接下来很可能还有至少两名攻击手加盟。
1、迈博体育 随着本土化运营体系日臻完善,马来西亚市场成为瑞幸在亚太市场的重要布局,也为瑞幸的进一步全球化发展提供了有效经验。
这粒金子般的进球不仅帮助球队晋级,更让马德里竞技为其标出的1.5亿欧元转会费显得物有所值。迈博体育综合来看,葡萄牙无疑是更被看好的一方,但克罗地亚的大赛经验和韧性,绝对不容小觑。
2、中国电动汽车“双雄”攻韩!极氪携7X挑战高端市场
等他们长开了,早已无人问津。

3、史诗级4队交易方案:火箭7换2组3巨头 绿军化整为零 鹈鹕躺平重建
计算能力与存储能力增长速度的巨大落差,使得数据供应速度远远赶不上GPU计算速度,一道越来越宽的"内存墙"由此形成。
4、时隔16年!西班牙再夺世界杯冠军,阿根廷的结局没有遗憾!
由于双方球员参加世界杯半决赛,原定的联赛揭幕战对阵毕尔巴鄂竞技被迫推迟,因此巴萨新赛季首个正式联赛主场将安排在8月29日或30日迎战巴列卡诺。
5、恭喜火箭!一天签2人,双前锋底薪签约,合同白菜价,斯通很精明
原材料的全球化配置,越来越像一场没有硝烟的圈地运动。
他指出,赖斯近期一直受到腿筋及下背部伤病的困扰,此时强行首发实属不智。
一天后,极佳视界出面降温。
6、第一批逃离高温的人,已经在吉林住下了
这笔钱相当于优必选2025年全年营收20亿元6%的钱。
项目计划自2026年7月启动,至2033年建成投产,资金来源为自有资金及自筹资金。
7、16中4场均5.8分!曾被视为救世主的他遭球队嫌弃,离队成定局?
Momenta是一家深耕L2级辅助驾驶方案的智驾公司,主要收入来源于软件与服务。
作为该财务策略的一部分,体育部门评估了多名能够通过出售产生资本收益的球员,卡萨多因其青训背景成为最具吸引力的选项之一。
8、国羽无缘中国公开赛男单四强 今年高级别依旧0冠
这意味着,对Anthropic来说,大模型不只是一个效率工具或聊天伴侣,而是一种能服务于社会进化的基础技术。
再看稀缺溢价。
Q2现金流已被碳积分消失和AI开支重压,而残值敞口的急速扩张,是在水面下又凿开了一个洞。
9、中国男篮大胜台北,杨瀚森正负值-4,球员评分:庞峥麟首秀9.7分
这批电芯的故障画像高度统一:车型集中于AION S Plus、魅580、S MAX;行驶里程几乎全部落在15万到25万公里之间;故障表现先是续航莫名缩水,继而仪表盘报绝缘故障,BMS限制动力输出,最终行驶中直接断电趴窝。
2023年11月,减肥版Zepbound获批。
10、41+24!马刺122-115胜雷霆,文班亚马砍4大纪录,一战看清4个现实
原因无他,那份刚出炉的二季报里,写着高达11亿美元的负自由现金流,以及一个让所有人大跌眼镜的资本开支(Capex)计划。
CONTEXT 于4月15日发布的报告显示,2025年Q4,全球 3D 打印硬件系统收入同比增长 25%;其中,2500 美元以下的入门级 3D 打印机出货量同比增长 47%,带动该价格带收入增长 53%。
1、明日14点男篮VS台北生死战,传来3好3坏消息,阵容天克,男篮能赢
法国的隐患在中场,科内和拉比奥都偏工兵型,一旦被对手压制,进攻组织可能会出现问题。
2、【考古系】2003巅峰麦大战活塞(上):无限接近成功的黑八
CPO能否成为光互连的终极形态? AI算力的爆发式增长,对数据中心等基础设施的形态几乎是一种颠覆。
3、锐评:袁悦打法过时了?无缘美网资格赛的高鑫妤为何总差一口气?
毫无悬念,本届世界杯最大的赢家,正是将决赛双方双双收入麾下的运动巨头——阿迪达斯。国际足联做出2个重要决定!他们从我们身上赚了太多钱,我们得让他们少赚点。
4、维迪西妥单抗一线治疗HER2表达尿路上皮癌获批国内上市
进攻端凯恩回撤策应,萨卡与戈登(拉什福德)双边路轮番爆破,贝林厄姆的后插上得分能力极具威胁。
5、76人102-108输尼克斯!0-2!这一战看清5个现实:3换3交易赚大了
目前摆在他面前四种选择:与米兰续约一年;加盟博班任职的萨格勒布迪纳摩,在家乡结束职业生涯;返回皇马进入管理层或教练组;直接退役。
6、美记:种种迹象表明 库里将与勇士达成两年1.367亿续约合同
“商业化起点永远是客户需求。
23-24赛季,镰田大地加盟拉齐奥,38次出场贡献2球2助攻。
杭州电信方面透露,经过数月软硬件调优,TPU 集群的 Token 输出效率较年初提升超过 10 倍。
7、日本汽车协会急了:再不抱团,就被中国车各个击破
礼来用了二十年弥补一个本不该犯的错误,幸运的是,它最终补上了。
"出来了很多真正会踢球的年轻人,技术干净利落,传球到位,长传转移也有质量。
8、《成都声明》在APEC数字和人工智能部长会议达成
阿尔及利亚想要取胜,很大程度上需要依赖马赫雷斯的个人发挥,以及反击和定位球机会。
尽管存在短期负面影响,滔搏称其将就线下销售安排致力与耐克保持紧密合作。
西班牙阵营中,马科斯·略伦特、格里马尔多、马克·普维尔以及巴埃纳4名悍将入选,他们将在攻防两端为斗牛士军团保驾护航;而在阿根廷阵营中,胡利安·阿尔瓦雷斯、蒂亚戈-阿尔马达、尼古拉斯·冈萨雷斯、朱利亚诺·西蒙尼、莫利纳以及门将穆索等6名球员悉数在列。
7场胜利包括客场对莱切、主场对博洛尼亚、客场对乌迪内斯、主场对维罗纳、客场对博洛尼亚、主场对都灵以及客场对热那亚,1场失利来自首轮尚在磨合期的阿莱格里爆冷负于克雷莫内塞,1场平局是主场2比2战平萨索洛。
用户BW2026 影像厂商"集体下凡"——为二次元盛宴助威 为中国男篮VS荷兰!郭士强拒绝输球,杨瀚森确定出战,央视直播赠送邵佳一赛后鼓励球队:主场没赢确实可惜,但我的要求都做到了打得菜还玩得花!韦德儿子不争气,突然被捕了!
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用户配速329跑5公里用时17分31秒,是什么跑步水平? 为Stein:库明加对以短期合同重返老鹰持开放态度赠送日本足球的热血番,倒在了最后一刻人气票
用户浙江男篮确定新外援,和1米88控卫完成签约,意甲联赛场均18+3+3 为从2007年到现在,从澳网到温网,五小时较量德约保持全胜赠送津门虎官宣确认中超夏窗首签到位!曾入选08国少,值得期待点赞最棒
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用户【抢票】2026「i动·燃趣焕新赛」早鸟售票通道现已开启! 为双榜第一、用户增长超4倍:京东健康医疗AI最新成果亮相WAIC 2026赠送CBA狂野一日!2笔重磅交易诞生,6人完成签约,徐杰林葳互换被辟谣人气票
用户罗德里举杯之后,这届世界杯留下了一地“不可能”奖杯传过罗德里的手,西班牙人站在最高处 为先破墙后钻洞,多处CIA据点被伊朗袭击,美国怀疑俄方协助赠送央视点名、王毅会晤、菲律宾终于知错,但留给马科斯的时间不多了人气票
用户陕西金泰恒业房地产有限公司:匠心交付创佳绩 “金彩生活”启新篇 为东里受伤,湖人打法倒退回六年前,顿宝老詹能顶得住吗赠送谢贤去世不到1小时,恶心一幕出现,死因被质疑,儿子透露遗愿人气票
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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