但它很难挡住一件事: 中国拥有全球最大的半导体市场,拥有越来越多晶圆厂,拥有庞大的工程师群体,也拥有一批已经学会在封锁中成长的企业。
1、亚娱体育 16次传球完成12次,唯一一次传中没有找到队友。
这位18岁的希腊攻击手本赛季在比甲联赛送出16次助攻,另有3粒进球,展现出远超同龄人的传球视野与创造力。亚娱体育” 因此,在杨晓煜看来,两点并不矛盾,“我们有AI能力,有服务能力,可以向前端获客视角延伸。
2、金靴之争也是金球之争!凯恩与哈兰德明晨五点将直接对话!
尽管同胞主帅的到来给留队增加了变数,但从目前形势看,莱奥夏窗离队依然是更大概率的结果。

3、8年狂赚4600万!曝上海男篮4年顶薪续约张镇麟,堪称今夏大赢家
不过葡萄牙破密集防守的能力存疑,如果久攻不下也存在被反击偷一个的可能。
4、伊姐周日热推:电视剧《冬去春来》;电视剧《你是迟来的欢喜》......
耐克大中华区副总裁兼总经理 Cathy Sparks 透露,自明年1月起,中国内地的主力运动零售商将全面停止线上耐克鞋服产品销售,转而专注线下门店经营。
5、株百店庆狂欢周来了!
7月19日晚,Kimi官方称「收获了远超预期的支持,但也面临始料未及的算力挑战」,暂停了C端新用户订阅。
翻开Play Time的公开投资组合会发现,这家机构的野心远不止一笔投资。
运营商正在经历角色变化,过去,客户租用的是服务器、存储和带宽;现在,越来越多企业希望直接获得模型调用能力,或按照 Token 购买服务。
6、32家银行上榜《财富》中国500强,工商银行位列第六
尽管阿根廷国内有报道称他已口头同意带队至2030年世界杯。
无论是场上的针锋相对,还是场下的惺惺相惜,都让本赛季的中超联赛增添了更多人情味与看点。
7、全新奔驰S级实车,德国总理试乘,你爱不爱?
主裁判随即改判,取消了帕雷德斯的黄牌,并向恩博洛出示第二张黄牌。
6月1日Agnes AI上线了API Platform。
8、“卷” 在职场,伤了血糖:糖尿病的温床,你我都在其中
2024年10月24日,MaskGCT通过Amphion系统正式面向全球开源。
翻开Play Time的公开投资组合会发现,这家机构的野心远不止一笔投资。
从阵容纸面实力来看,两队各有千秋。
9、癌细胞的动静,血液半年前就知道了!
滔博告别传统渠道时代 面临严峻考验的,不仅仅是耐克。
此消息一出,作为耐克在中国内地最大的经销商,滔搏股价应声下跌超20%。
10、颠覆认知!超30分钟就算久坐!研究发现:多坐1小时癌症死亡风险上升9%
送走一位顶薪球员的工资负担,有助于加泰罗尼亚俱乐部应对西甲严格的财政公平法案及工资帽限制。
展期将举办 80 余场专业论坛与互动活动。
1、柴油版北京BJ40俄罗斯售价公布,约人民币34.7万起,竞争坦克300
联合利华第二次重磅亮相,重点展示了AI赋能包装创新的最新成果“AI for Packaging”。
2、直播领域AI具身机器人落户哈尔滨
如果加拿大无法在前场形成有效逼抢,很可能陷入被动挨打的局面。
3、厂里办起托管班!员工上班带娃两不误~
当前米兰的阵容中最缺的就是中锋,这对于卡马尔达和科斯蒂奇来说既是机遇又是挑战。带伞!带伞!阵雨、雷雨要来了我们从小一起长大,如今能共同享受这些时刻,这种体验无与伦比。
4、新款迈巴赫S 580 e官图,高端插混轿车,会引入国内
消息迅速发酵,“世界模型第一股”“年内赴港IPO”等说法接踵而来。
5、杨瀚森新赛季能有多少上场时间?球迷调查出炉:仅14%看好他进轮换
图:替尔泊肽销售一览 从2022年获批上市到问鼎“药王”,替尔泊肽仅用了不到四年。
6、当“朋友圈”遇见“平安圈”,这位90后民警社区治理“有把刷子”
随着穆里尼奥重返皇马执教、贝尔纳多·席尔瓦加盟、奥利塞也在引援名单上,18岁的马斯坦托诺已不在穆帅新赛季计划内。
资金不足加之多特步步为营,米兰距离签下卡雷察斯愈发遥远,他们也在寻找备选目标。
因为在大多数人的经验里,实习等于"打杂 + 补贴几百块",能开个实习证明就谢天谢地。
7、8人用餐要收22套餐具费?西安莲湖区市监局:已立案查处_网易订阅
"正是这种心态,让他打进了那个为我们赢得世界杯的进球。
第一重压力是生产力场景未必壁垒更高。
8、医生提醒:这3种慢性炎症别拖,久了可能引发癌变
奥地利则是典型的朗尼克式高压足球,主打4-2-3-1阵型,核心战术是极致的高位逼抢和快速攻防转换。
程越把自己描述为被卷进这场竞赛的人,而不是主动参与者,“不抢人,马上死,抢了人如果烧不出量产数据,也不一定能活。
「 LABUBU摇摇德比大赛马」的竞技模式需要12人一组,在等待的过程中,很难忍住不主动招揽路过的游客一起参与;「弹珠奇遇记」的游戏区和等候区都挂设了屏幕,大多数游客排队时都会抬头关注屏幕里正在实时直播弹珠竞跑比赛,气氛就像是在酒吧里一起看球赛;而无论是鲨鱼LABUBU,还是炸虾LABUBU,作为奖励的巨大毛绒玩偶既是一种褒奖,也是乐园里最好的气氛来源。
当时的福布斯2018富豪榜显示,马云身家390亿美元,张近东58亿美元,两人总财富折合人民币近3000亿元。
用户二十四节气 为深南电路:2026年一季度,受益于算力升级及存储市场需求,公司封装基板业务收入占比环比提升赠送反差!21岁成名,32岁退役,球员时代是玻璃人,退役后是全民公敌刷屏热搜的“养龙虾”,到底是啥?
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用户引诱未成年人无证驾驶,出事后再“私了”?上海警方捣毁一碰瓷团伙 为NBA四个赛季净多1662次罚球!湖人是真能造犯规 还是真有人护着?赠送中国代表强调和平解决争端是联合国会员国宪章义务人气票
用户小虫大有可为! 为零跑B10在巴黎车展隆重亮相,明年全球上市,与比亚迪Atto3竞争赠送身价仅安德森一半!曼联追德甲铁闸,出自曼城青训,英超5队哄抢点赞最棒
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用户5000 万新援首秀惊艳!曼联再挖 6900 万全能巨星,全面升级阵容 为唯一!恭喜无锡张一藩同学赠送从检查到复查消防控制室均无人值�...人气票
用户莱奥:我曾拒绝国米的邀约,尽管当时去那里能踢欧冠 为又一医药学院要更名大学,旗下6所三甲医院!赠送避坑小贴士!剂量、时机和配伍——这三条“用药红线”千万别踩了人气票
用户成熟了?足协杯赛后韦世豪与对手爆发口角,此前曾多次在场上爆粗 为正式官宣!34岁昔日欧冠冠军中场加盟,梅西迎来新赛季帮手赠送下届信你了!EA赛前预测西班牙夺冠,连续五届世界杯预测成功人气票
德尚认为,西班牙对传球路线的预判和拦截能力,是法国队无法建立进攻节奏的关键原因。我要发布>>
考虑到双方防守都很出色,常规时间可能难分高下,平局的可能性不小。我要发布>>
这意味着,企业要付出更多努力,在充分尊重其直觉的前提下,防止自负的核心人物犯错。我要发布>>
随着重建的推进,红鸟老板和他的顾问伊布似乎产生了重大分歧。我要发布>>
不过这支摩洛哥队与四年前相比已经有了很大变化,阵容更替率超过70%,但球队的防守基因和战术纪律得到了很好的传承,整体实力有增无减。我要发布>>
其中提出,鼓励发展Token(词元)经济。我要发布>>
本质上是学术基准测试,以仿真环境为主,并不能完全等同于真实工厂或家庭里的表现。我要发布>>
这让米兰和经纪人门德斯在运作其转会时面临复杂局面。我要发布>>
Nexfin News — China’s lithium battery industry is undergoing a rite of passage, transitioning from wild expansion to disciplined competition. In the first half of the year, a rare divergence between surging corporate earnings and falling stock prices brought a permanent shift in the sector’s underlying dynamics into sharp focus. By mid-July, A-share lithium battery stocks pulled back despite dramatic midyear earnings forecasts. Tianqi Lithium projected net profit growth of up to 4,935% year-over-year, EVE Energy forecast a 95% to 110% increase, and both Sunwoda and REPT BATTERO turned profitable again. Across the supply chain—from upstream lithium salts to downstream battery makers—most companies reported substantial operational gains. Yet robust earnings failed to stop equity valuations from sliding. On July 8, Chengxin Lithium hit its daily downside limit, Yahua Group dropped over 15%, and Tinci Materials saw more than 30 billion yuan in market value evaporate within a week. Ganfeng Lithium has fallen roughly 38% from its peak, while market leader CATL is down about 20%. The immediate trigger for the selloff was the resumption of operations at CATL’s Jianxiawo lithium mine. On June 29, the mine secured its safety production permit, which was officially posted on the Credit China website on July 7. The site—the world’s largest single lepidolite mine—had been idle for over ten months. With an annual capacity of roughly 100,000 metric tons of lithium carbonate, it previously accounted for 8% to 10% of China’s total output. Its return brings over 45,000 tons of additional supply in the second half of the year, hitting elevated lithium prices head-on. Futures markets reacted instantly: on June 18, as restart speculation grew, the main lithium carbonate contract fell 6.58% in a single session, beginning a steady slide from its May high of 205,000 yuan per ton. This stark contrast between thriving industrial output and falling stock prices coincided on the surface with lithium carbonate pulling back rapidly from its May peak of 200,000 yuan per ton to 151,000 yuan. But a more critical question remains: is this the sign of a cyclical peak, or is the industry undergoing a profound revaluation? Answering that requires stepping back to examine the paradigm shift that unfolded across the lithium battery sector between 2025 and 2026. The essence of this shift is not the fluctuation of any single price signal, but a permanent realignment of the industry's competitive playbook—moving from "who expands the fastest" to "who possesses technology, steady profits, and global compliance capabilities." From 60,000 to 200,000 In late June 2025, battery-grade lithium carbonate dropped below 60,000 yuan per ton, touching a three-year low of 59,900 yuan. Lithium salt producers across the sector incurred heavy losses, forcing widespread shutdowns among small and medium-sized manufacturers. From Australian hard-rock mines and small African projects to domestic lepidolite producers, virtually all marginal capacity went offline that summer. A two-and-a-half-year price slump accomplished its single necessary function: clearing out excess supply. By the fourth quarter of 2025, supply and demand dynamics reversed faster than the market had anticipated. The initial spark came from energy storage demand. Data from research firms including InfoLink show that global energy storage cell shipments reached roughly 610 GWh in 2025, up over 90% year-over-year, with fourth-quarter volumes alone topping 200 GWh. Production schedules showed energy storage cells clearing lithium carbonate inventories at an accelerating quarter-over-quarter pace. As growth in electric vehicle batteries moderated, energy storage stepped in not just to absorb excess capacity, but as the industry's primary growth engine. Surging demand was only half the story; supply contracted just as sharply. Small African mines and high-cost domestic lepidolite operations exited the market. Meanwhile, Zimbabwe announced a temporary suspension of lithium concentrate exports in February—a country that accounted for 15.5% of China’s lithium concentrate imports in 2025. Although Australia remained the primary pillar of China's upstream raw material supply at over 50%, the policy further tightened market expectations surrounding upstream supply. Zimbabwe's Ministry of Mines later confirmed that a formal export ban would take effect in January 2027. The tension between supply and demand peaked with the onset of a structural global deficit. Morgan Stanley estimated in early 2026 that the global market would face a shortfall of roughly 100,000 metric tons of lithium carbonate equivalent (LCE) for the year. Soochow Securities calculated total annual lithium mine supply at approximately 2.14 million tons, representing 440,000 tons of new capacity—most of which was not slated to come online until after the third quarter. That timing gap fueled the price rally during the first half of the year. Driven by these converging forces and inventory restocking across midstream channels, lithium carbonate surged from 70,000 yuan per ton in October 2025 to 200,000 yuan by May 2026. Unlike the speculative frenzy that drove prices to 600,000 yuan in 2022, this recovery occurred after capacity had been fully built out, anchored firmly by real end-user demand. Gaogong Industry Research Institute (GGII) summarized the shift: "This is not a bubble, but a return to fundamental value. The structural surge in energy storage demand, combined with supply-side consolidation, has redefined a rational price band for lithium." Prices doubled quickly due to market sentiment and downstream stockpiling. July’s price correction reflected two main factors: the gradual release of new supply and downstream resistance to inflated raw material costs. Analysts generally expect lithium carbonate to trade within a median range of 120,000 to 160,000 yuan per ton for the full year—a price level that keeps most producers profitable without triggering another round of reckless expansion. Energy Storage as the New Engine In the first half of 2026, China's energy storage battery shipments reached roughly 485 GWh, a year-over-year increase of over 80%. Over the same period, power battery shipments totaled roughly 630 GWh, up over 30%. The gap between the two segments is narrowing rapidly. Structural figures are even more telling. In the first quarter of 2026, Chinese energy storage battery shipments totaled about 209 GWh, up 115% year-over-year and accounting for roughly 40% of total lithium battery shipments. By June, energy storage cells made up nearly 41% of monthly production schedules—up from around 30% a year earlier. According to InfoLink, full-year energy storage cell shipments in 2025 reached roughly 610 GWh, approaching 70% of power battery shipments over the same timeframe. Energy storage is no longer a side business for battery makers; it has emerged as an independent market reshaping demand across the industry. Behind this market realignment lies a fundamental shift in purchasing drivers. Before 2024, domestic energy storage growth was driven primarily by mandatory integration policies, which required wind and solar projects to install storage capacity. That regulatory setup created low-quality demand, leading to poor utilization, weak financial returns, and inconsistent cell quality. Between 2025 and 2026, market dynamics pivoted from regulatory compliance to commercial economics. The shift first materialized in the domestic market. In early 2026, the National Development and Reform Commission and the National Energy Administration jointly issued new capacity pricing regulations (NDRC Pricing [2026] No. 114), establishing a national capacity tariff mechanism for standalone energy storage facilities. Local standards were set between 165 and 330 yuan per kilowatt-year, depending on the province. Surveys by Soochow Securities indicated that internal rates of return (IRR) for storage stations in several provinces crossed the 6% threshold required for commercial viability, especially where peak-to-valley price spreads exceeded 0.3 yuan per kWh. IRRs for top-tier projects reached as high as 10%, fundamentally improving overall demand quality. This domestic turning point coincided with an explosion in international demand. Major solar-plus-storage projects launched across the Middle East, particularly in Saudi Arabia and the United Arab Emirates, with individual project capacities regularly reaching several gigawatt-hours. In emerging markets across Australia, Southeast Asia, and Africa, weak power grids and rising renewable energy penetration transformed energy storage from an optional luxury into a necessity. Soochow Securities calculated that utility-scale storage installations in emerging markets grew 233% year-over-year in 2025, with an additional 69% increase projected for 2026. In Europe, energy security concerns and green energy quotas kept commercial, industrial, and residential demand robust. GGII projects that global energy storage battery shipments in 2026 will reach 800 to 1,100 GWh, representing year-over-year growth of 30% to 70%. Even at the mid-point estimate of 900 GWh, energy storage output is positioned to approach or match power battery production this year. As the industry's primary growth engine shifts, its core operational requirements are evolving as well. Power battery demand is dominated by automakers, whose priority is cost efficiency. The customer base for energy storage, however, is far more diverse: utility operators prioritize long cycle life and safety, data center owners require high discharge rates and extreme reliability, and overseas projects demand lifecycle compliance and supply-chain traceability. Winning in these markets requires technological adaptation, solid project execution, and international compliance capabilities rather than sheer scale. Oversupply or Industry Maturity? Evaluating battery utilization rates requires a closer look at the underlying numbers. In May 2026, the single-month installation rate for Chinese power batteries dropped to roughly 38%. Over the first five months of the year, cumulative power battery installations totaled 259 GWh against 863 GWh produced—yielding an overall utilization rate of about 30%. Factory output continues to outpace vehicle installations, leaving a substantial share of manufacturing lines underutilized. The five-year trajectory of Chinese power battery installation rates tells a clear story: 70% in 2021, 54% in 2022, roughly 52% in 2023, 50% in 2024, 44% in 2025, and 38% by May 2026. This steady decline in installation rates offers clear evidence of an industry transitioning from rapid early growth into maturity. Yet labeling the sector simply as oversupplied misses crucial nuances. The market is not experiencing a uniform glut; rather, it is undergoing sharp structural polarization. High-end shortages coexist alongside low-end surpluses. Demand for premium batteries with energy densities above 160 Wh/kg—primarily ternary chemistries—rebounded sharply, rising from a 6% market share in 2025 to 11%. Meanwhile, low-end products under 125 Wh/kg have effectively been phased out. Demand has also diverged sharply between commercial and passenger vehicles. Driven by subsidy policies, battery demand for electric heavy trucks and delivery vans surged, with battery consumption for electric cargo vans rising 169% year-over-year. By contrast, electric buses—once the industry's primary market—fell to fifth place. While market leadership remains dynamic, the nature of competitive moats is shifting. CATL and BYD together retain a 68% market share, but second-tier players like Gotion High-tech, EVE Energy, Svolt Energy, and Hithium are making gains. Competition is shifting from pure capacity expansion to technological differentiation and operating margins. From another perspective, declining installation rates are a natural hallmark of industry maturity. As annual growth moderates, a drop in capacity utilization from 70% to 40% is to be expected. While systemic capacity pressures continue to weigh on industry-wide profitability, and smaller players face ongoing price competition, market leaders retain the balance sheet strength to navigate the transition. As top-line growth slows, manufacturers lacking proprietary technology, accumulated capital, or global compliance infrastructure risk being squeezed out. This shift explains recent strategic course corrections by major capital allocators. Anode producer Sinomatech canceled a 10.3 billion yuan expansion, cathode supplier Dynanonic abandoned a 10 billion yuan project, and separator manufacturer Semcorp terminated a roughly 2 billion yuan facility in Malaysia. Top-tier players reining in massive investments is a classic sign of an industry transitioning from early expansion to financial discipline. This reallocation of capital does not mean expansion has halted entirely. In the first half of 2026, manufacturers announced over 65 new planned projects representing more than 1,500 GWh of capacity and over 220 billion yuan in total investment. Hunan Yuneng disclosed a 24 billion yuan expansion, while Yahua Group announced additional capacity in Zimbabwe. Expansion continues, but the prerequisites have changed: only enterprises with strong technical barriers, cash reserves, and global compliance infrastructure are positioned to invest while competitors scale back. Technology Race 2.0: Three Fronts If the period between 2022 and 2024 was defined by a race for manufacturing scale, 2025 and 2026 have marked a pivot toward technological differentiation across three distinct fronts. Front One: Structural Shortages in 314Ah Cells The central operational focus for the energy storage supply chain in 2026 has been a structural shortage of 314Ah cells rather than short-term price swings in raw lithium. By March, average spot prices for 314Ah cells from tier-one manufacturers approached 0.40 yuan per Wh, with small-lot orders reaching 0.45 yuan per Wh—a surge of over 25% within six months compared to the 0.30 to 0.34 yuan per Wh seen in August 2025. The immediate driver was rising raw lithium costs—at 180,000 yuan per ton of lithium carbonate, theoretical cell production costs sit between 0.35 and 0.38 yuan per Wh. However, the root cause was a supply gap during the industry's transition to larger formats. As manufacturers shift from 280Ah and 314Ah form factors toward 500Ah+ designs, investment in legacy 314Ah production lines has largely ceased. Because next-generation 500Ah+ cell capacity will not scale up until late 2026, production ramps and customer testing created a temporary bottleneck. During this supply gap, the deficit widened significantly, pushing delivery timelines for select orders into 2027. This dynamic reflects a clear shift in industry economics: market returns are no longer guaranteed simply by bringing capacity online, but by executing format transitions ahead of competitors. CATL has already deployed its 587Ah cell in a 2.4 GWh standalone storage project in Inner Mongolia, while EVE Energy has accelerated mass production of its 628Ah format. With the shift toward larger cell formats underway, manufacturing execution is everything. While 314Ah supply constraints present an immediate operational challenge, solid-state technology represents the long-term competitive battlefield. Front Two: A Return to Realism in Solid-State Batteries Although 2026 has been touted as the inaugural year for commercial solid-state battery deployment, that label requires qualification: current production consists almost entirely of semi-solid (hybrid liquid-solid) chemistries. Models including the NIO ET9, MG4, GAC Hyper, and Chery vehicles have entered the market equipped with semi-solid packs featuring energy densities between 350 and 400 Wh/kg. Because these designs remain compatible with over 90% of existing liquid battery production lines, retooling costs remain manageable and rollout schedules are accelerating. However, the commercial reality of all-solid-state technology remains far more complex than vehicle showroom specifications suggest. In March 2026, Ouyang Minggao, an academician at the Chinese Academy of Sciences, offered a candid assessment: "To be prudent, it is best not to commercialize all-solid-state battery vehicles over the next two years." He cited three major technical hurdles: solid-solid interface stability, where microscopic gaps between solid electrolytes and electrodes cause internal resistance to spike; lithium dendrite formation and safety risks; and the environmental volatility of sulfide electrolytes, which decompose upon exposure to moisture and demand strict manufacturing conditions. Industry leaders report steady if measured progress. CATL’s sulfide-based solid-state cell has surpassed an energy density of 500 Wh/kg, with small-scale production anticipated in 2027. BYD’s 20 GWh facility in Chongqing is scheduled to begin semi-solid production in the third quarter of 2026, targeting pilot runs for all-solid-state cells in 2027. Gotion High-tech plans to initiate operations on a 2 GWh solid-state line by late 2026, while EVE Energy has produced sample 60Ah solid-state cells. A clear timeline has taken shape: 2026 is focused on pilot line verification, 2027 on vehicle testing, and 2030 on potential large-scale commercialization. The implementation of recommended national standard GB/T 43568-2026 (Solid-State Batteries for Electric Vehicles) on July 1, 2026, established an initial regulatory framework for long-term development. Ultimately, 2026 marks less the mass adoption of solid-state technology than a recalibration of market expectations. Meanwhile, an underappreciated demand driver is quietly gathering momentum. Front Three: AIDC Storage as AI Infrastructure In the first five months of 2026, global energy storage shipments for AI data centers (AIDC) reached 10 GWh, surpassing total volume for all of 2025. Industry research firms project that global AIDC storage demand will reach 300 to 400 GWh by 2030—more than twenty times its 2025 level. Capital deployment in the segment is ramping up. CATL invested roughly 4.1 billion yuan to acquire a strategic stake in Senter Power to secure positioning in high-voltage DC power distribution for data centers, while winning a bid for a 2 GW / 4 GWh storage project at a computing center in Guizhou. Fluence signed agreements covering a 12 GW pipeline of potential projects with two major U.S. cloud providers, LG secured eight data center storage contracts totaling 6 GWh—including projects for Oracle—and Panasonic announced 350 billion yen in battery investment aimed at tripling its data center storage revenue. The expansion of AIDC storage is driven by a widening gap between AI computing power demands and utility grid capacity. Power consumption per rack in modern AI facilities has jumped from 5–8 kW in traditional data centers to 40–100 kW, while grid connection approvals and capacity upgrades often take three to five years. Onsite battery systems serve both as backup power and as a bridge to accelerate facility commissioning. Energy storage is moving from an auxiliary fallback to an integrated structural component of data centers. Following NVIDIA’s October 2025 announcement of an 800V DC power architecture—designed to phase out diesel generators and legacy uninterruptible power supplies (UPS)—storage systems are being wired directly into primary distribution networks. This shift expands the market beyond traditional buyers like power utilities and renewable energy developers to encompass cloud providers and infrastructure operators, establishing a distinct category of demand. Globalization 2.0 While domestic market consolidation marks the industry’s initial transition to maturity, international expansion presents a secondary test. Tariff structures, raw material access, and regulatory standards are tightening concurrently across major export markets. Trade barriers represent the most immediate hurdle. The European Union’s countervailing duties on Chinese battery electric vehicles have been in effect for five years and are expanding to include plug-in hybrids. In the United States, the Inflation Reduction Act continues to raise domestic content requirements for power and energy storage batteries. Concurrently, China has reduced its export tax rebates for batteries from 9% to 6% as of April 2026, with complete elimination scheduled for January 2027. Rising trade costs are accelerating a shift from direct product exports to localized overseas manufacturing. At the same time, competition over raw materials is intensifying. The U.S.-led Minerals Security Partnership continues work to build key mineral supply chains outside China, while changing rules in jurisdictions like Zimbabwe highlight shifting export policies. Strategic positioning across raw material supply chains remains an ongoing operational priority. Regulatory compliance presents a quieter but more complex technical hurdle. The European Union’s Battery Passport regulations will become mandatory on February 18, 2027, requiring detailed disclosure of lifecycle carbon footprints, material origins, and recycled content percentages. The impact of these rules depends heavily on how accounting frameworks are defined; systematic discrepancies in baseline emissions databases regarding Chinese energy mixes or manufacturing processes could affect market access. In response, leading Chinese manufacturers are moving from passive compliance to active engagement with international standards. CATL has partnered with BMW and Germany’s Catena-X network to help establish over 90 baseline carbon accounting metrics. BYD invested over 100 million yuan to develop its "i-Carbon Chain" platform for digital carbon tracking across its supply chain. Similarly, REPT BATTERO collaborated with TÜV Rheinland and Circulor on a battery passport initiative, securing third-party verification for 98 independent datasets from an EU Notified Body. Overseas manufacturing footprints are expanding in tandem: CATL’s production complex in Hungary, BYD’s plant in Brazil, Gotion High-tech’s joint venture in the United States, and Envision AESC’s gigafactory in Spain. Chinese battery makers are transitioning from a model of centralized domestic production for export toward localized manufacturing aligned with international standards. This next phase of international expansion hinges on regulatory transparency, supply chain control, and deep local integration. Beyond Maturity In July 2026, as equity valuations diverged from corporate earnings across the lithium sector, market participants wrestled with where the industry stands in its broader evolution. The most visible change is the shift in growth drivers. With energy storage shipments reaching 485 GWh in the first half of the year to account for over 40% of total output, the gap between storage and mobility applications is closing rapidly. This demand-side pivot coincides with capacity rebalancing on the supply side, where power battery installation rates have adjusted from 70% down to the 30%–40% range, signaling an end to early, unbridled expansion while overall margins remain under pressure. These structural shifts are redefining entry barriers across the market. With 314Ah cell prices rising over 25% in six months and AIDC storage demand expanding rapidly, technical capabilities are increasingly determining market positioning. As national standards for solid-state technology take effect and EU Battery Passport deadlines approach, regulatory compliance has become a baseline operational requirement. The trajectory of lithium carbonate—falling to 60,000 yuan, rebounding to 200,000, and settling near 150,000—reflects a market seeking equilibrium. This broader transition was highlighted by a joint policy announcement on July 18, when three Chinese government ministries introduced a new consumption tax structure for batteries. Effective September 1, lithium-ion batteries are subject to a 2% consumption tax, rising to 4% in September 2027, while sodium-ion and solid-state batteries remain exempt through the end of 2028. The policy ends a tax exemption for lithium batteries that spanned more than a decade. Phasing in taxation uses fiscal policy to encourage capacity optimization and technological upgrading by taxing established chemistries while incentivizing next-generation alternatives. For second-tier cell makers operating on narrow margins, the 2% tax burden—equivalent to roughly 0.007 to 0.008 yuan per Wh—will further compress operating margins, reinforcing market consolidation around capitalized leaders. For China's lithium battery industry, 2026 represents a clear inflection point. Enterprises equipped with proprietary technology, international compliance frameworks, and established brand equity face a broader global landscape as the sector matures. Conversely, manufacturers reliant on single customers, lacking technical moats, or unable to meet evolving compliance standards face mounting pressure. The early expansion phase of the lithium battery industry has drawn to a close. Its mature chapter is just beginning. (This article was first published on the TMTPost App. Author | AGI-Signal, Editor | Zhao Hongyu)梅西走下世界杯赛场,变身硅谷投资人。我要发布>>
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