Core Viewpoint - CATL's recent product launches, including the second-generation fast-charging battery and sodium-ion battery, are expected to drive demand for negative materials such as graphite and hard carbon, benefiting the related supply chain [1][3][4]. Product Summaries Product 1: Second-Generation Fast-Charging Battery - The second-generation fast-charging battery features a peak charging rate of 12C, enabling a range of 75 km in just 30 seconds and 520 km in 5 minutes, with a peak charging power of 1.3 MW [3] - The battery utilizes super crystalline graphite anodes and surface sub-micron conductive particles to significantly enhance lithium ion insertion speed, indicating that anode materials will benefit from the ongoing deployment of fast-charging products [3] Product 2: Second-Generation Sodium-Ion Battery "Sodium New" - The "Sodium New" battery maintains over 90% energy efficiency at -40°C, with an energy density of 175 Wh/kg, the highest in the industry for mass production [4] - It is designed for low-voltage applications and can be used in heavy-duty vehicles, with a capacity of 4.5 kWh for cold starts at extreme temperatures [4] - The battery is expected to enter mass production in December 2025, with the first customer being FAW Jiefang, and it aims to achieve over 200 km in hybrid range and over 500 km in pure electric range [4] Product 3: Xiaoyao Dual-Core Battery - The Xiaoyao dual-core battery features a dual-core architecture based on aviation safety redundancy, utilizing self-generating anode technology [5] - This technology allows for a 60% increase in volumetric energy density and a 50% increase in mass energy density, adaptable to various material systems [5] - The impact of self-generating anode technology on existing anode systems, such as graphite, is expected to be limited despite its high energy density capabilities [5]

聚集源头工厂的 1688 因低价吸引消费者。2023 年 11 月，阿里将 1688 列为四大 "战略级创新业务" 之一，并称其将以 3 - 5 年为周期持续投入。2024 年，1688 活跃买家数同比增长 55%。截至 2025 年 2 月，1688 年度活跃买家数（AAC）超过 1 亿。 巴菲特增持 5 家日本商社股票，4 家持股比例超过 9%。 巴菲特的公司伯克希尔·哈撒韦 3 月 17 日的财务文件显示，公司已增持 5 家日本商社（三井物产、 三菱商事、住友商事、伊藤忠商事和丸红）股票，在其中四家持股比例超过 9%。公司曾说，自己 持有的日本股票总价值 "远超伯克希尔持有的美国以外任何其他国家的股票总价值"，并计划 "长 期" 持有，比例可能高达 9.9%，但需要董事会特别批准。巴菲特今年 2 月在致股东信中说到，五 大商社同意对伯克希尔 "适度放宽" 持股比例 10% 以下的限制。 松绑 "仅退款" 的平台又多一家。阿里旗下 B2B 电商平台 1688 将于 3 月下旬取消仅退款政策。 此前，买家因质量问题发起仅退款申请后，平台会介入，进行退款，无需商家同意。仅退款政策取 消后，再发生类似情况，平台 ...