Group 1 - Ganfeng Lithium's stock increased by 5.08%, reaching 63.87 CNY per share, with a trading volume of 5.743 billion CNY and a turnover rate of 7.68%, resulting in a total market capitalization of 131.393 billion CNY [1] - Ganfeng Lithium, established on March 2, 2000, and listed on August 10, 2010, is primarily engaged in the research, development, production, and sales of various lithium products. The revenue composition includes lithium series products (56.78%), lithium battery series products (35.52%), and others (7.70%) [1] Group 2 - One fund under Dongcai Fund has Ganfeng Lithium as a top holding. The New Energy Vehicle Leader ETF (159637) reduced its holdings by 22,000 shares in the second quarter, now holding 726,200 shares, which accounts for 3.01% of the fund's net value, ranking as the eighth largest holding [2] - The New Energy Vehicle Leader ETF (159637) was established on August 19, 2022, with a current size of 814 million CNY. It has achieved a year-to-date return of 47.85%, ranking 501 out of 4,218 in its category, and a one-year return of 48.38%, ranking 427 out of 3,875. Since inception, it has incurred a loss of 12.99% [2]

Report Industry Investment Rating - Not provided Core View of the Report - In the short - term, lithium carbonate futures prices may fluctuate with a bullish bias due to increased purchasing demand during the quarterly peak season, creating a short - term supply - demand mismatch that supports prices from below. The upside space depends on lithium carbonate supply resumption and hedging pressure. In the long - term, the pattern of oversupply remains unchanged [3] Summary by Related Catalogs Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 74,350 yuan/ton with a daily increase of 250 yuan/ton; SMM industrial - grade lithium carbonate has an average price of 72,100 yuan/ton with a daily increase of 250 yuan/ton [1] Lithium Futures Contracts - The closing price of lithium carbonate 2510 is 76,180 yuan/ton with a daily increase of 0.53%; lithium carbonate 2511 is 76,780 yuan/ton with a daily increase of 1.78%; lithium carbonate 2512 is 77,080 yuan/ton with a daily increase of 1.69%; lithium carbonate 2601 is 77,120 yuan/ton with a daily increase of 1.63%; lithium carbonate 2602 is 76,900 yuan/ton with a daily increase of 1.61% [1] Lithium Ore - Lithium spodumene concentrate (CIF China) has an average price of 857 yuan/ton with a daily increase of 3 yuan/ton; lithium mica (Li20:1.5% - 2.0%) is 1115 yuan/ton; lithium mica (Li20:2.0% - 2.5%) is 1845 yuan/ton; phosphorus lithium aluminum stone (Li20:6% - 7%) is 6475 yuan/ton with a daily increase of 145 yuan/ton; phosphorus lithium aluminum stone (Li20:7% - 8%) is 7650 yuan/ton with a daily increase of 130 yuan/ton [1][2] Cathode Materials - The average price of lithium iron phosphate (power type) is 34,185 yuan/ton with a daily increase of 110 yuan/ton; the average price of ternary material 811 (polycrystalline/power type) is 156,900 yuan/ton with a daily increase of 100 yuan/ton; the average price of ternary material 523 (single - crystal/power type) is 136,300 yuan/ton with a daily increase of 300 yuan/ton; the average price of ternary material 613 (single - crystal/power type) is 136,350 yuan/ton with a daily increase of 200 yuan/ton [2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 2250 yuan/ton; the price spread between battery - grade lithium carbonate and the main contract is - 2770 yuan/ton with a change of - 890 yuan/ton; the price spread between the near - month and the first - continued contract is - 300 yuan/ton with a change of 40 yuan/ton; the price spread between the near - month and the second - continued contract is - 340 yuan/ton with a change of 60 yuan/ton [2] Inventory - The total weekly inventory is 132,658 tons with a decrease of 2143 tons; the weekly inventory of smelters is 34,283 tons with a decrease of 464 tons; the weekly inventory of downstream is 57,735 tons with a decrease of 2030 tons; the weekly inventory of others is 40,640 tons with an increase of 350 tons; the daily registered warehouse receipts are 29,019 tons with a decrease of 873 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate is 75,146 yuan/ton with a profit of - 1873 yuan/ton; the cash cost of purchasing lithium mica concentrate is 77,947 yuan/ton with a profit of - 6672 yuan/ton [3] Technological Breakthrough - A research team led by Huang Xuejie from the Chinese Academy of Sciences' Institute of Physics has developed an anion regulation technology to solve the problem of poor contact between the electrolyte and lithium electrodes in all - solid - state metal lithium batteries, and the research results were published in the international academic journal "Nature - Sustainable Development" [3]

长安鑫禧混合A（005477）基金经理为江博文。 截至发稿，江博文累计任职时间1年106天，现任基金资产总规模4.18亿元，任职期间最佳基金回报 23.84%， 任职期间最差基金回报4.81%。 10月22日，盛新锂能涨5.49%，截至发稿，报20.36元/股，成交9.07亿元，换手率5.37%，总市值186.35 亿元。 资料显示，盛新锂能集团股份有限公司位于广东省深圳市福田区皇岗路5001号深业上城(南区)T1栋56 楼，成立日期2001年12月29日，上市日期2008年5月23日，公司主营业务涉及中纤板、林木的生产与销 售;稀土产品、氯化锂、电池级单水氢氧化锂、电池级碳酸锂的生产销售等新能源、新材料领域。主营 业务收入构成为：新能源100.00%。 从基金十大重仓股角度 数据显示，长安基金旗下1只基金重仓盛新锂能。长安鑫禧混合A（005477）二季度减持92.2万股，持有 股数135.29万股，占基金净值比例为5.94%，位居第一大重仓股。根据测算，今日浮盈赚取约143.41万 元。 长安鑫禧混合A（005477）成立日期2018年2月7日，最新规模6187.89万。今年以来收益11.51%，同类 排名 ...

资料显示，江西赣锋锂业集团股份有限公司位于江西省新余市经济开发区龙腾路,香港湾仔皇后大道东 248号大新金融中心40楼，成立日期2000年3月2日，上市日期2010年8月10日，公司主营业务涉及从事各 种深加工锂产品的研究、开发、生产与销售。主营业务收入构成为：锂系列产品56.78%，锂电池系列 产品35.52%，其他7.70%。 截至6月30日，赣锋锂业股东户数28.39万，较上期减少3.94%；人均流通股4254股，较上期增加4.03%。 2025年1月-6月，赣锋锂业实现营业收入83.76亿元，同比减少12.65%；归母净利润-5.31亿元，同比增长 30.13%。 9月30日，赣锋锂业涨4.07%，成交额66.89亿元。两融数据显示，当日赣锋锂业获融资买入额8.06亿 元，融资偿还8.67亿元，融资净买入-6156.81万元。截至9月30日，赣锋锂业融资融券余额合计40.31亿 元。 融资方面，赣锋锂业当日融资买入8.06亿元。当前融资余额40.19亿元，占流通市值的4.09%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，赣锋锂业9月30日融券偿还6500.00股，融券卖出1.81万股， ...

Group 1 - Ganfeng Lithium's stock price increased by 5.34% to 57.85 CNY per share, with a trading volume of 3.041 billion CNY and a turnover rate of 4.45%, resulting in a total market capitalization of 119.009 billion CNY [1] - Ganfeng Lithium, established on March 2, 2000, and listed on August 10, 2010, is primarily engaged in the research, development, production, and sales of various lithium products. The revenue composition is as follows: lithium series products 56.78%, lithium battery series products 35.52%, and others 7.70% [1] Group 2 - Huatai-PB Asset Management's fund, Huatai-PB CSI 300 ETF (510300), is among the top ten circulating shareholders of Ganfeng Lithium, having increased its holdings by 1.5816 million shares in Q2, totaling 20.0632 million shares, which represents 1.25% of the circulating shares. The estimated floating profit today is approximately 58.7851 million CNY [2] - The Huatai-PB CSI 300 ETF (510300) was established on May 4, 2012, with a current scale of 374.704 billion CNY. Year-to-date returns are 18.58%, ranking 2846 out of 4220 in its category, while the one-year return is 39.35%, ranking 2369 out of 3820. Since inception, the return is 112.19% [2]

Group 1 - Ganfeng Lithium's stock increased by 5.12% to 55.86 CNY per share, with a trading volume of 4.984 billion CNY and a turnover rate of 7.67%, resulting in a total market capitalization of 114.915 billion CNY [1] - Ganfeng Lithium, established on March 2, 2000, and listed on August 10, 2010, is primarily engaged in the research, development, production, and sales of various lithium products [1] - The company's revenue composition includes lithium series products at 56.78%, lithium battery series products at 35.52%, and other products at 7.70% [1] Group 2 - According to data, the Jianxin Fund has a significant holding in Ganfeng Lithium, with the Jianxin National Index New Energy Vehicle Battery ETF (159775) increasing its holdings by 1,100 shares in the second quarter, totaling 72,700 shares, which represents 4.35% of the fund's net value [2] - The Jianxin National Index New Energy Vehicle Battery ETF (159775) was established on January 7, 2022, with a current scale of 563.956 million CNY, achieving a year-to-date return of 51.65% and a one-year return of 98.36% [2] - The fund's performance ranks 428 out of 4,220 in the year-to-date category and 621 out of 3,814 in the one-year category, while it has experienced a loss of 16.74% since inception [2]

Group 1 - Ganfeng Lithium's stock price dropped by 5.09% to 47.41 CNY per share, with a trading volume of 4.582 billion CNY and a turnover rate of 7.77%, resulting in a total market capitalization of 97.532 billion CNY [1] - Ganfeng Lithium, established on March 2, 2000, and listed on August 10, 2010, is primarily engaged in the research, development, production, and sales of various lithium products. The revenue composition includes lithium series products (56.78%), lithium battery series products (35.52%), and others (7.70%) [1] Group 2 - According to data from the top ten holdings of funds, Hongde Fund has a significant position in Ganfeng Lithium, with its Hongde Automotive Industry Upgrade Mixed Fund A (017663) increasing its holdings by 300 shares to a total of 5,700 shares, representing 1.98% of the fund's net value, ranking as the ninth largest holding [2] - The Hongde Automotive Industry Upgrade Mixed Fund A was established on January 17, 2023, with a latest scale of 9.1148 million CNY. Year-to-date returns are 41.29%, ranking 1620 out of 8172 in its category, while the one-year return is 75.15%, ranking 1441 out of 7980 [2]

新能源及有色金属日报 | 2025-07-01 市场分析 2025年6月30日，碳酸锂主力合约2509开于63460元/吨，收于62260元/吨，当日收盘价较昨日结算价收跌0.77%。当 日成交量为389727手，持仓量为330824手，较前一交易日减少10624手，根据SMM现货报价，目前期货升水电碳960 元/吨。所有合约总持仓596987手，较前一交易日减少18035手。当日合约总成交量较前一交易日降低296883手，成 交量494672，整体投机度为0.83。当日碳酸锂仓单22628手，较上个交易日增加630手。 碳酸锂现货：根据SMM数据，2025年6月30日电池级碳酸锂报价6.05-6.21万元/吨，较前一交易日上涨0.015万元/吨， 工业级碳酸锂报价5.92-6.02万元/吨，较前一交易日上涨0.015万元/吨。根据SMM调研，当前市场呈现\"上游挺价、 下游压价\"的博弈格局：冶炼厂报价维持高位，但下游正极材料厂采购仍以刚需为主，市场整体成交清淡。不过部 分刚性需求订单仍支撑价格小幅上行，受期货盘面影响，现货也有所走强，但基本面并未改善。 策略 反弹后套保意愿较高，碳酸锂盘面走弱 跨品种：无 ...

Report Industry Investment Rating No investment rating information is provided in the report. Core Viewpoints The fundamental situation of lithium carbonate remains weak. With the weakening of macro - sentiment, the lithium carbonate futures market has declined and returned to the fundamental level [3]. Summary by Directory Market Analysis - On June 12, 2025, the main contract 2507 of lithium carbonate opened at 61,400 yuan/ton and closed at 60,440 yuan/ton, a 1.56% drop from the previous settlement price. The trading volume was 169,708 lots, and the open interest was 162,882 lots, a decrease of 15,353 lots from the previous trading day. The total open interest of all contracts was 578,788 lots, an increase of 15,808 lots. The total trading volume of the contracts decreased by 84,329 lots to 372,443 lots, and the overall speculation degree was 0.64. The lithium carbonate warehouse receipts were 32,383 lots, a decrease of 454 lots from the previous day [1]. - According to SMM data, on June 12, 2025, the price of battery - grade lithium carbonate was 60,100 - 61,200 yuan/ton, an increase of 150 yuan/ton from the previous trading day, and the price of industrial - grade lithium carbonate was 58,550 - 59,550 yuan/ton, also an increase of 150 yuan/ton. Overseas mines are holding prices firm, with SC6 quoted at CIF $635/ton or higher. Downstream demand is weak due to sufficient inventory and pessimistic expectations for future lithium salt prices [1]. Inventory and Production - The latest weekly inventory increased slightly by 1,117 tons to 133,500 tons, mainly due to an increase in upstream inventory. The weekly production also increased slightly by 6,561 tons to 18,100 tons, with production from spodumene, mica, and salt lakes all increasing [2]. Strategy - Unilateral: Sell - hedge on rallies. - Inter - period: No strategy. - Cross - variety: No strategy. - Spot - futures: No strategy. - Options: No strategy [3]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The lithium carbonate market is currently in a state of oversupply, with weak cost support due to falling lithium ore prices. Despite some recent strengthening in downstream purchasing willingness on the futures market, the overall pattern of oversupply is difficult to reverse. The report recommends short - selling strategies under the current market conditions [1][2]. 3. Summary by Section Market Analysis - On May 19, 2025, the main lithium carbonate contract 2507 opened at 61,800 yuan/ton and closed at 61,180 yuan/ton, down 2.27% from the previous day's settlement price. The trading volume was 224,064 lots, and the open interest was 335,807 lots, an increase of 7,066 lots from the previous day. The total open interest of all contracts was 566,765 lots, a decrease of 16,660 lots, and the total trading volume decreased by 112,494 lots. The overall speculation degree was 0.5, and the lithium carbonate warehouse receipts increased by 60 lots to 36,684 lots [1]. - According to SMM data, on May 19, 2025, the price of battery - grade lithium carbonate was 62,300 - 65,100 yuan/ton, down 800 yuan/ton from the previous day, and the price of industrial - grade lithium carbonate was 62,650 - 63,650 yuan/ton, up 100 yuan/ton from the previous day. The spot transaction price of lithium carbonate is oscillating downward. The falling lithium ore prices have weakened cost support, and with no mine production cuts, the supply is strong. Given limited downstream demand growth, the oversupply situation is hard to change [1]. Strategy - With falling spot prices, declining ore prices, and average consumption growth, and a large number of warehouse receipts registered, the lithium price is hitting new lows under weak macro and fundamental conditions. It is necessary to monitor downstream purchasing volume. - Unilateral strategy: Sell - hedging on price rallies. - Options strategy: Sell out - of - the - money call options or use bear - spread options [2].