商务部公布反制301调查措施 10月14日，美国依据所谓301调查结果，正式对中国海事、物流和造船领域实施港口费等限制措施。 商务部新闻发言人对此表示，中方在相关问题上的立场是明确的、一贯的，打，奉陪到底；谈，大门敞 开。中方敦促美方纠正错误做法，与中方相向而行，通过平等对话协商方式解决双方关切的问题。 同时，商务部发布2025年第6号商务部令，为反制美国对中国采取海事、物流和造船业301调查措施，经 国家反外国制裁工作协调机制批准，中方决定将韩华海洋株式会社5家美国相关子公司列入反制清单， 并采取反制措施。 央行出手：今日将开展6000亿元买断式逆回购操作 据中国人民银行网站10月14日消息，为保持银行体系流动性充裕，2025年10月15日，中国人民银行将以 固定数量、利率招标、多重价位中标方式开展6000亿元买断式逆回购操作，期限为6个月(182天)。 【观网财经丨智能早报10月15日】 日前，上海市经济和信息化委员会印发《上海市智能终端产业高质量发展行动方案(2026-2027年)》，计 划到2027年，上海市智能终端产业持续做大做强，总体规模突破3000亿元，打造3家以上具有全球影响 力的消费级终端品 ...

12、A股投资避雷针︱如意集团：因涉嫌信息披露违法违规 证监会对公司立案；皇庭国际：终止筹划重 大资产出售及债务重组事项。 1、美股三大指数收盘涨跌不一，英伟达跌超4%，中概指数跌1.95%； 2、WTI 11月原油期货收跌1.33%，报58.7美元/桶； 3、美银调查：做多黄金取代做多美股七巨头成最拥挤交易； 4、美银调查：认为AI股估值已陷泡沫的基金经理比例创纪录新高； 5、国际能源署下调今年全球石油需求增长预期； 6、IEA月报：石油市场面临的供应过剩局面将比先前预期更为严峻； 7、甲骨文云自2026年下半年起将部署5万块AMD人工智能芯片； 8、日股收跌2.58%，为4月11日以来最大单日跌幅； 9、美联储主席鲍威尔：可能会在未来数月停止缩表； 10、鲍威尔暗示支持进一步降息，因美国就业市场降温； 11、报复中国不买美大豆，特朗普威胁对华食用油禁运； 12、IMF发布最新报告：预计今年全球经济增速为3.2%； 1、李强：加力提效实施逆周期调节 用足用好政策资源 以改革办法打通堵点卡点； 2、动力电池产业联盟：9月我国动力和其他电池销量为146.5GWh 同比增长42.2%； 3、央行：10月15日将开 ...

格隆汇10月14日｜中国动力电池产业联盟9月数据显示，我国动力和其他电池销量为146.5GWh，环比增 长9.0%，同比增长42.2%。其中，动力电池销量为110.5GWh，占总销量75.5%，环比增长11.8%，同比 增长44.4%；其他电池销量为36.0GWh，占总销量24.5%，环比增长1.0%，同比增长36.1%。1-9月，我 国动力和其他电池累计销量为1067.2GWh，累计同比增长55.8%。其中，动力电池累计销量为 786GWh，占总销量73.7%，累计同比增长48.9%；其他电池累计销量为281.1GWh，占总销量26.3%，累 计同比增长78.9%。 ...

长江期货股份有限公司交易咨询业务资格：鄂证监期货字[2014]1号 【产业服务总部|有色中心】 研究员：汪国栋 执业编号：F03101701 投资咨询号：Z0021167 咨询电话：027-65777106 碳酸锂周报 2025/9/15 01 周度观点 需求端：9月整体排产环比增加，大型电芯厂排产环比增加8%。8月，我国动力和其他电池合计产量为139.6GWh，环比增长4.4%， 同比增长37.3%。动力和其他电池合计出口22.6GWh，环比下降2.6%，同比增长23.9%。动力和其他电池销量为134.5GWh，环比增 长5.7%，同比增长45.6%。以旧换新政策和政策端新能源车购置税的延期也有望持续支撑中国新能源车市场销量的较快增长。 库存：本周碳酸锂库存呈现去库状态，碳酸锂工厂库存增加360吨，市场库存减少2663吨，期货库存增加1994吨。 l 策略建议： 从供应端来看，宁德枧下窝矿山确认停产3个月，中信国安超采被要求停产，江特完成检修后复产，8月国内碳酸锂产量环比增加 7.8%，7月锂精矿进口量环比增加30%，7月锂盐进口环比减少22%，预计后续南美锂盐进口量将对供应形成补充。从需求端来看，储 能终 ...

Macro Economic Group - In August, M2 growth was 8.8% year-on-year, the highest since December 2023, while M1 growth was 6.0%, the highest since January 2023, indicating a significant acceleration in the speed of money circulation [5][6] - The total social financing (TSF) in August was 2.57 trillion yuan, lower than the previous year's figure by 463 billion yuan, with a notable decrease in government bonds and loans [5] - Bank credit increased by 590 billion yuan in August, but this was a year-on-year decrease of 310 billion yuan, indicating a contraction in both household and corporate loans [6] Industry Comprehensive Group - Recent US sanctions on Chinese companies, including Shanghai Fudan, may lead to short-term stock sell-offs, but China's countermeasures could benefit domestic analog chip manufacturers [9] - The global analog chip market is recovering, with price increases from major manufacturers, suggesting improved profitability for domestic firms if anti-dumping investigations succeed [9] Advanced Manufacturing Group - In August, China's battery sales reached 134.5 GWh, a year-on-year increase of 45.6%, with lithium iron phosphate batteries accounting for the majority of the growth [11] - The National Development and Reform Commission aims for new energy storage capacity to reach 180 million kilowatts by 2027, driving significant investment in the sector [12] - The automotive industry is projected to see a 3% increase in total sales in 2025, with a 20% growth in new energy vehicle sales, indicating a shift towards smart and electric vehicles [12] Consumer Group - Jiangnan Buyi reported a total revenue of 5.548 billion yuan for the 2025 fiscal year, a 4.6% increase, driven by online sales and store expansion [14] - The company's membership system plays a crucial role, with over 80% of retail revenue coming from members, highlighting the importance of customer loyalty [14] Bond Research Group - The bond market experienced an overall rise in interest rates, influenced by concerns over high redemption fees for bond funds and a weak inflation outlook [16]

地址：北京市朝阳区朝阳门外大街甲6号万通中心D座20层（100020） 总机：010-8535 6666 本公司具备期货交易咨询业务资格，请务必阅读免责声明。 分析师：王静，执业资格证号 F0235424/Z0000771。 免责声明： 本报告中的信息均来源于公开资料，我公司对这些信息的准确性和完整性不作任何保证。报告中的内容和 意见仅供参考，并不构成对所述品种买卖的出价或征价。我公司及其雇员对使用本报告及其内容所引发的 任何直接或间接损失概不负责。本报告仅向特定客户传送，版权归冠通期货所有。未经我公司书面许可， 任何机构和个人均不得以任何形式翻版，复制，引用或转载。如引用、转载、刊发，须注明出处为冠通期 货股份有限公司。 资讯早间报 制作日期： 2025/09/12 隔夜夜盘市场走势 1. 国际贵金属期货收盘涨跌不一，COMEX 黄金期货跌 0.23%报 3673.40 美元/盎 司，COMEX 白银期货涨 1.12%报 42.07 美元/盎司。 2. 美油主力合约收跌 2.25%报 62.24 美元/桶；布伦特原油主力合约跌 1.78%报 66.29 美元/桶。 3. 伦敦基本金属全线上涨，LME 期铝涨 ...

新华财经北京9月11日电中国汽车动力电池产业创新联盟11日公布了2025年8月动力电池月度信息。其中 产量方面：8月，我国动力和其他电池合计产量为139.6GWh，环比增长4.4%，同比增长37.3%。 1-8月，我国动力和其他电池累计产量为970.7GWh，累计同比增长54.3%。 销量方面：8月，我国动力和其他电池销量为134.5GWh，环比增长5.7%，同比增长45.6%。其中，动力 电池销量为98.9GWh，占总销量73.5%，环比增长8.5%，同比增长44.4%；其他电池销量为35.6GWh， 占总销量26.5%，环比下降1.4%，同比增长49.0%。 1-8月，我国动力和其他电池累计销量为920.7GWh，累计同比增长58.2%。其中，动力电池累计销量为 675.5GWh，占总销量73.4%，累计同比增长49.7%；其他电池累计销量为245.2GWh，占总销量26.6%， 累计同比增长87.6%。 8月，我国动力和其他电池合计出口22.6GWh，环比下降2.6%，同比增长23.9%。合计出口占当月销量 16.8%。其中，动力电池出口量为15.1GWh，占总出口量66.6%，环比增长1.9%，同比增 ...

Core Insights - In June, China's total exports of power and other batteries reached 24.4 GWh, marking a month-on-month increase of 27.9% and a year-on-year increase of 22.5% [1] - Power battery exports accounted for 15.8 GWh, representing 65.0% of total exports, with a month-on-month growth of 17.1% and a year-on-year growth of 16.6% [1] - Other battery exports totaled 8.5 GWh, making up 35.0% of total exports, with a significant month-on-month increase of 54.7% and a year-on-year increase of 35.2% [1] Export Performance - From January to June, cumulative exports of power and other batteries reached 127.3 GWh, reflecting a year-on-year growth of 56.8% [1] - Cumulative exports accounted for 19.3% of total sales in the first half of the year [1] - Cumulative power battery exports were 81.6 GWh, which is 64.1% of total exports, with a year-on-year increase of 26.5% [1] - Cumulative exports of other batteries reached 45.6 GWh, representing 35.9% of total exports, with a remarkable year-on-year growth of 174.6% [1]

Investment Rating - The report assigns a "Buy" rating to several companies in the battery industry, including Ningde Times, Yiwei Lithium Energy, Guoxuan High-Tech, and others, with target prices indicating potential upside [1][18]. Core Insights - The battery industry is experiencing significant growth, with China's power battery installation volume in April 2025 increasing by 52.8% year-on-year, reaching 54.1 GWh [2][3]. - The report highlights that Chinese companies have increased their share in the overseas power battery market to 42% in Q1 2025, with Ningde Times leading the market [2][3]. - The report anticipates a surge in short-term exports of energy storage batteries from China due to the recent reduction in tariffs between China and the U.S. [2]. Summary by Sections Industry Performance - In April 2025, China's total battery production and sales reached 118.2 GWh and 118.1 GWh, respectively, showing year-on-year increases of 49.0% and 73.5% [2]. - The production-to-sales ratio is close to 1, indicating a destocking trend [2]. Export Trends - In April 2025, China's power and other battery exports totaled 22.3 GWh, marking a year-on-year increase of 64.2%, with power battery exports up by 53.6% [2][10]. - Energy storage batteries accounted for 35.2% of total exports, despite a quarter-on-quarter decline [2]. Company Developments - Ningde Times launched upgraded versions of its batteries, including the "Second Generation Shenxing Supercharging Battery" and sodium batteries, enhancing performance metrics significantly [2]. - Yiwei Lithium Energy introduced eight new commercial vehicle battery products, aiming for mass production by 2026 [2]. Market Concentration - The report notes a slight increase in market concentration, with the top three and five companies holding 72.3% and 81.8% of the market share, respectively [2][17].

Core Insights - In April, China's total production of power and other batteries reached 118.2 GWh, showing a slight month-on-month decrease of 0.03% but a year-on-year increase of 49.0% [1] - From January to April, the cumulative production of power and other batteries in China was 444.6 GWh, reflecting a significant year-on-year growth of 67.1% [1] Production and Sales Data - In April, the total sales of power and other batteries amounted to 118.1 GWh, marking a month-on-month increase of 2.3% and a year-on-year increase of 73.5% [1] - Power battery sales were 86.6 GWh, accounting for 73.4% of total sales, with a month-on-month decrease of 1.0% but a year-on-year increase of 72.8% [1] - Other battery sales reached 31.5 GWh, representing 26.6% of total sales, with a month-on-month increase of 12.5% and a year-on-year increase of 75.5% [1] Cumulative Sales Performance - From January to April, the cumulative sales of power and other batteries in China totaled 403.9 GWh, with a year-on-year growth of 73.7% [1] - Cumulative sales of power batteries were 303.9 GWh, making up 75.2% of total sales, with a year-on-year increase of 56.8% [1] - Cumulative sales of other batteries reached 100.0 GWh, accounting for 24.8% of total sales, with a remarkable year-on-year growth of 157.8% [1]