Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [59]. Core Insights - The report highlights the significant impact of Japan's potential complete halt of photoresist exports to China, which could affect the semiconductor industry as Japan dominates the global photoresist market with a 95% share [4][32]. - The report also discusses the successful IPO of "Moore Threads," the first domestic GPU company, which saw its stock price surge by 468.78% on its debut, reflecting strong investor interest and potential growth in the AI and high-performance computing sectors [4][39]. - The semiconductor materials sector is experiencing rapid domestic production acceleration, with key companies like Tongcheng New Materials and Huate Gas being highlighted for their roles in import substitution and innovation [4][9]. Market Overview - The Wind New Materials Index closed at 5015.17 points, up 0.49% week-on-week, with notable performers including Double Star New Materials (up 21.79%) and Tongcheng New Materials (up 7.9%) [3][14]. - The semiconductor materials index decreased slightly by 0.07%, while the display device materials index increased by 6.92%, indicating mixed performance across sub-sectors [3][14]. Recent Industry Trends - The report tracks recent industry developments, including the IPO preparations of Zhuhai Guoneng New Materials, which aims to expand its product offerings in high-frequency and high-speed copper-clad laminates [32][33]. - The introduction of Millad ClearX™ 9000, a new generation of polypropylene clarifying agent by Milliken, sets a new industry standard for transparency in various applications [37]. Key Companies to Watch - The report suggests focusing on companies like Tongcheng New Materials for their progress in import substitution, Huate Gas for its integrated industrial chain, and Anji Technology and Dinglong Co. for their roles in the semiconductor supply chain [4][9][39].

2025（第十届）起点锂电行业年会暨锂电金鼎奖颁奖典礼&起点研究十周年庆典 2025起点用户侧储能及电池技术论坛 时间： 2025年12月18-19日 地点：深圳 活动背景及意义 一 起点锂电行业年会是起点锂电平台旗下的重磅活动和标杆年会，活动每年举办一届，已经连续举办9届，规模每年超过1000+参会嘉宾，汇聚锂电 材料、设备、电芯及下游应用全产业链相关企业嘉宾，2025年起点锂电行业年会是第十届，同时今年也是起点锂电&起点研究十周年庆典活动，本 次活动主题是： 新周期 新技术 新生态 ，围绕行业新周期，新材料、新工艺、新技术、新的产业格局和生态等热门话题进行深度讨论和发散。 2025（第十届）起点锂电行业年会暨锂电金鼎奖颁奖典礼&起点研究十周年庆典、2025起点用户侧储能及电池技术论坛 必将是行业盛会，希望以 此次活动为起点，总结过去锂电行业十年，展望未来新十年的发展周期，为行业提供交流探讨、聚势共融、共谋发展的机会，欢迎行业同仁和新老 朋友踊跃参与！ 合影墙独家冠名： 蓝京新能源 签到墙独家冠名： 小鲁锂电 椅背贴独家冠名： 奥鸿智能 活动主题及架构 活动名称： 2025（第十届）起点锂电行业年会暨锂电金 ...

新周期 新技术 新生态，由起点锂电、起点储能、起点研究院SPIR主办的 2025（第十届）起点锂电行业年会暨锂电金鼎奖颁奖典礼&起点研究 十周年庆典、2025起点用户侧储能及电池技术论坛 将于 12月18-19日在深圳市维纳斯皇家酒店 举办。会议包含6大专场，聚焦50+热门议 题，将邀请锂电产业链1200+企业嘉宾代表齐聚，共探锂电周期新未来！ 经组委会确认， 江西远东电池有限公司 将作为金牌赞助商重点支持 本届年会举办，年会同期 远东电池资深合伙人、电芯研究院院长/江西远东 电池执行总经理 相江峰 将发表演讲，主题为《江西远东电池高比能圆柱电池开发进展 》！欢迎行业人士报名参会、现场交流！ 企业介绍 2、 锂离子电池21700-5000mAh 21700-5000mAh是一款兼顾高容量与长循环寿命的锂离子电池，循环寿命1000次以上，低温性能优异，能在-40℃环境温度下使用。适用于 二轮车、智能家居等高性能需求场景。 3、 锂离子电池18650-4000mAh 18650-4000mAh是江西远东电池有限公司推出的，全球领先的超高容量产品，能量密度高达300Wh/kg。相比传统的18650的电池，显著提 升 ...

倒计时11天 2025（第十届）起点锂电行业年会暨锂电金鼎奖颁奖典礼 &起点研究十周年庆典 2025起点用户侧储能及电池技术论坛 活动主题： 新周期 新技术 新生态 活动时间： 2025年12月18-19日 活动地址： 深圳市维纳斯皇家酒店（深圳国际会展中心京基百纳店）三楼维纳斯厅（深圳市宝安区沙井 镇沙井路118号） 主办单位： 起点锂电、起点固态电池、起点储能、起点研究院SPIR 活动规模： 线下1200+，在线直播观看30000+ 往 期 回 顾 | 01 | ｜ | 赣锋锂电获10亿元融资！ | | | --- | --- | --- | --- | | 02 | ｜ | 再爆单！海辰储能拿下120GWh订单 | | | ｜ | 03 | 瞄准磷酸铁锂电池 | 吉利/SK On或成立合资公司 | | ｜ | 2025（第十届）起点锂电行业年会、起点用户侧储能及电池技术论坛12月18-19日深 | 04 | 圳举办！ | 扫描右方二维码 加入中国锂电行业通讯录 (备注:公司+姓名+职位) 扫描左方二维码 加入起点锂电行业交流群 (备注:公司+姓名+职位) 2 起点锂电 52 起点固态电池 起点锂电&固态 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - In the context of the resumption of production at Ningde and the expected Q1 off - season, the supply - demand marginal game in the lithium carbonate market will intensify, and the price fluctuation range is expected to expand. However, in the long - term, the long - term value supported by the industry fundamentals remains unchanged, and there are opportunities to go long on dips. It is recommended that investors focus on the structural long - making opportunities after the correction and make batch layouts based on the reasonable valuation range [1][2] 3. Summary According to Relevant Catalogs 3.1 Core Contradictions and Strategy Recommendations 3.1.1 Core Contradictions - The driving logic of lithium carbonate futures prices in the next month will focus on factors such as the tightness of domestic lithium ore inventory, the resumption progress of Jiaxiaowo, the downstream restocking rhythm, and Q1 downstream production scheduling. The supply of lithium ore is affected by the "resumption progress of Jiaxiaowo", and the demand side is strong with continuous inventory depletion. The downstream restocking rhythm and technical factors also affect the price [1] 3.1.2 Trading - Type Strategy Recommendations - Near - term trading logic (before the end of the year): lithium ore inventory tightness, Jiaxiaowo lithium ore resumption progress, and downstream restocking rhythm. Distant - term trading logic (after the end of the year): not elaborated in detail [5][6] 3.1.3 Industrial Customer Strategy Recommendations - For procurement management, different strategies are recommended according to whether the product price is correlated. For sales management, strategies are provided to prevent price decline risks. For inventory management, short - selling futures contracts is recommended to lock in the value of inventory [5] 3.2 Market Information 3.2.1 This Week's Main Information - It includes the resumption progress of Ningde Jiaxiaowo lithium ore, downstream Q1 production scheduling, and a series of industry news such as corporate cooperation agreements and project financing [8][10] 3.2.2 Next Week's Main Information - None 3.3 Futures and Price Data 3.3.1 Price - Volume and Capital Interpretation - This week, lithium carbonate futures prices showed a weakening trend. The MACD and moving averages, and the Bollinger Bands indicated potential further decline risks. The first support level is 90,000 yuan/ton, and the second is 88,000 yuan/ton. The 20 - day historical volatility of futures decreased, the implied volatility of at - the - money options weakened, and the PCR of option positions declined. The long - position scale increased this week [14][15][17] 3.3.2 Month - Spread Structure - The current term structure of lithium carbonate futures shows a contango structure. Near - term contracts are affected by the resumption of production news and the Q1 off - season, while long - term contracts are supported by factors such as the development of the domestic energy storage industry and the growth of new energy vehicle demand [22] 3.3.3 CME and LME Lithium Hydroxide Futures - CME lithium hydroxide futures prices showed different changes in different months, and information on LME lithium hydroxide futures was briefly mentioned without detailed data analysis [28][29][32] 3.3.4 Basis Structure - This week, the basis of the lithium carbonate main contract fluctuated widely, and the current basis level is within a reasonable range [34] 3.3.5 Spot Price Data - The prices of various lithium - related products such as lithium ore, lithium salts, and battery materials showed different changes this week, including price increases and decreases [36] 3.4 Valuation and Profit Analysis 3.4.1 Profit Tracking of the Upstream and Downstream of the Industrial Chain - The demand for lithium - ion batteries has driven the improvement of the profitability of the entire lithium - battery industry chain. The profit of the lithium carbonate production line of upstream lithium salt plants is rising, while the profit of the lithium hydroxide production line is weakening. The profit of cathode materials and lithium - ion battery electrolyte also shows different trends [38] 3.4.2 Import and Export Profits - This week, the import profit of lithium carbonate showed a marginal upward trend, while the export profit of lithium hydroxide showed a marginal weakening trend [43] 3.5 Fundamental Situation 3.5.1 Lithium Ore Supply - Domestic lithium ore production, overseas imports, and inventory data are provided. The total available inventory of domestic lithium ore decreased this week, and the port inventory also decreased [46][49][50] 3.5.2 Upstream Lithium Salt Supply - For lithium carbonate supply, the overall start - up rate of sample enterprises decreased slightly, and the total output increased slightly. The start - up rates and outputs of different production lines showed different changes. The net export and inventory of lithium carbonate also changed. For lithium hydroxide supply, monthly production and start - up rate data are provided [56][70][80] 3.5.3 Mid - Stream Material Factory Supply - The output and start - up rates of battery material factories such as lithium iron phosphate, ternary materials, and cobalt acid lithium showed different trends this week. The inventory of material factories also has corresponding changes [86][99][101] 3.5.4 Downstream Cell Supply - The weekly output of power cells in China increased slightly, and the monthly output of power, energy storage, and consumer - type cells shows seasonal characteristics. The lithium - battery installation volume also has corresponding data [107][109][110] 3.5.5 New Energy Vehicles - The production and sales of new energy vehicles, including passenger cars and commercial vehicles, showed different trends. The inventory of the automotive industry also has corresponding data [113][120][123] 3.5.6 Energy Storage - The total winning bid power scale and winning bid capacity scale of energy storage show corresponding trends [126]

中经记者 陈家运 北京报道 12月6日，川能动力（000155.SZ）公告人事变动，聘任李金生为总经理，并提名为非独立董事候选人。 原副董事长、总经理万鹏因工作变动辞职，不再担任公司任何职务。 这是川能动力年内第二次核心管理层变动。今年5月，张忠武已接替何连俊担任公司董事长。 川能动力主营业务包括新能源发电和锂电业务。截至12月5日，公司市值214亿元。2025年前三季度，川 能动力实现营业收入20.95亿元，同比下降7.98%；归属于上市公司股东的净利润3.47亿元，同比下滑 44.83%。 （编辑：董曙光 审核：吴可仲 校对：颜京宁） 公告显示，李金生拥有研究生学历及工程师、经济师资质，历任四川省能源投资集团经营管理部副部 长、资产运营管理部副部长，并兼任多家子公司董事，现任四川省新能源动力股份有限公司总经理，四 川能投锂业有限公司党支部委员、董事、总经理。 ...

企业介绍 新周期 新技术 新生态，由起点锂电、起点储能、起点研究院SPIR主办的 2025（第十届）起点锂电行业年会暨锂电金鼎奖颁奖典礼&起点研究 十周年庆典、2025起点用户侧储能及电池技术论坛 将于 12月18-19日在深圳市维纳斯皇家酒店 举办。会议包含6大专场，聚焦50+热门议 题，将邀请锂电产业链1200+企业嘉宾代表齐聚，共探锂电周期新未来！ 经组委会确认， 莫洛奇（苏州）智能科技有限公司 将作为金牌赞助商重点支持 本届年会举办，年会同期 莫洛奇 新能源事业部 副总经理 李尊 将发表演讲，主题为《 莫洛奇磁悬浮驱动锂电未来 》！欢迎行业人士报名参会、现场交流！ 起点研究十周年感谢信：十年风雨兼程 感恩与您同行！ 年会演讲嘉宾： 新能安 储能业务中国区总裁 马金鹏将出席2025（第十届）起点锂电年会并发表主题演讲 亿纬锂能 总监 刘石磊将出席2025（第十届）起点锂电年会并发表主题演讲 中国软包电池之父：蓝京新能源 董事长 郭春泰博士确定出席2025起点锂电年会暨十周年晚宴并发表致辞 国轩吉泰美 董事长 徐兴无将发表演讲，主题：电动中国-小动力锂电池未来发展趋势 融捷能源 刘文将发表主题演讲：户储电 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The main contract of lithium carbonate futures (LC2605.GFE) closed at 92,160 yuan/ton, down 1,540 yuan/ton (-1.64%) from the previous day, showing a downward trend in the past 10 trading days. The spot price of lithium carbonate was 93,190 yuan/ton, down 0.82% from the previous day, showing an upward trend in the past 10 trading days. The current basis was -10 points, a negative basis (spot discount), 650 points weaker than the previous day, and the basis has weakened overall in the past 10 trading days. The registered warehouse receipts of lithium carbonate were 10,922 lots, an increase of 500 lots (+4.80%) from the previous day, and the warehouse receipts have decreased overall in the past 10 trading days. The supply-demand relationship continued the de-stocking trend [4]. 3. Summary by Relevant Catalogs 3.1 Industry Dynamics - **Futures**: The closing price of the main contract was 92,160 yuan/ton, down 1,540 yuan/ton from the previous day and 4,260 yuan/ton from the previous week; the settlement price was 93,200 yuan/ton, down 120 yuan/ton from the previous day and 3,200 yuan/ton from the previous week [6]. - **Lithium Spodumene**: The prices of Australian, Brazilian, Zimbabwean, and Malian CIF6 China lithium spodumene concentrates all decreased by 10 - 10 dollars/ton compared to the previous day and 40 - 40 dollars/ton compared to the previous week. The price of South African CIF China lithium spodumene ore remained unchanged [6]. - **Lithium Mica**: The prices of different grades of lithium mica in the Chinese market either remained unchanged or increased slightly compared to the previous week [6]. - **Lithium Carbonate and Lithium Hydroxide**: The price of domestic 99.5% electric lithium carbonate was 93,190 yuan/ton, down 770 yuan/ton from the previous day and 590 yuan/ton from the previous week. The price of domestic 56.5% lithium hydroxide was 82,110 yuan/ton, down 350 yuan/ton from the previous day and 30 yuan/ton from the previous week. The price difference between lithium hydroxide (56.5%, domestic) and lithium carbonate (99.5% electric, domestic) was -11,080 yuan/ton, an increase of 420 yuan/ton from the previous day and 560 yuan/ton from the previous week [6]. - **Ternary Materials and Related Products**: The prices of ternary precursors and ternary materials remained unchanged compared to the previous day and week, and the price of electrolyte (lithium manganate) also remained unchanged [6]. - **Downstream Products**: The price of domestic lithium iron phosphate was 39,100 yuan/ton, remaining unchanged. The average price of domestic cobalt acid lithium (≥60%) was 344,000 yuan/ton, an increase of 500 yuan/ton from the previous week. The price of lithium hexafluorophosphate was 180,000 yuan/ton, remaining unchanged [6]. 3.2 Relevant Charts - **Ore and Lithium Prices**: Charts showed the price changes of lithium mica, lithium carbonate futures, lithium carbonate, lithium hydroxide, lithium carbonate basis, and the price difference between lithium hydroxide and lithium carbonate [8]. - **Cathode & Ternary Materials**: Charts presented the price changes of lithium manganate, lithium iron phosphate, cobalt acid lithium, ternary precursors, and ternary materials [11][15]. - **Other Related Data of Lithium Carbonate Futures**: Charts displayed the changes in the trading volume, open interest, and registered warehouse receipts of the main lithium carbonate contract [17][18].

Core Viewpoint - The article announces the 2025 (10th) Lithium Battery Industry Annual Conference and the Lithium Battery Golden Ding Award Ceremony, organized by Qidian Lithium Battery and Qidian Research Institute, to be held on December 18-19 in Shenzhen, focusing on the future of the lithium battery cycle and inviting over 1200 representatives from the lithium battery industry chain to discuss more than 50 hot topics [2]. Group 1: Event Details - The conference will feature six specialized sessions and will include a keynote speech by Zhao Qingli, General Manager of Beicai New Energy, on the mandatory national standard GB 44240-2024 [2]. - The event will take place at the Venus Royal Hotel in Shenzhen, with a countdown of 13 days to the event [12]. Group 2: Company Overview - Shenzhen Beicai New Energy Technology Co., Ltd. is a reliable third-party testing service provider, offering comprehensive inspection, testing, certification, consulting, training, and technical services for new energy products globally [4]. - The company focuses on new energy products, covering consumer batteries, power batteries, mobile power supplies, and energy storage batteries, serving various high-tech industries [6]. Group 3: Company Advantages - Beicai New Energy has a strategic partnership with UL, a leading international certification body, enhancing its credibility and service quality [8]. - The company holds dual certifications of CNAS and CMA in China, reflecting its technical capabilities and authoritative status in the domestic market [8]. - Beicai New Energy has been recognized for its quality, ranking first in UL CBTL quality in 2024, and is authorized as a testing laboratory by China Merchants Industry [9]. - The company possesses rare UL-TPTDP and UL-CBTL qualifications, indicating its strong international market recognition [10]. - Collaborating with Beicai New Energy on UL projects can provide clients with higher quality, more favorable terms, and faster certification solutions [11].

碳酸锂日报 碳酸锂日报（2025 年 12 月 5 日） 一、研究观点 点 评 请务必阅读正文之后的免责条款部分 EVERBRIGHT FUTURES 1 1. 昨日碳酸锂期货 2605 合约跌 1.26%至 93700 元/吨。现货价格方面，电池级碳酸锂平均价跌 350 元/ 吨至 94000 元/吨，工业级碳酸锂平均价跌 350 元/吨至 91550 元/吨，电池级氢氧化锂（粗颗粒）跌 100 元/吨至 82480 元/吨。仓单方面，昨日仓单库存增加 770 吨至 10422 吨。 2. 供应端，周度产量环比增加 74 吨至 21939 吨，其中锂辉石提锂环比增加 120 吨至 13484 吨，锂云母 产量环比增加 55 吨至 3076 吨，盐湖提锂环比减少 145 吨至 3090 吨，回收料提锂环比增加 44 吨至 2289 吨；据 SMM 数据，12 月预计供应环比增加 3%至 9.8 万吨。需求端，周度三元材料产量环比 减少 564 吨至 18697 吨，库存环比减少 519 吨至 18842 吨；磷酸铁锂产量环比减少 233 吨至 95480 吨，库存环比减少 660 吨至 103681 吨；据 ...