智通财经APP获悉，广发证券发布研报称，2025年香港IPO市场或迎来全面复苏。截至2025年5月31日，港交所IPO数量达28家，较2024年同期增长7.1倍， 中概股回归港股、A股公司发行H股等也将进一步带动市场热度。 广发证券主要观点如下： 港股IPO提速的市场背景： (1)成交量方面，2025年至今恒生指数日均成交量达2409.16亿港元，市场活跃度维持在较高水平。 (2)换手率方面，2025年至今日均换手率达38.2%，市场情绪好。 内陆企业赴港上市原因：(1)政策支持，鼓励中国优质资产国际化;(2)宽松的政策环境为在港上市提供了灵活的上市机制与较高的上市效率;(3)企业自身出 海战略和国际化发展需要。 2025年至今A股赴港IPO募资投向：(1)产能扩张与项目建设;(2)研发与技术投入;(3)海外市场拓展，包括销售渠道建设、跨境电商、矿山收购等;(4)并购与战 略投资;(5)营运资金补充。 | 公司 | 用途 | | | --- | --- | --- | | 宁德时代 | (1) 约90%或 27.646.1百万港元将用于推进匈牙利项目第一期及第二期建设: | | | | (2) 约 10%或 ...

近年来，德尔股份固态电池研发成果显著。2023年，公司在日本开发的固态电池样品已通过第三方机构 多项严苛安全测试，包括针刺、加热和过充电实验，安全性表现突出。2025年，德尔股份固态电池技术 攻关持续突破，在今年2月举行的东京国际二次电池展上，公司展示了第二代固态电池产品，能量密度 达到260Wh/kg，而第三代固态电池产品的目标能量密度将突破400Wh/kg。 今年年初，德尔股份在上海设立的试制线成功完成国内首款固态电池样品的制备，验证了核心涂覆工艺 在国内生产环境下的可复制性，具备为新能源汽车、无人机、机器人等多应用场景进行定制化开发的能 力。 当前行业普遍认为，全固态电池的商业化应用预计将于2027年左右在部分高端车型上实现装车，并有望 在2030年进入更大规模的量产阶段，从而有力推动新能源汽车实现续航里程突破1000公里、充电时间缩 短至10分钟以内的目标。如今，国内外主流电池企业均已跑步入场，全力抢占技术制高点和产业化先 机。中泰证券指出，固态电池将在"政策引导+市场需求+技术迭代"三重驱动力的共同作用下，带动锂 电池行业完成新一轮升级革命。 （文章来源：证券时报网） 德尔股份微信公众号日前发文表示 ...

【DT新材料获悉】 获悉，近日， 众钠能源 成功完成A2轮融资，投资方包括天德投资及老股东赛泽 资本，A轮总融资额近3亿元，融资资金将重点投向技术研发、产能布局及市场开拓等方面。 众钠能源 成立于 2021年1月 ， 是一家 钠离子电池研发商 ，围绕聚阴离子技术路线深度攻关，依托该路线， 公司已于2022年推出了旗下主打产品之一——硫酸铁钠电池。公司通过全固态预混技术与低温烧结工艺的完美 结合， 不仅可将材料量产的能耗削减至磷酸铁锂正极材料的70%以下，更实现了完全无废排放的"绿色制 造"， 原料利用率近100% 。 众钠能源将持续突破材料体系创新，优化产品开发流程，完备生产工艺制程，全力推进盐城百固和眉 山里钠建设。 其中，盐城百固钠电与固态电池中试量产基地已于2024年11月开工建设并将于6月投 产。 该项目是众钠能源依托与中国科学院上海硅酸盐研究所温兆银教授团队的联合研发，对未来固 态钠电技术的备战 。 在应用场景拓展方面，众钠能源将进一步分层次拓展轻型动力、启停电源，备用电源、储能等核心场 景的示范攻坚和规模应用，继续作为行业旗手，推动硫酸铁钠电池规模化落地。 具体来看，在轻型动力场景，众钠能源已形成 ...

Group 1: Semiconductor Industry - Broadcom reported Q2 adjusted net revenue of $15 billion, exceeding analyst expectations of $14.96 billion, and expects Q3 revenue around $15.8 billion, slightly above the forecast of $15.72 billion [2] - The company anticipates continued growth in AI chip sales into FY2026 due to increased spending from major clients on AI inference [2] - Other semiconductor companies, such as STMicroelectronics and Texas Instruments, have also indicated positive demand outlooks, suggesting a sustained recovery in the global semiconductor industry [2] Group 2: Ethylene Export Restrictions - Recent reports indicate that the U.S. government has notified energy companies to apply for licenses to export ethane to China, with one company's request being denied [2] - This move is perceived as a response to China's rare earth export controls, potentially impacting domestic ethylene cracking enterprises due to reliance on U.S. imports [2] Group 3: Lithium Battery Industry - The lithium battery industry is experiencing a significant downturn, with 108 Chinese lithium companies reporting a 11.87% decline in overall revenue in 2024, and a 67.27% drop in net profit [5] - Over 30 lithium manufacturing companies have ceased operations in the past two and a half years, with total investments exceeding 100 billion [5] - Northvolt's bankruptcy filing is seen as a landmark event in the industry's inventory reduction and capacity cut cycle, indicating a potential upcoming recovery phase [5] Group 4: Consumer Sector - Baiya Co. achieved revenue of 999.5 million yuan in Q1 2025, a significant increase of 30.10% year-on-year, with net profit rising by 27.27% [7] - The company experienced a notable growth in offline channels, with revenue from this segment reaching 650 million yuan, up 49% year-on-year [7] - Baiya's expansion into non-core provinces has resulted in a 125.1% increase in revenue, indicating a strong national growth strategy [7]

公司是南孚电池控股股东，持股比例有望进一步提升。未来碱性替代碳性电池，布局海外OEM 和拓展 储能业务，有望提供公司成长性。我们调整2025-2026 年和增加2027 年盈利预测，预计公司2025-2027 年归母净利润分别为2.0/2.3/2.5 亿元（原预测2025-26 年3.92/4.37 亿元），对应PE分别为29/26/24 倍， 维持"买入"评级。 【风险提示】 下游需求不及预期,价格波动； 行业竞争格局加剧； 储能等项目拓展进度不如预期。 公司发布2024 年年报和2025 年一季报。2024 年，公司实现销售收入 46.38 亿元，增长 7.43%；净利润 8.07 亿元，增长13.68%；归属于母公司的净利润1.68 亿元，增长45.20%。公司25Q1 实现营业收入13.8 亿元，同比+5.8%；归母净利润为0.7 亿元，同比+10.0%；扣非归母净利润为0.7 亿元，同比+9.0%。 产品和研发端，凭借多年的精细运营，南孚电池在产品创新与质量控制方面持续进步，深入理解并满足 消费者需求，不断巩固其在国内电池市场的领先地位。截至2024 年末，南孚牌碱锰电池连续32 年保持 国内市场销 ...

Core Viewpoint - Contemporary Amperex Technology Co., Ltd. (CATL) has applied for the registration of the trademarks "Dual-Core Battery" and "CATL Dual-Core Battery," indicating a focus on innovative battery technology [1] Group 1: Trademark Registration - CATL has submitted applications for the trademarks "Dual-Core Battery" and "CATL Dual-Core Battery," both classified under scientific instruments [1] - The current status of these trademarks is pending substantive examination [1] Group 2: Product Launch - On April 21 of this year, CATL officially launched the Xiaoyao Dual-Core Battery during the Super Technology Day event [1] - The Xiaoyao Dual-Core Battery represents a deep integration of CATL's dual-core architecture and self-generating negative electrode technology [1]

| 元前期货 | | | 碳 锌 8 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 交易日期(日) | 2025-06-05 | 2025-06-04 | 2025-05-29 | 较昨日变化 | 近两周走势 | | | 近月合约 | | 60140.00 | 61220.00 | 58920.00 | -1,080.00 | | | | 连一合约 | 收盘价 收盘价 | 60100.00 | 61080.00 | 58860.00 | -980.00 | | | | 连二合约 | 收盘价 | 60540.00 | 61220.00 | 59180.00 | -680-00 | | | | 连三合约 | 收盘价 | 60540.00 | 61220.00 | 59100.00 | -680.00 | | | | | 收盘价 | 60100.00 | 61080.00 | 58860.00 | -980.00 | | | 碳酸锂期货 | 活跃合约 | 成交量(手) | 244592.00 | 413239.00 | 38614 ...

Core Viewpoint - Sodium-ion batteries are gaining attention as a potential alternative to lithium-ion batteries, with significant differences in production processes and material selection that impact cost, resource availability, and thermal stability [3][4][28]. Group 1: Overview of Sodium-Ion Battery Production Process - The production process of sodium-ion batteries includes five main stages: raw material preparation, positive and negative electrode material preparation, electrode preparation, battery assembly, and battery testing [3]. - Key advantages of sodium-ion batteries over lithium-ion batteries include lower material costs, higher resource availability, and better thermal stability, making them suitable for applications in energy storage and low-speed electric vehicles [3]. Group 2: Raw Material Preparation Stage - The raw material preparation stage is critical, involving the selection and pre-treatment of key materials such as positive and negative electrode materials, electrolytes, separators, and current collectors [4][5]. - Positive electrode materials include layered oxides and polyanionic compounds, with P2-Na0.67Ni0.1Fe0.1Mn0.8O₂ noted for its high capacity [4][5]. - Environmental control is crucial, with humidity levels needing to be kept below 1% to prevent sodium materials from absorbing moisture [7]. Group 3: Positive and Negative Electrode Material Preparation Stage - This stage is vital for determining the battery's energy density, cycle life, and safety, involving processes like raw material mixing, sintering, and post-treatment [8]. - Key parameters for positive electrode material preparation include sintering temperature (800-1100°C for layered oxides), sintering time (2-12 hours), and atmosphere control [8][11]. - Hard carbon is the mainstream choice for negative electrode materials due to its high sodium storage capacity and excellent cycling stability [8]. Group 4: Electrode Preparation Stage - The electrode preparation stage includes slurry preparation, coating, rolling, and cutting, with strict quality control impacting battery performance [12]. - Special mixing techniques are required to ensure slurry uniformity, and coating machines must maintain high humidity control [12][16]. - The rolling process enhances the density of electrode materials, significantly improving conductivity [13]. Group 5: Battery Assembly Stage - Battery assembly involves winding or stacking, welding, packaging, and electrolyte injection, with precision in these processes directly affecting battery consistency and safety [17]. - Winding machines must achieve alignment accuracy of ±0.5mm, while stacking machines require even higher precision [17][22]. - Laser welding techniques are adapted for the high reflectivity of aluminum current collectors used in sodium-ion batteries [17]. Group 6: Battery Testing and Screening Stage - This final stage includes formation, capacity grading, charge-discharge testing, cycle life testing, and safety performance testing to ensure batteries meet design standards [23]. - The formation process typically employs a three-stage charging method under vacuum conditions to stabilize the solid electrolyte interface (SEI) [23][27]. - Cycle life testing for sodium-ion batteries generally ranges from 1000 to 5000 cycles, necessitating process optimizations to enhance performance [25][40]. Group 7: Differences in Production Equipment - Sodium-ion battery production equipment differs from lithium-ion batteries primarily due to variations in current collector materials, electrode materials, and electrolyte compositions [28][30]. - The use of aluminum foil for both electrodes in sodium-ion batteries necessitates specialized welding equipment to address the challenges posed by its high reflectivity [28]. - Equipment for preparing electrolytes must be resistant to corrosion due to the specific sodium salts used [30]. Group 8: Key Technical Details in Production - Key technical details in sodium-ion battery production focus on material synthesis, electrode coating, and battery assembly, which directly influence performance and consistency [32]. - Innovations in coating technology, such as negative pressure techniques, help mitigate issues related to material aggregation and drying [32][38]. - The optimization of electrolyte formulations and additives is crucial for enhancing battery stability and cycle life [33]. Group 9: Environmental Control Requirements - Stringent environmental control is essential in sodium-ion battery production, particularly regarding humidity, dust, and temperature [34]. - Humidity levels must be maintained below 1% to prevent moisture absorption by sodium materials, while dust control is critical to avoid short circuits [34][35]. - Temperature control is vital during formation and capacity grading processes to ensure the stability of the SEI layer [35]. Group 10: Future Development Trends - The future of sodium-ion battery production is expected to focus on automation, process simplification, and the application of solid electrolytes [36][43]. - Innovations in winding and stacking processes aim to improve battery performance and consistency [38]. - The optimization of electrolyte formulations will enhance ionic conductivity and stability, extending battery life [38][43].

斩获海外商用车订单也再度彰显了瑞浦兰钧在该领域综合竞争力。在商用车领域，瑞浦兰钧布局较早，通过技术研发、产品验证、客户绑定、 生态搭建等多个维度，实现了电池出货与排名的跃升。 全球化布局深入，瑞浦兰钧海外市场再下一城！ 据瑞浦兰钧 6 月 4 日消息， 5 月 29 日，瑞浦兰钧与印度尼西亚 Bakrie & Brothers 集团正式签署商用车电池系统战略合作备忘录，共同 推动绿色能源在印度尼西亚市场的应用与普及， 双方将在 2025 年内合作交付超过 3000 辆电动公交车和卡车的动力电池。 PT VKTR Teknologi Mobilitas Tbk （ VKTR ）是 Bakrie & Brothers 集团投资并建设的印度尼西亚第一个商用车制造工厂，专注于电动 客车和轻重型卡车的生产与销售，拥有包括底盘组装、电池组装、车身焊接、喷漆、总装、整车测试等全流程制造能力。 瑞浦兰钧表示，未来，双方将围绕 "绿色运输，印尼制造"的理念，在镍产品冶炼、电池原材料、动力电芯 & 系统等方面，深化产业链战略合 作。 此外，瑞浦兰钧还提到，公司印尼制造基地建成后，将制造符合印尼本地化率要求（ TKDN ）的动力电 ...

Group 1 - The core viewpoint of the news is the collaboration between China National Geography and CATL to promote zero-carbon tourism through the release of the first "Zero Carbon Destination Pioneer List," which includes five exemplary scenic spots [2] - The evaluation committee for the list consists of experts from China National Geography, CATL, and renowned specialists in sustainable development, climate change, carbon reduction economy, and natural sciences, employing a comprehensive assessment system based on four core evaluation criteria [2] - The first five selected destinations are Danxia Mountain National Nature Reserve, Huangshan Scenic Area, Zhangjiajie National Forest Park, Changbai Mountain Huamei Resort National Tourism Resort, and Wuyi Mountain National Park, all demonstrating innovative practices in zero-carbon travel, green electricity application, ecological carbon sequestration, and carbon sink development [2] Group 2 - CATL introduced a zero-carbon tourism solution centered around "four transformations" (electric transportation operation, green electricity supply for scenic areas, intelligent carbon management, and commercialization of zero-carbon tourism) and signed a strategic cooperation agreement with Wuyishan Cultural, Sports and Tourism Bureau [3] - Currently, 100% of the operational vehicles in Wuyishan Scenic Area are new energy vehicles powered entirely by CATL batteries, indicating a strong commitment to zero-carbon transformation [3] - CATL, along with several automotive companies, initiated the "Zero Carbon Destination Self-Driving Alliance," which is expected to boost both tourist numbers and revenue for destinations, providing a unique zero-carbon travel experience for over 100,000 car owners [3]