Market Overview - The market experienced a downward trend on September 19, with all three major indices closing lower: Shanghai Composite Index down 0.30%, Shenzhen Component Index down 0.04%, and ChiNext Index down 0.16% [2] - Over 3,400 stocks in the market closed lower, with trading volume significantly shrinking to 2.32 trillion yuan, a decrease of 811.3 billion yuan compared to the previous trading day [2] Technical Analysis - The Shanghai Composite Index showed a larger decline, with its daily K-line falling below the 20-day moving average and approaching the 30-day moving average, indicating a challenging technical outlook [3] - Both Shenzhen and ChiNext indices maintained an upward trend above the 5-day moving average despite closing with doji candlesticks [5] Market Sentiment - Following the pattern of "big drop followed by recovery," several sectors initiated a rebound, with the Shenzhen and ChiNext indices showing positive performance for longer periods during the day [7] - However, the overall market recovery was weak, with a significant reduction in trading volume, indicating a decline in short-term sentiment [7] Sector Performance - The top-performing sectors included energy metals, tourism, and photolithography, with energy metals rising by 3.23% and tourism and hotels increasing by 2.08% [14][17] - The energy metals sector is particularly noteworthy due to the upcoming 2025 Suining International Lithium Battery Industry Conference, which aims to enhance lithium battery technology innovation [16][17] Investment Opportunities - The tourism sector is expected to benefit from the upcoming "super golden week" during the National Day holiday, with a reported 45% year-on-year increase in cross-province travel orders [17] - The photolithography sector is gaining traction due to recent developments in domestic chip manufacturing, particularly following announcements from Huawei regarding its Ascend chip roadmap [20] Company Developments - Shanghai Construction Group faced a rapid decline, hitting the limit down after a five-day winning streak, reflecting broader market trends [7] - The engineering machinery sector is showing signs of recovery, driven by various factors including military, civil explosives, and automotive components, with notable stocks like Shanhe Intelligent returning to the spotlight [22]

另外，支持扩大国际合作，引导产业高质量出海。加强与有关国家资源、战略、政策、标准等对接，加 强对锂电池企业全球化布局的指导，支持国内企业联合出海，开拓国际市场，积极参与海外绿色低碳能 源治理，主动融入并寻求主导全球应对气候变化行动。 与此同时，筑牢安全底线，推动锂电池产业健康发展。强化锂电池等相关标准实施，提升锂电池生产安 全、使用安全、处置安全水平，建立以强制性国家标准为基础的锂电池产品安全分级评价技术体系和储 能电池产品推荐目录，提升产品产业安全水平，持续开展锂电池质量监督检查，加大对不合格企业的处 置力度，推动锂电池产品性能和质量提升。 9月19日，2025遂宁国际锂电产业大会召开。工业和信息化部电子信息司二级巡视员吴国纲在发言中表 示，下一步将强化锂电池技术创新引领，加快布局前瞻技术，加快固态电池、钠离子电池、全气候电 池、快充电池及关键材料的研发和产业化，突破基于热失控模型的主动安全预警技术，研发高性能阻燃 电池材料、高效绿色灭火材料，构建多维度安全技术体系。 （原标题：工信部：加快电池前瞻技术的研发和产业化 加大对不合格企业的处置力度） ...

美联储降息对大宗商品价格或也形成一定支撑。国家金融与发展实验室特聘高级研究员、中国首席经济 学家论坛理事邵宇接受上海证券报采访时表示，美联储降息将导致美元指数下行，大宗商品价格上涨。 避险资产黄金和风险资产大宗金属、科技股的组合或具有配置价值。 固态电池板块今日震荡上行。截至9月19日上午收盘，赣锋锂业(002460.SZ)涨停，股价报52.82元，创两 年来新高，市值为1087亿元。华亚智能、厦钨新能、腾远钴业、天齐锂业、中一科技等跟涨。 消息面上，在9月19日举行的2025遂宁国际锂电产业大会上，工业和信息化部电子信息司二级巡视员吴 国纲在发言中表示，下一步，将强化锂电池技术创新引领，加快布局前瞻技术，加快固态电池、钠离子 电池、全气候电池、快充电池及关键材料的研发和产业化等。加强对锂电池企业全球化布局的指导，支 持国内企业联合出海，开拓国际市场等。 赣锋锂业2025年半年报显示，公司上半年营业收入为83.76亿元，同比下降12.65%；归母净亏损5.31亿 元，上一年同期亏损额为7.6亿元。 该公司表示，2025 年上半年，全球锂盐行业经历深度调整，受供需格局转变、锂产品市场波动的影 响，锂盐及锂电池产 ...

兴业证券认为，2025年新能源汽车、储能等下游需求稳健增长，由于前期产能扩张过快，行业仍面临供 给过剩格局，部分环节盈利能力已持续承压两年。当前锂电板块部分环节迎来价格筑底回升和扩产放缓 的双重利好，市场悲观预期正逐步消化。随着企业降本增效措施的推进以及下半年传统旺季的到来，行 业盈利已呈现企稳迹象并具备向上弹性。与此同时，固态电池等新技术加速落地，有望重塑行业竞争格 局，具备新技术布局优势的企业或率先迎来反弹。 9月19日，2025遂宁国际锂电产业大会召开。工业和信息化部电子信息司二级巡视员吴国纲在发言中表 示，下一步，将强化锂电池技术创新引领，加快布局前瞻技术，加快固态电池、钠离子电池、全气候电 池、快充电池及关键材料的研发和产业化，突破基于热失控模型的主动安全预警技术，研发高性能阻燃 电池材料、高效绿色灭火材料，构建多维度安全技术体系。 东莞证券认为，锂电池产业链连续两个季度实现净利润同比环比显著增长，业绩拐点确立。下游新能源 汽车市场迎来"金九银十"传统旺季，动力电池需求预期进一步提升；储能端需求维持高增长，锂电池整 体需求迎来旺季。随着"反内卷"持续深化，有望促进落后产能加速出清，有利于拥有技术优势 ...

经济观察网 固态电池概念盘中再度走强，赣锋锂业（002460）涨停，华亚智能（003043）、厦钨新 能、腾远钴业（301219）、天齐锂业（002466）、中一科技（301150）、璞泰来（603659）跟涨。消息 面上，9月19日，2025遂宁国际锂电产业大会召开。工信部表示，下一步，将强化锂电池技术创新引 领，加快布局前瞻技术，加快固态电池、钠离子电池、全气候电池、快充电池及关键材料的研发和产业 化。 ...

Core Viewpoint - BYD's mid-term performance for the first half of 2025 shows significant growth in revenue and profit, highlighting its leadership in the global electric vehicle market and strong market presence in China [1][2][8] Financial Performance - BYD reported a revenue of RMB 371.28 billion for the six months ending June 30, 2025, representing a year-on-year increase of 23.30% [1] - The net profit attributable to shareholders was RMB 15.51 billion, up 13.79% year-on-year, with earnings per share at RMB 1.71 [1] Automotive and Battery Business - In the first half of 2025, BYD's sales of new energy vehicles increased by over 33.0%, solidifying its leading position in the market [2] - The overall market share for BYD's automotive business rose by 2.2 percentage points to 13.7%, making it the second-largest exporter of complete vehicles in the first half of the year [2] Technological Innovation - BYD launched the world's first mass-produced passenger vehicle with a full-domain kilovolt high-voltage architecture, enhancing its core electric systems [3] - The company introduced a 10C charging battery and the world's first mass-produced 30,000 RPM motor, leading advancements in pure electric technology [3] Brand Strategy - BYD's multi-brand strategy includes brands like "BYD," "Equation Leopard," "Tengshi," and "Yangwang," catering to various market segments from family to luxury vehicles [4] - The "Tengshi" brand is advancing in the high-end market, while "Yangwang" focuses on high-end products with advanced technology [4] Global Expansion - BYD's products are now available in over 110 countries and regions across six continents, with significant sales growth in markets like the UK, Brazil, and Singapore [5] - The company is establishing local manufacturing and operational processes, including a new passenger vehicle factory in Cambodia and a European headquarters in Hungary [5] Collaboration and Future Outlook - BYD is deepening partnerships with global players to enhance its green vision and accelerate the development of charging infrastructure [6] - The company is also focusing on AI and smart products, with significant growth in its AI data center business [7] - BYD aims to strengthen its competitive edge and continue its global expansion in the new energy vehicle sector [8]

Core Insights - The article highlights the significant role of Bao'an District in Shenzhen as a hub for the automotive industry, particularly in the fields of new energy and intelligent connected vehicles, with a cluster of 943 automotive-related enterprises [1][3]. Industry Overview - Bao'an has established itself as a strong engine for Shenzhen's automotive industry, focusing on core technologies rather than just vehicle manufacturing, leading to a robust ecosystem of "invisible champions" [3][6]. - The intelligent connected vehicle industry in Bao'an achieved an added value of 12.148 billion yuan in 2024, reflecting a year-on-year growth of 9.6% [3]. Key Players and Innovations - Major companies such as Valeo, HUAWEI, and XINWANDA are leading advancements in smart driving and battery technology, contributing to Bao'an's reputation as a global automotive supply chain leader [5][10]. - XINWANDA's high-power battery has a cycle life exceeding 100,000 times and has been installed in nearly 3 million vehicles, showcasing the district's innovation in battery technology [5]. Comprehensive Industry Ecosystem - Bao'an has developed a complete automotive industry chain covering all lifecycle stages, from upstream components to downstream services, enhancing its competitive edge [6][7]. - The district's focus on key components, such as hydrogen fuel cells and automotive electronics, has positioned it favorably within the global market [6][9]. Demonstration and Application - Bao'an has opened approximately 280 kilometers of roads for autonomous driving technology testing, with plans to expand this to over 400 kilometers, facilitating real-world applications of smart vehicles [9][10]. - The successful implementation of HUAWEI's valet parking system at Shenzhen Bao'an International Airport exemplifies the district's commitment to commercializing intelligent driving technologies [10]. Spatial Development and Infrastructure - Bao'an is innovating its industrial space through the "industrial building up" model, creating environments that foster collaboration among automotive enterprises [11][12]. - The Yanshuo Intelligent Connected Vehicle Industrial Park is a strategic project aimed at enhancing the district's automotive industry landscape, promoting resource sharing and efficient cooperation [11][12].

Market Overview - The sales of new energy light trucks reached 16,505 units in March, representing a year-on-year increase of 91%, with a penetration rate rising to 19.52% [6] - In the first three months of 2025, Foton topped the sales chart with 5,058 units, while Guangdong province accounted for a significant share of the market [6] Policy Developments - Shanghai's Development and Reform Commission released a management method for reward funds aimed at enhancing the adjustment capabilities of the new power system, including virtual power plants and V2G capabilities, with rewards applicable to projects connected to the grid from January 1, 2024, to December 31, 2028 [5][13] - Inner Mongolia's guidelines for subsidies on replacing old city buses with new energy buses were outlined, allowing for the scrapping of old buses and the purchase of eligible new energy models [10] Industry Innovations - Hive Energy announced a breakthrough in fast-charging battery technology, achieving full charge in 15 minutes, which is a 30% improvement in efficiency [27] - Guoxuan High-Tech released six new technologies, including a solid-state battery with a range of 1,000 kilometers, which has entered the pre-production phase [27] Company Developments - Xizhong Automobile showcased its logistics prototype vehicle at the CATL New Energy Heavy Truck Ecosystem Conference, featuring an integrated electric drive axle system and a high-efficiency battery with a range exceeding 350 kilometers [22] - Foton and Huawei Digital Energy signed a cooperation agreement to accelerate the electrification of heavy trucks, aiming to create a comprehensive charging network [23] - Jianghuai Automobile launched its new energy light truck ES9, designed specifically for cold chain logistics, featuring multiple battery options and advanced thermal management systems [20]

Core Viewpoint - The company has developed various models of superconductive carbon black products that can be used in fast-charging and solid-state battery applications [1] Group 1 - The superconductive carbon black products are currently in the testing phase, with the 6010 product still undergoing sample testing [1]

Group 1 - The 17th Shenzhen International Battery Technology Exchange Conference (CIBF2025) opened with over 3,200 global companies participating, covering an exhibition area of nearly 300,000 square meters, and is expected to attract over 400,000 professional visitors during the three-day event [1] - The conference focuses on trends such as solid-state batteries, fast charging, green manufacturing, and international standards, emphasizing the competition in the battery industry based on digital intelligence and closed-loop ecosystems [1][3] - Companies like CATL, BYD, and others showcased innovations in energy storage, cell manufacturing, and recycling, with a particular emphasis on high-nickel cathodes and molecular-level material innovations [1] Group 2 - Solid-state batteries emerged as a hot topic, with a report from CITIC Securities predicting global solid-state battery shipments to reach 642.6 GWh by 2030, with a compound annual growth rate exceeding 130% [2] - Hive Energy's CEO highlighted that solid-state batteries and ultra-fast charging are the future directions of battery technology, with the stacking process being the optimal path for mass production [2] - Hive Energy plans to introduce "end fast charging" technology in its mass-produced fast-charging batteries this year, optimizing charging time significantly compared to industry standards [2] Group 3 - The conference also featured over 200 thematic speeches and high-end forums, with reports such as the "Lithium-Ion Battery Industry Blue Book 2024" being released, focusing on emerging topics like energy storage and AI applications [3] - The chairman of the CIBF organizing committee stated that the transition from scale expansion to quality improvement is a critical turning point for China's new energy sector [3] - In the first quarter of 2025, China's newly installed renewable energy capacity reached 76.75 million kilowatts, a year-on-year increase of 21%, indicating the battery industry's role in supporting structural changes [3]