Driven by the global energy structure transformation and the "dual carbon" goals, battery technology is evolving from a traditional electricity storage medium into a core engine reshaping transportation, consumer electronics, and even the energy internet. From fundamental breakthroughs in materials science to the industrialisation of cutting-edge technologies such as solid-state and sodium-ion batteries, the battery industry is in a period of explosive technological advancement with fierce competition. This conference brings together the world's top scholars, industry chain leaders, and capital forces, aiming to break down barriers between "industry, academia, research, and application." We will delve into key topics such as high energy density, ultimate safety, ultra-fast charging technology, and recycling, jointly charting a new blueprint for green, efficient, and sustainable energy. Nayuan Advanced Materials Technology (Wuxi) Co., Ltd. will attend this grand event to discuss industry development trends with industry peers and jointly drive battery technology to new heights. Click to register now, and together witness and participate in this extraordinary and far-reaching industry event, creating a brilliant new chapter! Core Supplier of Sodium-Ion Battery Cathode Materials Nayuan Advanced Materials Technology (Wuxi) Co., Ltd., located in Wuxi, Jiangsu Province, was founded by a team of German-returnee PhDs with years of deep experience in the battery industry. It is a national-level high-tech enterprise specialising in the R&D, production, and sales of sodium-ion battery cathode materials, while also providing clients with full-battery solutions covering the entire sodium-ion battery "materials-cell-terminal" chain. The company has over 10 master's and doctoral degree holders and a technical team of approximately 30 people. It has filed 25 patents (9 granted), participated in the formulation of 3 industry standards, and published 3 papers in top journals such as Chem Soc Rev. As a leading supplier of polyanion NFS cathode materials for sodium-ion batteries and sodium-ion battery cathode material additives, the company holds industry-leading advantages in modified polyanion sodium iron sulphate (NFS) cathode materials and various types of sodium-ion battery cathode material additives. It has been included in the qualified supplier catalogues of several publicly listed firms and has completed large-scale mass production and supply. Product application scenarios encompass light electric vehicle power batteries, start-stop batteries, household ESS, distributed ESS, and more, meeting users' core demands for safety, long lifespan, and low cost. Product Business Sodium-Ion Cathode Materials Focused on the R&D and mass production of NFS (sodium iron sulphate) cathode materials, the company has pioneered a sulphate dual-phase composite technology, adopting a "soft-hard combination + scaffold-building" strategy to achieve lithium battery-grade processability, with a compaction density of 2.7 g/cm³ and 3.7V high-voltage performance. It effectively suppresses gas generation in battery cells and significantly improves cycling stability under high-temperature and high-voltage conditions, perfectly compatible with next-generation anode-free sodium-ion battery systems. Energy density can reach 220 Wh/kg; for anode-free all-solid-state sodium-ion batteries, energy density can reach 320 Wh/kg. Full Battery Cell Design Material selection, formulation optimisation, and cell structure design — full-process services. Ensuring that material advantages are fully released at the end-user level, shortening development cycles, and reducing trial-and-error costs. Commercial Cells & PACK Products Targeting power, energy storage, start-stop power supply, and other scenarios, providing mature PACK solutions. No need to build an in-house battery development team — enabling rapid product deployment and commercialisation. Sodium-Ion and Lithium Battery Material Recycling Building a "materials-battery-recycling" industry closed loop. Efficiently extracting valuable metals from end-of-life batteries to provide secondary resources for production and promote green recycling. Long Press 2026 SMM Battery Technology Conference

In the first quarter of 2026, global energy storage system shipments reached 100.0 GWh, a 96.5% increase from 50.9 GWh in the same period of 2025, bringing quarterly shipments to an entirely new scale.

Sungrow announced that it won a 7.5 Gwh energy storage order in the UAE, partnering with international renewable energy company Masdar to supply 7.5 Gwh PowerTitan3.0 liquid-cooled ESS and 2.6 GW inverters for the UAE RTC1Plant (North) project. The project is the world's largest 684Ah stacked battery cell application project and is expected to be connected to grid in 2027.

Overall, the aluminum processing industry achieved a slight edge up in operating rate this week, driven by the recovery of export orders, the surge in energy storage demand, and the recovery of infrastructure-related orders. The industry maintained relatively strong resilience, and going forward, attention should be focused on the sustainability of export orders and the boosting effect of aluminum price trends on demand.

The company recently won a bid for a 7.5 GWh energy storage order in the UAE, collaborating with international renewable energy company Masdar to supply 7.5 GWh PowerTitan3.0 liquid-cooled ESS and 2.6 GW inverters for the UAE RTC 1 Plant (North) project. This project is the world's largest 684Ah stacked battery cell application project, expected to be connected to grid in 2027.

On the evening of April 28, Guangzhou Great Power Energy and Technology Co., Ltd. (hereinafter short as Great Power) released its 2025 annual report and Q1 2026 quarterly report. The company's revenue and profit rose significantly, with its energy storage business delivering outstanding performance. Impressive Results: Revenues sustained high growth, up nearly 200% YoY in 2026 Q1 Its financial report showed that in full-year 2025, the company achieved total revenue of 11.943 billion yuan, up 50.04% YoY; net profit attributable to shareholders of the publicly listed firm reached 206 million yuan, up 181.61% YoY. Entering 2026, Great Power's performance continued its high growth trajectory. According to its Q1 financial data, the company achieved total revenue of 4.768 billion yuan, up 182.14% YoY. The company's energy storage business shipments and revenue both grew QoQ, demonstrating strong growth resilience, with Q1 profit alone already surpassing the full-year figure of last year. Great Power's 2025 performance growth momentum stemmed from the synergistic contribution of three major businesses — energy storage, consumer, and power battery : The energy storage business, leveraging its leading product competitiveness and global expansion advantages, became the core growth engine; The consumer battery business consolidated its fundamental position, maintaining steady operations; The power battery business focused on differentiated niche segments, continuously broadening incremental space, forming a well-balanced development pattern. Meanwhile, based on its three-year capacity plan and R&D progress of downstream popular products, the company expects its capacity utilization rate to stay high over the next three years, with performance expected to maintain strong growth momentum. Impressive Residential ESS Performance: Battery Cell Shipments Ranked Second Globally, Behind-the-meter (BTM) ESS Ranked Top Two in China As one of the earliest industry leaders in China to enter the ESS sector, Great Power has achieved remarkable results in the residential ESS field. In 2025, the company's residential ESS battery cell shipments ranked second globally , and its BTM ESS shipments ranked top two in China and top five worldwide ; in the commercial and industrial segment, ESS shipments ranked top two in China; its full-scenario energy storage deployment yielded significant results. In addition, the company's large-scale overseas energy storage orders achieved breakthrough growth, with full-year 2025 revenue reaching 1.793 billion yuan, up 72.98% YoY, demonstrating clear results from its globalization strategy. ESS Battery Cell QoQ Growth Tops the List, Consolidating Its Position in the Global Tier 1 With undeniable strength, Great Power was shortlisted in the 2026 SMM Global Tier 1 ESS battery cell list, ranking first in terms of QoQ growth in ESS battery cell shipments. The company's ESS battery shipments have remained in the global top eight for multiple consecutive years, with a solid industry position. Production and Sales Boom: Orders Booked Through Q2 2026, Core Energy Storage Lines Operating at Full Capacity As early as the end of 2025, an executive of Great Power stated that the company's overall production and operations were showing positive trend, with all energy storage product lines maintaining full production and sales, and orders booked through Q2 2026. On the core energy storage product manufacturing side, the 314Ah utility-scale ESS battery cell line as well as the 100Ah and 50Ah BTM ESS battery cell lines all operated at full capacity. The company is steadily expanding capacity in line with market demand. Currently, the Phase II plant at the Quzhou base has been completed, with mass production of 587Ah large-capacity battery cells expected in 2026. Orders from domestic clients have already been secured, and ex-China demand is expected to be gradually released in 2027.

This week, prices in the second-life application market remained largely stable overall, with relatively small fluctuations and a strong wait-and-see sentiment, resulting in a relatively subdued trading pace. Cost side, spot lithium carbonate prices continued to trend lower throughout the week, and although a slight rebound occurred during the period, it failed to reverse the downward trend, with overall prices maintaining a downward trajectory. Cobalt sulphate and nickel sulphate prices were simultaneously adjusted slightly downward, and the lithium battery raw materials market was in the doldrums overall. Supply side, major second-life enterprises maintained a stable shipment pace, with normal circulation of goods in the market, and no concentrated shipments or stockpiling by enterprises. The market currently lacks incremental supply, with raw material procurement and finished product shipments maintaining daily levels, and the overall supply landscape remained stable. Demand side, when lithium carbonate prices were previously at high levels, there was an intention in the market to raise battery cell prices, and downstream procurement enthusiasm increased somewhat. With prices of various lithium battery raw materials continuing to trend lower recently, cost support has weakened, and market expectations for price hike have completely dissipated. Downstream procurement attitudes have turned cautious, market willingness to adjust prices is sluggish, industry quotations generally remained stable, and significant market movements are unlikely in the short term.

To more comprehensively and objectively reflect the overall industry inventory change trends, SMM has expanded the sample coverage for other segments in the weekly lithium carbonate inventory tracking. This week, downstream weekly inventory stood at 42,729 mt, other segments weekly inventory (large sample) at 76,157 mt, smelter weekly inventory at 18,374 mt, and total weekly inventory (large sample) at 137,260 mt, down 0.8% WoW. As of this Thursday, the overall market inventory situation was as follows: Upstream: Hedging registered warrants continued to increase Upstream lithium chemical plants saw hedging registered warrant volumes continue to climb. The main reason was that futures prices remained at a relatively high level in the earlier period, traders' purchase pace slowed down, and lithium chemical plants' delivery willingness strengthened. As of now, total lithium carbonate warrants have exceeded 50,000 mt. Downstream: Shift from wait-and-see to active restocking, with significant inventory buildup Downstream material plants had low spot order purchase willingness during the earlier price highs, mainly relying on consuming prior inventory, early-month customer-supplied increments, and long-term contract orders to maintain production. As lithium carbonate prices gradually pulled back, material plants' procurement pace showed notable changes: during the early stage of the decline, restocking was primarily driven by rigid demand; as prices continued to fall, stockpiling willingness rose significantly, and buying sentiment turned positive. As a result, downstream material plants saw substantial inventory buildup this week. Additionally, the replenishment from ex-China imports also deserved attention, as the volume of imported lithium chemicals converted into downstream inventory increased. Other segments: Diverging inventory trends between battery cell manufacturers and traders The "other" segment in this large sample mainly covered battery cell manufacturers and traders. Among them, battery cell manufacturers increased their lithium carbonate customer-supply volumes to material plants to control costs during the earlier price highs, resulting in some destocking of their own inventory; as prices continued to decline, battery cell manufacturers' long-term stockpiling willingness grew stronger. Trader side, some enterprises, influenced by "invoicing economics," gradually slowed down their pace of taking spot orders from upstream lithium chemical plants. However, as prices pulled back and downstream buying sentiment turned positive, trader inventory saw significant destocking. Market Supplement: Gradual Conversion of Invisible Inventory to Visible Inventory It is worth noting that as new goods in the market were largely absorbed by demand, some older goods gradually converted from invisible inventory to visible inventory, circulating and being traded in the market. This was also one of the important reasons driving the current increase in warrant volume.

This week, ternary cathode material prices declined. On the raw material front, nickel sulfate and cobalt sulfate showed slight downward movements, manganese sulfate edged up, while lithium carbonate and lithium hydroxide saw significant pullbacks. In terms of transaction sentiment, after a month of sustained increases, the price correction for ternary cathode materials created pricing opportunities for manufacturers, and some battery cell manufacturers carried out restocking . On payables, the overall EV market continued to maintain existing payable levels , and June payables are expected to remain stable. On the consumer market front, due to relatively high spot contract transaction volumes and significant price volatility, some manufacturers expect upward adjustments to nickel sulfate payables in cathode materials next month . This is mainly driven by persistently high nickel sulfate production costs, upstream producers pushing prices higher due to cost pressures, with prices gradually transmitting downstream . On the demand side, the domestic EV market is currently in a phase of concentrated stockpiling for new models, with orders rebounding notably. The overseas market is also strong, driven by robust European vehicle sales and stockpiling for new product launches by some brands, collectively boosting orders for domestic cathode manufacturers. Overall demand in the consumer market remains relatively subdued, more reflected as need-based restocking by manufacturers. Overall, the ternary market is expected to maintain relatively high demand levels in June .

This week, ternary cathode material prices were lowered. Raw material side, nickel sulphate and cobalt sulphate showed a slight downward trend, manganese sulphate edged up, while lithium carbonate and lithium hydroxide saw significant pullbacks. Sentiment side, after a month of continuous rise, ternary cathode material prices experienced a pullback, creating pricing opportunities for producers, and some battery cell manufacturers restocked. Discount side, the EV market overall continued to maintain existing discount levels, and discounts are expected to remain stable in June. Consumer market side, due to high spot order trading volume and significant price fluctuations, some producers expect the discount for nickel sulphate in cathode materials to be raised next month. This is mainly because nickel sulphate production costs stay high, upstream enterprises are pushing for price increases due to cost pressure, and the price increases have gradually been passed through to downstream. Demand side, China's EV market is currently in a phase of concentrated stockpiling for new car models, with orders recovering notably; markets outside China, driven by strong performance in the European auto market and stockpiling for new product launches by some brands, also saw robust demand, jointly driving order growth for cathode plants in China. Consumer market demand overall remained mediocre, mostly reflecting rigid restocking needs of producers. Overall, total ternary market demand is expected to remain at a relatively high level in June.