Group 1 - The core point of the news is that Jiangte Electric has reported significant losses exceeding 10% of its net profit due to short-selling lithium carbonate futures, amounting to over 10 million RMB [2][6]. - Jiangte Electric engages in commodity futures and derivatives trading to mitigate operational risks from price fluctuations in raw materials and products, but has faced losses due to rising lithium carbonate prices [6][7]. - The company primarily focuses on the research, production, and sales of lithium salt products, relying on its own lithium mica mines to create an integrated industry chain from lithium ore to lithium salts [6][7]. Group 2 - In the first three quarters of the year, Jiangte Electric reported revenues of 1.432 billion RMB, a year-on-year increase of 14.62%, while its net profit attributable to shareholders was -113 million RMB, a year-on-year decrease of 37.31% [7]. - As of December 26, lithium prices have continued to rise, with the main contract on the Shanghai Futures Exchange surpassing 130,000 RMB per ton, reaching a new high since November 2023, with a year-to-date increase of 68.72% [7]. - The growth in lithium demand is primarily driven by the energy storage systems (ESS) and electric commercial vehicles (CV) sectors, which have exceeded market expectations [8].

大家好，关注一则上市公司做空 碳酸锂期货巨亏上千万的消息。 近日， 锂电板块知名公司 江特电机公告，经公司初步测算，公司商品期货和衍生品交易已确认损益及浮动亏损 金额已达到公司最近一年经审计的归属于上市公司股东净利润的10%且绝对金额超过一千万元人民币。 【导读】做空 碳酸锂期货 ，上市公司巨亏 中国基金报记者 泰勒 为何巨亏？公告提及，为规避产品价格波动给公司带来的经营风险，和减少因原材料价格波动造成的成本波动对 生产经营影响，公司及子公司根据生产经营计划，开展了商品期货和衍生品业务，以降低原料、产品等市场价格 波动对公司生产经营成本及主营产品价格的影响。但因近期碳酸锂期货价格持续上涨，导致公司期货账户出现亏 损。 财报显示，江特电机主要从事以碳酸锂为主的锂盐产品研发、生产和销售，依托自有锂云母矿山，构建了从锂矿 石到锂盐的"采选冶"一体化产业链。公司对外主要销售产品为电池级碳酸锂、工业级碳酸锂及其他共生矿产品。 今年前三季度，江特电机营业收入14.32亿元，同比增14.62%；归属于上市公司股东的净利润-1.13亿元，同比 降37.31%。 12月26日，锂价延续上行走势并迎来标志性突破。广期所碳酸锂主力 ...

Core Viewpoint - The announcement from Jiangte Electric indicates that the company's trading in commodity futures and derivatives has resulted in confirmed losses and unrealized losses amounting to 10% of the company's audited net profit attributable to shareholders over the past year, exceeding 10 million yuan [1] Group 1: Financial Impact - The confirmed losses and unrealized losses from commodity futures and derivatives trading have reached over 10 million yuan, which is 10% of the company's recent audited net profit [1] - The trading involves commodities such as lithium carbonate, soda ash, and copper [1] Group 2: Reasons for Losses - The primary reason for the losses is attributed to the company's strategy to mitigate operational risks from price fluctuations and reduce the impact of raw material price volatility on production costs [1] - The company and its subsidiaries engaged in commodity futures and derivatives trading based on their production and operational plans to lower the impact of market price fluctuations on production costs and main product pricing [1] - Recent continuous increases in lithium carbonate futures prices have led to losses in the company's futures accounts [1]

Core Viewpoint - Jiangte Electric (002176) has reported a significant floating loss exceeding 10% of its audited net profit from the previous year, amounting to over 10 million yuan, due to short-selling lithium carbonate futures amid rising prices in the commodity market [4][6]. Group 1: Financial Impact - The company's trading in commodity futures and derivatives has resulted in confirmed losses and floating losses that exceed 10% of its net profit, which is over 10 million yuan [4]. - Jiangte Electric's net profit has been in decline for two consecutive years, with reported losses of 396.91 million yuan in 2023 and 319.18 million yuan in 2024 [14]. - The company's revenue has also decreased significantly, from 2.8 billion yuan in 2023 to 2.1 billion yuan in 2024, representing a decline of 24.86% [14]. Group 2: Business Operations - Jiangte Electric engages in commodity futures and derivatives trading to mitigate operational risks associated with price fluctuations of raw materials and products [10]. - The company has been involved in trading lithium carbonate, soda ash, and copper, with the primary cause of losses attributed to the recent surge in lithium carbonate futures prices [6][10]. - The average price of battery-grade lithium carbonate rose from 92,400 yuan per ton a month ago to 116,300 yuan per ton recently, marking an increase of over 8% [10]. Group 3: Resource Management - Jiangte Electric holds multiple mining rights in the Yichun area, with proven lithium resource reserves exceeding 100 million tons [16]. - The company is currently contesting the potential cancellation of its mining rights for the Shiziling lithium ceramic stone mine and is preparing for the production of the Qian坑 lithium mine [17].

Market Overview - The motor sector increased by 0.2% compared to the previous trading day, with Shenli Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1] Stock Performance - Shenli Co., Ltd. (code: 6188309) closed at 12.43, with a rise of 5.70% and a trading volume of 183,200 shares, amounting to a transaction value of 223 million yuan [1] - Jiangte Motor (code: 002176) closed at 10.10, up 2.43%, with a trading volume of 1,035,800 shares and a transaction value of 1.041 billion yuan [1] - Other notable performers include Jiangsu Fuli (code: 300660) with a closing price of 53.14, up 1.98%, and a transaction value of 1.153 billion yuan [1] Fund Flow Analysis - The motor sector experienced a net outflow of 664 million yuan from main funds, while retail investors saw a net inflow of 594 million yuan [2] - The table indicates that major stocks like Jiadian Co., Ltd. (code: 000922) had a net inflow of 36.32 million yuan from main funds, despite a net outflow from retail investors [3] - Shenli Co., Ltd. (code: 603819) had a net inflow of 26.18 million yuan from main funds, but also faced significant outflows from retail investors [3]

江特电机表示，上述事项不会影响公司的日常经营活动，公司将根据《企业会计准则第24号-套期会计》对公司商品期货和衍生品业务进行账务处理，是 否对全年的利润产生影响以实际盈亏为准。 近期，碳酸锂期货持续大涨，价格从9月低位不足7万元/吨涨至目前超12万元/吨，各路资金蜂拥而至，将价格不断推高。12月24日收盘大涨5.89%，报 124720元/吨。虽然12月25日价格有所波动，但整体上涨趋势未改。 12月25日，江特电机（002176）发布关于开展商品期货和衍生品业务的进展公告。公司用于对冲现货风险的碳酸锂期货空单，因价格持续飙升，已确认及 浮亏金额超过1000万元。 据此前公告，公司2025年11月14日和12月1日分别召开了董事会会议和临时股东会，审议通过了《关于开展2026年度商品期货和衍生品业务及可行性分析 的议案》，同意公司及子公司开展商品期货和衍生品业务，交易品种为碳酸锂、纯碱和铜。 最新公告显示，近日，经公司初步测算，公司商品期货和衍生品交易已确认损益及浮动亏损金额已达到公司最近一年经审计的归属于上市公司股东净利润 的10%且绝对金额超过1000万元，具体以会计师事务所的审计结果为准。 亏损原因方面 ...

"做空"本是套期保值的常规动作，却在碳酸锂身上演成了"吞金兽"。今日，江特电机一纸公告震惊市 场：公司用于对冲现货风险的碳酸锂期货空单，因价格持续飙升，已确认及浮亏金额超过1000万元！ 在碳酸锂如此狂飙的行情之下，竟然还敢坚持做空，让我们一起来看看到底是怎么个事儿？ 01 资金狂潮下的价格狂飙 这种狂热背后，是供需格局的实质性收紧。据上海钢联数据，12月国内锂盐厂库存仅剩2.4万吨，社会 库存连续13周下降，累计去库2.2万吨，创期货上市以来新低。与此同时，储能领域需求爆发式增长： 2026年全球储能市场预计维持50%增速，国内12月"动力 + 储能 + 消费"电池排产量达220GWh，环比增 长5.3%，其中储能占比显著提升。供需错配下，碳酸锂价格开启"长周期紧平衡"通道。 12月24日晚间，广期所紧急调整交易规则，将碳酸锂期货LC2601-LC2605合约的最小开仓下单数量从1 手提升至5手，并对非期货公司会员的单日开仓量实施400手限额，试图为过热的市场降温。12月25日， 市场情绪出现分化，早盘，碳酸锂价格一度下探，但尾盘又再度上扬，显示出市场多空双方激烈博弈， 价格波动加剧。 风浪越大鱼越贵，波动 ...

江西特种电机股份有限公司 证券代码：002176 证券简称：江特电机 公告编号：2025-075 为规避产品价格波动给公司带来的经营风险，和减少因原材料价格波动造成 的成本波动对生产经营影响，公司及子公司根据生产经营计划，开展了商品期货 和衍生品业务，以降低原料、产品等市场价格波动对公司生产经营成本及主营产 品价格的影响。但因近期碳酸锂期货价格持续上涨，导致公司期货账户出现亏损。 三、对公司的影响 上述事项不会影响公司的日常经营活动，公司将根据《企业会计准则第 24 号-套期会计》对公司商品期货和衍生品业务进行账务处理，是否对全年的利润 产生影响以实际盈亏为准。 四、风险提示 关于开展商品期货和衍生品业务的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、情况概述 江西特种电机股份有限公司(以下简称"公司")于 2025 年 11 月 14 日和 2025 年 12 月 1 日分别召开了第十一届董事会第二次会议和 2025 年第三次临时股东会， 审议通过了《关于开展 2026 年度商品期货和衍生品业务及可行性分析的议案》， 同意公司及子公司开展商品 ...

Group 1 - Jiangte Electric's stock price increased by 0.72% to 9.80 CNY per share, with a trading volume of 679 million CNY and a turnover rate of 4.07%, resulting in a total market capitalization of 16.722 billion CNY [1] - The stock has risen for four consecutive days, with a cumulative increase of 6.29% during this period [1] - Jiangte Electric, established on May 11, 1995, and listed on October 12, 2007, primarily engages in lithium mica mining and lithium carbonate processing, as well as the research, production, and sales of special motors [1] Group 2 - Among Jiangte Electric's top ten circulating shareholders, Huaxia Fund's Huaxia CSI 1000 ETF (159845) reduced its holdings by 18,300 shares in Q3, now holding 9.273 million shares, which is 0.54% of the circulating shares [2] - The ETF has generated a floating profit of approximately 649,100 CNY today and 5.3783 million CNY during the four-day increase [2] - The Huaxia CSI 1000 ETF was established on March 18, 2021, with a current scale of 45.469 billion CNY and a year-to-date return of 25.59% [2] Group 3 - The fund manager of Huaxia CSI 1000 ETF is Zhao Zongting, who has been in the position for 8 years and 254 days, managing assets totaling 355.865 billion CNY [3] - During his tenure, the best fund return was 122.72%, while the worst was -32.63% [3] Group 4 - Huaxia Fund's Huaxia CSI Machine Tool ETF (159663) increased its holdings in Jiangte Electric by 127,500 shares in Q3, now holding 481,000 shares, which is 3.36% of the fund's net value [4] - The ETF has generated a floating profit of approximately 33,700 CNY today and 279,000 CNY during the four-day increase [4] - The Huaxia CSI Machine Tool ETF was established on October 12, 2022, with a current scale of 143 million CNY and a year-to-date return of 49.3% [4] Group 5 - The fund manager of Huaxia CSI Machine Tool ETF is Si Fan, who has been in the position for 4 years and 173 days, managing assets totaling 7.494 billion CNY [5] - During his tenure, the best fund return was 77.82%, while the worst was -35.4% [5]

（文章来源：证券日报） 证券日报网讯 12月23日，江特电机在互动平台回答投资者提问时表示，公司将依照信息披露的公平原 则和一贯性原则，在定期报告中披露对应期末时点的股东情况。 ...