证券代码：300014 证券简称：亿纬锂能 公告编号：2026-013 惠州亿纬锂能股份有限公司 关于调整商品套期保值业务额度的公告 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。 2025年10月27日，惠州亿纬锂能股份有限公司（以下简称"公司"）召开第七届 董事会第一次会议，审议通过了《关于调整商品套期保值业务额度的议案》，同意公 司将开展商品套期保值业务最高保证金额度和权利金上限不超过人民币3.5亿元或等 值其他外币金额调整为不超过人民币10亿元或等值其他外币金额；预计任一交易日持 有的最高合约价值不超人民币35亿元或等值其他外币金额调整为不超人民币85亿元或 等值其他外币金额。商品期货套期保值品种限于与公司及子公司的生产经营需的铜、 锂等原材料相关的期货品种。授权期限自董事会审议通过之日（2025年10月27日）起 至2026年6月15日有效。额度在审批有效期内可循环滚动使用。具体内容详见公司在巨 潮资讯网上披露的《关于调整商品套期保值业务额度的公告》（公告编号：2025-137）。 2026年2月27日，公司召开第七届董事会第五次会议，审议通过了《关于 ...

作为亿纬锂能布局东南亚的核心载体，马来西亚基地一、二期项目持续稳步推进，离不开马来西亚 各级政府部门的长期支持与指导。据了解，该基地二期属于新型储能电池项目的重要组成部分，连同三 期项目规划总投资不超过86.54亿元，合计年产能达48GWh，其中部分产能已于2026年初实现量产，资 金来源涵盖自有资金、募集资金及自筹资金。基地一期已实现电动工具、电动两轮车用圆柱电池量产， 年产能达6.8亿只，而二期的投产将进一步拓展储能电池等产品产能，强化其在东南亚的供应链枢纽地 位。 近日，亿纬锂能马来西亚基地二期厂房落成剪彩仪式在吉打州·马来西亚隆重举行，标志着该基地 正式迈入规模化生产与精细化运营的新阶段，也为亿纬锂能深化东南亚布局、完善全球制造体系奠定坚 实基础。亿纬锂能联合创始人、总裁刘建华出席仪式并主持活动，马来西亚吉打州工业与投资事务行政 议员海因·希尔曼教授、马来西亚投资发展局（MIDA）副首席执行官祖艾达女士应邀莅临，与15位来自 各关键政府部门的代表共同见证这一重要里程碑。亿纬锂能副总裁、亿纬马来西亚董事总经理何盈深携 管理团队及合作伙伴代表出席仪式。 面向未来，亿纬锂能将以马来西亚基地为依托，持续深化本 ...

Group 1: China Ping An - The core strategy of China Ping An is "comprehensive finance + medical care and elderly care," which aims to create a new value growth pole through a "product + service" model, leading to long-term stable profit growth [3][4] - The report suggests that the current market valuation of China Ping An is low, with a PEV of 0.75, and recommends a target market value of 1.6 trillion yuan, corresponding to a target price of 88.53 yuan per share [3][4] - The aging population in China and the increasing importance of commercial health insurance in medical payments are expected to enhance the effectiveness of the "product + service" model, positioning it as a new growth driver for the company [3][4] Group 2: Steel Research High Temperature Alloy - Steel Research High Temperature Alloy is a leading company in the high-temperature alloy sector, benefiting from strong demand in the aerospace industry and the trend towards technological self-sufficiency [5][6] - The company is expected to achieve steady growth in net profit, with forecasts of 132 million yuan, 152 million yuan, and 172 million yuan for 2025 to 2027, respectively [5][6] - The report highlights the resilience of the high-temperature alloy industry, driven by increasing defense budgets and the upgrade of aerospace equipment, which supports long-term demand [6][7] Group 3: CSPC Pharmaceutical Group - CSPC Pharmaceutical Group is recognized for its strong innovation capabilities, with a focus on oncology and chronic disease treatment pipelines, and has established an international business development ecosystem [8][9] - The company has entered a strategic collaboration with AstraZeneca to develop innovative long-acting peptide drugs, which is expected to generate significant revenue potential [9][10] - The report predicts EPS growth of 48%, 36%, and -7% for 2025 to 2027, with a target price of 16.58 HKD per share [8][9] Group 4: Real Estate Market - The real estate market in China is currently in a deep adjustment phase, with only 19% of cities showing signs of bottoming out as of Q4 2025 [18][19] - New home prices are experiencing significant fluctuations, particularly in first-tier cities, while second-hand home prices are generally declining [19][20] - The report indicates that the inventory clearance cycle is extending, with first-tier cities reaching 19-28 months and some second-tier cities exceeding 38 months [20] Group 5: Robotics and Automation - The company is actively expanding into the humanoid robotics sector, with new product launches expected to drive growth [21][22] - The report forecasts EPS of 1.14, 1.47, and 1.83 yuan for 2025 to 2027, with a target price of 147.00 yuan per share [21][22] - The company is leveraging its expertise in micro-drive systems to enhance its competitive position in the robotics market [22][23] Group 6: Energy Storage Sector - The energy storage sector is anticipated to see significant growth, with the introduction of capacity pricing mechanisms in provinces like Qinghai [36][37] - The report suggests that the demand for energy storage systems and batteries will increase, recommending several key stocks in this sector [36][37] - The expected growth rate for energy storage demand in 2026 is projected to be around 50% [38]

Investment Rating - The report recommends an "Accumulate" rating for the energy storage sector [1][3]. Core Insights - Qinghai has initiated the first capacity price for energy storage following the implementation of Document No. 114, indicating a positive trend for the economic viability of energy storage across the country as provincial regulations are expected to follow [3][6]. - The demand for energy storage is projected to grow significantly, with expectations of a 50% increase in 2026, driven by favorable capacity pricing and strong market conditions [3][6]. Summary by Sections Investment Recommendations - The report suggests accumulating stocks in the energy storage sector, particularly benefiting from strong demand for storage systems and batteries. Recommended stocks include Haibo Shichuang, Ningde Times, Yiwei Lithium Energy, Zhongchuang Innovation, and Aters. Related stocks include Sunshine Power and Penghui Energy [6][7]. - Following the anticipated demand surge, lithium battery materials are expected to see price increases. Recommended stocks in this category include Hunan Youneng, with related stocks being Wanrun New Energy, Fulian Precision, Tianji Shares, Tianci Materials, Duofluo, Enjie, Fospower, and Xingyuan Materials [6][7]. Economic Viability of Energy Storage - The capacity price calculation method has been established, with a compensation standard of 165 RMB/(kW·year) for 2026, which is more favorable compared to previous standards. The annual compensation price for a 4-hour energy storage station is calculated to be 153.77 RMB/(kW·year) [6][7]. - January data shows a significant increase in installed capacity, with 3.8 GW/10.9 GWh added, representing a year-on-year growth of 62% and 106%, respectively. The sales of energy storage batteries reached 46.1 GWh, marking a year-on-year increase of 164% [6][7].

据悉，亿纬锂能储能研究院（武汉）电力电子实验室集办公、研发、测试与样机试制功能于一体， 覆盖多功率等级，可实现从单板到系统、从硬件到软件、从仿真到实物的全流程闭环研发验证，为构网 型储能技术的工程化落地提供可迭代、可复现的支撑体系。 揭牌活动现场，亿纬锂能同步推进产业链技术协同，分别与深圳麦格米特电气股份有限公司、宁波 奥克斯智能科技股份有限公司签署技术合作协议。麦米电气董事长童永胜、奥克斯智能科技配电执行总 裁吴小莉出席活动并致辞。本次合作聚焦电力电子技术联合开发、系统集成方案协同、测试资源共享等 核心方向，旨在通过技术深度协同，提升产品性能与系统匹配效率。 此次合作与实验室揭牌，标志着亿纬锂能正加速向技术平台型企业演进，通过联动产业链优势资 源、构建协同创新生态，为储能系统集成能力的持续迭代提供有力支撑。面向储能产业从规模化扩张向 系统效率竞争演进的发展周期，亿纬锂能将依托全链路自研能力，持续推动储能系统构网能力、经济性 与工程交付水平的协同提升。 近日，亿纬锂能储能研究院（武汉）电力电子实验室正式揭牌启用。这一举措标志着亿纬锂能已全 面完成从电芯到系统、从直流到交流的储能全链路核心技术布局，其自主研发能 ...

消息面上，津巴布韦收紧锂精矿出口，碳酸锂期货今早一度涨超11%，最高见187700元/吨。中信证券认为，该国的锂矿出口禁令将导致中国碳酸锂 短期供应愈发紧缺，有望推动锂价大幅上涨。（来源于中信证券20260226《津巴布韦暂停锂矿出口，板块有望大涨》） 此外，我国锂电池核心技术获首创性突破，续航有望成倍提升。近日，由南开大学和上海空间电源研究所等单位科研人员组成的团队，取得了一项 首创性的突破。通过全新的电解液技术，有望使现有锂电池在同等大小和重量的情况下，实现续航力的成倍提升，耐低温性能也明显增强。这一成 果26号凌晨在国际学术期刊《自然》上发表。 | 序号 | 代码 | 名不 | 申万一级行业 | 涨跌幅 | 估直枚車 | | --- | --- | --- | --- | --- | --- | | 1 | 002050 | 三花智控 | 家用电器 | -0.40% | 8.01% | | 2 | 300274 | 阳光电源 | 电力设备 | -5.48% | 7.89% | | 3 | 300750 | 宁德时代 | 电力设备 | -4.47% | 7.42% | | 4 | 300014 | 亿纬锂 ...

Core Viewpoint - The year 2026 is expected to be the "year of large battery cells" in the energy storage industry, following 2025 as a preparatory year for long-duration energy storage transformation [1][3]. Group 1: Large Battery Cell Development - Major companies are investing in large battery cells, with significant advancements such as Hicharge Energy's 8-hour long-duration energy storage cell and CATL's 587Ah cell [2][10]. - The large battery cells, defined as lithium-ion cells with a capacity of ≥500Ah, are designed for long-duration energy storage, distinguishing them from traditional smaller cells [5][4]. - The advantages of large battery cells include longer cycle life, simpler system integration, and lower cost per kilowatt-hour, with potential cost reductions of 5%-10% in system-level costs and over 10% in energy costs for CATL's 587Ah cell [7][6]. Group 2: Market Dynamics and Growth Drivers - The year 2026 is identified as a pivotal moment due to the simultaneous fulfillment of three conditions: technological maturity, the emergence of long-duration energy storage as a necessity, and supportive policies [14][21]. - The demand for long-duration energy storage is expected to surge, with projections indicating a 200% increase in tender volumes for such projects in 2026 [16][20]. - The global energy transition is driving the need for long-duration storage solutions, with significant projects already being implemented worldwide [19][16]. Group 3: Industry Impact and Future Outlook - The emergence of large battery cells is anticipated to reshape the energy storage industry, leading to increased market concentration among leading firms and a shift in competitive dynamics [24][26]. - The focus on long-duration storage will streamline technology pathways, with large battery cells becoming the primary solution for long-duration applications [27][30]. - The market for large battery cells is projected to exceed 100 billion yuan in the next five years, positioning them as a key growth driver in the energy storage sector [32].

| 洛阳钼业 | -1.79 | -7.25亿元 | 有色金属 | | --- | --- | --- | --- | | 中国中免 | -2.44 | -7.13亿元 | 商贸零售 | | 澜起科技 | -1.56 | -7.01亿元 | 电子 | | 中信证券 | -1.3 | -6.76亿元 | 非银金融 | | 恩捷股份 | -4.83 | -6.35亿元 | 电力设备 | | 亿纬锂能 | -5.04 | -6.09亿元 | 电力设备 | | 比亚迪 | -1.75 | -5.95亿元 | 汽车 | | 网宿科技 | -2.95 | -5.91亿元 | 计算机 | | 天赐材料 | -3.66 | -5.69亿元 | 电力设备 | | 股票名称 | | 主力资金流向 | 所属行) | | --- | --- | --- | --- | | 阳光电源 | -5.48 | -20.02亿元 | 电力设备 | | 宁德时代 | -4.47 | -18.87亿元 | 电力设备 | | 北方稀土 | -2.2 | -14.76亿元 | 有色金属 | | 兆易创新 | -0.62 | -11.52亿元 | 电子 ...

新能源车ETF（515030）是目前市场上规模最大的新能源车主题ETF，与其联接基金（013013/013014） 跟踪中证新能源汽车指数（399976），选取涉及锂电池、充电桩、新能源整车等业务的上市公司股票作 为成份股，锂电池概念权重占比高达79.98%，前十大重仓股中涵盖了宁德时代（300750）、华友钴业 （603799）、亿纬锂能（300014）、赣锋锂业（002460）、中矿资源（002738）等行业龙头。助力投资 者一键布局。 中信证券表示，2025年中国19%的进口锂精矿来自津巴布韦，预计2026年津巴布韦锂资源产量占全球 12%，该国的锂矿出口禁令将导致中国碳酸锂短期供应愈发紧缺，有望推动锂价大幅上涨。 2月25日下午，多家国际媒体几乎同时放出重磅消息。据Reuters报道，津巴布韦政府宣布立即暂停所有 原材料及锂精矿出口，包括正在运输途中的货物。未来仅持有效采矿权及获批选矿厂的企业具备出口资 格，禁止代理及第三方贸易商出口。申请时需提交省级矿业办关于选矿能力及合规的建议信，并申报矿 物成分。违规者（如续用过期待办）将吊销出口许可乃至采矿权。 ...

锂电池板块盘中震荡回落， 鹏辉能源跌近10%， 雅化集团触及跌停， 盛新锂能、 天华新能、 亿纬锂 能、 宁德时代均跌超5%。 ...