On May 12, 2026, Shirley Wang, SMM's Vice President, attended Cobalt Institute's Annual Conference held in Madrid, Spain. At this annual conference, SMM and the Cobalt Institute jointly hosted a sub-forum titled "China's ESG Landscape — Practical Insights for the Cobalt Value Chain ." Shirley delivered a keynote speech in the opening session on the current status and outlook of China's cobalt market, sharing insights on China's cobalt market supply-demand pattern and price trends, with a systematic analysis from three perspectives: supply structure changes, production outlook, and end-use demand. As a member of the Cobalt Institute, SMM has always been committed to working with international cobalt industry organizations, enterprises, and standard setters to build a more efficient and comprehensive cobalt industry value chain and market information system. s one of China's largest non-ferrous metals information service providers, SMM has fully leveraged its global advantages to establish a full-ecosystem value information system centered on China, covering upstream mining (DRC + Indonesia), midstream processing, downstream battery materials and trading, battery cell and battery manufacturing, and end-user new energy and consumer electronics applications. SMM has participated in the Cobalt Institute conference and delivered keynote speeches for three consecutive years. I. Market Supply Analysis 1.1 China's Total Supply and Raw Material Structure Changes Since Q2 last year, the effective supply of crude cobalt hydroxide has declined significantly . In the short term, MHP, black mass, and other raw materials are squeezing the market share of cobalt hydroxide, a trend that warrants continued attention. In terms of the raw material structure of cobalt products, in Q1 this year, cobalt hydroxide accounted for only about 10% of the raw material mix, MHP imports rose to over 15% , and recycled raw materials climbed to over 30% . Specifically, in the raw material composition of cobalt sulphate, the proportion of recycled raw materials increased significantly , with cobalt intermediate products falling to below 40% , and high-cobalt black mass reaching 30% . This structural shift reflects a profound adjustment underway in China's cobalt raw material supply. 1.2 Production Outlook China's recycled cobalt products production was approximately 24,000 mt in 2025, and is expected to approach 30,000 mt in 2026, maintaining a trend of edging up over the medium and long-term. In terms of supply of MHP, production this month was constrained by sulfur shortages , but in the long term, cobalt supply from MHP sources is expected to continue increasing. II. End-Use Demand Analysis 2.1 NEV Market Ternary market share continued to be squeezed by LFP, with overall growth limited. Meanwhile, affected by high cobalt prices and tight supply , cobalt consumption per mt of precursor declined. In Q1 this year, the weighted cobalt consumption per mt of precursor fell below 0.06 mt in metal content . Nevertheless, total cobalt demand from the NEV market continued to grow, but the growth rate was lower than previous expectations . 2.2 3C Products Market The 3C products market also faced significant pressure. Since the end of last year, sharp increases in chip prices drove up 3C product prices. In addition, to cope with cost pressure, some enterprises reduced cobalt usage in cathode materials by blending NCM , and 3C cobalt demand is expected to decline this year . However, in the medium and long-term, cobalt demand from 3C products still has room for growth. III. Price Trends and Outlook Regarding cobalt price trends, theoretical calculations suggest that in Q2 to Q3 2026, concentrated arrivals of previously backlogged cobalt intermediate products at ports will cause the cobalt raw material supply-demand balance to temporarily reverse into an inventory buildup state, putting downward pressure on cobalt prices. However, constrained by inventory levels and market sales pace , available cobalt intermediate products in the market are limited, providing strong support for cobalt prices. Prices are expected to edge up in the coming months, but there is a clear upside ceiling . She also pointed out that raw material inventory levels, other raw material supply (such as MHP, refined cobalt, etc.), and the shipments pace of cobalt intermediate products were the biggest uncertainties affecting price trends.

On May 12, 2026, SMM Vice President Wang Cong ( Shirley Wang) attended the Cobalt Institute Annual Conference held in Madrid, Spain. At this Cobalt Institute annual conference, SMM and the Cobalt Institute jointly hosted a sub-forum titled "China's ESG Landscape — Practical Insights for the Cobalt Value Chain." SMM delivered a keynote speech in the opening session on the current status and outlook of China's cobalt market, sharing insights on China's cobalt market supply-demand pattern and price trends , with a systematic analysis from three dimensions: supply structure changes, production outlook, and end-use demand. As a member of the Cobalt Institute, SMM has always been committed to working with international cobalt industry organizations, enterprises, and standard-setters to build a more efficient and comprehensive cobalt industry value chain and market information system. As one of China's largest non-ferrous metals information service providers, SMM has fully leveraged its global advantages to establish a full-ecosystem value information system centered on China, covering upstream mining (DRC + Indonesia), midstream processing, downstream battery materials and trading, battery cell and battery manufacturing, and terminal new energy and consumer electronics applications. SMM has participated in the Cobalt Institute conference and delivered keynote speeches for three consecutive years. I. Market Supply Analysis 1.1 China's Total Supply and Raw Material Structure Changes Since Q2 last year, the effective supply of crude cobalt hydroxide has declined significantly . In the short term, MHP, black mass, and other raw materials are squeezing the market share of cobalt hydroxide, a trend that warrants continued attention. In terms of the raw material structure of cobalt products, in Q1 this year, cobalt hydroxide accounted for only about 10% of the raw material structure, MHP imports rose to over 15% , and recycled raw materials climbed to over 30% . Among them, in the raw material composition of cobalt sulphate, the proportion of recycled raw materials increased significantly , with cobalt intermediate products falling to below 40% , and high-cobalt black mass reaching 30% . This structural change reflects a profound adjustment underway in China's cobalt raw material supply. 1.2 Production Outlook China's recycled cobalt products production was approximately 24,000 mt in 2025, and is expected to approach 30,000 mt in 2026, with a medium and long-term trend of edging up. In terms of MHP supply, production this month was somewhat affected by sulfur shortages in the short term, but in the long term, cobalt supply sourced from MHP is expected to continue increasing. II. End-Use Demand Analysis 2.1 NEV Market The ternary market share continued to be eroded by LFP, limiting overall growth. Meanwhile, affected by high cobalt prices and tight supply , cobalt consumption per mt of precursor declined. In Q1 this year, the weighted cobalt consumption per mt of precursor fell below 0.06 mt in metal content . Nevertheless, total cobalt demand from the NEV market continued to grow, but the growth rate was lower than previously expected . 2.2 3C Product Market The 3C product market also faced significant pressure. Since the end of last year, the sharp rise in chip prices drove up 3C product prices. In addition, to cope with cost pressure, some enterprises reduced cobalt usage in cathode materials by blending NCM , and cobalt demand for 3C applications is expected to decline this year . However, in the medium and long term, cobalt demand from 3C products still has room for growth. III. Price Trends and Outlook Regarding cobalt price trends, although theoretical calculations suggest that in Q2 to Q3 2026, concentrated arrivals of previously backlogged cobalt intermediate products at ports will cause the cobalt raw material supply-demand balance to temporarily shift to an inventory buildup state, putting downward pressure on cobalt prices, the limited amount of available cobalt intermediate products in the market, constrained by inventory levels and market sales pace , will provide strong support for cobalt prices. Prices are expected to edge up in the coming months, but there is a clear upside ceiling . She also noted that raw material inventory levels, other raw material supply (such as MHP and refined cobalt), and the shipment pace of cobalt intermediate products are the biggest uncertainties affecting price trends.

The 2026 SMM London H1 Seminar concluded on April 29 with great success, bringing together global metals and commodities leaders for a day of high-level dialogue and actionable insights. The seminar drew over 160 valid pre-registrations and more than 100 on-site attendees, gathering core practitioners, senior experts, research scholars and institutional representatives across the global non-ferrous metals industrial chain. Centered on copper, aluminum, lead and zinc, the event delivered in-depth insights into current industry performance, supply-demand shifts and future market outlooks. It also featured two high-level panel sessions with distinguished guests, who exchanged views on key industry highlights such as geopolitical impacts, global trade restructuring, cross-market arbitrage and divergent commodity fundamentals. The event comprehensively reviewed the macro backdrop of commodities as well as opportunities and risks in base metals, offering professional references and forward-looking insights for global non-ferrous market participants. SMM Industry Analysis: Copper, Aluminum, Nickel, Lead & Zinc Geopolitics and Metals: Pricing the New Global Risk Premium How rising geopolitical tensions are reshaping global supply chains, macro risk, and base metal price formation. Dr. Yanchen Wang, Managing Director of SMM Global UK Ltd., provided analysis on macro trends and the aluminum and nickel markets. From a macro perspective, he noted that global economic uncertainty has intensified, with the IMF cutting global GDP growth forecast. China's exports may serve as a key economic pillar in 2026. Power sector investment increased significantly from January to February 2026. The State Grid Corporation of China will ramp up investment during the "15th Five-Year Plan" period. In terms of the aluminum market, Chinese smelters saw improved profitability and higher operating rates. Weak demand in Q1 combined with rising aluminum prices drove inventory to rise. Outside China, new aluminum capacity additions in Indonesia in 2026 are expected to be substantial, with SMM estimating approximately 950,000 mt of new aluminum smelting capacity potentially coming online in Indonesia in 2026. Angola is attracting Chinese investment thanks to its hydropower advantages. In the nickel market, given the Indonesian government's tightening of quotas, SMM estimates Indonesia's RKAB supplementary quotas this year at approximately 15%-20%. In terms of supply outside China, constrained by a lack of new projects, imports from the Philippines are expected to remain at around 19 million mt. Considering the impact of the rainy season on production, the market is expected to maintain a tight balance. Shairaz Ahmed, Principal Market Analyst & Client Advisor at SMM, shared insights on the global copper market. He noted that global copper cathode demand will continue to grow from 2025 to 2030, with demand potentially reaching around 32 million mt by 2030 in an optimistic scenario. China's copper concentrates still rely on imports, and global copper concentrates supply will remain tight from 2026 to 2028, with the downward trend in spot TC not yet over. Meanwhile, global copper cathode production growth will slow down in the future, and the market will most likely fall into a supply deficit from 2027 to 2030, providing long-term support for copper prices. Yueang He, Senior Lead & Zinc Analyst at SMM, interpreted the lead-zinc market trends for 2026. Looking at the global zinc concentrates market in 2026, he stated that although production in China, Africa, and some projects continues to ramp up, production cuts at large mines are suppressing overall supply, with China's zinc concentrates production estimated to be up 4.8% YoY to 3.95 million mt in 2026; European smelting, affected by electricity prices fluctuations, may see selective minor production cuts of 60,000-100,000 mt. Overall, the zinc concentrates market in and outside China will maintain a tight balance in 2026, with refined zinc showing a surplus in China and a deficit ex-China. In terms of lead market, he stated that global lead mine supply is gradually recovering, but the concentrates market remains tight, and TC is unlikely to rebound significantly in the short term. He estimates that the loose supply situation in the global refined lead market will persist until 2028, with high visible inventory on both exchanges combined with slightly soft battery demand in China limiting the upside room for lead prices. Panel Session — Positioning and Price Signals: What Are Commodity Markets Telling Us? Understanding market positioning, inventory signals, and cross-market arbitrage. Moderator: Shairaz Ahmed, Principal Analyst & Client Advisor at SMM Panelists: David Lilley, Director and Co-CIO at Drakewood Capital Management Limited Maruis Van Straaten, Metals Research Analyst at Squarepoint Gregory Shearer, Head of Base Metals and Precious Metals Strategy at J.P. Morgan Loic Jonchery, Base Metals Trader at Gunvor The panelists focused on current mainstream cross-market arbitrage strategies, emphasizing the need to closely track premiums and futures price spreads across various commodities, while comparing price spread performance across upstream and downstream categories such as cathode materials, scrap, and intermediate products, leveraging signals to identify arbitrage opportunities. The current market is subject to multiple influences including policy constraints, supply adjustments, and changes in industry rules, with the overall landscape becoming increasingly fragmented. China's policies have imposed a supply ceiling, compounded by industry framework adjustments and lengthy implementation cycles, keeping small and medium-sized enterprise operations and the supply side persistently tight, increasing market friction, and creating significant uncertainty in arbitrage trading. In this complex environment, price spread fluctuations have amplified and ranges continued to widen, with enhanced trend continuity in underlying markets; combined with cross-regional approval processes and circulation restrictions, traditional arbitrage logic has broken down and trade execution difficulty has increased. At the sub-sector level, the copper market attracted high attention, while structural distortions in nickel and other categories became prominent, making conventional arbitrage and sales models difficult to execute consistently; quality arbitrage opportunities concentrated among entities with balance sheet advantages, while ordinary participants became more cautious in decision-making, with overall trading behavior turning more conservative. Overall, the guests believed that there is no universally applicable, low-risk cross-market arbitrage strategy in the current market. Logic across different sub-markets has diverged significantly, and conducting related trades requires thorough assessment of policy, circulation, and fundamental risks. Panel Session: Superpowers and the Battle for Base Metals Moderator: Dr. Yanchen Wang, Managing Director of SMM Global UK Ltd. Panelists: Natalie Scott-Gray, Senior Metals Analyst, Middle East, North Africa and Asia, StoneX Max Layton, Global Head of Commodities Strategy, Citi Helen Amos, Managing Director and Commodities Analyst, BMO Capital Markets Amy Gower, Executive Director, Head of Metals and Mining Commodities Strategy, Morgan Stanley Amy Gower stated that since H2 last year, they have held a structurally bullish view on aluminum fundamentals: China's aluminum capacity is approaching its ceiling, and combined with expectations of incremental supply from Indonesia, the bullish logic for the aluminum industry is concentrated in H2. Currently, supply-side tightening in the aluminum market has gradually materialized, but the tightness has not been fully reflected in futures prices, and is instead more evident in strengthening spot premiums. Year-to-date, three-month aluminum has risen 18%, with European spot premiums at 27%. In addition, the guests noted that due to geopolitical factors, countries are increasingly prioritizing self-sufficiency and controllability of critical material supply chains, rather than relying on globalized supply allocation. Combined with various policy interventions, the previously freely flowing global commodities market is gradually moving toward regionalization and localized fragmentation. On the trade front, markets have become more unpredictable, and understanding the market is crucial. Some guests mentioned that interest rate trajectory is a key variable, and they expect that after interest rates decline from 2027 to 2028, supply-demand and inventory dynamics will further materialize. Meanwhile, upgraded supply chain governance and the normalization of strategic reserves across countries will provide long-term support for commodities price resilience. Session 4: How Do SMM Data and Information Products Empower Commodities Decision-Makers? As a globally renowned non-ferrous metals price assessment platform, Shanghai Metals Market (SMM) is committed to providing superior data to clients worldwide, empowering them to make more precise decisions. SMM understands that in a complex and ever-changing market environment, accurate and timely data is the key to success. To this end, SMM has built a comprehensive data platform covering multiple metals including copper, aluminum, lead, zinc, and nickel. Taking the copper market as an example, the SMM database covers the entire industry chain from mines, smelting, trading, and inventory to downstream demand, offering over 10,000 key indicators across sub-categories such as copper cathode, copper scrap, copper concentrates, copper anode, and sulphuric acid, including real-time spot prices, futures data, supply-demand balance tables, operating rates, and social inventory, comprehensively meeting clients' analytical needs. To make data access simpler and more convenient, SMM launched the SMM Excel Add-in. Users need no programming or API knowledge to browse, select, and sync massive amounts of data with a single click within the familiar Excel environment. In addition to easy-to-use data tools, SMM also offers professional price membership services and in-depth market analysis reports. Whether you are a trader who needs real-time price references, an analyst who relies on granular data to build models, or an enterprise manager seeking market insights, you can find the right solution at SMM. Coffee Break and Networking With this, the 2026 SMM H1 London Seminar has come to a successful conclusion. SMM sincerely appreciates the strong support from all industry peers and partners.

POSCO Future M recently signed an exclusive development agreement with a Japanese automaker for cathode materials used in all-solid-state batteries, according to industry sources on May 5. Under the deal, POSCO Future M will exclusively develop and supply cathode materials for the automaker’s all-solid-state battery project. The partner is reportedly a mid-sized carmaker. This marks the first case in which a Japanese automaker has designated a Korean materials company as the sole supplier of cathode materials for all-solid-state batteries.

According to customs data, China imported 6,835 tonnes of lithium hydroxide in March 2026, up 66% month-on-month and double year-on-year. Of this, 2,927 tonnes came from Indonesia, accounting for about 48% of total imports, while approximately another 40% came from Australia and South Korea. During the same period, China exported 3,143 tonnes of lithium hydroxide, up 20% month-on-month but down 26% year-on-year. In terms of exports, 2,059 tonnes went to South Korea and 278 tonnes to Japan. Since 2025, the combined effect of diverging domestic and overseas demand and continued overseas supply of lithium salts has caused excess lithium hydroxide to flow one‑directionally into the Chinese market. From the fourth quarter of 2025, domestic imports of lithium hydroxide remained at persistently high levels, while exports continued to weaken. Entering the first quarter of 2026, total imports exceeded 16,000 tonnes, while total exports were less than 8,000 tonnes, resulting in net imports of more than 8,000 tonnes — a complete reversal of the trade pattern characterised by "shrinking exports and surging imports". In terms of major import sources, Japan, South Korea, Australia and Indonesia accounted for a significant share. The key reason is that both domestic demand and prices are more favourable than overseas markets: In the third quarter of 2025, driven by expectations of subsidy policy reduction in 2026 and bullish sentiment on raw material prices, demand for ternary cathode materials remained strong in the fourth quarter. While overseas lithium hydroxide production lines maintained relatively stable output, downstream demand fell short of expectations, leading to rising inventory pressure among overseas holders – who had a strong incentive to destock towards the end of the year. Price increases for lithium hydroxide overseas lagged behind those in China, creating a profitable import arbitrage window. Coupled with the anticipated launch of lithium hydroxide futures in 2026, the number of trading participants involved in lithium hydroxide imports increased significantly. Given the long negotiation cycles and relatively stable supply channels with overseas suppliers, lithium hydroxide from Japan, South Korea and Australia has continued to flow into China. However, it is worth noting that although the continuous increase in import volumes has made lithium hydroxide more readily available for trading in China from Q4 2025 to Q1 2026, the quality of the lithium hydroxide flowing into the country is uneven due to the relatively customized production requirements of ternary cathode materials. As a result, there is a certain lag before it actually reaches material manufacturers. Looking ahead, as long‑term orders are steadily delivered, import volumes are expected to remain relatively high, while the potential for export growth is likely to remain limited.

The 2026 SMM Tier1 List was officially unveiled at the banquet of the CLNB 2026 (the 11th New Energy Industry Chain Expo) , organized by Shanghai Metals Market (SMM). This conference, held at Suzhou International Expo Center, China from April 8-10, 2026, served as the premier platform for advancing the global clean energy ecosystem. SMM Global Tier 1 Supplier Rankings In 2022, China's new energy industry chain accelerated its expansion, while overseas automakers and energy storage enterprises saw surging demand for Chinese supply chains. Coupled with information barriers caused by the pandemic, the international market urgently needed an objective and fair benchmark to bridge the two-way needs between Chinese enterprises going global and overseas clients optimizing their supply chains. Leveraging long-term data accumulation and professional research on the entire new energy industry chain, the SMM TIER 1 list emerged to meet this demand and was officially launched for the first time in 2023 . SMM Global Tier 1 Supplier Rankings , launched by SMM , serves as a global benchmark for the new energy industry. Centered on "transparent methodology + independent auditing," it incorporates third-party verification from institutions like Dun & Bradstreet and SGS to establish globally comparable industry standards. After years of refinement, the list now covers 10+ sub-sectors , including energy storage, lithium battery, and PV, etc., gaining widespread recognition from global industry chain clients. It has become a core reference for international market collaboration, serving as both a "golden benchmark" for industrial strength and a vital bridge for global resource alignment. 2026 SMM Global Tier 1 Supplier Rankings (The following enterprises are listed in no particular order) Analyst Views on Energy Storage Battery Cells Utility Storage Flourishes, Chinese Players Dominate BTM (Behind-the-Meter) Storage Storage Unlocks a Second Growth Curve for the Energy Storage Market Fast-Growing Enterprises Make Breakthrough, New and Established Players Jointly Form a Positive Market Landscape Representative Enterprises of Utility Energy Storage Battery Cell Contemporary Amperex Technology Co., Limited BYD Company Limited EVE Energy Co., Ltd. REPT Battero Energy Co., Ltd. Gotion High-tech Co., Ltd. Xiamen Hithium Energy Storage Technology Co., Ltd. CORNEX New Energy Co., Ltd. Zhejiang Narada Power Source Co., Ltd. CALB Technology Group Co., Ltd. Guangzhou Great Power Energy Technology Co., Ltd. SEVB Guangzhou Rongjie Energy Technology Co., Ltd. Jiangxi Ganfeng LiEnergy Technology Co., Ltd. Shenzhen Pengcheng Unlimited New Energy Co., Ltd. Envision Dynamics Technology(Jiangsu) Co., Ltd. SVOLT Energy Technology Co., Ltd. China Automotive New Energy Battery Technology Co., Ltd. Representative Companies for BTM (Behind-the-Meter) Storage Cells REPT Battero Energy Co., Ltd. Guangzhou Great Power Energy Technology Co., Ltd. EVE Energy Co., Ltd. Pylon Technologies Co., Ltd Xiamen Ampace Technology Co., Ltd. Gotion High-tech Co., Ltd. Representatives of Fast-Growing Battery Cell Enterprises Guangzhou Great Power Energy Technology Co., Ltd. Guoke Energy (Chuzhou) Co., Ltd. CORNEX New Energy Co., Ltd. China Automotive New Energy Battery Technology Co., Ltd. Analyst Views on Energy Storage Integration Grid-Forming Technology Consolidates the Foundation of New-Type Power Systems Power Generation and Grid Side Forge the Global Benchmark Echelon for Utility-Scale Energy Storage Integration Expansion of Behind-the-Meter (BTM) Scenarios Pioneer New Growth Space for Distributed Energy Storage Representative Enterprises of Grid-Forming ESS Technology Nanjing NR Electric Co., Ltd. Huawei Digital Power Technologies Co., Ltd. Sungrow Power Supply Co., Ltd. Xiamen Kehua Digital Energy Technology Co., Ltd. Power Generation and Grid-Side ESS Integrators Canadian Solar Inc. Xyz Storage Technology Corp. Ltd. RCT POWER Sungrow Power Supply Co., Ltd. Beijing HyperStrong Technology Co., Ltd. CRRC ZHUZHOU ELECTRIC LOCOMOTIVE RESEARCH INSTITUTE CO.,LTD. Envision Energy Co., Ltd. Risen Energy Co., Ltd. China Electric Equipment Group Energy Storage Technology Co., Ltd Guangzhou Zhiguang Electric Co., Ltd. BYD Energy Storage Co., Ltd. Huawei Digital Power Technologies Co., Ltd. Jinko Solar Co., Ltd. Sieyuan Electric Co., Ltd. Shanghai Robestec Energy Co., Ltd. Contemporary Amperex Technology Co., Limited Nanjing NR Protection Electric Co., Ltd. TrinaSolar Co., Ltd. Behind-the-Meter (BTM) ESS Integrators Weiheng Intelligent Technology Co., Ltd. Shanghai Hoenergy Power Technology Co. Ltd. Xi'an JD Energy Co., Ltd. Huawei Digital Power Technologies Co., Ltd. Fox Ess Co.,Ltd Sungrow Power Supply Co., Ltd. Shanghai Robestec Energy Co., Ltd. Sigenergy Technology Co., Ltd. Xiamen Ampace Technology Co., Ltd. Pylon Technologies Co., Ltd. Suzhou PotisEdge Co., Ltd. Wanbang Digital Energy Co., Ltd. Ningbo Deye Technology Co., Ltd. Shenzhen ATESS Power Technology Co., Ltd. Analyst Viws on PV Industry Technology Leadership, Global Benchmark Full-Chain Layout, Scale-Driven Leadership Inverter Suppliers Sungrow Power Supply Co., Ltd. Huawei Digital Power Technologies Co., Ltd. Zhuzhou CRRC Times Electric Co., Ltd. TBEA Co., Ltd. Shanghai Chint Power Systems Co., Ltd. Ginlong Technologies Co., Ltd. GoodWe Technologies Co., Ltd. Xiamen Kehua Digital Energy Technology Co., Ltd. Shenzhen Kstar Science & Technology Co., Ltd. Shandong Huadian Energy Saving Technology Co., Ltd. Beijing SOJO Electric Co., Ltd. SolaX Power Network Technology (Zhejiang) Co., Ltd. Sigenergy Technology Co., Ltd. PV Module Suppliers LONGi Green Energy Technology Co., Ltd. Jinko Solar Co., Ltd. TrinaSolar Co., Ltd. JA Solar Technology Co., Ltd. Tongwei Co., Ltd. Chint New Energy Technology Co., Ltd. GCL SI Technology Co., Ltd. Hengdian Group DMEGC Magnetics Co., Ltd. Canadian Solar Inc. TCL Zhonghuan Energy Technology (Jiangsu) Co., Ltd. Yingli Solar Energy Development Co., Ltd. Risen Energy Co., Ltd. Shanghai AIKO New Energy Co., Ltd. Suzhou Jolywood Solar Technology Co., Ltd. DAS Solar Energy Technology Co., Ltd. SolarSpace Ningbo Ulica Solar Co., Ltd. ZNShine PV-Tech Co., Ltd. AE Solar Solar Tracker Suppliers Jiangsu Guoqiang Xingsheng Energy Technology Co., Ltd. Arctech Solar Antai New Energy ESET Solar Trina Tracker VG Solar Array Technologies Antai New Energy Versol Solar Hangzhou Huading New Energy Co., Ltd. Analyst Views on Advanced Equipment Battery manufacturing equipment enterprises forge core process for lithium battery mass production Material manufacturing equipment manufacturers build a solid foundation for efficient production across the industry chain Battery Manufacturing Equipment Enterprises Wuxi Lead Intelligent Equipment Co., Ltd. Suzhou Maxwell Technologies Co., Ltd. Shenzhen Yinghe Technology Co., Ltd. Shenzhen S.C New Energy Technology Co., Ltd. Zhejiang Hangke Technology Co., Ltd. Wuxi Autowell Technology Co., Ltd. Guangdong Lyric Robot Automation Co., Ltd. Yingkou Jinchen Machinery Co., Ltd. Shenzhen Colibri Technologies Co., Ltd. Shenzhen Kstar Science & Technology Co., Ltd. Fujian Nebula Electronics Co., Ltd. Mikrouna (Shanghai) Intelligent Technology Ltd. Shenzhen Manst Technology Co., Ltd. Ningde Sike Qi Intelligent Equipment Technology Co., Ltd. Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. Shenzhen Geesun Intelligent Technology Co., Ltd. Material Manufacturing Equipment Enterprises Jiangsu Myande Energy-saving Evaporation Equipment Co., Ltd. Jiangsu Huahong Environmental Protection Equipment Co., Ltd. Hengli Eletek Co.,Ltd Enerpat (Jiangsu) Environmental Co., Ltd. Energy Digital Manufacturing (Xi'an) Technology Co., Ltd EFALI Pump Industry(Guangdong) Co.,Ltd Guangdong Yifu Intelligent Equipment Co., Ltd. Ningbo Kio Flow Instruments Co., Ltd. Shijiazhuang Dingwei Chemical Equipment Engineering Co., Ltd. Gaodao Sealing Technology (Suzhou) Co., Ltd. RIGHTLEDER (Shanghai) Technology Co., Ltd. Guizhou micro-chemical Technology Co., Ltd. Zhongyu (Tianjin) New Energy Technology Co., Ltd. Changzhou Primary Equipment Co., Ltd. Jiangxi RONT Environmental Protection Equipment Co., Ltd. Ningbo Souwest Magnetech Development Co., Ltd. Hebei Yanming Chemical Equipment Co., Ltd. Analyst Views on Iron Phosphate LFP Core Precursor, Cornerstone of the Lithium Battery Industry Chain Ammonium Process for Market Stability, Iron Process for Cost Reduction, Multiple Processes in Parallel Technology Iteration Drives Cost Reduction, Consolidating a Stable Supply Chain Foundation Representative Enterprises of the Ammonium Process Route Guangzhou Tinci Materials Technology Co., Ltd. Guizhou Hention New Energy Materials Co., Ltd. Guizhou Yayou New Materials Co., Ltd. Hubei Xingyou New Energy Technology Co., Ltd. CNGR Advanced Material Co., Ltd. Guizhou Phosphate Chemical New Energy Technology Co., Ltd. Hunan Yacheng New Energy Co., Ltd. Representative Enterprises of the Iron Process Route Shandong Tsaker New Material Co., Ltd. Yuntu New Energy Materials (Jingzhou) Co., Ltd. Tangshan Hengkun New Energy Materials Co., Ltd. Representative Enterprises of the Sodium Process Route Henan Baili New Energy Materials Co., Ltd. Tongling Nayuan Materials Technology Co., Ltd. Analyst Views on LFP The Dominant Material in Both Energy Storage and NEV Markets Leading Across Multiple Technology Routes, Chinese Enterprises Setting Global Benchmarks Supporting the Scaling and High-Quality Development of the New Energy Industry Representative Enterprises of the Iron Phosphate Process Hunan Yuneng New Energy Battery Materials Co., Ltd. Hubei Wanrun New Energy Technology Co., Ltd. Zhejiang Youshan New Material Technology Co., Ltd. Shandong Fengyuan Lithium Energy Technology Co., Ltd. Changzhou Liyuan New Energy Technology (LBM) Co., Ltd. Guizhou Anda Technology Energy Co., Ltd. Hubei Rongtong High-tech Advanced Materials Group Co., Ltd. Gotion High-tech Co., Ltd. Representative Enterprises of Ferrous Oxalate Method Fulin Precision Machining Co., Ltd. Hunan Pengbo New Material Co., Ltd. Representative Enterprises of Liquid-Phase Method Shenzhen Dynanonic Co., Ltd. Representative Enterprises of Iron Oxide Red Method Sichuan GCL Lithium Battery Technology Co., Ltd. Analyst Views in Ternary Cathode Core Material for High-End Power, Accelerating High-Nickel Technology Iteration Deepening Integrated Resource Layout, Leading Global Industry Direction Enabling Long Driving Range and High-End Upgrades for NEVs Representative Enterprises of Ternary Cathode Material Gansu Jinchuan Reshine New Material Co., Ltd. Tianjin B&M Science and Technology Co., Ltd. Ningbo Ronbay New Energy Technology Co., Ltd. Guangdong Brunp Recycling Technology Co., Ltd. Minmetals New Energy Materials (Hunan) Co., Ltd. Tianjin Guoan Mengguli New Materials Science&Technology Co., Ltd. Yibin Libao New Materials Co., Ltd. Analyst Views on Anode Materials Industry Leaders Drive Iteration More New Players Emerge Industry Upgrades Accelerate Anode Material Enterprises Tianmulake Excellent Anode Materials Co., Ltd. Lanxi Zed New Energy Materials Co., Ltd. Anhui Iametal New Energy Technology Co., Ltd. BTR New Material Group Co., Ltd. Shanghai Shanshan Technology Co., Ltd. Shijiazhuang Shangtai Technology Co., Ltd. Guangdong Kaijin New Energy Technology Co., Ltd. Hunan Zhongke Shinzoom Co., Ltd. Jiangxi Zichen Technology Co., Ltd. Shinghwa Advanced Material Technology (Meishan) Co., Ltd. Analyst Views on Solid-State Battery Industry Next-Generation Battery Technology, Semi-Solid-State Mass Production Accelerates Full Supply Chain Matrix Takes Initial Shape, Ushering in a New Era of Diversified Application Scenarios Representative Enterprises of Solid-State Battery Technology Contemporary Amperex Technology Co., Limited Qingtao (Kunshan) Energy Development Group Co., Ltd. Beijing WELION New Energy Technology Co., Ltd. China Automotive New Energy Battery Technology Co., Ltd. Zhejiang FunLithium New Energy Technology Co., Ltd. Hytzer New Energy (Changzhou) Co., Ltd. Representative Enterprises of Solid-State Electrolyte Shanghai Emperor of Cleaning Hi-Tech Co., Ltd. Liyang CASOL Energy Technology Co., Ltd Zhejiang FunLithium New Energy Technology Co., Ltd. LionGo (Changzhou) New Energy Co., Ltd. Guangzhou Tinci Materials Technology Co., Ltd. Analyst Views on Sodium-Ion Battery Industry An Emerging Force in Energy Storage and Low-Speed Mobility, with Prominent Cost Advantages Self-Controlled Entire Industry Chain, Scaled Capacity Release Forging a Globally Leading Sodium-Ion Battery Industry Landscape Representative Enterprises of Sodium-Ion Battery Cells Shanxi Huana Xinneng Technology Co., Ltd. Highstar Sodium Battery (Guangdong) Co., Ltd. Veken Technology.,Ltd. Jiangsu Pylon Battery Co., Ltd. Jiangsu Yingong Technology Co., Ltd. Shuangdeng Group Co., Ltd. Beijing Zhongke Hai Na Technology Co., Ltd. Chaowei Power Group Co., Ltd Representative Enterprises of Sodium-Ion Battery Anode Chengdu Best Technology Co., Ltd. Guangdong Rongna New Energy Technology Co., Ltd. Wuhan Tianna Technology Co., Ltd. Zhuhai Nagan New Energy Technology Co., Ltd. Hunan Nake New Materials Co., Ltd. Representative Enterprises of Sodium-Ion Battery Cathode Materials Ningbo Ronbay New Energy Technology Co., Ltd. Jiangsu Zoolnasm Energy Technology Co., Ltd. Shenzhen Jiana Energy Technology Co., Ltd. Xiamen Xingrong New Energy Technology Development Co., Ltd. Huzhou Yingna New Energy Materials Co., Ltd. Yibin Tianyuan Lithium Battery New Materials Co., Ltd. Anhui Xinna New Materials Technology Co., Ltd. Zhejiang NaTRIUM Energy Co., Ltd. Representative Enterprises of Sodium-Ion Battery Electrolyte Zhuhai Smoothway Electronic Materials Co., Ltd. LionGo (Changzhou) New Energy Co., Ltd. Huzhou Kunlun Power Battery Materials Co., Ltd. Analyst Views on Recycling Industry Core Carrier of Lithium Battery Green Recycling, Key Support for Dual-Carbon Strategy Full Value Chain Taking Shape, Integrated Leaders Driving Closed-Loop Development Facilitating Sustainable Development Across the Full Life Cycle of the Lithium Battery Industry Representative Enterprises in Lithium Battery Recycling Guangdong Brunp Recycling Technology Co., Ltd. Zhejiang Huayou Recycling Technology Co., Ltd. GEM Co., Ltd. Shenzhen Sunwoda Recycled Materials Co., Ltd. Anhui Nandu Huabo New Materials Technology Co., Ltd. Anhui Xunying New Energy Group Co., Ltd. Wuhan Power Battery Regeneration Technology Co., Ltd. Shenzhen Jiecheng New Energy Technology Co., Ltd. Anhui Hengchuangruineng Environmental Protection Technology Group Co., Ltd. Jiujiang Tinci Resource Recycling Technology Co., Ltd. Jiangxi Ganfeng Circular Technology Co., Ltd. Ganzhou Longkai Technology Co., Ltd. Shangrao Huanli Circular Technology Co., Ltd. Ganzhou Tengyuan Cobalt New Materials Co., Ltd. Zhejiang Tianneng New Materials Co., Ltd. Guangdong Fangyuan New Material Group Co., Ltd. Guizhou CNGR New Energy Technology Co., Ltd. Hunan Keyking Recycling Technology Co., Ltd. Shandong Meiduo Technology Co., Ltd. Anhui Nandu Huabo New Materials Technology Co., Ltd. Shanxi Yaxin Green Qingyuan Circular Technology Co., Ltd. Henan Zhongxin New Materials Co., Ltd. At the banquet on the first day of the CLNB 2026 (The 11th New Energy Industry Chain Expo), Zhengyong Huang, Deputy General Manager of the Iron Phosphate Division of Guangzhou Tinci Materials Technology Co., Ltd., and Liang Liu, Deputy General Manager of the Energy Storage Division of REPT Battero Energy Co., Ltd., took the stage to receive the awards on behalf of the award winning enterprises. Shirley Wang, Vice President of SMM, presented awards to the winners! SMM congratulates the above award-winning enterprises and thanks all industry peers for their support!