香港交易及結算所有限公司、香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本 的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本申請版本全部或 任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Sunwoda Electronic Co., Ltd.* 欣旺達電子股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的 要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代 表 閣下知悉、接納並向本公司、其保薦人、整體協調人、顧問或包銷團成員表示同意： 本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》呈交香港公司註冊處處長登記 前，本公司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請， 有意投資者務請僅依據呈交香港公司註冊處處長登記的本公司招股章程作出投資決定；招股章程的 文本將於發售期內向公眾發佈。 * 僅供識別 ( ...

证券日报网讯1月29日，蔚蓝锂芯（002245）在互动平台回答投资者提问时表示，根据深交所相关规 定，如果净利润变动50%以上需要在不迟于1月31日发布业绩预告。公司2024年度归属于上市公司净利 润为4.88亿元，2025年1-9月归属于上市公司净利润为5.13亿元。2025年第四季度公司经营情况正常，公 司会按照相关规定履行信息披露义务。 ...

凭借自主研发的核心技术、高安全性的系统设计以及对不同市场需求的精准响应，楚能新能源在60多个国家和地区实现批量交付与标杆项目 落地，2025年出货量超90GWh，品牌国际影响力持续提升。 今年初，楚能新能源董事长代德明在新年寄语中表示，当前，新能源行业正迎来新一轮技术与市场的变革，广阔的发展前景呼唤我们以更大决 心和更高效率，将蓝图转化为现实。2026年，楚能新能源四大基地正齐头并进，超300GWh的扩建产能必须快速、扎实地落地为有效产能。 | 往 | 期 回 | 顾 | | --- | --- | --- | | 01 | ｜ | 宁德时代接连落地多个项目！ | | 02 | ｜ | 9亿元！比亚迪海外动力电池厂来了 | | 03 | ｜ | 绝地反击！三星SDI抛出大动作！ | | 04 | ｜ 举办！ | 2026（第二届）起点锂电圆柱电池技术论坛暨圆柱电池20强排行榜发布会4月深圳 | 点击 阅读原文 ，查看富工流体更多内容！ 据湖北省襄阳市人民政府消息，1月28日，楚能新能源襄阳70GWh锂电池项目（简称：襄阳楚能项目）首个电芯车间——3号电芯车间主体迎 来结构性封顶。该项目于2025年10月28日 ...

Core Insights - The article highlights that by 2025, the shipment of silicon-based anodes in China's lithium battery market is expected to reach 13,000 tons, representing a year-on-year growth of 65.3%. This growth is primarily driven by the demand for 46 series cylindrical batteries, the high-endization of electric vehicles (EVs) with increased range requirements, and the maturation of related technologies [2]. Group 1: Industry Overview - The silicon-based anode market is transitioning from small-scale supply to a phase of large-scale and stable supply over the next two years [2]. - The top 10 companies in terms of shipment volume for 2025 are listed as: BetterRay, Shanshan, Tianmu Xian Dao, Zhongke Xingcheng, Zicheng Technology, Lanxi Zhide, Carbon One New Energy, Solide, Luoyang Lianchuang, and Yijin New Energy [2]. Group 2: Research Institution Profile - Qidian Research Institute SPIR is a research organization focused on the new energy and new materials industry chain, headquartered in Shenzhen. The research team has over 15 years of experience in the new energy sector, providing data reports and cutting-edge research results [4]. - SPIR's main research areas include lithium batteries, sodium batteries, solid-state batteries, energy storage materials and equipment, electric vehicles, charging and swapping, new energy materials, and new energy equipment. The organization has served leading global companies such as Samsung, LG, Mercedes-Benz, Panasonic, CATL, ATL, BASF, Yiwei Lithium Energy, and Haicheng Energy Storage [4].

加大西南市场布局，中创新航再度落子！ 企查查官网显示，1月27日， 中创新航科技（自贡）有限公司 正式注册成立 ，所属 四川省自贡市沿滩区， 注册资本15亿元， 法人为 耿言 安， 董事长为刘静瑜。 经营范围包括 新材料技术研发；电池制造；电池销售；新材料技术推广服务；汽车零部件及配件制造；新能源汽车整车销售；新能源汽车换 电设施销售；新能源汽车电附件销售；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。 股权信息显示，该公司由中创新航及 自贡市东投建设开发有限公司共同持股， 分别持股51%和49%。其中 自贡市东投建设开发有限公司背 后的实控人为 自贡市政府国有资产监督管理委员会。 不难看出，与地方国资达成合作已成为中创新航在产业战略布局中的核心路径与主要落地方式，而在此之前，中创新航便已率先布局国企合作 赛道，与多家不同领域的国有企业携手，通过共同出资设立项目公司的形式，推进相关业务的落地与布局，为后续深化与地方国资的合作奠定 了实践基础。 比如，2025年8月，与邯郸国有企业 合资的 中创新航科技（邯郸）有限公司，注册资本高达40亿元；2025年11月，与信阳 国有企业 合资 的 中创新航科 ...

Core Viewpoint - The lithium battery industry is undergoing a cyclical adjustment after a period of intense capacity expansion, leading to a reshaping of the competitive landscape [2][9]. Group 1: Industry Background - From 2020 to 2022, the industry experienced a capital influx phase, characterized by the active participation of "first-generation cross-border" companies [4]. - The volatility in lithium carbonate prices during this period reflected supply-demand dynamics and prompted traditional enterprises to seek new growth avenues [5]. - Significant capital flowed into lithium mining, cathode materials, and electrolyte sectors based on high industry expectations [6]. Group 2: Shift in Investment Logic - The previous investment logic focused on resource positioning and capacity scale, aiming for beta returns through heavy asset investments [7]. - As the cycle declined, high inventory levels and falling prices challenged the expansion model reliant on capital leverage, leading to valuation corrections and capacity clearances for many projects [8]. Group 3: Emergence of New Players - A new wave of "second-generation cross-border" companies is entering the market, focusing on the micro-materials sector, which has been overlooked but has high technical barriers [10][11]. - Liangjingjing New Materials, based in Fujian, exemplifies this trend by entering the lithium battery anode binder niche, aiming to optimize battery manufacturing yield and cost through micron-level process improvements [12]. Group 4: Technical Foundation and Innovation - The founder of Liangjingjing, Zeng Weijie, has nearly 20 years of experience in emulsion polymerization, which underpins the company's strategic focus on SBR binders rather than repeating the "main material" expansion path [13]. - The company is also developing new types of anode binders, such as PAA, for next-generation battery systems [16]. Group 5: Performance and Product Development - Liangjingjing's products, such as the LAD08 series, have shown significant improvements in peel strength, achieving 2-3 times better performance compared to conventional systems [41]. - The company has optimized electronic transmission efficiency in its new product lines, reducing charge transfer resistance by approximately 75% [43]. Group 6: Market Positioning and Supply Chain - Liangjingjing has entered the supply chains of leading companies like BYD, Penghui, and Putailai, with its products offering a balance of cost-effectiveness and supply chain stability [52]. - The company is positioned to meet the growing demand for lithium battery binders, with expectations of over 100,000 tons of global demand in the next five to ten years, corresponding to a market size of over 20 billion yuan [60]. Group 7: Capacity Expansion and Strategic Planning - Liangjingjing plans to produce 19,000 tons of SBR annually at its Fujian base, including 5,000 tons for lithium batteries, and is expanding its capacity in Guangxi to 450,000 tons per year by 2028 [65][66]. - This dual-base strategy and diversified product structure aim to ensure supply capability while mitigating risks associated with a single market segment [67]. Group 8: Industry Evolution and Future Outlook - The transition from the first generation of cross-border companies to the second generation reflects a maturation of China's fine chemical industry and a shift towards engineering capabilities and problem-solving [72]. - Companies like Liangjingjing are moving from being mere material suppliers to partners that help battery manufacturers control yield, optimize costs, and enhance energy density [69].

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 针对上述提问，蔚蓝锂芯回应称："尊敬的投资者，您好，公司目前经营情况正常，公司锂电池销售价 格会根据原材料总体价格波动情况适时调整。" 有投资者在互动平台向蔚蓝锂芯提问："尊敬的董秘，你好!请问自2025年6月碳酸锂期货价格探底以 来，截止至今日已经疯长了两三倍！这对公司利润影响大么？谢谢。" ...

Core Viewpoint - The article discusses a strategic cooperation agreement signed between the Kunming Municipal Government, the Yunnan Dianzhong New District Management Committee, and Contemporary Amperex Technology Co., Limited (CATL) to enhance collaboration in the fields of new energy batteries, green energy, green transportation, and low-altitude economy [2][4]. Group 1: Strategic Cooperation - The agreement focuses on the development of a lithium battery green manufacturing base in the Yunnan Dianzhong New District, with construction expected to commence in the first quarter of 2026 [4]. - CATL has established a subsidiary, Yunnan Times New Energy Technology Co., Ltd., in Kunming with a registered capital of 1 billion yuan [5]. Group 2: Market Insights - The article outlines various market segments related to lithium batteries, including lithium carbonate, electrolytes, copper foil, lithium cobalt oxide, ternary materials, lithium iron phosphate, and more, indicating a comprehensive analysis of the lithium battery market trends expected by 2025 [3].

【文/观察者网 张菁娟】中印边境地区仍处隆冬，但两国关系已悄悄回暖。 印度经济学家、新德里观察家研究基金会高级研究员夏尔马（Mihir Sharma）28日在彭博社发文称，中 印不仅恢复了外交互访、重启了军方会晤，最重要的是，印度已开始重新评估中国作为经济伙伴的角 色。而这一转变背后，是印度认清了现实。 文章写道，印度曾是全球对中国投资和贸易最为警惕的国家。2020年中印边境冲突后，印度限制中企竞 标印度政府项目，要求其必须在印度政府部门登记，通过安全和政治审核。这一措施不仅导致中企在印 中标合同金额大幅缩水，更造成印度国内相关物资短缺、大批工程项目进度滞后。 如今，这些针对中企的限制措施正迎来松绑，中印间的资本跨境流动也有望逐步恢复。 彭博社本月初援引两名印度政府消息人士的话报道称，印度财政部计划取消已实施5年的中企参与政府 合同项目竞标限制，相关决策的最终决定权在印度总理办公室。 "在这个由国有部门主导大量投资活动的国家，这绝非小事。"夏尔马表示，印度已清晰认识到自身丧失 了多项战略优势。印度官员与企业界形成普遍共识：脱离中国的零部件、资本与技术，印度经济永远难 以具备全球竞争力。 据报道，印度信实公司曾 ...

Supply Side - In 2025, European automakers will focus on vehicles priced below €30,000 to activate consumer potential, with new electric platforms driving down the price range from €45,000-€60,000 to €15,000-€30,000, aided by the introduction of affordable lithium iron phosphate technology [1] - The marginal contribution of new car sales is estimated to be approximately 42.6% from Q1 to Q3 of 2025, significantly enhancing consumer potential [1] - In 2026, the introduction of entry-level models will accelerate, with platforms like Volkswagen's MEB+ and Stellantis' STLASmall set to launch new electric models, while BMW's Neue Klasse will lead luxury electric innovation with the iX3 model [1] Policy Side - European electric vehicle subsidies are set to be enhanced in 2026, focusing on low-income groups and affordable models, with countries like Germany, France, and the UK reintroducing or increasing purchase incentives [2] - Germany plans to restart single-car subsidies of €3,000-€4,000, while France will increase subsidies by €1,500-€1,600, with an additional €1,000 for purchasing local batteries [2] - The overall policy support for the electric vehicle market is expected to strengthen, driving a turning point in electric vehicle penetration rates [2] Lithium Battery Industry Chain - The lithium battery industry is accelerating its overseas expansion, with Chinese companies like CATL, EVE Energy, and Guoxuan High-Tech entering core supply chains of automotive platforms [3] - Since 2022, Chinese lithium battery enterprises have been rapidly establishing overseas factories, particularly in regions like Europe and Southeast Asia, forming advanced manufacturing clusters [3] - The leading segments in lithium battery capacity expansion are expected to benefit first from overseas growth, including lithium batteries, cathode materials, structural components, and smart manufacturing equipment [3]