Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company's profitability is pressured by declining lithium prices, with a focus on the potential growth of small metals and copper resources [4][9]. - In Q2 2025, the company reported a net profit attributable to shareholders of -0.46 billion yuan, a year-on-year decrease of 121% and a quarter-on-quarter decrease of 134% [2][4]. - The company is diversifying its metal resources, with steady development in lithium and rubidium-cesium segments, while accelerating the expansion into gallium, germanium, and copper [9]. Financial Performance - In H1 2025, the company achieved lithium salt sales of 17,900 tons, a year-on-year increase of 6.37%, and began direct sales of self-produced lithium concentrate, with sales of 34,800 tons [9]. - The rubidium-cesium segment generated revenue of 708 million yuan in H1 2025, a year-on-year increase of 50.43%, with a gross profit of approximately 511 million yuan, also up by 50.15% [9]. - The copper smelting business faced a net profit loss of approximately 200 million yuan due to a significant decline in industry processing fees [9]. Future Outlook - The company is advancing its lithium sulfate project in Africa and enhancing resource utilization efficiency at the Tanco mine in Canada [9]. - A lithium salt technical transformation project commenced in June 2025, expected to increase smelting capacity by 5,000 tons while reducing costs [9]. - The copper segment is progressing with the Kitumba copper mine project, with initial design work completed and construction underway [9].

进固态电池群 ，加小编微信：13248122922 注：添加好友请备注 公司名称、姓名、职务，入群需发送1张您的纸质名片~ 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ END 本文来源： 宜春市生态环境局 7月30日，江西省宜春市生态环境局发布奉新九岭锂业有限公司 年产50,000吨锂电材料项目 （一期）环 境影响评价文件审批决定的公告。 据悉，项目拟建于江西省宜春市奉新县高新技术产业园区南区，项目分期建设，本期环评为"年产20,000 吨碳酸锂联产铷铯盐项目及万吨级全过程中试工程与数字化管控先导C配套项目。公告显示， 本项目总投 资100,000万元（立项投资额），其中环保投资约1200万元，约占总投资的1.2%。 ...