广发证券：宁德时代(300750.SZ)产能利用率历史高位锂电设备需求迫切

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智通财经APP获悉，广发证券发布研报称，随着锂电周期底部拐点确认、下游头部电池厂商扩产意愿强烈的背景下，看好锂电设备在新一轮周期的增长潜力。建议关注：（1）具备整线交付能力的设备厂商（2）受益于固态、干法电极工艺的增量设备厂商。广发证券主要观点如下：宁德时代产能利用率创历史新高，扩产需求急切根据宁德时代25年年报，截至2025 年末，宁德时代(300750.SZ)电池总产能为772GWh，产量为...

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href=http://www.zhitongcaijing.com/content/detail/1412483.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，广发证券发布研报称，随着锂电周期底部拐点确认、下游头部电池厂商扩产意愿强烈的背景下，看好锂电设备在新一轮周期的增长潜力。建议关注：（1）具备整线交付能力的设备厂商（2）受益于固态、干法电极工艺的增量设备厂商。广发证券主要观点如下：宁德时代产能利用率创历史新高，扩产需求急切根据宁德时代25年年报，截至2025 年末，宁德时代(300750.SZ)电池总产能为772GWh，产量为...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1412483.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1051769294.HKD","symbol_name":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) 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日投资者关系记录表，2025 年在市场需求强劲的大背景下，公司因短期产能不足已经导致部分订单外溢。在下游电池厂商设备更新+扩产需求紧迫的背景下，锂电设备厂商有望充分受益于新一轮产能扩张周期。动力+储能需求双轮驱动，长期支撑锂电池需求根据宁德时代25 年年报，公司25 年动力电池、储能电池销量分别实现同比增长41.85%和29.13%。新能源车销量持续增长、单车带电量提升叠加全球储能市场需求快速释放，液态电池需求有望持续超预期、长期有支撑。固态电池、干法电极工艺等新技术有望带来新增量（1）固态电池方面，根据Trendforce，目前主要电池厂商已经处于中试线阶段，预估2027 年至2028 年陆续进入量产阶段。固态电池作为新技术，将为整线投资及关键设备环节带来新增量。（2）干法电极方面，根据高工锂电，26 年2 月马斯克宣布实现干电极工艺的规模化生产；该工艺通过取消传统的溶剂涂布和烘干环节来简化流程、降低成本（50%以上）和能耗，有望带动前道设备迭代需求。投资建议：建议关注：（1）具备整线交付能力的设备厂商：建议关注锂电整线解决方案领先厂商如先导智能、海目星、利元亨、赢合科技等，与下游头部客户的绑定更为密切；（2）受益于固态、干法电极工艺的增量设备厂商：建议关注受益于前道干法工艺的宏工科技；受益于辊压机需求的纳科诺尔；受益于激光设备的联赢激光；受益于超声波焊接的骄成超声；以及受益于高压化成分容设备的杭可科技、华自科技等。风险提示：新能源汽车销量不及预期，锂电产能扩张节奏不及预期，固态电池技术发展不及预期，行业竞争加剧。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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广发证券：宁德时代(300750.SZ)产能利用率历史高位 锂电设备需求迫切

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广发证券：宁德时代(300750.SZ)产能利用率历史高位锂电设备需求迫切