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2020 年疫情以来首次超过 2019 年人次消费水平。以出海制造业为代表的外需，以地产和基建为代表的内需，在年初出现较明显的分化。节后开工节奏似乎比往年更慢，但同时制造业PMI出现较明显的改善，尤其是出口订单。锂电产业链需求端出现了三个积极的变化：1、三月份后锂电排产指引强劲：国内TOP3电芯企业排产同比增速均在29%以上，环比增速均在38%以上，而去年锂电产业链基本都处于去库周期。2、固态电池进展加速，金属锂负极或将给每单位容量锂电池用锂量的大幅提升（根据雅宝测算，全固态电池采用金属锂作为负极，锂单耗存在翻倍的空间）：某品牌厂商有望成为首个搭载量产固态电池的新能源汽车。电芯合作方清陶能源也公布了技术细节，续航超 1000 公里和 900V 超快充的能力。续航更长安全系数更高，固态电池性能优于传统液态锂电池。根据财联社和澎湃新闻信息，清陶能源第一代半固态电池能量密度最高达到420Wh/kg，成本与液态电池相当；第二代固态电池能量密度将达到400-500Wh/kg，成本为液态电池的 80%。而目前三元锂电池能量密度在200-300Wh/kg，更高的能量密度带来了更长的电车续航。另外由于固态电池使用不易燃的固态电解质替代了电解液，安全性也有所提高。其它头部车企纷纷跟进布局。长续航、高安全性、更短充电时间、更优循环寿命将给新能源汽车渗透率的提升添薪加柴。3、低空经济和通用人形机器人或将成为新的潜在增长点。新能源板块在低预期和低估值中枢区域，未来利空预期在风险补偿上已基本充分反应，任何边际上超预期的微小变化都可能带来一波像样的行情。智能化是建立在电动化的基石之上，锂电池的长逻辑依然没变，并且各种增量逻辑愈发清晰明朗，考虑到股价表现在过往历史上大幅领先碳酸锂价格筑底数月，看好新能源汽车上游原材料在未来的表现。","declarationDate":"2024-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:18:12.742Z","fund":{"_id":3000000005343,"stockCode":"005343","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-11-19T16:00:00.000Z","setUpScale":213555000,"market":"a","tickerId":5343,"custody":"兴业银行股份有限公司","name":"长安裕盛灵活配置混合型证券投资基金","shortName":"长安裕盛混合A","fundSecondLevel":"hybrid","__csrcFundId":4870,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:42.932Z","masterFundFlag":1,"inceptionDate":"2017-11-28T16:00:00.000Z","fundCollectionId":4000050680000,"currency":"CNY","masterFundShortName":"长安裕盛混合","pinyin":"cayslhpzhhxzqtzjj","managers":[{"stockCode":"j101019668","stockType":"fund_manager","exchange":"fm","tickerId":262511241860,"name":"张云凯"}]},"announcement":{"linkText":"长安裕盛灵活配置混合型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1073447","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec8947fea5b3eb0480f60","date":"2023-12-30T16:00:00.000Z","stockId":3000000005343,"sao":"2023年，继续坚持对新能源上游关键金属锂矿的长期看好。无论是新能源汽车在全球市场依旧巨大的渗透率空间还是生成式AI未来可能带来人形机器人等新的潜在爆发性需求，电动化都是一切可移动设备智能化的基石，而电动化的最优解决方案就是锂电池。新能源板块处于低预期和低估值中枢位置，未来利空预期在风险补偿上已基本充分反应，任何边际上超预期的微小变化都可能带来一波像样的行情。锂矿这块，澳大利亚锂矿商Core 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