（编辑 丛可心） 证券日报网讯 12月30日，璞泰来在互动平台回答投资者提问时表示，过去几年基膜行业盈利情况较 差，缺乏扩产的动力与资金，当前下游需求增长较快，但产能建设与爬坡需要一定周期，因此，整体供 应偏紧。公司的基膜产品也处于供不应求的状态，因此，正在加快基膜产能的扩建。对于高端基膜产 品，下一代产品对基膜的要求是更薄（如5μm）、更高强度和孔隙率，以及更好的一致性，这涉及整套 工艺技术、量产稳定性和质量管控体系等系统性的提升；虽业内基膜产能规模较大，但能稳定生产下一 代基膜产品（如5μm）的产能有限。目前真正能满足下游客户下一代产品需求的高端基膜供应商较少， 公司是其中之一。同时，公司正在研发5µm以下超薄基膜产品，有能力继续巩固提升在基膜产品方面的 核心竞争力。 ...

Core Viewpoint - Fangyuan Co., Ltd. is increasing its procurement of lithium carbonate raw materials, primarily from recycled materials and lithium sulfate solutions, to gradually enhance production capacity [1] Group 1: Company Operations - The company has stated that its main customers for lithium carbonate products are metal traders and downstream lithium battery manufacturers [1] - Currently, the company has not engaged in futures hedging business [1] Group 2: Market Awareness - The company will closely monitor market dynamics and industry developments to manage its operations effectively [1]

Group 1 - The core viewpoint of the article highlights a simultaneous maintenance wave among leading phosphate iron lithium manufacturers due to high downstream demand, particularly in the energy storage sector, leading to a supply tightness in phosphate iron lithium materials [1][2] - Major companies such as Hunan YN, Wanrun New Energy, and others are planning maintenance that will reduce their phosphate lithium production by significant amounts, ranging from 1,500 to 30,000 tons [3][5] - The maintenance is primarily aimed at ensuring equipment safety and product quality, but there is an underlying motive to increase selling prices due to rising costs of core raw materials like lithium carbonate and phosphoric acid [5][6] Group 2 - The collective price increase effort comes at a time when the demand drop from December 2025 to January 2026 is only 4%, indicating a relatively stable market compared to previous years [6][8] - Capacity utilization rates for major shipping companies are expected to improve significantly, with 2024 rates between 30-60% and 2025 rates between 55-85% [8]

Core Viewpoint - Longpan Technology announced that its subsidiary, Changzhou Liyuan New Energy Technology Co., Ltd., will reduce production on some lithium iron phosphate production lines for maintenance starting January 1, 2026, to ensure long-term stable and efficient operation [2] Group 1 - Changzhou Liyuan's lithium iron phosphate production lines have been operating at overload since Q4 2025 [2] - The maintenance is expected to last for one month and will reduce lithium iron phosphate output by approximately 5,000 tons [2] - The company stated that this maintenance will not have a significant impact on its operating performance in 2026 [2]

热门品种机构观点 光大期货表示，上周业内多条消息引发市场关注：2026年1月1日起，天齐锂业所有产品现货交易结算价 将调整为参考Mysteel的电池级锂盐价格，或者参考广期所的碳酸锂期货主力合约价格；湖南裕能部分 生产线将自2026年1月1日起检修，预计减少产量1.5—3.5万吨；万润新能将对部分产线按照预定计划进 行减产检修预计减少公司磷酸铁锂产量5000吨至2万吨；德方纳米对部分产线按既定安排进行检修，并 对部分设备进行技术改造，使生产设备达到最佳的运行水平，检修时间从2026年1月1日起，预计一个 月。目前来看，定价机制和价格传导方面存在部分问题，实际需要关注价格传导向下游是否顺畅以及强 需求是否能够得到验证。 创元期货表示，短期多空博弈激烈，利空点在于需求即将迎来传统淡季，且终端新能源汽车销量走弱， 一季度排产可能成为博弈重点，利多点在于行业经过连续十几周的去库，中下游碳酸锂库存处于较低水 平，即使去库放缓，但低库存水平对于盘面有较强支撑。短期涨幅过快，交易所多次限仓，需注意风 险，建议等宁德复产落地之后根据基本面进行判断，盘面投机情绪浓厚，波动较大。 三、铁矿石主力合约：下游需求超预期，铁矿石盘中一 ...

人民财讯12月29日电，龙蟠科技（603906）12月29日公告，控股子公司常州锂源磷酸铁锂产线已超负荷 运转，为确保生产线安全稳定高效运行，自2026年1月1日起，将对部分产线进行减产检修，预计检修时 间一个月，预计减少磷酸铁锂产量5000吨左右，预计不会对公司2026年经营业绩产生重大影响。 ...

利润估算 种类 外购锂辉石精矿现金成本 114573 H 利 # 江 -4185 外购锂辉石精矿利润 外购锂云母精矿现金成本 111677 外购锂云母精矿利润 -3885 行业 12月25日晚，湖南裕能，万润新能公告拟对部分产线就产检修。湖南裕能公告检修时间从2026年1月1日起预计一个月，本次检修预计减少公司 盐正极材料产品产量1.5至3.5万吨。万润新能公告，自2025年12月28日起，公司将对部分产线按照预定计划进行减产检修，预计检修时 个月,预计减少公司磷酸铁锂产量5000吨至2万吨。 主要 污灾方面,终端(储能+新能源车) 旺季持续,材料端1月停产检修增加,社会库存"上游-下游-终端"移动的链条流畅。供给方面,尚未见大 墙产。产业链博弈长协价格,上游挺价意愿增加,再次验证终端需求旺盛,中长期支撑价格。短期内,价格快速上涨, 十十八 7117 警惕追言风险。 xiti 贡 免 告中的信息均源于公开可获得的资料、国贸期货力求准确可靠。但不对上述信息的准确性及完整性做低何保证。本报告不构成个人投资建 对个别投资者特殊的投资目标、财务状况或需要，投资者需自行判断本报告中的任何意见或建议是否符合其特定状况，据 ...

Core Viewpoint - The company, Changyuan Technology Group Co., Ltd. (ST Changyuan), is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, but its operations remain unaffected as of now [2][2][2] Group 1: Investigation Details - The CSRC has issued a notice of investigation to the company on December 26, citing violations of the Securities Law of the People's Republic of China and the Administrative Penalty Law [2][2] - During the investigation, ST Changyuan will cooperate with the CSRC and adhere to legal and regulatory requirements, ensuring timely information disclosure to protect investors' rights [2][2][2] Group 2: Business Operations - ST Changyuan's main business includes smart grid equipment, energy internet technology services, consumer electronics, and lithium iron phosphate materials, with applications in the electric vehicle industry [2][2] - The subsidiary, Jinli Technology, focuses on the research, production, and sales of lithium battery cathode materials, specifically lithium iron phosphate, which is used in power, energy storage, and consumer electronics batteries [2][2] - Jinli Technology reported revenue of 47.55 million yuan in the first half of 2025, accounting for 1.37% of the company's total revenue [2][2][2] Group 3: Leadership Issues - On November 24, the company received a notice of detention regarding its chairman and legal representative, Qiao Wenjian, due to suspected job-related violations [2][2]

Core Viewpoint - Several leading lithium iron phosphate (LFP) companies have announced production halts for maintenance, raising questions given the booming downstream demand for batteries, particularly in energy storage [1] Group 1: Company Actions - 德方纳米 plans to conduct annual equipment maintenance starting January 1, 2026, for approximately one month [1] - 湖南裕能 also announced maintenance for some production lines starting January 1, 2026, expected to last one month [1] - 万润新能 has similarly declared a reduction in production for maintenance [1] Group 2: Industry Context - The LFP industry leaders are reducing production despite a surge in downstream demand, which is experiencing explosive growth, particularly in energy storage batteries [1] - There has been a "chip shortage" phenomenon in the industry, indicating high demand levels [1] - The primary goal of these production halts is to strengthen negotiation leverage for price increases with downstream customers [1] Group 3: Pricing Trends - In December, several leading LFP manufacturers initiated a price increase trend, with product processing fees set to rise starting January 2026 [1]

Core Viewpoint - Several lithium iron phosphate manufacturers have announced production halts for maintenance due to high upstream raw material prices, leading to cost pressures [1] Group 1: Company Responses - Companies such as Hunan Youneng, Wanrun New Energy, Defang Nano, and Anda Technology have declared production halts for maintenance [1] - Wanrun New Energy stated that the maintenance of certain production lines does not affect overall orders and shipments [1] Group 2: Industry Analysis - The reduction in production by leading companies is attributed to equipment maintenance and rising prices of upstream materials like lithium carbonate [1] - An industry association representative noted that manufacturers halting production for maintenance is a necessary measure under current conditions [1]