[SMM Analysis: 10,000 mt Production Lines of NFPP Successively Put into Operation: Innovation in Sodium-ion Battery Cathode Materials and Reshaping of Market Landscape] SMM reported on May 13: On May 8, 2025, Huzhou Yingna New Energy put its 10,000 mt-scale production line for sodium iron iron(II) phosphate (NFPP) cathode materials into operation, marking a new stage in the commercialization of sodium-ion batteries...

DFD has a complete industry chain of "fluorine resources → hydrofluoric acid and electronic-grade hydrofluoric acid → lithium fluoride → LiPF6 → lithium battery", and achieves continuous cost reduction through technological innovation in lithium battery recycling processes.

Recently, DFD (002407) announced its performance for 2024 and Q1 2025. In 2024, the company achieved an operating revenue of RMB 8.207 billion and a net profit attributable to shareholders of the publicly listed firm of -RMB 308 million. In Q1 2025, the company achieved an operating revenue of RMB 2.098 billion, a 2.09% decrease YoY, and a net profit attributable to shareholders of the publicly listed firm of RMB 47.306 million, a 69.24% increase YoY, demonstrating strong operational resilience and potential for profitability recovery. DFD stated that the company possesses a complete industry chain, from "fluorine resources → hydrofluoric acid and electronic-grade hydrofluoric acid → lithium fluoride → LiPF6 → lithium batteries", and achieves continuous cost reduction through technological innovation in lithium battery recycling processes. Currently, DFD has expanded into overseas ESS, outdoor power supply and household ESS, power battery, and domestic light-vehicle markets. Considering customer needs and the economy and reliability of products, the company has launched products with diameters ranging from 40, 42, 46 to 60, and 65-series, and capacities ranging from 20Ah to 65Ah. These products are widely used in portable applications and household ESS, while also achieving significant breakthroughs in niche power applications such as three-wheelers, forklifts, and AGVs. The market competitiveness and share of cylindrical battery cells are gradually increasing. The company will continue to increase R&D investment and technological innovation in the lithium battery sector to further enhance product performance and quality, meeting market demand for high-performance and high-safety batteries. Meanwhile, it will strengthen collaboration with upstream and downstream industry chains to promote the sustainable development of the new energy battery industry chain. In terms of capacity, DFD currently has a lithium battery production capacity of 8.5 GWh per year. Regarding responses to cyclical fluctuations in the industry, DFD stated in its interactions with investors that it will take the following measures: 1. Deepen overseas market layout and accelerate the construction of overseas bases. Leveraging our long-term cooperation with overseas customers and a high customer compliance rate, we will utilize the stability and higher profit contribution rate of overseas markets to balance domestic market fluctuations and continuously increase global market share. 2. With the implementation of the new energy-driven new materials strategy, the company is steadily advancing the technological upgrades and industrialisation of a series of new lithium chemicals. By closely aligning with the market, we will gradually release production capacity and continuously expand new profit growth points. 3. Promote the synergistic development of existing businesses, integrating fluorine-based new materials upstream and extending them downstream to enhance profit margins. On the basis of achieving comprehensive utilisation of fluorine and silicon resources, we will accelerate the development of fluorite ore resources to enhance competitiveness and industrial advantages. We will simultaneously advance the R&D of electronic information materials and the introduction of technologies, increasing the proportion of high-value-added products urgently needed by the market, particularly expanding the market share of semiconductor-grade products, further focusing on high-end customers, and improving profitability. For new energy materials, we will adopt a customer-centric approach, implementing customised production, accelerating the implementation of strategies for the lithiation of electrolytes and the electrolytisation of lithium chemicals, and solidifying our leading position in the industry. For new energy batteries, we will integrate market and supply chain resources, establish an internal recycling system for the cascading use of lithium batteries and material recovery, promote the industrialisation of waste battery repair technologies, and form a closed-loop industry chain from recycling, repair, to reuse.

Narada Power Executive President Gao Xiubing: Data Center Business Orders Are Full, Solid-State Battery Mass Production Cost Expected to Be Below 1 Yuan/Wh. ① This year, the growth of the company's data center business is a new highlight. Currently, the company's domestic orders are full, with a capacity utilization rate exceeding 90%. ② Gao Xiubing stated that it is expected that in another two to three years, the company's solid-state batteries can be used in low-altitude aircraft. ③ With the accelerated layout of computing power center construction, the data center battery products are experiencing explosive growth, both domestically and overseas. (Cailian Press)

[CATL Submits Listing Application to HKEX to Raise Funds for Hungary Project] ① Contemporary Amperex Technology Co., Limited (CATL) has submitted a listing application to the Hong Kong Stock Exchange (HKEX) today. Sponsors and coordinators include Bank of America, CICC, JPMorgan, Goldman Sachs, and Ningxia Ruiyin Lead Resource Recycling Co., Ltd.; ② According to the application materials, part of the funds raised from its Hong Kong listing will be used to advance the first and second phases of the Hungary project. (Cailian Press)

With the booming electric vehicle and energy storage system industries, the development of the North American domestic lithium battery industry is receiving attention and focus from the world.