东吴电新 锂电及材料26年上半年需求总结和未来展望

00:00:04欢迎接入金门财经电话会议系统，请输入参会密码并以井号键结束。您已成功加入会议。 00:00:27 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:00:52 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. 00:01:03 Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks foryour participation.The meeting is ready to start.Please remain on the line. 00:01:43 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:01:56 嗯。感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:02:34 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remain onthe line.阿弥陀佛。感谢大家参加本次会议，会议即将开始，请稍后，Thanks for yourparticipation. The meeting is ready to start. Please remain on the line. 00:03:50 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:04:15 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remain onthe line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation.The meeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remainon the line. 00:05:57 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:06:22 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:06:47 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:07:13 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:07:38 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:08:03 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remain onthe line.感谢大家参加本次会议，会议即将开始，请稍后。Thanks for your participation.The meeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将 开始，请稍后，Thanks for your participation. The meeting is ready to start. 00:09:31 Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks foryour participation. The meeting is ready to start. Please remain on the line. 00:10:10 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remain onthe line. 00:11:01 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remain onthe line. 00:11:52 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line. 00:12:17 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后。Thanks for your participation. The meeting is ready to start. Please remain onthe line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation.The meeting is ready to start. Please remain on the line. 00:13:33 感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. Themeeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation. The meeting is ready to start.Please remain onthe line.感谢大家参加本次会议，会议即将开始，请稍后，Thanks for your participation.The meeting is ready to start. Please remain on the line.感谢大家参加本次会议，会议即将 开始，请稍后，Thanks for your participation. The meeting is ready to start. Please remainon the line. 00:15:13 大家好，欢迎参加东吴电芯锂电及材料26年上半年需求总结和未来展望会议。目前所有参会者均处于静音状态，下面开始播报声明。声明播报完毕后，主持人可以直接开始发言，谢谢。 00:15:31 东吴证券研究所提醒您，本次电话会议仅面向机构投资者或受邀客户，第三方专家发言内容仅代表其个人观点。所有信息或所表述的意见均不构成对具体证券在具体价位、具体时点、具体市场表现的判断或投资建议。未经合法授权，严禁录音、转发及相关解读。涉嫌违反上述情形的，我们将保留追究法律责任的权利。感谢您给予的理解和配合，谢谢。 00:16:10 哦喂，嗯，各位投资人大家下午好啊，我是东吴证券的电信首席曾德成。那非常欢欢迎大家参加我们今天组织的这个关于锂电的，锂电和锂电材料的这个需求的总结和展望的电话会议。那我们邀请到的呢是高工锂电的研究院的啊，锂电的研究院的院长啊，于总啊，一块儿来做一个啊总结和分享哈。 00:16:32 呃，整体上呢，我们觉得锂电整个产业链的话，今年呃整体是呈现一个产销两旺啊，有些环节有些供不应求的这个状态啊。然后明年的话，我们觉得整体整个需求的增长的确定性呢也是比较强的啊。然后当然产业链端呢，可能不同的环节会有一定程度的这个扩产来满足这个啊，增量的这个啊需求吧呃。 00:16:55 然后这个因为整个产业链，我们觉得锂电其实整个需求的展望上，呃这个未来的持续性呢，啊还是比较可观的啊我们大的判断，我们是觉得动储的需求分析今年是啊35~40间啊，明年是2。15~30之间，然后后年呢在20左右，再往后呢应该在15~20之间的这个啊增长吧。所以呢其实嗯整体上还是比较好的一个啊，就大体量，然后能有持续增长的一个啊行业吧啊。 00:17:25 然后今年呢，呃公司团队的业绩也都恢复得比较好啊。然后但最近市场调整的比较多啊，我觉得可能主要还是因为这个市场风格的呃这个原因吧。 00:17:36 嗯然后目前的估值的水位呢，其实都非常之低了，就基本上今年可能在一个15到啊18倍之间吧，啊然后明年在10到十一二倍到十三四倍啊之间的这么一个市盈率水平