（编辑 袁冠琳） 证券日报网讯 湖南裕能11月25日发布公告，在公司回答调研者提问时表示，根据中汽协近期发布的数 据，2025年10月新能源乘用车国内销量占乘用车国内销量比例为57.6%，未来新能源乘用车市场仍具备 可观的增量空间。在新能源商用车领域，重卡、挖掘机等细分市场电动化进程也显著加速，渗透率持续 攀升，展现出巨大的市场潜力。此外，伴随新能源汽车平均单车带电量呈上升趋势，进一步强化了对动 力电池市场的需求支撑。长期来看，动力电池需求增长具备较强的持续性，这也将为磷酸盐正极材料需 求带来广阔的市场空间。 ...

丨证券研究报告丨 [Table_scodeMsg1] 公司研究丨点评报告丨湖南裕能（301358.SZ） [Table_Title] 湖南裕能 2025 三季报分析：出货高增，盈利改 善，看好价格修复和一体化布局下的业绩弹性 报告要点 [Table_Summary] 公司发布 2025 年三季报，公司 2025Q3 营业收入 88.68 亿元，同比+73.97%，环比+16.76%； 归母净利润 3.40 亿元，同比+235.31%，环比+61.26%；扣非净利润 3.24 亿元，同比+238.85%， 环比+44.16%。 分析师及联系人 [Table_Author] 邬博华 曹海花 叶之楠 SAC：S0490514040001 SAC：S0490522030001 SAC：S0490520090003 SFC：BQK482 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_scodeMsg2] 湖南裕能（301358.SZ） cjzqdt11111 [Table_Title 湖南裕能 2025 2] 三季报分析：出货高增，盈利改 善，看好价格修复 ...

（文章来源：证券日报） 证券日报网讯湖南裕能11月24日发布公告，在公司回答调研者提问时表示，基于下游旺盛的需求，公司 对行业需求前景坚定看好。在动力电池领域，乘用车和商用车电动化渗透率提升，以及新能源汽车单车 平均带电量逐步提高，动力电池市场有望继续保持增长。在储能领域，随着大电芯技术应用进一步提升 储能系统经济性，电力市场化改革及容量电价补偿等政策支持，AI数据中心等新兴应用场景对配储需 求增强，叠加海外储能需求快速提升等，多重积极因素共同推动储能市场进入高速发展通道。磷酸盐正 极材料作为锂电产业链的关键环节，有望在动力及储能电池需求的驱动下延续强劲增长态势。 ...

南财智讯11月24日电，湖南裕能在投资者关系活动中表示，基于下游旺盛需求，公司对行业前景持乐观 态度。在动力电池领域，乘用车和商用车电动化渗透率提升以及单车带电量增加将推动市场持续增长； 在储能领域，大电芯技术应用、电力市场化改革、容量电价补偿政策及AI数据中心等新兴场景带动配 储需求增强，叠加海外储能需求快速上升，储能市场正进入高速发展通道，磷酸盐正极材料有望延续强 劲增长态势。 ...

Core Viewpoint - The company is optimistic about the future growth prospects of the phosphate cathode material market, driven by increasing demand in both the power battery and energy storage sectors [1] Group 1: Power Battery Sector - The penetration of new energy vehicles (NEVs) is accelerating, with commercial vehicles also moving towards electrification [1] - The average battery capacity per vehicle is gradually increasing, indicating continued growth potential in the power battery market [1] Group 2: Energy Storage Sector - Advancements in large battery cell technology are enhancing the economic viability of energy storage systems [1] - Policy support from electricity market reforms and capacity price compensation is fostering growth in the energy storage market [1] - Emerging applications such as AI data centers are increasing demand for energy storage solutions, alongside rapid growth in overseas energy storage needs [1] Group 3: Market Outlook - The demand for phosphate cathode materials is expected to maintain strong growth momentum, driven by the dual forces of power batteries and energy storage batteries [1]

Core Viewpoint - Hunan Youneng (301358) is optimistic about the future demand growth for phosphate cathode materials in the market [1] Group 1: Market Outlook - The demand for phosphate cathode materials is expected to continue strong growth driven by both the power battery and energy storage battery sectors [1] - The penetration of new energy vehicles is accelerating, with commercial vehicles and other segments also progressing towards electrification [1] - The average battery capacity per new energy vehicle is gradually increasing, indicating a sustained growth potential in the power battery market [1] Group 2: Energy Storage Sector - Multiple positive factors are propelling the energy storage market into a phase of rapid development [1] - The energy storage market is expected to benefit from the dual drivers of power batteries and energy storage batteries [1]

Core Viewpoint - Hunan YN Energy's recent investor conference highlighted key developments in product pricing, phosphate mining progress, market demand outlook, new product shipments, and capacity utilization, indicating a positive growth trajectory for the company. Group 1: Product Pricing - The recent price increase of products is driven by supply-demand imbalances and rising raw material costs, with successful negotiations with clients reported [1]. Group 2: Phosphate Mining - The company is progressing well with the Huangjiapo phosphate mine, expecting to commence mining operations in the fourth quarter, which is anticipated to positively impact profits once production reaches full capacity [2]. Group 3: Demand Outlook - The demand for phosphate-based cathode materials is expected to remain strong, driven by the rapid penetration of electric vehicles in the automotive sector and increasing storage needs in the energy sector, supported by favorable policies and rising overseas demand [3]. Group 4: New Products and Shipments - The company has seen a significant increase in the shipment of new high-end products, particularly in the energy storage sector, aligning with industry trends towards larger battery cells and enhanced fast-charging capabilities [4]. Group 5: Capacity Utilization - The company maintains a high level of capacity utilization, operating at full production and sales due to strong downstream demand [5].

编号：2025-011 证券代码：301358 证券简称：湖南裕能 湖南裕能新能源电池材料股份有限公司 投资者关系活动记录表 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活 | □新闻发布会 □路演活动 | | 动类别 | □现场参观 | | | ☑ 其他（电话会议） | | 参与单位名称 | 鹏华基金、太平资产、汇丰资管、花旗环球、东吴证券 | | 时间 | 2025 年 11 月 18 日 | | 地点 | 电话会议 | | 上市公司接待 | 董事、常务副总经理兼董事会秘书 汪咏梅 | | 人员姓名 | 证券事务代表 何美萱 | | | 1、请问公司认为本轮涨价的契机是什么？落地情况如何？ | | | 回复：主要是基于两方面因素：一是公司产品处于供不应求的 | | | 状况，尤其新产品供需矛盾比较突出；二是部分原材料价格上涨带 | | | 来成本压力。公司与客户积极开展商务谈判，目前已取得了较好的 | | | 效果。 | | 投资者关系活 | 2、公司磷矿开采的进展如何？预计对利润有多少贡献？ | | 动主要内容介 | 回复：自 ...

作者：仝若楠 华声在线11月13日讯（全媒体记者 仝若楠）11月13日，A股主要指数低开高走，集体翻红。截至13时31 分许，上证指数涨0.56%，报4022.69点；深证成指涨1.61%，创业板指涨2.40%。 责编：潘华 一审：潘华 二审：印奕帆 三审：谭登 来源：华声在线 消息面上，11月11日，湖南裕能披露，今年1至9月，公司磷酸盐正极材料销量78.49万吨，较上年同期 增长64.86%。湖南裕能已实现磷酸铁全部自供，目前没有进行外采。在进行产能布局时。 盘面上，固态电池、锂电池概念爆发。今天上午，天宏锂电涨幅一度达30%，富祥药业、康鹏科技、华 盛锂电等股20%涨停，泰和科技、海科新源、超频三、维科技术等30余只个股涨停。 该板块的湘企也表现亮眼，上午，五矿新能一度上涨近20%，湖南裕能上涨近15%。下午开盘后，威领 股份在13时05分涨停，涨幅超10%。 ...

Core Viewpoint - Hunan Youneng (301358) reported a significant increase in sales of phosphate cathode materials, driven by strong downstream demand, with a year-on-year growth of 64.86% in sales volume for the first nine months of the year [1] Group 1: Sales Performance - The company sold 784,900 tons of phosphate cathode materials from January to September this year [1] - The sales performance indicates a robust market demand, with both production and sales thriving [1] Group 2: Future Capacity Planning - The company plans to cautiously manage its capacity layout based on market conditions [1]