在锂电池电解液体系中，LiFSI（双氟磺酰亚胺锂）长期被视作提升性能的 调味剂，但随着高镍 三元、快充电池与固态电池的产业化推进，头部电池厂的高端配方中添加比例已从5%升至 15%，部分半固态电池甚至以其为主盐，成为决定下一代电池性能的核心材料。 一、LiFSI 的优势与短板 ▶ 核心优势 效率与安全双高 25℃时离子电导率达 10.2 mS/cm，较传统 LiPF₆高出 15%，搭配高镍正极循环 1000 次后容量保持 率仍达 82.3%。分解温度超 200℃，是 LiPF₆的近 3 倍，85℃高温环境下铝集流体腐蚀风险降低 95%。 适配前沿电池技术 在 - 40℃低温下仍能稳定导电，完美解决北方新能源车续航衰减问题；与硅碳负极、4.4V 以上高 压正极兼容性优异，是 800V 高压平台车型的标配材料。 角色升级潜力大 作为主盐时可构建高浓度电解液，适配半固态电池界面调控需求，宁德时代麒麟电池已要求其添 加量不低于 20%。 ▶ 尚未突破的现实短板 成本居高不下 当前生产成本约 12-20 万元 / 吨，是 LiPF₆的 2-3 倍，虽较 2021 年的 80 万元 / 吨大幅下降，但仍 制约全面替代。 ...

Group 1: Product Development and Market Focus - LiFSI is used as an additive in lithium-ion battery electrolytes, enhancing conductivity and thermal stability; currently in technical modification and customer trial phases [2] - The company is focusing on the core business of the Sanqi industry chain and ecosystem, considering both internal investment and external mergers and acquisitions to enhance resource integration [3] - The Shandong Lingkai project is in the technical modification and customer trial stage, with no revenue generated yet [4] Group 2: Financial Performance and Strategic Adjustments - The company has experienced significant performance declines and losses due to price reductions after core product bidding, adjustments in customer procurement strategies, and a strategic contraction of the steel structure business [4] - The company is actively divesting non-core business investments, including transferring subsidiaries and shares in Shanghai Lingkai and Tibet Kangyu [4] - The company is evaluating potential acquisitions, such as Sichuan Meifeng, which has a strong balance sheet and a low debt ratio of around 20% [3] Group 3: Innovation and Product Diversification - The company is committed to enhancing the stability and safety of drug efficacy, with successful clinical trials for Sanqi Tongshu capsules in treating ischemic stroke [4] - The company aims to strengthen its market position in the bottled water sector, holding the top market share in Chengdu and second in Sichuan [4] - The company is exploring new product development and strategic partnerships to diversify its product offerings [4] Group 4: Investor Relations and Future Outlook - The company assures that it is not at risk of delisting and is operating normally [4] - The management emphasizes that recent divestitures were strategic decisions aimed at consolidating resources to enhance core competitiveness and long-term profitability [4] - The company is continuously monitoring market opportunities and will make investment decisions based on strategic alignment and risk assessment [3]