update pay ui
This commit is contained in:
@@ -1,491 +1,499 @@
|
||||
|
||||
<!DOCTYPE html>
|
||||
<html lang="zh-CN">
|
||||
<html lang="zh-CN" data-theme="night">
|
||||
<head>
|
||||
<meta charset="utf-8" />
|
||||
<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
|
||||
<title>铅酸电池概念分析报告</title>
|
||||
<link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
|
||||
<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
|
||||
<link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
|
||||
<script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
|
||||
<script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
|
||||
<script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
|
||||
<script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
|
||||
<style>
|
||||
body {
|
||||
font-family: 'Inter', sans-serif;
|
||||
background: linear-gradient(135deg, #f5f7fa 0%, #c3cfe2 100%);
|
||||
min-height: 100vh;
|
||||
}
|
||||
.gradient-bg {
|
||||
background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
|
||||
}
|
||||
.card-shadow {
|
||||
box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
|
||||
}
|
||||
.timeline-dot {
|
||||
position: relative;
|
||||
}
|
||||
.timeline-dot::before {
|
||||
content: '';
|
||||
position: absolute;
|
||||
width: 12px;
|
||||
height: 12px;
|
||||
border-radius: 50%;
|
||||
background-color: #667eea;
|
||||
top: 6px;
|
||||
left: -6px;
|
||||
}
|
||||
.timeline-line {
|
||||
position: absolute;
|
||||
width: 2px;
|
||||
background-color: #e2e8f0;
|
||||
top: 0;
|
||||
bottom: 0;
|
||||
left: 0;
|
||||
}
|
||||
.highlight {
|
||||
background: linear-gradient(transparent 60%, rgba(102, 126, 234, 0.2) 40%);
|
||||
padding: 0 2px;
|
||||
}
|
||||
.table-responsive {
|
||||
overflow-x: auto;
|
||||
}
|
||||
@media (max-width: 768px) {
|
||||
.table-responsive {
|
||||
overflow-x: scroll;
|
||||
}
|
||||
}
|
||||
</style>
|
||||
<meta charset="UTF-8">
|
||||
<meta name="viewport" content="width=device-width, initial-scale=1.0">
|
||||
<title>深度研报：铅酸电池概念</title>
|
||||
<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.1/dist/full.min.css" rel="stylesheet" type="text/css" />
|
||||
<script src="https://cdn.tailwindcss.com"></script>
|
||||
<script defer src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js"></script>
|
||||
<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
|
||||
<style>
|
||||
@import url('https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700&display=swap');
|
||||
body {
|
||||
font-family: 'Inter', sans-serif;
|
||||
background-color: #020414;
|
||||
background-image:
|
||||
radial-gradient(circle at 15% 20%, rgba(29, 78, 216, 0.15), transparent 40%),
|
||||
radial-gradient(circle at 85% 70%, rgba(139, 92, 246, 0.15), transparent 40%),
|
||||
radial-gradient(circle at 50% 50%, rgba(219, 39, 119, 0.1), transparent 50%);
|
||||
color: #d1d5db;
|
||||
}
|
||||
.glass-card {
|
||||
background: rgba(23, 25, 48, 0.5);
|
||||
backdrop-filter: blur(20px);
|
||||
-webkit-backdrop-filter: blur(20px);
|
||||
border: 1px solid rgba(255, 255, 255, 0.1);
|
||||
border-radius: 1.5rem; /* 24px */
|
||||
transition: all 0.3s ease;
|
||||
}
|
||||
.glass-card:hover {
|
||||
transform: translateY(-5px);
|
||||
box-shadow: 0 0 40px rgba(29, 78, 216, 0.2), 0 0 60px rgba(139, 92, 246, 0.1);
|
||||
}
|
||||
.bento-grid {
|
||||
display: grid;
|
||||
gap: 1rem;
|
||||
grid-template-columns: repeat(3, 1fr);
|
||||
grid-auto-rows: auto;
|
||||
}
|
||||
.bento-item-1 { grid-column: span 2; grid-row: span 2; }
|
||||
.bento-item-2 { grid-column: span 1; grid-row: span 1; }
|
||||
.bento-item-3 { grid-column: span 1; grid-row: span 1; }
|
||||
.bento-item-4 { grid-column: span 3; grid-row: span 1; }
|
||||
.glow-text {
|
||||
text-shadow: 0 0 8px rgba(59, 130, 246, 0.8);
|
||||
}
|
||||
.quote-block {
|
||||
border-left: 3px solid #3b82f6;
|
||||
padding-left: 1rem;
|
||||
margin: 1rem 0;
|
||||
font-style: italic;
|
||||
color: #9ca3af;
|
||||
background: rgba(255, 255, 255, 0.03);
|
||||
border-radius: 0.5rem;
|
||||
padding-top: 0.5rem;
|
||||
padding-bottom: 0.5rem;
|
||||
}
|
||||
.table th, .table td {
|
||||
border-color: rgba(255, 255, 255, 0.1);
|
||||
}
|
||||
.table th {
|
||||
color: #e5e7eb;
|
||||
}
|
||||
.collapse-title {
|
||||
font-size: 1.125rem;
|
||||
font-weight: 600;
|
||||
}
|
||||
</style>
|
||||
</head>
|
||||
<body>
|
||||
<div id="vanta-bg" class="fixed inset-0 z-0"></div>
|
||||
<div class="relative z-10 container mx-auto px-4 py-8 max-w-6xl">
|
||||
<!-- 标题部分 -->
|
||||
<div class="text-center mb-12">
|
||||
<h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">铅酸电池概念分析</h1>
|
||||
<p class="text-xl text-gray-600">政策驱动与数据中心需求爆发的双轮驱动</p>
|
||||
<body class="min-h-screen p-4 sm:p-8">
|
||||
<div class="max-w-7xl mx-auto space-y-8">
|
||||
|
||||
<!-- Header -->
|
||||
<header class="text-center p-8 space-y-4 glass-card">
|
||||
<h1 class="text-4xl sm:text-5xl font-bold bg-clip-text text-transparent bg-gradient-to-r from-blue-400 via-purple-400 to-pink-500 glow-text">
|
||||
铅酸电池 概念深度研报
|
||||
</h1>
|
||||
<p class="text-lg text-gray-300 max-w-4xl mx-auto">
|
||||
铅酸电池概念正经历一场由“新需求”与“旧格局”错配引爆的结构性重估。AI算力驱动下数据中心(AIDC)备电需求激增，与政策驱动下电动两轮车市场巩固，共同构成本轮行情的核心双引擎。
|
||||
</p>
|
||||
<p class="text-xs text-gray-500 pt-4">北京价值前沿科技有限公司 AI投研agent：“价小前投研”呈现 | 本报告为AI合成数据，投资需谨慎。</p>
|
||||
</header>
|
||||
|
||||
<!-- Concept Events Timeline -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-6 text-blue-300 glow-text">概念驱动事件演进</h2>
|
||||
<div class="grid md:grid-cols-2 gap-6">
|
||||
<!-- AIDC Logic -->
|
||||
<div class="space-y-4 p-4 bg-black/20 rounded-2xl border border-white/10">
|
||||
<h3 class="font-semibold text-xl text-purple-300">数据中心 (AIDC) 需求爆发逻辑</h3>
|
||||
<ul class="steps steps-vertical">
|
||||
<li class="step step-primary">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">催化起点 (2024年底 - 2025年初)</p>
|
||||
<p class="text-sm text-gray-400">AI大模型应用爆发，全球智算中心(AIDC)建设加速，UPS铅酸电池需求激增，供需紧张初现。</p>
|
||||
</div>
|
||||
</li>
|
||||
<li class="step step-primary">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">价格传导 (2025年Q1 - Q2)</p>
|
||||
<p class="text-sm text-gray-400">供需失衡显现，订单价格持续上涨，单价从0.5-0.6元/Wh突破至0.7元/Wh以上。</p>
|
||||
</div>
|
||||
</li>
|
||||
<li class="step">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">市场发酵 (2025年Q2 - Q3)</p>
|
||||
<p class="text-sm text-gray-400">市场深度挖掘产能瓶颈与高壁垒，确认头部厂商寡头地位，订单排期已至9-10月。</p>
|
||||
</div>
|
||||
</li>
|
||||
</ul>
|
||||
</div>
|
||||
<!-- E2W Logic -->
|
||||
<div class="space-y-4 p-4 bg-black/20 rounded-2xl border border-white/10">
|
||||
<h3 class="font-semibold text-xl text-pink-300">电动两轮车 (E2W) 政策驱动逻辑</h3>
|
||||
<ul class="steps steps-vertical">
|
||||
<li class="step step-primary">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">背景 (2022-2023年)</p>
|
||||
<p class="text-sm text-gray-400">因安全事故频发，锂电渗透率从高峰25-30%回落至15%，铅酸因安全与成本优势出现“回流”。</p>
|
||||
</div>
|
||||
</li>
|
||||
<li class="step step-primary">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">政策催化 (2024年8-9月)</p>
|
||||
<p class="text-sm text-gray-400">五部门发布以旧换新方案，明确鼓励“锂换铅”，提供最高800元补贴。</p>
|
||||
</div>
|
||||
</li>
|
||||
<li class="step">
|
||||
<div class="text-left ml-4">
|
||||
<p class="font-bold">标准落地 (2025年1月)</p>
|
||||
<p class="text-sm text-gray-400">工信部发布新国标，将铅酸车型整车重量上限从55kg放宽至63kg，弥补续航短板。</p>
|
||||
</div>
|
||||
</li>
|
||||
</ul>
|
||||
</div>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
<!-- Core Logic Bento Grid -->
|
||||
<section class="bento-grid">
|
||||
<!-- AIDC Core Logic & Price Chart -->
|
||||
<div class="bento-item-1 glass-card p-6 flex flex-col">
|
||||
<h2 class="text-2xl font-bold mb-4 text-blue-300 glow-text">核心逻辑 (一): AIDC需求与供给刚性错配</h2>
|
||||
<p class="text-gray-300 mb-4">本轮行情最核心驱动力。AI发展导致数据中心功耗激增，UPS备电需求被数倍放大。而供给端却因环保、技术、认证三大壁垒呈现极强刚性，导致供不应求和价格上涨的必然性。</p>
|
||||
<div class="quote-block">
|
||||
<p>“2025年铅酸备电需求预计超10GWh...头部企业有效供给不足10GWh...25年初行业供需已经进入紧平衡，马上就要开抢了。”</p>
|
||||
</div>
|
||||
<div class="flex-grow min-h-[300px]" id="price-chart"></div>
|
||||
</div>
|
||||
|
||||
<!-- E2W Core Logic -->
|
||||
<div class="bento-item-2 glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-4 text-pink-300 glow-text">核心逻辑 (二): 两轮车政策性托底</h2>
|
||||
<p class="text-gray-300 mb-4">“安全+成本”双重优势在政策催化下被强化。以旧换新方案旗帜鲜明地将锂电池与“高安全隐患”挂钩，并给予“锂换铅”更高补贴，形成强烈的政策背书。</p>
|
||||
<div class="quote-block">
|
||||
<p>“五部门：适度加大电自锂电换铅酸补贴力度...锂换铅购车补贴800，其他老旧500元/辆。”</p>
|
||||
</div>
|
||||
<p class="text-gray-300">新国标放宽车重限制，直接解决了铅酸电池能量密度低导致的续航痛点，巩固其市场主导地位。</p>
|
||||
</div>
|
||||
|
||||
<!-- Expectation Gaps -->
|
||||
<div class="bento-item-3 glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-4 text-purple-300 glow-text">市场预期差分析</h2>
|
||||
<ul class="space-y-3 list-disc list-inside text-gray-300">
|
||||
<li><strong class="text-purple-300">盈利弹性认知不足：</strong>价格小幅上涨能带来利润指数级增长。“若涨价5%，相当于利润翻倍”。</li>
|
||||
<li><strong class="text-purple-300">行业壁垒被低估：</strong>技术路线、产线改造(12-18月)和客户白名单认证(6月+)难度远超预期，头部厂商垄断地位稳固。</li>
|
||||
<li><strong class="text-purple-300">厂商扩产意愿误判：</strong>头部厂商因担忧锂电长期替代风险，扩产意愿保守，将拉长供需紧张周期。</li>
|
||||
</ul>
|
||||
</div>
|
||||
|
||||
<!-- Catalysts & Future Path -->
|
||||
<div class="bento-item-4 glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-4 text-gray-200 glow-text">关键催化剂与未来发展路径</h2>
|
||||
<div class="grid md:grid-cols-2 gap-6">
|
||||
<div>
|
||||
<h3 class="font-semibold text-lg text-blue-300 mb-2">近期催化剂 (未来3-6个月)</h3>
|
||||
<ul class="space-y-2 list-disc list-inside">
|
||||
<li><strong>新一轮IDC招标结果:</strong> 验证价格能否持续上涨的关键。</li>
|
||||
<li><strong>核心公司季度财报:</strong> 验证盈利弹性传导的“试金石”。</li>
|
||||
<li><strong>二线厂商认证进展:</strong> 决定竞争格局是否变化。</li>
|
||||
</ul>
|
||||
</div>
|
||||
<div>
|
||||
<h3 class="font-semibold text-lg text-purple-300 mb-2">长期发展路径</h3>
|
||||
<ul class="space-y-2 list-disc list-inside">
|
||||
<li><strong>短期(2025-26):</strong> AIDC驱动的供需紧张和价格上涨是主旋律。</li>
|
||||
<li><strong>中期(2027-28):</strong> 供需趋于平衡，与锂电的性价比博弈加剧。</li>
|
||||
<li><strong>长期(2028+):</strong> 可能面临新技术侵蚀，但在特定场景保有一席之地。</li>
|
||||
</ul>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
<!-- Industry Chain & Company Analysis -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-6 text-blue-300 glow-text">产业链与核心公司深度剖析</h2>
|
||||
<div class="space-y-6">
|
||||
<!-- Industry Chain -->
|
||||
<div>
|
||||
<h3 class="font-semibold text-xl mb-3 text-purple-300">产业链图谱</h3>
|
||||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4 text-center">
|
||||
<div class="p-4 bg-black/20 rounded-2xl border border-white/10">
|
||||
<p class="font-bold text-lg">上游</p>
|
||||
<p class="text-sm text-gray-400">原材料供应与回收 (铅矿, 硫酸, 再生铅)</p>
|
||||
<p class="mt-2 text-xs">代表: 粤宏远A, 再升科技</p>
|
||||
</div>
|
||||
<div class="p-4 bg-black/20 rounded-2xl border border-white/10 ring-2 ring-blue-500">
|
||||
<p class="font-bold text-lg">中游</p>
|
||||
<p class="text-sm text-gray-400">电池制造 (数据中心, 两轮车, 汽车启停)</p>
|
||||
<p class="mt-2 text-xs">代表: 南都电源, 圣阳股份, 天能股份, 骆驼股份</p>
|
||||
</div>
|
||||
<div class="p-4 bg-black/20 rounded-2xl border border-white/10">
|
||||
<p class="font-bold text-lg">下游</p>
|
||||
<p class="text-sm text-gray-400">应用场景 (数据中心, 通信基站, 电动车)</p>
|
||||
<p class="mt-2 text-xs">代表: 阿里, 字节, 雅迪</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- Core Players -->
|
||||
<div>
|
||||
<h3 class="font-semibold text-xl mb-3 text-purple-300">核心玩家对比</h3>
|
||||
<div class="grid md:grid-cols-2 lg:grid-cols-3 gap-4">
|
||||
<div class="p-4 bg-black/20 rounded-xl border border-white/10">
|
||||
<h4 class="font-bold text-blue-300">南都电源 vs. 圣阳股份</h4>
|
||||
<p class="text-sm mt-1"><strong>定位:</strong> 数据中心双雄，逻辑纯粹。</p>
|
||||
<p class="text-sm mt-1"><strong>优势:</strong> 深度绑定大厂，客户认证壁垒高。</p>
|
||||
<p class="text-sm mt-1 text-yellow-400"><strong>关注点:</strong> 产能数据存在口径差异，历史毛利率与未来预期存在鸿沟，需财报验证。</p>
|
||||
</div>
|
||||
<div class="p-4 bg-black/20 rounded-xl border border-white/10">
|
||||
<h4 class="font-bold text-pink-300">天能股份</h4>
|
||||
<p class="text-sm mt-1"><strong>定位:</strong> 两轮车霸主(市占率>45%)。</p>
|
||||
<p class="text-sm mt-1"><strong>优势:</strong> 渠道无与伦比(40万+终端)，品牌认知度高。</p>
|
||||
<p class="text-sm mt-1 text-yellow-400"><strong>关注点:</strong> 盈利受铅价影响大，短期难分享AIDC红利。</p>
|
||||
</div>
|
||||
<div class="p-4 bg-black/20 rounded-xl border border-white/10">
|
||||
<h4 class="font-bold text-green-300">雄韬股份</h4>
|
||||
<p class="text-sm mt-1"><strong>定位:</strong> 追赶者与多元化布局者。</p>
|
||||
<p class="text-sm mt-1"><strong>优势:</strong> 已进入阿里、百度白名单，海外UPS锂电份额领先。</p>
|
||||
<p class="text-sm mt-1 text-yellow-400"><strong>关注点:</strong> 逻辑不如双雄纯粹，议价能力可能弱于第一梯队。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- Validation & Contradictions -->
|
||||
<div>
|
||||
<h3 class="font-semibold text-xl mb-3 text-yellow-300">验证与矛盾点</h3>
|
||||
<div class="p-4 bg-yellow-900/20 rounded-xl border border-yellow-500/30 text-sm space-y-2">
|
||||
<p><strong class="text-green-400">高度验证:</strong> AIDC需求爆发、供给紧张、价格上涨的核心逻辑在新闻、路演、研报中得到高度交叉验证。</p>
|
||||
<p><strong class="text-red-400">核心矛盾点:</strong></p>
|
||||
<ul class="list-disc list-inside pl-4">
|
||||
<li><strong>产能数据混乱:</strong> 各来源对头部厂商产能数据存在明显出入 (如南都电源有1.5/2/4GWh三种说法)，影响供需缺口精确判断。</li>
|
||||
<li><strong>需求预测差异巨大:</strong> 2025年国内需求预测从“超10GWh”到“83GWh”，显示市场对天花板测算存在不确定性。</li>
|
||||
<li><strong>历史盈利与未来预期的鸿沟:</strong> 南都电源2024H1铅酸毛利率仅7.26%，与市场预期的10-15%净利率有巨大鸿沟，是当前最大风险点，亟待财报验证。</li>
|
||||
</ul>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
<!-- Risks -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-4 text-red-400 glow-text">潜在风险与挑战</h2>
|
||||
<ul class="grid md:grid-cols-2 gap-x-8 gap-y-4 list-disc list-inside">
|
||||
<li><strong>技术替代风险:</strong> 长期面临磷酸铁锂、钠离子电池的替代风险，尤其在海外市场。</li>
|
||||
<li><strong>商业化风险:</strong> AIDC建设进度不及预期，或二线厂商低价策略扰乱市场。</li>
|
||||
<li><strong>政策与成本风险:</strong> 两轮车补贴政策退坡，或上游铅价大幅波动侵蚀利润。</li>
|
||||
<li><strong>信息交叉验证风险:</strong> 产能、需求等关键数据存在矛盾，构成投资决策的核心不确定性。</li>
|
||||
</ul>
|
||||
</section>
|
||||
|
||||
<!-- Conclusion -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-4 text-blue-300 glow-text">综合结论与投资启示</h2>
|
||||
<div class="space-y-4">
|
||||
<p><strong class="text-lg text-blue-200">阶段判断：</strong> AIDC应用分支已明确进入基本面驱动阶段，具备高赔率、高弹性特征；两轮车分支则处于政策驱动下的稳定增长阶段。</p>
|
||||
<p><strong class="text-lg text-blue-200">核心价值环节：</strong> <span class="bg-blue-900/50 text-blue-200 px-2 py-1 rounded">数据中心用高倍率铅酸电池制造环节</span> 是当前最具投资价值的方向，因其需求增长最快、护城河最高、盈利弹性最大。</p>
|
||||
<div>
|
||||
<h3 class="font-semibold text-lg text-gray-200 mb-2">需重点跟踪的关键指标:</h3>
|
||||
<div class="flex flex-wrap gap-2">
|
||||
<span class="badge badge-lg badge-outline border-purple-400 text-purple-300">季度招标价格</span>
|
||||
<span class="badge badge-lg badge-outline border-purple-400 text-purple-300">在手订单与排产周期</span>
|
||||
<span class="badge badge-lg badge-outline border-yellow-400 text-yellow-300">核心公司毛利率</span>
|
||||
<span class="badge badge-lg badge-outline border-red-400 text-red-300">替代技术进展</span>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
<!-- Stock List -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-6 text-blue-300 glow-text">核心标的列表</h2>
|
||||
<div class="overflow-x-auto">
|
||||
<table class="table table-zebra w-full">
|
||||
<thead>
|
||||
<tr>
|
||||
<th>股票名称</th>
|
||||
<th>股票代码</th>
|
||||
<th>核心逻辑</th>
|
||||
<th>其他标签</th>
|
||||
</tr>
|
||||
</thead>
|
||||
<tbody>
|
||||
<tr>
|
||||
<td>天能股份</td>
|
||||
<td><a href="https://valuefrontier.cn/company?scode=688819" target="_blank" class="link link-hover text-blue-400">688819</a></td>
|
||||
<td>2023年国内电动轻型车铅蓄动力电池的市场，公司市场占有率超45%排名第一。2022年底铅蓄电池产能110GW。</td>
|
||||
<td class="text-green-400">制图节点涨幅大于10%</td>
|
||||
</tr>
|
||||
<tr>
|
||||
<td>南都电源</td>
|
||||
<td><a href="https://valuefrontier.cn/company?scode=300068" target="_blank" class="link link-hover text-blue-400">300068</a></td>
|
||||
<td>数据中心/通信备电第一梯队核心供应商，深度绑定阿里、字节等大厂，将直接受益于AIDC需求爆发和价格上涨。</td>
|
||||
<td>AIDC核心标的</td>
|
||||
</tr>
|
||||
<tr>
|
||||
<td>雄韬股份</td>
|
||||
<td><a href="https://valuefrontier.cn/company?scode=002733" target="_blank" class="link link-hover text-blue-400">002733</a></td>
|
||||
<td>数据中心用铅酸电池追赶者，已进入阿里、百度白名单，受益于订单外溢。海外UPS锂电业务领先。</td>
|
||||
<td>涨幅分析补充</td>
|
||||
</tr>
|
||||
<tr>
|
||||
<td>骆驼股份</td>
|
||||
<td><a href="https://valuefrontier.cn/company?scode=601311" target="_blank" class="link link-hover text-blue-400">601311</a></td>
|
||||
<td>国内低压铅酸电池龙头，2023年铅酸电池营收占比77%，但应用领域主要为汽车启停。</td>
|
||||
<td>汽车启停龙头</td>
|
||||
</tr>
|
||||
<tr>
|
||||
<td>再升科技</td>
|
||||
<td><a href="https://valuefrontier.cn/company?scode=603601" target="_blank" class="link link-hover text-blue-400">603601</a></td>
|
||||
<td>AGM隔膜技术领先，铅酸蓄电池需求量增加，进而促进AGM隔板用量增加。</td>
|
||||
<td>上游材料</td>
|
||||
</tr>
|
||||
<tr>
|
||||
<td>粤宏远A</td>
|
||||
<td>-</td>
|
||||
<td>2023年废旧铅蓄电池回收收入占比66%。</td>
|
||||
<td>再生铅</td>
|
||||
</tr>
|
||||
</tbody>
|
||||
</table>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
<!-- Rise Analysis -->
|
||||
<section class="glass-card p-6">
|
||||
<h2 class="text-2xl font-bold mb-6 text-purple-300 glow-text">涨幅分析补充</h2>
|
||||
<div class="space-y-4">
|
||||
<div class="collapse collapse-plus bg-black/20 border border-white/10 rounded-xl">
|
||||
<input type="checkbox" />
|
||||
<div class="collapse-title">
|
||||
雄韬股份 (002733) - 2025-08-06 上涨5.70%
|
||||
</div>
|
||||
<div class="collapse-content">
|
||||
<p><strong>核心催化剂：券商研究报告强烈推荐</strong>。天风电新报告指出Q2业绩拐点，并大幅调高铅酸、锂电业务预期，预测25年归母净利同比+230%，给予50%市值增幅空间。长江电新报告形成板块效应。基本面看，公司海外业务回暖，国内UPS铅酸订单开始落地，已进入阿里、百度白名单，共同推动股价上涨。</p>
|
||||
</div>
|
||||
</div>
|
||||
<div class="collapse collapse-plus bg-black/20 border border-white/10 rounded-xl">
|
||||
<input type="checkbox" />
|
||||
<div class="collapse-title">
|
||||
野马电池 (605378) - 2025-09-05 上涨10.02%
|
||||
</div>
|
||||
<div class="collapse-content">
|
||||
<p><strong>核心结论：</strong>“电动自行车用锂离子电池安全要求强制国标”首次把可替换型圆柱电池纳入强制合规目录，公司0.7 GWh 21700中试线9月设备进厂且已签3年战略供货备忘录，成为A股最小市值“政策-订单-产能”三击标的，资金一次性重定价。</p>
|
||||
</div>
|
||||
</div>
|
||||
<div class="collapse collapse-plus bg-black/20 border border-white/10 rounded-xl">
|
||||
<input type="checkbox" />
|
||||
<div class="collapse-title">
|
||||
新日股份 (603787) - 2025-06-11 上涨10.02%
|
||||
</div>
|
||||
<div class="collapse-content">
|
||||
<p><strong>核心结论：</strong>主要受益于电动自行车以旧换新政策叠加公司积极拓展东南亚市场的双重利好驱动。作为两轮车龙头将直接受益，且政策对铅酸车型换购的更大补贴力度利好公司产品结构。钠电产业化预期和海外市场布局打开长期成长空间。</p>
|
||||
</div>
|
||||
</div>
|
||||
<div class="collapse collapse-plus bg-black/20 border border-white/10 rounded-xl">
|
||||
<input type="checkbox" />
|
||||
<div class="collapse-title">
|
||||
天华新能 (300390) - 2025-09-05 上涨20.01%
|
||||
</div>
|
||||
<div class="collapse-content">
|
||||
<p><strong>核心结论：</strong>“高纯硫化锂已送样头部电池厂”确认公司卡位硫化物固态电池最紧缺国产材料，资金提前博弈供应链锁单。同时，电动自行车锂电安全新标倒逼铅酸替换，提升了对公司主营基础锂盐材料的需求，双重催化下资金抢筹。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</section>
|
||||
|
||||
</div>
|
||||
|
||||
<!-- 概念事件时间线 -->
|
||||
<div class="bg-white rounded-xl p-6 mb-8 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-calendar-alt mr-3 text-purple-600"></i>概念事件时间线
|
||||
</h2>
|
||||
<div class="relative pl-8">
|
||||
<div class="timeline-line"></div>
|
||||
<div class="space-y-6">
|
||||
<div class="timeline-dot">
|
||||
<h3 class="font-semibold text-lg text-gray-800">2024年8月</h3>
|
||||
<p class="text-gray-600">商务部发布《电动自行车以旧换新实施方案》，明确鼓励"锂电换铅酸"，单车补贴额外增加100元</p>
|
||||
</div>
|
||||
<div class="timeline-dot">
|
||||
<h3 class="font-semibold text-lg text-gray-800">2024年9月</h3>
|
||||
<p class="text-gray-600">工信部放宽电动自行车新国标限重（55kg→63kg），铅酸电池因能量密度低需更大体积，政策实质向铅酸倾斜</p>
|
||||
</div>
|
||||
<div class="timeline-dot">
|
||||
<h3 class="font-semibold text-lg text-gray-800">2024年11月</h3>
|
||||
<p class="text-gray-600">数据中心铅酸电池价格启动上涨，头部企业（圣阳、南都、双登）订单排产至2025年9月，供需缺口显现</p>
|
||||
</div>
|
||||
<div class="timeline-dot">
|
||||
<h3 class="font-semibold text-lg text-gray-800">2025年3月</h3>
|
||||
<p class="text-gray-600">广发电新测算，2025年国内智算中心铅酸电池需求<span class="highlight font-bold">6GWh</span>（对应5GW装机），而有效产能仅<span class="highlight font-bold">9GWh</span>，缺口达<span class="highlight font-bold">33%</span></p>
|
||||
</div>
|
||||
<div class="timeline-dot">
|
||||
<h3 class="font-semibold text-lg text-gray-800">2025年Q2</h3>
|
||||
<p class="text-gray-600">字节、阿里等互联网大厂资本开支翻倍，数据中心招标密集落地，铅酸电池第二轮涨价启动（涨幅10-15%）</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
<script>
|
||||
var chartDom = document.getElementById('price-chart');
|
||||
var myChart = echarts.init(chartDom, 'dark');
|
||||
var option;
|
||||
|
||||
<!-- 核心观点摘要 -->
|
||||
<div class="gradient-bg rounded-xl p-6 mb-8 text-white">
|
||||
<h2 class="text-2xl font-bold mb-6 flex items-center">
|
||||
<i class="fas fa-lightbulb mr-3"></i>核心观点摘要
|
||||
</h2>
|
||||
<div class="space-y-4">
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-4">
|
||||
<h3 class="font-semibold text-lg mb-2">阶段判断</h3>
|
||||
<p>铅酸电池正从"政策驱动的存量替换"转向"数据中心需求爆发+供给刚性"的双轮驱动阶段，<span class="font-bold">2025年迎来量价齐升的戴维斯双击</span>。</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-4">
|
||||
<h3 class="font-semibold text-lg mb-2">核心矛盾</h3>
|
||||
<p>环保限产导致产能无法快速扩张（环评审批需6-12个月），而AI算力基建带来<span class="font-bold">3年维度的高确定性需求</span>（2025-2027年CAGR 51%）。</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-4">
|
||||
<h3 class="font-semibold text-lg mb-2">预期差</h3>
|
||||
<p>市场仍将其视为"夕阳产业"，忽视数据中心用铅酸电池的高壁垒（白名单认证+技术差异），<span class="font-bold">龙头公司估值仅15-20倍PE</span>，未反映涨价弹性。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 核心逻辑与市场认知分析 -->
|
||||
<div class="bg-white rounded-xl p-6 mb-8 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-chart-line mr-3 text-purple-600"></i>核心逻辑与市场认知分析
|
||||
</h2>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mb-4">核心驱动力</h3>
|
||||
<div class="overflow-x-auto">
|
||||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||||
<thead>
|
||||
<tr class="bg-gray-50">
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">维度</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">数据验证</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">逻辑推导</th>
|
||||
</tr>
|
||||
</thead>
|
||||
<tbody>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">政策端</td>
|
||||
<td class="py-3 px-4 border-b">新国标放宽限重+以旧换新补贴</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池在两轮车渗透率从2023年90%→2025年<span class="highlight font-bold">95%+</span>（存量替换需求<span class="highlight font-bold">200GWh/年</span>）</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">需求端</td>
|
||||
<td class="py-3 px-4 border-b">2025年国内智算中心装机5GW→铅酸需求6GWh</td>
|
||||
<td class="py-3 px-4 border-b">数据中心备电<span class="highlight font-bold">不可替代</span>（锂电渗透率<5%，安全性未解决），需求增速<span class="highlight font-bold">183%</span></td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">供给端</td>
|
||||
<td class="py-3 px-4 border-b">头部三家企业产能利用率<span class="highlight font-bold">>90%</span></td>
|
||||
<td class="py-3 px-4 border-b">环保限产+产线切换困难（两轮车电池无法转产数据中心），<span class="highlight font-bold">新增产能为0</span></td>
|
||||
</tr>
|
||||
</tbody>
|
||||
</table>
|
||||
</div>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mt-8 mb-4">市场认知偏差</h3>
|
||||
<div class="grid md:grid-cols-2 gap-6">
|
||||
<div class="bg-red-50 border-l-4 border-red-500 p-4 rounded">
|
||||
<h4 class="font-semibold text-red-800 mb-2">误区1："锂电将替代铅酸"</h4>
|
||||
<p class="text-red-700"><strong>证伪</strong>：数据中心场景中，锂电因热失控风险被禁用（阿里2024年测试后仍选铅酸），海外渗透率也仅10%。</p>
|
||||
</div>
|
||||
<div class="bg-red-50 border-l-4 border-red-500 p-4 rounded">
|
||||
<h4 class="font-semibold text-red-800 mb-2">误区2："行业产能过剩"</h4>
|
||||
<p class="text-red-700"><strong>证伪</strong>：数据中心用铅酸电池需<span class="font-bold">4-6C高倍率放电</span>，与普通电池产线不兼容，有效供给仅<span class="font-bold">9GWh</span>（需求10GWh+）。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 关键催化剂与未来发展路径 -->
|
||||
<div class="bg-white rounded-xl p-6 mb-8 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-rocket mr-3 text-purple-600"></i>关键催化剂与未来发展路径
|
||||
</h2>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mb-4">近期催化剂（3-6个月）</h3>
|
||||
<div class="space-y-4 mb-8">
|
||||
<div class="flex items-start">
|
||||
<div class="flex-shrink-0 w-8 h-8 bg-purple-100 rounded-full flex items-center justify-center mr-3 mt-1">
|
||||
<span class="text-purple-600 font-bold">1</span>
|
||||
</div>
|
||||
<div>
|
||||
<h4 class="font-semibold text-gray-800">2025年6月</h4>
|
||||
<p class="text-gray-600">阿里、腾讯数据中心招标落地，预计订单规模<span class="highlight font-bold">8-10亿元</span>（对应1GWh），触发第三轮涨价（涨幅或达20%）。</p>
|
||||
</div>
|
||||
</div>
|
||||
<div class="flex items-start">
|
||||
<div class="flex-shrink-0 w-8 h-8 bg-purple-100 rounded-full flex items-center justify-center mr-3 mt-1">
|
||||
<span class="text-purple-600 font-bold">2</span>
|
||||
</div>
|
||||
<div>
|
||||
<h4 class="font-semibold text-gray-800">2025年Q3</h4>
|
||||
<p class="text-gray-600">铅价若突破<span class="highlight font-bold">2万元/吨</span>（当前1.8万），成本传导将加速（每涨1000元→电池成本+0.02元/Wh）。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mb-4">长期路径（2025-2027）</h3>
|
||||
<div class="grid md:grid-cols-3 gap-4">
|
||||
<div class="bg-blue-50 p-4 rounded-lg">
|
||||
<h4 class="font-semibold text-blue-800 mb-2">2025年</h4>
|
||||
<p class="text-blue-700">供需缺口扩大，价格从0.6元/Wh→0.8元/Wh，龙头净利率从10%→15%。</p>
|
||||
</div>
|
||||
<div class="bg-blue-50 p-4 rounded-lg">
|
||||
<h4 class="font-semibold text-blue-800 mb-2">2026年</h4>
|
||||
<p class="text-blue-700">二线厂商（理士、雄韬）通过认证进入市场，但头部仍占<span class="font-bold">80%份额</span>，价格战概率低。</p>
|
||||
</div>
|
||||
<div class="bg-blue-50 p-4 rounded-lg">
|
||||
<h4 class="font-semibold text-blue-800 mb-2">2027年</h4>
|
||||
<p class="text-blue-700">若锂电安全性突破，数据中心渗透率或提升至20%，但铅酸仍主导<span class="font-bold">高功率场景</span>（如15分钟备电）。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 产业链与核心公司深度剖析 -->
|
||||
<div class="bg-white rounded-xl p-6 mb-8 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-sitemap mr-3 text-purple-600"></i>产业链与核心公司深度剖析
|
||||
</h2>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mb-4">产业链图谱</h3>
|
||||
<div class="bg-gray-50 p-4 rounded-lg mb-6">
|
||||
<div class="flex flex-wrap items-center justify-center gap-4">
|
||||
<div class="bg-white px-4 py-2 rounded-lg shadow-sm">上游：铅锭（豫光金铅）</div>
|
||||
<div class="text-gray-400">→</div>
|
||||
<div class="bg-white px-4 py-2 rounded-lg shadow-sm">再生铅（骆驼股份）</div>
|
||||
<div class="text-gray-400">→</div>
|
||||
<div class="bg-white px-4 py-2 rounded-lg shadow-sm">中游：电池制造（圣阳/南都/双登）</div>
|
||||
<div class="text-gray-400">→</div>
|
||||
<div class="bg-white px-4 py-2 rounded-lg shadow-sm">认证（泰尔实验室）</div>
|
||||
<div class="text-gray-400">→</div>
|
||||
<div class="bg-white px-4 py-2 rounded-lg shadow-sm">下游：数据中心（阿里/字节/腾讯）+两轮车（雅迪/爱玛）</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mb-4">核心玩家对比</h3>
|
||||
<div class="overflow-x-auto">
|
||||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||||
<thead>
|
||||
<tr class="bg-gray-50">
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">公司</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">数据中心产能</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">2025年PE</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">核心优势</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">风险点</th>
|
||||
</tr>
|
||||
</thead>
|
||||
<tbody>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">圣阳股份</td>
|
||||
<td class="py-3 px-4 border-b"><span class="highlight font-bold">3GWh</span>（占40%份额）</td>
|
||||
<td class="py-3 px-4 border-b"><span class="highlight font-bold">15倍</span></td>
|
||||
<td class="py-3 px-4 border-b">互联网客户订单弹性大（字节核心供应商）</td>
|
||||
<td class="py-3 px-4 border-b">产能扩张受限（环评未批复）</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">南都电源</td>
|
||||
<td class="py-3 px-4 border-b"><span class="highlight font-bold">3GWh</span>（扩产中）</td>
|
||||
<td class="py-3 px-4 border-b"><span class="highlight font-bold">20倍</span></td>
|
||||
<td class="py-3 px-4 border-b">海外订单（北美/东南亚）+锂电协同</td>
|
||||
<td class="py-3 px-4 border-b">锂电业务拖累估值</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">双登集团</td>
|
||||
<td class="py-3 px-4 border-b"><span class="highlight font-bold">6GWh</span>（2025年）</td>
|
||||
<td class="py-3 px-4 border-b">未上市</td>
|
||||
<td class="py-3 px-4 border-b">最大产能，阿里一级供应商</td>
|
||||
<td class="py-3 px-4 border-b">港股上市进度不确定</td>
|
||||
</tr>
|
||||
</tbody>
|
||||
</table>
|
||||
</div>
|
||||
|
||||
<h3 class="text-xl font-semibold text-gray-800 mt-8 mb-4">验证与证伪</h3>
|
||||
<div class="space-y-4">
|
||||
<div class="bg-green-50 border-l-4 border-green-500 p-4 rounded">
|
||||
<h4 class="font-semibold text-green-800 mb-2">圣阳股份</h4>
|
||||
<p class="text-green-700">路演确认其<span class="font-bold">3GWh产能已满产</span>，排产至9月，与研报"涨价弹性最大"一致。</p>
|
||||
</div>
|
||||
<div class="bg-yellow-50 border-l-4 border-yellow-500 p-4 rounded">
|
||||
<h4 class="font-semibold text-yellow-800 mb-2">南都电源</h4>
|
||||
<p class="text-yellow-700">2024年数据中心出货仅<span class="font-bold">0.34GWh</span>（占比20%），低于研报预期，需跟踪扩产落地。</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 潜在风险与挑战 -->
|
||||
<div class="bg-white rounded-xl p-6 mb-8 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-exclamation-triangle mr-3 text-purple-600"></i>潜在风险与挑战
|
||||
</h2>
|
||||
<div class="overflow-x-auto">
|
||||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||||
<thead>
|
||||
<tr class="bg-gray-50">
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">风险类型</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">具体表现</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">概率评估</th>
|
||||
</tr>
|
||||
</thead>
|
||||
<tbody>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">技术替代</td>
|
||||
<td class="py-3 px-4 border-b">锂电通过UL9540A防火测试，2026年或抢占20%市场</td>
|
||||
<td class="py-3 px-4 border-b"><span class="text-yellow-600 font-bold">中</span>（需2-3年验证）</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">政策风险</td>
|
||||
<td class="py-3 px-4 border-b">环保限产放松，天能/超威转产数据中心电池</td>
|
||||
<td class="py-3 px-4 border-b"><span class="text-green-600 font-bold">低</span>（环评审批趋严）</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">需求波动</td>
|
||||
<td class="py-3 px-4 border-b">若AI资本开支低于预期（如阿里削减预算）</td>
|
||||
<td class="py-3 px-4 border-b"><span class="text-yellow-600 font-bold">中</span>（跟踪BAT资本开支）</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">数据矛盾</td>
|
||||
<td class="py-3 px-4 border-b">路演称"二线厂商Q4进入"，但认证需6个月→实际或推迟至2026年</td>
|
||||
<td class="py-3 px-4 border-b"><span class="text-red-600 font-bold">高</span>（需验证认证进度）</td>
|
||||
</tr>
|
||||
</tbody>
|
||||
</table>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 综合结论与投资启示 -->
|
||||
<div class="gradient-bg rounded-xl p-6 mb-8 text-white">
|
||||
<h2 class="text-2xl font-bold mb-6 flex items-center">
|
||||
<i class="fas fa-trophy mr-3"></i>综合结论与投资启示
|
||||
</h2>
|
||||
<div class="mb-6">
|
||||
<h3 class="text-xl font-semibold mb-3">结论</h3>
|
||||
<p class="text-lg">铅酸电池处于<span class="font-bold">"供给刚性+需求爆发"</span>的黄金期，<span class="font-bold">2025年涨价周期确定性极高</span>，龙头公司估值未充分反映。</p>
|
||||
</div>
|
||||
|
||||
<div class="mb-6">
|
||||
<h3 class="text-xl font-semibold mb-3">投资方向</h3>
|
||||
<div class="space-y-3">
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p><span class="font-bold">1. 纯数据中心标的</span>：圣阳股份（15倍PE+40%市占率）</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p><span class="font-bold">2. 双轮驱动</span>：南都电源（铅酸涨价+锂电出海）</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p><span class="font-bold">3. 上游资源</span>：豫光金铅（铅价上涨受益）</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<div>
|
||||
<h3 class="text-xl font-semibold mb-3">跟踪指标</h3>
|
||||
<div class="grid md:grid-cols-3 gap-4">
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p class="font-semibold">6月招标结果</p>
|
||||
<p class="text-sm">阿里/腾讯订单分配比例</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p class="font-semibold">铅价走势</p>
|
||||
<p class="text-sm">LME铅库存与再生铅开工率</p>
|
||||
</div>
|
||||
<div class="bg-white bg-opacity-20 rounded-lg p-3">
|
||||
<p class="font-semibold">产能动态</p>
|
||||
<p class="text-sm">圣阳/南都环评批复进度</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<!-- 关联股票数据 -->
|
||||
<div class="bg-white rounded-xl p-6 card-shadow">
|
||||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||||
<i class="fas fa-chart-bar mr-3 text-purple-600"></i>关联股票数据
|
||||
</h2>
|
||||
<div class="table-responsive">
|
||||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||||
<thead>
|
||||
<tr class="bg-gray-50">
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票名称</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">行业</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">关键指标</th>
|
||||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">投资理由</th>
|
||||
</tr>
|
||||
</thead>
|
||||
<tbody>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">天能股份</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池</td>
|
||||
<td class="py-3 px-4 border-b">2023年国内电动轻型车铅蓄电池动力电池市场占有率超45%；2022年底铅蓄电池产能110GW</td>
|
||||
<td class="py-3 px-4 border-b">2023年国内电动轻型车铅蓄电池动力电池市场占有率超45%，排名第一；2022年底铅蓄电池产能110GW</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">粤宏远A</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池</td>
|
||||
<td class="py-3 px-4 border-b">2023年废旧铅蓄电池回收收入占比66%</td>
|
||||
<td class="py-3 px-4 border-b">2023年废旧铅蓄电池回收收入占比66%</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">骆驼股份</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池</td>
|
||||
<td class="py-3 px-4 border-b">2023年铅酸电池营收占比77%；应用领域：汽车</td>
|
||||
<td class="py-3 px-4 border-b">2023年铅酸电池营收占比77%，但应用领域为汽车</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">南都电源</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池</td>
|
||||
<td class="py-3 px-4 border-b">2023年铅蓄电池营收占比14%</td>
|
||||
<td class="py-3 px-4 border-b">2023年铅蓄电池营收占比14%</td>
|
||||
</tr>
|
||||
<tr class="hover:bg-gray-50">
|
||||
<td class="py-3 px-4 border-b font-medium">再升科技</td>
|
||||
<td class="py-3 px-4 border-b">铅酸电池</td>
|
||||
<td class="py-3 px-4 border-b">AGM隔膜技术领先；铅酸蓄电池需求量增加促进AGM隔板用量增加</td>
|
||||
<td class="py-3 px-4 border-b">AGM隔膜技术领先，铅酸蓄电池需求量增加，进而促进AGM隔板用量增加</td>
|
||||
</tr>
|
||||
</tbody>
|
||||
</table>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
<script>
|
||||
// 初始化Vanta.js背景
|
||||
VANTA.WAVES({
|
||||
el: "#vanta-bg",
|
||||
mouseControls: true,
|
||||
touchControls: true,
|
||||
gyroControls: false,
|
||||
minHeight: 200.00,
|
||||
minWidth: 200.00,
|
||||
scale: 1.00,
|
||||
scaleMobile: 1.00,
|
||||
color: 0x667eea,
|
||||
shininess: 30.00,
|
||||
waveHeight: 15.00,
|
||||
waveSpeed: 0.75,
|
||||
zoom: 0.85
|
||||
});
|
||||
|
||||
// 初始化粒子效果
|
||||
tsParticles.load("vanta-bg", {
|
||||
particles: {
|
||||
number: {
|
||||
value: 30,
|
||||
density: {
|
||||
enable: true,
|
||||
value_area: 800
|
||||
}
|
||||
option = {
|
||||
backgroundColor: 'transparent',
|
||||
title: {
|
||||
text: '数据中心用铅酸电池价格趋势 (元/Wh)',
|
||||
left: 'center',
|
||||
textStyle: {
|
||||
color: '#e0e0e0',
|
||||
fontWeight: 'normal',
|
||||
fontSize: 16
|
||||
}
|
||||
},
|
||||
color: {
|
||||
value: "#ffffff"
|
||||
tooltip: {
|
||||
trigger: 'axis',
|
||||
backgroundColor: 'rgba(23, 25, 48, 0.8)',
|
||||
borderColor: 'rgba(255, 255, 255, 0.2)',
|
||||
textStyle: {
|
||||
color: '#e0e0e0'
|
||||
}
|
||||
},
|
||||
shape: {
|
||||
type: "circle"
|
||||
grid: {
|
||||
left: '3%',
|
||||
right: '4%',
|
||||
bottom: '3%',
|
||||
containLabel: true
|
||||
},
|
||||
opacity: {
|
||||
value: 0.3,
|
||||
random: true
|
||||
xAxis: {
|
||||
type: 'category',
|
||||
boundaryGap: false,
|
||||
data: ['2024 H2', '2025-01', '2025-02', '2025-03', '2025-04', '2025-05', '预期'],
|
||||
axisLine: { lineStyle: { color: 'rgba(255, 255, 255, 0.3)' } }
|
||||
},
|
||||
size: {
|
||||
value: 3,
|
||||
random: true
|
||||
yAxis: {
|
||||
type: 'value',
|
||||
min: 0.5,
|
||||
max: 0.8,
|
||||
axisLabel: {
|
||||
formatter: '{value} 元'
|
||||
},
|
||||
axisLine: { show: true, lineStyle: { color: 'rgba(255, 255, 255, 0.3)' } },
|
||||
splitLine: { lineStyle: { color: 'rgba(255, 255, 255, 0.1)' } }
|
||||
},
|
||||
move: {
|
||||
enable: true,
|
||||
speed: 1,
|
||||
direction: "none",
|
||||
random: true,
|
||||
straight: false,
|
||||
out_mode: "out"
|
||||
}
|
||||
},
|
||||
interactivity: {
|
||||
detect_on: "canvas",
|
||||
events: {
|
||||
onhover: {
|
||||
enable: true,
|
||||
mode: "repulse"
|
||||
}
|
||||
}
|
||||
},
|
||||
retina_detect: true
|
||||
});
|
||||
</script>
|
||||
series: [
|
||||
{
|
||||
name: '含税单价',
|
||||
type: 'line',
|
||||
smooth: true,
|
||||
symbol: 'circle',
|
||||
symbolSize: 8,
|
||||
data: [0.55, 0.6, 0.62, 0.68, 0.7, 0.72, 0.75],
|
||||
itemStyle: {
|
||||
color: '#3b82f6'
|
||||
},
|
||||
lineStyle: {
|
||||
width: 3,
|
||||
color: new echarts.graphic.LinearGradient(0, 0, 0, 1, [
|
||||
{ offset: 0, color: '#60a5fa' },
|
||||
{ offset: 1, color: '#3b82f6' }
|
||||
]),
|
||||
shadowColor: 'rgba(59, 130, 246, 0.5)',
|
||||
shadowBlur: 10
|
||||
},
|
||||
areaStyle: {
|
||||
color: new echarts.graphic.LinearGradient(0, 0, 0, 1, [
|
||||
{
|
||||
offset: 0,
|
||||
color: 'rgba(59, 130, 246, 0.3)'
|
||||
},
|
||||
{
|
||||
offset: 1,
|
||||
color: 'rgba(59, 130, 246, 0)'
|
||||
}
|
||||
])
|
||||
},
|
||||
markPoint: {
|
||||
data: [
|
||||
{ type: 'max', name: '当前高点' },
|
||||
],
|
||||
symbolSize: 60,
|
||||
label: {
|
||||
fontSize: 12
|
||||
}
|
||||
},
|
||||
markLine: {
|
||||
silent: true,
|
||||
data: [
|
||||
{ yAxis: 0.7, name: '价格突破点' }
|
||||
],
|
||||
label: {
|
||||
formatter: '突破0.7元/Wh'
|
||||
},
|
||||
lineStyle: {
|
||||
color: '#facc15'
|
||||
}
|
||||
}
|
||||
}
|
||||
]
|
||||
};
|
||||
|
||||
option && myChart.setOption(option);
|
||||
window.addEventListener('resize', myChart.resize);
|
||||
</script>
|
||||
|
||||
</body>
|
||||
</html>
|
||||
```
|
||||
</html>
|
||||
Reference in New Issue
Block a user