*风险提示：股市有风险，入市需谨慎 索通发展：公司是全球最大的商用预焙阳极供应商，截至2025年7月，公司预焙阳极在产产能346万吨， 计划2025年末预焙阳极签约产能达到约500万吨，负极产能8万吨，煅后焦130万吨，薄膜电容器超20亿 只生产规模。 天山铝业：公司拥有预焙阳极年产能60万吨，可以满足现有电解铝产能全部阳极碳素的需求。 *免责声明：文章内容仅供参考，不构成投资建议 据百川盈孚数据，12月3日预焙阳极市场均价5638元/吨，较上一日大涨5.82%，并实现三连涨。今年下 半年以来，预焙阳极市场价格呈现阶梯式攀升走势，7月至今累计涨幅已超过15%。 证券时报表示，近期石油焦价格高位整理，最新市场均价为3115元/吨，部分负极焦价格继续上行。原 料煤焦油预计仍坚挺走势，短期波动不大，煤沥青市场偏稳整理。综合来看，原料成本仍旧维持高位水 平，对预焙阳极价格偏好氛围。下游需求方面，电解铝价格持续走高，开工产能稳中小增，开工产能达 4414万吨，对预焙阳极需求旺盛。近期新疆地区电解铝企业将继续释放新投产产能，预计行业理论开工 产能呈增加态势，对预焙阳极需求或有增量。成本高位叠加需求持续旺盛，预焙阳极价格或 ...

Core Viewpoint - The strategic cooperation agreement between Suotong Development Co., Ltd. and Chalco Materials Co., Ltd. marks a significant step towards enhancing industrial collaboration, resource channel expansion, operational efficiency improvement, and promoting green and low-carbon transformation in the aluminum carbon industry [1][2][5]. Group 1: Strategic Cooperation Details - Suotong Development and Chalco Materials will collaborate through the Green Star Chain platform for joint procurement of spare parts and auxiliary materials, aiming to establish a new benchmark for supply chain collaboration in the aluminum carbon sector [1][5]. - The partnership will focus on deep cooperation in the upstream and downstream fields of aluminum carbon, addressing the high raw material cost and market volatility by integrating procurement processes [5][9]. Group 2: Operational Enhancements - The collaboration will enhance the procurement process for spare parts and auxiliary materials, utilizing Chalco Materials' online platform to digitize procurement workflows, optimize inventory management, and shorten procurement cycles [5][9]. - A stable and efficient production-sales coordination mechanism will be established, ensuring continuous supply and product consistency in key products like calcined coke and prebaked anodes [5][9]. Group 3: Value Creation and Industry Transformation - The partnership signifies a shift from simple procurement to resource integration, capability complementarity, and value co-creation, representing a true "deep collaboration of the industrial chain" [9]. - Suotong Development aims to leverage this cooperation to strengthen its professional advantages in the aluminum carbon field and accelerate its digitalization, greening, and internationalization efforts, aspiring to become a global leader in carbon material solutions [9].

Core Viewpoint - The company is experiencing strong downstream demand for its products and aims to achieve a prebaked anode production capacity of 3.4 million tons and sales of 3.5 million tons by 2025, while gradually releasing the capacity of its 1 million ton calcined coke project in Hubei [1] Group 1 - The company is currently operating all production lines at full capacity to ensure the achievement of its annual targets [1] - The financial director emphasized the importance of ramping up production to meet the growing demand [1]