Group 1: Report Overview - Report date: July 17, 2025 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3] - Report name: Carbonate Lithium Futures Daily Report [1] Group 2: Investment Rating - Not provided Group 3: Core View - The futures market of carbonate lithium shows irrational fluctuations, and the spot market continues to rise but the upward trend slows down. The downstream procurement demand is weak, and the current high - supply and high - inventory fundamentals are unfavorable for the long side, but the capital and anti - involution policies are favorable for the long side. Short - term observation is recommended [12] Group 4: Market Review and Operation Suggestions - Carbonate lithium futures opened high and closed low, with a slight decline in total positions. The upward trend of related anti - involution varieties also slowed down. The spot market continued to rise but the increase was significantly slower, with electric carbon rising by 50 to 64,950. The irrational fluctuations in the futures market continued. The downstream procurement demand was weak due to factors such as long - term contract coverage and high customer - supplied ratios. The price of Australian ore rose by 5 to 695 US dollars per ton. The profitability of salt plants using purchased lithium spodumene decreased to 347, and the losses of salt plants using purchased mica decreased to 6,769. The futures market provided hedging profits, and salt plants had high production enthusiasm. Short - term observation was recommended [12] Group 5: Industry News - A fire broke out at an energy company in Xiaogang District, Kaohsiung, Taiwan, China on the 14th, causing injuries to 12 employees and 3 firefighters. The battery factory has an annual production capacity of 1.8GW [13] - Geely Holding Group announced that Geely Auto will acquire all the remaining shares of ZEEKR. ZEEKR shareholders can choose cash or Geely Auto shares as consideration [13] - SK on's North American factory fully resumed operation after three years. Its 12 battery production lines in the US factory are operating at full capacity, and the daily battery output is expected to be more than three times that of last year [13]

Core Points - A fire broke out at the San Yuan Energy Company in Kaohsiung's Xiaogang District, resulting in injuries to 12 employees and 3 firefighters [1][2] - The company is Taiwan's first super battery factory, with an annual production capacity of 1.8 GW, sufficient to produce batteries for 24,000 electric vehicles [2] Incident Details - The fire started early in the morning, prompting a response from 46 rescue vehicles and 91 personnel [1] - Robots were deployed for firefighting efforts, and all injured individuals received medical treatment [1] - The cause of the fire and the extent of property damage are still under investigation [3] Company Overview - San Yuan Energy specializes in high-performance nickel-cobalt-manganese batteries, known for their high capacity and power [2] - The factory is strategically located near Kaohsiung International Airport, but the fire did not affect flight operations [2]

Core Viewpoint - A fire broke out at the San Yuan Energy Technology lithium battery factory in Kaohsiung, Taiwan, causing injuries and impacting the stock price of the parent company, Taiwan Cement Corporation (台泥集团) [1][8]. Group 1: Incident Details - The fire occurred early in the morning, with significant smoke and explosions reported. Emergency services deployed 46 rescue vehicles and 91 personnel to the scene [1]. - The incident resulted in 12 employees sustaining minor injuries and 3 firefighters suffering minor burns, all of whom were treated at medical facilities [1]. - The cause of the fire and the extent of property damage are still under investigation [6]. Group 2: Company Background and Impact - San Yuan Energy Technology's Kaohsiung lithium battery factory is Taiwan's first super battery factory, with an annual production capacity of 1.8 GW, sufficient to produce batteries for 24,000 electric vehicles [4]. - The factory is part of Taiwan Cement Corporation's strategic shift towards energy technology, having been established with an investment of nearly NT$20 billion in 2021 [8]. - Following the fire, Taiwan Cement's stock price fell significantly, dropping over 3% and reaching a new low since Q2 2009, although it later recovered somewhat [8]. Group 3: Production and Market Challenges - Despite stable output capabilities and certifications from major international clients, the company has not yet achieved profitability, producing approximately 7 to 8 million batteries monthly, with a potential capacity of 20 million [8]. - The company faces challenges due to a significant decline in battery prices and increased competition in the international market, making it difficult to maintain a competitive edge despite product quality and efficiency [8]. Group 4: Share Buyback Activity - Taiwan Cement Corporation has been actively repurchasing shares, having bought back 10 million shares between July 1 and August 1, and plans to repurchase an additional 28 million shares from August 4 to August 29, aiming to protect company credit and shareholder interests [9].

Core Viewpoint - A fire broke out at the Sanyuan Energy Company in Kaohsiung, Taiwan, which is the first super battery factory in Taiwan, producing high-capacity nickel-cobalt-manganese batteries for electric vehicles [1] Group 1: Incident Details - The fire started early in the morning, leading to the deployment of 46 rescue vehicles and 91 personnel for firefighting efforts [1] - 12 employees suffered minor injuries, and 3 firefighters experienced slight burns, all of whom have been sent for medical treatment [1] - The cause of the fire and the extent of property damage are still under investigation [1] Group 2: Company and Production Capacity - Sanyuan Energy Technology's Kaohsiung lithium battery plant has an annual production capacity of 1.8 gigawatts, sufficient to produce batteries for 24,000 electric vehicles per year [1] - The factory is part of the Taiwan Cement Group, indicating its significance in the local and national energy sector [1] Group 3: Environmental Impact - Due to the fire, the Kaohsiung city government warned residents about potential air pollution, advising them to stay indoors and close windows [1] - The wind direction is currently northeast, which may carry pollutants southwest, affecting nearby areas [1]

Core Points - A fire and explosion occurred at the Sanyuan Energy Technology Company in Kaohsiung, Taiwan, resulting in multiple injuries and air pollution alerts for the local area [1][2] - The affected facility is Taiwan's first super battery factory, operated by the Taiwan Cement Corporation, and began operations in 2023 [3] Group 1: Incident Details - The fire broke out at 5:10 AM on July 14, 2023, in the battery semi-finished product warehouse during the first charging operation [2] - The incident resulted in 15 individuals being sent to the hospital, including 12 employees with minor injuries and 3 firefighters with minor burns [2] - The local government issued air pollution warnings, advising residents to stay indoors and close windows due to the northeast wind carrying pollutants [2] Group 2: Company and Production Capacity - Sanyuan Energy Technology produces high-performance nickel ternary batteries with an annual capacity of 1.8 GW, sufficient to supply batteries for 24,000 electric vehicles [3] - The company is facing penalties from the environmental department for mismanagement related to air pollution regulations, with fines ranging from NT$100,000 to NT$5 million [2]

Core Points - A fire broke out at the San Yuan Energy Company in Kaohsiung's Xiaogang District, resulting in injuries to 12 employees and 3 firefighters [1][7] - The company is Taiwan's first super battery factory, producing high-capacity nickel ternary batteries with an annual capacity of 1.8 GW, sufficient for 24,000 electric vehicles [5] Group 1 - The fire started early in the morning, with significant smoke and explosions reported [1] - The local fire department deployed 46 rescue vehicles and 91 personnel to the scene, utilizing robots for firefighting efforts [1] - The cause of the fire and the extent of property damage are still under investigation [7] Group 2 - The San Yuan Energy Technology lithium battery plant is located near Kaohsiung International Airport, but the fire did not affect flight operations [3]

Core Viewpoint - The explosion at the "super battery factory" in Kaohsiung, Taiwan, has led to injuries and significant stock price drops for the parent company, Taiwan Cement Corporation (台泥集团) [2][10]. Incident Summary - The explosion occurred at 5:04 AM on July 14, resulting in 12 employees and 4 firefighters being injured and sent to the hospital [5][6]. - The cause of the explosion is still under investigation, and the fire department deployed 46 vehicles and 91 personnel to control the fire [6][5]. - The factory is Taiwan's first "super battery factory," producing high-capacity nickel ternary batteries with an annual capacity of 1.8 GW, sufficient to supply batteries for 24,000 electric vehicles per year [7][11]. Stock Market Impact - Following the explosion, Taiwan Cement's stock price fell sharply, dropping over 3% and reaching a new low since the second quarter of 2009, with prices dipping below NT$23 per share [10][3]. - The company had invested nearly NT$20 billion in establishing the super battery factory in 2021, marking a key transition into energy technology [11]. Production and Market Position - The factory employs high standards similar to the semiconductor industry and utilizes self-developed EnergyArk safety cement storage cabinets for energy management [12]. - Despite stable output capabilities and certifications from major international clients, the company is currently not profitable, with monthly shipments of 7 to 8 million batteries against a potential capacity of 20 million [12]. - The company faces challenges due to significant declines in battery prices and increased competition in the international market [13].

Core Viewpoint - A fire broke out at the San Yuan Energy Company in Kaohsiung, Taiwan, causing injuries but no significant impact on nearby airport operations [1][2]. Group 1 - The fire occurred early in the morning, prompting a response from 46 rescue vehicles and 91 personnel, with the use of robots for firefighting [1]. - The incident resulted in 12 employees sustaining minor injuries and 3 firefighters experiencing slight burns, all of whom were treated at medical facilities [1]. - San Yuan Energy is Taiwan's first super battery factory, with an annual production capacity of 1.8 GW, sufficient to produce batteries for 24,000 electric vehicles [2]. Group 2 - The cause of the fire and the extent of property damage are still under investigation [3].