截至发稿，罗国庆累计任职时间10年141天，现任基金资产总规模1166.78亿元，任职期间最佳基金回报 103.92%， 任职期间最差基金回报-48.08%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 数据显示，广发基金旗下1只基金位居中材科技十大流通股东。广发国证新能源车电池ETF（159755） 三季度新进十大流通股东，持有股数761.24万股，占流通股的比例为0.45%。根据测算，今日浮亏损失 约2024.91万元。 广发国证新能源车电池ETF（159755）成立日期2021年6月15日，最新规模140.86亿。今年以来收益 2.51%，同类排名4025/5574；近一年收益49.4%，同类排名663/4326；成立以来收益9.6%。 广发国证新能源车电池ETF（159755）基金经理为罗国庆。 2月27日，中材科技跌5.03%，截至发稿，报50.22元/股，成交12.01亿元，换手率1.40%，总市值842.75 亿元 ...

浙商证券研报指出，恩捷股份此前发布2025年度业绩预告2025年：业绩扭亏为盈，预计归母净利润 1.1~1.6亿元，中值1.4亿元，同比增加6.9亿元。锂电池隔膜行业周期拐点，公司作为龙头受益显著。未 来，公司将持续拓展市场，通过降本增效、新品研发、产品结构优化及精细化管理等举措，稳步提升隔 膜销量，进一步巩固全球市场地位，持续优化经营业绩。对应PE分别为475、31、18倍，予以"买入"评 级。 ...

证券研究报告 | 公司点评 | 电池 锂电池隔膜迎拐点，龙头业绩有望爆发 ——恩捷股份点评报告 投资要点 q 事件 1：公司 2026-01-30 发布 2025 年度业绩预告 2025 年：业绩扭亏为盈，预计归母净利润 1.1~1.6 亿元，中值 1.4 亿元，同比增 加 6.9 亿元。扣非后净利润 0.8~1.3 亿元，中值 1.1 亿元，同比增加 7.2 亿元。 2025Q4 单季度：预计归母净利润 2.0~2.5 亿元，中值 2.2 亿元，同比增加 12.2 亿 元，环比增加 2.2 亿元。扣非后净利润 1.7~2.1 亿元，中值 1.9 亿元。 | [Table_Forcast] (百万元) | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业收入 | 10164 | 13230 | 17610 | 20760 | | (+/-) (%) | -16% | 30% | 33% | 18% | | 归母净利润 | -556 | 137 | 2130 | 3572 | | (+/-) (%) | - | - | 14 ...

智通财经APP获悉，GGII数据显示，2025年中国锂电池隔膜行业出货量高速增长，全年总出货量达323亿平， 同比增长45.4%。隔膜行业供需端从宽松转向紧平衡，头部企业满产满销带动产能利用率飙升，而扩产周期限 制下2027年供需缺口隐现。价格端仍处低位，仅湿法隔膜下半年轻微反弹，尚未进入全面上涨周期。 数据来源：高工产研锂电研究所(GGII)，2026年1月 结构分化：干法占比跌破18%，湿法成绝对主导 GGII调研了解，当前隔膜企业对扩产持谨慎态度，主要因固态电池替代预期下隔膜一定程度上被视为"夕阳产 业"，且隔膜属重资产投资，投资回报周期长，企业为回收设备投资抱团涨价态度坚决。 设备端，头部隔膜企业主要采用东芝、布鲁克纳等进口生产线;部分国产供应商如卓勤、中科华联等虽有自有 设备供应商，但关键零部件仍需进口组装，目前无法实现100%国产，而海外设备从订单下发至设备交付通常 需要一年左右，拉长扩产周期。 需求增加而产能未能大规模扩张，预计2026-2027年隔膜行业仍供应紧张。 技术迭代：聚焦高端需求，多维度性能升级加速 2025年隔膜技术迭代聚焦下游需求，多维度突破： 2025年隔膜行业结构重塑加速，干 ...

Core Viewpoint - Zhongcai Technology's stock price has shown significant growth, with a year-to-date increase of 32.11% and a recent surge of 24.09% over the last five trading days, indicating strong market interest and performance [2]. Group 1: Stock Performance - On February 12, Zhongcai Technology's stock rose by 5.89%, reaching 48.01 yuan per share, with a trading volume of 1.595 billion yuan and a turnover rate of 1.99%, resulting in a total market capitalization of 80.567 billion yuan [1]. - The stock has increased by 23.74% over the past 20 days and 46.60% over the past 60 days, reflecting a robust upward trend [2]. Group 2: Financial Performance - For the period from January to September 2025, Zhongcai Technology reported a revenue of 21.701 billion yuan, representing a year-on-year growth of 29.09%, and a net profit attributable to shareholders of 1.48 billion yuan, which is a substantial increase of 143.24% [2]. - The company has distributed a total of 5.712 billion yuan in dividends since its A-share listing, with 2.425 billion yuan distributed over the last three years [3]. Group 3: Shareholder Structure - As of September 30, 2025, Zhongcai Technology had 63,000 shareholders, a decrease of 2.56% from the previous period, with an average of 26,621 circulating shares per shareholder, which is an increase of 2.63% [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 89.8486 million shares, an increase of 73.926 million shares from the previous period [3].

技术攻坚是李晓明布局的核心抓手，也筑牢了企业发展根基。20世纪90年代，他毅然归国投身实业，从 包装材料领域稳健起步，凭借对技术创新的不懈追求，积累了扎实的实业运营经验与深厚的技术沉淀。 2010年，在精准洞察新能源产业的广阔蓝海后，李晓明果断带领企业跨界进军隔膜赛道。在行业发展初 期，他顶住市场波动压力持续加码研发投入，带领技术团队攻克超薄基膜、在线涂布等一系列核心技术 难关，成功打破外资主导的行业技术壁垒，实现国产化替代的关键突破。 全球化的前瞻布局，成为企业穿越行业周期的重要支撑。伴随中国锂电企业海外建厂的热潮，隔膜行业 出海模式已从单纯产品出口升级为本地化生产布局。李晓明主导恩捷率先发力海外核心市场，目前海外 生产基地已顺利实现投产出货，后续海外建厂项目正按规划稳步推进。海外订单的持续落地与基地布局 的逐步完善，让中国隔膜技术在国际舞台上持续彰显核心竞争力。 从技术突围到全球领航，恩捷的发展轨迹深刻印证了长期主义的深厚价值。未来，在李晓明的战略引领 下，企业将继续聚焦核心技术迭代升级，持续深化全球化产能布局，以不懈创新铸就行业标杆，为全球 新能源产业高质量发展注入源源不断的中国动能。 在新能源产业跨越 ...

锂电池"心脏瓣膜"的核心原料制造高端锂电池隔膜，曾长期依赖进口。这种看似普通的白色化工颗粒，正成为撬动新能源产业安全与效能的关键支点。 锂电池"心脏瓣膜"的原料突围 如今，一家中国企业实现了突破。这背后是一场怎样的材料攻坚？企业所在的上海化学工业区又如何为这样的"硬核"创新保驾护航？ 璞烯晶新材料（上海）有限公司执行董事 王艳丽：高端聚乙烯是一个基础材料，主要用在锂电池隔膜、人工关节。现在基本上从原材料、催化剂全部都是 自主研发，国内有供应商可以稳定供货的，基本上已经不再依赖进口了。 锂电池隔膜是位于电池正负极之间、厚度仅为头发丝直径十分之一的一层薄膜。它既要保证锂离子高效通过，又要绝对绝缘，防止短路，其核心原料的纯净 度、分子量一致性直接决定了电池的安全与寿命。 在实验室，记者看到一片高端聚乙烯制成的特种薄膜，技术人员介绍，他们的产品能将金属异物含量控制在极低水平，从根源上提升电池安全性。 璞烯晶新材料（上海）有限公司总工程师 姜鹏翔：我们的目标就是要做到超纯洁净，如果里面有金属异物在生产的锂电池膜里面，就相当于把一根针嵌进 去，对我们的以后安全运行构成很大的隐患。 然而，从实验室的技术到万吨级的稳定量产， ...

Core Insights - Fospower Technology (SZ000973) reached its daily limit up on February 6, 2026, with a price of 13.19 yuan, marking a 10.01% increase and a total market capitalization of 12.76 billion yuan [1] Group 1: Company Developments - The company acquired 100% equity of Jinli New Energy through a combination of share issuance and cash payment, entering the lithium battery separator market, aligning with national industrial policy [1] - The controlling shareholder, Guangxin Group, fully subscribed to 1 billion yuan of supporting funds, increasing its shareholding to 45.79%, indicating strong support for the restructuring [1] - Eight major shareholders committed to ensuring Jinli New Energy's net profits will not be less than 230 million yuan, 390 million yuan, and 580 million yuan for the years 2025 to 2027, providing a performance guarantee for the company [1] Group 2: Market Context - The target company holds a leading technological advantage in the 5μm ultra-thin high-strength separator niche, with a market share of 63%, and has key clients including CATL and BYD [1] - The recent market interest in the new energy lithium battery separator sector has led to positive performance among related stocks, potentially driving capital inflow into Fospower Technology [1] - Technical indicators such as MACD golden cross and BOLL channel breakout may attract further investor buying [1]

2月2日，中材科技跌5.06%，截至发稿，报40.71元/股，成交11.34亿元，换手率1.62%，总市值683.16亿 元。 从基金十大重仓股角度 数据显示，贝莱德基金旗下1只基金重仓中材科技。贝莱德中证500指数增强A（025418）四季度持有股 数10.73万股，占基金净值比例为0.91%，位居第八大重仓股。根据测算，今日浮亏损失约23.28万元。 贝莱德中证500指数增强A（025418）成立日期2025年9月26日，最新规模2.68亿。今年以来收益 10.33%，同类排名1164/5579；成立以来收益11.65%。 资料显示，中材科技股份有限公司位于北京市海淀区东升科技园北街6号院7号楼12层，成立日期2001年 12月28日，上市日期2006年11月20日，公司主营业务涉及大力发展风电叶片、玻璃纤维及制品、锂电池 隔膜三大主导产业,同时从事高压复合气瓶、膜材料及其他复合材料制品的研发、制造及销售。主营业 务收入构成为：风电叶片39.01%，玻璃纤维及制品28.05%，锂电池隔膜6.96%，技术与装备6.44%，工 程复合材料5.99%，高压气瓶4.77%，先进复合材料4.12%，膜材料制品3.2 ...

Core Insights - The lithium battery core material shipment volume is expected to achieve year-on-year growth by 2025, with a clear concentration of leading companies in the industry [2] - The lithium material industry is entering a new phase of value competition by 2026, with a focus on technological innovation and supply chain resilience [7] Positive Electrode Materials - Lithium Iron Phosphate - In 2025, China's lithium iron phosphate positive electrode material shipment volume reached 3.944 million tons, a year-on-year increase of 62.5%, accounting for 79.1% of the total positive electrode material shipment volume [3] - The top ten companies in this segment include Hunan YN, Wanrun Energy, and Defang Nano, with Hunan YN leading with over 1 million tons and a market share of approximately 29.8%-30% [3] Positive Electrode Materials - NCM - In 2025, China's NCM material shipment volume reached 786,000 tons, a year-on-year increase of 22.2% [4] - The leading companies in this segment are Nantong Ruixiang, Tianjin Bamo, and Rongzhi Technology, with Nantong Ruixiang achieving nearly 200,000 tons in shipments [4] Negative Electrode Materials - In 2025, China's negative electrode material shipment volume reached 2.922 million tons, a year-on-year increase of 38.1% [5] - The top three companies, including Better Energy, Shanghai Shanshan, and Zhongke Xingcheng, collectively hold a market share of 50.9% [5] Electrolytes - In 2025, global lithium-ion battery electrolyte shipment volume grew by 44.5% to 2.402 million tons, with China's actual shipment volume reaching 2.235 million tons, accounting for 93.05% of the global market [6] - The leading companies in this segment include Tianci Materials and BYD, with Tianci Materials achieving a shipment volume of 720,000 tons and a market share of 32.2% [6] Separators - In 2025, China's lithium-ion battery separator total shipment volume reached 32.85 billion square meters, a year-on-year increase of 44.4% [7] - The top companies in this segment include Shanghai Enjie and Hebei Jinli, with Shanghai Enjie achieving nearly 10 billion square meters in shipments and a market share exceeding 30% [7] Industry Outlook for 2026 - By 2026, global lithium-ion battery shipment volume is expected to reach 3,016.3 GWh, with a year-on-year growth of approximately 30% [7] - The industry is anticipated to see intensified competition among leading companies and accelerated exit of weaker players, driven by the expansion of the energy storage market and growth in new energy vehicle exports [7]