电池巨头，又遭"空袭"！ 据最新消息，韩国动力电池龙头企业LG新能源公告，科德宝集团旗下业务部门已取消了与公司签订的3.9万亿韩元电动汽车电 池供应合同。这意味着，在不到十天的时间内，LG新能源已损失了13.5万亿韩元的合同，折合人民币约650亿元。 出售美国资产 当地时间周三（12月24日），LG新能源公告，公司拟以4.2万亿韩元（约合28.6亿美元）的价格，将其位于美国俄亥俄州的L- H电池公司相关资产出售给本田美国子公司，该交易预计将于明年2月底正式完成交割。根据LG新能源发布的监管文件，此次 交易不包含土地与设备，旨在提升合资企业的运营效率。 根据LG新能源向监管机构提交的文件，该公司将向本田美国子公司出售合资企业L-H Battery Company的厂房及所有建筑相关 设施（土地与生产设备除外）。合资企业将通过租赁协议继续使用该设施，生产与运营计划保持不变。此次通过转为租赁模 式，LG新能源有望削减占总投资最大比例的建造成本，从而缓解财务压力。LG新能源指出，此举是其应对全球电动车市场低 迷及美国消费者电动车补贴退坡所带来的不确定性，盘活固定资产占用资金的战略举措之一。 几天之前，LG新能源被福特 ...

Group 1 - Kelu Electronics has established a new energy storage company with a registered capital of 10 million yuan, holding 99% of the shares [3] - Kelu Electronics, as a veteran in the energy storage industry, offers comprehensive self-manufacturing capabilities for key components and systems, providing one-stop services for customers [4] - PowerCo, a subsidiary of Volkswagen, has begun construction of a 90 GWh battery factory in Canada with an estimated total investment of 7 billion CAD (approximately 5 billion USD) [5] Group 2 - China Science Electric announced a transfer of 5.001% of its shares to a state-owned investment fund for approximately 800 million yuan, marking a significant upgrade in its supply chain collaboration [6] - Nandu Power's project in Zhejiang is progressing well, with an investment exceeding 1 billion yuan and an expected annual production capacity of 5.6 GWh of lithium batteries [7] - Samsung SDI has reached an agreement with Tesla to supply approximately 30 GWh of energy storage system batteries over the next three years, valued at around 150 billion yuan [8] Group 3 - LG Energy Solution reported a Q3 revenue of approximately 5.7 trillion KRW, with a 22.2% increase in operating profit, benefiting from policy subsidies [9] - Times Qi Ji New Energy Technology has been established with a registered capital of 5 million yuan, focusing on emerging energy technology research and battery sales [10][11] - Wuliangye has announced a tender for a 10 MW/20 MWh energy storage system project, indicating its entry into the energy storage sector [12] Group 4 - Pylon Technologies has opened a subsidiary in Australia, marking its expansion into the Australian market [13] - EVE Energy has secured a strategic partnership with EVO Power to supply 2.2 GWh of energy storage batteries over the next five years [14] - Samsung C&T is entering the Japanese energy storage market through a joint venture with Irex, focusing on large-scale energy storage systems [15] Group 5 - Hichain Energy has signed a strategic cooperation agreement with El-Mor for a 1.5 GWh long-duration energy storage project in Israel [16] - A report indicates that the revenue growth of lithium battery copper foil companies is improving, with significant increases in revenue for companies like Defu Technology and Jiayuan Technology [18] - A lithium battery water-based anode binder project has been signed in Hubei, with an investment of 105 million yuan expected to enhance the local supply chain [19] Group 6 - Peking University and OneD Battery Sciences have signed a joint development agreement to advance silicon-based anode materials for lithium-ion batteries [20][21] - New Energy Company has reported a significant increase in the export volume of lithium hexafluorophosphate, indicating strong overseas demand [22][23] - Yifei Laser has secured a 1.9 billion yuan order for lithium battery equipment assembly lines, which is expected to positively impact future financial performance [25] Group 7 - Hymson has established a strategic partnership with Swiss semiconductor testing company Attolight AG, marking its entry into high-end material testing [26] - The Mannester intelligent equipment production base project has commenced in Huai'an, indicating growth in the intelligent manufacturing sector [27] - Gree's latest performance report shows a significant increase in the recycling and dismantling of power batteries, with a total of 36,643 tons recycled in the first three quarters [29] Group 8 - Zhongxin Innovation has established a new company focused on battery manufacturing and recycling, with a registered capital of 1 billion yuan [30][31] - A lithium battery recycling project in Hubei has entered trial production, with a capacity to process 20,000 tons of retired batteries annually [32] - Anhui Jinxiangzi New Energy Technology is planning a 100,000-ton battery recycling project, with a phased approach to increase capacity [33] Group 9 - Zhongxin Innovation has launched a new 5C supercharging battery pack for the Xiaopeng X9, emphasizing high energy capacity and fast charging [35] - BYD has reaffirmed its commitment to lithium iron phosphate battery technology, highlighting its safety and reliability in electric buses [36] - WM Motor has relaunched its app, restoring key functionalities for vehicle control and information synchronization [37] Group 10 - Chuangneng New Energy has officially entered the automotive manufacturing sector, utilizing the former WM Motor factory [38] - CATL is facing increased demand from multiple automakers as they rush to secure battery supplies ahead of upcoming policy changes [39]

Investment Rating - The report recommends a "Buy" rating for the industry, predicting that the industry index will outperform the Shanghai Composite Index by 10% or more in the upcoming period [4]. Core Insights - In Q3 2025, the company reported a revenue of 5.7 trillion KRW, a quarter-on-quarter increase of 2.4%, but a year-on-year decrease of 17.1%. The slight growth compared to the previous quarter is attributed to increased production of energy storage system batteries at the Michigan plant and new product launches for electric vehicles and IT clients [1][2]. - The operating profit for Q3 2025 reached 601.3 billion KRW, reflecting a quarter-on-quarter increase of 22.2% and a year-on-year increase of 34.2%, with an operating profit margin of 10.5% [1]. - The net profit for Q3 2025 was 536 billion KRW, showing a significant quarter-on-quarter increase of 489.0%, but a year-on-year decrease of 4.5% [2]. Financial Performance Summary - The company’s Q3 2025 financial performance indicates a gross profit of 1.447 trillion KRW, with a gross profit margin of 25.4% [7]. - The operating profit excluding production incentives was 236 billion KRW, with a margin of 4.1% [7]. - The company held cash and cash equivalents of 5.324 trillion KRW at the end of Q3 2025, a slight decrease from 5.44 trillion KRW at the end of the previous quarter [2][10]. Market Outlook and Strategic Response - The company anticipates a short-term slowdown in electric vehicle demand in the U.S. due to the expiration of EV subsidies, but expects a long-term increase in demand driven by advancements in artificial intelligence and autonomous driving services [3][5]. - The company plans to continue investing in diverse product forms and chemical compositions to meet specific market needs, focusing on high-nickel NCMA soft-pack batteries and 46-series cylindrical batteries for high-performance segments [6][5]. - The report highlights that the U.S. energy storage system market is expected to grow robustly, supported by the elimination of regulatory uncertainties and strong electricity demand from AI data centers [5].

Investment Rating - The report recommends a "Buy" rating for the industry, predicting that the industry index will outperform the Shanghai Composite Index by 10% or more during the specified period [5]. Core Insights - In Q3 2025, the company's battery business revenue decreased by 23.2% year-on-year to 2.82 trillion KRW, with an operating loss of 630.1 billion KRW attributed to a slowdown in electric vehicle battery sales and tariffs on energy storage system batteries in the U.S. [2][3] - The company has signed supply contracts exceeding 110 GWh with several global automotive groups and has secured a significant portion of orders in a government-led energy storage system project [3]. - The company plans to enhance its presence in the energy storage system market and improve operational efficiency, with a projected annual production capacity of 30 GWh for energy storage system batteries in the U.S. by the end of next year [6]. Financial Performance Summary - For Q3 2025, the company's total revenue was 3.05 trillion KRW (21.3 billion USD), a decrease of 22.5% year-on-year and 4% quarter-on-quarter [1]. - The operating loss for Q3 2025 was 591.3 billion KRW (4.16 billion USD), marking a shift from profit to loss compared to the previous year [1][2]. - The company's cash and cash equivalents remained stable at 2.15 trillion KRW at the end of Q3 2025, compared to 2.15 trillion KRW in Q2 2025 [1]. Business Segment Performance - The battery business revenue was 2.82 trillion KRW, down 23.2% year-on-year and 4.8% quarter-on-quarter, with an operating loss of 630.1 billion KRW [2]. - The electronic materials business generated revenue of 231.8 billion KRW, a 6.2% increase from the previous quarter but a 12.1% decrease year-on-year, with operating profit rising by 17.6% to 38.8 billion KRW [2].

Core Viewpoint - Korean battery companies are accelerating their entry into the global energy storage battery market through the development of lithium iron phosphate (LFP) battery technology, with Samsung SDI in discussions with Tesla for battery supply agreements [3][4]. Group 1: Market Developments - Samsung SDI is reportedly set to supply approximately 10 GWh of energy storage system batteries annually to Tesla for at least the next three years, totaling around 30 GWh and potentially exceeding 3 trillion KRW (approximately 150 million RMB) in procurement value [4]. - The global energy storage lithium battery shipment reached 315.8 GWh in the first half of the year, marking a 98% year-on-year increase, with leading companies including CATL, EVE Energy, and BYD [4][6]. Group 2: Competitive Landscape - The top ten companies in energy storage battery shipments do not include the three major Korean battery firms: LG Energy Solution, Samsung SDI, and SK On [5]. - The shift towards lithium iron phosphate batteries is driven by safety concerns and higher costs associated with ternary lithium batteries, positioning Korean companies as significant competitors to Chinese firms in the energy storage sector [7]. Group 3: Strategic Initiatives - Korean battery companies are making progress in LFP battery production, with Samsung SDI planning to achieve mass production by 2026 and establishing production capacity in Indiana, USA [8]. - LG Energy Solution has signed a $4.3 billion (approximately 303 million RMB) supply agreement with Tesla for LFP batteries, with production set to begin in Michigan [8]. - SK On is converting part of its Georgia factory's EV battery production lines to LFP energy storage systems, aiming for mass production by the second half of 2026 [9]. Group 4: Market Trends - The demand for electric vehicles in Europe and the US is currently weak, prompting the three major Korean battery companies to focus on energy storage as a primary strategy for business restructuring and improving operational capabilities [10].

Group 1 - Samsung SDI has secured a 3 trillion KRW (approximately 14.91 billion RMB) order to supply energy storage system batteries to Tesla for a duration of three years [1] - Samsung SDI has recently announced the mass production of the 4695 cylindrical battery, becoming the first company in South Korea to produce this type of battery [2] - The 4695 battery is produced at the Cheonan factory in South Korea and assembled in Vietnam, primarily targeting the micro-mobility market [2] Group 2 - Samsung SDI has initiated dry electrode verification work, which is expected to reduce the cost of all-solid-state batteries and enhance manufacturing competitiveness [2] - The company is actively expanding into the U.S. market, planning to collaborate with General Motors to build a battery factory in Indiana and considering converting some facilities to produce lithium iron phosphate batteries [2] - In the robotics battery sector, Samsung SDI has signed an agreement with Hyundai Kia to jointly develop high-performance batteries tailored for the robotics industry [2]

Core Viewpoint - Samsung SDI has secured a 3 trillion KRW (approximately 14.91 billion RMB) order to supply energy storage system batteries to Tesla for a duration of three years [1]. Group 1: Samsung SDI's Recent Developments - Samsung SDI has not made any final decisions regarding the Tesla order, and Tesla has not responded to requests for comments [2]. - On April 1, Samsung SDI announced the mass production of the 4695 cylindrical battery, becoming the first company in South Korea to produce this type of battery [2]. - The 4695 battery has a diameter of 46mm and a height of 95mm, produced at the Cheonan factory in South Korea and assembled in Vietnam, primarily targeting the micro-mobility market [2]. Group 2: Technological Innovations and Market Expansion - On June 18, Samsung SDI initiated dry electrode verification work, which is expected to reduce the cost of all-solid-state batteries and enhance manufacturing competitiveness [2]. - The company is actively expanding into the U.S. market, planning to collaborate with General Motors to build a battery factory in Indiana and considering converting some facilities to produce lithium iron phosphate batteries [2]. - In the robotics battery sector, Samsung SDI has signed an agreement with Hyundai Kia to jointly develop high-performance batteries tailored for the robotics industry [2].

Group 1 - The first "land aircraft carrier" flying vehicle from Huitian Aviation Technology has successfully rolled off the production line, marking the world's first mass production line for flying cars [2] - The Rover X1, a family smart robot developed by Yujian Robotics, has been launched at a price of 7,499 yuan, featuring innovations in dual-vision tracking, all-terrain capabilities, and a self-developed open platform for multi-role applications [2] - China successfully launched the Remote Sensing Satellite No. 46 using the Long March 7 rocket, which will be used for disaster prevention, land resource investigation, and meteorological applications [2] Group 2 - Samsung SDI has secured a 3 trillion won order to supply energy storage system batteries to Tesla over a three-year period, although no final decisions have been made yet [2]

Group 1 - Major stock index futures are showing positive movement, with Dow futures up 0.15%, S&P 500 futures up 0.36%, and Nasdaq futures up 0.54% [1] - Chinese concept stocks are mostly rising in pre-market trading, with notable increases from Xiaopeng Motors (up 1.27%), NIO (up 1.24%), Baidu (up 1.01%), Bilibili (up 1.05%), and Miniso (up 1.64%) [1] - Chip stocks are also experiencing gains, with Nvidia up 1.19%, AMD up 1.00%, and Intel up 0.83% [1] Group 2 - Tesla has reached an agreement with Samsung SDI to purchase energy storage batteries worth over 3 trillion Korean won (approximately $21.1 billion) over the next three years, leading to a 0.49% increase in Tesla's stock [1] - Berkshire Hathaway reported a record cash reserve of $381.7 billion for Q3, with operating profit increasing by 33.6% year-over-year to $13.49 billion, as the company continues to divest from stocks like Apple and Bank of America [1] Group 3 - ExxonMobil's CEO stated that the company may exit the European market if the EU does not significantly relax sustainable development regulations, which impose penalties of 5% of global revenue for non-compliance [2] - Micron Technology's stock rose over 4% following reports that Samsung has paused DDR5 memory contract quotes, leading to a 25% increase in spot prices for DDR5 memory within a week [2] Group 4 - Several companies in the Middle East, including ADNOC and Masdar, have signed strategic agreements with Microsoft to accelerate the deployment of artificial intelligence within ADNOC's value chain and support Microsoft's global AI and data center expansion [2]

Core Viewpoint - Samsung SDI has secured a 3 trillion KRW (approximately 14.91 billion RMB) order to supply energy storage system batteries to Tesla for a duration of three years [1]. Group 1: Samsung SDI Developments - Samsung SDI has not made any final decisions regarding the Tesla order [3]. - The company recently announced the mass production of the 4695 cylindrical battery, becoming the first in South Korea to produce this specification [3]. - The 4695 battery, with a diameter of 46mm and height of 95mm, is produced at the Cheonan factory and assembled in Vietnam, primarily targeting the micro-mobility market [3]. Group 2: Technological Innovations - Samsung SDI initiated dry electrode verification work on June 18, which is expected to reduce the cost of all-solid-state batteries and enhance manufacturing competitiveness [3]. - The company is actively expanding into the U.S. market, planning to collaborate with General Motors to build a battery factory in Indiana and considering converting some facilities to produce lithium iron phosphate batteries [3]. Group 3: Partnerships and Collaborations - Samsung SDI has signed an agreement with Hyundai Kia to jointly develop high-performance batteries specifically for the robotics industry, addressing the current lack of dedicated batteries in this sector [3].