Core Points - A block trade of 8.58 million shares of Greeenmei occurred on September 18, with a transaction amount of 64.0068 million yuan and a transaction price of 7.46 yuan, representing a premium of 0.13% over the closing price of the day [2] - Over the past three months, Greeenmei has recorded a total of three block trades, with a cumulative transaction amount of 70.497 million yuan [2] - On the same day, Greeenmei's closing price was 7.45 yuan, down 1.84%, with a turnover rate of 4.42% and a total transaction amount of 1.692 billion yuan, indicating a net outflow of 102 million yuan in main funds [2] Trading Data Summary - Block trade details: - Volume: 8.58 million shares - Amount: 64.0068 million yuan - Price: 7.46 yuan - Premium: 0.13% over the closing price - Buyer: Southwest Securities Co., Ltd. Shaanxi Branch - Seller: China Post Securities Co., Ltd. Xi'an Kaiyuan Road Securities Branch [2] Financing Data - The latest financing balance for Greeenmei is 2.184 billion yuan, with a decrease of 5.483 million yuan over the past five days, reflecting a decline of 0.25% [2]

人民财讯9月18日电，富临精工（300432）9月18日公告，公司控股子公司江西升华新材料有限公司与宁 德时代（300750）签订《预付款协议》，宁德时代向江西升华支付共计15亿元预付款，用于锁定江西升 华向宁德时代承诺磷酸铁锂供应量，并支持江西升华布局原材料建设。此协议深化了双方在磷酸铁锂材 料领域的战略合作，预计对公司经营业绩产生积极影响。 ...

期货研究院 新能源产业链日度策略 New Energy Industry Chain daily Report 能源化工团队|有色贵金属与新能源团队 | 作者： | 魏朝明 | | --- | --- | | 从业资格证号： | F3077171 | | 投资咨询证号： | Z0015738 | | 联系方式： | 010-68578971 | | 作者： | 胡彬 | | 从业资格证号： | F0289497 | | --- | --- | | 投资咨询证号： | Z0011019 | | 联系方式： | 010-68576697 | 投资咨询业务资格：京证监许可【2012】75号 成文时间：2025年09月16日星期二 更多精彩内容请关注方正中期官方微信 摘要 碳酸锂： 【市场逻辑】 现货方面，周二SMM电池级碳酸锂指数价格72835元/吨，环比上 一工作日上涨455元/吨；电池级碳酸锂7.19-7.38万元/吨，均价7. 285万元/吨，环比上一工作日上涨400元/吨；工业级碳酸锂7-7.1 2万元/吨，均价7.06万元/吨，环比上一工作日上涨400元/吨，现 货成交价格重心呈震荡上行态势。 碳酸锂期货 ...

Group 1 - The company held its second extraordinary general meeting of shareholders on September 16, 2025, with no resolutions being rejected [2][4] - The meeting was chaired by Chen Weixin, as the chairman Wang Cheng was unable to attend due to work commitments [2][3] - All current directors and supervisors attended the meeting, with a total of 9 directors and 3 supervisors present [3] Group 2 - The meeting approved several key resolutions, including changes to registered capital, the dissolution of the supervisory board, and amendments to the company's articles of association [4][5] - A total of 12 proposals related to internal control systems and management regulations were passed, including revisions to the independent director work system and the establishment of a compensation management system for directors and senior management [5][6] Group 3 - The meeting's proceedings were witnessed by lawyers from Shanghai Guangfa Law Firm, confirming that the meeting complied with relevant laws and regulations [7] - The company announced the resignation of director Duan Yunfang, who will continue to serve in another capacity as an employee representative director [11][12] - Duan Yunfang was re-elected as an employee representative director during the employee representative assembly held on September 16, 2025 [12][13]

Core Viewpoint - The Hong Kong stock market experienced significant net selling from northbound capital, totaling HKD 31.89 billion on September 16, with the majority coming from the Shanghai-Hong Kong Stock Connect [1] Group 1: Northbound Capital Flow - Northbound capital had a net selling of HKD 29.76 billion through the Shanghai Stock Connect and HKD 2.13 billion through the Shenzhen Stock Connect [1] - The stocks with the highest net buying included Alibaba-W (09988), Meituan-W (03690), and Baize Medical (02609) [1] - The stocks with the highest net selling included the Tracker Fund of Hong Kong (02800), Xiaomi Group-W (01810), and SMIC (00981) [1] Group 2: Individual Stock Performance - Alibaba-W (09988) saw a net inflow of HKD 30.31 billion, supported by recent announcements related to its mapping service and AI developments [4] - Meituan-W (03690) recorded a net inflow of HKD 7.15 billion, bolstered by the successful launch of its international delivery brand Keeta in Kuwait [5] - Baize Medical (02609) and Tongyuan Kang Medical-B (02410) received net inflows of HKD 3.27 billion and HKD 2.96 billion, respectively, following regulatory changes that enhance the clinical trial approval process for innovative drugs [5] Group 3: Notable Net Selling - The Tracker Fund of Hong Kong (02800) faced a significant net outflow of HKD 46.38 billion, with analysts suggesting that while short-term interest rates may benefit the Hong Kong market, the overall outlook remains cautious due to weakening fundamentals [7] - Xiaomi Group-W (01810), SMIC (00981), and Tencent (00700) experienced net outflows of HKD 5.69 billion, HKD 4.12 billion, and HKD 3.86 billion, respectively [8]

1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Core Viewpoints of the Report - The lithium salt market is currently experiencing strong supply and demand. With the peak demand season and pre - National Day restocking by downstream enterprises, the short - term inventory depletion trend is expected to accelerate. Downstream enterprises are advised to seize futures buy - hedge opportunities according to their risk management needs [3][5]. - The industrial silicon market shows a situation of weak reality and strong policy expectations. The supply is steadily increasing, and the demand is driven by polysilicon. The price is in a stalemate, and the futures price fluctuates greatly. It is recommended to take an interval trading approach and consider taking profits on long positions at high prices [6]. - The polysilicon market has a supply - strong and demand - weak fundamental pattern. Although the overseas demand for battery cells is good, the market is still in a state of oversupply. The price operation logic depends on future policy clarity and implementation. It is advisable to consider buying on dips and participating with a light position [7]. 3. Summary by Relevant Catalogs First Part: Spot Prices a. Plate Strategy Recommendation - For lithium carbonate 11, it is expected to run in a wide - range oscillation. Upstream enterprises should seize high - price selling - hedge opportunities, and downstream cathode material enterprises should pay attention to low - price stockpiling or buying - hedge opportunities. The support level is 68,000 - 70,000, and the pressure level is 80,000 - 82,000 [13]. - For industrial silicon 11, it is expected to oscillate within an interval. It is recommended to use an interval trading approach and preferably sell slightly out - of - the - money put options at low prices. The support level is 8,200 - 8,300, and the pressure level is 8,900 - 9,000 [13]. - For polysilicon 11, it is expected to oscillate at a high level. It is advisable to consider buying on dips and participating with a light position. The support level is 51,000 - 52,000, and the pressure level is 56,000 - 57,000 [13]. b. Futures and Spot Price Changes | Variety | Closing Price | Daily Change Rate | Trading Volume | Open Interest | Open Interest Change | Warehouse Receipts | | --- | --- | --- | --- | --- | --- | --- | | Lithium Carbonate | 72,680 | 2.14% | 482,790 | 309,446 | 44 | 38,963 | | Industrial Silicon | 8,800 | 0.63% | 498,210 | 290,948 | 12,960 | 49,905 | | Polysilicon | 53,545 | - 0.34% | 237,981 | 132,212 | - 2,686 | 7,850 | [14] Second Part: Fundamental Situation a. Lithium Carbonate Fundamental Data - **Production and Inventory Situation**: Last week, the lithium carbonate production was 19,963 tons, close to the weekly production record high. All lithium - extraction processes saw an increase in production. The total sample inventory was 138,512 tons, a decrease of 1,580 tons from the previous week. The inventory is still at a high level, but the inventory of lithium salt enterprises is shifting downstream, and the downstream inventory has reached a new high [4]. - **Downstream Situation**: Downstream material factories are generally in a cautious and wait - and - see attitude. During the peak demand season, there is a certain demand for pre - National Day stockpiling, and the purchase willingness is relatively strong when the price is low [3]. b. Industrial Silicon Fundamental Data - **Production and Inventory Situation**: The supply of industrial silicon is steadily increasing, mainly due to the increase in furnace starts in the northwest region. The inventory has been in a high - level consolidation state since August [6]. - **Downstream Situation**: The polysilicon industry has a strong price - support intention, with some enterprises starting to stockpile materials, while the organic silicon and aluminum alloy industries perform generally, with downstream enterprises restocking as needed [6]. c. Polysilicon Fundamental Data - **Production and Inventory Situation**: In September, the polysilicon production remained at a high level, and the supply was continuously abundant. There was a slight inventory accumulation this week [7]. - **Downstream Situation**: The overseas demand for battery cells is good, but the overall market is still in a state of oversupply. Pulling - crystal factories are resistant to high - price silicon materials and mainly purchase as needed [7].

Group 1 - Core viewpoint: Xuzhou Rural Commercial Bank focuses on technology finance to support the development needs of technology-based enterprises [1][3] - The bank's Qianshan branch identifies funding pain points for technology companies in R&D, equipment upgrades, and market expansion, providing strong financial support for technological breakthroughs and industrial upgrades [1] - Jiangsu Longwei New Energy Materials Co., Ltd. received a financing solution of 10 million yuan for equipment investment, leading to a doubling of production capacity and reduced costs [1] Group 2 - Xuzhou Mechanical Technology Co., Ltd. benefited from a 5 million yuan credit increase, enabling full-capacity operation and strong growth momentum [2] - The bank established a green channel mechanism to improve financing efficiency, reducing average loan processing time to 5 working days [2] - A total of 1.8 billion yuan was financed to 26 technology enterprises, with 80% being first-time borrowers, effectively broadening financing pathways [2] Group 3 - The practices of Qianshan branch reflect Xuzhou Rural Commercial Bank's commitment to developing technology finance as a key service area [3] - The bank aims to provide more precise products, efficient services, and broader platforms to support the growth of technology-based enterprises [3] - The initiative is part of a broader strategy to inject stronger development momentum into local economic growth [3]

Core Viewpoint - ExxonMobil is strategically transitioning from a traditional oil giant to a player in the renewable energy sector by acquiring the Superior Graphite battery materials plant in Hopkinsville, Kentucky, aiming for commercial production of synthetic graphite by 2029. This move reflects the broader trend of energy giants expanding into the battery materials supply chain to adapt to the changing energy structure [4][5]. Group 1: Market Demand and Supply Chain - The demand for high-performance battery materials is experiencing explosive growth due to the continuous increase in global electric vehicle (EV) sales and the rapid expansion of the energy storage market. Synthetic graphite, as a core material for lithium-ion battery anodes, significantly impacts battery performance, including charge/discharge speed, cycle life, and energy density. It is expected that synthetic graphite will account for over 30% of total graphite demand in the next five years [4][5]. - The U.S. government has implemented policies to promote the development of the domestic renewable energy supply chain, particularly in critical mineral resources, reducing reliance on foreign supplies. ExxonMobil's acquisition allows for the establishment of a stable domestic supply of synthetic graphite, enhancing its influence in the renewable energy supply chain [5]. Group 2: Technological and Strategic Developments - Synthetic graphite offers advantages such as high electrical conductivity, good cycling stability, and longer lifespan compared to natural graphite. ExxonMobil plans to utilize by-products from its refineries and proprietary materials for synthetic graphite production, which can enable faster charging, longer range, and higher cycle life, making it suitable for high-end electric vehicles and large-scale energy storage systems [5][6]. - ExxonMobil is also advancing in the lithium resource sector with its direct lithium extraction (DLE) technology in Arkansas, aiming to improve lithium resource acquisition efficiency and environmental friendliness. The company has signed a non-binding lithium supply agreement with LG Chem to supply up to 100,000 tons of lithium from its Arkansas project [5][6]. Group 3: Investment and Industry Trends - By integrating its graphite and lithium businesses, ExxonMobil aims to cover the upstream core segments of the battery materials supply chain, creating a closed-loop system from raw material extraction to high-performance anode material supply, preparing for the rapid expansion of the EV and energy storage markets. The company plans to invest $30 billion (approximately 213.6 billion RMB) in battery materials and low-carbon technologies from 2025 to 2030 [6]. - The global graphite production sector is facing dual pressures of technological upgrades and capacity expansion. ExxonMobil must navigate challenges such as technological barriers, production costs, raw material stability, and uncertainties in the global supply chain [6].

Investment - The article discusses various investment opportunities in new materials, semiconductors, and renewable energy sectors, highlighting the growing demand and technological advancements in these areas [1][3][4]. Semiconductor - It emphasizes the importance of semiconductor materials such as photolithography, electronic special gases, and silicon wafers, which are critical for the production of advanced electronic devices [1][3]. - The report outlines the trends in third-generation semiconductors, including silicon carbide and gallium nitride, which are expected to drive future growth [1][3]. New Energy - The article covers the advancements in new energy technologies, particularly lithium batteries, solid-state batteries, and hydrogen energy, indicating a shift towards sustainable energy solutions [1][3]. - It highlights the role of electric vehicles and energy storage systems in the transition to renewable energy [1][3]. New Materials - The report details various new materials, including chemical new materials, adhesives, and high-performance ceramics, which are essential for various industrial applications [1][3]. - It discusses the potential of composite materials and their applications in lightweight and high-strength products [1][3]. Notable Companies - The article lists key players in the industry, such as ASML, TSMC, and Tesla, noting their contributions to technological innovation and market leadership [1][4]. - It mentions the significance of companies focusing on carbon neutrality and lightweight materials in their product offerings [1][4].

Group 1: Company Overview and Production Capacity - Yunnan Tianyuan Company has approximately 750 employees and produces calcium carbide, anthracite, and carbon anode materials, with an annual production capacity of 350,000 tons of calcium carbide and a 50,000 tons/year carbon electrode project in operation [1] - The company plans to produce 440,000 tons of caustic soda, 400,000 tons of PVC, 100,000 tons of chlorinated titanium dioxide, 64,000 tons of lithium iron phosphate, 30,000 tons of hydrazine hydrate, 837,000 tons of cement, and 29,700 tons of new material pipelines in 2025 [9] Group 2: Product Pricing and Market Conditions - The price of calcium carbide has decreased compared to the beginning of the year [1] - The company does not produce high-purity graphite, and there has been no price increase for hydrazine hydrate [2] Group 3: Business Collaborations and Future Plans - Yibin New Industry Investment Group participated in the company's 2023 private placement to support its development [2] - The company is advancing its two-year foundational plan and aims to complete capital investments as scheduled by the end of the year [2] - The company is focused on becoming a leading enterprise in the production and research of anode materials and related products, with a vision to create new power through technology [2] Group 4: Financial Performance and Market Strategy - The company is addressing declining profits by enhancing operational efficiency through precise management, "extreme manufacturing" projects, and optimizing marketing strategies [5] - The company is actively communicating with investors to convey its development strategy and enhance market confidence [7] Group 5: New Energy and Technological Development - The company is engaged in the development of lithium battery materials and aims to maintain stable growth in this sector despite market challenges [6] - The company is focusing on research and development of solid-state battery materials and has plans for future production [6] Group 6: Shareholder Engagement and Market Perception - The company has a shareholder return plan and has completed a share buyback as part of its market value enhancement efforts [7] - As of September 10, 2025, the company had approximately 51,000 shareholders [10]