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万顺新材4080万元转让深圳宇锵51%股权聚焦电池铝箔高端化发展

2025-12-01 17:33:14 来源：北方有色网责任编辑：王欣悦

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2025年11月下旬，万顺新材发布重磅股权转让公告，其全资子公司江苏中基拟以4080万元对价，将持有的深圳宇锵51%股权转让给广西铝基产业投资基金合伙企业（以下简称“广西铝基基金”）及自然人李科。交易完成后，江苏中将彻底退出深圳宇锵股权结构，而万顺新材则通过这一精准资本运作，进一步聚焦电池铝箔主业的高端化升级路径。

交易核心要素：聚焦涂炭铝箔资产的战略剥离

此次交易的标的主体深圳宇锵，核心业务为涂炭铝箔的研发与生产。作为钠离子电池与高端锂电池的关键配套材料，涂炭铝箔通过在铝箔表面涂覆导电碳层，可显著优化电池低温性能、快充能力与循环寿命，宁德时代等头部电池企业的新一代产品中已显现其应用潜力。尽管该业务具备技术价值，但万顺新材仍选择出让控股权，核心逻辑在于契合公司2025年明确的战略重心——集中资源推进电池铝箔工艺升级与高附加值产品研发。

从交易对手方来看，广西铝基基金的参与为此次转让增添了产业协同属性。据公开信息显示，该基金是广西省级重点铝产业专项基金，总规模达40亿元，由南宁产投集团牵头设立，专注于铝精深加工、高端铝新材料等领域投资。其背后的广西铝产业集群2024年铝材产量达430.4万吨，占全国6.3%，产业根基深厚，这意味着深圳宇锵未来将获得更贴近铝产业核心区的资源支持。

行业背景：电池铝箔市场的结构性机遇与挑战

万顺新材的战略调整，与2025年电池铝箔行业的复杂格局高度相关。当前市场呈现“高端紧缺、低端过剩”的鲜明特征：一方面，新能源汽车与储能产业的爆发带动高性能电池箔需求持续增长，成为铝箔行业核心增长点；另一方面，传统铝箔产品受海外需求萎缩影响，价格承压明显，11月末12μm锂电铝箔均价已较前一日下跌20元/吨，反映出市场调整压力。

在此背景下，头部企业纷纷转向高端化突围。万顺新材自身已构建起完善的铝加工产能布局，其安徽中基基地规划电池铝箔产能17.2万吨，其中7.2万吨已投产，在建的10万吨项目预计2025年底完工，投产后将形成25.5万吨铝箔总产能。公司明确提出要扩大高附加值电池铝箔市场份额，而涂炭铝箔业务虽有前景，但需专业资源支撑，此次转让正是对“有所为有所不为”战略的践行。

战略价值：优化资源配置强化主业竞争力

此次4080万元的股权转让，对万顺新材而言绝非简单的资产处置，而是一次精准的资源重构。从短期来看，交易可快速回笼资金，优化资产负债结构，提升运营效率；从长期来看，将分散于涂炭铝箔的技术、管理资源集中到电池铝箔主业，与公司服务比亚迪、宁德时代等头部客户的战略相契合——万顺新材已向宁德时代供应锂电铝箔产品，其涂炭铝箔更具备支持10C快充的技术能力，与头部企业需求高度匹配。

行业分析指出，2025年是电池铝箔技术迭代的关键年，8μm超薄箔等新型产品将重塑行业价值体系。万顺新材剥离深圳宇锵股权后，可集中研发力量攻克这些高端技术，同时借助“铝板带-铝箔”一体化产业链优势，通过精益生产降低成本，应对当前铝箔加工费下行的行业挑战。这种聚焦战略，既符合广西铝基基金推动铝产业高端化的诉求，也为万顺新材在新能源铝箔赛道的竞争筑牢根基。

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万顺新材4080万元转让深圳宇锵51%股权 聚焦电池铝箔高端化发展

交易核心要素：聚焦涂炭铝箔资产的战略剥离

行业背景：电池铝箔市场的结构性机遇与挑战

战略价值：优化资源配置 强化主业竞争力

万顺新材4080万元转让深圳宇锵51%股权聚焦电池铝箔高端化发展

战略价值：优化资源配置强化主业竞争力