Core Viewpoint - In 2023, China became the world's largest automobile exporter, with over 2 million new energy vehicles (NEVs) expected to be exported in 2024, marking a decade of leading global production and sales in the NEV sector [3][4]. Group 1: Importance of Central South University - Central South University (CSU) is recognized as a key institution in China's lithium battery industry, often referred to as the "Huangpu Military Academy" of lithium batteries, with approximately 70% of R&D personnel in the industry coming from CSU [8][9]. - CSU has produced numerous influential figures in the lithium battery sector, including BYD's Wang Chuanfu and Rongbai Technology's Bai Houshan, contributing significantly to the industry's talent pool [6][21]. - The university's strong programs in metallurgy, chemical engineering, and materials science have positioned it as a leader in the development of new energy materials, essential for the lithium battery industry [22][30]. Group 2: Contributions to the Lithium Battery Industry - BYD, founded by Wang Chuanfu, has evolved from a battery manufacturer to the world's leading NEV company, with significant advancements in lithium battery technology [16][18]. - Other notable alumni from CSU have founded successful companies in the lithium battery sector, such as Rongbai Technology and Shanshan Co., which have become global leaders in battery materials [21][39]. - CSU's alumni have established over 110 publicly listed companies, with more than 30 linked to the new energy sector, showcasing the university's impact on the industry [38]. Group 3: Economic Development in Hunan - Hunan province aims to achieve a total output value of 400 billion yuan in the new energy industry by 2025, with a focus on lithium batteries and energy storage materials [57]. - The return of alumni and entrepreneurs to Hunan has led to significant investments, with nearly 2 trillion yuan in projects since the "Hunan Business Return" initiative began [51][72]. - BYD's establishment in Hunan has catalyzed the local NEV industry, attracting other companies and fostering a robust supply chain in the region [66][68].

Group 1 - The Hang Seng Index rose by 0.20%, gaining 47 points to close at 24,250 points, while the Hang Seng Tech Index increased by 0.41% [1] - The Hong Kong stock market saw a morning trading volume of HKD 144 billion [1] - Notable gainers included Innovent Biologics (up over 5%), BeiGene (up 4.46%), and CSPC Pharmaceutical (up 3.88%) [1] Group 2 - Bilibili-W rose by 4.79% as HSBC expressed optimism about its gaming and advertising business, suggesting potential for increased shareholder returns [1] - Yunfeng Financial surged by 18.18% due to its strategic focus on digital currency and AI [1] - GDS Holdings (up 10.16%) announced the early conclusion of public fundraising for its Southern GDS Data Center REIT [1] Group 3 - Major declines were observed in the property sector, with R&F Properties falling by 5.36% and Sunac China down by 5.75%, as institutions expect continued pressure on the sector's performance [1] - Longpan Technology dropped over 4% due to ongoing challenges in the lithium battery industry, with projected losses of up to CNY 98.3 million for the first half [1] Group 4 - Ganfeng Lithium fell over 5% as the prices of lithium salts and battery products continued to decline, with expected losses exceeding CNY 300 million for the first half [2] - Chenming Paper experienced a drop of over 7% due to a major production base undergoing maintenance, with anticipated losses exceeding CNY 3.5 billion for the first half [3] - Beijing Jingcheng Machinery Electric Company also fell over 7%, projecting a net loss of up to CNY 18 million amid pressure on its gas storage and transportation export business [3] - China Silver Group declined over 8% after announcing a discounted placement of shares, aiming to raise HKD 207 million [3]

事件：2025年7月7日，宜春市自然资源局发布通知，要求8家涉锂矿山企业于9月30日前完成矿种变更储量 核实报告编制。起因是国家审计署指出这些矿权存在越权审批问题，将含锂矿以"陶瓷土矿"名义办理手续，需通过科 学论证重新确定主矿种。 7.14日碳酸锂早盘现货价格6.465万元/吨，较昨日+1.4%，LC2509（主力）6.63万元，涨幅+3.4% 点评： 1. 短期不影响生产：上市公司反馈，此为长期规范性文件，对公司目前的生产经营没有影响。930之 前完成报告编制则影响最小。 2. 长期成本抬升，强化价格支撑： 若判定为锂矿，审批层级上移，重新办理采矿证，企业有停产风险；此 外开采需按锂矿标准缴纳权益金，追溯补缴差价等，江西云母提锂的边际成本中枢将上移，为远期锂价提供更强支 撑。 3. 市场情绪催化看涨氛围：政策监管趋严， 审计署介入暴露地方审批漏洞，凸显国家对锂资源合规管控的 决心。供应不确定性溢价上升。 后续需紧密跟踪： 1）相关矿山实际停产情况；2）矿种认定结果及补缴细则；3）其他锂资源大省是否会跟 进类似审查。 往期推荐 主机厂电芯采购：兼顾性能和成本 比亚迪出海：发力东南亚 涉及公司：宜春时代新能源 ...

Core Viewpoint - The company Zhongke Electric is expected to report significant profit growth for the first half of 2025, driven by increased production capacity in lithium battery anode materials and rising demand in the new energy vehicle and energy storage markets [1][2]. Group 1: Financial Performance - The projected net profit attributable to shareholders is between 232 million to 301 million yuan, representing a year-on-year increase of 235% to 335% [1]. - The net profit after deducting non-recurring gains and losses is expected to be between 243 million to 313 million yuan, showing a year-on-year growth of 175% to 255% [1]. Group 2: Business Development - Zhongke Electric was established in 2004 and initially focused on electromagnetic metallurgy equipment, achieving over 60% market share in China [2]. - The company has shifted its strategy to include both organic growth and external expansion, entering the lithium battery anode materials sector through the acquisition of Hunan Xincheng Graphite Technology Co., Ltd. in 2017 [2]. Group 3: Technological Advancements - The company has developed a multi-layered technological barrier in the lithium battery anode materials sector, transitioning from price competition to value competition [4]. - Innovations in fast-charging anode materials have been achieved through various processes, and high-voltage fast-charging anode materials are now being applied in popular vehicle models [4]. Group 4: International Expansion - Zhongke Electric plans to invest up to 8 billion yuan in a lithium battery anode materials production base in Oman, with a production capacity of 100,000 tons per year [4]. - The project aims to leverage Oman's abundant energy resources and favorable international trade environment to enhance the company's global strategy and product exports [4].

Report Summary 1. Report Industry Investment Rating No information provided in the content. 2. Core Views of the Report - The market is affected by Trump's tariff policies, but the market's sensitivity to it has decreased. The proportion of medium - and long - term funds in the capital market is expected to gradually increase, and A - shares have high investment value in the medium and long term [3][9]. - Glass and soda ash are in the cycle of inventory digestion. The supply adjustment is deepening, and attention should be paid to the supply - demand digestion process [2][15]. - The prices of gold and silver may continue to be strong, but there are risks of Trump's threats being realized. Copper prices may fluctuate within a range, and zinc prices may have wide - range fluctuations [17][19][20]. - The prices of crude oil, methanol, and other energy - chemical products are affected by factors such as tariffs, supply - demand, and policies, with different trends [11][12]. - The prices of iron ore, steel, and other black commodities are expected to be strong in the short term, and the prices of coal and coke are affected by policies and demand [22][23][24]. - The prices of bean and rapeseed meal and oils are expected to be in a volatile pattern, and the price of shipping on the European container line is affected by market expectations [25][26][27]. 3. Summary by Relevant Catalogs 3.1 Key News - **International News**: The US regulatory authorities issued a blue - book on cryptocurrency custody. Trump will discuss tariffs with other countries and has announced new tariff policies [1][5]. - **Domestic News**: In the first half of 2025, China's foreign trade volume increased steadily, with exports growing by 7.2% and imports decreasing by 2.7%. The financial data in June were better than expected [6][7]. 3.2 Performance of External Markets - The S&P 500, T STOXX50, and other indices had different degrees of increase or decrease on July 14 compared with July 11. For example, the S&P 500 rose by 0.14%, and ICE Brent crude oil fell by 2.11% [8]. 3.3 Morning Comments on Main Varieties - **Financial Products** - **Stock Index**: The US three major indices rose, and the stock index fluctuated slightly. The proportion of medium - and long - term funds in the capital market is expected to increase, and A - shares have high investment value [3][9]. - **Treasury Bonds**: Treasury bond prices fluctuated greatly. The central bank will maintain a supportive monetary policy, and the market risk preference has increased [10]. - **Energy - Chemical Products** - **Crude Oil**: SC crude oil fell at night. Trump's tariff policies and OPEC's production - increase plan have increased the uncertainty of oil prices [11]. - **Methanol**: Methanol rose at night. The inventory of coastal methanol increased, and the short - term trend was slightly bullish [12]. - **Polyolefins**: Polyolefins were in a consolidation phase. The cost support weakened, and attention should be paid to the supply contraction during the summer equipment maintenance [14]. - **Glass and Soda Ash**: Glass and soda ash futures rebounded. The supply adjustment was deepening, and attention should be paid to the supply - demand digestion process [2][15]. - **Rubber**: The price of natural rubber was affected by climate and supply - demand. The short - term upward space was limited, and there might be a callback [16]. - **Metals** - **Precious Metals**: The prices of gold and silver rose and then fell. The short - term trend was affected by Trump's tariff policies and the Fed's interest - rate cut expectations [17]. - **Copper**: The copper price fell at night. The copper price might fluctuate within a range under the influence of multiple factors [18][19]. - **Zinc**: The zinc price fell at night. The short - term zinc price might have wide - range fluctuations [20]. - **Lithium Carbonate**: The supply of lithium carbonate decreased weekly, and the demand increased slightly. The overall market was in a volatile pattern [4][21]. - **Black Commodities** - **Iron Ore**: The iron ore price was expected to be strong in the short term. The demand was supported, and the supply might increase in the second half of the year [22]. - **Steel**: The steel price was expected to be strong in the short term. The supply - demand contradiction was not significant, and the cost was rising [23]. - **Coking Coal and Coke**: The prices of coking coal and coke were affected by policies and demand. The supply pressure still existed [24]. - **Agricultural Products** - **Bean and Rapeseed Meal**: The prices of bean and rapeseed meal were in a strong - side volatile pattern. The US soybean production and demand data were adjusted, and the final inventory increased [25]. - **Oils**: The prices of oils were in a strong - side volatile pattern. The demand for palm oil was strong, and the overall market was in a volatile pattern [26]. - **Shipping Index** - **Container Shipping on the European Line**: The price of shipping on the European container line was in a volatile pattern. The market was still gambling on the peak - season price space, and attention should be paid to the release of August shipping prices [27].

Core Viewpoint - The article discusses the current state and future outlook of the ternary precursor market in China and globally, highlighting a decline in production and the competitive landscape influenced by demand for high-nickel materials and the supply chain dynamics led by major companies like CATL [2][6]. Group 1: Production Data - In the first half of 2025, China's ternary precursor production was 405,000 tons, a year-on-year decrease of 7.3%, while global production was 463,000 tons, down 6.8% [2]. - The demand for medium-nickel high-voltage materials is primarily driven by the domestic market, significantly influenced by the supply chain of CATL [4]. Group 2: Market Competition - Domestic companies hold a global market share of 87.6%, showing a slight year-on-year decline due to increased precursor capacity in South Korea [6]. - Companies like Hunan Bangpu and Lanzhou Jintong have seen significant order increases due to the growing demand from CATL, with strong growth in the first half of the year [6]. Group 3: Future Outlook - The focus for terminal demand in the second half of the year will remain on medium-nickel high-voltage and high-nickel materials, with expectations for production and sales growth from relevant companies [7]. - New precursor capacities, particularly in South Korea, are anticipated to come online in the second half of the year, with LG Chem's announcement of mass production of non-precursor cathodes also being noteworthy for future market penetration [7].

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1. Report Industry Investment Ratings - No industry investment ratings are provided in the reports. 2. Core Views Copper - After the 232 investigation is finalized, the electrolytic copper in non - US regions shows a pattern of "looser supply expectation and weaker actual demand", and the spot contradiction will be gradually resolved. The copper price may return to macro trading, and the negotiation of reciprocal tariffs between China and the US will also disrupt the copper price. The main contract should focus on the support level of 78,000 [1]. Aluminum - For alumina, the short - term price is supported by the supply tightness expectation of bauxite in Guinea and the low inventory of alumina futures warehouse receipts. However, the high - capacity operation situation remains unchanged, and the market is slightly oversupplied. The price of the main contract is expected to fluctuate widely between 2950 - 3250 this week. For aluminum, although the domestic consumption stimulus supports the price, the weakening expectation of the Fed's interest rate cut and tariff uncertainties are short - term negatives. The price of the main contract is expected to face pressure at high levels this week, with a reference range of 20,000 - 20,800 [3]. Aluminum Alloy - The recycled aluminum market maintains a pattern of weak supply and demand, with more prominent demand - side contradictions. The subsequent weak demand will continue to suppress the upward momentum of prices. The disk is expected to fluctuate weakly, with the main contract running between 19,400 - 20,200 [4]. Zinc - The supply of zinc ore is expected to be loose, but the output growth rate of domestic mines in June fell short of expectations, which supports the price. The supply of refined zinc is expected to be loose, while the demand is marginally weak. In the long - term, if the mine growth rate is lower than expected and downstream consumption performs better than expected, the zinc price may maintain a high - level shock pattern; otherwise, the price center may move down. The main contract reference range is 21,500 - 23,000 [8]. Nickel - Macro uncertainties increase, and the nickel fundamentals change little. The cost support of refined nickel has weakened, and the medium - term supply is expected to be loose, which restricts the upward space of the price. The short - term disk is expected to adjust within a range, with the main contract reference range of 118,000 - 126,000 [11]. Tin - The actual supply of tin ore remains tight, and the demand is expected to be weak. Short - term macro fluctuations are large, and previous high - level short positions should be held [14]. Stainless Steel - There are macro uncertainties, and the fundamentals still face pressure. The low - level nickel - iron price weakens the cost support, the supply - side production cut is less than expected, and the overall demand is weak. The short - term disk will fluctuate, with the main contract running between 12,500 - 13,000 [16]. Lithium Carbonate - In the short - term, the fundamentals still face pressure, and the excess supply may intensify. The disk is in a game between sentiment and fundamentals. The short - term disk is expected to run in a relatively strong range, with the main contract running between 63,000 - 68,000, while there is still downward risk in the medium - term [20]. 3. Summaries by Relevant Catalogs Price and Basis - **Copper**: SMM 1 electrolytic copper price dropped to 78,455 yuan/ton, with a daily decline of 0.34%. The SMM 1 electrolytic copper premium/discount was - 20 yuan/ton, up 5 yuan/ton from the previous day [1]. - **Aluminum**: SMM A00 aluminum price dropped to 20,470 yuan/ton, with a daily decline of 1.54%. The SMM A00 aluminum premium/discount was 10 yuan/ton, down 70 yuan/ton from the previous day [3]. - **Aluminum Alloy**: The price of SMM aluminum alloy ADC12 dropped to 20,000 yuan/ton, with a daily decline of 0.50% [4]. - **Zinc**: SMM 0 zinc ingot price dropped to 22,180 yuan/ton, with a daily decline of 1.11%. The premium/discount was 30 yuan/ton, down 10 yuan/ton from the previous day [8]. - **Nickel**: SMM 1 electrolytic nickel price dropped to 121,750 yuan/ton, with a daily decline of 0.33%. The 1 Jinchuan nickel premium/discount dropped to 1,950 yuan/ton, with a daily decline of 2.50% [11]. - **Tin**: SMM 1 tin price dropped to 266,500 yuan/ton, with a daily decline of 0.07%. The SMM 1 tin premium/discount remained unchanged at 700 yuan/ton [14]. - **Stainless Steel**: The price of 304/2B (Wuxi Hongwang 2.0 coil) rose to 12,800 yuan/ton, with a daily increase of 0.39% [16]. - **Lithium Carbonate**: The average price of SMM battery - grade lithium carbonate rose to 64,650 yuan/ton, with a daily increase of 1.41%. The basis (based on SMM battery - grade lithium carbonate) dropped to - 2070 yuan/ton, with a daily increase of 168.83% [20]. Month - to - Month Spreads - **Copper**: The spread between 2507 - 2508 was 50 yuan/ton, down 90 yuan/ton from the previous day [1]. - **Aluminum**: The spread between 2507 - 2508 was 140 yuan/ton, up 70 yuan/ton from the previous day [3]. - **Aluminum Alloy**: The spread between 2511 - 2512 was 90 yuan/ton, up 25 yuan/ton from the previous day [4]. - **Zinc**: The spread between 2507 - 2508 was - 70 yuan/ton, down 25 yuan/ton from the previous day [8]. - **Nickel**: The spread between 2508 - 2509 was - 120 yuan/ton, down 10 yuan/ton from the previous day [11]. - **Tin**: The spread between 2507 - 2508 was 130 yuan/ton, up 340 yuan/ton from the previous day [14]. - **Stainless Steel**: The spread between 2508 - 2509 was - 20 yuan/ton, down 170 yuan/ton from the previous day [16]. - **Lithium Carbonate**: The spread between 2508 - 2509 was 240 yuan/ton, unchanged from the previous day [20]. Fundamental Data - **Copper**: In June, the electrolytic copper output was 1.1349 million tons, a month - on - month decrease of 0.30%. In May, the import volume was 253,100 tons, a month - on - month increase of 1.23% [1]. - **Aluminum**: In June, the alumina output was 7.2581 million tons, a month - on - month decrease of 0.19%. The electrolytic aluminum output was 3.609 million tons, a month - on - month decrease of 3.22%. In May, the import volume was 250,500 tons, and the export volume was 10,000 tons [3]. - **Aluminum Alloy**: In June, the recycled aluminum alloy ingot output was 615,000 tons, a month - on - month increase of 1.49%. The primary aluminum alloy ingot output was 255,000 tons, a month - on - month decrease of 2.30%. In May, the import volume of unforged aluminum alloy ingots was 97,000 tons, and the export volume was 24,200 tons [4]. - **Zinc**: In June, the refined zinc output was 585,100 tons, a month - on - month increase of 6.50%. In May, the import volume was 26,700 tons, and the export volume was 1,400 tons [8]. - **Nickel**: In June, China's refined nickel output was 31,800 tons, a month - on - month decrease of 10.04%. The import volume of refined nickel was 19,157 tons, a significant increase compared to the previous month [11]. - **Tin**: In May, the tin ore import volume was 13,449 tons, a month - on - month increase of 36.39%. The SMM refined tin output was 14,840 tons, a month - on - month decrease of 2.37% [14]. - **Stainless Steel**: In April (43 companies), the output of Chinese 300 - series stainless steel crude steel was 1.7133 million tons, a month - on - month decrease of 3.83%. The import volume was 125,100 tons, and the export volume was 436,300 tons [16]. - **Lithium Carbonate**: In June, the lithium carbonate output was 78,090 tons, a month - on - month increase of 8.34%. The demand was 93,815 tons, a slight month - on - month decrease [20].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - On July 14, the current - month contracts of the four major stock index futures showed mixed trends. IF fell 0.29%, IH fell 0.46%, IC fell 0.3%, and IM fell 0.2% [1]. - On the trading day, the total trading volume of stock index futures declined, indicating a cooling of investors' trading enthusiasm. The total trading volume of IF, IH, IC, and IM decreased by 83,463 lots, 49,239 lots, 57,299 lots, and 134,671 lots respectively. The total positions of IF, IH, IC, and IM decreased by 19,160 lots, 14,582 lots, 14,672 lots, and 28,320 lots respectively [1][2]. - The trend strength of IF and IH is 1, and that of IC and IM is also 1. The central bank's data shows that the effect of monetary policy in supporting the real economy is obvious [6]. 3. Summary by Relevant Catalogs 3.1. Stock Index Futures Data Tracking - **IF Contracts**: The closing prices of IF2507, IF2508, IF2509, and IF2512 were 4009, 3995.4, 3985.8, and 3955.2 respectively, with declines of 0.29%, 0.30%, 0.33%, and 0.41%. The trading volumes decreased by 25,073 lots, 2028 lots, 47,192 lots, and 9170 lots respectively, and the positions changed by - 12,573 lots, + 2405 lots, - 8205 lots, and - 787 lots respectively [1]. - **IH Contracts**: The closing prices of IH2507, IH2508, IH2509, and IH2512 were 2751.8, 2748.6, 2747.4, and 2750 respectively, with declines of 0.46%, 0.53%, 0.50%, and 0.48%. The trading volumes decreased by 13,916 lots, 1026 lots, 30,394 lots, and 3903 lots respectively, and the positions changed by - 6696 lots, + 221 lots, - 7554 lots, and - 553 lots respectively [1]. - **IC Contracts**: The closing prices of IC2507, IC2508, IC2509, and IC2512 were 6008.4, 5951.4, 5897.6, and 5774.6 respectively, with declines of 0.30%, 0.36%, 0.39%, and 0.43%. The trading volumes decreased by 20,355 lots, 1770 lots, 25,404 lots, and 9770 lots respectively, and the positions changed by - 13,063 lots, + 3845 lots, - 4713 lots, and - 741 lots respectively [1]. - **IM Contracts**: The closing prices of IM2507, IM2508, IM2509, and IM2512 were 6442.2, 6373.4, 6302.2, and 6120.8 respectively, with declines of 0.20%, 0.29%, 0.30%, and 0.28%. The trading volumes decreased by 31,955 lots, 6153 lots, 75,947 lots, and 20,616 lots respectively, and the positions changed by - 14,229 lots, + 6035 lots, - 13,493 lots, and - 3322 lots respectively [1]. 3.2. Positions of the Top 20 Members - For IF contracts, in IF2507, long - orders decreased by 9620 lots with a net change of - 14,538 lots, and short - orders decreased by 10,048 lots with a net change of - 15,421 lots [5]. - For IH contracts, in IH2507, long - orders decreased by 5448 lots with a net change of - 12,265 lots, and short - orders decreased by 6088 lots with a net change of - 12,841 lots [5]. - For IC contracts, in IC2507, long - orders decreased by 9785 lots with a net change of - 11,634 lots, and short - orders decreased by 10,069 lots [5]. - For IM contracts, in IM2507, long - orders decreased by 10,792 lots with a net change of - 20,778 lots, and short - orders decreased by 10,998 lots with a net change of - 19,506 lots [5]. 3.3. Important Drivers - In the first half of the year, RMB loans increased by 12.92 trillion yuan, deposits increased by 17.94 trillion yuan, and the incremental social financing scale was 22.83 trillion yuan, 4.74 trillion yuan more than the same period last year. The central bank said the effect of monetary policy in supporting the real economy was obvious [6]. - The central bank's deputy governor said that the monetary policy is moderately loose, and the policy state is supportive with accumulated effects. Since 2020, the central bank has cut the reserve requirement ratio 12 times and the policy interest rate 9 times [7]. 3.4. Market Performance - The Shanghai Composite Index rose 0.27%, the Shenzhen Component Index fell 0.11%, and the ChiNext Index fell 0.45%. A - share trading volume was 1.48 trillion yuan, down from 1.74 trillion yuan the previous day [7]. - The U.S. three major stock indexes rose slightly. The Dow rose 0.2%, the S&P 500 rose 0.14%, and the Nasdaq rose 0.27%. The Nasdaq set a new closing record [8].

Monetary Policy and Economic Indicators - The People's Bank of China will conduct a buyout reverse repurchase operation of 1.4 trillion yuan on July 15, 2025 [1] - As of the end of June, M2 (broad money) increased by 8.3% year-on-year, reaching 330.29 trillion yuan, while M1 (narrow money) grew by 4.6% to 113.95 trillion yuan [2] - The cash in circulation (M0) reached 13.18 trillion yuan, with a year-on-year growth of 12% [2] Green Finance Initiatives - The People's Bank of China, along with financial regulatory authorities, issued the "Green Finance Support Project Directory (2025 Edition)" to enhance liquidity in the green finance market and improve asset management efficiency [2] Corporate Earnings Forecasts - Vanke A expects a net loss of 10 billion to 12 billion yuan for the first half of 2025, with a basic loss per share of 0.8433 to 1.01 yuan [4] - Yonghui Supermarket anticipates a net loss of 240 million yuan for the first half of 2025, impacted by the closure of 227 underperforming stores [5] - Longi Green Energy forecasts a net loss of 2.4 billion to 2.8 billion yuan, although it expects to reduce losses compared to the previous year [6] - Hengsheng Electronics projects a net profit of approximately 251 million yuan, a 741% increase year-on-year [7] - Wintime Technology expects a net profit of 390 million to 585 million yuan, representing a growth of 178% to 317% [8] - ST Huatuo anticipates a net profit of 2.4 billion to 3 billion yuan, a year-on-year increase of 107.2% to 159% [9] - Tianqi Lithium expects a net profit of 0 to 1.55 billion yuan, recovering from a loss of 5.206 billion yuan in the previous year [10] - Ganfeng Lithium forecasts a net loss of 300 million to 550 million yuan, compared to a loss of 760 million yuan in the same period last year [11] - Liyi Intelligent Manufacturing expects a net profit of 900 million to 1.14 billion yuan, a growth of 31.57% to 66.66% [12] - CICC anticipates a net profit of 3.453 billion to 3.966 billion yuan, a year-on-year increase of 55% to 78% [13] - Shenwan Hongyuan projects a net profit of 4.1 billion to 4.5 billion yuan, a growth of 92.66% to 111.46% [14] - Shandong Gold expects a net profit of 2.55 billion to 3.05 billion yuan, an increase of 84.3% to 120.5% year-on-year [15] - Huahong Technology anticipates a net profit of 70 million to 85 million yuan, a significant increase from 2.224 million yuan in the previous year [16] Corporate Actions and Legal Matters - Suzhou Planning intends to acquire 100% of Beijing Dongjin Aviation Technology Co., Ltd., with stock resuming trading on July 15, 2025 [17] - BOE Technology Group plans to appeal the preliminary ruling from the US International Trade Commission regarding trade secrets and has initiated a patent lawsuit against Samsung Display [18]