蜂巢能源董事长兼首席执行官杨红新对此有更直接的体感，他在接受经济观察报记者采访时，并没 有回避公司在成本控制与盈利能力上面临的挑战。"我们原来不盈利，主要原因就是成本高。"他坦 言，"（未来要盈利）大概80%的贡献将来自成本的降低。" 杨红新的这番话，指向的不仅是蜂巢能源一家的问题，更是整个行业一个庞大群体的集体困境。根 据中国汽车动力电池产业创新联盟的数据，截至2025年6月，宁德时代（300750.SZ）与比亚迪 （ 002594.SZ ） 合 计 占 据 了 超 过 65% 的 市 场 份 额 ， 而 排 名 其 后 的 数 家 企 业 ， 如 中 创 新 航 （03931.HK）、国轩高科（002074.SZ）、亿纬锂能（300014.SZ）、欣旺达（300207.SZ）及蜂 巢能源等，单家份额均在2%～8%之间，构成了动力电池产业的"第二阵营"。 这个阵营在2024年经历了普遍的盈利挑战。以欣旺达为例，其动力电池业务主体当年净亏损达 15.87亿元；国轩高科同年营收虽有增长，归母净利润却近乎原地踏步；即便是被视为该阵营中坚 力量的亿纬锂能，其于2025年6月呈报的港股《招股说明书》也显示，其动力电池 ...

Core Viewpoint - The lithium battery industry is currently facing significant challenges due to intense price competition, a consequence of previous aggressive capacity expansion, leading to a consensus on the need for "anti-involution" strategies to stabilize the market and improve profitability [1][2][3] Industry Challenges - The lithium battery supply chain is experiencing continuous price declines, approaching cost lines, resulting in widespread survival difficulties for companies [1][2] - A significant number of listed companies in the lithium battery sector reported profit declines, with 65 out of 104 companies experiencing net profit drops last year, and over 60 companies seeing year-on-year gross margin reductions [1][2] Causes of Involution - The current "involution" in the lithium battery industry is primarily driven by low-price competition, stemming from the overcapacity created by previous years' aggressive expansion [2] - Local governments' incentives for lithium battery projects have led to an oversupply situation, with many companies now facing a market where demand does not meet the inflated production capacity [2] Proposed Solutions - Industry associations have called for a shift in focus from price competition to quality and innovation, advocating for a coordinated approach to enhance the industry's health [3] - Accelerating supply-side reforms and promoting the exit of outdated capacities are seen as immediate solutions to address the supply-demand mismatch [3][4] Market Adjustments - Some companies are beginning to reassess their expansion plans, with notable cancellations of previously planned projects, indicating a more cautious approach to capacity growth [4] - The government is encouraged to play a regulatory role to prevent blind investments and manage capacity effectively from the outset [5] Shift to Value Competition - There is a growing consensus that the industry should transition from "price competition" to "value competition," emphasizing technological innovation as a key driver for future success [6][7] - Leading companies are focusing on developing advanced battery technologies to enhance product competitiveness and profitability [7][8] Technological Innovations - The industry is witnessing rapid advancements in battery materials and technologies, with companies like Ningde Times and EVE Energy launching innovative products that improve performance and safety [8][9] - The introduction of stringent safety standards is expected to further elevate industry entry barriers and accelerate the exit of underperforming capacities [9]

Core Viewpoint - The article discusses the collaboration between Fulian Precision and Chuanfa Longmang in the lithium iron phosphate (LFP) sector, focusing on high-pressure dense LFP technology and its market implications [4][5][6]. Group 1: Event Overview - The 2025 Fifth Start Point Two-Wheeled Vehicle Battery Swap Conference and Lightweight Power Battery Technology Summit will be held on July 11, 2025, in Shenzhen [2]. - The event is sponsored by various industry leaders, including Yadi Technology Group, Tailin Group, and others [2]. Group 2: Collaboration Details - Fulian Precision and Chuanfa Longmang signed a cooperation framework agreement to collaborate on equity and capital, LFP projects, and precursor projects [4]. - They plan to establish a joint venture for a 100,000 tons/year high-pressure dense LFP project and another for a 100,000 tons/year lithium dihydrogen phosphate precursor project [4][5]. Group 3: Market Position and Performance - Fulian Precision has seen significant growth, with a revenue of 8.47 billion yuan in 2024, a 47.02% increase year-on-year, and a net profit of 397 million yuan, marking a turnaround from losses [9][10]. - The company’s high-pressure dense LFP production capacity is expected to increase from 215,000 tons to 300,000 tons within the year [11]. Group 4: Industry Dynamics - The high-pressure dense LFP market is characterized by a few key players, including Fulian Precision and Hunan Youneng, with increasing production capabilities and product offerings [14][19]. - Companies like Defang Nano and Longpan Technology are also advancing their high-pressure dense LFP products, indicating a competitive landscape with diverse technological approaches [15][18].

Core Viewpoint - The lithium iron phosphate (LFP) market is experiencing contrasting dynamics, with some companies halting expansion projects while others continue to secure large orders and expand capacity [2][4]. Group 1: Market Demand and Production - In May, LFP production reached 287,900 tons, a 7.15% increase from April, with expectations for June production to rise to 294,600 tons [2]. - The overall demand for LFP remains high this year, but the market is shifting away from low-price competition towards a focus on higher performance [2][4]. - The strong growth of LFP batteries is evident, with April 2025 data showing a vehicle installation volume of 44.8 GWh, accounting for 82.8% of total installations, representing a year-on-year growth of 75.9% [4]. Group 2: Technological Advancements and Contracts - CATL has signed agreements to secure LFP production capacity, including a 5 billion yuan prepayment to support the construction of a 160,000-ton annual capacity line [3]. - The trend in technological iteration is towards high-pressure dense LFP products, which have a density greater than 2.5-2.6 g/cm, indicating a shift towards higher-end products [5]. - The market is seeing a structural reform driven by technological upgrades, with second-generation products being phased out in favor of new technologies [4][5]. Group 3: Industry Dynamics and Competition - Some companies are terminating LFP expansion projects due to changes in market supply and demand dynamics, with notable examples including Zhongke Titanium White and Guangdong Fangyuan New Materials [5]. - The industry is undergoing a significant reshuffle, with market concentration increasing as leading manufacturers secure more orders and focus on high-pressure LFP supply capabilities [5]. - Despite holding long-term contracts, leading manufacturers face challenges in achieving reasonable profits amid rapid cost reduction pressures [4][5].

Group 1 - Fujin Precision Engineering's subsidiary Jiangxi Shenghua signed a supplementary agreement with CATL to revise a previous business cooperation agreement, with CATL paying a prepayment of 500 million yuan to support the construction of production capacity [1] - The revised agreement allows Jiangxi Shenghua to prioritize supplying 100% of its production capacity to CATL from 2025 to 2029, with a minimum annual procurement volume of 80% of the committed capacity [1] - This collaboration is expected to enhance the company's competitiveness and positively impact its performance if executed smoothly [1] Group 2 - The lithium iron phosphate (LFP) sector is witnessing significant long-term contracts, with Wanrun New Energy securing a major order from CATL for approximately 1.32 million tons of supply from 2025 to 2030, valued at over 40 billion yuan [3] - Other companies like Longpan Technology and BYD are also entering into substantial agreements for LFP supply, indicating a growing trend in the industry [3] - The dominance of LFP batteries is solidifying, with LFP battery installation in China's power battery sector reaching 150.0 GWh in the first four months of the year, accounting for 81.4% of total installations, and showing an 88.0% year-on-year growth [4] Group 3 - The global energy storage market is increasingly adopting LFP batteries, with projections indicating that LFP will account for 92.5% of global energy storage batteries by 2024 [4] - Major international automakers are shifting towards LFP technology, with Volkswagen announcing that all its electric vehicle models will use LFP batteries starting in 2026 [4] - The industry is experiencing a divergence in market dynamics, with high-end products becoming crucial for success, while low-end capacities face elimination due to changing supply-demand relationships [4]

Group 1 - The 2025 High-Performance Sodium Battery Industry Summit will be held on June 9 in Suzhou, organized by GGII and sponsored by Zhongna Energy [2] - The 2025 High-Solid-State Battery Technology and Application Summit is scheduled for June 10 in Suzhou, organized by GGII and sponsored by Liyuanheng [3] Group 2 - BYD reported a record high in battery installations for May 2025, with a total of approximately 28.476 GWh, representing a year-on-year increase of 101.12% and a month-on-month increase of 7.55% [3] - Cumulative installations for 2025 reached approximately 107.507 GWh [3] Group 3 - CATL signed a strategic cooperation agreement with Dongfeng Nissan to enhance collaboration in battery technology research, product innovation, and market expansion [4] - CATL also signed a strategic cooperation agreement with the Lanzhou Municipal Government to focus on new energy battery aftermarket construction and zero-carbon city development [7] Group 4 - Guangdong Meizhou's ecological environment bureau accepted an environmental impact report for a project aimed at recycling 60,000 tons of waste lithium batteries annually, with an investment of 651 million yuan [8] - Six Countries Chemical plans to raise up to 800 million yuan for a project to produce 280,000 tons per year of battery-grade refined phosphorus [9] - Hubei Shengxinbao signed a 1 billion yuan investment project for lithium battery electrode columns, expected to generate an annual output value of 500 million yuan [11] Group 5 - Rongbai Technology reported full production and sales of its lithium manganese iron phosphate products, with significant demand expected to continue into 2026 [12] - Longpan Technology secured a long-term contract with Eve Energy for the sale of 152,000 tons of lithium iron phosphate cathode materials, with total sales expected to exceed 5 billion yuan [15]

1、7999元起！华为鸿蒙电脑正式发布 重要程度：★★★★★ 随着5月19日华为nova14系列首发即搭载鸿蒙5（原生鸿蒙）操作系统以及华为首款鸿蒙折叠电脑的正式发 布，作为国产操作系统代表的鸿蒙5，开始跑出生态拓展加速度。 该电脑展开18英寸，折叠13英寸，展开薄至7.3mm，重量为1.16kg，首次实现了移动端与电脑端生态的深 度融合，将鸿蒙5正式拓展至电脑领域即桌面端。 价格方面，华为全球首款鸿蒙笔记本电脑HUAWEI MateBook Pro，售价7999元起；华为全球首款鸿蒙折叠 电脑HUAWEI MateBook Fold售价23999元起。 以下为晚报正文： 2、外汇局：外资配置人民币资产意愿持续向好 重要程度：★★★★ 日前，国家外汇管理局公布了2025年4月银行结售汇和银行代客涉外收付款数据。国家外汇管理局副局 长、新闻发言人李斌表示，外资配置人民币资产意愿持续向好。4月外资净增持境内债券109亿美元，处于 较高水平。4月下旬外资投资境内股票转为净买入。 随着有关政策落地见效，我国经济运行向好势头有望继续巩固，更好发挥稳定外汇市场的基本盘作用。 3、新华保险获批参与第三批保险资金长期投资改革 ...

A股复盘 |周末吹爆的题材好像不错呢 / 2025.05.19 今天这周末吹爆的题材倒是还可以！不过整体行情有点子无聊，早上买入后就没 管了！ 行情无聊到群里都鸦雀无声，只有早安、午安、晚安。 今天4月经济数据出来了，工业增加值和社零还是可以的，但房地产全面转弱， 销售遇冷， 投资降幅扩大， 价格下跌，连一线城市都涨不动了。这也印证了4月 金融数据信贷需求的疲软。 具体来看： 4月工业增加值同比增长6.1% 较前值下滑1.6个百分点 4月社零同比增长5.1% 较前值下滑0.8个百分点 前四月固定资产投资同比增长4.0% 较前值下滑0.2个百分点 前四月房地产开发投资同比降幅扩大至10.3%，前值9.9% 之前高盛就在调研中指出， 关税和出口下降可能导致未来几个月房地产市场再次 面临下行压力。 在出口活动更集中的地区（如长江三角洲和珠江三角洲），出口 导向型中小企业主可能会遇到现金流困难，被迫出售房产。 广发证券总结4月经济数据亮点： 一是在外生冲击下，实际增长虽有放缓但仍韧 性较强，一些新兴产业领域产品扩张较快；二是产销率没有显性变化，供求关系 没有因为外生冲击大幅承压；三是消费修复速度略超预期，不含汽车的4 ...

万润新能公告，公司自2025年5月起向宁德时代（300750）供应磷酸铁锂产品，预计2025年至2030年总 供货量约132.31万吨。宁德时代承诺期间每月度采购量不低于公司承诺量的80%。本协议为公司日常经 营重大合同，利于公司与下游客户建立长期合作关系，促进产品稳定销售，提升持续经营能力、核心竞 争力和市场占有率。若顺利履行，将对公司当期及未来业绩产生积极影响。 ...

证券代码：830809 证券简称：安达科技 公告编号：2025-042 □现场参观 □新闻发布会 □分析师会议 贵州安达科技能源股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 12 日 活动地点：全景网"投资者关系互动平台"（https://ir.p5w.net） 参会单位及人员：通过网络方式参与公司本次业绩说明会的投资者 上市公司接待人员：1、公司董事长、总经理：刘建波先生；2、公司独立董 事：廖信理先生；3、公司副总经理、董事会秘书：李建国先生；4、公司财务负 责人：申小林先生；5、公司保荐代表人：赵倩女士、谢博维先生。 三、 投资者关系活动主要内容 本次业绩说明会公司就投资者普遍关注的问题进行了沟通与交流，主要问 题及回复如下： 问题 1：公司 4 月份的设备开工率是多少？订单量是否饱和？公司二季度 排产如何？ 回复： ...