1. Report Industry Investment Rating - No information regarding the report industry investment rating is provided in the content 2. Core Viewpoints of the Report - On May 29, 2025, the 2507 contract of lithium carbonate futures dropped 2.23% to 58,860 yuan/ton. The average price of battery - grade lithium carbonate decreased by 600 yuan/ton to 60,900 yuan/ton, and the average price of industrial - grade lithium carbonate also fell by 600 yuan/ton to 59,300 yuan/ton. The prices of battery - grade lithium hydroxide (coarse particles) and battery - grade lithium hydroxide (micronized powder) decreased by 400 yuan/ton each. The warehouse receipt inventory increased by 30 tons to 33,884 tons [3]. - Lithium ore prices continued to decline. The weekly output increased by 487 tons to 16,580 tons, with mica output increasing by 370 tons to 4,382 tons. Some enterprises plan to resume production in June, and the output is expected to increase further. On the demand side, the inventory of cathode materials has been continuously digested, especially the inventory turnover days of lithium iron phosphate have significantly decreased. The terminal sales are still strong, and the penetration rate remains high. The weekly inventory decreased by 208 tons to 131,571 tons, with downstream, intermediate, and upstream inventories all decreasing [3]. - The fundamentals are still bearish. However, from the capital side, the ratio of positions to inventory is deviated, and the current lithium carbonate price is basically at a relatively low level. The game between long and short positions has intensified price fluctuations [3]. 3. Summary by Relevant Catalogs 3.1 Research Views - Price changes: Futures, spot, and various lithium - related product prices showed a downward trend, while the price of battery - grade lithium hydroxide (CIF in China, Japan, and South Korea) remained unchanged. The price difference between battery - grade and industrial - grade lithium carbonate remained stable, while the price difference between battery - grade lithium hydroxide and battery - grade lithium carbonate increased by 200 yuan/ton [3][5]. - Supply and demand: Supply increased, and some enterprises plan to resume production in June. Demand showed a situation where cathode inventory was digested, the cell end slowed down, but terminal sales were strong [3]. - Inventory: The overall inventory decreased, with downstream, intermediate, and upstream inventories all showing a downward trend [3]. 3.2 Daily Data Monitoring - A detailed list of price changes of various products in the lithium - battery industry chain from May 28 to May 29, 2025, is provided, including futures, lithium ore, lithium carbonate, lithium hydroxide, lithium hexafluorophosphate, precursors, cathode materials, cells, and batteries [5]. 3.3 Chart Analysis - Ore prices: Charts show the price trends of lithium spodumene concentrate, lithium mica, and amblygonite from 2024 to 2025 [6][7][8]. - Lithium and lithium salt prices: Charts display the price trends of metallic lithium, battery - grade and industrial - grade lithium carbonate, battery - grade and industrial - grade lithium hydroxide, and lithium hexafluorophosphate from 2024 to 2025 [9][10][11]. - Price differences: Charts present the price differences between battery - grade lithium hydroxide and battery - grade lithium carbonate, battery - grade and industrial - grade lithium carbonate, and other relevant price differences from 2024 to 2025 [16][17][19]. - Precursors and cathode materials: Charts show the price trends of ternary precursors, ternary materials, lithium iron phosphate, lithium manganate, and lithium cobaltate from 2024 to 2025 [21][22][24]. - Lithium - battery prices: Charts display the price trends of 523 square ternary cells, square lithium iron phosphate cells, cobalt - acid lithium cells, and square lithium iron phosphate batteries from 2024 to 2025 [29][30][31]. - Inventory: Charts show the inventory trends of downstream, smelters, and other links from September 26, 2024, to May 15, 2025 [34][35][36]. - Production cost: A chart shows the production profit trends of lithium carbonate from different raw materials from 2024 to 2025 [38][39]

Core Viewpoint - CATL has signed a strategic cooperation agreement with the Lanzhou Municipal Government to enhance collaboration in three key areas: the construction of the new energy battery aftermarket, the electrification upgrade of all-domain transportation, and the establishment of a zero-carbon city ecosystem [2][4]. Group 1: Strategic Cooperation Areas - The partnership will focus on building a technology hub, leveraging CATL's global battery data and technology to create a new energy vehicle battery testing center in Lanzhou High-tech Zone, providing safety testing and secondary utilization services [4][6]. - CATL aims to improve the charging and swapping network in Lanzhou, promoting the electrification of public transport, heavy trucks, passenger vehicles, and two-wheelers, while exploring innovative scenarios such as the "Electric Yellow River" tourism project [4][6]. Group 2: Zero-Carbon City Ecosystem - The collaboration will involve integrating photovoltaic, energy storage, and intelligent management technologies to create zero-carbon parks and virtual power plants, as well as establishing a city-level integrated demonstration station for "light, storage, charging/swapping, and testing" [6]. - The parties will explore policies for retired battery recycling and jointly build a battery recycling system and collaborative processing base, aiming to form a closed-loop value chain for the entire lifecycle of batteries [6]. Group 3: Future Development - The ongoing strategic collaboration will focus on technological breakthroughs and innovative zero-carbon scenarios to cultivate new productive forces, ultimately transforming Lanzhou into a distinctive zero-carbon city in the northwest, setting a new benchmark for regional green and low-carbon development [6].

高倍率性能：充放电性能更优 该产品通过前驱体纳米化和体相掺杂等工艺，使得锂离子晶体结构更均匀、传输路径更短、迁 移速率更快和导电性能更好。从而实现了优秀的快速瞬间充放电性能，其1C充放电容量分别达 到1 6 0mAh / g以上和1 4 5mAh / g以上，较原有产品提升7 . 6%，高倍率性能特别适用于需要大马力 输出的重卡商用车市场。 -广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：常州锂能 LBM COMPANY NEWS 伴随着全球新能源市场的蓬勃发展，磷酸铁锂电池作为新能源汽车和储能系统的重要组 成部分，其性能和技术创新一直是电芯厂家关注的焦点。锂源科技始终致力于正极材料 的基础研究与技术创新。 近日，锂源在正极材料领域取得重要进展，正式发布了一款针 对低温和高倍率需求的正极材料新品——T2 4 6，这款产品不仅保留了铁锂1号产品在低温 性能方面的技术优势，更在倍率性能上实现了新的突破 ，标志着锂源科技在特定技术方 向上的持续探索将重新定义磷酸铁锂电池性能边界。 综合性能优：低温续航双兼顾 目前的动力电池市场，低温和续航一直是"鱼和熊 ...

Core Viewpoint - 中创新航 has entered into a joint venture agreement with Handan City Investment Group and Handan City Urban Operation Group to establish a new company with a registered capital of RMB 4 billion, marking a significant strategic move in its business expansion [6][7]. Group 1: Joint Venture Agreement - The joint venture will have a registered capital of RMB 4 billion, with 中创新航 holding 60% and contributing RMB 2.4 billion, while the Handan parties will hold 40% and contribute RMB 1.6 billion [6]. - The new company will be considered a subsidiary of 中创新航, and its financial performance will be consolidated into the group's financial statements [6]. Group 2: Recent Developments - On May 24, 中创新航 announced its involvement in the large-scale solar-storage integrated project in Latin America, specifically the Chile Tarapacá Aurora project, which is expected to deliver 600 GWh of renewable electricity annually [7]. - This project is one of the largest solar-storage projects in Latin America and aims to meet the annual electricity needs of 200,000 households, serving as a benchmark for energy transition in Chile [7]. - The project utilizes 中创新航's 314Ah Gen2.0 energy storage cells, which were first showcased at the 2025 Munich Energy Storage Exhibition, highlighting the company's global technology integration [7].

四大证券报内容精华摘要如下： 中国证券报 ·政策效应不断显现企业赴境外上市持续升温 宁德时代、恒瑞医药等A股龙头公司登陆港股，兆易创新、三一重工等多家行业领军企业纷纷宣布拟赴 港上市，晶澳科技等企业的境外上市H股备案申请获中国证监会接收……近段时间，境内企业赴境外上 市热潮涌动。市场人士认为，近期监管部门关于"进一步提高境外上市备案质效""继续支持符合条件的 科技企业利用境内境外资本市场规范发展""提升境内企业跨境融资便利化水平"等表态和举措，将为企 业境外上市提供更加透明、高效、可预期的监管环境，增强企业在全球市场的拓展能力。 ·并购重组逐渐升温关注四大投资方向 近期，随着市场持续震荡，题材板块快速轮动，并购重组板块持续活跃，多只股票5月以来大涨。分析 人士认为，新规有利于提升并购市场活跃度，当前新一轮并购重组行情已具备启动条件，建议关注并购 重组升级及产业逻辑共振下的市场机遇。中金公司研究部首席国内策略分析师李求索表示，根据本轮政 策的重点和近期并购重组趋势，建议投资者关注四大投资方向：第一，科创龙头做优做强。第二，传统 板块的产业整合趋势，结合历史数据，行业集中度偏低的领域，企业并购重组意愿相对较强。第 ...

其中，一期项目为年产 10 万吨锂离子电池电解液，产品将覆盖动力电池、储能电池与 3C 电池等多类电池应用场景 ，已于 2025 年 4 月中旬正式 投产。 电解液作为锂离子电池的核心材料之一，其性能直接影响电池的能量密度、安全性与循环寿命。 6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 西南锂电版图落下关键一子。 5 月 27 日，深圳新宙邦科技股份有限公司（下称 " 新宙邦 " ）位于重庆的全资子公司正式开业， 首期 10 万吨锂离子电池电解液项目已于 4 月中 旬投产。 当日，重庆新宙邦新材料有限公司（下称 " 重庆新宙邦 " ）在重庆举行开业典礼，来自 惠州亿纬锂能、蜂巢能源、欣旺达动力等电池产业链企业代 表 出席 ，共同见证项目落地。 重庆新宙邦项目是新宙邦 ...

Group 1 - The New Yu City Market Supervision Administration has implemented a "six-chain action" strategy to enhance the quality and development of key industrial chains, focusing on quality, standards, branding, intellectual property, government services, and regulatory enforcement [1][2][3] - The establishment of a one-stop service platform for quality infrastructure has led to the creation of seven service stations in various sectors, providing comprehensive technical consulting services to over 100 enterprises [1] - New Yu City is actively participating in the formulation of international and national standards, with key enterprises like Ganfeng Lithium and Jiangxi Sayi LDK leading the development of multiple standards [1][2] Group 2 - The brand promotion initiative aims to cultivate local brands and enhance competitive advantages, with five geographical indication trademarks currently registered and additional trademarks in the application process [2] - Intellectual property financing has been advanced through a triad mechanism of trademarks, patents, and copyrights, enabling Ganfeng Lithium to secure 570 million yuan in financing [2] - The "one license for all" reform has streamlined administrative processes, reducing processing time by over 80% and minimizing the need for paper documentation [2][3] Group 3 - The regulatory enforcement reform has consolidated inspections into a single visit per industry, reducing the frequency of checks and promoting a "no disturbance" approach to market operations [3] - The administration has adopted a more lenient regulatory framework, applying exemptions and reductions in penalties for 190 cases, fostering a more supportive environment for businesses [3]

21世纪经济报道记者曹恩惠 上海报道 晶澳太阳能科技股份有限公司（下称晶澳科技（002459），002459.SZ）发行H股事项有了进展。 根据该公司5月26日晚间发布的公告，中国证监会已于近日接收晶澳科技发行境外上市外资股（H股） 并在香港联交所挂牌上市的备案申请材料。这意味着，自今年2月份宣布筹划发行H股股票后，这家光 伏龙头距离实现"A+H"两地上市的规划再进一步。 根据21世纪经济报道记者不完全统计，多家A股新能源公司已经加入筹划"A+H"股两地上市阵营，这些 企业多来自光伏、锂电产业链。 且在今年5月，钧达股份、宁德时代（300750）（300750.SZ、03750.HK）先后港股挂牌，也让其他排 队的新能源企业坚定了筹划H股上市的步伐。 但业内人士指出，赴港股二次上市的新能源公司，一个重要诉求是实现合理估值。 "粮草"看似充足 晶澳科技缺钱吗？ 单从财务报表里的"货币资金"来看，似乎并不缺。 截至2025年一季度末，晶澳科技货币资金余额为255.54亿元，较2024年底还有所增加。 不过，晶澳科技在手现金的增加这源自于其借款的增多——自2024年一季度开始，该公司短期借款和长 期借款规模上升明显 ...

碳酸锂日报 碳酸锂日报（2025 年 5 月 27 日） 一、研究观点 二、日度数据监测 | | | 锂电产业链产品价格 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 指 标 | 单 位 | 2025-05-26 2025-05-23 | | 涨 跌 | | | 期 货 | 主力合约收盘价 | 元/吨 | 60100 | 60960 | -860 | | | | 连续合约收盘价 | 元/吨 | 60260 | 60980 | -720 | | | | 锂辉石精矿(6%,CIF中国) | 美元/吨 | 688 | 690 | -2 | | | | 锂云母（Li2O:1.5%-2.0%） | 元/吨 | 700 | 705 | -5 | | | 锂 矿 | 锂云母（Li2O:2.0%-2.5%） | 元/吨 | 1260 | 1280 | -20 | | | | 磷锂铝石（Li2O:6%-7%） | 元/吨 | 5975 | 6025 | -50 | | | | 磷锂铝石（Li2O:7%-8%） | 元/吨 | 6975 | 7050 | ...

往期推荐 比亚迪出海：发力东南亚 CATL ：储能 市场增长高于动力 加入社群 添加半仙微信，备注"进群"，邀请你加入锂电行业社群，获得行业最新动态、行业干货 报告和精准人脉。 本公众号基于分享的目的转载，转载文章的版权归原作者或原公众号所有，如有涉及侵权请及时告知，我们将予以核实并删除 主机厂电芯采购：兼顾性能和成本 ...