Core Viewpoint - Guoxuan High-Tech has completed testing for the Gyuanzhun solid-state battery and is currently conducting validation work based on specific customer requirements [1] Group 1: Battery Development - Multiple automotive companies are steadily conducting model tests for the Gyuanzhun solid-state battery, with high recognition of battery performance and test data from these companies [1] - The company has achieved pilot line establishment and internal vehicle road testing for the Jinshi all-solid-state battery in the first half of this year [1] - The design work for a 2GWh production line for the Jinshi all-solid-state battery is currently in progress [1] Group 2: Market Information - Specific vehicle installation information will be available through the Ministry of Industry and Information Technology's publication of the "Recommended Models for Promotion and Application of New Energy Vehicles" and updates from various automotive companies regarding new vehicle configurations [1]

格隆汇12月4日丨曼恩斯特(301325.SZ)在投资者互动平台表示，公司在固态电池领域已初步完成干湿法 双线产品布局，其中新型陶瓷材料、双螺杆高效分散、薄涂及双层共涂等技术均有创新优势。今年推出 的固态电池极片制造解决方案，将干法电极与固态电解质薄涂技术创新融合，可以有效控制前段制程良 率以及提高产品一致性，目前多款设备已顺利交付并获得客户认可。 ...

1. Report Industry Investment Rating - No relevant content provided. 2. Core Viewpoints - In November 2025, the futures price of lithium carbonate rebounded and closed positive. The spot price was 92,433 yuan/ton, and the futures price closed at 96,940 yuan/ton as of December 1, 2025, with a weakened basis and the spot at a discount to the futures [4]. - The registered warehouse receipts of lithium carbonate decreased by 18,629 lots compared to the end of October, while the futures open interest increased by 41,799 lots as of December 2, 2025 [8]. - In November 2025, the domestic monthly output of lithium carbonate continued to rise, with a month - on - month increase of 3% and a year - on - year increase of 49%. It is expected to keep growing in December, with a month - on - month increase of about 3%. The inventory is expected to continue to decline, but at a slower pace [12]. - In October 2025, China's lithium carbonate imports increased by 22% month - on - month and 3% year - on - year, while exports increased by 63% month - on - month but decreased by 18% year - on - year [15]. - In November 2025, China's lithium iron phosphate production increased by about 4.7% month - on - month and 44% year - on - year, and it is expected to remain at a high level in December [19]. - In November 2025, the domestic production of ternary precursors decreased by 5.32% month - on - month and 10.2% year - on - year. It is expected to decrease by 7.81% month - on - month and 4.55% year - on - year in December [23]. - In November 2025, the domestic production of ternary materials was basically flat, with a slight month - on - month decrease of 0.19% and a year - on - year decrease of 7.29%. It is expected to decrease by 6.73% month - on - month and 3.49% year - on - year in December [26]. - In October 2025, China's power and other battery production reached 170.6 GWh, with a month - on - month increase of 12.9% and a year - on - year increase of 50.5%. The cumulative production from January to October was 1292.5 GWh, with a cumulative year - on - year increase of 51.3% [29]. - In October 2025, China's power battery loading volume was 84.1 GWh, with a month - on - month increase of 10.7% and a year - on - year increase of 42.1%. The cumulative loading volume from January to October was 578.0 GWh, with a year - on - year increase of 42.4% [31]. - In October 2025, China's new energy vehicle production and sales reached 1.772 million and 1.715 million respectively, with year - on - year increases of 21.1% and 20%. The sales accounted for 51.6% of the total new car sales for the first time [35]. 3. Summary by Related Catalogs 3.1 Lithium Carbonate Price and Inventory - As of December 1, 2025, the spot price of lithium carbonate was 92,433 yuan/ton, the futures price was 96,940 yuan/ton, and the basis was - 4506 yuan/ton, showing a weakened basis and the spot at a discount to the futures [4]. - As of December 2, 2025, the number of registered warehouse receipts of lithium carbonate was 8992 lots, a decrease of 18,629 lots compared to the end of October, and the futures open interest was 552,239 lots, an increase of 41,799 lots compared to the end of October [8]. 3.2 Lithium Carbonate Production - In November 2025, the domestic monthly output of lithium carbonate continued to rise, with a month - on - month increase of 3% and a year - on - year increase of 49%. It is expected to keep growing in December, with a month - on - month increase of about 3% [12]. 3.3 Lithium Carbonate Import and Export - In October 2025, China's lithium carbonate import volume was 23,881 tons, a month - on - month increase of 22% and a year - on - year increase of 3%. The average import price was 64,000 yuan/ton, a month - on - month increase of 3.3%. The export volume was 246 tons, a month - on - month increase of 63% but a year - on - year decrease of 18% [15]. 3.4 Lithium Iron Phosphate Production - In November 2025, China's lithium iron phosphate production increased by about 4.7% month - on - month and 44% year - on - year, with an industry operating rate of about 73%. It is expected to remain at a high level in December [19]. 3.5 Ternary Precursor Production - In November 2025, the domestic production of ternary precursors decreased by 5.32% month - on - month and 10.2% year - on - year, and the industry average operating rate dropped slightly to 46.31%. It is expected to decrease by 7.81% month - on - month and 4.55% year - on - year in December [23]. 3.6 Ternary Material Production - In November 2025, the domestic production of ternary materials was basically flat, with a slight month - on - month decrease of 0.19% and a year - on - year decrease of 7.29%. The industry operating rate was stable at 54%. It is expected to decrease by 6.73% month - on - month and 3.49% year - on - year in December [26]. 3.7 Power Battery Production - In October 2025, China's power and other battery production reached 170.6 GWh, with a month - on - month increase of 12.9% and a year - on - year increase of 50.5%. The cumulative production from January to October was 1292.5 GWh, with a cumulative year - on - year increase of 51.3% [29]. 3.8 Power Battery Loading Volume - In October 2025, China's power battery loading volume was 84.1 GWh, with a month - on - month increase of 10.7% and a year - on - year increase of 42.1%. The cumulative loading volume from January to October was 578.0 GWh, with a year - on - year increase of 42.4% [31]. 3.9 Terminal Consumption (New Energy Vehicles) - In October 2025, China's new energy vehicle production and sales reached 1.772 million and 1.715 million respectively, with year - on - year increases of 21.1% and 20%. The sales accounted for 51.6% of the total new car sales for the first time [35].

两融数据显示，该股最新融资余额为215.74亿元，近5日增加8.89亿元，增幅为4.30%。（数据宝） 12月3日宁德时代大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营业部 | 卖方营 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | | 业部 | | 8.44 | 3174.12 | 376.08 | 0.00 | 中信证券股份有限公司北 | 机构专 | | | | | | 京分公司 | 用 | （文章来源：证券时报网） 进一步统计，近3个月内该股累计发生56笔大宗交易，合计成交金额为42.05亿元。 证券时报·数据宝统计显示，宁德时代今日收盘价为376.08元，下跌1.05%，日换手率为0.33%，成交额 为52.95亿元，全天主力资金净流出4.12亿元，近5日该股累计上涨0.87%，近5日资金合计净流出3.82亿 元。 宁德时代12月3日大宗交易平台出现一笔成交，成交量8.44万股，成交金额3174.12万元，大宗交易成交 价为376.08元。该笔交易的买方营业部为中信证券股份 ...

接下来，固态电池要回答"凭什么用你"的市场拷问。 摘要 亿航智能 副总裁 张宏 在先进空中交通发展领域,我们国家的政 策体系是最全面、最立体的。未来不是将 要到来,而是未来已经扑面而来。现在需 要的是产业链上下游抓住窗口期,共同将 蓝图变为现实。 深圳中基 研究院院长 王磊博士 全固态电池将把现有设备体系整体推 入重塑周期:新增设备约占20%,升 级设备约占30%,其余50% 需要重新 改造,这意味着原有工艺路线几乎要 从头再建。由于固态电解质的脆性特 征,卷绕难以继续适配,叠片加压成 为确保固固界面的唯一主线,这也让 软包封装重新回到舞台中央,短期内 甚至可能成为增长最快的封装形式。 需求的细分市场，以此作为成功的突破 i 中科深蓝汇泽 总经理 窦曦博士 中科深蓝汇泽最新一代65Ah聚合物固态电芯能量 密度已提升至约340Wh/kg，可实现全程8C放电与 10C瞬时放电。在热蔓延验证中,一只电芯被加热 至210°C触发热失控,而相邻电芯与其仅以3毫米 隔热垫分隔 -- 在这种极端近距离条件下,相邻电 芯外观保持完好,电压依旧维持满电。在更严苛的 模组内"20%电芯热失控"热蔓延实验中,五只 电芯仅用1毫米隔 ...

据香港交易所披露，摩根大通（JPMorgan）对宁德时代新能源科技股份有限公司 - H股的多头持仓比例 于2025年11月27日从7.41%增至7.8%。 ...

| 权益类证券大宗交易 (协议交易) | | --- | | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交星 | 成交全额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | | | | | 2025-12-03 | 300750 | 宁德时代 | 376.08 | 8.44 | 3,174.12中信证券股份有限 | | 机构专用 | | | | | | | | 公司北京分公司 | | 12月3日，宁德时代大宗交易成交8.44万股，成交额3174.12万元，占当日总成交额的0.6%，成交价376.08元，较市场收盘价 376.08元持平。 ...

每经记者｜黄鑫磊 每经编辑｜黄博文 12月3日，磷酸铁锂龙头龙蟠科技（SH603906，股价23.41元，市值160.38亿元）股价涨停，报23.41元/ 股，而在前一日收盘价为21.28元/股，涨幅达6.29%。 消息面上，12月2日，龙蟠科技公告称，公司控股孙公司LBM New Energy(AP)Pte.Ltd.（以下简称"锂源 亚太"）与Sunwoda Automotive Energy Technology(Thailand)Co.,Ltd.（以下简称"Sunwoda"）签署了《长 期采购协议》，预计将由锂源亚太自2026年至2030年间合计向Sunwoda销售10.68万吨符合双方约定规格 的磷酸铁锂正极材料，合同总销售金额为45亿至55亿元。 据披露，买方Sunwoda为欣旺达（SZ300207，股价29.16元，市值538.54亿元）旗下的泰国公司，由香港 欣旺达动力持股99%，欣旺达动力直接持股1%。Sunwoda主要从事锂离子电池、电池管理系统、能源管 理系统、电池管理系统和分销系统的制造、合同制造、包装、组装设计、分销、测试、研发，并提供售 后服务和技术援助等。 协议显示，锂源亚太与Su ...

Group 1 - The core point of the article is that CATL has successfully shipped its 587Ah large-capacity energy storage cell, achieving a milestone of 2GWh and is expected to reach 3GWh in total shipments this year, marking the commercial phase of the 587Ah cell [1] - The 587Ah cell has undergone iterations from 280Ah and 314Ah, and has been in development and testing for three years, achieving an initial energy conversion efficiency of 96.5% [1] - The production capacity at CATL's Jining base supports the daily output of over 220,000 units of the 587Ah cells, with a maximum production rate of over 120 units per minute, resulting in a production cost reduction of 42% [1] Group 2 - The safety failure rate of the 587Ah cell is at the PPB level (parts per billion), indicating a high level of reliability [1] - The company has developed a proprietary super wire technology that contributes to the efficiency and cost-effectiveness of the production process [1]

Core Viewpoint - The company has confirmed that its composite aluminum foil products are not currently used in a specific vehicle model, and the development of these products for semi-solid batteries is still ongoing [1] Group 1: Company Information - The company, Jie Mei Technology, has clarified on an investor interaction platform that its composite aluminum foil is not applied to the mentioned vehicle model [1] - The composite aluminum foil is still in the development phase for semi-solid batteries, indicating ongoing research and potential future applications [1] - The company is also collaborating with Qing Tao on developing composite aluminum foil systems for other non-automotive battery products [1]