长江商报消息 ●长江商报记者 沈右荣 "宁王"动作不断。 12月26日晚，宁德时代（300750.SZ，03750.HK）通过官方微信公众号发布消息，公司与厦门建发集团签署战略 合作协议，双方将充分发挥各自在产业、技术、资源及市场布局等方面的优势，展开战略合作。宁德时代称，此 次签约，标志着宁德时代与厦门建发集团的合作进入深度整合阶段。 12月25日，宁德时代与思源电气签署储能合作备忘录，目标合作电量高达50GWh。此前的11月12日，公司与海博 思创签署为期10年的合作协议。海博思创累计采购电量不低于200GWh。 12月24日，宁德时代与韩国电解液巨头Enchem签订五年期合同，总金额约72.68亿元。 12月17日，宁德时代与岚图汽车签署为期10年的深化合作协议。 50GWh、200GWh，在储能兴起之际，已经成为全球第一的宁德时代，频签储能大单，对应金额超过千亿。储 能，已经成为宁德时代业绩增长的新引擎。 岚图、紫光国微、马士基，宁德时代的"朋友圈"持续扩大。公司产业链更加夯实，产业场景更加多元。 宁德时代股价仍处于相对高位。截至12月26日收盘，公司市值稳居1.7万亿元之上。 锁定250GWh储能长 ...

Market News - The Ministry of Finance announced that a more proactive fiscal policy will continue in 2026, focusing on expanding fiscal expenditure, optimizing government bond tools, enhancing transfer payment efficiency, and improving expenditure structure [3] - The National Bureau of Statistics will release the December PMI data on December 31, with November's manufacturing PMI at 49.2%, a slight increase of 0.2 percentage points from October [4] - The People's Bank of China aims to significantly increase the scale and proportion of various long-term funds invested in A-shares, promoting a virtuous cycle between capital market stability and high-quality economic development [6] - The Shanghai and Shenzhen Stock Exchanges announced a series of fee reduction measures for 2026, expected to save over 1.9 billion yuan in total [7] Sector Developments - The Ministry of Industry and Information Technology established a standardization committee for humanoid robots and embodied intelligence, focusing on key technologies and industry standards [11] - The 2025 Shenzhen Brain Conference aims to create a platform for industry integration and innovation [13] - The 2025 China Green Hydrogen Industry Conference will discuss policies and technological breakthroughs that will impact the green hydrogen industry chain [14] Individual Stock Events - CATL plans to apply sodium batteries on a large scale in various sectors including battery swapping and energy storage in 2026 [17] - Xiaomi's co-founder plans to reduce holdings of up to $2 billion in B-class common stock [17] - ST Huluwawa and its chairman are under investigation for information disclosure violations [17] Lock-up Expiration - A total of 34 companies will have lock-up shares released this week, amounting to 3.697 billion shares with a total market value of approximately 58.895 billion yuan [18] - The peak lock-up expiration date is December 30, with 13 companies releasing shares worth a total of 27.645 billion yuan [18] Institutional Outlook - CITIC Securities highlights that 39 out of 360 industry/theme ETFs reached new highs in December, with a focus on communication and resource-related ETFs [25] - Guojin Securities identifies new investment themes emerging in 2026, emphasizing the importance of AI investments and the recovery of global manufacturing [26] - Zhongtai Securities believes there is still upward potential in the market before the Spring Festival, with opportunities for low-cost positioning [27]

Core Insights - Intelligent manufacturing is characterized by the deep integration of new digital technologies and advanced manufacturing techniques, with Jiangsu's "smart manufacturing" products gaining strong traction in global markets this year [1] Group 1: Company Developments - Mondelez (Suzhou) Co., Ltd. has become the first "end-to-end lighthouse factory" in the global snack and biscuit industry, with five fully automated production lines and an annual capacity exceeding 100,000 tons, leading to a 3.2% year-on-year increase in export value in the first 11 months of this year [1] - Nantong Weiyue Electric Co., Ltd. has transitioned from "OEM" to "brand export," with KMC televisions capturing a top-three market share in Saudi Arabia, achieving a 20.5% year-on-year increase in export value to 410 million yuan in the first 11 months [1] - Sanxiao Group's new green smart factory has improved production efficiency by over 50%, with a reduction in error rates and stable product quality, leading to increased order volumes despite higher product prices [2] Group 2: Industry Trends - Jiangsu Province's high-tech product exports reached 1.19 trillion yuan, reflecting an 8.6% year-on-year growth, driven by advancements in intelligent manufacturing [2] - The demand for high-end data transmission cables has surged, with Haolisi Cable Assembly Co., Ltd. reporting a nearly 70% year-on-year increase in the total import and export value of data cables, amounting to 8.883 million USD in the first 11 months [2] - Jiangsu Tianpeng Power Co., Ltd. is capitalizing on the global low-carbon transition market by exporting cylindrical lithium batteries, which benefit from reduced tariffs due to the issuance of certificates of origin by customs [3]

Core Viewpoint - The article discusses the strategic partnership between JunDa Co., Ltd. and Shangyi Optoelectronics, focusing on the development and commercialization of perovskite battery technology for space energy applications, highlighting the advancements in battery efficiency and the growing demand for energy solutions in the space economy [1][2]. Group 1: Strategic Partnership and Technological Advancements - JunDa Co., Ltd. has signed a strategic cooperation agreement with Shangyi Optoelectronics to invest in the latter as a strategic shareholder, aiming to integrate industry and scenario resources for perovskite battery technology applications in space energy [1]. - JunDa has achieved a laboratory efficiency of 32.08% for perovskite tandem batteries, positioning itself at the forefront of the industry, with plans to complete the first industrialized N-type + perovskite tandem battery by November 2025 [1]. - The partnership will establish a collaborative mechanism for technology research and development, on-orbit verification, and application scenario expansion [1]. Group 2: Market Trends and Demand - The global low Earth orbit (LEO) satellite constellation deployment is entering a rapid growth phase, with over 100,000 satellites planned, indicating a shift towards dense networking and large-scale development [2]. - The functionality of low Earth orbit satellites is evolving from remote sensing and communication to on-orbit AI training and edge computing, increasing the demand for lightweight and efficient energy solutions [2]. - The space economy is becoming a core arena for reshaping global technological competition, with significant implications for energy supply and thermal efficiency in ground computing facilities [2]. Group 3: Advantages of Perovskite Batteries - Perovskite batteries offer advantages such as ultra-lightweight, low cost, high radiation resistance, and flexible deployment, making them a revolutionary solution for space energy challenges [3]. - The lightweight nature of perovskite batteries can significantly reduce spacecraft payload weight, thereby lowering launch costs [3]. - The cost of raw materials for perovskite batteries is substantially lower compared to traditional gallium arsenide batteries, making them suitable for large-scale applications [3].

本文源自：金融界AI电报 中伟新材(02579.HK)发布公告，公司与欣旺达动力科技股份有限公司(简称"欣旺达")于2025年12月25日 签署《固态电池战略合作框架协议》。双方都拥有良好的品牌形象，双方在战略合作方面具有较强的互 补性和兼容性且保持着良好的合作关系，本着平等互利的原则签订本协议，旨在建立深层次的战略合作 关系共同开发固态电池应用系列的新能源电池材料，推动固态电池应用系列新能源电池材料的产业化实 施。 ...

Group 1 - The three major indices in the stock market have risen, with the Shanghai Composite Index increasing by 1.88%, the Shenzhen Component Index by 3.53%, and the ChiNext Index by 3.90, indicating a positive market trend [1][16] - Citic Securities suggests that the market requires more diverse sources of economic growth to sustain upward momentum, emphasizing the need for structural opportunities in a fluctuating market [2][17] - Everbright Securities highlights the potential for a "spring rally" driven by policy support and increased capital inflows, suggesting that historical patterns indicate a seasonal market uptrend [3][18] Group 2 - The focus on growth and consumption sectors is recommended, with particular attention to the commercial aerospace concept as a potential investment opportunity [4][19] - Zhongtai Securities notes that the market has room for upward movement before the Spring Festival, with a favorable risk appetite and a focus on low-cost positioning [5][20] - Zheshang Securities identifies three driving factors for the market's shift towards a bullish sentiment, including strong performance from the CSI A500 ETF and the ongoing popularity of commercial aerospace [6][21] Group 3 - The overall valuation of A-shares has expanded, with the non-ferrous metals sector leading the gains, driven by global liquidity and tight supply conditions [10][26] - The current PB (LF) for the non-ferrous metals sector is at the 84.4% historical percentile, indicating that valuations have not reached extreme levels [10][26] - Long-term strategies under the current trend include focusing on technology and defensive sectors, particularly in light of the ongoing appreciation of the RMB [11][27] Group 4 - The market is expected to stabilize around the 4000-point mark on the Shanghai Composite Index, with a focus on macroeconomic data and policy changes [12][28] - The upcoming Spring Festival is anticipated to bring about a continuation of the spring rally, with a focus on technology and cyclical sectors [13][29] - The outlook for January includes expectations of further policy support and a potential increase in liquidity, which may enhance market conditions [14][30]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：中原证券股份有限公司 A 股市场综述 周五（12 月26 日）A 股市场冲高遇阻、小幅震荡上行，早盘股指低后震荡上行，盘中沪指在3977 点附 近遭遇阻力，午后股指维持震荡，盘中航天航空、光伏设备、电池以及有色金属等行业表现较好；酿 酒、医疗器械、电源设备以及半导体等行业表现较弱，沪指全天基本呈现小幅震荡上行的运行特征。创 业板市场周五震荡上扬，创业板成分指数全天表现与主板市场基本同步。 后市研判及投资建议 MACD金叉信号形成，这些股涨势不错！ MACD金叉信号形成，这些股涨势不错！ 责任编辑：郭栩彤 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：中原证券股份有限公司 A 股市场综述 周五（12 月26 日）A 股市场冲高遇阻、小幅震荡上行，早盘股指低后震荡上行，盘中沪指在3977 点附 近遭遇阻力，午后股指维持震荡，盘中航天航空、光伏设备、电池以及有色金属等行业表现较好；酿 酒、医疗器械、电源设备以及半导体等行业表现较弱，沪指全天基本呈现小幅震荡上行的运行特征。创 业板市场周五震荡上扬，创业板 ...

LG新能源450亿大单告吹 近日，据LG新能源披露，公司 已收到福特方通知，终止2024年双方签署的9.6万亿韩元（ 约合458.41亿元人民币 ）电池供应订单。 相关文件显示，LG新能源收到 合同终止通知，主要由于 福特方近期市场变动和电动汽车需求预测变化而停止生产某些电动汽车（EV）车型。 27GWh电池项目签约山东 12 月 19 日， 山东省肥城市人民政府与鹏程无限、瑞能电力三方共同签订肥城 27GWh 电芯生产项目合作协议。 据了解 ，该项目总投资 55 亿元，采用行业领先的高速自动化产线，生产储能专用 500Ah+ 大容量电芯， 实现电芯前、后工序全流程覆盖。 同时，项目广泛应用物联网、大数据、人工智能等前沿技术，打造高度自动化、数字化、智能化的 "黑灯工厂"，生产效率、产品一致性、能源 利用率等技术指标均处于行业第一梯队。 项目达产后，年产值可突破 80 亿元，还将吸引上下游电池材料、核心部件及配套企业集聚，形成百亿级新能源产业集群，助力区域产业转型升 级和能源结构优化。 据悉，此次项目落地采用 "瑞能建、鹏程用"的轻资产模式，瑞能负责工厂建设，鹏程无限负责租赁运营，共同开拓储能终端市场。 赣锋 ...

Core Viewpoint - CATL is striving to regain market share, maintaining production and ensuring rapid product circulation while facing challenges in profit margins and competition from other battery manufacturers [1][2]. Group 1: Market Position and Strategy - CATL's market share in China has decreased from 51% in 2021 to 43% today, indicating a loss of competitive edge [1]. - The company is focusing on long-term partnerships, as evidenced by a recent five-year strategic cooperation agreement with Li Auto, emphasizing the importance of maintaining a significant market share [1]. - CATL has locked in over 10 billion yuan in orders from NIO annually, showcasing its strong position in the supply chain despite NIO's previous attempts to reduce reliance on CATL [2]. Group 2: Production and Supply Chain - CATL is experiencing production capacity constraints, prioritizing clients with deep cooperation for battery supply, which has led to a backlog of 20,000 units of range-extended batteries at its Liuyang factory [1]. - The company is able to offer competitive pricing, quoting 20% lower than Geely's self-produced batteries due to its efficient production processes [3]. - CATL's production speed is three times faster than the industry average, allowing it to respond quickly to market demands [3]. Group 3: Product Development and Collaboration - CATL is developing solutions for models it does not secure low-spec projects for, ensuring readiness to meet urgent demands [3]. - Despite competition, data indicates that the failure rates of self-produced battery packs from various automakers are comparable to those of CATL, suggesting that CATL maintains a strong reputation for reliability [4].

Core Viewpoint - The solid-state battery sector is experiencing significant growth driven by technological advancements and capital influx, with major companies and investors actively participating in this emerging market [2][11]. Group 1: Market Performance - The solid-state battery index surged from 1200 points to 2426 points between April and October, nearly doubling in value [2]. - Leading companies in the sector, such as Guoxuan High-Tech and Yiwei Lithium Energy, have seen market capitalizations increase by over 120% [2]. - On a single day, stocks like Hongyuan Pharmaceutical and Jujie Microfiber rose by 20%, showcasing the sector's strong performance [3]. Group 2: Institutional Investment - Goldman Sachs has made significant investments in companies like Haike New Source, Tianji Co., and Kosen Technology, which have all reached their daily price limits [2]. - The top ten shareholders of a specific stock hold 170 million shares, accounting for 34.02% of the circulating shares, indicating strong institutional interest [1]. Group 3: Technological Advancements - Recent breakthroughs in solid-state battery technology include Guoxuan High-Tech's first all-solid-state pilot line and Jinshi's high yield rate of 90% in trial production [2][4]. - Yiwei Lithium Energy has introduced the "Longquan No. 2" 10Ah all-solid-state battery, achieving an energy density of 300Wh/kg, targeting high-end applications [3]. Group 4: Industry Support and Policy - The Chinese government has issued policies supporting the development of solid-state batteries, including the "2025-2026 Action Plan for Stable Growth in the Electronic Information Manufacturing Industry" [4]. - The industry is expected to see a significant increase in production, with projections of 7GWh in 2024 and 30GWh by 2028 [10]. Group 5: Challenges and Future Outlook - Despite the promising outlook, challenges remain, including high production costs and the need for technological maturity [8]. - Industry experts predict that solid-state batteries will begin to see commercial applications in high-end consumer electronics and electric vehicles within the next 3 to 5 years [9].