In mid-April, CATL announced plans to invest 30 billion yuan to establish a wholly-owned subsidiary, Times Resources Group, registered in Xiamen and positioned as a professional investment, operation, and management platform in the new energy minerals sector. This major move is not only a key step for CATL in building a closed-loop entire industry chain of "ore — materials — battery — recycling," but will also inject strong momentum into the extraction and reuse of rare and precious metal resources, driving the battery recycling industry from standardized development toward a new phase of technological breakthroughs and scale expansion. The core mission of Times Resources Group is to integrate global critical minerals resources such as lithium, nickel, and cobalt, while expanding into high-quality rare and precious metal mining projects. From an industry perspective, lithium, nickel, and cobalt are core raw materials for power batteries, while rare and precious metals such as gold, silver, and platinum group metals are indispensable in electronic devices and catalysts. Through this 30 billion yuan capital deployment, CATL can both ensure that its primary lithium resources self-supply rate rises above 35% and keep lithium chemicals costs below 50,000 yuan/mt, while also establishing stable raw material connection channels for rare and precious metal regeneration after battery recycling through full industry chain control of mineral resources. More notably, CATL hired Chen Jinghe, founder of Zijin Mining, as a mining consultant, leveraging his extensive experience in mineral exploration and extraction to further optimize resource development processes. This means the upstream extraction segment will place greater emphasis on green and efficient technology applications, such as adopting efficient leaching technology for low-grade ore and comprehensive recovery processes for rare and precious metal associated ore, improving resource utilization rate from the source, laying the raw material foundation for rare and precious metal regeneration in subsequent battery recycling, and achieving synergy between "primary extraction + secondary recycling."

[200MW/800MWh New-Type ESS Power Station Project Lands in Zhengzhou, Henan] Shenzhen Yichu Energy Technology Co., Ltd. announced on its official account that on June 10, Yichu Energy reached a strategic cooperation agreement with the People's Government of Shangjie District, Zhengzhou City, Henan Province. Both parties plan to jointly invest in and construct a new-type ESS power station project in the local area. According to the agreement, the project will be planned, invested, and constructed based on the local new energy development process, with an expected total construction scale of 200MW/800MWh. After the project is completed and put into operation, it will significantly enhance the peak shaving capacity of the local power grid, effectively improve the consumption level of new energy, and provide strong support for the optimization and stable supply of the regional energy structure.

In April 2024, SANY forged a strategic partnership with an Australian customer. Prior to this, SANY had already established the largest integrated hydrogen production and refueling station in China, and this collaboration marked its first foray into introducing relevant technologies to the international market. On May 20 this year, SANY officially delivered custom-developed 200 Nm³/h skid-mounted hydrogen production and refueling equipment to the customer, signifying a crucial step forward in the internationalization of its green energy products. Leading Technology Drives Efficient Hydrogen Refueling The project employs industry-leading flexible electrolysis water hydrogen production technology, paired with an integrated control system to ensure stable and efficient operation of the equipment. A single system boasts dual-stage hydrogen compression and storage capabilities at 50 MPa and 90 MPa, meeting the hydrogen refueling needs of both 35 MPa commercial vehicles and 70 MPa passenger vehicles. This means that whether it's freight vehicles or daily-use passenger vehicles, they can all be quickly and safely refueled at this integrated station. Adhering to Global Standards, Ensuring Safe and Compliant Implementation To successfully enter the Australian market, the project strictly adhered to local market standards during production and has obtained comprehensive certifications from Bureau Veritas (BV) and TÜV SÜD: AS 3000 Electrical Safety Certification: Achieving Australia's highest Level 2 standard. ASME/AS1200 Dual Certification: Pressure vessels comply with both US and Australian standards, holding ASME U3 stamp certification. Fatigue life exceeds 20,000 cycles. SAE J2601 Hydrogen Refueling Protocol Testing: Conforming to international fueling standards, capable of refueling 70 MPa passenger vehicles within 3 minutes. Design-Oriented Development and Rigorous Safety Analysis SANY adopts a forward development process based on fundamental design principles. During the development process, the project team conducted comprehensive risk assessment and management for the PEM (Proton Exchange Membrane) hydrogen production and purification system and the high-pressure hydrogen refueling system, covering hazard identification, hazard and operability analysis, safety integrity level assessment, and layer of protection analysis, among other aspects. These analytical methods facilitate the precise identification of risks at an early stage of the project, laying a solid foundation for creating safe, intelligent, and resilient hydrogen energy solutions. Leveraging advanced technology, stringent safety standards, and global collaboration, SANY's success in the Australian market will serve as a pivotal step in promoting sustainable development. SANY remains focused on the clean energy sector, continuously deepening its expertise and making breakthroughs in wind energy, solar energy, hydrogen energy, energy storage systems (ESS), and microgrid technologies. Xiang Wenbo, Chairman of SANY Heavy Industry, stated, "SANY is accelerating its transition towards decarbonization and green growth, committed to injecting momentum into the industry's green development.""

Recently, the 0.8mm titanium pickling coil developed by Panzhihua Iron & Steel Group Xichang Panxin Vanadium-Titanium Metal Materials Co., Ltd. (hereinafter referred to as "Panxin Vanadium-Titanium") was successfully rolled off the production line. This product not only sets a new record for the thinnest specification of titanium pickling processed by Panzhihua Iron & Steel Group, but also marks a key technological leap forward in the high-end titanium processing sector for the Group. Since 2025, Panxin Vanadium-Titanium has focused on process upgrades and quality improvements, accelerating the iteration of product technologies and the development of new products. To overcome the bottleneck in processing thin-gauge titanium materials, the company established a special pickling task force, collaborating with technical teams such as the Panzhihua Iron & Steel Group Research Institute. Through a series of innovative measures, they overcame multiple technical barriers in continuous production. In terms of technological innovation, Panxin Vanadium-Titanium constructed a three-dimensional control system integrating "process parameters + equipment operation + quality monitoring," combined with an intelligent mapping model of "process parameters + quality indicators," achieving precise control over the entire production process. The company developed six core technologies, including precise weld seam control, dynamic tension compensation, and intelligent acid circulation, pushing the titanium coil pickling process beyond the 1mm design limit of the equipment unit and achieving a dual improvement in production efficiency and quality. Upon detection, the 0.8mm pickled titanium product rolled off the line achieved a 100% qualification rate, with a comprehensive finished product rate of 98.5% and a surface defect rate below 3%, surpassing the internationally accepted full-length control standard of 5%. A series of data highlights Panzhihua Iron & Steel Group's leading strength in the high-end titanium processing sector. According to the project leader, during the technological development process, the R&D team systematically refined a technical specification system of 15 key process standards, providing reliable technical support for the subsequent development of ultra-thin-gauge products and further promoting the application of Panzhihua Iron & Steel Group's titanium materials in high-end markets such as nuclear power, aviation, and marine engineering. Currently, Panxin Vanadium-Titanium has joined forces with institutions such as the Institute of Metal Research, Chinese Academy of Sciences, to launch the second phase of the technological breakthrough plan, focusing on the R&D of laser cleaning as an alternative to pickling processes. This technological innovation aims to drive the titanium processing industry towards greener and smarter upgrades, injecting new momentum into the construction of Ansteel Group's core supporting capabilities as the leader of the titanium and new materials industry chain. The breakthrough in the 0.8mm titanium pickling technology represents a significant milestone for Panzhihua Iron & Steel Group in the high-end titanium sector. Looking ahead, Panzhihua Iron & Steel Group will continue to prioritize innovation-driven development, deepen technological upgrades and product iterations, and contribute more "Panzhihua Iron & Steel Group solutions" to the high-quality development of China's titanium industry.

SMM News on May 15: In the mid-to-late April, many PV industry chain enterprises successively released their performance reports for the full year of 2024 and Q1 2025. Among them, three PV inverter enterprises, including Sungrow, Deye Technology, and Sineng Electric, all achieved remarkable performance. SMM has compiled the performance of these three PV inverter enterprises, as detailed below: Sungrow's Net Profit Surpasses 10 Billion Yuan for the First Time, Achieving a Strong Start in Q1 According to Sungrow's annual report data, in 2024, Sungrow achieved a total revenue of 77.857 billion yuan, up 7.76% YoY. The net profit attributable to shareholders of the publicly listed firm reached 11.036 billion yuan, up 16.92% YoY. It is worth mentioning that although the growth rate of its annual performance slowed down, from the perspective of net profit, achieving a net profit surpassing 10 billion yuan for the first time is truly remarkable in the current PV industry chain, which is in a downturn cycle. During an investor activity survey, Sungrow also mentioned that amidst slowing industry growth, intensified competition, and widespread losses, it was not easy for the company to still achieve growth in revenue and profit. This was mainly due to the continuous prominence of the company's core competitiveness, the continuous expansion of its brand influence, its consistent focus on the main track, its adherence to in-depth development, the implementation of a full-coverage strategy for core businesses, and the full play of its advantages in the global marketing and service network, leading to continuous improvements in brand power, marketing power, product power, and service power. In terms of business segments, Sungrow's profits mainly come from three major businesses: PV inverters, ESS, and new energy investment and development. Specifically, in terms of PV inverters, the company's PV inverter business achieved stable growth in 2024, with shipments of 147GW in 2024, up 13% YoY, maintaining a leading position in the industry. In terms of ESS, the company's ESS shipments in 2024 reached 28GWh, up 167% YoY, with a slight improvement in profitability. This was mainly due to the strong global market demand and the company's deep cultivation of the ESS market, which has formed a good reputation and brand image. In terms of new energy investment and development, although revenue slightly decreased in 2024, profitability maintained positive growth. This was mainly due to the company's further strengthening of its refined management capabilities throughout the entire project development process, its adherence to low-cost, high-quality, and systematic development in domestic projects, its focus on producing based on sales in household PV, its continuous optimization of refined channel management, and the shortening of grid connection cycles. In terms of gross profit margins, the ESS business ranked first among Sungrow's three major businesses with a gross profit margin of 36.69%. The gross profit margin for power electronic conversion equipment such as PV inverters was 30.9%, and the gross profit margin for new energy investment and development was 19.4%. In Q1 2025, amid a complex and ever-changing external environment, Sungrow continued to achieve a strong start to the year. The company's revenue in Q1 was 19 billion yuan, up 50% YoY, and its net profit attributable to shareholders of publicly listed firms was 3.83 billion yuan, up 82% YoY. Sungrow stated that, in terms of revenue structure, inverters maintained healthy growth YoY, energy storage systems (ESS) achieved rapid growth, and revenue from new energy investment and development business declined, primarily due to an increase in the proportion of low-margin residential PV business revenue. Previously, the US's reciprocal tariff continued to impact the market. Some investors inquired about the company's shipment pace and price changes. Sungrow indicated that PV inverters were being shipped normally. For the ESS business in the US market, shipments had recently been suspended, but the market remained intact, merely postponed; in other markets, the shipment pace was generally in line with expectations. Overall prices remained stable with a slight decline. Regarding the shipment target for the ESS market in 2025, Sungrow stated that the company's global ESS shipment target for 2025, set at the beginning of the year, was 40-50 GWh. Given the current uncertainties surrounding US tariffs, it is difficult to predict the volume in the US. If the US's high tariff policy persists, it could impact annual shipments by 4-5 GWh compared to the initial target under extreme circumstances, but the overall impact on shipments would be limited. When discussing its outlook for the future development of the industry, Sungrow stated that it believes the main drivers of industry development remain unchanged. Firstly, the goal of carbon neutrality remains unchanged. Under this goal, clean energy is expected to continue its steady and sustainable development in the long term. Secondly, in terms of development space, the global share of primary energy consumption from wind and solar power is still low, with renewable energy accounting for only about 14% of global primary energy consumption, of which PV and wind power account for about 5%, indicating significant room for future growth. Thirdly, with the future large-scale development of new energy and technological progress, the levelized cost of electricity (LCOE) will continue to decline, and economic viability will continue to improve, making new energy a cost-effective power source that is expected to maintain rapid growth in the future. Driven by rapid growth in overseas PV ESS business, Sineng Electric's 2024 net profit increased by over 46% YoY Sineng Electric, which also operates in the PV inverter industry, delivered notable net profit performance in both 2024 and Q1 2025. According to its annual report data, in 2024, Sineng Electric achieved operating revenue of approximately 4.773 billion yuan, a decrease of 3.23% YoY, primarily due to the company's reduction in domestic ESS integration business; the corresponding net profit attributable to shareholders of publicly listed firms was approximately 419 million yuan, up 46.49% YoY, mainly driven by the rapid growth of the company's overseas PV ESS business. According to the "2023 Global PV Inverter Shipment Ranking" released by S&P Global, the company ranked fourth globally in PV inverter shipments in 2023, maintaining its position among the top ten in the industry for many years. In Q1 2025, the company achieved revenue of 831 million yuan, up 16.8% YoY; net profit attributable to shareholders of the publicly listed firm was 87.65 million yuan, up 71.6% YoY. Deye Co., Ltd. Achieves Record High Performance in 2024, with Inverter Business Showing Sustained Significant Growth in Recent Years Deye Co., Ltd.'s performance for the full year of 2024 and Q1 2025 was also remarkable. Against the backdrop of most companies in the PV industry struggling with performance, Deye Co., Ltd. achieved a record high in 2024, with total revenue of 11.206 billion yuan, up 49.82% YoY; net profit attributable to shareholders of the publicly listed firm was 2.96 billion yuan, up 65.29% YoY. In terms of Q1 2025 performance, the company continued its positive trend, achieving operating revenue of 2.566 billion yuan, up 36.24% YoY; net profit attributable to shareholders of the publicly listed firm was 706 million yuan, up 62.98% YoY. Deye Co., Ltd. stated that over the past three years, the company's inverter business has shown sustained significant growth, while ESS inverters have driven a substantial increase in ESS battery pack business. The company's multi-market layout overseas has shown clear results, and cost reduction and efficiency improvement have maintained high profit margins, leading to overall improvement in major accounting data and financial indicators. Public information shows that PV inverters are core components of PV systems, and their growth is mainly driven by global new PV installation demand and replacement demand for inverters in existing PV power plants. The growth in global new PV installations will drive rapid growth in the PV inverter market demand. When asked about the company's outlook for the PV industry, Sungrow stated that long-term demand for PV will continue to grow, but the compound annual growth rate from 2024 to 2030 is expected to be over 10%. This is due to the large base and the impact of US tariffs and China's Document No. 136, which may delay the market. The company expects that due to the large base, domestic PV growth this year will face significant pressure, but the following years should be more optimistic. National leaders have recently reaffirmed their commitment to the "dual carbon" goals and their firm confidence in green development. The European PV market remains relatively stable, while the US market may face growth pressure this year. PV markets in other regions such as Southeast Asia, the Middle East, and South America are still growing. Overall, this year may be relatively challenging, but after this year, adjustments and corrections are expected, and the long-term outlook remains confident.

On April 10, 2025, Continental AG announced the successful rollout of its first locally produced sixth-generation millimeter-wave radar, the ARS620, from its manufacturing facility in China.