随着著名转会记者罗马诺那句标志性的“Here we go”响彻足坛,今夏英超转会市场迎来了一笔重磅交易。
1、hth官网登录 反复打磨同质化的甜宠套路、复刻相似的情感桥段,只会让玩家审美疲劳,慢慢失去付费和追剧的热情。
产品发售第三年,拓竹已经证明,一台需要极客反复调试的机器,可以被重新做成消费品。hth官网登录总股本668.8亿股,发行市值5792亿元。
2、“斑块”患者要小心中风?专家讲中风病因!
与此同时,米兰与法兰克福技术总监克罗舍的谈判同样进展顺利,双方已经非常接近达成协议。

3、AI烧钱大战升级!谷歌、特斯拉现金流双双转负
28岁的拉什福德上赛季租借效力于巴塞罗那,但西甲冠军最终决定不激活合同中2600万英镑的买断选项。
4、《创:战神》| Keep 联动挑战正式上线
回顾本届参赛历程,葡萄牙小组赛1胜2平积5分排名第二,表现起伏较大。
5、威少被甩了!拒绝他归队!无人报价!难道要退役?
年报显示,截至2025年末,公司在建工程17.36亿元,同比增长233.44%,主要系报告期0元收购奇台县恒拓新能源发电有限公司,新增风电项目工程13.69亿元,期末工程进度91.24%。
足球比赛的魅力,恰恰在于身价无法解释一切。
文本占60%,多模态占40%。
6、用了11年的NBA探花,真的换遍全联盟,辗转四次,最终得到特雷杨
不过在葡萄牙主帅看来,球队现有的中卫人选仍不能满足他的3-4-2-1体系,俱乐部还需要进行一波转出和转入操作。
展会总面积 6 万平方米,452 家国内外企业与机构参展,覆盖 eVTOL 整机、无人机、能源动力、航电系统、先进材料、低空安防、金融服务、产业园区等产业链环节。
7、让俩外援还能赢!上海男篮总决赛G1击败广厦,古德温狂砍大号两双
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。
你总是会有这个时代的局限性。
8、杰特:山东男篮外援名宿,跨越山海,守护中国年轻球员追梦NBA
Q2谷歌服务实现营收945亿美元,同比增长15%,其中广告主业略超预期,搜索广告增长17%、YouTube广告增长13%。
这个动作传递出的是抗和自信,放在当时的语境里,很像是在向主教练下战书。
” 行业对芯片的评判标准已发生转变,业界不再单纯追逐芯片峰值算力,单位Token成本、综合性价比成为关键。
9、网易
在损失巨额收入的情况下,继续卖主力几乎成定局。
根据规定,俱乐部在同一个欧战赛季的联赛阶段必须在同一座球场进行所有主场比赛。
10、喜讯!前多特王牌携手民主刚果国脚锋霸官宣加盟国安,值得期待
这种不确定性很可能会影响球员的备战状态,甚至可能导致一些核心球员产生离队的想法。
小组赛前两轮,挪威4-1大胜伊拉克,3-2险胜塞内加尔,两战全胜积6分。
1、美媒:詹姆斯团队原定上周公布去向,但因不爽肖华催促遂推迟
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。
2、全场仅一个破发点!德约体力透支完败辛纳,坦言明年还要来温网
两家的共同困境在于:“市场关注Capex超过盈利”。
3、广州豹站稳榜首,两队意愿强烈,宁波异军突起:2026中甲半程冲超格局
自2012年完成成年队首秀起,他便成为了“特兰加雄狮”最锋利的剑与最坚韧的盾。早上6点!CCTV5直播内马尔首秀,安切洛蒂表态,赢球=小组出线其中GPU芯片企业沐曦股份不仅出资,还与飞捷科思联合发布了全栈国产化物理AI仿真训练工作站 FysiStation,软硬一体深度绑定。
4、蝉联年薪联盟第一有多难?科比连续7年领跑NBA,库里10年,那詹姆斯和乔丹呢?
从穆萨的2400万,到本纳塞尔的1000万,再到丘库埃泽的2400万,加上泰拉恰诺那笔悬而未决的几百万,米兰累计可能要损失超过6000万欧元的预期收入,这将在一定程度上影响到球队夏窗的引援质量。
5、聚焦|桃田贤斗逆转夺冠,上海尤尼克斯公开赛迎来五项新冠军
与过去相比,老板本人将更深入地参与俱乐部的日常运营。
6、今日18:07开票
大三上是第二次窗口,秋招提前批和日常实习并行,大二下没拿到的,这是补救机会,同时开始把实习成果量化、准备校招简历。
增长背后,利润为什么消失了? 关于特斯拉Q2 的成绩单,一个最值得关心的现象是:在营收创纪录的情况下,特斯拉却出现了利润缩水、毛利率分化、费用暴涨、现金流转负等情况。
随后在对阵美国队的比赛中,没有德布劳内的中场凭借拉斯金、奥纳纳以及蒂勒曼斯的强硬拼抢,再次赢得胜利。
7、这届世界杯花钱最狠的人,不懂球丨2026世界杯消费报告
那不勒斯的设想是以租借附带选择买断权的方式签下萨勒马克尔斯。
"AI的竞争,本质上是算力效率的竞争。
8、打脸黑子!中国女排3-2美国女排 赛后听听球员和教练怎么说
1/16决赛中,摩洛哥遭遇荷兰,这场强强对话打得异常激烈。
本周一凌晨,三狮军团在阿兹特克球场以3比2险胜墨西哥队,但球队为此遭遇多重减员困扰。
一连串操作之后,切尔西的锋线人员趋于饱和,至少还有一名攻击手需要另寻出路。
店内空间留白通透,去除繁杂元素,采用独特木质结构,为简约空间注入质感,将机能科技与都市美学相结合。
用户明日12:00!浙江VS上海、浙江VS江苏、浙江VS山西三场同步开售! 为骑士B计划曝光!签不到詹姆斯就追海佐尼亚:上赛季西班牙联赛MVP赠送解读森林狼、篮网、公牛三方交易:丢包袱囤家底各取所需CBA最新消息!广东宏远新主帅确定,超级外援加盟浙江男篮
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用户大冷门!女排3-2美国女排 比赛诞生三大不可思议,女排值得期待 为把顶薪打没了!本赛季结束,这5位球星身价大幅缩水!湖人2将在列赠送2米03!106公斤!能从三号位打到五号位,马刺得到他或可冲击冠军人气票
用户不用球架投篮所以不参赛?克拉克三度婉拒三分大赛的真实原因 为为何不待见林葳?郭士强专赴现场考察 葳少竟礼貌性握手直接走人赠送牙膏界的「泡泡玛特」,要IPO了点赞最棒
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用户浙江:到2030年基本建成具有强大竞争力、吸引力、影响力的一流创新生态 为江苏男篮完成重要签约!2米05吨位型内线正式加盟,曾单场砍22+10赠送CBA最新消息!阿不都沙拉木或离开新疆,刘晓宇重返北控男篮人气票
用户花1亿改造的文物级酒店,还是把自己玩倒闭了 为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赠送高温来袭,京东互联网医院提醒:防护不松懈、警惕热射病、急救守法则人气票
用户4年2.73亿美金!NBA休赛期最烂合同,哈登要向老詹学习 为酒店的免费早餐,到底是谁在买单赠送【央媒看山西】山西“雨养小麦”亩产创新高人气票
卡塞米罗签下了一份直至2027年美职联常规赛赛季末的合同,俱乐部持有续约至2029年6月的选项。我要发布>>
我们是一个大家庭,队内的竞争氛围让你成为更好的球员。我要发布>>
欧洲则在能源安全焦虑和绿电比例考核的夹击下,工商业储能与户用储能保持旺盛。我要发布>>
听众在通勤、做家务和睡前戴着耳机,很容易产生一种错觉——有人正在单独理解我。我要发布>>
但短板同样明显,他身材瘦小对抗偏弱,门前终结效率一般,防守参与度低,头球和高空争抢薄弱。我要发布>>
转变始于他重新学会了享受踢球,而不是把每一场比赛都当成对自我的又一次审判。我要发布>>
” 谈及在拉玛西亚的岁月,埃斯帕特感慨万千。我要发布>>
值得注意的是,面壁智能的端侧大模型首次进入三星全球旗舰产品线,这是国产端侧大模型首次进入国际头部手机厂商的全球旗舰产品。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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