二 〇 二 六 年 度 2026 年 03 月 01 日 碳酸锂：基本面向好，关注市场情绪 | 邵婉嫕 | 投资咨询从业资格号：Z0015722 | shaowanyi020696@gtjas.com | | --- | --- | --- | | 张 航 | 投资咨询从业资格号：Z0018008 | zhanghang2@gtht.com | 报告导读： 本周价格走势：价格稳步抬升，基差走强 本周碳酸锂期货抬升，波幅放大，2605 合约收于 176040 元/吨，周环比上涨 11480 元/吨，2607 合 约收于 176600 元/吨，周环比下跌 15240 元/吨，现货周环比上涨 29500 元/吨至 172000 元/吨。SMM 期 现基差（2605 合约）走强 3480 元/吨至-6900 元/吨，富宝贸易商升贴水报价-740 元/吨，周环比走强 315 元/吨。2605-2607 合约价差-560 元/吨，环比走弱 580 元/吨。 供需基本面：周产环增，但去库格局延续 供给：国内锂盐厂季节性检修，海外供应突发受限。根据路透、新浪财经消息，津巴布韦矿业与矿业发 展部发布关于禁止出口未加工矿产和锂精 ...

张仔伟还表示，二期厂房的产能接近一期厂房的两倍，同时还完成了上千项深化优化与迭代升级，自动 化方面新增更多视觉检测与闭环控制系统，能实现更智能的自主化运行。 （文章来源：广州日报） 据悉，作为融捷集团的子公司，融捷能源于2023年11月投产，建成之初便对标行业最高标准，建有行业 领先的锂电池智能制造数字化工厂，通过采用高速双层挤压涂布机、全自动PACK线等国际先进的自动 化设备，实现产品的一致性和高安全性。同时，通过SAP、PLM、MES等系统搭建的协同制造平台，以 及数据管理平台、数据采集平台等三大平台，可对产线、产量、产品质量等数据进行实时监控和分析处 理，实现数字化制造和管理，智能化水平稳居行业头部。 记者了解到，该公司二期新厂房正处于紧张的设备安装调试阶段。融捷能源工程技术中心负责人张仔伟 透露，为抢抓全球现代储能市场爆发的发展机遇，加之公司订单饱满，团队正全力推进建设，力争二期 新厂房在3月份实现投产，切实保障市场供应。 订单排至年底，马年开工首日满产冲刺！2月24日，广州日报全媒体记者走进广州融捷能源科技有限公 司（简称"融捷能源"）生产车间，车间内机器轰鸣、一派热火朝天的繁忙景象，生产线全线进入 ...

国家统计局公布的数据显示，2026年1月份我国居民消费价格指数（CPI）环比上涨0.2%，同比上涨 0.2%；扣除食品和能源价格的核心CPI同比上涨0.8%。工业生产者出厂价格指数（PPI）环比上涨 0.4%，同比下降1.4%，同比降幅有所收窄，反映出物价温和回升与需求边际改善。 从CPI表现看，同比涨幅回落主要受春节错月影响，但核心CPI仍保持温和上涨态势。上年1月为春节月 份，食品及部分服务价格上涨较多，导致上年同期对比基数偏高，从而带动本月同比涨幅回落。今年春 节在2月份，预计2月份CPI可能出现一定回升。 总体看，1月份物价温和回升有助于改善市场对需求端的预期，也对资本市场信心形成一定支撑。货币 政策方面，2月10日中国人民银行发布2025年第四季度货币政策执行报告，强调适度宽松的货币政策有 效支撑经济稳中有进，金融总量合理增长，融资成本显著下降，重点领域支持更为精准有力。 报告提出，下一阶段将继续实施好适度宽松的货币政策，强调逆周期与跨周期调节，并灵活高效运用降 准、降息等多种政策工具，保持流动性充裕和社会融资条件相对宽松。2025年末社会融资规模存量与广 义货币供应量（M2）同比增速分别为8.3% ...

《中国民航报》、中国民航网 记者肖敏 报道：日前，民航局发布的民航行业标准《危险品航空运输特 定要求 大型锂电池测试方法》（MH/T 1086-2026）正式生效。该行业标准规定了大型锂电池航空运输 的测试条件、热安全性测试、包装件测试和测试报告的要求，实施后将进一步提升大型动力锂电池航空 运输安全水平和保障能力。 据悉，按照国际民航组织《危险物品安全航空运输技术细则》的要求，质量超过35kg的大型动力锂电池 需要经过民航主管部门的特殊批准方可进行航空运输。考虑到我国作为锂电池生产与消费大国，电动汽 车产业快速发展，大型动力锂电池的航空运输需求旺盛，民航局组织行业企业和科研院所，积极联合供 应链上下游相关单位开展研究，充分听取锂电池厂家、锂电池测试机构、民航管理部门、航空公司、机 场的意见，最终编制出台《危险品航空运输特定要求 大型锂电池测试方法》。 该行业标准适用于锂电池生产厂家、检验检测机构等单位开展需经特殊批准的大型锂电池航空运输所需 的测试，从大型锂电池运输条件、热安全性和包装件等多个方面提出了测试要求，关注大型锂电池在航 空运输条件下的安全和在锂电池热失控、热扩散等异常状态下的安全性，切实保障大型锂 ...

Core Viewpoint - The Shandong Times New Energy Battery Production Base is progressing towards the concept of a "lighthouse factory + zero-carbon factory," aiming to enhance battery production capacity and support green energy initiatives [1][2]. Group 1: Production and Technology - The production line at Shandong Times New Energy can produce a battery cell every second, with a defect rate as low as one in a billion [1]. - The total scale of the production project is 160 GWh, making it the largest energy storage and power battery production base in northern China [1]. - The first and third phases of the project have already been put into operation, while the second phase is expected to commence production soon [1]. Group 2: Market and Export - The production base is part of a global network of thirteen manufacturing bases for the company, with a focus on meeting global customer orders [2]. - In 2025, the base is expected to complete the largest single export order for lithium batteries in the province [2]. - A production line developed at the base has been adopted by Ford in the United States, indicating international collaboration [2][4]. Group 3: Environmental Impact - The introduction of five electric cargo ships equipped with high-capacity battery systems marks a significant step towards commercializing electric shipping in the region [5]. - These electric ships are projected to reduce carbon dioxide emissions by over 1,300 tons annually [5]. - The establishment of the battery production base is transforming the local industrial landscape and promoting a new green industrial chain [5]. Group 4: Strategic Development - The company aims to leverage its talent, technology, and supply chain advantages to support Shandong's transition to a national energy green low-carbon demonstration zone [6]. - The focus is on developing high-end equipment for new energy and accelerating the construction of a green transportation network [6]. - Shandong is actively promoting the development of clean energy and aims to create a comprehensive new energy industry development framework [8].

盘面上，大型科技股多数走低，腾讯控股跌近4%，哔哩哔哩、网易跌超3%，百度集团跌近3%，小米集团、美团跌超1%；苹果概念股走弱，丘钛科技、 富智康集团、高伟电子跌超4%，瑞声科技跌超3%，舜宇光学科技跌超1%；半导体股多数下跌，上海复旦跌超5%，华虹半导体跌超4%，中芯国际跌超 2%；应用软件股下挫，金蝶国际跌超12%。 【导读】港股涨跌不一，应用软件股大跌！香港财政司司长陈茂波最新发声 2月4日，港股震荡，三大指数走势分化。 截至收盘，恒生指数涨0.05%，报26847.32点；恒生科技指数跌1.84%，报5366.44点；恒生国企指数跌0.05%，报9048.38点。 锂电池股齐涨，宁德时代（300750）涨超4%；煤炭股上扬，兖矿能源（600188）涨超10%，中煤能源（601898）涨超8%，中国神华（601088）、首钢资 源涨超5%。 | 名称 | 现价 | 涨跌幅 | | --- | --- | --- | | 腾讯控股 | 558.000 | -3.96% | | 0700.HK | | | | 阿里巴巴-W | 159.500 | -0.93% | | 9988.HK | | | | 小米集 ...

Group 1 - The core viewpoint of the articles highlights the rapid economic development and project advancements in the Jiajian County, particularly in the manufacturing and new energy sectors, driven by a supportive business environment and government initiatives [1][3][4] Group 2 - Tiancheng Electric has seen a 60% year-on-year increase in orders, with production scheduled until June, and an average daily shipment of over 30 transformers since the New Year, exporting to over 90 countries [1] - The company has implemented a two-shift system to ensure timely delivery, reflecting the robust demand in both domestic and international markets [1] Group 3 - The lithium battery project in Jiajian County has a total investment of 1.25 billion yuan, with an expected annual output of 560 million batteries, and is projected to generate an annual output value of 930 million yuan by 2025 [2] - The project has already secured orders until August 2026, with a first-quarter output value expected to exceed 300 million yuan [2] Group 4 - The county is set to start 18 new projects in the first quarter of 2026, with a total investment of 2.228 billion yuan, covering high-end equipment, new materials, green energy, and food processing [2] - The compound seasoning production project by Fengjia Sauce Industry is expected to achieve an annual output value of 600 million yuan and create over 500 jobs [2] Group 5 - Jiajian County has introduced 22 measures to optimize the business environment, including tax reductions and streamlined approval processes, resulting in over 88 million yuan in tax relief for businesses [3] - The county has cultivated 54 national high-tech enterprises and 79 national technology-based small and medium-sized enterprises, enhancing the local industrial ecosystem [3] Group 6 - The county aims to leverage technological innovation to drive industrial upgrades and enhance the quality of economic development, with a focus on building a hundred billion-level industrial cluster in the green food sector [4] - The leadership emphasizes the importance of project speed and industrial efficiency to improve the quality of life for residents and achieve economic growth targets [4]

Core Insights - The article highlights the significant advancements in the Xiaoting District's new energy and high-end equipment industries during the 14th Five-Year Plan, showcasing a transition from "catching up" to "leading" in regional economic development [1] Traditional Industry Upgrade - Xiaoting District has revitalized traditional industries through technological upgrades and innovation, with key companies like Yihua Chemical Machinery investing CNY 5.08 billion in a smart manufacturing project, set to become the largest chemical equipment manufacturing base in Central China by 2024 [3] - Qifan Cable has achieved a milestone by producing a continuous length of 35 kilometers of 220 kV submarine cable, delivering a total of approximately 200 kilometers of submarine cables in 2024, demonstrating advanced manufacturing capabilities [3] - Guocheng Coating Plate has increased its annual production from 460,000 tons to 720,000 tons and revenue from CNY 1.96 billion to CNY 4.4 billion, with high-end products making up 45% of its output [5] Emerging Industry Growth - The district has supported the growth of companies like GAC Trumpchi and Beidike Lingyun, attracting leading enterprises such as Faraday Future, fostering a cluster development in the new energy and high-end equipment sectors [5] - GAC Trumpchi's Yichang base has seen production rise, with cumulative sales expected to exceed 490,000 vehicles by the end of 2025, earning accolades as a benchmark smart factory in the automotive industry [5] - Beidike Lingyun has become the largest civil aircraft maintenance base in Central China, establishing a circular economy in aircraft maintenance and modification [7] Future Industry Cultivation - Xiaoting District is focusing on low-altitude economy as a core area for future industry development, attracting leading companies and enhancing the industrial ecosystem [8] - The Guangdong Gaoyu flying car project, set to establish a strategic base in Xiaoting, aims to create a benchmark for low-altitude economy, facilitating local production of flying cars and fostering industry cluster effects [8] - Yichang Stana Aviation Technology Co., a leader in low-altitude economic components, has achieved dual certification from the FAA and CAAC, marking a significant technological milestone in the industry [8] Conclusion - As the 14th Five-Year Plan concludes, Xiaoting District's new energy and high-end equipment industries have shown remarkable growth, with traditional industries revitalized, emerging industries forming clusters, and future industries being strategically developed [10]

Core Viewpoint - Wuxi Lichi Intelligent Equipment Co., Ltd. has applied for the "registration submitted" status for its IPO on the Shenzhen Stock Exchange's Growth Enterprise Market, aiming to raise 1.00816 billion yuan [1] Group 1: Company Overview - The company specializes in automated material handling solutions, including material automatic batching, dispersion emulsification, and mixing [1] - It provides a one-stop service that includes consulting, design, manufacturing, installation, debugging, training, and after-sales support [1] - The company focuses on customized and intelligent material handling systems, covering the entire process from feeding, measuring, conveying, pre-processing, to mixing, dispersion, reaction, and drying [1][2] Group 2: Product and Market Position - The company has developed mature solutions for lithium battery material handling systems, fine chemical processing systems, and composite material processing systems [2] - In the lithium battery sector, the company primarily serves leading clients such as CATL, BYD, and A123 Systems, with market share expected to grow from 27% in 2023 to 43% in 2024 [2] - The lithium battery slurry feeding system market in China is highly concentrated, with the top three companies holding 57% and 71% market shares in 2023 and 2024, respectively [2] Group 3: Financial Performance - The company reported revenues of approximately 619 million yuan, 1.721 billion yuan, 2.173 billion yuan, and 1.189 billion yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [3] - Net profits for the same periods were approximately 95.35 million yuan, 242 million yuan, 299 million yuan, and 151 million yuan [3] - Total assets as of June 30, 2025, are projected to be approximately 4.624 billion yuan, with total liabilities showing a decreasing trend in the debt-to-asset ratio from 86.78% in 2022 to 72.01% in the first half of 2025 [4]

Market Overview - The Hong Kong stock market indices opened high but closed lower, with the Hang Seng Index down 0.1% at 26,559.01 points, the Hang Seng Tech Index down 0.4%, and the National Enterprises Index down 0.34% [1][9][10] - Technology stocks showed mixed performance, with Baidu up over 4% and Bilibili up over 1%, while Xiaomi and NetEase fell over 1% [1][9] Oil Sector - Oil stocks strengthened, with PetroChina rising over 3% [1][9] - The International Energy Agency (IEA) raised its global oil demand growth forecast for this year to 930,000 barrels per day, up from a previous estimate of 860,000 barrels per day, citing improved global economic outlook and lower oil prices [2][10] - Despite the positive demand outlook, the IEA warned of potential oversupply that could offset geopolitical risks [2][10] Gold Sector - Gold stocks experienced a general decline, with Zhenfeng Gold dropping over 6% [1][5] - The international gold market faced a pullback, with gold prices falling below $4,800 per ounce [5][13] - Goldman Sachs raised its gold price forecast for December 2026 to $5,400 per ounce, driven by increased buying from central banks and exchange-traded funds [5][13] Lithium Battery Sector - Lithium battery stocks faced significant declines, with CATL falling over 4% [1][9] - A report from Citi highlighted several headwinds for CATL, including slowing electric vehicle sales in China, rising lithium prices, and cuts to export tax rebates [6][14] - Despite these challenges, Citi projected a compound annual growth rate of 31% for CATL's earnings per share from 2025 to 2027, suggesting attractive risk-reward potential [6][14] New Listings - Longqi Technology saw a strong debut, rising over 4% on its first trading day, with its public offering oversubscribed by approximately 1,149.76 times [1][9][15] - The final offer price was set at the upper limit of the range, between HKD 27.3 and HKD 31.2 [15][16]