Analysis of Driving Factors for the Limit-Up of Dawei Co., Ltd. (002213.SZ) and Market Attention

Dawei Co., Ltd. (002213.SZ) hit the limit-up at the morning close on November 19, 2025, with the latest share price of 33.31 yuan, an increase of 38.20%, and a market capitalization of approximately 19.013 billion yuan [0,2]. Recently, multiple stocks in the lithium battery sector have hit the limit-up, and market enthusiasm has increased significantly [3,4]. Its limit-up is mainly driven by the superposition of multiple positive factors:

1. Sufficient Lithium Ore Reserves
   : In June 2025, the company obtained the reserve filing for the associated lithium feldspar ore in the Dachongli mining area of Guiyang County, with an ore quantity of 209.533 million tons and Li2O mineral quantity of 323,700 tons, providing core resource support for its new energy business [0,8].
2. New Energy Policy Support
   : The national “anti-involution” policy and the “15th Five-Year Plan” provide policy dividends for the lithium battery industry, promoting high-quality development of the sector [0,7].
3. Sharp Rise in Lithium Carbonate Prices
   : In 2025, the futures price of lithium carbonate exceeded 100,000 yuan per ton, hitting a new high since June 2024, driving the overall strength of the lithium battery sector [0,6].
4. Explosive Demand for AI Energy Storage
   : The annual growth rate of energy storage demand for overseas AI data centers is expected to reach 40%-50%, becoming the main driver of lithium carbonate demand growth [0,6].
5. Active Institutional Capital Participation
   : The Dragon and Tiger List on November 18 showed that institutions net bought 102 million yuan, and market attention increased significantly [0,5].
6. Dual Main Businesses Driving
   : The company’s semiconductor memory business is stable, with its LPDDR4X product passing the certification of mainstream SoC platforms, forming a synergistic effect with the lithium battery business [0].

• Triple Resonance of Resources + Policy + Demand
  : Lithium ore reserves as the foundation, policy dividends as support, and AI energy storage demand as a new growth point—these three factors jointly promote the company’s valuation increase.
• Dual Main Businesses Reduce Single Business Risk
  : The lithium battery business benefits from rising lithium carbonate prices, while the memory chip business provides stable cash flow, forming a complementary pattern.
• Institutional Capital Movements Reflect Long-Term Confidence
  : Large institutional net purchases indicate professional investors’ recognition of the company’s future development prospects.

1. Lithium Carbonate Price Fluctuation Risk
   : Lithium carbonate prices are greatly affected by supply and demand; if prices correct in the future, it may have a negative impact on the company’s performance [0,6].
2. Increased Industry Competition
   : The increased enthusiasm in the lithium battery sector may attract more participants, intensifying market competition [0,7].
3. Policy Change Risk
   : Adjustments to new energy policies may affect the development pace of the industry [0,7].

1. AI Energy Storage Market Expansion
   : The rapid growth of overseas energy storage demand provides broad market space for the company’s lithium battery business [0,6].
2. Synergistic Development of Dual Main Businesses
   : Technological breakthroughs in the memory chip business can further enhance the company’s overall competitiveness [0].
3. Value Release of Lithium Ore Resources
   : The development and utilization of the company’s lithium ore reserves are expected to improve long-term profitability [0,8].

The limit-up of Dawei Co., Ltd. (002213.SZ) is the result of the joint action of multiple positive factors, including lithium ore reserves, new energy policy support, rising lithium carbonate prices, explosive AI energy storage demand, and institutional capital participation. The company’s dual main business-driven pattern provides stability for its development; in the future, it is necessary to pay attention to the trend of lithium carbonate prices, policy changes, and the actual implementation of energy storage market demand. Investors should make rational decisions based on their own risk tolerance, the company’s fundamentals, and industry trends.