Investment Rating - The investment rating for the company is "Buy" and is maintained [4] Core Insights - The company's resilience in the nutrition sector is highlighted, with Q3 performance exceeding expectations. For the first three quarters of 2025, revenue reached 16.642 billion yuan, a year-on-year increase of 5.45%, while net profit attributable to shareholders was 5.321 billion yuan, up 33.37% year-on-year. However, Q3 revenue was 5.541 billion yuan, down 6.66% year-on-year and 2.11% quarter-on-quarter, with net profit at 1.717 billion yuan, down 3.80% year-on-year and 0.35% quarter-on-quarter [1][2] Summary by Sections Revenue and Profitability - In Q3 2025, the average prices for key products such as VA, VE, VC, and methionine were 63.3, 64.3, 19.2, and 22.3 yuan per kilogram, showing significant year-on-year declines of -67.4%, -48.7%, -27.5%, and an increase of +7.9% respectively. Despite the price drops, the company's gross margin was 44.86%, up 1.3 percentage points year-on-year, indicating strong profitability [2] Market Demand and Supply - The demand for methionine is expected to remain robust, with a projected global market growth of around 6% annually, translating to an increase of over 100,000 tons per year. The company plans to expand its solid methionine production capacity by 70,000 tons and has initiated trial production of an 180,000 tons/year liquid methionine project [3] Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders for 2025-2027 is 6.61 billion, 7.04 billion, and 8.10 billion yuan respectively, with corresponding EPS of 2.15, 2.29, and 2.64 yuan. The current price corresponds to P/E ratios of 10.86, 10.20, and 8.86 for the respective years [4]

10月27日，华盛锂电跌5.01%，截至发稿，报40.96元/股，成交1.62亿元，换手率3.19%，总市值65.33亿 元。 资料显示，江苏华盛锂电材料股份有限公司位于江苏扬子江国际化学工业园德盛路1号，成立日期1997 年8月4日，上市日期2022年7月13日，公司主营业务涉及专注于锂电池电解液添加剂的研发、生产和销 售。主营业务收入构成为：VC67.54%，FEC27.01%，其他5.44%。 崔古昕累计任职时间2年321天，现任基金资产总规模8.09亿元，任职期间最佳基金回报-21.96%， 任职 期间最差基金回报-38.97%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从基金十大重仓股角度 责任编辑：小浪快报 新华鑫动力灵活配置混合A（002083）成立日期2016年6月8日，最新规模4.94亿。今年以来收益 25.64%，同类排名3651/8226；近一年收益20.61%，同类排名4112/8099；成立以来收益91.94%。 新华鑫动力灵活配置混合A ...

锂电：展望电解液 6F、添加剂、溶剂后续提价 20251021 摘要 六氟磷酸锂价格自 9 月起因产能扩张停滞和供需趋紧而上涨，当前市场 均价约 7.4 万元/吨，周同比上涨 23%，散单价格逼近 8 万元/吨，预计 短期内将突破，中期或达 10 万元/吨。 头部企业如天赐材料、多氟多和天际股份控制产能扩张，以维持供需平 衡并提价，长单价格已从年初 5-6 万元区间上调至 6 万元以上，预计明 年需求增长超 20%，总需求达 36 万吨，有效产能偏紧，散单均价或达 8-10 万元，长单价有望达 7-8 万元。 电解液添加剂 VC、FEC 因高性能电池需求增加而前景良好，储能系统 对长寿命和动力电池快充技术的需求推动了其使用比例，并呈现涨价趋 势。 储能领域 VC 添加剂需求增长，比例从 2%提升至 3%-4%，高品质 VC 和 FEC 仍供不应求，9 月以来 VC 市场价格已上涨约 10%，若 11、12 月需求强劲，预计将继续上涨。 Q&A 电解液添加剂（如 VC、FEC）由于高性能电池对其需求比例提升而表现出良好 的增量前景。例如储能系统对长寿命要求增加，以及动力电池快充技术的发展， 都推动了这些添加剂使 ...

10月21日，华盛锂电跌5.08%，截至发稿，报45.61元/股，成交3.50亿元，换手率6.26%，总市值72.75亿 元。 资料显示，江苏华盛锂电材料股份有限公司位于江苏扬子江国际化学工业园德盛路1号，成立日期1997 年8月4日，上市日期2022年7月13日，公司主营业务涉及专注于锂电池电解液添加剂的研发、生产和销 售。主营业务收入构成为：VC67.54%，FEC27.01%，其他5.44%。 从华盛锂电十大流通股东角度 数据显示，新华基金旗下1只基金位居华盛锂电十大流通股东。新华鑫动力灵活配置混合A（002083） 二季度新进十大流通股东，持有股数72.43万股，占流通股的比例为1.16%。根据测算，今日浮亏损失约 176.74万元。 新华鑫动力灵活配置混合A（002083）成立日期2016年6月8日，最新规模4.94亿。今年以来收益 20.95%，同类排名3906/8162；近一年收益20.6%，同类排名3740/8024；成立以来收益84.77%。 新华鑫动力灵活配置混合A（002083）基金经理为蔡春红、崔古昕。 截至发稿，蔡春红累计任职时间10年95天，现任基金资产总规模11.77亿元，任职期 ...

Group 1 - The company, Yongtai Technology, has reported that its current production capacity for lithium hexafluorophosphate is 18,000 tons per year [1] - The company has a production capacity of 5,000 tons per year for VC (Vinyl Carbonate) [1] - The production capacity for FEC (Fluoroethylene Carbonate) is 3,000 tons per year [1]

Group 1 - The company has reported its current production capacities for lithium hexafluorophosphate, VC, and FEC, which are 18,000 tons/year, 5,000 tons/year, and 3,000 tons/year respectively [2] - The company advises that the current capacity utilization rate and specific production figures should be referenced from its periodic reports [2]

由起点固态电池、起点研究院SPIR 联合推出的2025中国固态电池行业金鼎 奖评选活动正在进行，经组委会确认， 华盛锂电 已报名2025中国固态电池行业 金鼎奖，参选项目为" 2025中国全固态电池材料技术创新奖 "。 1 参选企业介绍 固态电池行业金鼎奖 公司专注于锂离子电池电解液添加剂的研发、生产及销售。产品主要有电子化学品 及特殊有机硅两大系列，已高度覆盖中国国内市场，同时出口日本、韩国、美国、 欧洲、东南亚等国家和地区。截止 2024年底，申请国内外专利267件，已授权136 件，其中发明专利85件（含9件国际发明专利）。实用新型专利48件；外观设计专 利2件；软件著作权1件；主导制定VC国家标准和FEC行业标准。 江苏华盛锂电材料股份有限公司 ， 1997年成立于江苏省张家港市（总部），员工 总人数超1000人，占地面积近千亩。公司于2022年7月13日首次公开发行股票并 在"科创板"成功上市，（股票简称：华盛锂电，股票代码：688353），是一家国 家高新技术、专精特新小巨人企业。 公司多年来坚持自主创新，注重研发投入，设立总部研究院，面积达 1590㎡。其 中，综合实验室768㎡，分析检测中心5 ...

Core Insights - On October 13, Huasheng Lithium Electric's stock rose by 0.55%, with a trading volume of 409 million yuan [1] - The company experienced a net financing outflow of 14.67 million yuan on the same day, with total financing and securities lending balance reaching 150 million yuan [1] Financing Summary - On October 13, Huasheng Lithium Electric had a financing buy-in amount of 35.24 million yuan, with a current financing balance of 150 million yuan, accounting for 2.64% of its market capitalization [1] - The financing balance is above the 90th percentile level over the past year, indicating a high level of financing activity [1] Securities Lending Summary - On October 13, there were no shares repaid or sold in securities lending, with a total lending balance of 0 yuan, also above the 90th percentile level over the past year [1] Company Overview - Huasheng Lithium Electric, established on August 4, 1997, is located in Jiangsu and focuses on the research, production, and sales of lithium battery electrolyte additives [1] - The company's main business revenue composition is as follows: VC 67.54%, FEC 27.01%, and others 5.44% [1] Financial Performance - As of June 30, Huasheng Lithium Electric had 10,800 shareholders, an increase of 15.78% from the previous period, with an average of 5,776 circulating shares per person, a decrease of 13.63% [2] - For the first half of 2025, the company achieved a revenue of 350 million yuan, a year-on-year increase of 72.02%, while the net profit attributable to shareholders was -72.73 million yuan, a decrease of 0.30% year-on-year [2] Dividend Information - Since its A-share listing, Huasheng Lithium Electric has distributed a total of 157 million yuan in dividends [2] Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders, Xinhua Xin Power Flexible Allocation Mixed A (002083) is the seventh largest shareholder with 724,300 shares, while Huazheng Low Carbon Life Mixed A (006122) is the ninth largest with 573,100 shares, both being new shareholders [2]

Core Insights - On October 10, Huasheng Lithium Electric experienced a decline of 0.46% with a transaction volume of 429 million yuan [1] - The company reported a financing buy-in amount of 40.64 million yuan and a financing repayment of 48.48 million yuan, resulting in a net financing buy-in of -7.84 million yuan [1] - As of October 10, the total financing and securities lending balance for Huasheng Lithium Electric was 165 million yuan, which is 2.92% of its circulating market value [1] Financing Summary - On October 10, Huasheng Lithium Electric had a financing buy-in of 40.64 million yuan, with a current financing balance of 165 million yuan, exceeding the 90th percentile level over the past year [1] - The company had no securities lending transactions on October 10, with a securities lending balance of 0.00 shares, also exceeding the 90th percentile level over the past year [1] Business Performance - As of June 30, Huasheng Lithium Electric had 10,800 shareholders, an increase of 15.78% from the previous period, while the average circulating shares per person decreased by 13.63% to 5,776 shares [2] - For the first half of 2025, the company achieved an operating income of 350 million yuan, representing a year-on-year growth of 72.02%, but reported a net profit attributable to shareholders of -72.74 million yuan, a decrease of 0.30% year-on-year [2] - Since its A-share listing, Huasheng Lithium Electric has distributed a total of 157 million yuan in dividends [2] Shareholder Composition - As of June 30, 2025, among the top ten circulating shareholders of Huasheng Lithium Electric, Xinhua Xin Power Flexible Allocation Mixed A (002083) ranked as the seventh largest shareholder with 724,300 shares, being a new shareholder [2] - Huasheng Lithium Electric's ninth largest circulating shareholder, Huashan Low Carbon Life Mixed A (006122), holds 573,100 shares, also a new shareholder [2]

升， VC 价格持续坚挺， 12 月份预计市场需求量小幅下调， VC 价格在供需影响下或将小幅微降。 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： #鑫椤锂电 2025 年上半年添加剂 VC 价格一路下跌，最低价格跌至 4.4 万元 / 吨，业内厂家亏损严重，在资金压力下，小厂纷 纷停产，大厂因为有雄厚的资金支持以及规模效应带来的相对较低的成本优势，仍维持较高的开工率。 即便是大厂，长期亏损也难以维持长久的发展。 在整个行业都普遍亏损及国家倡导反内卷背景下，添加剂 VC 厂家意 识到唯有坚挺价格才能换来企业的可持续发展。 9 月份 VC 需求环比增长 6% ， 市场供应增幅小于需求增幅，在供需影响下， VC 价格开始上涨，再加上 亘 元、华盛、华一 、富祥药业等添加剂 VC 大厂 涨价意愿强烈， 多重因素推动 VC 价格坚挺。 在反内卷背景下， 目前各大企业统一对外报价 VC5.2 万元 / 吨， FEC4.2 万元 / 吨 ，添加剂产品结算方式统一调整 为： 月结 30 天，银行承总汇票结算 (6 个月以内 ) 。 从市场供需平衡角度来看： 市场现有 ...