行业周报 | 电力设备 三大运营商加码 AI 投资，全球最大半固态电池储能订单落地 证券研究报告 2025 年 08 月 17 日 电新行业行业周报 20250811-20250817 核心结论 特朗普政府要求英伟达 H20 芯片出口至中国 15%收入上交，中国三大运营商全面加码 AI 投资。三 大运营商（中国电信、中国移动、中国联通）集体发布 2025 年上半年业绩报告，联通预计全年资 本开支在 550 亿元左右，重点投向算力领域。数据显示 AI 相关业务已成为战略重点，下半年将继续 加大投资力度。为 AI 数据发展提供了更扎实的基础设施支持。AI 数据中心推荐麦格米特，建议关 注欧陆通、金盘科技、联德股份、爱科赛博、中恒电气、科华数据、盛弘股份。 宁德时代江西锂矿确定停产，南都电源签订全球最大半固态电池储能订单。宁德时代表示宜春项目 采矿许可证 8 月 9 日到期后已暂停开采作业。南都电源宣布签署总容量 2.8GWh 的独立储能项目订 单，该项目是目前全球最大规模的半固态电池储能应用。电动车板块推荐豪鹏科技、特锐德、欣旺 达、尚太科技，建议关注科达制造、安孚科技、紫建电子、德方纳米、万润新能、富临精工。P ...

Core Viewpoint - Nandu Power has signed an independent energy storage project order with a total capacity of 2.8GWh, marking the largest semi-solid battery energy storage project globally, which signifies a key leap in the commercialization of solid-state battery technology [1][8]. Group 1: Project Details - The order consists of three independent energy storage projects with a total capacity of 2.8GWh, including a 1.2GWh project in Shenzhen and two 800MWh projects in Shanwei [1]. - Upon completion, the projects are expected to consume over 1 billion kilowatt-hours of renewable energy annually, significantly enhancing the regional grid's capacity to accept renewable energy and alleviating power supply and demand conflicts in the Guangdong-Hong Kong-Macao Greater Bay Area [1]. Group 2: Technological Innovations - The core technology supporting this super energy storage project is Nandu Power's self-developed 314Ah semi-solid battery, which utilizes "oxide solid-liquid mixed technology" and "high melting point polymer separator" to achieve significant improvements in safety and performance [3][6]. - The 314Ah semi-solid battery effectively suppresses lithium dendrite growth and reduces thermal runaway risks while maintaining ionic conductivity, providing dual guarantees for battery longevity and safety [6] [10]. Group 3: Industry Impact - This project represents the first commercial application of solid-state battery technology in a gigawatt-hour level energy storage project globally, reflecting high industry recognition of Nandu's solid-state technology and engineering capabilities [8][10]. - The large-scale commercialization of solid-state batteries is expected to drive the maturity and cost reduction of the solid-state battery industry chain, injecting strong momentum into technological upgrades within the industry [10]. Group 4: Future Developments - Nandu Power has been conducting forward-looking research since 2017 and is one of the earliest companies in China to focus on solid-state battery development, adhering to a "develop one generation, reserve one generation" strategy [10]. - By the end of 2024, Nandu Power plans to complete a key research project in Zhejiang Province, successfully developing a 30Ah all-solid-state battery that addresses the "solid-solid interface" challenge, enhancing the cycle life and rate performance of all-solid-state batteries [12]. - In April 2025, Nandu Power will launch a 783Ah ultra-large capacity solid-state battery, achieving breakthroughs in energy density and safety performance through innovative technologies [14].

Core Viewpoint - The energy storage market is experiencing a surge in demand, with significant growth in lithium batteries, semi-solid batteries, and sodium batteries, driven by expanding overseas markets and increasing domestic production capacity [2][12]. Group 1: Energy Storage Market Dynamics - Energy storage battery exports are expected to soar over 100% in the first half of 2025, equating to daily shipments covering the area of 17 standard swimming pools [2]. - Major overseas markets, such as South America and the Middle East, are emerging, with 90% of energy storage batteries being shipped domestically [2]. - The industry is moving towards greater concentration, with unit gross profits expected to rise, and large-scale energy storage cells potentially approaching the profit levels of power batteries [2]. Group 2: Recent Project Developments - Nandu Power signed a 2.8GWh semi-solid battery storage project, the largest of its kind globally, with a focus on three sub-projects in Shenzhen and Shanwei [5]. - Zhongqi New Energy and IndiGrid signed a memorandum for a 5GWh cooperation on energy storage systems, marking a significant order in India [6]. - Sunshine Power secured a 1GWh storage order in Bulgaria, collaborating with Sunterra RE for major photovoltaic projects [8]. - Cairi Energy won a 430+MWh storage order in Bulgaria, focusing on lifecycle solutions and technology improvements [10]. - Hunan Energy signed a 500MW/2000MWh grid-side energy storage project in Inner Mongolia, with a total investment of 2.2 billion yuan [11]. Group 3: Global Expansion and Challenges - The energy storage market is witnessing growth across Europe, North America, and emerging markets in Asia, Africa, and Latin America, with new projects boosting battery installation data [13]. - Countries with energy transition intentions, such as Saudi Arabia and the UAE, are actively attracting energy storage projects, while Australia is investing heavily in renewable energy [13]. - Chinese energy storage companies are exploring new routes for expansion, including establishing local factories in Southeast Asia to mitigate tariff impacts [13]. - The competitive landscape is shifting from domestic to global, with potential for Chinese companies to establish a presence in various regions [14]. Group 4: Integration with Renewable Energy - Energy storage projects are increasingly integrating with photovoltaic and ultra-fast charging technologies, leading to the emergence of comprehensive energy solutions [15].

碳酸锂期货日报 行业 日期 2025 年 8 月 12 日 研究员：张平 021-60635734 zhangping@ccb.ccbfutures.com 期货从业资格号：F3015713 021-60635729 yufeifei@ccb.ccbfutures.com 期货从业资格号：F3025190 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 有色金属研究团队 研究员：余菲菲 研究员：彭婧霖 请阅读正文后的声明 ＃summary＃ 每日报告 一、 行情回顾与操作建议 数据来源：Wind，建信期货研究发展部 碳酸锂期货涨停，宁德时代枧下窝矿确认停产，市场做多情绪高涨，现货市场跟 涨，电碳涨 2600 至 74500，上游出货情绪上涨而下游购货情绪下跌，澳矿涨 90 至 875 美元/吨，云母矿涨 75 至 1875 元/吨，外购辉石盐厂亏 145，外购云母盐 厂亏 7642，不过盘面提供丰厚的套保空间，短期在碳酸锂涨价背景下，盐厂开工 积极性预计将持续高涨，枧下窝矿停产对碳酸锂产量影响预计有限，短期价格上 行更多受情绪面影响。 ...

年会预告 2025（第十五届）高工锂电年会 暨十五周年庆典&高工金球奖颁奖典礼 主办单位： 高工锂电、高工产研（GGII） 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 欣旺达、英联复合集流体、逸飞激光、华视集团、欧科工业空调 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 南都电源签署全球最大的半固态电池储能项目 日前， 南都电源成功签署总容量高达 2.8GWh 的独立储能项目订单，项目将全部采用南都自主研 发的 314Ah 半固态储能电池。 这是目前全球最大的半固态电池储能项目，实现了固态储能电池 技术商业化应用的关键跨越。 本次斩获的订单由三个独立储能项目构成，总容量为 2.8GWh 。其中，深圳地区的项目规模为 1.2GWh ；汕尾地区则布局两个项目，容量均为 800MWh 。 项目建成后，预计每年消纳新能源电量超 10 亿千瓦时，将极大提升区域电网接纳可再生能源的能 力。 电池级碳酸锂价格涨2560元 动力锂电池运输迎来新国标 据央视新闻报道，《动力锂电池 ...

Core Viewpoint - Nandu Power has secured a significant order for 2.8GWh of semi-solid state battery energy storage projects, marking a milestone in the commercialization of solid-state battery technology on a gigawatt scale [3][4]. Group 1: Project Details - The order consists of three independent energy storage projects located in Shenzhen (1.2GWh) and Shanwei (two projects of 800MWh each) [3]. - Upon completion, these projects are expected to consume over 1 billion kWh of renewable energy annually and reduce carbon dioxide emissions by approximately 1 million tons each year [3]. Group 2: Technology Innovations - Nandu Power's 314Ah semi-solid state battery utilizes "oxide solid-liquid hybrid technology" and "high melting point polymer separator" to significantly suppress lithium dendrite growth, reducing thermal runaway risks while ensuring high ionic conductivity and battery longevity [6]. - This is the first commercial application of solid-state battery technology in gigawatt-level energy storage projects globally [4]. Group 3: Industry Landscape - The semi-solid state battery technology is gaining traction, with over 6.2GWh of semi-solid state battery projects announced this year alone [14]. - Various companies are exploring different solid-state battery technologies, including polymer, oxide, sulfide, and halide types, with notable players in each category [9][10]. Group 4: Market Dynamics - The current price range for semi-solid state batteries is approximately 0.8-1.2 yuan/Wh, with system prices around 1-1.5 yuan/Wh, indicating a narrowing cost gap with liquid lithium iron phosphate batteries [15][16]. - As the cost differences decrease, semi-solid state batteries may emerge as a new favorite in the energy storage market [16].

日前， 南都电源成功签署总容量高达2.8GWh的独立储能项目订单，项目将全部采用南都自主研发的 314Ah半固态储能电池。 这是迄今为止全球最大的 半固态电池 储能项目，实现了固态储能电池技术商业 化应用的关键跨越。 本次斩获的订单由三个独立储能项目构成，总容量为2.8GWh。 其中，深圳地区的项目规模为1.2GWh； 汕尾地区则布局两个项目，容量均为800MWh。 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~ 本文来源 ：南都电源 该项目是公司"储能技术+场景"的重大突破。深圳作为超大型城市，对储能系统的安全性、循环寿命要求 极高；汕尾则依托海上风电资源，需要储能支撑电网稳定。南都半固态电池储能系统，恰好能满足这两类 应用场景的核心需求。 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~ END 项目建成后，预计每年消纳新能源电量超10亿千瓦时，将极大提升区域电网接纳可再生能源的能力，有效 缓解粤港澳大湾区电力供需矛盾，同时每年减少二氧化碳排放约100万吨。 ...

北京商报讯（记者 马换换 王蔓蕾）8月11日，据南都电源（300068）消息，日前，南都电源成功签署总 容量高达2.8GWh的独立储能项目订单，项目将全部采用南都自主研发的314Ah半固态储能电池。 南都电源表示，本次斩获的订单由三个独立储能项目构成，总容量为2.8GWh。其中，深圳地区的项目 规模为1.2GWh；汕尾地区则布局两个项目，容量均为800MWh。 ...

文 | 南都电源 日前， 南都电源成功签署总容量高达2.8GWh的独立储能项目订单，项目将全部采用南 都自主研发的3 1 4Ah半固态储能电池。 这是迄今为止全球最大的半固态电池储能项目， 实现了固态储能电池技术商业化应用的关键跨越。 三大项目落子湾区 独立储能支撑电网韧性 本次斩获的订单由三个独立储能项目构成，总容量为2 . 8GWh。其中，深圳地区的项目规 模为1.2GWh；汕尾地区则布局两个项目，容量均为800MWh。 项目建成后，预计每年消纳新能源电量超10亿千瓦时，将极大提升区域电网接纳可再生能 源 的 能 力 ， 有 效 缓 解 粤 港 澳 大 湾 区 电 力 供 需 矛 盾 ， 同 时 每 年 减 少 二 氧 化 碳 排 放 约 100 万 吨。 该 项 目 是 公 司 " 储 能 技 术 + 场 景 " 的 重 大 突 破 。 深 圳 作 为 超 大 型 城 市 ， 对 储 能 系 统 的 安 全 性、循环寿命要求极高；汕尾则依托海上风电资源，需要储能支撑电网稳定。南都半固态 电池储能系统，恰好能满足这两类应用场景的核心需求。 半固态电池破解安全与成本难题 支撑这一超级储能项目的技术核心，是南 ...

人民财讯8月11日电，据南都电源（300068）消息，日前，南都电源成功签署总容量高达2.8GWh的独立 储能项目订单，项目将全部采用南都自主研发的314Ah半固态储能电池。这是迄今为止全球最大的半固 态电池储能项目。本次斩获的订单由三个独立储能项目构成，总容量为2.8GWh。其中，深圳地区的项 目规模为1.2GWh；汕尾地区则布局两个项目，容量均为800MWh。 ...