6月10日，宁德时代国内储能解决方案CTO林久标明确表示，宁德时代暂时无意于进一步"做大"电芯， 未来方向是在相同壳体的基础上对性能等方面持续优化升级。 ...

Group 1 - The core viewpoint of the news is that Haili Co., Ltd. has initiated its IPO counseling process and is addressing potential risks related to its leased properties [2][3] - Haili Co., Ltd. has conducted four phases of counseling for its IPO, with a focus on the risks associated with the expiration of rental contracts for its operational sites [2] - The actual controllers of Haili Co., Ltd. have committed to taking responsibility for any economic losses resulting from non-compliance issues that may lead to forced relocation of leased properties [3] Group 2 - Haili Co., Ltd. is a national high-tech enterprise specializing in the research, design, production, and sales of lithium-ion battery products, with applications in light vehicle battery swapping and energy storage [4] - In 2024, Haili Co., Ltd. achieved a revenue of 722 million yuan, representing a year-on-year growth of 2.16%, while the net profit attributable to shareholders decreased by 17.52% to approximately 65.73 million yuan [4][5] - The company's gross profit margin for the reporting period was 21.06%, and the basic earnings per share were 1.09 yuan [5]

会议预告 第十八届高工锂电产业峰会 ——产业链格局重整 全场景应用共振 主办单位： 高工锂电、高工产业研究院（GGII） 会议时间： 2025年6月25-26日 会议地点： 常州·金坛万豪酒店 2025高工新能源新材料产业大会 —— AI+新材料 引领能源变革 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 会议时间： 2025年7月8日-9日 会议地点： 中国成都邛崃 ◆ 电池 ◆ 01 国务院严令 锂电客户承诺"60天付款" 在国家部委就保障产业链供应链稳定、促进汽车产业高质量发展作出一系列部署的背景下，广汽集 团、中国一汽、东风汽车、赛力斯集团、比亚迪、长城汽车、小米汽车、小鹏汽车等车企宣布，自 6月10日起，将供应商的支付账期控制在60天以内，以保障供应链资金高效周转，助力产业链协 同发展。 02 宁德时代 587Ah储能电芯量产 6月10日，宁德时代正式宣布量产交付下一代大容量储能专用电芯——587Ah电芯，未来将在山东 济宁基地生产。作为目前储能行业内率先实现量产的500+Ah大容量电芯，宁德时代587Ah储能电 芯有望成为新一代储能系统的最优解。 ◆ 材料 ◆ 中 国盐湖 年产4万吨 ...

并且还有相关爆料称， 46105 电池和 120 度电池包将由蔚来和 Forseven 共同开发，但由于没有足够的生产基地，或将由由亿纬锂能或富 士康进行代工，并且今年蔚来还将与宁德时代共同开发其它款电池包，搭载于蔚来和乐道品牌旗下新车型。 技术方面，蔚来提出双化学体系电池涉及方案，其原理是利用急加速场景来激活高镍正极，实现瞬间的大规模放电，但在匀速行驶时，就切换 成磷酸锰铁锂电池使用，来保证电池包安全以及效率，仔细想来其实这种电池设计架构，适用于超跑类型汽车的行驶习惯，因为超跑需要短时 爆发出巨大能量的场景，该电池设计如果真的能投入使用，将会大大提升迈凯伦混动车型的续航以及提速。 同样蔚来也给出了该电池设计的热管理技术，将冷却液管道嵌入电极片，电池组在连续赛道驾驶中温差控制在 5 ℃以内。 换电站业务做的如火如荼，蔚来自己的电池产品也要跟上脚步了。 起点锂电获悉，蔚来即将把自己生产的动力电池供货给英国超跑品牌迈凯伦，搭载于迈凯伦混动车型上，引起业内热议。 供货的电池为蔚来自研 46 系大圆柱，蔚来电池团队始建于 2021 年，早期与宁德时代共同组建联合研发项目，并在 2023 年宣布加速生 产，推进大圆柱量 ...

Group 1 - Northvolt will cease battery cell production at its Skellefteå plant by the end of June 2025 due to ongoing bankruptcy proceedings, marking the end of domestic battery production in Sweden [1] - Following Northvolt's bankruptcy announcement on March 12, operations were significantly reduced, and the company relied on orders from Scania, which has now shifted to Chinese battery giant CATL, ending its collaboration with Northvolt [1] - Approximately 900 employees remain at the Skellefteå plant, but their jobs are at risk as production halts [1] Group 2 - The Northvolt battery plant project in Heide, Germany, remains unaffected by the situation in Sweden, with construction continuing under a separate German project company [2] - Northvolt Germany is considered legally independent, and the infrastructure work in Schleswig-Holstein is ongoing, with financing methods under review by the state parliament [2] - Northvolt filed for creditor protection in the U.S. in November 2024 and subsequently filed for bankruptcy in Sweden in March 2025 [2]

Core Viewpoint - EVE Energy plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance capital strength, competitiveness, and international brand image, supporting its global strategy [1] Group 1: Financing and Capital Structure - EVE Energy has conducted four rounds of private placements since its listing, raising a total of 14.6 billion yuan over 16 years, while cash dividends amounted to 3.144 billion yuan [1] - The company successfully raised 5 billion yuan through convertible bonds to fund significant battery projects, with a total funding requirement exceeding 13.5 billion yuan by the end of 2025 [2][3] - The asset-liability ratio has been around 60% since 2022, reaching 61.98% in Q1 of this year [3] Group 2: Business Performance - In the previous year, EVE Energy reported revenue of 48.615 billion yuan, a slight decrease of 0.35%, while net profit increased by 0.63% to 4.076 billion yuan [4] - The energy storage battery segment showed strong performance, holding the second-largest global market share, while the power battery segment lagged [4] - By 2024, approximately 24% of the company's revenue is expected to come from overseas markets [4] Group 3: Global Expansion Strategy - EVE Energy is implementing a "global manufacturing, global delivery, global cooperation" strategy, with investments nearing 17.4 billion yuan in overseas factories in Hungary, Malaysia, and the United States [4] - The Hungarian facility is progressing well, with ground engineering completed and production expected to start in 2026, enhancing supply capabilities in Europe [4] - The Malaysian factory aims to serve various markets and is set to begin production of cylindrical lithium batteries by December 2024 [4] Group 4: Market Context - The Hong Kong IPO market is currently active, with several A-share companies opting for secondary listings, including CATL, which raised 40.76 billion HKD, marking a record high for Hong Kong in over four years [5][6]

5月CPI通胀-0.1%，持平于前值，高于市场预期（-0.2%）；PPI通胀-3.3%，低于前值（-2.7%）与市场预期 （-3.2%）。 一、CPI通胀：能源拖累，核心支撑 5月CPI通胀同比-0.1%，环比为-0.2%。从分项看，能源通胀拖累增大，核心CPI通胀小幅上行形成支撑。 图1：能源对CPI通胀的拖累加大 资 料 来 源 ： M a c r o b o n d ， 招 商 银 行 研 究 院 食品价格温和下跌。 食品价格环比下跌0.2%，跌幅小于过去5年同期（1.4%），同比降幅走阔0.2pct至0.4%。 一方面，部分食品价格季节性转跌，上市量增加导致鲜菜价格环比下行5.9%，需求平淡使猪肉、蛋类、奶类 价格低位下行；另一方面，因供给受扰动、部分食品价格逆势上涨，包括鲜果价格因部分地区暴雨天气阻碍生 产运输而环比上涨3.3%，关税持续影响牛肉进口导致价格环比上涨1.3pct、同比接近回正（-0.1%）。 能源方 面， 国际油价下跌带动国内成品油价再度下调，叠加今年以来共下调4次的累计影响，交通工具用燃料价格环 比下跌3.7%，同比降幅扩大2.7pct至12.9%。 图2：食品价格温和下跌 资 料 ...

Summary of Key Points Core Viewpoint - The company, Hunan Keli Yuan New Energy Co., Ltd., is providing guarantees for its subsidiaries to support their financing needs, with a total guarantee amount of 12,000 million RMB for three subsidiaries [1][5]. Group 1: Guarantee Details - The company is providing a guarantee of 30 million RMB for Hunan Keba, 80 million RMB for Changde Liyuan, and 10 million RMB for Jinfeng Lithium [1]. - The total amount of guarantees provided by the company and its subsidiaries amounts to 397,856 million RMB, which represents 161.1% of the latest audited net assets [6]. - There are no overdue guarantees as of the announcement date, and the company has not provided guarantees for shareholders or related parties [6]. Group 2: Subsidiary Information - Hunan Keba, established on August 25, 2008, is a wholly-owned subsidiary of the company, focusing on automotive power battery materials and related manufacturing [2][3]. - Changde Liyuan, established on April 29, 2003, is a holding subsidiary with a focus on non-ferrous metal smelting and battery manufacturing [4][5]. - Jinfeng Lithium, established on December 6, 2021, is a joint venture with a focus on new energy technology and battery components [4][5]. Group 3: Financial Overview - As of April 30, 2025, the total assets of Hunan Keba are 266,792.74 million RMB, with total liabilities of 150,021.71 million RMB, resulting in net assets of 116,771.04 million RMB [4]. - Changde Liyuan reported total assets of 92,803.98 million RMB and net assets of 43,790.58 million RMB as of April 30, 2025 [4]. - Jinfeng Lithium's total assets are 209,255.77 million RMB, with net assets of 14,048.31 million RMB as of April 30, 2025 [5].

Market Overview - The Hong Kong stock market experienced a collective drop in the afternoon, with the Hang Seng Index closing down 0.08% at 24,162.87 points and a total turnover of HKD 250.34 billion [1] - The Hang Seng Tech Index fell by 0.76%, while the Hang Seng China Enterprises Index decreased by 0.15% [1] - CICC noted that despite the need for overall recovery in China, there are structural highlights in the macro and market environment, making Hong Kong stocks advantageous for stable returns and structural opportunities in new consumption, AI technology, and innovative pharmaceuticals [1] Blue Chip Performance - China Hongqiao (01378) led blue-chip stocks with a rise of 4.83% to HKD 15.2, contributing 3.15 points to the Hang Seng Index [2] - BYD (01211) increased by 3.71%, contributing 28.49 points, while Hansoh Pharmaceutical (03692) rose by 3.59% [2] - Li Auto (02015) fell by 2.75%, dragging down the index by 7.25 points, and Galaxy Entertainment (00027) dropped by 2.22%, contributing a decline of 2.57 points [2] Sector Highlights Innovative Pharmaceuticals - The innovative drug sector continued its upward trend, with notable gains from companies like Crystal Pharma (02228) up 16.7% and Lepu Biopharma (02157) up 11.5% [3] - The State Council issued opinions to improve the basic medical insurance drug catalog, which is expected to enhance the demand for innovative drugs [3] - Analysts believe that the biotech sector's valuation recovery is largely complete, with strong market liquidity and robust corporate earnings expected to drive continued interest [3] Aviation Stocks - Major Chinese airlines saw positive performance, with China Eastern Airlines (00670) up 4.08% and China Southern Airlines (01055) up 3.39% [4] - Citigroup maintained a "buy" rating on the three major Chinese airlines, citing a more balanced supply-demand outlook and stable domestic ticket prices [4] - Target prices for China Southern Airlines and China Eastern Airlines were adjusted upward, reflecting positive market sentiment [4] Shipping Sector - The shipping sector benefited from increased trade demand, with Shanghai's export container settlement price index rising by 29.5% [5] - Analysts noted that ongoing tariff uncertainties and economic expectations will influence the sustainability of shipping demand in the coming years [5] Gaming Sector - The gaming sector showed mixed results, with some stocks like Galaxy Entertainment declining while others like SJM Holdings (00880) rose by 6.25% [6] - The Macau government announced the end of operations for several satellite venues by the end of the year, impacting revenue expectations for certain companies [6] Notable Stocks - Dekang Agriculture (02419) reached a new high, closing up 8.3% with significant sales figures reported [7] - New City Development (01030) surged by 7.18% amid news of a planned USD bond issuance [8] - Longpan Technology (02465) rose by 6.47% as interest in solid-state batteries continues to grow [9] New Listings - Rongda Technology (09881) debuted strongly, closing up 42% at HKD 14.2, focusing on AIDC solutions [10] - New Qian'an (02573) also performed well, rising 21.43% with a focus on food additives [11]

文 | 赵伟、屠强 联系人 | 屠强、 耿佩璇 摘要 事件： 6月9日，国家统计局公布5月通胀数据，CPI同比-0.1%、前值-0.1%、预期-0.2%、环比-0.2%；PPI 同比-3.3%、前值-2.7%、预期-3.2%、环比-0.4%。 核心观点：消费需求改善令核心CPI企稳，但供给侧对通胀读数有较大压制。 特征一：核心商品PPI明显回弹，主因需求改善，且关税对价格的冲击尚未进一步加剧。 5月核心商品 PPI同比回升0.3pct至-1.4%，一是提振消费政策效果持续显现，部分消费品需求释放带动相关行业价格回 升；二是关税对价格的冲击趋于缓和，部分出口行业价格的回落幅度并未加大。具体行业看，制鞋业价 格上涨0.8%，计算机整机制造价格上涨0.2%，家用洗衣机、电视机制造、汽车整车制造价格降幅比上月 分别收窄1.6、1.4、0.6pct。 而5月PPI跌破-3%，更多反映大宗商品价格的拖累。 5月PPI同比较前月回落0.6pct至-3.3%。其中国际油 价下行拖累国内油价，测算油价拖累PPI环比-0.1%。同时地产、基建投资走弱，煤炭供应充足，钢、煤 价格也有回落，测算钢、煤价拖累PPI环比-0.3%。而铜 ...