近7天(2026年2月6日至12日)，中创新航股价区间涨跌幅达11.48%，其中2月6日单日涨幅5.57%，受交付 量高增消息推动；2月12日收盘价26.80港元，当日涨0.68%。资金面显示当日净流出，但板块整体受碳 酸锂价格站上15万元/吨等行业利好支撑。 经济观察网2026年2月6日，中创新航公告1月商用电池交付量同比增长630%，标志着公司市场战略与产 能布局进入收获期；同日，公司董事会批准实施H股全流通计划，拟将约11.69%的内资股转为H股，后 续需监管批准。这些事件直接提振市场信心，成为近期股价驱动因素。 股票近期走势 瑞银集团近期上调锂价预测，最高幅度74%，预计2030年全球锂需求翻倍，由电动车与储能双引擎驱 动；行业加速逼近成本、续航、充电时间的"三重平价"临界点，利好电池产业链长期价值重估。机构对 中创新航动储出货增长持乐观态度，但近期无新增研报。 以上内容基于公开资料整理，不构成投资建议。 机构观点 ...

Group 1: Production Data - In January 2026, the total production of power and energy storage batteries in China was 168.0 GWh, a month-on-month decrease of 16.7% but a year-on-year increase of 55.9% [1][6]. - The production of ternary batteries was 31.3 GWh, accounting for 18.6% of total production, with a month-on-month decrease of 23.1% and a year-on-year increase of 51.1% [13]. - The production of lithium iron phosphate batteries was 136.7 GWh, making up 81.3% of total production, with a month-on-month decrease of 14.8% and a year-on-year increase of 57.1% [13]. Group 2: Sales Data - In January 2026, the total sales of power and energy storage batteries in China reached 148.8 GWh, a month-on-month decrease of 25.4% but a year-on-year increase of 85.1% [2][14]. - Power battery sales were 102.7 GWh, accounting for 69.0% of total sales, with a month-on-month decrease of 28.6% and a year-on-year increase of 63.2% [2][18]. - Energy storage battery sales were 46.1 GWh, making up 31.0% of total sales, with a month-on-month decrease of 17.0% and a year-on-year increase of 164.0% [2][19]. Group 3: Export Data - In January 2026, the total export of power and energy storage batteries was 24.1 GWh, a month-on-month decrease of 26.0% but a year-on-year increase of 38.3%, accounting for 16.2% of total sales [2][22]. - Power battery exports were 17.7 GWh, representing 73.3% of total exports, with a month-on-month decrease of 7.1% and a year-on-year increase of 59.3% [2][24]. - Energy storage battery exports were 6.4 GWh, accounting for 26.7% of total exports, with a month-on-month decrease of 52.6% and a year-on-year increase of 1.4% [2][26]. Group 4: Installation Data - The domestic installation of power batteries in January 2026 was 42.0 GWh, a month-on-month decrease of 57.2% but a year-on-year increase of 8.4% [3][40]. - Ternary battery installations were 9.4 GWh, accounting for 22.3% of total installations, with a month-on-month decrease of 48.6% and a year-on-year increase of 9.6% [3][44]. - Lithium iron phosphate battery installations were 32.7 GWh, making up 77.7% of total installations, with a month-on-month decrease of 59.1% and a year-on-year increase of 8.1% [3][44]. Group 5: Key Material Demand - In January 2026, the demand for key materials for power and energy storage batteries included 63,000 tons of ternary materials and 342,000 tons of lithium iron phosphate materials [64][65]. - The demand for negative electrode materials was 235,000 tons, while the demand for separators was 3.36 billion square meters [64]. - The demand for electrolyte for ternary batteries was 28,000 tons, and for lithium iron phosphate batteries, it was 205,000 tons [64][65].

Core Insights - A new company named Zhongchuang Xinhang Technology (Zigong) Co., Ltd. has been established, focusing on the electric vehicle (EV) sector [1] - The registered capital of the new company is 1.5 billion yuan, indicating significant investment in the EV market [1] - The business scope includes manufacturing of auto parts, sales of complete electric vehicles, sales of battery swapping facilities, and sales of electric vehicle accessories [1] Company Overview - Zhongchuang Xinhang Technology is co-owned by Zhongchuang Xinhang (03931.HK) and other stakeholders, reflecting a collaborative approach in the EV industry [1] - The establishment of this company aligns with the growing trend towards electric mobility and the increasing demand for related infrastructure [1]

Core Viewpoint - Changji Guotou Xin Energy Development Co., Ltd. has announced a tender for four shared energy storage projects with a total scale of 800MW/3.2GWh, focusing on advanced battery technologies comparable to leading companies in the industry [2][3]. Group 1: Project Overview - The total scale of the energy storage projects is 800MW/3.2GWh, with specific projects including: - Changji Guotou Hutu Bih County: 200MW/800MWh - Changji Guotou Mulei County: 300MW/1200MWh - Changji Guotou Jimusaer County: 100MW/400MWh - Changji Guotou Qitai County: 200MW/800MWh [3][18][30]. - The tender includes a comprehensive range of equipment such as lithium iron phosphate battery storage, battery management systems (BMS), power conversion systems (PCS), energy management systems (EMS), and associated fire protection systems [3][18][30]. Group 2: Technical Requirements - The technical requirements for the battery cells are to be comparable to those of leading companies such as CATL, Hicharge Energy, Yiwei Lithium Energy, and others [2][9][21]. - The delivery period for the equipment is set to be completed within 90 calendar days from the issuance of the supply notice after the contract is signed [3][18][30]. Group 3: Tendering Process - The tender is open to independent legal entities registered in the People's Republic of China, with specific qualifications required for bidders, including experience in energy storage systems [7][20][30]. - A bid security of 500,000 yuan is required, and the tender documents can be downloaded from the Changji Public Resources Trading Network [23][31].

Group 1 - The core viewpoint of the article highlights the explosive growth of the large cylindrical battery and all-tab technology market, with a projected increase of over 15% in China's cylindrical battery shipments by 2025, and a growth rate exceeding 40% for large cylindrical batteries [3] - Major companies in the large cylindrical battery sector, such as EVE Energy, Molicel, and CATL, are expected to face supply shortages due to high demand, indicating a robust market outlook for 2026 [3] - The article emphasizes the rapid adoption of large cylindrical battery products in various applications, including lightweight power, electric two- and three-wheelers, portable storage, and automotive power [3][6] Group 2 - The event organized by Qidian Lithium Battery and Qidian Research Institute (SPIR) aims to discuss cutting-edge technologies, processes, and materials related to cylindrical batteries, showcasing the industry's competitive landscape through a comprehensive ranking of the top 20 companies [3][6] - The agenda includes discussions on high-power cylindrical battery technology, innovations in household and portable energy storage, and the development trends of automotive-grade large cylindrical batteries [7][8] - The forum will also feature roundtable discussions on overcoming market entry barriers and identifying emerging application markets for cylindrical batteries [7][8] Group 3 - The event is set to take place on April 10, 2026, at the Venus Royal Hotel in Bao'an, Shenzhen, with an expected attendance of over 600 participants [6] - Various companies from the cylindrical battery sector, including EVE Energy, CATL, and BYD, as well as downstream application enterprises and equipment manufacturers, are invited to participate [10] - Different registration options are available, including SVIP, VIP, and free attendance, with specific benefits associated with each tier [11][12][13]

文 | 中关村储能产业技术联盟 2月1 0日，昌吉国投鑫能源开发有限公司发布 四个共享储能项目储能系统设备采购招标， 总规模800MW/ 3 . 2GWh。 技 术 要 求 中 均 提 到 ， 项 目 电 芯 技 术 要 求 参 照 或 相 当 于 ： 宁 德 时 代 、 海 辰 储 能 、 亿 纬 锂 能、中创新航、比亚迪、瑞浦兰钧、国轩高科、远景动力、鹏辉能源、欣旺达 。 | 项目名称 | 招标规模 | 招标规模 | | --- | --- | --- | | | MW | MWh | | 昌吉国投呼图壁县20万千瓦80万千瓦时共享 | | | | 储能项目 | | | | 昌吉国投木垒县30万千瓦120万千瓦时共享 | 300 | 1200 | | 储能项目 | | | | 昌吉国投吉木萨尔县潘家台10万干瓦40万千 | 100 | 400 | | 瓦时共享储能项目 | | | | 昌吉国投奇台县20万千瓦80万千瓦时共享储 | 200 | 800 | | 能项目 | | | 招 标 范 围 ： 包 括 储 能 电 池 舱 （ 磷 酸 铁 锂 电 池 ） 、 电 池 管 理 系 统 （ BMS ） 、 ...

Core Viewpoint - The Chinese energy storage lithium battery market is expected to experience significant growth in 2025, with a shipment volume of 630 GWh, representing an 85% year-on-year increase, and maintaining over 90% of the global market share [1][4]. Group 1: Market Growth Drivers - The growth is driven by three main factors: the gradual exit of mandatory storage policies and the acceleration of independent storage projects in the domestic market, transitioning the industry from "passive configuration" to "active investment" [4]. - The overseas market is boosted by the U.S. installation surge, demand release in emerging markets, and the end of inventory depletion in overseas household storage, leading to strong order growth [4]. - New application scenarios, such as data centers, are contributing to the continuous increase in demand for energy storage cells [4]. Group 2: Competitive Landscape - The top 10 companies in China's energy storage lithium battery shipments for 2025 include CATL, BYD, Hicharge, EVE Energy, and others, which also rank among the top globally [1][2]. - The competition in the household storage lithium battery market in 2025 will focus on specialized production capacity and large-scale delivery capabilities, solidifying the market share and industry position of leading companies [5]. Group 3: Future Trends - In 2026, the household storage lithium battery market is expected to see a relaxation of capacity constraints, with the establishment of a dual mainline product matrix as 100Ah and 314Ah cells become standard options [4][5]. - The global supply chain layout is accelerating, with localized production becoming a key strategy to address trade barriers and raw material sourcing requirements in overseas markets [5]. - The penetration rate of large capacity cells (500+ Ah) is projected to exceed 20% in 2026, with most manufacturers expected to achieve mass production by the second half of the year [9]. Group 4: Market Projections - The energy storage battery market is anticipated to maintain a high growth trend into 2026, with an expected shipment of over 850 GWh, although capacity pressure will remain significant in the first half of the year [8][11]. - The price of energy storage cells is projected to increase by approximately 3-6 cents per Wh due to rising costs of key raw materials, which will be passed down to downstream procurement costs [12].

Core Insights - The global lithium-ion energy storage battery shipment reached 550 GWh in 2025, marking a 79% year-on-year increase, indicating rapid expansion in the energy storage industry [1][6][11] Group 1: Market Overview - China, North America, and Europe remain the primary target markets, with China accounting for 352 GWh (64% of global shipments) and a growth rate of 117%, highlighting its role as the core driver of global energy storage supply growth [1][6][11] - North America and Europe are experiencing growth, but their global market share is declining due to faster growth in China and emerging markets, which saw a growth rate of 108% [1][6][11] Group 2: Regional Dynamics - The slowdown in North America's growth rate and its declining global share is linked to U.S. policies, particularly high tariffs on Chinese products, which have impacted the supply of lithium iron phosphate batteries [7][10] Group 3: Company Rankings - The top nine companies in lithium-ion energy storage battery shipments are dominated by Chinese firms, with CATL leading at 167 GWh, holding a 30% market share, while the last two Korean companies account for only 4% [4][9][11] - The dominance of Chinese companies is attributed to the suitability of lithium iron phosphate batteries for energy storage needs, emphasizing safety and cost over energy density [4][9][10] Group 4: Future Outlook - Korean companies are adapting by modifying existing U.S. production lines and focusing on lithium iron phosphate technology to regain market share in North America, with expectations of a gradual recovery in their market presence [10]

Group 1: Market Overview - The Hong Kong stock market experienced a collective decline on February 6, with the Hang Seng Index falling by 1.21% to 26,559.95 points, and the Hang Seng Technology Index decreasing by 1.11% to 5,346.20 points [1][2] - The total market turnover for the day was HKD 247.9 billion, with net inflows from southbound funds amounting to HKD 14.859 billion, and a cumulative net purchase of HKD 56.069 billion for the week [1] Group 2: Company Performance - The stock of 澜起科技 (Lianqi Technology) surged by 39.21% in dark trading, reaching HKD 148.9 per share ahead of its listing on the Hong Kong stock market on February 9 [9][13] - 澜起科技 is a leading international company in data processing and interconnect chip design, focusing on high-performance, low-power chip solutions for cloud computing and data centers [13] Group 3: Sector Movements - The beverage sector saw gains, with 茶百道 (Cha Bai Dao) rising by 6.08%, 古茗 (Gu Ming) increasing by 3.58%, and 沪上阿姨 (Hu Shang A Yi) up by 1.15%, driven by a promotional campaign from Alibaba's 千问App [3] - The lithium battery sector also performed well, with 彩客新能源 (Cai Ke New Energy) increasing by 6.59% and 中创新航 (Zhong Chuang Xin Hang) rising by 5.57%, attributed to strong demand in the new materials sector [5][7] - In the automotive sector, 蔚来 (NIO) saw a rise of 6.95%, with other companies like 零跑汽车 (Leap Motor) and 理想汽车 (Li Auto) also experiencing gains [8] Group 4: Analyst Insights - UBS has indicated that the Asian market is expected to enter a "super cycle," driven by multiple factors that could lead to long-term growth and profitability, particularly in the technology sector [14]

Group 1 - Lee & Man Paper (02314) has seen its stock price rise by over 30% year-to-date, with expected profits of approximately HKD 1.88 billion to HKD 2.00 billion in 2025, representing a year-on-year growth of 38% to 47% due to increased marginal profits [1] - Soundon Technology (02495) shares rose over 8.8% after winning a contract worth nearly RMB 300 million for an AI project in Sichuan province [1] - Zhongxin Innovation (03931) stock increased by over 3.8%, with a reported 630% year-on-year growth in commercial battery deliveries in January 2026, indicating a strong market strategy and capacity layout [1] Group 2 - Tea stocks experienced a rise, with Gu Ming (01364) up 4.12%, Cha Bai Dao (02555) up 3.74%, and others benefiting from a promotional campaign offering free milk tea at over 300,000 stores nationwide [2] - Innovent Biologics (09969) shares surged over 11% after announcing expected revenues of RMB 2.37 billion in 2025, a 134% increase, and a projected net profit of around RMB 630 million [2] - Jun Da Holdings (02865) rebounded over 4.6% following news of the U.S. Federal Communications Commission accepting SpaceX's data center application [2] Group 3 - Li Auto-W (02015) shares rose over 5.3% as the CEO teased the new Li L9 model, emphasizing the importance of AI in enhancing vehicle value [3] - JX International Resources (03858) saw a stock increase of over 4.6% as tungsten prices reached a recent high of CNY 1,545,000 per ton, up CNY 25,000 from the previous trading day [3] - Nine Dragons Paper (02689) shares increased by over 5.7% after announcing a profit forecast for FY26H1 of CNY 2.15 billion to CNY 2.25 billion, a year-on-year growth of 216% to 231% [3] Group 4 - Long Resources (01712) stock surged over 35%, reaching a historical high, with expected after-tax profits of AUD 58 million to AUD 62 million for the year ending December 31, 2025, a significant increase from AUD 12.9 million in the previous year [4] Group 5 - Forgent Power Solutions (FPS.US) debuted on the U.S. stock market with a closing increase of 7.41%, focusing on power solutions for data centers [5] - Bob's Discount Furniture (BOBS.US) also entered the market, with a slight increase of 0.12%, managing 206 showrooms across 26 states and projecting revenues of USD 2.32 billion for FY2025 [5] Group 6 - Eikon Therapeutics (EIKN.US) fell over 16.67% on its Nasdaq debut, focusing on cancer therapies with a candidate drug in mid-stage trials [6] - Cryptocurrency stocks saw significant declines, with Hut 8 (HUT.US) down 17.89% and others following suit amid a Bitcoin sell-off, which dropped nearly 10% [6] Group 7 - Major U.S. indices opened lower, with the Nasdaq down 1.6%, and notable tech stocks like Amazon (AMZN.US) and Tesla (TSLA.US) also declining [7] - Estée Lauder (EL.US) dropped nearly 19.19% despite meeting sales expectations, reflecting market volatility [7] Group 8 - NIO (NIO.US) shares rose 5.86% after announcing an expected adjusted operating profit of between RMB 700 million and RMB 1.2 billion for Q4 2025, marking its first quarterly adjusted operating profit [8] - Hims & Hers Health (HIMS.US) initially surged nearly 14% before closing down 3.77%, launching a new generic medication at a competitive price [9] - Qualcomm (QCOM.US) fell 8.46% amid concerns over weak earnings forecasts related to chip shortages affecting smartphone demand [9]