对此，ST帕瓦表示，鉴于本次诉讼案件尚未开庭审理，上述事项对公司当期及期后利润的影响具有不 确定性，最终实际影响以法院判决及实际执行结果为准。本次诉讼系公司依法主张自身合法权益，切实 维护公司和股东利益的行为，不会影响公司正常生产经营。 起诉供应商索要3900万元预付款 今年5月，"上虞发布"微信公众号介绍称，格派钴业成立于2016年，产品包括硫酸钴、氯化钴、电钴 等。2024年，公司钴产能15000金属吨、镍产能6000金属吨，钴产能排名全球前六，市场占有率稳居全 球前五；2024年产值突破21亿元，出口创汇4597万美元。 ST帕瓦在公告中表示，2024年11月25日，ST帕瓦与格派钴业签订了编号为PW—GP20241125的《采购 合同》，就公司向格派钴业采购货值3944.96万元的硫酸钴达成合意。其中，合同第8.1条、第8.2条约定 如供应方逾期交货20日及以上的，视为供应方未能交付产品，采购方有权解除合同且供应方应承担未履 行部分总金额20%的违约金。 ST帕瓦对此向格派钴业支付预付款3900万元，因格派钴业未能按约定交付货物，且逾期超过20日，公 司为维护自身权益，向诸暨法院提起诉讼。公司请求法院 ...

点击查看公告原文>> 据公告，2024年11月25日，ST帕瓦与格派钴业签订《采购合同》，ST帕瓦向格派钴业采购货值3944.96 万元的硫酸钴，并支付了3900万元预付款。合同约定，若供应方逾期交货20日及以上，视为未能交付产 品，采购方有权解除合同，供应方需承担未履行部分总金额20%的违约金。因格派钴业未能按约交付货 物且逾期超20日，ST帕瓦为维护权益提起诉讼。 ST帕瓦的诉讼请求包括：判令解除双方于2024年11月25日签订的《采购合同》；判令格派钴业返还 3900万元及该款自2025年1月14日起至款付清之日止按LPR计算的利息损失；判令格派钴业支付违约金 788.992万元。 ST帕瓦表示，本次诉讼不会影响公司正常生产经营。鉴于诉讼尚未开庭审理，对公司当期及期后利润 的影响具有不确定性，最终实际影响以法院判决及实际执行结果为准。公司将根据诉讼进展，按要求及 时履行信息披露义务，提醒投资者注意投资风险。 登录新浪财经APP 搜索【信披】查看更多考评等级 ST帕瓦（维权）近日就与浙江格派钴业新材料有限公司的买卖合同纠纷向浙江省诸暨市人民法院提起 诉讼。截至公告披露日，法院已立案受理，但尚未开庭审理。 ...

钴专家交流 20251008 摘要 钴原料价格从去年底 5.4 美元/磅涨至 15.5-16 美元/磅，涨幅近三倍， 带动硫酸钴和金属钴价格大幅上涨。成本预期是主要驱动因素，禁运措 施若不采取，全产业链将低位运行。 中国钴行业自 2025 年 6 月起加速消化库存，预计年底仍将持续。若按 每月 8,000-9,000 吨的速度消耗，未来钴产业链仍需处理约 4 万吨库存。 当前供应短缺下，配额制度难以导致价格明显下滑，或将持续上涨。 以上。而即使每年 9 万多吨的配额完全给中国，加上印尼 4 万吨和回收 2 万吨， 也无法满足这一需求。因此，中国钴产业链已进入供应紧缺状态。 刚果政府在实施钴出口配额制度时有哪些具体政策和细节？ 刚果政府可能会收取一些费用，包括监管费用和预付费用。此外，33 个含钴开 采项目中的 27 家公司需要获得出口许可证才能拿到配额。若市场出现失衡， 刚果政府将按季度调整配额。这意味着如果供应短缺严重，可以增加季度配额； 反之，如果价格暴跌且供应过剩，则可能减少季度配额。然而，由于走私或其 他渠道运输货物的可能性较小，因此第一种情况更为可能。 中国企业如何应对刚果金新的政策变化？ 刚果金实 ...

公开资料显示，金晟新能曾于2022年启动A股上市辅导，2024年8月终止上市辅导。2024年12月20日， 金晟新能首次向港交所递交上市申请，但招股书于6个月之后失效。 9月3日，广东金晟新能源股份有限公司再次向港交所提交上市申请。金晟新能是国内主要的锂电池回收 和再生利用企业。按照计划，公司拟向上、下游锂电材料扩张，建立锂电池再生利用一体化生态体系， 提高锂电材料产能和市场份额，巩固行业地位。 今年以来，碳酸锂价格延续下跌趋势。9月30日，上海钢联（300226）电池级碳酸锂均价报73250元/ 吨。2025年上半年，金晟新能碳酸锂平均售价为5.94万元/吨，2024年上半年平均售价为8.58万元/吨。 2023年和2022年，公司碳酸锂平均售价分别为19.64万元/吨和39.63万元/吨。 按照计划，金晟新能拟将部分募集资金用于赣州生产基地退役磷酸铁锂电池处理厂建设的开支，主要包 括建设厂房、购置和安装主要生产机器及设备所需的资金；拓展上游原材料资源；加强研发能力，用作 营运资金和一般公司用途。金晟新能在招股书中表示，公司计划通过建设新的生产线及生产设施来进一 步提升产能，以满足锂电材料产品不断增长的需求 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月3日，广东金晟新能源股份有限公司再次向港交所提交上市申请。金晟新能是国内主要的锂电池回收 和再生利用企业。按照计划，公司拟向上、下游锂电材料扩张，建立锂电池再生利用一体化生态体系， 提高锂电材料产能和市场份额，巩固行业地位。 公开资料显示，金晟新能曾于2022年启动A股上市辅导，2024年8月终止上市辅导。2024年12月20日， 金晟新能首次向港交所递交上市申请，但招股书于6个月之后失效。 聚焦锂电池再生利用赛道 公开资料显示，金晟新能专注于锂电池回收和再生利用，业务涵盖三元锂电池及磷酸铁锂电池等主流电 池体系，产品主要包括碳酸锂、硫酸镍、硫酸钴等，广泛用于电动车、储能系统和消费电子等领域。 根据弗若斯特沙利文报告，以2024年再生利用销售收入计算，金晟新能是全球第二大锂电池回收及再生 利用企业。公司掌握多项锂电池回收和再生利用核心技术，锂金属回收率超过95%，超过行业90%的平 均水平，锂电材料再生循环及综合利用的整体实力位于全国前列。凭借技术优势，公司被认定为国家高 新技术企业及国家级专精特新"小巨人"企业，并参与多项行业标准 ...

Core Viewpoint - Guangdong Jingsheng New Energy Co., Ltd. has submitted a new listing application to the Hong Kong Stock Exchange, aiming to expand its lithium battery recycling and regeneration business, and establish an integrated ecosystem for lithium battery recycling [1][2]. Company Overview - Jingsheng New Energy focuses on lithium battery recycling and regeneration, covering mainstream battery systems such as ternary lithium batteries and lithium iron phosphate batteries. Its products include lithium carbonate, nickel sulfate, and cobalt sulfate, widely used in electric vehicles, energy storage systems, and consumer electronics [3]. - According to a report by Frost & Sullivan, Jingsheng New Energy is the second-largest lithium battery recycling and regeneration company globally based on 2024 sales revenue. The company has a lithium metal recovery rate exceeding 95%, surpassing the industry average of 90% [3]. Production Capacity and Expansion Plans - Jingsheng New Energy has established three production bases in Zhaoqing, Guangdong Province, and Yichun and Ganzhou in Jiangxi Province. By the end of 2024, the company's production capacity for lithium carbonate, nickel sulfate, and cobalt sulfate is expected to be approximately 76,600 tons per year [3]. - The company plans to expand upstream and downstream in lithium materials, continuously improve its integrated ecosystem for lithium battery recycling, enhance production capacity, and increase market share to solidify its leading position in the industry [3][6]. Financial Performance - Financial data shows that Jingsheng New Energy's operating revenues for 2022, 2023, and 2024 were approximately 2.905 billion yuan, 2.892 billion yuan, and 2.157 billion yuan, respectively. Net profits for the same years were 151 million yuan, -471 million yuan, and -344 million yuan [5]. - The company reported continued losses in 2023 and 2024, primarily due to a significant decline in lithium carbonate prices. In the first half of 2025, the company continued to incur losses attributed to increased administrative and R&D expenses [5]. Price Trends and Market Impact - Lithium carbonate prices have been on a downward trend, with the average price reported at 73,250 yuan per ton as of September 30. The average selling price of lithium carbonate for Jingsheng New Energy in the first half of 2025 was 59,400 yuan per ton, down from 85,800 yuan per ton in the first half of 2024 [5]. - The company indicated that fluctuations in the prices of lithium carbonate, nickel sulfate, and cobalt sulfate could significantly impact its financial condition and operating performance [5].

2025年金属圈最火的段子，非"年初囤了钴，年底换路虎"莫属。这话放在年初，大概率会被当成玩笑 ——那会儿钴价还趴在15.9万元/吨的历史低点， 谁能想到， 短短一年时间，它能一路飙到27.25万元/ 吨，涨幅超60%？ 更疯狂的是9月29日那天，长江现货1 #钴均价单日暴涨2 .9万元，直接冲到33.7万 元/吨，创下今年最大单日涨幅，把同期震荡的A股远远甩在身后。 有人在这场暴涨里赚得盆满钵满。洛阳钼业上半年财报里，净利润86.71亿元，同比暴涨60.07%，公司 里甚至有员工调侃"提前备的货成了金疙瘩，这盈利空间比十年前囤茅台还狠"。但也有不少人看得一头 雾水：不就是一块金属吗？怎么突然就成了香饽饽？其实这场"钴市风暴"不是偶然，而是刚果金掐断供 应、AI与新能源抢着要货的必然结果，现在看懂还不算晚。 要聊钴价，绕不开刚果金——这个非洲国家握着全球钴市场的"命脉"，它一动，整个行业都得跟着抖。 今年2月22日，刚果金政府突然扔出一颗重磅炸弹：禁止钴出口4个月。消息刚出来，市场还没完全反应 过来，6月又宣布"禁令延长3个月"。现在眼看快到新的政策窗口，不少机构都在猜"会不会再延长"。别 觉得这只是一个国家 ...

Report Industry Investment Rating - No specific investment rating provided in the report Core View - On September 26, the main contract of lithium carbonate futures fluctuated within a range. With both supply and demand strong, upstream inventory pressure is not significant, the expectation of supply contraction in lithium mines is weakening, downstream inventories have reached their peaks, and the peak demand may be approaching. It is expected that the price of lithium carbonate will oscillate at a low level. A wait - and - see approach is recommended [1] Summary by Relevant Content Futures Market - On September 26, the closing prices of the near - month, consecutive - two, consecutive - three, and consecutive - one contracts of lithium carbonate futures were 72,680 yuan/ton, 72,820 yuan/ton, 72,820 yuan/ton, and 72,880 yuan/ton respectively, all showing a downward trend compared to the previous day. The trading volume of the active contract was 481,020 hands (+138,301), and the open interest was 248,460 hands (-12,501) [1] Spot Market - The average price of SMM battery - grade lithium carbonate was 73,400 yuan/ton, with a basis of 720 yuan/ton, rising from a discount. The prices of some lithium - related products such as lithium spodumene concentrate increased, while the prices of mica remained stable [1] Supply and Demand - Supply side: Last week, lithium carbonate production increased. Demand side: Last week, the production of lithium iron phosphate and ternary materials increased; in September, the production schedules of lithium cobaltate and lithium manganate increased, and the production of power batteries was basically flat last week. Terminal demand: In August, the year - on - year growth rate of new energy vehicle production and sales slowed down; 3C shipments were average; in September, the production schedule of energy - storage batteries increased [1] Inventory - The registered warehouse receipts were 40,329 tons (+20), and social inventory decreased. Inventories of smelters and other sectors decreased, while downstream inventory tightened [1] Company News - Salt Lake Co., Ltd. announced that its 40,000 - ton/year basic lithium salt integration project has entered the commissioning stage and produced qualified battery - grade lithium carbonate products. Anson Resources signed a battery - grade lithium carbonate purchase agreement with LG Energy Solution, and its stock price rose nearly 25%. Longpan Times, a joint - venture company of CATL and Longpan Technology, stopped production on September 25 due to the suspension of raw material supply from CATL's Yichun mine [1]

Investment Rating - The report maintains a positive outlook on copper, aluminum, and precious metals, indicating a high level of market activity and potential for growth in these sectors [13][16]. Core Insights - Copper prices have surged due to unexpected production cuts, leading to significant supply shortages and rapid price increases [13]. - Aluminum is showing signs of recovery with inventory levels decreasing and downstream processing rates improving, suggesting a potential for sustained high profitability [15]. - Precious metals, particularly gold, are expected to rise further due to market anticipation of continuous interest rate cuts [16]. Summary by Sections Copper - This week, LME copper price increased by 2.09% to $10,205.00 per ton, while Shanghai copper rose by 3.20% to 82,500 yuan per ton [14]. - Supply side: The import copper concentrate processing fee index rose to -$40.36 per ton; national copper inventory decreased by 4,400 tons to 140,100 tons [14]. - Consumption side: Brass rod enterprises' operating rate was 48.49%, showing a slight increase of 0.71 percentage points [14]. Aluminum - This week, LME aluminum price decreased by 1.01% to $2,649.00 per ton, and Shanghai aluminum fell by 0.24% to 20,700 yuan per ton [15]. - Supply side: Electrolytic aluminum ingot inventory in major consumption areas dropped by 21,000 tons to 617,000 tons [15]. - Demand side: Downstream processing enterprises' operating rate increased by 0.8 percentage points to 63.0%, driven by pre-holiday stocking [15]. Precious Metals - This week, COMEX gold price rose by 0.23% to $3,789.80 per ounce, with SPDR gold holdings increasing by 5.15 tons to 1,005.72 tons [16]. - The market is experiencing fluctuations due to U.S. tariffs and escalating geopolitical risks, contributing to a volatile trading environment [16]. Rare Earths - The price of praseodymium and neodymium oxide decreased, while the export volume of magnetic materials saw significant growth [32]. - Domestic rare earth separation enterprises are preparing for production halts, indicating potential supply constraints [32]. Antimony - Antimony ingot price is at 174,900 yuan per ton, showing a decrease of 2.26% [33]. - The demand for antimony is expected to recover as the photovoltaic glass market stabilizes [33]. Molybdenum - Molybdenum concentrate price is 4,450 yuan per ton, with a slight decrease of 0.45% [34]. - The demand for molybdenum is expected to rise as major steel mills resume procurement [34]. Tin - Tin ingot price increased by 1.74% to 273,700 yuan per ton, with inventory decreasing by 6.14% [35]. - The supply-demand dynamics are favorable, supported by strong inventory levels and demand from the semiconductor sector [35].

消息面上，1)自由港因印尼矿山事故宣布不可抗力，预计2025Q3铜销量同比降4%，Q4几近停滞，2026 年全球前18大矿山铜增量从43万吨降至16万吨，供需矛盾加剧，带动铜相关标的上涨；2)美国锑业获五 角大楼2.45亿美元独家供应合同，计划产能从2kt扩至6kt，强化锑板块供需支撑逻辑，提振市场情绪； 3)山西等地煤炭超产或受新《反不正当竞争法》限制，供给偏紧预期推动焦煤价格看涨至1700-1800元/ 吨。 截至09月25日09:38，有色ETF基金(159880.SZ)上涨2.22%，其关联指数国证有色(399395.SZ)上涨 2.07%；主要成分股中，北方铜业上涨10.01%，洛阳钼业上涨9.67%，铜陵有色上涨8.35%。 关联个股： 紫金矿业（601899）、北方稀土（600111）、洛阳钼业（603993）、华友钴业（603799）、山东黄金 （600547）、赣锋锂业（002460）、中国铝业（601600）、中金黄金（600489）、天齐锂业 （002466）、赤峰黄金（600988） 券商研究方面，华龙证券指出宏观不确定性增强背景下贵金属维持量价齐升态势，其有色金属行业深度 报告显示紫 ...