Chengfei integration first loss in 10 years On January 13, 2018, a paper announcement of Chengfei Integration(002190) provoked a thousand waves in the lithium market Chengfei integration refers to the fact that due to the sharp retreat of the National new energy vehicle subsidy, the vehicle factory passed the pressure of the reduction of subsidies to the power battery manufacturer and continued to reduce the price, resulting in the company's fourth quarter of 2017 lithium battery prices falling more than expected; The market for partial production of lithium batteries is tight, and the purchase cost has fallen less than expected; At the same time, as the price of lithium battery products dropped more than expected, the company's inventory price of lithium battery products was prepared to increase accordingly.