招商证券：锂电铜箔有望迎来分化高端铜箔国产替代加快

智通财经2025-07-28

智通财经APP获悉，招商证券发布研报称，2025年铜箔行业正迎来结构性复苏，锂电铜箔盈利改善与HVLP高端铜箔国产替代成为核心驱动力。随着AI算力需求爆发推动覆铜板升级，国内龙头厂商加速突破HVLP/DTH技术壁垒，预计该领域的国产替代有望加速。招商证券主要观点如下：铜箔行业介绍电解铜箔按应用可分为锂电铜箔与标准铜箔，其上游为阴极铜，下游主要涵盖锂电池与PCB行业。生产工艺包括溶铜、电解、表面处理...

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招商证券：锂电铜箔有望迎来分化 高端铜箔国产替代加快

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招商证券：锂电铜箔有望迎来分化高端铜箔国产替代加快