564 lines
42 KiB
HTML
564 lines
42 KiB
HTML
<!DOCTYPE html>
|
||
<html lang="zh-CN" data-theme="night">
|
||
<head>
|
||
<meta charset="UTF-8">
|
||
<meta name="viewport" content="width=device-width, initial-scale=1.0">
|
||
<title>电解液产业链 深度研究报告</title>
|
||
<script src="https://cdn.jsdelivr.net/npm/alpinejs@3.13.3/dist/cdn.min.js" defer></script>
|
||
<script src="https://cdn.jsdelivr.net/npm/echarts@5.4.3/dist/echarts.min.js"></script>
|
||
<link href="https://cdn.jsdelivr.net/npm/daisyui@4.4.19/dist/full.min.css" rel="stylesheet" type="text/css" />
|
||
<script src="https://cdn.tailwindcss.com"></script>
|
||
|
||
<style>
|
||
@import url('https://fonts.googleapis.com/css2?family=Rajdhani:wght@300;400;500;600;700&display=swap');
|
||
|
||
body {
|
||
font-family: 'Rajdhani', 'Microsoft YaHei', sans-serif;
|
||
background-color: #0c0a15;
|
||
background-image:
|
||
radial-gradient(ellipse at 20% 80%, rgba(108, 99, 255, 0.15) 0%, transparent 50%),
|
||
radial-gradient(ellipse at 80% 20%, rgba(255, 107, 222, 0.15) 0%, transparent 50%),
|
||
radial-gradient(ellipse at 50% 50%, rgba(99, 179, 237, 0.1) 0%, transparent 40%);
|
||
background-attachment: fixed;
|
||
color: #e0e0e0;
|
||
overflow-x: hidden;
|
||
}
|
||
|
||
.glass-card {
|
||
background: rgba(20, 18, 38, 0.5);
|
||
backdrop-filter: blur(20px);
|
||
-webkit-backdrop-filter: blur(20px);
|
||
border: 1px solid rgba(108, 99, 255, 0.2);
|
||
border-radius: 1.5rem; /* 24px */
|
||
box-shadow: 0 8px 32px 0 rgba(108, 99, 255, 0.1);
|
||
transition: all 0.3s ease;
|
||
}
|
||
|
||
.glass-card:hover {
|
||
box-shadow: 0 12px 40px 0 rgba(108, 99, 255, 0.2);
|
||
transform: translateY(-4px);
|
||
}
|
||
|
||
.bento-grid {
|
||
display: grid;
|
||
gap: 1rem;
|
||
grid-template-columns: repeat(1, 1fr);
|
||
}
|
||
|
||
@media (min-width: 1024px) {
|
||
.bento-grid {
|
||
grid-template-columns: repeat(4, 1fr);
|
||
grid-template-rows: repeat(2, auto);
|
||
}
|
||
.grid-col-span-2 {
|
||
grid-column: span 2;
|
||
}
|
||
.grid-row-span-2 {
|
||
grid-row: span 2;
|
||
}
|
||
}
|
||
|
||
h1, h2, h3 {
|
||
font-weight: 600;
|
||
letter-spacing: 0.05em;
|
||
}
|
||
|
||
h1 {
|
||
background: -webkit-linear-gradient(45deg, #a79cff, #f39dff);
|
||
-webkit-background-clip: text;
|
||
-webkit-text-fill-color: transparent;
|
||
}
|
||
|
||
.glowing-border {
|
||
position: relative;
|
||
}
|
||
.glowing-border::before {
|
||
content: '';
|
||
position: absolute;
|
||
top: 0;
|
||
left: 0;
|
||
right: 0;
|
||
bottom: 0;
|
||
border-radius: 1.5rem;
|
||
padding: 1px;
|
||
background: linear-gradient(145deg, rgba(108, 99, 255, 0.4), rgba(255, 107, 222, 0.4));
|
||
-webkit-mask:
|
||
linear-gradient(#fff 0 0) content-box,
|
||
linear-gradient(#fff 0 0);
|
||
-webkit-mask-composite: destination-out;
|
||
mask-composite: exclude;
|
||
pointer-events: none;
|
||
}
|
||
.prose-custom ul > li::before {
|
||
background-color: #a79cff;
|
||
}
|
||
</style>
|
||
</head>
|
||
<body class="min-h-screen">
|
||
<div class="container mx-auto p-4 md:p-8">
|
||
<!-- Header -->
|
||
<header class="text-center mb-12">
|
||
<h1 class="text-4xl md:text-6xl font-bold tracking-widest uppercase">Electrolyte Supply Chain</h1>
|
||
<p class="text-lg md:text-2xl text-purple-300 mt-2">电解液产业链 深度研究报告</p>
|
||
<div class="mt-4 text-xs text-gray-500">
|
||
<p>北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现</p>
|
||
<p>本报告为AI合成数据，投资需谨慎。</p>
|
||
</div>
|
||
</header>
|
||
|
||
<!-- Bento Grid Dashboard -->
|
||
<section class="mb-12">
|
||
<h2 class="text-2xl md:text-3xl font-semibold mb-6 text-fuchsia-300">数据仪表盘 | Data Dashboard</h2>
|
||
<div class="bento-grid">
|
||
<div class="glass-card glowing-border p-6 grid-col-span-2">
|
||
<h3 class="font-semibold text-xl mb-4 text-cyan-300">六氟磷酸锂 (LiPF6) 价格趋势 (万元/吨)</h3>
|
||
<div id="lipf6Chart" class="w-full h-64"></div>
|
||
</div>
|
||
<div class="glass-card glowing-border p-6 grid-col-span-2">
|
||
<h3 class="font-semibold text-xl mb-4 text-pink-300">VC 添加剂价格趋势 (万元/吨)</h3>
|
||
<div id="vcChart" class="w-full h-64"></div>
|
||
</div>
|
||
<div class="glass-card glowing-border p-6 grid-col-span-2 grid-row-span-2">
|
||
<h3 class="font-semibold text-xl mb-4 text-purple-300">核心观点摘要 | Core Insights</h3>
|
||
<div class="prose prose-sm md:prose-base prose-invert prose-custom max-w-none">
|
||
<p>电解液产业链正处于一轮由 <strong class="text-cyan-300">供给侧刚性出清</strong> 与 <strong class="text-fuchsia-300">需求侧结构性超预期</strong> 共同引爆的强景气周期。</p>
|
||
<ul>
|
||
<li><strong>驱动力:</strong> 长期亏损淘汰高成本产能，叠加储能、快充需求增量，供需天平急剧逆转。</li>
|
||
<li><strong>催化剂:</strong> 山东亘元工厂事故直接冲击VC添加剂供给，成为行情导火索。</li>
|
||
<li><strong>传导路径:</strong> 利润将从上游（添加剂、溶质）向下游（电解液成品）传导。</li>
|
||
<li><strong>投资价值:</strong> 添加剂(VC)环节供需矛盾最突出，价格弹性最大；一体化和具备成本优势的企业将最为受益。</li>
|
||
<li><strong>周期预判:</strong> 本轮景气周期具备较强持续性，预计至少持续到2026年下半年。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
<div class="glass-card glowing-border p-6 grid-col-span-2">
|
||
<h3 class="font-semibold text-xl mb-4 text-indigo-300">关键事件时间轴 | Key Events Timeline</h3>
|
||
<ul class="timeline timeline-compact timeline-vertical">
|
||
<li>
|
||
<div class="timeline-start timeline-box">2024.10.25</div>
|
||
<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="w-5 h-5 text-error"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zM8.28 7.22a.75.75 0 00-1.06 1.06L8.94 10l-1.72 1.72a.75.75 0 101.06 1.06L10 11.06l1.72 1.72a.75.75 0 101.06-1.06L11.06 10l1.72-1.72a.75.75 0 00-1.06-1.06L10 8.94 8.28 7.22z" clip-rule="evenodd" /></svg></div>
|
||
<div class="timeline-end text-left font-semibold">山东亘元事故，VC供给受冲击</div>
|
||
<hr/>
|
||
</li>
|
||
<li>
|
||
<hr/>
|
||
<div class="timeline-start timeline-box">2025.11.07</div>
|
||
<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="w-5 h-5 text-info"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm.75-11.25a.75.75 0 00-1.5 0v4.59L7.3 9.24a.75.75 0 00-1.1 1.02l3.25 3.5a.75.75 0 001.1 0l3.25-3.5a.75.75 0 10-1.1-1.02l-1.95 2.1V6.75z" clip-rule="evenodd" /></svg></div>
|
||
<div class="timeline-end text-left font-semibold">天赐材料签下巨额长单，锁量意图明显</div>
|
||
<hr/>
|
||
</li>
|
||
<li>
|
||
<hr/>
|
||
<div class="timeline-start timeline-box">2025.11.12</div>
|
||
<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="w-5 h-5 text-warning"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm-.25-1.75a.75.75 0 001.5 0V10.5a.75.75 0 00-1.5 0v5.75zM10 7a.75.75 0 110-1.5.75.75 0 010 1.5z" clip-rule="evenodd" /></svg></div>
|
||
<div class="timeline-end text-left font-semibold">价格爆发期，VC/6F出现“跳涨”</div>
|
||
<hr/>
|
||
</li>
|
||
<li>
|
||
<hr/>
|
||
<div class="timeline-start timeline-box">2025.12.01</div>
|
||
<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="w-5 h-5 text-success"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm3.857-9.809a.75.75 0 00-1.214-.882l-3.483 4.79-1.88-1.88a.75.75 0 10-1.06 1.061l2.5 2.5a.75.75 0 001.137-.089l4-5.5z" clip-rule="evenodd" /></svg></div>
|
||
<div class="timeline-end text-left font-semibold">高位确认，VC长协价超15万/吨</div>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Insight Section -->
|
||
<section class="mb-12">
|
||
<div class="glass-card glowing-border p-6 md:p-8">
|
||
<h2 class="text-2xl md:text-3xl font-semibold mb-6 text-fuchsia-300">【概念insight：电解液产业链】</h2>
|
||
<div class="prose prose-sm md:prose-base prose-invert prose-custom max-w-none space-y-6">
|
||
<h3 class="text-purple-300">0. 概念事件</h3>
|
||
<p>电解液产业链在经历了一段时期的产能过剩和价格低迷后，于2025年第四季度迎来了一次剧烈的、全方位的景气度反转。本次反转并非单一因素作用，而是一系列事件在时间轴上叠加共振的结果：</p>
|
||
<ul class="list-disc pl-5">
|
||
<li><strong>背景期 (2024年10月前):</strong> 产业链普遍处于盈利底部，二线企业普遍亏损，行业处于供给侧出清的前夜。</li>
|
||
<li><strong>催化事件 (2024年10月25日):</strong> 山东亘元工厂发生火情，作为宁德时代供应链的核心添加剂（VC/FEC）供应商（市占率30-40%），直接冲击了供给平衡。</li>
|
||
<li><strong>价格传导期 (2025年10月-11月初):</strong> 6F现货均价逼近<strong>10万元/吨</strong>，底部以来涨幅接近翻倍。天赐材料签订总量超过<strong>159.5万吨</strong>的多年长协订单，锁量意图明显。</li>
|
||
<li><strong>价格爆发期 (2025年11月12日-17日):</strong> 产业链价格进入主升浪，VC报价单日从<strong>6.5万</strong>暴涨至<strong>11万元/吨</strong>，6F报价突破<strong>15万元/吨</strong>。</li>
|
||
<li><strong>高位确认期 (2025年12月至今):</strong> VC长协订单落地价在<strong>15万元/吨</strong>以上，下游锂电池12月排产环比向上，26Q1被预期“淡季不淡”。</li>
|
||
</ul>
|
||
|
||
<h3 class="text-purple-300">1. 核心逻辑与市场认知分析</h3>
|
||
<p><strong>核心驱动力：经典的“供给出清+需求坚挺”周期反转模型</strong></p>
|
||
<ol class="list-decimal pl-5">
|
||
<li><strong>供给侧收缩是根本前提</strong>：长期价格下跌导致全产业链进入亏损或微利状态，二三线厂商低开工率甚至停产，供给弹性丧失。</li>
|
||
<li><strong>需求侧韧性是安全垫</strong>：储能市场的爆发式增长和快充技术对添加剂用量的提升，构成了超出市场预期的结构性增量。</li>
|
||
<li><strong>突发事件是催化剂</strong>：山东亘元事故直接导致占市场30-40%份额的VC产能停摆，成为引爆供需矛盾的“黑天鹅”事件。</li>
|
||
<li><strong>库存极低是放大器</strong>：下游客户的VC安全库存远低于正常水平（仅10-15天），导致在供给冲击下只能“保量不保价”。</li>
|
||
</ol>
|
||
<p><strong>预期差分析：市场认知可能存在的三个偏差</strong></p>
|
||
<ul class="list-disc pl-5">
|
||
<li><strong>对VC环节紧缺程度的认知不足</strong>：市场可能低估了VC环节的供给刚性，其工艺复杂、有效产能利用率低，复产成本高，价格弹性远超6F。</li>
|
||
<li><strong>对龙头企业一体化优势的定价不充分</strong>：如天赐材料，其成本优势在全产业链涨价时将被成倍放大，盈利能力将远超非一体化厂商。</li>
|
||
<li><strong>对EC溶剂的潜在瓶颈关注不够</strong>：EC作为VC/FEC的核心原材料，由海科新源和石大胜华双寡头垄断且暂无扩产计划，可能成为下一个供给瓶颈。</li>
|
||
</ul>
|
||
|
||
<h3 class="text-purple-300">2. 关键催化剂与未来发展路径</h3>
|
||
<ul class="list-disc pl-5">
|
||
<li><strong>近期催化剂 (未来3-6个月)</strong>: 月度长协价格落地、25Q4及26Q1业绩报告兑现、山东亘元复产进度。</li>
|
||
<li><strong>长期发展路径</strong>:
|
||
<br><strong>(2026 H1)</strong> 景气持续与利润兑现，价格高位运行。
|
||
<br><strong>(2026 H2 - 2027)</strong> 新增产能落地与供需再平衡，价格或从高位回落。
|
||
<br><strong>(长期)</strong> LiFSI等新型锂盐渗透率提升，固态电池产业化是长期最大颠覆性变量。
|
||
</li>
|
||
</ul>
|
||
|
||
<h3 class="text-purple-300">3. 产业链图谱与核心公司深度剖析</h3>
|
||
<p><strong>产业链图谱:</strong></p>
|
||
<ul class="list-disc pl-5">
|
||
<li><strong>上游 (原材料)</strong>:
|
||
<ul>
|
||
<li><strong>溶质 (锂盐)</strong>: 六氟磷酸锂 (6F), LiFSI等。核心玩家：<strong>天赐材料, 多氟多, 天际股份, 石大胜华</strong>。</li>
|
||
<li><strong>溶剂</strong>: EC, DMC, EMC等。核心玩家：<strong>海科新源, 石大胜华</strong> (双寡头)。</li>
|
||
<li><strong>添加剂</strong>: VC, FEC等。核心玩家：<strong>华盛锂电, 海科新源, 新宙邦, 孚日股份</strong>。</li>
|
||
</ul>
|
||
</li>
|
||
<li><strong>中游 (电解液成品)</strong>: 核心玩家：<strong>天赐材料 (绝对龙头), 新宙邦, 瑞泰新材, 石大胜华 (新进入者)</strong>。</li>
|
||
<li><strong>下游 (应用)</strong>: 动力电池、储能电池。代表：宁德时代、比亚迪、中创新航。</li>
|
||
</ul>
|
||
<p><strong>核心玩家对比:</strong></p>
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra table-sm">
|
||
<thead>
|
||
<tr>
|
||
<th>公司</th>
|
||
<th>定位</th>
|
||
<th>核心优势</th>
|
||
<th>潜在风险/短板</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td><strong>天赐材料</strong></td>
|
||
<td>领导者</td>
|
||
<td>绝对龙头，一体化最完善，成本控制最强</td>
|
||
<td>VC产能可能是相对薄弱环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>华盛锂电</strong></td>
|
||
<td>弹性追赶者</td>
|
||
<td>A股最纯粹VC龙头，产能弹性最大，业绩弹性惊人</td>
|
||
<td>产品结构单一，周期性风险大，产能数据有矛盾</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>石大胜华</strong></td>
|
||
<td>双核驱动者</td>
|
||
<td>全球溶剂龙头，EC双寡头之一，“溶剂+溶质”双轮驱动</td>
|
||
<td>电解液业务是新进入者，待验证</td>
|
||
</tr>
|
||
<tr>
|
||
<td><strong>新宙邦</strong></td>
|
||
<td>稳健整合者</td>
|
||
<td>老牌劲旅，客户优质，海外布局领先，正补齐6F短板</td>
|
||
<td>一体化程度和成本控制弱于天赐</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Data Deep Dive -->
|
||
<section class="mb-12" x-data="{ tab: 'news' }">
|
||
<h2 class="text-2xl md:text-3xl font-semibold mb-6 text-fuchsia-300">数据深潜 | Data Deep Dive</h2>
|
||
<div class="tabs tabs-boxed bg-base-300/50 mb-4">
|
||
<a class="tab" :class="{ 'tab-active': tab === 'news' }" @click="tab = 'news'">新闻数据</a>
|
||
<a class="tab" :class="{ 'tab-active': tab === 'roadshow' }" @click="tab = 'roadshow'">路演纪要</a>
|
||
<a class="tab" :class="{ 'tab-active': tab === 'research' }" @click="tab = 'research'">研报精粹</a>
|
||
<a class="tab" :class="{ 'tab-active': tab === 'rise' }" @click="tab = 'rise'">涨幅异动解析</a>
|
||
</div>
|
||
|
||
<div class="glass-card glowing-border p-6 md:p-8 min-h-[400px]">
|
||
<!-- News Data -->
|
||
<div x-show="tab === 'news'" x-transition>
|
||
<div class="join join-vertical w-full">
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="news-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">产业链整体趋势与市场分析</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p>电解液报价开始如期传导，上周2天涨幅超过过去2个月。锂电12月排产环比普遍向上、26Q1淡季不淡，储能需求景气持续超预期。2026 年电解液/六氟磷酸锂供需将改善。投资角度：VC可能优于6f优于其它。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="news-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">六氟磷酸锂 (6F)</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p>价格从9月初的5.7万元/吨上涨至12月的15.8万元/吨。供给端天赐、多氟多、天际CR3为80-85%，集中度高，二三线厂持续出清。需求端26年受储能拉动有望增长超30%。行业担心六氟出现紧缺，导致保供风险。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="news-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">溶剂</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p>EC双寡头海科新源、石大胜华市占率80%且暂无扩产计划。EC价格从底部4650元/吨上涨至6400元/吨以上。EC是VC主要原材料，26年供应可能吃紧。华鲁恒升DMC装置检修加剧供给紧张。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="news-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">添加剂</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p>VC价格从8月低点4.6万元/吨跳涨至12月成交均价17万元/吨。山东亘元事故（市占率30-40%）是核心催化剂。下游客户几乎没有安全库存（仅10-15天），对价格敏感度低，保量优先。</p></div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Roadshow Data -->
|
||
<div x-show="tab === 'roadshow'" x-transition>
|
||
<div class="join join-vertical w-full">
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="roadshow-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-pink-300">电解液 (成品)</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p><strong>石大胜华:</strong> 26年规划20万吨以上，客户以宁德时代为主(70-80%)。<strong>天赐材料:</strong> 25E出货100万吨，全球市占率35-40%，自供率高，毛利率显著优于竞品。行业竞争激烈，盈利微薄，价格与上游成本联动。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="roadshow-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-pink-300">六氟磷酸锂 (LiPF6)</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p><strong>价格与盈利:</strong> 散单报价已升至8万元/吨，管理层判断“突破10万可能性很大”。头部企业（天赐、多氟多、天际）达成“默契”，在不过度紧缺前不会满产。<strong>供需:</strong> 行业库存9月已降至零，26H1新增供给有限，六氟缺口将继续扩大。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="roadshow-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-pink-300">添加剂 (VC/LiFSI)</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p><strong>价格:</strong> VC/FEC散单2日内跳涨6-7万元/吨。<strong>供需:</strong> 山东某公司爆炸事件导致VC行业供应紧张。储能280→320Ah升级、动力快充电池推动VC添加比例由2%提至3.3-4%。高端VC/FEC偏紧。<strong>孚日股份:</strong> VC价格4.51万元/吨时全行业亏损，满产下成本可降至3.2-3.5万元/吨。</p></div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Research Data -->
|
||
<div x-show="tab === 'research'" x-transition>
|
||
<div class="join join-vertical w-full">
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="research-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-purple-300">市场现状与价格走势</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p>电解液产业链呈现量价齐升态势，成为锂电板块核心亮点。价格企稳回升，部分环节如碳酸锂、六氟磷酸锂、电解液需求强劲，供给偏紧。六氟磷酸锂报价18.00万元/吨，年初至今涨幅188%，创历史新高。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="research-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-purple-300">供需格局与预测</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p><strong>需求端:</strong> 下游新能源汽车及储能需求持续强劲。<strong>供给端:</strong> 行业协会与头部企业主动收缩资本开支，优化产能节奏，供需结构边际改善。<strong>预测:</strong> 2024-2025年电解液需求复合增速为22%，新型锂盐LiFSI需求复合增速为34%。</p></div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="research-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-purple-300">重点企业动态</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none"><p><strong>新宙邦:</strong> 拟增资江西石磊氟材料，实现全产业链布局。<strong>瑞泰新材:</strong> 与天际股份联合增资泰瑞联腾，完善六氟磷酸锂布局。<strong>天赐材料:</strong> 构建硫-氟-氯三大循环体系，成本优势显著。</p></div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Rise Analysis -->
|
||
<div x-show="tab === 'rise'" x-transition>
|
||
<div class="join join-vertical w-full">
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="rise-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-indigo-300">石大胜华 (603026) - 2025.11.14 涨幅10.0%</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none">
|
||
<p><strong>核心结论:</strong> 电解液三大核心材料（6F、VC、溶剂）三天内同步跳涨，石大胜华因“溶剂+添加剂”双龙头产能最大、价格弹性最高，资金一次性定价其 Q4 环比扭亏路径。</p>
|
||
<p><strong>异动解析:</strong> 6F报价12.85→15万，VC散单6.5→12-16万，公司拥有A股最大产能。2025-11-13龙虎榜显示三家机构席位净买入1.84亿元，杠杆资金与机构同步回补。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-indigo-300">野马电池 (605378) - 2025.11.13 涨幅10.0%</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none">
|
||
<p><strong>核心结论:</strong> LiFSI项目通过考核并获宁德、亿纬认可，叠加工信部新规抬高准入门槛，机构测算2026年业绩弹性>4倍，小市值引爆涨停。</p>
|
||
<p><strong>异动解析:</strong> 公司1.5万吨LiFSI即将于Q4试产，机构按2.5-3万元/吨净利测算，对应新增利润3.5-4.5亿元（24年净利0.9亿）。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-arrow join-item border border-base-300">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-indigo-300">康鹏科技 (688602) - 2025.11.13 涨幅20.02%</div>
|
||
<div class="collapse-content prose prose-sm md:prose-base prose-invert prose-custom max-w-none">
|
||
<p><strong>核心结论:</strong> 六氟价格半月翻倍→LiFSI同步跟涨→康鹏科技（全球外供市占第一）单吨净利弹性被资金重新定价。</p>
|
||
<p><strong>异动解析:</strong> LiFSI报价跳涨至32-35万元/吨，与6F价格联动放大盈利弹性。2025世界动力电池大会将“高镍+硅碳+LiFSI”写入官方技术路线，提升远期需求预期。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Stock List -->
|
||
<section>
|
||
<h2 class="text-2xl md:text-3xl font-semibold mb-6 text-fuchsia-300">产业链核心标的 | Core Stocks</h2>
|
||
<div class="glass-card glowing-border p-4 md:p-6">
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra table-sm md:table-md">
|
||
<thead class="text-base text-purple-300">
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>产业链环节</th>
|
||
<th>细分领域 / 标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody id="stock-table-body">
|
||
<!-- JS will populate this -->
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
</div>
|
||
|
||
<script>
|
||
// ECharts Initialization
|
||
document.addEventListener('DOMContentLoaded', function () {
|
||
// LiPF6 Chart
|
||
var lipf6Chart = echarts.init(document.getElementById('lipf6Chart'));
|
||
var lipf6Option = {
|
||
tooltip: { trigger: 'axis', backgroundColor: 'rgba(20, 18, 38, 0.8)', borderColor: '#6c63ff', textStyle: { color: '#e0e0e0' } },
|
||
xAxis: { type: 'category', data: ['7月22日', '9月初', '10月28日', '11月7日', '11月12日', '11月13日', '12月3日'], axisLine: { lineStyle: { color: 'rgba(255,255,255,0.3)' } } },
|
||
yAxis: { type: 'value', name: '万元/吨', splitLine: { lineStyle: { color: 'rgba(255,255,255,0.1)' } }, axisLine: { lineStyle: { color: 'rgba(255,255,255,0.3)' } } },
|
||
grid: { left: '3%', right: '4%', bottom: '3%', containLabel: true },
|
||
series: [{
|
||
data: [4.9, 5.7, 10, 12, 12.6, 15.15, 15.8],
|
||
type: 'line',
|
||
smooth: true,
|
||
symbol: 'circle',
|
||
symbolSize: 8,
|
||
itemStyle: { color: '#63e2b7' },
|
||
lineStyle: {
|
||
color: new echarts.graphic.LinearGradient(0, 0, 1, 0, [
|
||
{ offset: 0, color: '#86efac' },
|
||
{ offset: 1, color: '#38bdf8' }
|
||
]),
|
||
width: 3,
|
||
shadowColor: 'rgba(99, 226, 183, 0.5)',
|
||
shadowBlur: 10
|
||
}
|
||
}]
|
||
};
|
||
lipf6Chart.setOption(lipf6Option);
|
||
|
||
// VC Chart
|
||
var vcChart = echarts.init(document.getElementById('vcChart'));
|
||
var vcOption = {
|
||
tooltip: { trigger: 'axis', backgroundColor: 'rgba(20, 18, 38, 0.8)', borderColor: '#f472b6', textStyle: { color: '#e0e0e0' } },
|
||
xAxis: { type: 'category', data: ['8月25日', '11月12日', '11月13日', '11月17日', '12月1日'], axisLine: { lineStyle: { color: 'rgba(255,255,255,0.3)' } } },
|
||
yAxis: { type: 'value', name: '万元/吨', splitLine: { lineStyle: { lineStyle: { color: 'rgba(255,255,255,0.1)' } } }, axisLine: { lineStyle: { color: 'rgba(255,255,255,0.3)' } } },
|
||
grid: { left: '3%', right: '4%', bottom: '3%', containLabel: true },
|
||
series: [{
|
||
data: [4.6, 11, 14, 13.2, 17], // Using 13.2 for 11/17 as (4.6 * (1+1.88))
|
||
type: 'line',
|
||
smooth: true,
|
||
symbol: 'circle',
|
||
symbolSize: 8,
|
||
itemStyle: { color: '#f472b6' },
|
||
lineStyle: {
|
||
color: new echarts.graphic.LinearGradient(0, 0, 1, 0, [
|
||
{ offset: 0, color: '#f9a8d4' },
|
||
{ offset: 1, color: '#c084fc' }
|
||
]),
|
||
width: 3,
|
||
shadowColor: 'rgba(244, 114, 182, 0.5)',
|
||
shadowBlur: 10
|
||
}
|
||
}]
|
||
};
|
||
vcChart.setOption(vcOption);
|
||
|
||
window.addEventListener('resize', function() {
|
||
lipf6Chart.resize();
|
||
vcChart.resize();
|
||
});
|
||
|
||
// Stock Table Population
|
||
const stockData = {
|
||
"溶质": [
|
||
{"stock": "天赐材料", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "002709"},
|
||
{"stock": "永太科技", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "002326"},
|
||
{"stock": "天际股份", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "002759"},
|
||
{"stock": "多氟多", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "002407"},
|
||
{"stock": "胜华新材", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "603026"}, // Assume code from rise analysis
|
||
{"stock": "三美股份", "reason": "溶质", "其他标签": "常规锂盐, 六氟磷酸锂", "stock_code": "603379"},
|
||
{"stock": "川恒股份", "reason": "溶质", "其他标签": "常规锂盐, 四氟硼酸锂", "stock_code": "002895"},
|
||
{"stock": "天域生态", "reason": "溶质", "其他标签": "常规锂盐, 四氟硼酸锂", "stock_code": null},
|
||
{"stock": "深圳新星", "reason": "溶质", "其他标签": "常规锂盐, 四氟硼酸锂", "stock_code": "603978"},
|
||
{"stock": "昊华科技", "reason": "溶质", "其他标签": "常规锂盐, 四氟硼酸锂", "stock_code": "600378"},
|
||
{"stock": "利民股份", "reason": "溶质", "其他标签": "常规锂盐, 四氟硼酸锂", "stock_code": "002734"},
|
||
{"stock": "天赐材料", "reason": "溶质", "其他标签": "新型锂盐, LiFSI, LiDFOB", "stock_code": "002709"},
|
||
{"stock": "永太科技", "reason": "溶质", "其他标签": "新型锂盐, LiFSI, LiDFOB", "stock_code": "002326"},
|
||
{"stock": "维远股份", "reason": "溶质", "其他标签": "新型锂盐, LiFSI, LiDFOB", "stock_code": "600955"},
|
||
{"stock": "东华科技", "reason": "溶质", "其他标签": "新型锂盐, LiTFSI, LiBOB等", "stock_code": "002140"},
|
||
{"stock": "金石资源", "reason": "溶质", "其他标签": "新型锂盐, LiTFSI, LiBOB等", "stock_code": "603505"}
|
||
],
|
||
"溶剂": [
|
||
{"stock": "胜华新材", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "603026"},
|
||
{"stock": "华盛锂电", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "688353"},
|
||
{"stock": "新宙邦", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "300037"},
|
||
{"stock": "天赐材料", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "002709"},
|
||
{"stock": "永太科技", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "002326"},
|
||
{"stock": "维远股份", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "600955"},
|
||
{"stock": "海科新源", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "301292"},
|
||
{"stock": "联泓新科", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "003022"},
|
||
{"stock": "怡达股份", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "300721"},
|
||
{"stock": "奥克股份", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "300082"},
|
||
{"stock": "卫星化学", "reason": "溶剂", "其他标签": "EC, PC, DEC, DMC, BMC等", "stock_code": "002648"}
|
||
],
|
||
"添加剂": [
|
||
{"stock": "联创股份", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": null},
|
||
{"stock": "永太科技", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "002326"},
|
||
{"stock": "新宙邦", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "300037"},
|
||
{"stock": "富祥药业", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "300497"},
|
||
{"stock": "海科新源", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "301292"},
|
||
{"stock": "瑞泰新材", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "301238"},
|
||
{"stock": "胜华新材", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "603026"},
|
||
{"stock": "恒兴新材", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "603276"},
|
||
{"stock": "海辰药业", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "300584"},
|
||
{"stock": "冠城大通", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": null},
|
||
{"stock": "华盛锂电", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "688353"},
|
||
{"stock": "孚日股份", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "002083"},
|
||
{"stock": "奥克股份", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "300082"},
|
||
{"stock": "新亚强", "reason": "添加剂", "其他标签": "导电添加剂, 阻燃添加剂, 成膜添加剂, 其它添加剂", "stock_code": "603155"}
|
||
],
|
||
"电解液": [
|
||
{"stock": "丰山集团", "reason": "电解液", "stock_code": "603810", "其他标签": "电解液"},
|
||
{"stock": "兴欣新材", "reason": "电解液", "stock_code": "001358", "其他标签": "电解液"},
|
||
{"stock": "鹏辉能源", "reason": "电解液", "stock_code": "300438", "其他标签": "电解液"},
|
||
{"stock": "天赐材料", "reason": "电解液", "stock_code": "002709", "其他标签": "电解液"},
|
||
{"stock": "新宙邦", "reason": "电解液", "stock_code": "300037", "其他标签": "电解液"},
|
||
{"stock": "杉杉股份", "reason": "电解液", "stock_code": "600884", "其他标签": "电解液"},
|
||
{"stock": "比亚迪", "reason": "电解液", "stock_code": "002594", "其他标签": "电解液"},
|
||
{"stock": "江苏国泰", "reason": "电解液", "stock_code": "002091", "其他标签": "电解液"}
|
||
]
|
||
};
|
||
|
||
const tableBody = document.getElementById('stock-table-body');
|
||
const categories = ['溶质', '溶剂', '添加剂', '电解液'];
|
||
|
||
categories.forEach(category => {
|
||
const stocks = stockData[category] || [];
|
||
const uniqueStocks = Array.from(new Map(stocks.map(item => [item.stock, item])).values());
|
||
|
||
uniqueStocks.forEach(item => {
|
||
const row = document.createElement('tr');
|
||
|
||
const cellName = document.createElement('td');
|
||
cellName.textContent = item.stock;
|
||
row.appendChild(cellName);
|
||
|
||
const cellCode = document.createElement('td');
|
||
if (item.stock_code) {
|
||
const link = document.createElement('a');
|
||
link.href = `https://valuefrontier.cn/company?scode=${item.stock_code}`;
|
||
link.textContent = item.stock_code;
|
||
link.target = "_blank";
|
||
link.className = "link link-hover text-cyan-400";
|
||
cellCode.appendChild(link);
|
||
} else {
|
||
cellCode.textContent = 'N/A';
|
||
}
|
||
row.appendChild(cellCode);
|
||
|
||
const cellReason = document.createElement('td');
|
||
cellReason.textContent = item.reason;
|
||
row.appendChild(cellReason);
|
||
|
||
const cellTags = document.createElement('td');
|
||
cellTags.textContent = item['其他标签'] || 'N/A';
|
||
row.appendChild(cellTags);
|
||
|
||
tableBody.appendChild(row);
|
||
});
|
||
});
|
||
});
|
||
</script>
|
||
</body>
|
||
</html> |