Recently, Shenzhen Pan-Hai Tonglian Precision Manufacturing Co., Ltd. (hereinafter referred to as "Tonglian Precision") announced that its application to issue convertible corporate bonds to unspecified investors has been approved by the Shanghai Stock Exchange. The total amount of funds raised will not exceed RMB 576 million, which will be primarily invested in the intelligent manufacturing center project for new intelligent terminal components (lightweight materials), as well as to supplement working capital and repay bank loans. Founded in 2016, Tonglian Precision focuses on the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision parts. The company is headquartered in Longhua District, Shenzhen, and has multiple production bases in Shenzhen, Huizhou, Changsha, and other locations. In December 2021, the company successfully listed on the Shanghai Stock Exchange's Science and Technology Innovation Board.

On November 11, GRINM Advanced Metal Composite Materials (Beijing) Co., Ltd. (hereinafter referred to as "GRINM") plans to list on the Shanghai Stock Exchange's Science and Technology Innovation Board. GRINM is a high-tech enterprise primarily engaged in the research, development, production, and sales of metal composite materials and products, and special non-ferrous metal alloy products. Its business is divided into metal composite materials and products and special non-ferrous metal alloy products. Its main products include metal matrix composite materials and products, bimetallic composite materials and products, special aluminum alloy products, and special copper alloy products. The company's products are widely used in aerospace, military electronics, smart terminals, and home appliances.

[Narada Power: Currently Has Unshipped Large-Scale Storage Orders of About 7.8 GWh] Narada Power (300068.SZ) released a record of investor relations activities. The company has successively won bids for multiple high-voltage lithium battery data center projects this year, including lithium battery projects in the US and abroad. The company's current data center lithium battery capacity is 1.5 GWh. Based on orders under negotiation, it plans to expand capacity by another 1 GWh next year, bringing total capacity to 2.5 GWh. If customer demand increases in the future, the company has the capability to rapidly expand production to meet customer needs. Additionally, the company currently has unshipped large-scale storage orders of about 7.8 GWh, with approximately 5 GWh domestic and about 2.8 GWh overseas. Major overseas orders come from Australia, Europe, the UK, and other countries and regions. (Cailian Press) [China Automobile Dealers Association: August Auto Dealer Comprehensive Inventory Coefficient Was 1.31, Up 12.9% YoY] The China Automobile Dealers Association released the results of its August 2025 "Auto Dealer Inventory" survey: The comprehensive inventory coefficient for auto dealers in August was 1.31, down 3.0% MoM and up 12.9% YoY. Inventory levels are below the warning line but above the reasonable range. (Cailian Press) [Manst: Multiple Solid-State Battery Equipment Models Have Been Successively Shipped to Customer Sites] Manst stated on an interactive platform that in the field of solid-state batteries, based on its dual-strategy layout for dry and wet processes, the company has accumulated relatively rich front-end technical reserves and validation data. It has certain innovations and advantages in technologies such as new-type ceramic materials, twin-screw efficient dispersion, ultra-thin wet coating, and double-layer co-coating of active material and solid electrolyte. This year, multiple models of the company's solid-state battery equipment have been successively shipped to customer sites, including dry and wet process-related front-end equipment, with debugging and validation results receiving customer recognition. (Cailian Press) [Shandong Deruixiang Auto Parts: Company's Solid-State Battery Uses Oxide Electrolyte Route] Shandong Deruixiang Auto Parts stated on an interactive platform that the company's solid-state battery uses an oxide electrolyte route, offering high safety and good high-temperature resistance. In terms of safety, the company's solid-state battery has not only passed safety tests such as nail penetration, heating, and overcharging but also obtained UN38.3 standard certification, confirming the stability and safety of the company's solid-state battery during sea and air transport. Regarding high-temperature resistance, the company's solid-state battery can operate continuously under high-temperature conditions relying solely on natural heat dissipation. Meanwhile, the preparation of the company's solid-state battery uses mature coating processes, which are simple and easy for mass production. (Cailian Press) [Hymson: Has Successfully Mastered the Full Process for Mass Production of Lithium Metal Solid-State Batteries] Hymson stated on an interactive platform that the company has successfully mastered the full process for mass production of lithium metal solid-state batteries and has already received a mass production equipment order for solid-state batteries worth 400 million yuan for 2 GWh. This is also the industry's first commercially viable mass production order for high-energy lithium metal solid-state battery equipment. (Cailian Press)In addition, the company has provided pilot line equipment for sulfide solid-state batteries to several globally leading new energy technology enterprises. The relevant equipment has been highly recognized by customers and is currently being shipped out successively. (Science and Technology Innovation Board Daily) [Yingli Shares: Plans to Acquire 77.94% of Utley Shares for 468 Million Yuan] Yingli Shares (300956.SZ) announced that the company intends to acquire 77.9385% of Utley shares by issuing shares and paying in cash. At the same time, it will raise supporting funds from no more than 35 specific investors. The transaction price is 468 million yuan. After the transaction is completed, the company will further expand its business scale and enhance its market competitiveness. The target company of this transaction is mainly engaged in the R&D, production, and sales of consumer lithium-ion batteries with laptop battery modules as the core, while also laying out energy storage lithium-ion battery business. Its products are mainly used in terminals such as laptops, tablets, smartphones, smart wearable devices, and digital cameras. It is a lithium-ion battery one-stop solution provider with independent innovation capabilities. (Cailian Press) Related Reading:

[CATL's New Sodium Battery Passes New National Standard Certification] According to CATL, on September 5, CATL's new sodium battery passed the GB 38031-2025 "Safety Requirements for Traction Batteries for Electric Vehicles" (referred to as the "New National Standard") certification, becoming the world's first sodium-ion battery to pass the New National Standard certification. (Science and Technology Innovation Board Daily) [New-Type Battery Charges in 12 Minutes for 800 km Driving Range] A research team from the Korea Advanced Institute of Science and Technology and LG Energy Solution overcame the long-standing dendrite problem in lithium metal batteries, significantly improving battery performance and EV driving range. Compared to the maximum range of less than 600 km for traditional lithium-ion batteries, the new-type battery only requires 12 minutes to charge to 70%, supports a single-charge driving range of 800 km, and has a total lifespan mileage exceeding 300,000 km. The related research results were published in the latest issue of the journal "Nature Energy". (Cailian Press) [Dedicated Equipment Support Leads the Way, Solid-State Battery Industrialisation Accelerates] Positive news for the solid-state battery industry has been frequent. Since September, multiple A-share publicly listed firms including Zhuhai CosMX Battery, EVE, Lead Intelligent Equipment, and Gotion High-tech have intensively disclosed progress in the solid-state battery sector. As a cutting-edge technology with high safety and high energy density, solid-state batteries have long been regarded as an important solution to address NEV fire issues and alleviate driving range pressure for humanoid robots and low-altitude aircraft. Industry insiders stated that the solid-state battery industry is currently in a critical transition phase from laboratory verification to industrialisation. Policy and financial support from multiple parties are accelerating industrial implementation. However, currently, the environmental requirements for solid-state batteries remain relatively stringent, making application in daily scenarios still difficult, and mass production will still take time. (Cailian Press) [Zhuhai CosMX Battery: Company's Semi-Solid-State Battery Has Begun Mass Production and Shipment, Actively R&Ding All-Solid-State Battery] Zhuhai CosMX Battery (688772.SH) stated in its investor relations activity record that the company's semi-solid-state battery has begun mass production and shipment, and has successively gained more customer recognition. Simultaneously, the company is actively collaborating with customers on the R&D of all-solid-state batteries to promote their future mass production and commercial application. In the ESS sector, the company selects high-quality customers and projects, seizing opportunities in high-quality household ESS battery business and domestic large-scale ESS system business. The company's ESS business hit bottom and rebounded in H1 2025, with orders improving both YoY and MoM. (Science and Technology Innovation Board Daily) [Volkswagen AG CEO: US Tariff Hike Costs the Company Billions of Euros] Since the beginning of this year, the US has indiscriminately imposed tariffs under the pretext of reducing the trade deficit, causing damage to the global automotive industry. Volkswagen CEO Blume stated on September 8 that the US tariff hike has cost the company billions of euros. Obomu also noted that the future development of tariffs is crucial for the company. Like its competitors, Volkswagen is still waiting for the current US auto import tariff to be reduced from 27.5% to 15%. The high tariffs have particularly impacted the company's Porsche and Audi brands, which currently do not have production sites in the US. Obomu mentioned that Volkswagen is in discussions with the US government regarding tax breaks for planned investment projects, including a potential local production facility for Audi, with decisions expected to be finalised by year-end. [CITIC Securities: High Demand for Power and ESS, Positive Outlook for Lithium Battery Sector] CITIC Securities' research report points out that based on the H1 and Q2 2025 operating results of the battery and energy management industry chain, driven by the growth in domestic and overseas NEV sales and global ESS demand, the shipment end showed a notable performance, with most segments seeing revenue return to positive YoY growth in Q2. Industry capital expenditure has largely hit bottom, with a slight rebound in the YoY growth rate of "fixed assets + construction in progress" in Q2, and some supply-constrained segments have already started expanding capacity. On the profit side, sectors like batteries and anodes demonstrated good YoY and QoQ performance; material sector profits have hit bottom, and are expected to enter an upward channel due to the demand for high-end products driven by downstream battery technology iterations (solid-state, fast charging, etc.). Given China's significant comparative advantage in the global lithium battery industry chain and the gradual improvement in overseas layout, top-tier enterprises, through technological innovation and going global, are expected to further expand their market share and profitability. We remain optimistic about leading companies across all segments of the industry chain that have proven competitive advantages in technology, cost, and profitability. (Cailian Press) Related Reads: [BASF Shanshan Solid-State Battery Layout Focusing on Cathode Materials] [SMM Analysis] Policy Boost! Sectors Including Batteries, Energy Metals, and PV Equipment Surge, Polysilicon Futures Hit Record [SMM Hot Topic] Cobalt Product Prices Rise Collectively, Large-Scale Restocking Drives Up Cobalt Salt Prices, Is Peak Season Finally Here? [Weekly Observation] [SMM Analysis] Hydrometallurgy Recycling Market Saw MoM Increase in Salt Production in August Rise Over 5%! Overseas ESS Demand Explodes & Solid-State Battery Orders Surge, Battery Sector Soars [SMM Hot Topic] [SMM Analysis] Anode Material Production Showed QoQ Growth in August, Expected to Continue Rising in September Supported by Demand and Cost Inner Mongolia Assembles Academic and Industrial Forces to Tackle Solid-State Battery ESS Applications [SMM Analysis] Dutch Scientists Break Through Solid-State Battery Bottleneck, Discover Halide Electrolyte Characteristics [SMM Analysis] Targeting Small Power and Low-Altitude Economy, Anhui Volt Era's 10GWh Solid-State Battery Project Officially Launched [SMM Analysis] [SMM Analysis] China's LFP Material Production Rose 8.8% MoM in August Energy Metals, Batteries, and Solid-State Battery Sectors All See a Rise!

[TONZE: Solid-State Battery Concept Gains Significant Market Attention; Subsidiary Has Obtained Patent Authorization for Lithium Sulphide Material and Its Preparation Method and Application] TONZE (002759.SZ) issued an announcement on abnormal stock trading fluctuations, stating that the company has noted the recent high market attention on the solid-state battery concept. As of now, the company's controlling subsidiary, Jiangsu Tarry Litian Materials Technology Co., Ltd., has obtained patent authorization for "A Lithium Sulphide Material and Its Preparation Method and Application". Lithium sulphide is a raw material for producing sulphide solid-state battery electrolytes. Currently, the company is advancing the industrialisation of this patent, with related R&D and testing work proceeding in an orderly manner. Influenced by factors such as the macro economy, industry policies, and changes in the market environment, this project also faces risks that its industrialisation and commercialisation may fall short of expectations. (Cailian Press) [Hangke Technology: Company's Capacity Is Closely Related to Downstream Customers' Expansion Plans; If Future Market Demand Growth Slows Down, It May Bring Uncertainty Risks to the Stability of Operating Performance] Hangke Technology (688006.SH) issued an announcement on abnormal stock trading fluctuations, stating that the company focuses on the new energy equipment manufacturing field, primarily engaged in the R&D, design, production, sales, and technical services of lithium-ion battery post-processing systems. Its products are widely used in lithium-ion battery production lines for energy storage systems, NEVs, and digital products. The company's capacity is closely related to downstream customers' expansion plans. If future domestic and overseas downstream market demand growth slows down or falls short of expectations, it may lead to delays in customer capacity expansion or reduced investment, thereby bringing uncertainty risks to the stability of the company's future operating performance. (Science and Technology Innovation Board Daily) [CosMX Battery: Company's Semi-Solid-State Battery Has Begun Mass Production and Shipment] CosMX Battery (688772.SH) issued an announcement on investor relationship activity records, stating that currently, the company's semi-solid-state battery has begun mass production and shipment, and has successively gained recognition from more customers. Meanwhile, the company is actively collaborating with customers on the R&D of all-solid-state batteries to promote their future mass production and commercial application. In the field of humanoid robots, the company actively participates in technical collaborations for multiple projects and solutions, and has successively provided samples to several leading producers. Some producers have deep collaborations with the company in automotive low-voltage lithium batteries. Pouch batteries, with advantages in energy density, discharge rate, and safety, have gained recognition from multiple producers and are one of the important technical routes for lithium batteries used in robots. (Cailian Press) [CATL Launches NP3.0 Technology Platform With the Highest Safety Level in the Battery Field for the First Time] On September 7, CATL launched the NP3.0 (No Propagation 3.0) technology platform with the highest safety level in the battery field for the first time in Munich, Germany, and officially released the first LFP power battery product equipped with this technology—Shenxing Pro. CATL stated that this technology can achieve no open flames or smoke during thermal runaway, avoiding secondary accidents caused by obstructed vision. (Cailian Press) [South Korea Says It Has Negotiated with US to Release About 300 Detained Koreans] According to CCTV International, the South Korean Presidential Office reported on September 7 that it has completed negotiations with the US side regarding the release of South Korean staff detained at the Hyundai Motor-LG Energy Solution joint battery plant in Georgia. After the relevant administrative procedures are completed, the South Korean government will charter a flight to the US. The enforcement video released by US Immigration and Customs Enforcement (ICE) on September 6 showed that on September 4 local time, ICE and other law enforcement agencies conducted a large-scale raid on the Hyundai Motor-LG Energy Solution joint battery plant in Georgia as part of an operation against illegal immigration. The total number of arrests reached 475, with about 300 being South Koreans. (Cailian Press) [Changan Automobile's Zhu Huarong: The Best Window for Chinese Automakers to Go Global May Only Last Two to Three Years] At the 2025 World Intelligent Industry Expo, Zhu Huarong, Party Secretary and Chairman of China Changan Automobile Group Co., Ltd., stated in his speech that the automotive industry is accelerating its embrace of AI, and the era of digital-intelligent new cars has arrived. Future cars will be evolvable intelligent car robots. It is estimated that by 2030, L2-level assisted driving will become standard for domestic passenger cars, and the coverage rate of L3-level and above assisted driving will exceed 10%. He also mentioned that China's NEV production and sales are expected to reach 16 million units this year, with a penetration rate exceeding 50%. By 2030, 80% of the Chinese market will be NEVs, and the global NEV penetration rate will reach 40% by 2030. In the future, automaker groups with dual powertrain layouts (internal combustion engine vehicles and NEVs) globally will have significant advantages. Additionally, Zhu Huarong believes that the best window for Chinese automotive brands to expand overseas may only last two to three years. He suggested strengthening industry self-discipline, operating in compliance with laws and regulations, using technological innovations like AI to reduce costs and improve product quality and service experience, and fostering a favorable industrial ecosystem. (Sci-Tech Innovation Board Daily) Related Reading:

[Xiaomi's Lu Weibing: Xiaomi EV Expected to Begin Profitability in H2, Confident in Achieving Full-Year Delivery Target of 350,000 Units] Lu Weibing, Partner and President of Xiaomi Group, stated during the earnings call that evening that the company is confident in achieving the full-year delivery target of 350,000 units for Xiaomi EVs. In Q2 of this year, revenue from Xiaomi's smart electric vehicles and innovative businesses such as AI surged by 234% to 21.3 billion yuan, with operating losses narrowing significantly to 300 million yuan. The company is expected to achieve single-quarter profitability in H2. However, from 2022 to H1 2025, Xiaomi's investment in innovative businesses including automotive exceeded 30 billion yuan, so cumulatively, the new business still incurs substantial losses. (Cailian Press) [Jiangxi Special Electric Motor: Yichun Yinli to Officially Resume Production Shortly] Jiangxi Special Electric Motor (002176.SZ) announced that its wholly-owned subsidiary, Yichun Yinli New Energy Co., Ltd. (referred to as "Yichun Yinli"), had previously halted production for equipment maintenance. Recently, the company received notice from Yichun Yinli that it will officially resume production shortly. (Cailian Press) [Nuode: Company's Products Primarily Used in Lithium Battery Manufacturing] Nuode (600110.SH) announced that its stock price had deviated by a cumulative 20% over three consecutive trading days, constituting an abnormal stock trading fluctuation. Upon self-review, the company's current production and operations are normal, with no significant changes in internal or external operating environments. The company's main business involves the R&D, production, and sales of electrolytic copper foil for lithium-ion batteries, with products primarily used in lithium battery manufacturing. (Cailian Press) [XPeng Motors Expects Monthly Deliveries to Exceed 40,000 Units Starting September] During the Q2 earnings call, He Xiaopeng, Chairman of XPeng Motors, stated that the company expects monthly deliveries to steadily exceed 40,000 units starting this September. According to the semi-annual report, XPeng Motors delivered 197,000 units in H1 of this year. (Science and Technology Innovation Board Daily) [Heilongjiang: Three-Tier Subsidy for Auto Replacement Starting August 23, with ICE Vehicles Priced Below 150,000 yuan Eligible for 5,000 yuan per Unit] Heilongjiang has adjusted its consumer trade-in subsidy policies. It mentioned that starting August 23 (inclusive), personal consumers participating in Heilongjiang's auto replacement subsidy policy will receive subsidies based on three tiers according to the purchase price of the new vehicle (excluding tax). Among these, for internal combustion engine vehicles with a new selling price below 150,000 yuan (exclusive), the subsidy is 5,000 yuan per unit; for those priced between 150,000 yuan (inclusive) and 250,000 yuan (exclusive), the subsidy is 8,000 yuan per unit; and for those priced at 250,000 yuan (inclusive) or above, the subsidy is 11,000 yuan per unit. The subsidy standards for new energy vehicles are 2,000 yuan higher per tier compared to internal combustion engine vehicles. Consumers who purchase new vehicles on or before August 22 will receive subsidies according to the original standards. Apart from the subsidy standard adjustments, all other matters will be implemented in accordance with the relevant provisions of the "Detailed Implementation Rules for the 2025 Heilongjiang Province Vehicle Replacement Subsidy Program." The purchase date and price of the new vehicle shall be based on the invoice date and indicated price on the "Uniform Invoice for Motor Vehicle Sales." (Cailian Press) [Leap Motor: Expects 2025 Net Profit of 500 Million-1 Billion Yuan, Plans to Build Manufacturing Base in Europe Next Year] Leap Motor has revised its 2025 target from achieving break-even to achieving full-year profitability, with an expected net profit of 500 million to 1 billion yuan. Additionally, the company plans to establish a local manufacturing base in Europe next year, initially launching its B-series products and doubling overseas sales YoY. Related Reading:

[Institutions: NEV Sales Reach 4.868 Million Units in Q2, Up 30% YoY] According to the latest survey by TrendForce, global sales of new energy vehicles (NEVs), including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles, reached 4.868 million units in Q2 2025, up 30% YoY. When including hybrid electric vehicles (HEVs), EV sales in Q2 totaled 6.456 million units, accounting for 29% of global auto sales. (Science and Technology Innovation Board Daily) [Sichuan Energy: Lijiagou Lithium Mine in Ramp-Up Stage] Sichuan Energy stated on an interactive platform that its Lijiagou lithium mine has been operating smoothly since trial production began and is currently in the ramp-up stage. Dea Lithium successfully produced qualified battery-grade lithium chemicals in July 2025 after commissioning. The company will adjust production and sales plans based on market conditions to maximize the benefits of its integrated resource advantages. (Cailian Press) [Jiuwu Hi-Tech: Plans to Issue Convertible Bonds Raising Up to 504 Million Yuan] Jiuwu Hi-Tech (300631.SZ) announced plans to issue convertible bonds raising no more than 504 million yuan, with proceeds after deducting issuance costs to be invested in the BOT project for a 2,000-mt/year lithium chloride pilot production line at Bangor Co Salt Lake, a special inorganic membrane component and equipment production line, and working capital replenishment. (Cailian Press) [Narada Power: All-Solid-State Battery Pilot Line Enables Small-Batch Delivery] In response to investor inquiries about the progress of its all-solid-state battery production line or site construction and near-term plans, Narada Power stated on an interactive platform that it currently operates one pilot line capable of small-batch deliveries. The all-solid-state battery products will not significantly impact 2025 performance. Investors are advised to exercise caution and make rational decisions. (Cailian Press) [Leap Motor Raises 2025 Annual Sales Target to 580,000–650,000 Units] Cailian Press learned that Leap Motor has raised its 2025 annual sales target to 580,000–650,000 units due to stronger-than-expected market performance, with plans to challenge 1 million units next year. In March, Leap Motor founder, chairman, and CEO Jiangming Zhu stated that the company aimed for 500,000–600,000 unit sales this year. [China Automobile Dealers Association: Only 30% of Dealers Met H1 Sales Targets] The China Automobile Dealers Association's "2025 H1 National Auto Dealer Survival Survey Report" showed that only 30.3% of dealers achieved their sales targets in H1 2025, with 29.0% completing less than 70% of targets and 40.7% achieving 70–100% of targets. By brand groups, the target completion rate of luxury brands slightly outperformed that of joint venture and domestic brands. Among joint venture brands, the proportion of dealers achieving 70% or below their targets was higher than that of luxury/import brands and domestic brands. (Cailian Press) Related reading: [SMM Analysis] 2025 H1 China New Energy Vehicle Market Review: Program of Large-Scale Equipment Upgrades and Consumer Goods Trade-ins + Purchase Tax Reduction and Exemption + Automaker Price War Ternary Cathode Precursor January-July 2025 Review and H2 Outlook: Challenges and Opportunities Under Market Restructuring [SMM Analysis] [SMM Analysis] LFP Material Production Growth Remained Slow in July [SMM Analysis] Low-Sulphur Petroleum Coke Prices Rose on Demand Boost in July [SMM Analysis] Multiple Factors at Play, Anode Material Prices Stalled in July [SMM Analysis] Supply Reduction Kept Oil-Based Green Needle Coke Prices Stable in July [SMM Analysis] Market Share Continues to Rise! 2025 H1 LFP Cathode Material Review and Outlook

[China Nonferrous Metals Industry Association Lithium Branch Initiative: Resist "Rat Race" Competition and Jointly Create a Fair, Just, Stable, and Orderly Market Environment] To strengthen industry self-discipline, prevent "rat race" competition, ensure the security of the industrial and supply chains, and promote the healthy and orderly development of the lithium industry, the Lithium Branch of the China Nonferrous Metals Industry Association issued an initiative to relevant enterprises in the lithium industry chain: enhance upstream and downstream collaboration to safeguard industrial security. Uphold the development concept of an industrial community with a shared future, adhere to the principle of fair market competition, and resolutely resist disorderly competition, market monopolization, false advertising, and other misconduct. Actively assess market trends and rationally plan new capacity. Elevate the level of strategic cooperation and coordinated development between upstream and downstream sectors of the industry chain, improve transparency, and reduce communication barriers. Stabilize market supply through measures such as signing long-term cooperation agreements, optimize layout and industrial chain coordination, ensure smooth circulation of the industrial and supply chains, and maintain a healthy development environment for the industry. Let us work together to actively implement the above initiatives, resist "rat race" competition through concrete actions, jointly create a fair, just, stable, and orderly market environment, and propel China's lithium industry toward a new phase of high-end, intelligent, and sustainable high-quality development. [Key Lithium Battery Separator Enterprises Reach Consensus on Anti-"Rat Race" Competition, Industry Chain Profitability Expected to Reach Turning Point] A closed-door symposium for heads of key dry-process lithium battery separator producers was held in Shenzhen, aiming to respond to and implement national policies on comprehensive rectification of "rat race" competition and promote the healthy and orderly development of the industry. Shenzhen Senior Technology Material, ZXTC, Huiqiang New Material, Cangzhou Mingzhu, and eight other enterprises reached several important consensuses: first, price self-discipline; second, rational capacity release; third, suspension of capacity expansion; fourth, strengthening industrial chain cooperation; and fifth, welcoming social supervision. [Accident at Albemarle's Lithium Plant Under Investigation] According to informed sources, an accident occurred last week at Albemarle Corporation's (ALB) La Negra lithium plant near Antofagasta, Chile, and is currently under investigation by Chilean authorities. [Ganfeng Lithium: Collaborates with LAR to Integrate PPGS Lithium Salt Lake Project, Plans to Develop Production Lines with Total Annual Output of 150,000 mt LCE] Ganfeng Lithium (002460.SZ) announced that its wholly-owned subsidiary, Ganfeng International, and LAR will jointly develop the Pozuelos-Pastos Grandes salt lake basin in Argentina, integrating the wholly-owned PPG lithium salt lake project, the jointly held PG lithium salt lake project (Ganfeng holds 14.89%, LAR holds 85.11%), and the Puna lithium salt lake project (Ganfeng holds 35%, LAR holds 65%) under Millennial, collectively referred to as the "PPGS Lithium Salt Lake Project" after integration. Upon completion of the integration, Ganfeng International and LAR will hold 67% and 33% equity in Millennial respectively, and jointly own the PPGS salt lake project in proportion. After the integration of the PPGS salt lake project, Millennial plans to adopt advanced direct lithium extraction (DLE) technology, developing a production line with a total annual capacity of 150,000 mt LCE in three phases. As part of the transaction, the company or its subsidiaries will provide LAR with financial support of up to $130 million from their own funds, with LAR using its equity in the integrated Millennial as collateral. [Dare Auto Parts: Solid-State Battery Sample Pilot Line Completed in Shanghai] Dare Auto Parts stated on the interactive platform that the company has completed the construction of a solid-state battery sample pilot line in Shanghai and is currently accelerating the construction of the pilot production line. After the pilot line is operational, the company will gradually plan and implement the construction of a mass production line based on customer and product development progress as well as market demand. (Cailian Press) [Three Departments: Fiscal Subsidies for Personal Consumption Loans Cover Single Transactions Below 50,000 yuan, and Key Sectors Such as Household Vehicles, Elderly and Childcare, Education and Training, and Cultural Tourism for Single Transactions of 50,000 yuan and Above] The Ministry of Finance, the People's Bank of China, and the National Financial Regulatory Administration issued the "Implementation Plan for Fiscal Subsidy Policy on Personal Consumption Loans." It stipulates that from September 1, 2025, to August 31, 2026, residents using personal consumption loans (excluding credit card business) issued by lending institutions for actual consumption, and where the lending institutions can identify the borrower's relevant consumption transaction information through the loan disbursement account, may enjoy subsidy policies as prescribed. The subsidy scope includes single transactions below 50,000 yuan, as well as key sectors such as household vehicles, elderly and childcare, education and training, cultural tourism, home furnishings, electronic products, and health care for single transactions of 50,000 yuan and above. For single transactions above 50,000 yuan, the subsidy is capped at 50,000 yuan. After the policy expires, the duration may be extended and the support scope expanded based on implementation effectiveness. (Cailian Press) [Institutions: Global Automotive Display Panel Revenue Expected to Reach $13.6 Billion in 2025, Up 8% YoY] According to the latest analysis from Omdia's Automotive Display Research Service, the global automotive display market will experience strong growth in 2025, with display panel revenue expected to reach $13.6 billion, up 8% YoY. Omdia further predicts that the market size will grow to $18.3 billion by 2030. (Science and Technology Innovation Board Daily) Related Reading: [SMM Analysis] China's Cobalt Market Review, January-July 2025: How Did Domestic Smelters Respond to Export Bans? Multiple Auto Market Indicators Hit Record Highs in July: CPCA Revises Up 2025 Retail and Export Forecasts [SMM Special Report] [SMM Analysis] Life Cycle Assessment of Retired Power Batteries: Upstream, Midstream, and Downstream Technologies in Lithium Battery Recycling Chain [SMM Analysis] Latest Recycling Developments: 7.28-8.1 [SMM Analysis] Latest Recycling Developments: 8.4-8.7 [SMM Analysis] Lithium Miners Defy Market Trends: Pilbara Minerals' Record Performance and Strategic Resilience [SMM Analysis] Weekly Summary of LFP Market in August Phosphate Ore Capacity Expands Amid New Energy Demand, but Tight Balance Likely to Persist [SMM Analysis] Surge Over 37%! Lithium Carbonate Futures Prices Soared in July, August Market May Shift to Tight Balance? [SMM Hot Topic] [SMM Analysis] China's NEV Market Review, H1 2025: Policy on Equipment Upgrades & Trade-Ins + Purchase Tax Cuts + Automaker Price Wars Ternary Cathode Precursor Market Review (January-July 2025) and H2 Outlook: Challenges and Opportunities Amid Restructuring [SMM Analysis] [SMM Analysis] LFP Material Production Growth Remained Slow in July [SMM Analysis] Low-Sulphur Petroleum Coke Prices Rose in July Driven by Demand Boost [SMM Analysis] Multiple Factors Stalled Anode Material Prices in July [SMM Analysis] Oil-Based Green Needle Coke Prices Stabilized in July Amid Supply Reduction [SMM Analysis] Market Share Keeps Climbing! H1 2025 Review and Outlook for LFP Cathode Materials

[7.16 Lithium Battery News] ► A spokesperson for the Ministry of Commerce responded to media inquiries regarding adjustments to the "Catalog of Technologies Prohibited or Restricted from Export in China" ► MIIT plans to formulate mandatory national standards for mobile power supplies ► Huasheng Lithium: Completed laboratory trial production of various adaptive materials for solid-state/semi-solid-state batteries ► Luobo Kuaipao and Uber reach strategic cooperation to deploy thousands of autonomous vehicles globally ► Zhang Yongwei from China EV100: The proportion of automotive electronic hardware will reach 70% by 2030 ► National Bureau of Statistics: The capacity utilization rate of the automotive manufacturing industry was 71.3% in Q2

[China Automobile Dealers Association: Auto Dealer Inventory Coefficient Reaches 1.42 in June, Up 1.4% YoY] The China Automobile Dealers Association (CADA) released its June 2025 "Auto Dealer Inventory" survey results on July 10: The comprehensive inventory coefficient for auto dealers stood at 1.42 in June, representing a 2.9% MoM increase and a 1.4% YoY growth rate. While inventory levels remained below the warning threshold, they exceeded the reasonable range. Based on CADA Passenger Vehicle Branch statistics projecting terminal sales of 2.084 million units in June, the total month-end inventory for auto dealers was estimated at approximately 2.95 million units. (FinanceLink) [CAAM: China's NEV Sales Hit 6.937 Million Units in H1, Up 40.3% YoY] Data released by the China Association of Automobile Manufacturers (CAAM) on July 10 shows the automotive market maintained strong momentum from January to June, with both production and sales exceeding 15 million units, achieving over 10% YoY growth. Specifically, NEV production and sales reached 6.968 million and 6.937 million units respectively, with corresponding YoY growth rates of 41.4% and 40.3%. New NEV sales accounted for 44.3% of total new vehicle sales. In exports, China's automotive exports totaled 3.083 million units during H1, up 10.4% YoY, including 1.06 million NEV exports which surged 75.2% YoY. A CAAM official stated that domestic market improvements driven by the continuing effectiveness of the trade-in policy contributed to over 10% YoY growth, providing strong support for overall market expansion. NEVs maintained rapid growth momentum with rising market share, leading accelerated industrial transformation. Looking forward to H2, the program of large-scale equipment upgrades and consumer goods trade-ins will continue orderly implementation. Coupled with richer new product offerings from enterprises, this is expected to sustain automobile consumption growth and ensure healthy industry operations. (FinanceLink) [Beijing: Optimizing Passenger Vehicle Quota Allocation to Better Serve Household Vehicle Needs] The Beijing Municipal People's Government issued the "Beijing Special Action Plan for Deepening Reform to Boost Consumption," which includes provisions to improve the automotive consumption ecosystem. Measures involve optimizing passenger vehicle quota allocation to better meet household vehicle demands, nurturing used car business entities, and continuing to implement convenience measures such as "reverse invoicing" and cross-regional transaction registration for used car sales. The plan also emphasizes enhancing information sharing in the automotive sector, supporting third-party used car information query platforms to facilitate trustworthy transactions, and expanding aftermarket consumption sectors including vehicle modification, leasing, racing events, and RV camping. Organize a series of NEV competitions within the Beijing-Tianjin-Hebei region to stimulate NEV consumption vitality. (Cailian Press) [In H1, China's total exports of power and other batteries reached 127.3 GWh, up 56.8% YoY] China Industrial Innovation Alliance for Power Battery released June 2025 monthly data on power batteries. In June, China exported 24.4 GWh of power and other batteries combined, up 27.9% MoM and 22.5% YoY. Total exports accounted for 18.5% of monthly sales. Among them, power battery exports reached 15.8 GWh (65.0% of total exports), up 17.1% MoM and 16.6% YoY; other battery exports reached 8.5 GWh (35.0% of total exports), up 54.7% MoM and 35.2% YoY. From January to June, China's cumulative exports of power and other batteries reached 127.3 GWh, up 56.8% YoY. Total cumulative exports accounted for 19.3% of H1 cumulative sales. Among them, cumulative power battery exports reached 81.6 GWh (64.1% of total exports), up 26.5% YoY; cumulative other battery exports reached 45.6 GWh (35.9% of total exports), up 174.6% YoY. (Science and Technology Innovation Board Daily) [Hongxing Development: Some solid-state battery companies procure manganese products for performance validation] Hongxing Development stated on its interactive platform that downstream solid-state battery companies have purchased certain manganese products from the company for battery performance validation. The company's manganese product capacities primarily include EMD and high-purity manganese sulphate, both at 30,000 mt/year. It also possesses Mn3O4 production technology with pilot-scale validation completed, though no commercial production has commenced. (Cailian Press) [Derui Lithium Battery: Accelerating final acceptance of new capacity construction] Derui Lithium Battery released investor relations activity records, stating the company is currently advancing the final acceptance of new capacity construction which has not yet commenced production. Capacity release will align with sales and order conditions, with initial focus on lithium-manganese and lithium-iron primary batteries. 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