伴随储能等下游需求爆发，推动锂电产业链进入景气阶段，自25 年10 月起，六氟磷酸锂价格飙升，截 至12 月29 日六氟磷酸锂价格已达到约18 万元/吨，与10 月1 日相比价格涨幅高达195%。公司六氟磷酸 锂产能2.4 万吨/年，预计25 年底技改完成后产能可达3.6 万吨/年，且存在10%-20%的产能弹性空间，受 益于价格上行。 六氟涨价逐步向下游电解液传导，截至12 月29 日电解液价格为约2.6 万元/吨，同期涨幅亦达到约 64%。随着六氟磷酸锂价格抬升，公司将持续受益。 氟化液赛道长坡厚雪，竞争力凸显 六氟及电解液价格上行，盈利进入上行通道 伴随3M 退出，公司迎来国产替代良机，叠加数据中心液冷及半导体等下游行业的增量需求，国内氟化 液市场增长正步入国产替代+需求扩张的双重驱动阶段。公司已建成氢氟醚3000 吨/年、全氟聚醚2500 吨/年产能，此外年产3 万吨高端氟精细化学品项目正稳步推进。 公司有望深度受益于氟化液国产替代及行业扩容机会，随着中长期产能逐步释放，打开天花板。 深化布局新型材料，拓展成长空间 公司前瞻性布局固态电池电解质，公司参股的新源邦已实现氧化物电解质量产，硫化物及聚合物电 ...

Investment Rating - The report maintains a "Buy" rating for the company [2][7] Core Insights - The company is benefiting from the price elasticity of hexafluorophosphate lithium, which has surged by 195% since October 1, 2025, reaching approximately 180,000 yuan/ton by December 29, 2025. This price increase is expected to positively impact the company's profitability as it has a production capacity of 24,000 tons/year, which is projected to increase to 36,000 tons/year by the end of 2025 [4] - The domestic fluorinated liquid market is entering a phase of dual drivers: domestic substitution and demand expansion, particularly following the exit of 3M. The company has established production capacities for hydrogen fluoride ether (3,000 tons/year) and perfluoropolyether (2,500 tons/year), with a high-end fluorochemical project of 30,000 tons/year underway [5] - The company is strategically expanding into new materials, particularly solid-state battery electrolytes, with its affiliate achieving mass production of oxide electrolytes. The acceleration of the solid-state battery industrialization process is expected to open new growth avenues for the company's battery materials business [6] Financial Projections - The company is projected to achieve net profits of 1.2 billion yuan, 1.5 billion yuan, and 1.9 billion yuan for the years 2025, 2026, and 2027, respectively. The earnings per share (EPS) are expected to be 1.57 yuan, 2.06 yuan, and 2.55 yuan for the same years, corresponding to price-to-earnings (PE) ratios of 33, 25, and 20 times [7][9]

中化新网讯 近日，方大炭素新材料科技股份有限公司(以下简称方大炭素)发布公告称，拟报名参与杉杉 集团有限公司(以下简称杉杉集团)及其全资子公司宁波朋泽贸易有限公司(以下简称宁波朋泽)的实质合 并重整投资人招募。 受宏观经济周期波动、下游需求调整及行业竞争加剧等多重因素影响，方大炭素传统业务增长承压。在 业绩整体平稳的表象下，主动开辟新能源材料赛道作为第二增长曲线，已成为方大炭素突破发展瓶颈、 实现长远布局的必然选择。此前，方大炭素已与宁德时代达成战略合作，携手研发锂电负极材料与固态 电池电解质。若能成功整合杉杉股份的产能与市场资源，方大炭素在新能源材料领域将形成"研发合作 +产能整合"的双线推进态势，全产业链协同优势将进一步凸显，核心竞争力有望得到全面提升。 公告披露，截至2月25日，杉杉集团与宁波朋泽合计持有上市公司宁波杉杉股份有限公司(以下简称杉杉 股份)5.26亿股股份，占杉杉股份总股本的23.32%。若方大炭素入局，不仅将为杉杉集团的债务化解与 业务重整注入强劲产业动能，更有望重塑二者在新能源材料领域的竞争格局，推动"炭素+新能源材 料"双主业架构从战略构想落地为产业现实。 ...

（来源：锂电行业动态） 近日，四川青川经济开发区就四川星恒青源新材料科技有限公司新能源电池（含固态电池）材料及锰基前驱体材料建设项目环评进行二次公示。项目位于 四川青川经济开发区庄子碑垭组团，拟建设新能源电池(含固态电池)材料及锰基前驱体材料生产线，采用电解锰水解、高温煅烧等工艺流程，制备高性能 锰基前驱体材料。 项目用地面积约33559.69平方米，总建筑面积为14840.02平方米，总投资为20000.00万元，建设年产50000吨新能源电池(含固态电池)材料及锰基前驱体材 料生产线，生产锰酸锂11250吨/年、磷酸锰铁锂35000吨/年、单晶四氧化三锰3750吨/年。并对现有的单晶四氧化三锰生产线进行技术改造，以多晶四氧化 三锰代替硫酸锰为主要原料，同步改造环保设施。 中国电子节能技术协会电池回收利用专业委员会（简称"电池回收委员会"）筹备组建于2016年，是国内最早开展退役动力电池回收、梯次利用、废旧电池 材料再生和最早搭建动力电池回收专家智库的行业机构。是在动力电池回收与梯次用联盟的基础上组建设立的。 电池回收专委会的业务范围及主要工作：发动并组织新能源汽车、储能、电动自行车、通信等产业链上下游企业 ...

每经AI快讯，有投资者在投资者互动平台提问：董秘，您好，传言公司最近在与某公司进行固态电池 电解质的测试工作，请问是否属实？ 瑞泰新材（301238.SZ）11月27日在投资者互动平台表示，我司与国内外多家固态锂离子电池相关企业 均有合作。固态电池在技术路线、产品路线和商业路线上均有待发展，敬请广大投资者注意投资风险！ （记者 曾健辉） ...

Macro Highlights - The China Securities Regulatory Commission (CSRC) aims to enhance institutional construction and optimize the structure of listed companies, focusing on risk prevention and investor protection [1] - The CSRC emphasizes the importance of listed companies in the capital market and has implemented strict regulations to purify the market ecosystem [1] - The Central Securities Depository and Clearing Company successfully held an online meeting with nearly 30 foreign central bank representatives to discuss investment opportunities in the Chinese bond market [2] Industry Developments - Guangdong Province plans to develop its digital economy, targeting a core industry scale exceeding 440 billion yuan by 2027, with a focus on artificial intelligence and digital transformation [3] - The Chinese Academy of Sciences and the Shanghai Municipal Government signed a cooperation agreement to enhance Shanghai's role as a global technology innovation center [4] - The Hainan Provincial Government and the National Development Investment Corporation signed a strategic cooperation agreement to deepen collaboration in various sectors, including clean energy and digital economy [5] Company News - Moore Threads announced an issuance price of 114.28 yuan per share, with no cumulative bidding inquiry for offline issuance [7] - Pingtan Development and Haixia Innovation have completed stock suspension checks and resumed trading [8][9] - Kela Software has developed a quantum-resistant communication component [10] - ST Lianchuang is in the small-scale testing phase for solid-state battery electrolytes [11] - Heertai is in the business cooperation discussion phase with Moore Threads [12] - Xidian New Energy identifies Tesla as its largest end customer [13] - Lian Micro's silicon wafer shipments continue to reach new highs [14] - Yingtang Intelligent Control's subsidiary is set to undertake MEMS chip customization and module production for the Euromove LBS project [15] - Tianhua New Energy provides products and services for static and micro-pollution control in battery production [16] - Qianyuan High-Tech is facing a proposed acquisition of 20% of its shares by Zhongzhong Group [17] - ST Lian Stone has received a total of 1.238 billion yuan in restructuring investment [18]

Core Viewpoint - The company is focusing on the research and development of polymer-based solid-state battery electrolytes and has obtained patents related to electrolytes [1] Summary by Categories Research and Development - The company's solid-state electrolyte research is currently in the small-scale testing phase, with some technical parameters still undergoing continuous testing [1]

Core Viewpoint - Lichong Group is intensifying its investment in battery technology by introducing strategic investor Kunlun New Materials to its subsidiary Shandong Lichong New Energy Materials, aiming to enhance technology, market expansion, and cost optimization in liquid and solid-state battery sectors [1][2][3] Group 1: Strategic Investment and Shareholding Changes - The transaction involves Lichong Group transferring 36.72% of its stake in Shandong Lichong to Kunlun New Materials for 22.77 million yuan and acquiring an additional 16.5% stake at zero cost, leading to a total investment obligation of 33 million yuan [2] - Following the capital increase, Shandong Lichong's registered capital will rise from 200 million yuan to approximately 402 million yuan, with Kunlun New Materials subscribing to 120 million yuan of the new capital [2] - After the completion of the transaction, Kunlun New Materials will hold 51% of Shandong Lichong, becoming the controlling shareholder, while Lichong Group's stake will decrease to 45.15% [2][3] Group 2: Business Development and Financial Performance - Lichong Group has shown steady growth over the past five years, with revenue increasing from 18.63 billion yuan in 2021 to 27.25 billion yuan in 2024, and net profit rising from 450 million yuan to 707 million yuan [4] - In the first three quarters of 2025, Lichong Group reported revenue of 22.92 billion yuan and net profit of 625 million yuan, reflecting year-on-year growth of 18.34% and 26.77% respectively [4] - The company has been increasing its R&D investment, with expenses rising from 552 million yuan in 2021 to 934 million yuan in 2024, and 730 million yuan in the first three quarters of 2025 [4] Group 3: Market Position and Future Prospects - Lichong Group is actively expanding its aluminum alloy wheel business, receiving multiple project confirmations from international and domestic automotive manufacturers, with expected sales amounting to approximately 1.87 billion yuan and 16.43 billion yuan from recent projects [5] - The company anticipates significant growth in its aluminum alloy wheel segment, with projected project sales exceeding 24 billion yuan in 2024, surpassing its total revenue of 23.37 billion yuan in 2023 [4][5]

Group 1: Company Overview and Strategic Partnership - The partnership with Kunlun New Materials aims to enhance the technological upgrade, market expansion, and cost optimization of liquid battery electrolyte materials at Shandong Lizhong New Energy Materials Co., Ltd. (Shanli New) [1] - Kunlun New Materials, established in 2004, has an annual production capacity of 180,000 tons of liquid electrolyte, with projects in Hubei and Hungary underway [2] - The collaboration will leverage Kunlun's customer resources and market channels to expand Shanli New's market presence and improve profitability [4] Group 2: Financial Transactions and Shareholding Structure - Lizhong Group plans to transfer 36.72% of Shanli New's shares to Kunlun New Materials for a transaction price of 22.7699 million yuan and will also invest 78.0941 million yuan for cash capital increase [2] - Post-transaction, Lizhong Group's shareholding will decrease to 45.15%, while Kunlun New Materials will hold 51% [2] Group 3: Technological Development and Product Innovation - Kunlun New Materials is advancing in solid-state battery electrolytes, with sulfide electrolyte conductivity reaching 12 mS/cm, nearing the performance of liquid electrolytes [3] - The company has established deep cooperation with various downstream clients for solid-state battery applications, with mass production of oxide electrolytes expected by Q4 2025 [3] Group 4: Future Development and Market Strategy - The partnership is aligned with the long-term strategic development plans of both companies, focusing on joint research, trial production, and sales in solid-state battery materials [4] - The collaboration aims to secure strategic partnerships with solid-state battery enterprises to capitalize on opportunities in the new energy sector [4]

Core Viewpoint - The company, Taihe Technology, has no current plans for cross-regional acquisitions or establishing production bases in other locations, including the potential development of a solid-state battery electrolyte facility in Yichang [2]. Company Plans - Taihe Technology confirmed on an investor interaction platform that there are no plans for cross-regional acquisitions or the establishment of production bases in different locations [2]. - The company stated that it will fulfill its information disclosure obligations in accordance with relevant laws and regulations if any significant matters arise in the future [2].