1月11日，深交所公告，因珠海市赛纬电子材料股份有限公司(简称"珠海赛纬")、保荐人撤回发行上市申请，根据有关规定，深交所决定终止其发行上市审 核。 锂离子电池电解液行业目前暂未形成垄断竞争格局，头部化集中较为明显。根据鑫椤锂电统计数据，2022年我国锂离子电池电解液出货量前五大企业占比均 未超过50%，天赐材料（002709）出货量占比为35.8%，位列第一；其次是新宙邦（300037），出货量占比为13.3%；比亚迪（002594）的出货量占比位列第 三，其生产的锂离子电池电解液为自用；瑞泰新材（301238）出货量占比为10.0%，位列第四；珠海赛纬出货量占比排名第八。 2023年上半年我国锂离子电池电解液出货量前五大企业占比均未超过50%，天赐材料出货量占比为36.0%，位列第一；其次是比亚迪，其生产的锂离子电池 电解液为自用；新宙邦的出货量占比为11.5%，位列第三，瑞泰新材出货量占比为9.0%，位列第四；珠海赛纬出货量占比排名第五。 业绩方面，2021年至2023年上半年，珠海赛纬分别实现营收12.66亿元、18.35亿元和5.93亿元，净利润分别为0.56亿元、2.1亿元和0.58亿元。 值得注 ...

一、电解液是什么？ 电解液（electrolyte）是指在溶液或熔融状态下能够导电、并参与电化学反应的物质。简单来说，它里 面含有可以自由移动的离子，这些离子在电场作用下定向移动，从而实现电荷的传输。 如果要形象的理解，它就是联接正极与负极的一条"高速公路"，充电的时候让锂离子快速的从正极开往 负极，让能量能够存储起来，而放电的时候又让锂离子快速的从负极开往正极，能够实现能量的快速释 放。 二、电解液的作用 离子传导中枢：电解液不仅决定体相电导率，更通过溶剂化结构调控离子迁移数；高迁移数可降低浓差 极化，使高倍率充放电下的容量保持率由"可接受"跃升至"优异"。 三、2025年电解液市场仍保持高速增长，投资者或可借助相关ETF产品进行配置 2025年电解液市场仍保持高速增长：近日，研究机构EVTank联合伊维经济研究院共同发布了《中国锂 离子电池电解液行业发展白皮书(2026年)》。EVTank统计数据显示，2025年全球锂离子电池电解液出货 量同比增长44.5%达到240.2万吨，其中中国电解液实际出货量达到223.5万吨，在全球电解液市场占比 提升至93.05%。 从上市公司来看，12月30日晚间，天赐材料 ...

2026年伊始，首批深市上市公司2025年年度业绩预告率先披露，盐湖股份、天赐材料、华菱钢铁、首钢 股份、孩子王、传化智联等多家企业集中释放业绩向好积极信号。 首钢股份2025年业绩稳健攀升，预计归母净利润9.2亿元至10.6亿元，同比增长95.29%至125.01%。公司 聚焦"制造+服务"双轮驱动，重点推进电工钢、汽车板等高端产品研发生产，首发多款高端产品，战略 产品产量稳步增长。凭借技术创新、绿色制造与精准服务的核心优势，公司在高端钢材市场竞争力持续 提升，为业绩增长注入持久动力。 母婴零售龙头孩子王2025年业绩持续向好，预计归母净利润2.75亿元至3.3亿元，同比增长51.72%至 82.06%，实现连续三年净利润增长。公司实施"扩品类、扩赛道、扩业态"三扩战略，通过密集并购完善 业务布局，收购的乐友国际成为业绩重要支撑，2024年贡献净利润占比达58%；2025年收购丝域生物切 入养发护发赛道，进一步拓宽服务边界。同时，公司强化单客经营与精细化运营，完善"短链+自营"供 应链体系，布局下沉市场精选加盟店，推动自营业务稳健增长。 传化智联凭借"物流+化学"双主业协同优势，2025年业绩大幅增长，预计 ...

2026年伊始，首批深市上市公司2025年年度业绩预告率先披露，盐湖股份（000792）、天赐材料 （002709）、华菱钢铁（000932）、首钢股份（000959）、孩子王（301078）、传化智联（002010）等 多家企业集中释放业绩向好积极信号。 从业绩表现来看，这些公司业绩均实现同比大幅增长，覆盖化工、新能源、钢铁、消费服务、智慧物流 等多个关键领域。 传化智联凭借"物流+化学"双主业协同优势，2025年业绩大幅增长，预计归母净利润5.4亿元至7亿元， 同比增长256.07%至361.57%。2025年，公司两大主业发力各有侧重，双轮驱动业绩增长，其中，化学 业务聚焦市场需求，优化营销策略；物流业务持续优化资产结构，聚焦优势业务，提升盈利能力。此 外，传化智联充分发挥自身场景、业务优势，积极聚焦"场景+科技+应用"的转型，包括开放场景资 源，积极拥抱AI；积极探索具身智能场景应用；探索试点无人车运输；签约国际头部企业，积极推进 化学业务先进技术和产能出海；加快物流领域新能源"电力"布局等。 尽管所处行业赛道不同、业务模式各异，但这些企业凭借核心竞争力筑牢增长根基，共同勾勒出深市上 市公司韧性十足、 ...

Core Viewpoint - The first batch of Shenzhen-listed companies has released optimistic performance forecasts for 2025, indicating significant year-on-year growth across various sectors, including chemicals, new energy, steel, consumer services, and smart logistics, reflecting the resilience and recovery of the real economy [1][7]. Group 1: Performance Highlights - Salt Lake Co., as a leader in the potassium fertilizer industry and lithium extraction, expects a net profit of 8.29 billion to 8.89 billion yuan for 2025, representing a year-on-year increase of 77.78% to 90.65% [3]. - Tianqi Lithium, a global leader in lithium-ion battery electrolyte, anticipates a net profit of 1.1 billion to 1.6 billion yuan, with a growth rate of 127.31% to 230.63% [3]. - Huazhong Steel is projected to achieve a net profit of 2.6 billion to 3 billion yuan, reflecting a year-on-year increase of 27.97% to 47.66% [3]. - Shougang Group expects a net profit of 920 million to 1.06 billion yuan, with a growth of 95.29% to 125.01% [4]. - Kidswant, a leading maternal and infant retail company, forecasts a net profit of 275 million to 330 million yuan, marking a growth of 51.72% to 82.06% [4]. - Chuanhua Zhihui anticipates a net profit of 540 million to 700 million yuan, with a significant increase of 256.07% to 361.57% [5]. Group 2: Common Characteristics of Companies - The companies exhibit five common characteristics: technological innovation, industry dividends, lean management, capital empowerment, and accelerated transformation, which are crucial for high-quality development [7]. - R&D investment and technological breakthroughs are key drivers of performance growth, with companies focusing on overcoming critical technologies and enhancing product value [7][8]. - The companies benefit from industry growth, with Salt Lake Co. and Tianqi Lithium capitalizing on the recovery of potassium and lithium markets, respectively [7]. - Operational efficiency and supply chain management are emphasized, with companies optimizing costs and enhancing profitability through integrated operations [8]. - Effective use of capital market tools has accelerated growth, with various companies employing strategies such as share buybacks and mergers to expand their business [8].

Core Viewpoint - The price of lithium hexafluorophosphate has surged over 200% in four months, with some market quotes exceeding 150,000 yuan per ton, indicating a significant impact on the new energy industry [1] Industry Summary - Lithium hexafluorophosphate, also known as lithium salt, is a critical material for lithium-ion battery electrolytes, directly affecting battery energy density, fast charging performance, and safety stability [1] - The industry is highly concentrated, with the top five companies holding approximately 70% of the market share [1] - Following a period of low demand over the past two years, many companies slowed their investment pace; however, the current rapid demand surge has led to a noticeable supply-demand imbalance [1] - Industry insiders predict that the tight supply-demand balance for lithium hexafluorophosphate may persist until 2026, suggesting further price increases are possible [1] - The overall supply tightness in the industry is expected to lead to a sustained recovery in profitability across the supply chain [1]

Core Insights - The 2025 (21st) China Carbonate Industry Chain Innovation Development Conference and Lithium-ion Battery Electrolyte Technology and Market Exchange Conference aims to address industry challenges and opportunities through technological, product, and supply chain innovations [1] - The conference emphasizes collaboration among enterprises to stimulate industry vitality and aims to provide practical solutions for development challenges in the carbonate and electrolyte industries [1] Group 1: Conference Overview - The conference is organized by China Chemical News and the Carbonate Industry Think Tank, with support from various companies and institutions [1] - Key supporting organizations include Shida Shenghua New Materials Group Co., Ltd., Tangshan Haoyu Technology Development Co., Ltd., and others [1] Group 2: Agenda Highlights - The conference will feature a series of reports and discussions on topics such as green catalytic energy-saving synthesis processes for carbonate derivatives and new technologies for the direct conversion of methanol to DMC [2] - Other topics include energy-saving technology advancements for dimethyl carbonate and innovations in emerging application fields [2] Group 3: Focus Areas - The conference will address innovations in battery electrolyte materials, including the latest developments in solvents and additives for lithium battery electrolytes [3] - It will also explore the impact of new energy storage policies and growing overseas market demand on industry development opportunities [3] Group 4: Additional Activities - A closed-door meeting will be held to discuss national industrial policies, current industry status, ongoing projects, pricing systems, market expansion, and future development opportunities [3] - The conference aims to build a platform for industry-academia-research collaboration to support enterprise needs [4]

Core Viewpoint - Jiangsu Guotai announced the termination of its 400,000-ton lithium-ion battery electrolyte project, which was expected to generate annual sales of over 15 billion yuan and a net profit of approximately 790 million yuan [1][2]. Group 1: Project Overview - The project was initially planned to be a significant investment by Jiangsu Guotai, with a total investment of about 1.538 billion yuan, including 730 million yuan for construction and 810 million yuan for working capital [2]. - The feasibility study projected a payback period of 5.17 years, with production capacity utilization rates expected to reach 100% by the fourth year [2][3]. Group 2: Reasons for Termination - The termination was primarily due to two factors: land delivery issues and changes in the industry environment [4]. - The land for the project, which was won in March 2023, has not been delivered as per the contractual agreement, hindering project progress [4]. - The lithium-ion battery materials sector has seen significant capacity expansion outpacing market demand, leading to oversupply and declining prices, which has compressed profit margins [4]. Group 3: Strategic Decision - The company stated that the decision to terminate the project aligns with its long-term development strategy and aims to optimize resource allocation and enhance capital efficiency [5]. - The project had not yet commenced construction, and the company is actively coordinating with the government regarding land issues [5].