Group 1 - The core viewpoint of the news is that Zhejiang Nandu Power Supply Co., Ltd. is actively engaging in the energy storage market, showcasing its advancements in lithium-ion and lead-acid battery technologies, and emphasizing its commitment to innovation and global expansion [1][2] - Nandu Power has over 30 years of experience in energy storage, starting from communication storage and now focusing on various applications, including new energy storage, communication and data center storage, and residential storage [1] - The company ranks third in global market shipments of energy storage systems (DC side) in 2024 and second among Chinese companies in shipments of batteries for base stations and data centers [1] Group 2 - In the data center business, Nandu Power generated approximately 850 million yuan from lead-acid products and about 500 million yuan from lithium products in the first half of the year [2] - The company has established long-term partnerships with major domestic internet companies, operators, and financial institutions, and has collaborated with large integrators to promote high-power lithium battery systems for data centers [2] - Nandu Power achieved profitability in the second quarter, driven by high-margin orders in key global energy storage markets and rapid growth in the data center market with a diversified customer base [2] Group 3 - Nandu Power has made progress in solid-state battery technology, achieving commercial application in a global gigawatt-level energy storage project, with energy density reaching 350 Wh/kg [2] - The company's development strategy focuses on a dual-driven model of "technology research and development + market expansion," aiming for differentiated competition and continuous advancement in lithium battery-related businesses [2]

Group 1: Report Title and Core View - The report is titled "Carbonate Lithium: Limited Drivers, Range-bound Fluctuations Likely to Continue" with a core view that the driving forces for carbonate lithium are limited and range-bound fluctuations may continue [1] Group 2: Fundamental Data Futures Contracts - For the 2509 contract, the closing price was 79,580, the trading volume was 15,885, and the open interest was 44,710. Compared to T - 1, the closing price increased by 400, the trading volume decreased by 7,290, and the open interest decreased by 6,374 [2] - For the 2511 contract, the closing price was 79,380, the trading volume was 626,916, and the open interest was 368,667. Compared to T - 1, the closing price increased by 420, the trading volume decreased by 305,759, and the open interest increased by 6,413 [2] Other Data - The warehouse receipt volume was 25,630, up 640 from T - 1 [2] - The spot - 2509 spread was 2,920, down 1,800 from T - 1; the spot - 2511 spread was 3,120, down 1,820 from T - 1 [2] - The 2509 - 2511 basis was 200, down 20 from T - 1; the electric carbon - industrial carbon spread was 2,300, unchanged from T - 1 [2] - The spot - CIF spread was 13,486, down 1,122 from T - 1 [2] Raw Materials and Lithium Salts - Lithium spodumene concentrate (6%, CIF China) was priced at 925, down 9 from T - 1 [2] - Lithium mica (2.0% - 2.5%) was priced at 1,995, down 60 from T - 1 [2] - Battery - grade carbonate lithium was priced at 82,500, down 1,400 from T - 1; industrial - grade carbonate lithium was priced at 80,200, down 1,400 from T - 1 [2] Industry Chain - Related Products - Prices of various products such as battery - grade lithium hydroxide, lithium iron phosphate, ternary materials, lithium hexafluorophosphate, and electrolytes also showed different changes compared to T - 1 [2] Group 3: Macro and Industry News - SMM's battery - grade carbonate lithium index price was 82,519 yuan/ton, down 1,406 yuan/ton from the previous working day. The average price of battery - grade carbonate lithium was 82,500 yuan/ton, down 1,400 yuan/ton; the average price of industrial - grade carbonate lithium was 80,200 yuan/ton, down 1,400 yuan/ton [3] - Ganfeng Lithium (002460.SZ) reported that its first - half revenue was 8.376 billion yuan, a year - on - year decrease of 12.65%. The net profit attributable to shareholders was - 531 million yuan, compared with a loss of 760 million yuan in the same period last year. The company completed the development of a 304Ah square energy - storage solid - state battery and plans to launch 314Ah and 392Ah solid - state batteries by the end of this year [3][4] Group 4: Trend Intensity - The trend intensity of carbonate lithium is 0, indicating a neutral view, with the value range being integers in the [-2, 2] interval [4]

Core Insights - The second China International Solid-State Battery Technology Industrialization Development Forum will be held from June 26-28, 2025, in Wuxi, Jiangsu, where Ganfeng Lithium will present advancements in solid-state battery materials and energy storage applications [1] - Ganfeng Lithium has established a comprehensive product layout covering battery materials, cells, battery cabinets, energy storage containers, and energy storage power solutions, making it the only company in the industry to operate the entire supply chain from raw materials to battery recycling [5] - The company has delivered over 21 GWh of energy storage battery products and has invested in and constructed energy storage stations exceeding 20 GWh [5] - The room temperature ionic conductivity of the developed oxide solid electrolyte material reaches 1.5 mS/cm, and the company has achieved stable preparation of 25-micron ultra-thin electrolyte ceramic sheets [5] - The developed sulfide solid electrolyte material has a room temperature ionic conductivity exceeding 12 mS/cm, with low-cost batch production of lithium sulfide and sulfide electrolyte materials [5] - The 304Ah solid-state energy storage cell has surpassed 4000 cycles in lifespan testing, demonstrating advantages in safety, low-temperature performance, and storage compared to liquid batteries [6] - The 304Ah cell maintains a higher overall capacity retention, especially showing improved stability during the first 1000 cycles, and exhibits zero voltage drop during an 8mm puncture test, indicating robust safety performance [6] - Ganfeng Lithium has innovatively constructed a "6-BTR" high-safety energy storage system strategy, providing multi-level protection and achieving certification for its lithium storage battery products [6] - The company's storage technology and products, integrating high-performance solid electrolytes and innovative cell designs, contribute to the development of high-safety, long-life, and wide-temperature range products for a cleaner and more sustainable energy system [8]

Group 1 - The core viewpoint of the article highlights the advancements in solid-state battery technology by Weihai Jinhong Technology Co., Ltd, which has successfully launched a solid-state battery product with a capacity of 50Ah, achieving design specifications in energy density and exceeding 8000 cycles in performance [1] - The company plans to establish a new production line for square solid-state batteries (280) by 2025 and aims to introduce a new generation of solid-state batteries this year, which are expected to significantly improve energy density and cycle performance compared to existing industry products [1] - Weihai Jinhong Technology is a high-tech enterprise focused on the research and production of solid-state batteries, leveraging a research team from Harbin Institute of Technology and holding over 20 invention patents related to solid-state batteries [1]