每经记者｜黄辛旭 每经编辑｜余婷婷 图片来源：东方财富网 受固态电池产业利好影响？ 10月9日收盘，宁德时代（300750.SZ）股价报收409.89元/股，涨幅1.96%。 值得关注的是，宁德时代A股总市值盘中再超贵州茅台。10月9日收盘，宁德时代总市值达1.87万亿元，而贵州茅台当日总市值约为1.80万亿元。 从时间维度来看，宁德时代A股股价上行趋势自8月初便已显现。8月1日，其股价还在262.07元/股；9月25日，则迎来里程碑时刻，股价一度突破400元大 关。8月1日至今，宁德时代A股股价涨幅达到56.4%，其股价不断走高背后原因何在？ 而上述提及的"阴离子调控技术"则通过在电解质里加入碘离子，在电场的作用下，碘离子可以在电极界面形成一层富碘界面。该界面会主动吸引锂离子，自 动填充缝隙和孔洞，实现固态电解质和金属锂电极的紧密接触。 业内认为，这一研究成果解决了固态锂电池界面难题，是推进全固态电池产业化的重要里程碑，产业化进程将得到加速。 布局高压实密度磷酸铁锂 除了受固态电池产业进展的利好带动，宁德时代的这轮股价爆发实际已经持续一段时间。8月至今，宁德时代A股股价从262.07元/股一路上涨到了目前的 ...

富临精工（300432.SZ）与宁德时代（300750.SZ；3750.HK）的战略合作，正式迈入关键转折阶段。 其中，宁德时代将出资25.63亿元，持股比例提升至51%，实现对江西升华的控股。次日，富临精工股 价应声走强，盘中触及20%涨停维持至收盘，报收22.22元/股，最新市值380亿元。 同日，宁德时代A股涨1.17%，H股涨幅4.48%，总市值再度超越贵州茅台，也标志着新能源产业对传统 消费产业的历史性超越。 多次合作到深度绑定 富临精工的核心业务涵盖锂电正极材料、汽车发动机和变速箱精密零部件。此外，富临精工还加码了机 器人智能电关节模组及零部件等业务，横跨多条硬科技赛道。 2024年，富临精工营收84.70亿元，其中控股子公司江西升华营收48.29亿元、控股子公司绵阳富临精工 新能源营收16.84亿元；2024年净利4.02亿元。 宁德时代与富临精工的合作最早可追溯至2021年，彼时宁德时代开始战略性布局磷酸铁锂上游产业链， 对江西升华增资了2000万；随后于2022年2月追加增资1.44亿元，将持股比例增至20%。 2024年8月12日，双方签署《业务合作协议》，宁德时代承诺2025年至2027 ...

富临精工（300432）(300432.SZ)与宁德时代（300750）(300750.SZ；3750.HK)的战略合作，正式迈入关键转折阶段。 9月29日晚，富临精工公告与宁德时代拟共同对前者子公司江西升华增资扩股。 其中，宁德时代将出资25.63亿元，持股比例提升至51%，实现对江西升华的控股。次日，富临精工股价应声走强，盘中触及20%涨停维持至收盘，报收 22.22元/股，最新市值380亿元。 同日，宁德时代A股涨1.17%，H股涨幅4.48%，总市值再度超越贵州茅台（600519），也标志着新能源产业对传统消费产业的历史性超越。 多次合作到深度绑定 富临精工的核心业务涵盖锂电正极材料、汽车发动机和变速箱精密零部件。此外，富临精工还加码了机器人智能电关节模组及零部件等业务，横跨多条硬 科技赛道。 2024年8月12日，双方签署《业务合作协议》，宁德时代承诺2025年至2027年每年至少采购14万吨磷酸铁锂。在2025年3月10日，江西升华增资扩股中，宁 德时代出资4亿元，将持股比例提升至18.74%。同时，双方在今年的6月5日签订的《业务合作协议》补充协议，将合作期限从2025—2027年延长至2025 ...

9月29日晚间有新能源电池产业的大新闻，行业龙头宁德时代（300750.SZ）罕见地以增资入股方式，拟对另一家上市公司的子公司实现 控股。 富临精工（300432.SZ）公告称，富临精工与宁德时代拟向江西升华新材料有限公司（以下简称"江西升华"）增资35.6亿元，其中宁德时 代拟增资25.63亿元，增资后的持股比例为51%。 《每日经济新闻》记者测算发现，宁德时代3月就已入股江西升华。江西升华为何让宁德时代一再青睐？答案或在磷酸铁锂材料里的高压 实密度路线上。 9月30日开盘，宁德时代A股港股股价双双上涨。截至中午休市，宁德时代A股涨超1%，港股涨近3%。 宁德时代对江西升华的"偏爱"不只是如此。向来是电池龙头的它甚至要以支付预付款的形式锁定江西升华的磷酸铁锂产能。 今年6月，双方签订补充协议，宁德时代向江西升华支付5亿元预付款，支持其江西基地（16万吨/年产能）和"四川三期"项目（20万吨/年 产能）建设。江西升华承诺2025年—2029年期间100%产能优先用于生产符合宁德时代要求的材料，宁德时代承诺期间每年采购量不低于 江西升华承诺产能的80%。 业内人士：高压实密度磷酸铁锂 4亿元后是25.6亿元 宁 ...

每经记者｜胥帅 每经编辑｜段炼 文多 9月29日晚间有新能源电池产业的大新闻，行业龙头宁德时代（300750.SZ）罕见地以增资入股方式，拟对另一家上市公司的子公司实现控股。 4亿元后是25.6亿元 宁德时代一年内拟再度投资标的公司 9月29日晚间，富临精工披露，其与宁德时代拟共同对江西升华增资扩股，富临精工拟增资10亿元，认购江西升华新增注册资本8.13亿元，宁德时代拟增 资25.6亿元，认购江西升华新增注册资本20.8亿元。本次交易完成后，宁德时代持有江西升华的股权比例为51%，富临精工持有江西升华的股权比例为 47.4096%。 这意味着宁德时代计划代替富临精工成为江西升华的控股股东。 此事预计将构成重大资产重组。富临精工副董事长李鹏程向记者表示，涉及这类型的重大资产重组时只需要走简易程序，不需要停牌。 富临精工（300432.SZ）公告称，富临精工与宁德时代拟向江西升华新材料有限公司（以下简称"江西升华"）增资35.6亿元，其中宁德时代拟增资25.63亿 元，增资后的持股比例为51%。 《每日经济新闻》记者测算发现，宁德时代3月就已入股江西升华。江西升华为何让宁德时代一再青睐？答案或在磷酸铁锂材料里的 ...

Core Viewpoint - CATL is making significant moves to strengthen its position in the upstream materials industry by increasing its stake in Jiangxi Shenghua New Materials Co., Ltd. through a capital increase and share expansion, which is expected to enhance strategic cooperation and accelerate the development of high-quality lithium iron phosphate products [1][2][4]. Group 1: Investment and Shareholding Structure - Fulin Precision plans to invest 1 billion RMB in Jiangxi Shenghua, acquiring an additional registered capital of 813 million RMB, while CATL intends to invest 2.563 billion RMB for a new registered capital of 2.084 billion RMB [2]. - Before the capital increase, Fulin Precision held a controlling stake of 79.57% in Jiangxi Shenghua, while CATL owned 18.74%. Post-investment, CATL will become the controlling shareholder with a 51% stake, and Fulin Precision's stake will reduce to 47.41% [4][5]. Group 2: Financial Performance and Market Position - Jiangxi Shenghua's revenue for 2022, 2023, and 2024 is projected to be 4.879 billion RMB, 2.808 billion RMB, and 4.829 billion RMB, respectively, with net profits of 288 million RMB, -1.053 billion RMB, and -283.6 million RMB [8]. - In the first half of 2025, Jiangxi Shenghua reported a revenue of 3.958 billion RMB and a net profit of 63.78 million RMB, indicating a significant increase in sales volume and revenue from lithium iron phosphate [8][10]. - Jiangxi Shenghua has a production capacity of 300,000 tons for high-pressure dense lithium iron phosphate, which is recognized for its performance advantages in fast charging and energy density [10]. Group 3: Industry Outlook - The lithium iron phosphate industry is expected to enter a new growth phase after experiencing a period of losses due to rapid capacity expansion and declining raw material prices [8]. - The market for high-pressure dense lithium iron phosphate is becoming increasingly competitive, with only a few leading companies achieving mass production, suggesting a trend towards consolidation among top and low-cost enterprises by 2025 [11].

Core Viewpoint - Fulin Precision and CATL plan to increase capital and expand shares in Jiangxi Shenghua, which is expected to constitute a major asset restructuring, signaling CATL's strategic move into the upstream materials industry [1][3]. Company Summary - Fulin Precision announced a capital increase of 1 billion yuan in Jiangxi Shenghua, acquiring an additional registered capital of 813 million yuan, while CATL plans to invest 2.563 billion yuan for a new registered capital of 2.084 billion yuan [3]. - Before the capital increase, Fulin Precision held a controlling stake of 79.57% in Jiangxi Shenghua, while CATL owned 18.74%. Post-expansion, CATL will become the controlling shareholder with a 51% stake, and Fulin Precision will hold 47.41% [5]. - The board of directors of Jiangxi Shenghua will consist of 7 members, with CATL appointing 4 and Fulin Precision appointing 3. The chairman will be appointed by CATL [8]. Industry Summary - The lithium iron phosphate (LFP) industry is expected to enter a new growth phase. Jiangxi Shenghua's capital increase will enhance its operational capabilities and competitive advantages [9]. - Jiangxi Shenghua's revenue for 2022, 2023, and 2024 is projected to be 4.879 billion yuan, 2.808 billion yuan, and 4.829 billion yuan, respectively, with net profits of 288 million yuan, -1.053 billion yuan, and -283.61 million yuan [9]. - As of June 30, 2025, Jiangxi Shenghua's revenue reached 3.958 billion yuan, with a net profit of 63.78 million yuan, driven by increased sales of lithium iron phosphate [10]. - Jiangxi Shenghua has a production capacity of 300,000 tons of high-pressure dense lithium iron phosphate, which is expected to enhance battery fast-charging performance and increase market share [12].

【导读】富临精工与宁德时代拟对江西升华增资扩股，预计构成重大资产重组 中国基金报记者 邱德坤 布局上游材料产业，宁德时代再次发出重要信号。 9月29日晚间，富临精工公告称，公司与宁德时代拟共同对子公司江西升华新材料有限公司（以下简称 江西升华）增资扩股，预计构成重大资产重组。 富临精工与宁德时代通过此次增资扩股，有望进一步提升战略合作关系，并且加快推进江西升华在优质 磷酸铁锂产品研发与生产、国际化拓展、供应链升级及储能市场发展等方面的进程。 截至9月29日收盘，富临精工股价报18.52元/股，涨幅达6.68%，总市值为316.6亿元。 富临精工 ㊣ = 8 7 kb 300432 融 深股通 L1 ▼ 1 8,5 2 今开 17.60 最高 18.86 最低 17.43 6.68% 1.16 换手⊙ 10.57% 总手 178.7万 金额 32.53亿 总值☺316.6亿 流值 313.1亿 市盈 ⊙ 90.75 重多 盘后固定价格: 18.52 | 量: 36 | 额: 66672 | 盘后分时 | 分时 五日 日K 周K 均线▼ MA5:17.04↑10:16.65↑20:15.84↑ 20:15.84↑ ...

Core Viewpoint - The article discusses the significant capital increase and share expansion plan between Fulin Precision and CATL for Jiangxi Shenghua New Materials, indicating a strategic move to strengthen their position in the upstream materials industry [2][5]. Group 1: Capital Increase and Shareholding Structure - Fulin Precision plans to invest 1 billion RMB in Jiangxi Shenghua, acquiring an additional registered capital of 813 million RMB; CATL intends to invest 2.563 billion RMB for 2.084 billion RMB of new registered capital [6]. - Before the capital increase, Fulin Precision held a controlling stake of 79.57% in Jiangxi Shenghua, while CATL owned 18.74%. Post-investment, CATL will become the controlling shareholder with a 51% stake, and Fulin Precision's stake will reduce to 47.41% [9][10]. Group 2: Management and Operational Control - Following the capital increase, CATL will have significant management control over Jiangxi Shenghua, with a board of directors consisting of 7 members: 4 appointed by CATL and 3 by Fulin Precision. The chairman will also be appointed by CATL [12]. - Jiangxi Shenghua will establish a management structure led by a general manager and a financial director, with the financial director nominated by CATL [12]. Group 3: Industry Context and Financial Performance - Jiangxi Shenghua's revenue for 2022, 2023, and 2024 is projected to be 4.879 billion RMB, 2.808 billion RMB, and 4.829 billion RMB, respectively, with net profits of 288 million RMB, -1.053 billion RMB, and -283.61 million RMB [17]. - In the first half of 2025, Jiangxi Shenghua reported revenue of 3.958 billion RMB and a net profit of 63.78 million RMB, driven by increased sales volume and significant growth in lithium iron phosphate revenue [17]. - The lithium iron phosphate industry is undergoing a restructuring phase, with a shift towards high-density products, where Jiangxi Shenghua has a production capacity of 300,000 tons of high-pressure dense lithium iron phosphate, which is expected to enhance battery performance [18].

Core Viewpoint - The collaboration between Fulin Precision and CATL to increase capital in Jiangxi Shenghua is expected to constitute a significant asset restructuring, signaling a strategic move towards the upstream materials industry [2][5]. Group 1: Investment Details - Fulin Precision plans to invest 1 billion RMB in Jiangxi Shenghua, acquiring an additional registered capital of 813 million RMB; CATL intends to invest 2.563 billion RMB for a new registered capital of 2.084 billion RMB [5]. - Before the capital increase, Fulin Precision held a controlling stake of 79.57% in Jiangxi Shenghua, while CATL owned 18.74%. Post-investment, CATL will become the controlling shareholder with a 51% stake, and Fulin Precision's stake will reduce to 47.41% [7][10]. Group 2: Strategic Implications - The capital increase is expected to enhance the strategic partnership between Fulin Precision and CATL, accelerating Jiangxi Shenghua's development in high-quality lithium iron phosphate product R&D, international expansion, supply chain upgrades, and energy storage market growth [2][10]. - Jiangxi Shenghua aims to leverage the new capital to improve its profitability and competitive edge in the lithium battery materials sector [13]. Group 3: Market Context - The lithium iron phosphate industry is anticipated to enter a new growth phase, following a period of significant losses due to rapid capacity expansion and declining raw material prices [13]. - Jiangxi Shenghua's revenue figures for 2022, 2023, and 2024 are projected at 4.879 billion RMB, 2.808 billion RMB, and 4.829 billion RMB, respectively, with net profits of 288 million RMB, -1.053 billion RMB, and -28.36 million RMB [14]. - The company has a production capacity of 300,000 tons for high-density lithium iron phosphate, which is expected to enhance battery fast-charging performance and increase market share in the cathode materials sector [15].