Analysis of Duofuduo's Hot Stock: Performance Surge Driven by Lithium Hexafluorophosphate Price Hike

Duofuduo (002407.SZ) made it to the hot list on November 15, 2025, with a significant increase in market attention, mainly benefiting from the superposition effect of multiple favorable factors. As a leading enterprise in China’s lithium hexafluorophosphate industry, the company is in a dual upward channel of performance and stock price.

: In the first three quarters of 2025, the company achieved revenue of 6.729 billion yuan and net profit of 78 million yuan, a year-on-year increase of 407.74%. Among them, the net profit in the third quarter increased by 157.93% year-on-year, showing a strong improvement in profitability [0]. The stock price soared from 13.65 yuan/share in early September to 38.29 yuan/share, with an increase of over 180% in three months, far exceeding the performance of the broader market in the same period [0].

:

1. Product Price Surge
   : As the core raw material for lithium battery electrolytes, lithium hexafluorophosphate prices soared from 61,000 yuan/ton at the end of September to 107,500 yuan/ton at the end of October, with a monthly increase of up to 76% [0][4]. This price surge directly improved the company’s profitability and gross margin level.

2. Business Structure Optimization
   : The company’s large cylindrical battery business performed prominently; the monthly shipment volume of “Fuxin” batteries exceeded 10 million units in August, with an expected annual shipment of 10 GWh and a target of 30 GWh in 2026 [0]. This marks a breakthrough in the company’s strategic transformation from a pure raw material supplier to extending downstream in the industry chain.

3. Favorable Policy Environment
   : The National Energy Administration issued policies on integrated development of new energy, and the explosive growth of the energy storage market drove a surge in demand for the lithium battery industry chain [0][7]. Policy dividends provide strong development momentum for the entire industry.

4. Industry Pattern Improvement
   : Insufficient elasticity on the supply side, production capacity concentrated in a few leading enterprises, and long construction cycles leading to a continued tight supply-demand balance [0][6]. This structural advantage allows leading enterprises to fully enjoy the benefits brought by price increases.

: Duofuduo is transforming from a single lithium hexafluorophosphate producer to a full industrial chain layout. The company invested 15 billion yuan to build the Fuxin battery full industrial chain project, adding 100 GWh of large cylindrical battery capacity. This strategic investment not only strengthens the company’s position in the industry chain but also improves risk resistance and profit stability [0].

: As a leading enterprise in the lithium hexafluorophosphate industry, Duofuduo has obvious advantages in technical accumulation and process optimization. Against the background of insufficient supply elasticity in the industry, technical barriers have become an important guarantee for the company to maintain high profit margins [0][4].

: With the surge in energy storage demand, the lithium battery industry chain ushered in a new growth cycle [7]. As a core material supplier in the upstream, Duofuduo will directly benefit from this trend, providing sustained momentum for the company’s performance growth.

:

• Lithium hexafluorophosphate prices remain high or continue to rise, directly improving the company’s profit level
• Rapid volume growth of large cylindrical battery business, forming new profit growth points
• Continuous explosion of the energy storage market, driving sustained growth in industry chain demand
• Completion of industrial chain integration layout, improving comprehensive competitiveness and risk resistance

:

• Product price fluctuation risk: Lithium hexafluorophosphate prices have experienced a sharp increase, with callback pressure
• Capacity expansion risk: The 15 billion yuan investment project has uncertainties in construction progress and capacity digestion
• Intensified industry competition: High profit margins may attract new entrants, intensifying industry competition
• Policy change risk: Adjustments to new energy policies may affect industry demand expectations

: Currently, lithium hexafluorophosphate prices are operating at a high level, and the company’s performance is in the release phase. In the short term (1-3 months), stock price performance will still be mainly driven by product prices and performance expectations; close attention needs to be paid to price trends and quarterly performance.

The core logic for Duofuduo becoming a hot stock is the triple drive of product price hikes + business breakthroughs + favorable policies. The company’s excellent performance of 407.74% year-on-year growth in net profit in the first three quarters of 2025 verifies the effectiveness of this logic [0].

From the industry perspective, the tight supply-demand balance of lithium hexafluorophosphate is difficult to fundamentally change in the short term, and prices are expected to remain relatively high [0][6]. The company’s 15 billion yuan industry chain investment shows the management’s confidence in future development and lays the foundation for long-term growth.

From an investment perspective, key attention should be paid to: lithium hexafluorophosphate price trends, progress of large cylindrical battery business, capacity construction progress, and quarterly performance fulfillment. These factors will determine whether the company can continue its current strong performance.