on - month to 789,000 units. The price of power - type lithium iron phosphate decreased by 0.18% month - on - month, and the price of lithium hexafluorophosphate decreased by 0.48%. Lithium carbonate inventory decreased by 1,444 tons to 141,726 tons, with continuous destocking for two weeks but at a slower pace [2][5] 2. Industrial Chain Price Monitoring - The prices of the main contract of lithium carbonate, basis, open interest, trading volume, battery - grade lithium carbonate, spodumene concentrate, lepidolite concentrate, lithium hexafluorophosphate, power - type ternary materials, and power - type lithium iron phosphate on August 6, 2025, and their changes compared with the previous day or previous period are presented in a table, along with the capacity utilization and inventory changes of lithium carbonate and the prices of some battery cells [5] 3. Industry Dynamics and Interpretation - **Spot Market Quotation**: On August 6, the SMM battery - grade lithium carbonate index price was 70,731 yuan/ton, down 257 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate was 70,950 yuan/ton, and that of industrial - grade lithium carbonate was 68,850 yuan/ton, both down 250 yuan/ton. In August, the procurement demand in the market showed a warming trend, but actual transactions were mainly rigid demand due to the strong basis in the spot market. Downstream enterprises remained cautious and did not show obvious inventory restocking behavior. Information on mines in Jiangxi has not been officially confirmed [6] - **Downstream Consumption**: According to the Passenger Car Association data on July 30, from July 1 - 27, the retail sales of new energy vehicles in the national passenger car market were 789,000 units, a 15% year - on - year increase but a 17% month - on - month decrease. The retail penetration rate of the new energy market was 54.6%, and the cumulative retail sales this year were 6.258 million units, a 31% year - on - year increase. The wholesale volume of new energy vehicles by national passenger car manufacturers was 816,000 units, a 17% year - on - year increase but a 20% month - on - month decrease. The wholesale penetration rate of new energy manufacturers was 54.2%, and the cumulative wholesale volume this year was 7.264 million units, a 35% year - on - year increase [7] - **Industry News**: In 2025, the humanoid robot market exploded, with a large number of capital inflows. On July 22, Hive Energy's chairman revealed that the company was promoting the R & D and mass production of solid - state batteries, planning to trial - produce the first - generation 140Ah semi - solid - state battery on its 2.3GWh semi - solid mass - production line in Q4 2025, which would be supplied to BMW MINI's next - generation models in 2027. Recently, a 1.35 - billion - yuan solid - state lithium battery project in Sichuan's Ganmei Industrial Park passed the environmental assessment [8][9] 4. Industrial Chain Data Charts - The report includes charts such as the main contract and basis of lithium carbonate futures, lithium concentrate prices, lithium hexafluorophosphate and electrolyte prices, ternary precursor prices, and battery cell prices, along with their data sources [10][14][16][18][20][23][26]

Group 1: Economic Overview - In Q2 2025, China's economy exhibits a dual characteristic of structural adjustment and growth resilience amid complex internal and external environments [1] - The global trade environment is undergoing significant changes, with the escalation of the US-China tariff war being a major external variable affecting China's economy [2][3] Group 2: Tariff Impact - Since late 2024, US tariffs on China have increased from an initial 20% to a peak, affecting a wide range of products including steel, aluminum, and high-tech items [2] - Despite some tariff reductions following negotiations, the overall tariff levels remain high, creating uncertainty in trade [2] - China's export growth to the US has shown volatility, while exports to ASEAN, Latin America, and Africa have increased, with ASEAN's share nearing 30% in Q2 2025, up approximately 8 percentage points since 2018 [2] Group 3: Domestic Policy Adjustments - Since September 2024, domestic policies have shifted towards a "three arrows" approach focusing on structural rebalancing, fiscal support, and monetary coordination [4] - A significant local government debt replacement plan of 10 trillion yuan has been initiated to alleviate fiscal pressures, alongside an increase in the budget deficit rate to 4% for 2025 [4] - Consumption support measures are expected to reach 40-60 billion yuan in 2025, aimed at boosting market confidence [4] Group 4: Economic Structure Transformation - The economic structure is transitioning from investment-driven growth to innovation and consumption-led growth, with a focus on high-tech sectors such as AI and renewable energy [6] - The government has established a 60 billion yuan AI industry fund, with local governments also creating funds to support advanced manufacturing [6] - Retail sales are recovering, with service consumption growing faster than goods consumption, and online retail penetration nearing 28% of total retail sales [6] Group 5: Real Estate Market Dynamics - The real estate market is undergoing a deep adjustment, with investment growth slowing but market structure improving, focusing on affordable housing and urban renewal [7] - Long-term, the role of real estate in economic growth is expected to diminish as urbanization matures and demographic changes occur [7] Group 6: Long-term Trends and Challenges - China's economy is transitioning from high-speed growth to high-quality development, facing challenges such as aging population and labor supply changes [8] - Debt levels among local governments and enterprises remain a concern, but domestic ownership of debt and high savings rates provide a buffer [8] - The US-China relationship and global supply chain adjustments will continue to influence economic operations, with opportunities arising from cooperation in areas like renewable energy [8]