近日，赣锋锂业发布2025年半年度报告，该公司营业收入为83.76亿元，同比减少12.65%。 归属于上市公司股东的净亏损为5.31亿元，同 比收窄30.13%。 其中 锂电池业务 表现相对较好， 覆盖固态锂电池、动力电池、消费类电池、聚合物锂电池、储能电池及储能系统等五大类， 营业收入 29.75亿元，同比增长9.89%，占比提升至35.52%。 报告期内，四川赣锋年产5万吨锂盐项目在上半年完成生产线调试，产能逐步释放；青海赣锋一期年产1,000吨金属锂项目处于试生产阶段， 生产线爬坡至最优状态，计划今年9月申请安全验收，预计年底达产；公司电池级硫化锂产线逐步释放产能，赣锋硫化锂产品主含量 ≥99.9%、D50≤5μm，凭借高纯度、低杂质含量及优异的一致性，可满足高导电性固态电解质材料技术要求，目前已通过客户质量认证，已 向多家下游客户供货。 储能端， 587Ah大容量储能电芯 已实现规模化量产，并与多家行业头部企业建立长期稳定供应合作。 最新推出的6.25MWh储能系统，实现 了高效、长寿、安全三重突破，例如其高效热管理系统通过智能控温算法精准调节温差，电池寿命全面提升；C5级防腐设计，不少于15000 ...

Core Viewpoint - The global lithium salt industry is undergoing significant adjustments in the first half of 2025, with a decline in lithium product prices due to changes in supply and demand dynamics, yet Ganfeng Lithium has managed to substantially reduce its losses during this period [1] Group 1: Financial Performance - Ganfeng Lithium reported a revenue of 8.376 billion yuan in the first half of 2025, with a net loss attributable to shareholders of 531 million yuan, a significant reduction from a loss of 760 million yuan in the same period last year [1] - The gross margin for lithium compounds remained positive at 8.36%, despite the overall downward trend in lithium compound prices, which fell from $850-$900 per ton at the beginning of the year to $620-$640 per ton by June, representing a decline of 25% to 31% [2][3] Group 2: Market Dynamics - The lithium compound prices have been affected by supply-demand mismatches, with increased production of lithium salts and declining prices of Australian lithium ore contributing to the downward price trend [2] - Ganfeng Lithium's vertical integration across the lithium value chain—from upstream resource development to downstream battery manufacturing—has enhanced operational efficiency and profitability [2] Group 3: Resource Management - The company has established a stable and diversified raw material supply system by securing high-quality lithium resources globally, including spodumene, lithium brine, and lithium mica [3] - Ganfeng Lithium's self-sufficiency in lithium resources is expected to exceed 50% in 2025, which is above the industry average, thereby improving cost control and profitability [3] Group 4: Battery Business Growth - The lithium battery segment of Ganfeng Lithium achieved a revenue of 2.975 billion yuan in the first half of 2025, marking a year-on-year growth of 9.89%, and accounting for 35.52% of total revenue [4] - The company has successfully scaled up the production of its 587Ah large-capacity energy storage cell, which has become a benchmark product in the large-scale energy storage sector due to its long cycle life and high energy density [4] Group 5: Technological Advancements - Ganfeng Lithium has made significant progress in solid-state battery technology, completing the development of a 304Ah square solid-state energy storage battery that outperforms traditional liquid batteries in key safety and performance metrics [5] - The company is also collaborating with well-known drone and eVTOL companies to develop high-energy batteries, with products already passing regulatory compliance checks [6]