佛塑科技（000973.SZ）1月9日在投资者互动平台表示，公司收购锂电池隔膜企业金力股份100%股权， 将有助于公司发力锂电池隔膜领域，完善新能源产业布局；借助上市公司平台推动金力股份高质量发 展；增强公司持续盈利能力，提高股东投资回报水平。未来，公司持续深耕主责主业，围绕"高分子功 能薄膜与复合材料"产业发展定位，努力提升核心竞争力，提高市场份额，增强行业地位，推动公司高 质量发展。 每经AI快讯，有投资者在投资者互动平台提问：贵司在新能源材料领域的战略布局一直备受关注。请 问： 与金力股份的业务整合，是否旨在通过前沿技术储备强化产业链协同？相关技术是否已具备市场 应用基础？ 在当前行业技术迭代背景下，标的公司在产品性能或工艺方面有哪些独特优势以应对市场 竞争？ 收购完成后，佛塑将如何发挥双方在技术、客户及产能端的协同效应，推动业务纵深发展？ 公 司与紫金矿业的合作是否将助力构建更完善的新能源材料生态？ （文章来源：每日经济新闻） ...

来源 | 野马财经 作者 | 孙梦圆 2025年上半年，金力股份有息负债69.12亿元。 从经营规模看，金力股份年营收约26.3亿元，约为佛塑科技的1.2倍；资产规模达125亿元，是佛塑科技 的2.6倍。三年前，公司曾冲刺科创板，估值约百亿，但最终未能成功。如今，其100%股权作价50.8亿 元，这一估值仍与佛塑科技的总资产规模相当。 佛山材料龙头，吞下了百亿隔膜黑马。 1月5日，佛塑科技公告，其收购金力股份的方案已获证监会同意注册批复。这笔金额近51亿元的并购 案，从2024年10月就开始谋划，历时超一年，终于尘埃落定，这也意味着，这家佛山材料龙头将正式切 入电池薄膜赛道。 浙大城市学院副教授、中国城市专家智库委员会常务副秘书长林先平认为，尽管当前隔膜行业面临价格 战和产能过剩，但长期需求依然向好，此次收购有助于佛塑科技在行业洗牌中抢占先机，为后续技术升 级和高端产品竞争奠定基础。 二级市场上，在新能源产业热潮与资本市场的双重聚焦下，佛塑科技曾一度走出了强劲的股价行情。纵 观2025年全年表现，佛塑科技涨幅接近120%。截至1月7日收盘，佛塑科技报收15元/股，总市值145.1亿 元。 图源：罐头图库 "蛇 ...

Summary of the Conference Call on the Lithium Battery Separator Industry Industry Overview - The global demand for lithium battery separators is expected to reach 19.2 billion square meters by 2025, with total production capacity exceeding 35 billion square meters, indicating a supply surplus situation [1][12] - The overall industry operating rate is approximately 60% [1][17] Key Companies and Their Capacities - Enjie Co., Ltd. has a production capacity of 13 billion square meters [1][13] - Jinneng Co., Ltd. plans significant capacity expansion, targeting a design capacity of 15.8 billion square meters by 2029, with substantial investments in Europe and North America [1][6] - Other major players include Zhongcai Technology with 6.5 billion square meters and New Materials with 4.5 billion square meters [4] Market Dynamics - The demand for high puncture strength 5-micron wet separators is surging, with Jinneng and Lantu capable of large-scale delivery, expected to capture 35%-50% of the market share by 2026-2027, potentially reaching 70% in the future [1][8] - The 5-micron separators are primarily used in power batteries (Ningde Times, Guoxuan High-Tech), energy storage (Haicheng, Zhongxin Innovation), and digital batteries (ATL, Zhuhai Guanyu, Yiwei Lithium Energy) [1][9] Production Technology Trends - Separator production technology is evolving towards wider, faster, and online coating processes, with varying degrees of domestic equipment localization across different stages [1][11][30] - The extrusion stage has a low localization rate of about 5%, while the stretching stage has about 20% [30] Financial Performance and Projections - Jinneng expects its 5-micron separator shipments to account for about half of total shipments in 2026, with a sales target of 4.6 billion RMB, although average prices are anticipated to decline [2][36] - The gross margin for 5-micron products is currently around 35%-40%, with expectations to exceed 50% if raw material localization and production efficiency improvements are achieved [33][34] Customer Base and Pricing Strategy - Major customers include Ningde Times and Yiwei Lithium Energy, which account for a significant portion of Jinneng's sales [27][44] - The company plans to implement a price increase of about 10% for 7-micron and 9-micron products among second and third-tier customers, while top-tier customers like Ningde Times and BYD will not be affected by this price adjustment [41][44] Future Developments - Jinneng is developing 4-micron and 3-micron separators to meet future market demands, with 3 microns considered the limit for liquid lithium battery separators [42] - The company plans to enhance production capacity through equipment upgrades, aiming for a design capacity increase to 7 billion square meters in 2026 [23] Conclusion - The lithium battery separator industry is experiencing rapid growth, driven by increasing demand for high-performance products. Companies are expanding capacities and improving technologies to meet market needs while navigating pricing pressures and competition.

电新：锂电隔膜专家交流 20251228 摘要 2026 年 1 月起，7μm 基膜预计涨价至 0.9 元/平方米，涨幅近 20%， 但仍需关注市场接受度及隔膜行业整体盈利状况对价格稳定性的影响。 公司每月采购隔膜 2.7 亿平方米，其中 5μm 占 7,000 万平方米，7μm 占 2 亿平方米，比例约为 2:3，采购策略侧重湿法隔膜，比亚迪则会采 购部分干法隔膜。 公司选择金利和兰科图作为主要供应商，金利因利润较高被视为核心供 应商重点培养，兰科图则因国产设备及战略合作关系绑定产能，但其扩 产未达预期，合作或受恩捷收购影响。 预计 2026 年需求量为 4.5 亿至 5 亿平方米，将通过引入后生、中财等 新供应商（月供 2000 万平方米），增加金利份额（月产 8 亿平方米， 其中 3 亿为 5μm），以及恩捷收购后的兰科图（7,000-8,000 万平方 米）来满足。 恩捷 5μm 产品验证未通过，或因商务关系及战略考量，未来可能在 2027 年少量采购其自制隔膜以满足市场需求，需关注其与璞泰来矛盾 对供应链的影响。 Q&A 最近比亚迪的 6 伏电池采购价格情况如何？ 比亚迪最近的 6 伏电池采购价格已 ...

记者丨费心懿 编辑丨张伟贤 在锂电池的结构中，正极与负极之间维持着一种危险的平衡。为了防止两极直接接触造成短路，它们必须被一层布满微孔的高分子薄膜物理隔 开。这层膜，就是隔膜。 隔膜的厚度通常以微米计量，7微米到9微米。但恩捷股份（002812.SZ）创始人，董事长Paul Xiaoming Lee（李晓明）和副董事长兼总经理李 晓华这对"李氏兄弟"的目标是将这个间隙做得更薄。 这种近乎透明的薄膜，决定了电池的安全性与能量密度，也决定着一个家族在财富榜上的地位。 12月26日，锂电产业链再掀小高潮，恩捷股份盘中一度触及涨停。截至收盘，恩捷股份报56.71元/股，涨幅9.10%，市值557亿元。 年初至今， 该股涨幅超过70%。 但如果将时间线拉长， 恩捷股份股价较巅峰时期已跌去八成，市值蒸发超过2500亿元。 技术海归的商业嗅觉 李氏兄弟二人的技术基因为后来的创业埋下伏笔。他们所选的第一个赛道是卷烟包装BOPP薄膜。在云南这个烟草大省，这几乎是一门躺着赚 钱的生意。 但李晓明很快意识到，烟草行业的护城河来自特许经营的红利，而非技术的迭代。 2010年，特斯拉正处于濒临破产后的喘息期，而全球新能源汽车产业尚处萌 ...

在锂电池的结构中，正极与负极之间维持着一种危险的平衡。为了防止两极直接接触造成短路，它们必须被一层布满微孔的高分子薄膜物理隔 开。这层膜，就是隔膜。 隔膜的厚度通常以微米计量，7微米到9微米。但恩捷股份（002812.SZ）创始人，董事长Paul Xiaoming Lee（李晓明）和副董事长兼总经理李 晓华这对"李氏兄弟"的目标是将这个间隙做得更薄。 这种近乎透明的薄膜，决定了电池的安全性与能量密度，也决定着一个家族在财富榜上的地位。 12月26日，锂电产业链再掀小高潮，恩捷股份盘中一度触及涨停。截至收盘，恩捷股份报56.71元/股，涨幅9.10%，市值557亿元。年初至今， 该股涨幅超过70%。 但如果将时间线拉长，恩捷股份股价较巅峰时期已跌去八成，市值蒸发超过2500亿元。 2010年，特斯拉正处于濒临破产后的喘息期，而全球新能源汽车产业尚处萌芽期。李晓明成立上海恩捷，切入锂电隔膜。这是一个极具战略眼 光的判断。彼时，国内隔膜市场被日本旭化成、东丽等巨头垄断，国产率不足20%。 而恩捷的崛起，本质上则是一场大规模的"自主创新"，极大程度地帮助了国产锂电产业链在关键材料上实现技术降本以及自主可控。 技术海归 ...

证券日报网讯12月18日，星源材质（300568）在互动平台回答投资者提问时表示，公司致力于聚焦主 业，提高生产稳定性与生产效率，保持公司的可持续发展，持续巩固锂电池隔膜行业领先优势。同时， 公司积极寻求培育新材料、半导体材料领域的战略机会作为未来公司发展的第二增长曲线方向。如有相 关进展，公司将严格按照相关法律法规的要求及时履行信息披露义务。 ...

Macro Economic Group - In November, the industrial added value above designated size grew by 4.8% year-on-year, a decrease of 0.1 percentage points from October, while the cumulative year-on-year growth from January to November was 6.0%, also down by 0.1 percentage points from the previous month [4] - The fixed asset investment year-on-year growth from January to November was -2.6%, the lowest since June 2020, falling short of the Wind forecast of -2.2% and down by 0.9 percentage points from January to October [4] - The retail sales of consumer goods in November saw a nominal year-on-year growth of 1.3%, below the Wind forecast of 2.9%, and down by 1.6 percentage points from October [5] Industry Comprehensive Group - The Ministry of Industry and Information Technology granted conditional approval for the first batch of L3 autonomous driving models, allowing Changan Automobile and BAIC Arcfox to conduct trials in designated areas [9] - STMicroelectronics has delivered over 5 billion RF antenna chips to SpaceX for its Starlink satellite network, with expectations to double the delivery quantity by 2027, indicating a positive outlook for the domestic satellite communication chip industry [9] Advanced Manufacturing Group - The lithium battery separator industry has seen a price increase, with a leading company raising the price of wet-process separators by 30%, and overall price increases expected to reach 20% [11] - The domestic separator shipment volume in the first three quarters of 2025 reached 22 billion square meters, a year-on-year increase of over 40%, driven by strong demand from new energy vehicles and energy storage [11] - The industry is experiencing a structural shift in pricing power, with leading manufacturers maintaining full production capacity and actively pursuing mergers and acquisitions [11] Consumer Group - Domestic personal care products are outperforming foreign brands, with toothpaste sales reaching 1.145 billion yuan in November, a year-on-year increase of 13%, while foreign brands like Colgate saw a decline [13] - The XR device sales in November increased by 128% year-on-year, indicating a growing interest in AI consumer applications, supported by developments from major tech companies like Google [14]

中国经济网北京12月15日讯 恩捷股份(002812.SZ)今日复牌，股价跌停，截至发稿报49.82元，下跌 9.99%。 恩捷股份12月13日披露的发行股份购买资产并募集配套资金预案显示，上市公司拟通过发行股份的 方式向郅立鹏、青岛众智达、陈继朝、杨波、袁军等共63名交易对方购买其合计持有的青岛中科华联新 材料股份有限公司（以下简称"中科华联"或"标的公司"）100%股份。本次交易完成后，标的公司将成 为上市公司全资子公司。经交易各方协商，本次发行价格为34.38元/股。 截至预案签署日，标的公司的审计和评估工作尚未完成，本次交易的具体交易价格尚未确定。 同时，上市公司拟向不超过35名符合条件的特定对象发行股份募集配套资金，本次募集配套资金总 额不超过本次交易中以发行股份方式购买资产的交易价格的100%，且募集配套资金发行股份数量不超 过本次发行股份购买资产完成后上市公司股份总数的30%。最终发行数量以深交所审核通过、中国证监 会同意注册的发行数量为限。 本次募集配套资金发行股份采取询价发行的方式，发行价格不低于上市公司募集配套资金定价基准 日前20个交易日上市公司股票交易均价的80%。最终发行价格将在本次 ...

Group 1: Dairy Industry - The dairy sector has shown strong performance, with stocks like Huangshi Group reaching the daily limit [1][3] - On December 13, a national medical insurance conference highlighted the promotion of maternity insurance and long-term care insurance, which is expected to boost demand in the dairy industry [3] - Recent reports indicate that the baby formula industry has faced demand pressure, but policy support is anticipated to restore consumer confidence and demand [3][5] Group 2: Retail Sector - The retail sector has been active, with Baida Group achieving three consecutive daily limits [6][7] - According to the National Bureau of Statistics, the consumer market remains stable, with service consumption growing rapidly, indicating a positive trend in consumption [7] - The government plans to implement actions to boost consumption, focusing on stabilizing employment and enhancing the quality of supply [7] Group 3: Company Specifics - Enjie Co., a leading separator manufacturer, saw its stock price drop significantly after announcing a merger and acquisition deal [8][9] - The company plans to acquire 100% of Qingdao Zhongke Hualian New Materials Co., which specializes in lithium-ion battery separator production [9]