但变革的另一面是风险。
1、米兰体育 瑞士最大的优势是他们的中轴线,门将位置由多特蒙德主力科贝尔坐镇,完美适配主教练雅金的出球体系;后防核心是效力于国米的阿坎吉,他防空能力突出,出球稳健,还能通过定位球抢点得分;中场绝对核心是队长扎卡,长传调度、远射、中场绞杀样样精通;锋线方面恩博洛担任支点中锋,身体对抗强,能做球能终结,曼赞比和巴尔加斯组成的轮换攻击线速度快、终结能力出色。
不止如此,本就负债率偏高的广安爱众,此番为和解执行,将更加债台高筑。米兰体育迪奥曼德本人更倾向于加盟巴黎圣日耳曼,但巴黎尚未满足要价。
2、2026洛杉矶展启幕,中国纺织供应链“精锐部队”集结美西
主帅图赫尔赛后坦言:“结果很棒,但过程并不令人满意,我们今天很幸运。

3、1955年别克世纪双门Riviera翻新待售,322ci V8与变速箱均经大修
市场环境对企业Agent的要求也再逐步提高。
4、七场对决揭幕布拉格:鲍兹科娃领衔首轮,赔率昭示乱局
玩家的抵触从来不是无理苛责 敖尹的突然上线,是本次所有舆情的导火索,玩家大规模、高烈度的抵制,从来不是单一的“讨厌新角色”,而是情感、消费、价值认知三重矛盾的集中爆发,且乙游玩家群体本就圈层多元、诉求不一,舆论呈现的对立局面,本身就是赛道发展陷入困境的真实缩影。
5、1746个螺母被认定为枪支散件,五金厂老板获刑四年,其父:螺母系玩具商定制安装在玩具水弹枪上
盈利模式同样模糊,在AI硬件领域,200万台出货量被普遍视作“生死线”,而目前即便是明星产品,也并未跨越这条线。
当挪威人从梦中醒来,面对强大的三狮军团,他们需要哈兰德继续扮演终结者;而英格兰若想挺进半决赛,也必须限制住这位昔日队友的致命威胁。
紧接着是准备好多次失败。
6、中超第19轮明天7月18日赛程:CCTV5直播铜梁龙PK浙江,申花PK天津
这套战术在世预赛阶段取得了5胜3平1负的不错战绩,但阵地攻坚能力严重不足,且下半场体能下滑明显。
当销量规模无法突破,高昂的研发与硬件成本难以被摊薄,持续盈利便成为空中楼阁。
7、王霜伤缺,三新援齐上阵!武汉女足终结不胜升至第4
学校就业指导中心、免费的校招公众号、学长学姐的分享,这些都是不花钱的情报来源。
对于贝西克塔斯而言,这不仅是竞技层面的豪赌,更是向加拉塔萨雷、费内巴切等争冠对手发出的最强宣言:他们也要争冠。
8、ESPN给湖人休赛期操作打C+:詹姆斯离开后,阵容评级扎心了
其次是荷兰2-1小胜,依靠定位球或个人能力险胜。
如今合同即将到期,他又一次站在了职业生涯的十字路口。
美加墨世界杯四分之一决赛,阿根廷队历经苦战,凭借阿尔瓦雷斯在加时赛的制胜进球淘汰瑞士,昂首挺进半决赛。
9、英格兰VS阿根廷前瞻:阿根廷多重劣势缠身,难挡英格兰挺进决赛
三个月,三轮融资,合计约35亿元。
但对于7-Eleven来说,光是进军新鲜零食还远远不够。
10、3天扇20多耳光!被足协终身禁足的他,为何还能当青训教练?
当挪威人从梦中醒来,面对强大的三狮军团,他们需要哈兰德继续扮演终结者;而英格兰若想挺进半决赛,也必须限制住这位昔日队友的致命威胁。
卡塞米罗已正式加盟美职联球队迈阿密国际。
1、克洛普即将就任德国队主帅,召入林德斯与克拉维茨辅佐
国家市场监督管理总局的缺陷调查会介入,技术结论必须公开;车主可以依据召回事实提起集体诉讼,要求赔偿营运损失、车辆贬值损失;保险公司的产品责任险理赔通道被激活;监管机构的缺陷认定报告会成为所有后续法律诉讼的核心证据。
2、从荷兰体系到意大利的狠,中国球员需要那一点“坏劲儿”
湿实验:“金标准”验证下的闭环证据链 在生命科学研究中,计算校验能证明方案“对”,但不能证明它“行得通”,湿实验是判断计算方案能否在真实物理条件下成立的关键验证标准,也是检验序列组装是否真正可行的“金标准”。
3、投入超37.5亿镑,沙特撤资后LIV团体赛恐泡汤,凯默尔:极不可能
” 这“最后一步”的缺失,不仅让英格兰队史第六十年的冠军等待继续,也将凯恩推向了舆论的风口浪尖。锋线、内线及教练组全补强!北控没抢大鱼,却赢了整个休赛期综上所述,此役看好英格兰击败阿根廷与西班牙会师决赛。
4、安德玛户外,原来是家“贴牌”公司?
2026世界杯总有11支球队的身价超过5亿欧元,连续两届世界杯杀入决赛的阿根廷总身价8.08亿欧元,排名本届世界杯第七,与之形成鲜明反差的是葡萄牙总身价超10亿欧元,也是本届世界杯仅有四支身价超10亿欧元的球队,另外三支(法国、英格兰、西班牙)全部晋级四强,唯独葡萄牙止步16强。
5、14国施压南海不到24小时,中方抛出灵魂一问,日本却先破防了
如果只认周期底,5到8倍PE,市值在5792亿到1万亿之间,股价8.66到15元。
6、从诺维奇水货到阿森纳新宠:佐利斯22球29助攻的逆袭之路
凯恩五场比赛打入6球并送出1次助攻,世界杯总进球数达到14粒。
这场请愿在南美球队阿根廷失利后迅速发酵,目前签名人数已突破6.15万。
第二:罗德里状态上佳,斗牛士军团无惧欧洲红魔!西班牙相比2026年欧洲杯两个边路是差点意思的,但罗德里近期找回了巅峰状态,大有渐入佳境的感觉。
7、WNBA新科状元距禁赛仅差1技犯 与对手互喷后笑称“去问魔法球”
“当时就觉得,怎么天天都有这么多人买,零食生意也太好做了。
从大众体育到顶级赛事,从日常生活场景到特别的观赛据点,乐事也将陪伴消费者共享体育激情与欢聚,让每一次看赛,都增添有乐事的快乐记忆。
8、索尔特致胜6分,威尔士火终结对南方勇敢八连败
姆巴佩以6场8球3助攻的逆天数据领跑射手榜,他在场上的每一次冲刺都像是撕裂防线的利刃;登贝莱同样状态火热,贡献5球2助攻,他的双足能力和边路爆破让防守球员防不胜防;而奥利塞虽然颗粒无收,却用5次助攻扮演了进攻大脑的角色,他的精准直塞和上帝视角,将法国的冲击力串联成了一张密不透风的网。
据悉,弗利克每天都在关注他的恢复情况,教练组和医疗部门都对目前的平稳进展感到满意。
英格兰的后防线都是英超球员,比如格伊、孔萨等中卫对哈兰德都是比较熟悉。
在这样的背景下,行业开始出现另一条技术路线——用存储扩展显存,不是做更贵的专业卡,而是释放消费级GPU的潜力。
用户爱心托管解民忧 礼县工会护航职工子女伴成长 为津巴布韦首球即遭重创:0跑1出局,印度投手梅扬克闪电破局赠送传奇解说员离职:开拓者合同“次级贷”,老板发家于此阿隆索:“乐观,但别期望太高” 阿斯顿马丁押注一站补齐全年差距
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用户仅6.3万公里的日规“步威”:一台2000年本田Stepwgn的无底价赴美实录 为CCTV5直播申花VS海牛!米兰放眼津门虎+德比大战,司机再不晋级还要脸吗?赠送碾压萨默维尔!曼联瞄准 6000 万世界杯巨星!卡里克捡漏封神人气票
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用户加拿大山火或影响世界杯决赛 为马宁自宣下班!中国裁判世界杯工作全部结束!赠送7场零封650分钟不失球,西班牙门将西蒙夺世界杯金手套创纪录人气票
用户看了几场夏季联赛,更加确定杨瀚森再不拼,在NBA真没有未来了 为王毅会见菲律宾外长拉扎罗:对菲方人员粗暴行径表示强烈抗议,当前中菲关系站在十字路口,何去何从需要菲方作出正确理智选择赠送南京溧水采摘经济热出圈,农旅融合铺就乡村振兴甜蜜路人气票
用户红袜15连胜追平队史同日告破 詹姆斯再创超长自由身纪录 为世界杯冲突后帕雷德斯发声:痛苦又骄傲,为阿根廷球衣拼尽全力赠送海港有福了:前中超超级外援奥斯卡考虑重返上海滩+培养足球人才人气票
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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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