Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The market sentiment of lithium carbonate has significantly receded, but it rebounded after approaching the 70,000 RMB mark, indicating that downstream buyers have a stronger willingness to stock up at low prices. However, there are concerns about weakening demand in the medium to long term [4][5]. - For industrial silicon, the market is driven by news, with increased volatility. Before the implementation of supply - side reform measures, the market may continue to speculate on policy expectations [6]. - In the case of polysilicon, short - term speculative sentiment is high, but the weakening terminal demand and high enterprise inventories will create selling pressure. The full - cost line provides strong support, and the market may still speculate on policy expectations before supply - side reform measures are introduced [7][8]. Summary by Directory Part One: Spot Prices 1.1 Plate Strategy Recommendation - **Lithium Carbonate 09**: It is expected to fluctuate strongly. The support level is 65,000 - 66,000 RMB, and the pressure level is 78,000 - 83,000 RMB. Sellers are advised to seize hedging opportunities, and downstream cathode material enterprises should focus on low - price inventory replenishment [13]. - **Industrial Silicon 09**: It will have two - way fluctuations. The support level is 8,500 - 8,600 RMB, and the pressure level is 9,900 - 10,000 RMB. It is recommended to wait and see [13]. - **Polysilicon 09**: It will have two - way fluctuations. The support level is 45,000 - 46,000 RMB, and the pressure level is 55,000 - 56,000 RMB. It is recommended to reduce long positions [13]. 1.2 Futures and Spot Price Changes | Variety | Closing Price | Daily Change | Trading Volume | Open Interest | Open Interest Change | Warehouse Receipts | | --- | --- | --- | --- | --- | --- | --- | | Lithium Carbonate | 70,600 RMB | - 0.34% | 792,909 | 272,753 | - 27,867 | 13,131 | | Industrial Silicon | 9,285 RMB | - 0.70% | 605,161 | 242,677 | - 34,057 | 49,846 | | Polysilicon | 54,705 RMB | 8.87% | 565,243 | 164,490 | 23,852 | 3,070 | [13] Part Two: Fundamental Situation 2.1 Lithium Carbonate Fundamental Data - **Production and Inventory**: Last week, the lithium carbonate production was 18,630 tons, a decrease of 485 tons from the previous week. The total sample inventory was 143,170 tons, an increase of 550 tons from the previous week, reaching a new high. The weekly apparent demand was 18,080 tons, a phased high. The inventory - to - use days were relatively stable at 55.4 days [4]. - **Downstream**: As the penetration rate of new - energy vehicles exceeds 50%, the growth rate of new - energy vehicle demand is gradually declining. The production and sales growth rate in August is expected to decline further, and the production and sales volume in the fourth quarter may be flat or even lower than the same period last year [4]. 2.2 Industrial Silicon Fundamental Data - **Production and Inventory**: The resumption of production by manufacturers has accelerated due to the recovery of profits. The production is expected to continue to increase. The inventory has decreased in the short term due to improved sales, but the follow - up sales and production cuts need to be monitored [6]. - **Downstream**: No specific content provided. 2.3 Polysilicon Fundamental Data - **Production and Inventory**: Short - term speculative sentiment is high, and the fundamental drivers are temporarily ineffective. High inventories and weak terminal demand will create selling pressure, while the full - cost line provides support [7][8]. - **Downstream**: No specific content provided.

Group 1 - Shandong is implementing a "chain leader system" focusing on 19 key industrial chains to promote the deep integration of industrial, supply, and innovation chains, resulting in significant growth in sectors such as automotive (16.2%), railway and shipbuilding (21.1%), and electronics (21.9%) in the first half of the year [1][4] - The number of enterprises involved in these key industrial chains exceeds 36,000, accounting for over 90% of the province's total [4] - Shandong has introduced over 20 supportive policies across various industries, including artificial intelligence and modern medicine, to enhance the development of these industrial chains [4][6] Group 2 - The "chain leader" enterprises, such as Shandong Guochuang Precision Machinery Co., are attracting upstream and downstream companies to establish a renewable energy equipment manufacturing base, producing over 85% of wind power products locally [2][4] - Shandong plans to hold 30 provincial-level industrial chain matching events this year, aiming to serve over 100,000 small and medium-sized enterprises [5] Group 3 - The textile industry chain, led by Lutai Textile Co., is innovating with self-cleaning fabrics and cross-border knitting, creating a full-cycle innovation chain from fiber to finished garments [6][7] - Shandong has initiated 1,762 provincial-level technology innovation projects, resulting in the development of 7,074 new technologies, products, and processes [8] Group 4 - The robotics industry in Shandong is experiencing rapid growth, with industrial robot production increasing by 72.4% from January to May [10] - The lithium battery industry cluster in Zaozhuang has achieved significant production capacities, including 160,000 tons of positive materials and 32 GWh of battery cells [13] Group 5 - Shandong's industrial value added increased by 7.7% in the first half of the year, with industrial investment growing by 13.4%, contributing 5.2 percentage points to overall investment growth [14]

Group 1 - Shandong Province is implementing a "chain leader system" focusing on 19 key industrial chains to promote the integration of industrial, supply, and innovation chains, resulting in significant growth in sectors such as automotive (16.2%), rail and shipbuilding (21.1%), and electronics (21.9%) in the first half of the year [1][3] - The number of enterprises involved in these key industrial chains exceeds 36,000, accounting for over 90% of the province's total [3] - Shandong has introduced over 20 supportive policies across various industries, including artificial intelligence and modern medicine, to enhance the development of these industrial chains [3][6] Group 2 - The textile industry chain, led by Lutai Textile Co., is innovating with self-cleaning fabrics and cross-border knitting, establishing a comprehensive innovation chain from fiber to finished garments [6][7] - Shandong has initiated 1,762 provincial-level technology innovation projects, resulting in the creation of 7,074 new technologies, products, and processes, fostering a collaborative innovation environment among enterprises [7] - The local shipbuilding industry has seen a 50 percentage point increase in local supply rates for engine crankshafts, with overall local supply rates reaching 89% [6][7] Group 3 - The lithium battery industry cluster in Zaozhuang has achieved significant production capacities, including 160,000 tons of positive materials and 32 GWh of battery cells [12] - Qingdao's instrument and meter industry has developed a robust ecosystem with over 250 large-scale enterprises and 1,000 technology-based companies, supported by leading "chain master" enterprises [12][13] - Shandong has established six national advanced manufacturing clusters and 23 characteristic industrial clusters for small and medium-sized enterprises, ranking among the top in the country [13]

格隆汇7月29日丨天铁科技(300587.SZ)公布，公司（以下简称"公司"或"天铁科技"）之孙公司安徽天铁 锂电新能源有限公司（简称"安徽天铁"）与珠海欣界能源科技有限公司（简称"珠海欣界"）签署《采购 框架协议》，基于框架协议，安徽天铁与珠海欣界签订《框架协议采购订单》，由珠海欣界向安徽天铁 采购铜锂复合带，订单金额为4亿元人民币（含税，具体以正式PO为准）。 ...

天铁科技（300587）(300587.SZ)公告，公司孙公司安徽天铁锂电新能源有限公司(简称"安徽天铁")与珠 海欣界能源科技有限公司(简称"珠海欣界")签署《采购框架协议》，基于框架协议，安徽天铁与珠海欣 界签订《框架协议采购订单》，由珠海欣界向安徽天铁采购铜锂复合带，订单金额为4亿元。 ...

智通财经APP讯，天铁科技(300587.SZ)公告，公司孙公司安徽天铁锂电新能源有限公司(简称"安徽天 铁")与珠海欣界能源科技有限公司(简称"珠海欣界")签署《采购框架协议》，基于框架协议，安徽天铁 与珠海欣界签订《框架协议采购订单》，由珠海欣界向安徽天铁采购铜锂复合带，订单金额为4亿元。 ...

Core Insights - The Jiangxi Jiujiang Lakeside High-tech Industrial Park (Lakeside Park) has officially entered the trillion-yuan park category in 2024, achieving accounts receivable of 101.778 billion yuan, a year-on-year increase of 8.34% [1] Group 1: Industrial Development - Lakeside Park, established in 2003, has evolved from the Jinsha Bay Industrial Park and is recognized as a national fine chemical industrialization base and a provincial circular economy demonstration park [2] - The park has developed a new industrial structure characterized by lithium battery new energy as the leading industry, with fine chemicals, steel and non-ferrous metals, and digital economy as the main industries, forming a "1+3+N" industrial pattern [2] - Lakeside Park has attracted nearly 30 major projects with investments exceeding 2 billion yuan, including 15 Fortune 500 and listed companies, contributing to significant industrial growth [2] Group 2: Enterprise Support and Services - The park has established the "Huiqi Tong" platform to enhance service efficiency for enterprises, helping 14 companies secure nearly 50 million yuan in development funds in the first half of the year [3] - Lakeside Park collaborates with financial departments to facilitate loan procedures for eligible enterprises and conducts recruitment events to support employment [3] Group 3: Digital Transformation and Risk Management - Lakeside Park is implementing a digital transformation model through the "Park + Industrial Internet Platform," which includes a safety risk intelligent control platform [4] - The platform enhances safety risk management capabilities by 50% and emergency response efficiency by 50%, with 35 key enterprises already integrated into the system [4] Group 4: Green Transformation and Environmental Protection - Lakeside Park is a core engine for industrial growth in the region and is committed to ecological protection along the Yangtze River, focusing on ecological transformation, clean production, and green development [5] - The park has completed significant environmental projects, including wastewater treatment upgrades and pollution control measures, with 23 chemical enterprises achieving environmental upgrades [5][6] - In 2024, the average PM2.5 concentration in Lakeside City is reported at 26.7 micrograms per cubic meter, with an air quality good day ratio of 94.8% [6]

Group 1 - Jiangte Electric announced a suspension of trading due to potential changes in its actual control, as notified by its actual controllers Zhu Jun and Lu Shunmin [1] - The company's stock closed at 7.74 yuan per share, with a total market value of approximately 13.21 billion yuan [1] - Jiangte Electric's controlling shareholder is Jiangxi Jiangte Electric Group Co., Ltd., which holds 14.12% of the company's shares [1] Group 2 - Jiangte Electric has faced significant operational challenges, with revenues of 2.799 billion yuan and 2.103 billion yuan in the past two years, and net losses of 397 million yuan and 319 million yuan respectively [2] - The company has accumulated losses exceeding 1 billion yuan after deducting non-recurring items [2] - The lithium mining segment is projected to have a gross margin of -22% in 2024, while the intelligent motor segment has a gross margin of 21% [2] Group 3 - To address its financial difficulties, Jiangte Electric's subsidiary Yichun Yinli New Energy Co., Ltd. will undergo a 26-day production halt for equipment maintenance starting July 25 [3] - The maintenance aims to reduce production costs across all lithium salt production lines [3]

Core Insights - Ningde City has developed four internationally competitive industrial clusters: lithium battery new energy, new energy vehicles, stainless steel new materials, and copper materials, which are significant drivers of the city's economic growth [1] Group 1: Women's Empowerment Initiatives - Ningde Women's Federation has launched a three-year action plan called "Home + Happiness" to enhance the sense of belonging among employees in leading industries and promote family harmony [1] - The Federation collaborates with various departments to interpret policies related to women's health, preferential loans, and housing benefits, aiming to support female employees in utilizing these policies effectively [3] - A series of activities, including salons and skill competitions, are organized to foster communication and innovation among female employees, thereby enhancing their professional development [3] Group 2: Health and Safety Programs - The Federation prioritizes the health and rights of female employees by providing services such as health check-ups, psychological lectures, and legal consultations [5] - Initiatives like health awareness campaigns and educational sessions are conducted to improve the health consciousness of female employees and safeguard their rights [5] Group 3: Cultural and Recreational Activities - To enrich the cultural life of female employees, the Federation organizes various cultural experience activities, integrating local heritage and arts into the programs [7][9] - Activities include sports events and hands-on workshops, which aim to enhance the overall well-being and vitality of employees [9] Group 4: Family Harmony and Support - The Federation focuses on family harmony by providing family education guidance and relationship services, helping employees build happy families [9] - Various public lectures and family education services are offered to equip employees with effective family education methods, fostering a supportive family environment [9]

Core Viewpoint - Tian Tie Technology (300587.SZ) has set ambitious targets for 2025 despite facing challenges from the temporary shutdown of its subsidiary Changjili due to a steam supply disruption caused by a lightning strike [1][2][4] Group 1: Company Performance and Targets - Tian Tie Technology aims for a revenue target of no less than 2.3 billion yuan and a net profit of no less than 580 million yuan for 2025, representing a revenue growth of 7.68% and a net profit increase of approximately 370% [1][9] - In Q1 2025, the company reported a revenue of 358 million yuan, a year-on-year decline of 39.92%, and a net profit of 10.26 million yuan, down 45.60% year-on-year [1][10] - The company achieved a revenue of 2.136 billion yuan in 2024, a year-on-year increase of 41.69%, and a net profit of 15.20 million yuan, up 102.33% [6][7] Group 2: Subsidiary Challenges - Changjili, a wholly-owned subsidiary, has been facing continuous losses with a debt ratio of 89.34% as of Q1 2025, indicating increasing financial strain [3][4] - The subsidiary's revenue for 2024 and Q1 2025 was 942 million yuan and 121 million yuan, respectively, with net losses of 60.53 million yuan and 17.44 million yuan [3][4] - The expected resumption of operations at Changjili has been delayed by approximately 10 days, with a new target date set for July 20, 2025 [1][2][3] Group 3: Market and Operational Impact - The steam supply disruption has temporarily halted operations at Changjili, but the company believes this will not significantly impact overall operations due to the ongoing production at its other subsidiary, Anhui Tian Tie [5][6] - The company is closely monitoring the repair and adjustment progress of the steam supplier, which is crucial for Changjili's operations [4][5] - The overall market environment for lithium products is expected to remain challenging, with prices continuing to decline, although at a slower rate than in 2023 [6][7]