On the evening of March 26, REPT BATTERO released its 2025 annual performance announcement. The company achieved annual operating revenue of 24.334 billion yuan, a year-on-year increase of 36.7%; and profit attributable to owners of the parent company of 623 million yuan. In 2025, the company's total sales of lithium battery products reached 82.7 GWh, a year-on-year increase of approximately 89.2%. Among these, revenue from power battery products was 10.013 billion yuan, up 35.6% year-on-year; revenue from energy storage battery products was 13.56 billion yuan, up 86.8% year-on-year, with its share of total revenue increasing by 14.9 percentage points to 55.7%.

[Cui Dongshu of the Passenger Vehicle Association: NEV price reductions averaged 12% in H1] From January to June 2025, the average price reduction for new NEV models reached 23,000 yuan, equivalent to a 12% decrease. In June, the average price reduction for new NEV models dropped to 15,000 yuan, representing a relatively low 10.4% reduction. During the same period, conventional internal combustion engine vehicles saw an average price reduction of 17,000 yuan (8.9%), while in June this figure fell to 14,000 yuan (8.6%). For the overall passenger vehicle market, the average price reduction from January to June reached 21,000 yuan (11.4%), with June's average reduction at 15,000 yuan (9.9%). [Lithium battery recycling plant fire in Spain remains uncontained after three days] A lithium battery recycling plant near Madrid, Spain caught fire on the 4th and remained ablaze as of the 6th. Two individuals were injured in the incident, according to reports. DPA news agency stated that firefighters continued battling the blaze at the industrial facility located approximately 50 kilometers northeast of Madrid. Multiple explosions triggered the fire, though the cause remains under investigation. (Cailian Press) [Four ministries: Automakers' large power charging networks should be open to all] The National Development and Reform Commission (NDRC) and three other departments issued the "Notice on Promoting Scientific Planning and Construction of Large Power Charging Facilities." The document mandates that project proponents complete filing procedures per the "Regulations on the Administration of Approval and Filing of Enterprise Investment Projects," with local authorities responsible for charging infrastructure development required to coordinate with investment regulators in supervising large power charging projects to prevent resource waste and disorderly construction. The notice emphasizes government guidance to promote efficient resource utilization, supports qualified operators with strong investment and operational capabilities in facility construction/renovation/operation, and encourages deployment of specialized large power charging infrastructure for buses, logistics, and heavy-duty freight. It stipulates that automakers' self-built large power charging networks should be universally accessible, and promotes commercial models integrating charging stations with dining, entertainment, shopping, and automotive services to enhance user experience. (Cailian PressZ7/>》Click for details [Apex (Wuxi) Co., Ltd. has 74 3C certificates suspended/revoked] Romoss and Anker Innovations recently announced recalls of multiple power bank models, involving over 1.2 million units. The State Administration for Market Regulation stated that the recall was due to metal foreign matter being mixed into the battery during production, posing safety risks of overheating or even combustion. It is understood that Apex (Wuxi) Co., Ltd. is one of the lithium battery suppliers for Romoss power banks. Currently, all 74 3C certificates held by Apex (Wuxi) Co., Ltd. have been suspended or revoked by the certification body. The Wuxi Municipal Market Supervision Bureau has sealed all lithium battery products produced by the company in accordance with regulations. (CCTV News) [CATL and Geely Deepen Strategic Cooperation Agreement] CATL and Geely Automobile recently officially signed a comprehensive electrification deepening strategic cooperation agreement. The two parties will take this signing as an opportunity to further deepen collaboration in areas including power battery technology synergy, product platform integration, and supply chain system construction, aiming to promote in-depth coordinated development across the entire industry chain and establish a more efficient and stable cooperation mechanism. (Cailian Press) [Mercedes-Benz Q2 Sales Reach 547,100 Units, Down 9% YoY] Mercedes-Benz sold 547,100 vehicles in Q2, down 9% YoY. The GLC remained Mercedes-Benz's best-selling model globally in H1 2025, with GLC sales increasing by 9% in Q2. Global plug-in hybrid vehicle sales grew 34% in Q2. In Europe, xEV market share reached 40%, and global xEV share hit 21% in Q2. (Cailian Press)

[CosMX Battery: Receives Designation Notice for Low-voltage Lithium Batteries from SAIC Volkswagen] CosMX Battery announced that it has recently received a designation notice from SAIC Volkswagen Automotive Co., Ltd., becoming a designated supplier of low-voltage lithium batteries for its vehicles. This marks a further enhancement in the market recognition of CosMX Battery's low-voltage lithium battery products for vehicles, demonstrating strong market competitiveness. CosMX Battery has previously secured designations from several leading automakers, both domestic and overseas, and has commenced mass production and supply. This designation notice will further strengthen the company's competitiveness and sustainable development capabilities in the low-voltage lithium battery business for vehicles, laying the foundation for increasing market share. With the mass production and launch of car models from partnering automakers, shipments are expected to grow rapidly.

[CosMX Battery: Main Structure of New-Type Lithium Battery Project Capped 50 Days Ahead of Schedule, Quasi-Solid-State Battery Passes Expert Panel Inspection] As of now, CosMX Battery's automotive low-voltage lithium battery products have passed the system audits of multiple automakers, and have successively secured designations from top-tier domestic and overseas automakers such as SAIC, IM Motors, GM, Jaguar Land Rover, Li Auto, Chery, GAC, Geely, Stellantis, Mercedes-Benz, and NIO. Serial mass production and supply have commenced, making it one of the fastest-growing brands in the automotive low-voltage battery market.

[CosMX Battery: Received Designation Notice for Low-voltage Lithium Batteries from SAIC Volkswagen] Today, CosMX Battery announced that it had recently received a designation notice from SAIC Volkswagen Automotive Co., Ltd., becoming a designated supplier of low-voltage lithium batteries for its vehicles. This marks a further enhancement in the market recognition of CosMX Battery's low-voltage lithium battery products for vehicles, demonstrating strong market competitiveness. CosMX Battery had previously secured designations from several leading domestic and overseas automakers and had commenced mass production and supply. This designation notice will further strengthen the company's competitiveness and sustainable development capabilities in the low-voltage lithium battery business for vehicles, laying the foundation for increasing market share. With the mass production and launch of car models from partner automakers, shipments are expected to grow rapidly.

[US to Significantly Reduce Tariffs on Chinese Lithium Batteries, Lithium Battery Industry Optimistic About Exports to the US] On May 12, China and the US issued a joint statement on the Geneva Economic and Trade Talks, announcing a general reduction in US tariffs on Chinese goods, potentially signaling a turning point for the lithium battery industry's exports to the US. Based on calculations from this statement, the current US tariff on Chinese automotive lithium batteries has been reduced to 58.4%, while the tariff on non-automotive lithium batteries has dropped to approximately 41%. "The (tariff) rate is lower than expected, which is a significant positive," multiple industry insiders from lithium battery companies told Caixin. US lithium battery products already have a base tariff of 3.4%. In August 2024, the US imposed an additional 25% tariff on Chinese automotive lithium batteries. If calculated based on the 145% tariff on China announced by the White House on April 10, prior to the joint statement, the cumulative import tariff on Chinese automotive lithium batteries reached as high as 173.4%, and the tariff on non-automotive lithium batteries was approximately 156%.

On April 2, since the introduction of Trump's reciprocal tariff policy, a global trade tsunami has been triggered. This series of measures taken by the US has caused a huge uproar worldwide. On April 4, China announced strong countermeasures, imposing an additional 34% tariff on all imported goods originating from the US, officially marking the beginning of a restructuring of the global trade order. The coldest moments often come just before the first light of dawn. This trade "war," regarded as the third launched by the US against the world in its history, has impacted global markets not only in terms of commodity trade but also in finance, capital, and even technology. Among these, the new energy industry chain is a critical link. According to Trump's latest tariff policy, a 25% tariff on cars, engines, transmissions, and lithium batteries has already taken effect. According to statistics, for lithium batteries and energy storage systems, the tariff structure is "3.4% base tariff + Section 301 tariff (ESS battery tariff to rise to 25% in 2026) + double 10% additional tariffs + 34% reciprocal tariff." In the short term, the tariff on power batteries will reach 73.4%, and the tariff on ESS batteries will reach 64.9%. For new energy vehicles, the overall tariff, after stacking, has risen to 147.5%. Under the influence of the tariff policy, the competitive advantage of domestic battery producers' lithium battery products exported to the US market will be reduced. Additionally, the US's generally high reciprocal tariff policy on Southeast Asian countries has also blocked domestic transit channels through third-party countries. As the new policy advances, increased competition in new energy projects is inevitable. In this context, the new round of tariff trade wars will have varying impacts on different segments of the lithium battery industry chain. Tremendous waves bring both dividends and opportunities, intertwined with hidden uncertainties and risks. How should practitioners in the new energy industry adapt to the changing times? Who will stand out in this market storm? Who will be the next "CATL"? In the darkest hour of the new energy industry, we need to seek and embrace new dawn. This is a new era, a time for both enterprises and individuals to transform and progress together. May 15-17, 2025, a grand event for batteries will capture the attention of the entire industry. Organized by the China Industrial Association of Power Sources, the "17th China International Battery Fair (CIBF2025)" will grandly open at the Shenzhen World Exhibition & Convention Center. Fifteen exhibition halls will gather 3,100 enterprises from both domestic and overseas markets, showcasing innovative technological achievements from upstream raw materials to end-use applications, and from power batteries to energy storage systems, where all segments of the industry chain converge. At the CIBF2025 Advanced Battery Frontier Technology Seminar held concurrently, Academician Sun Fengchun of the Chinese Academy of Engineering and a professor at Beijing Institute of Technology will share his profound insights on the technological progress and future prospects of high specific energy ultra-fast charging solid-state batteries. Ms. Zheng Yali from the China Society of Automotive Engineers will also elaborate on the current development status and trends of new energy vehicles (NEVs). Technological Evolution and Mobility: Innovation and Perseverance Lead to a Bright Future The tide of technology advances steadily, and the cutting-edge development and future trends of battery technology have become crucial factors in shaping the future energy landscape. Recently, BYD unveiled its "Megawatt Flash Charging" technology, enabling a driving range of over 400 kilometers with just a 5-minute charge. Several top-tier enterprises, including CATL, EVE, CALB, Farasis Energy, Gotion High-tech, Sunwoda, and SVOLT Energy Technology, are also deploying ultra-fast charging technologies exceeding 5C. The innovation model in the new energy industry is undergoing a transformation, shifting from isolated breakthroughs to integrated development. In this pivotal year for technological self-reliance and strength, a more robust industry chain landscape is being reshaped. Currently, top-tier battery enterprises such as CATL, BYD, EVE, Gotion High-tech, CORNEX New Energy, Sunwoda, and Lishen Battery have confirmed their participation in CIBF. Numerous material enterprises, including Dynanonic, Hunan Yuneng, and Enjie Shares, will also make a collective appearance. Representative enterprises in intelligent BMS and energy storage system (ESS) technologies will share their cutting-edge technologies during the exhibition. In this test of our shared human destiny, open cooperation remains the key driving force. China's papermaking and movable-type printing technologies crossed mountains and seas to reach Europe, inspiring European craftsmen to refine and upgrade them into the Gutenberg printing press. This significantly reduced the cost of book production and the difficulty of accessing knowledge, spawning the Renaissance and ultimately propelling a far-reaching industrial revolution. "Today, we stand at the forefront of a new industrial revolution, where outstanding enterprises compete fiercely and engage in joint industrial innovation. Through technological self-reliance, collaborative cooperation, and ecosystem construction, China's new energy technologies can open up new horizons," stated a relevant person in charge of CIBF. We have witnessed China's resolute determination in its pursuit of innovation and have also felt the resilience of individuals amidst the tides of change. Despite numerous challenges, as long as we work together with one heart, the battery industry will continue to "rise and thrive," always moving forward.

At the 2025 (10th) New Energy Industry Expo - New Energy PV ESS Forum hosted by SMM Information & Technology Co., Ltd. (SMM), Ye Mingyuan, a senior ESS consultant at SMM, shared insights on the topic of "Global ESS Market Development Opportunities and Challenges." The global energy transition is driving the growth of the ESS market. With the continuous rise in global renewable energy power generation, the ESS sector is experiencing new growth opportunities amid the energy transition. As global carbon reduction and carbon neutrality efforts progress, the shift from a fossil fuel-dominated energy structure to a clean and low-carbon energy system has become a clear trend, presenting development opportunities for renewable energy (PV & wind power). Countries worldwide are implementing carbon reduction and carbon neutrality actions. To date, over 190 countries have signed the Paris Agreement. By 2030, China, the US, and the EU are expected to achieve carbon reduction targets exceeding 50%, and as major economic powers, these regions will remain core areas for long-term carbon reduction. Against the backdrop of "carbon neutrality," energy structure adjustment has become a clear trend. Currently, renewable energy (PV & wind power) accounts for 31% of the energy mix. To achieve the "carbon neutrality" goal, the proportion of renewable energy is expected to increase to 42% by 2030 and exceed 53% by 2050. However, the instability of new energy power generation has stimulated the development of ESS. The global ESS market is showing different development trends due to energy transition and policy shifts. The growth rate of global ESS demand has slowed due to policy adjustments in China and the US, with an expected growth rate of around 5% in 2025. After 2025, as global ESS planning is gradually completed, the market will transition to a stock market. The successful transformation of the Chinese and US markets may lead to a rebound in growth, driving the global ESS market to grow at a compound annual growth rate (CAGR) of 10%. Global annual ESS system shipments are forecasted from 2024 to 2030. From 2024 to 2025, the demand in major ESS markets such as China and the US is expected to decline due to policy adjustments, while other markets will maintain a relatively high growth rate. ► The cancellation of mandatory energy storage allocation in China has led the Chinese ESS market into a transition period, with short-term demand declining. ► The US has imposed multiple tariff hikes, impacting the economics of local ESS projects, potentially leading to the cancellation or delay of many ESS projects. ► Other regions, in order to absorb new energy power generation and support the power grid, will maintain a relatively high growth rate. From 2025 to 2030, as global ESS planning is completed, the ESS market will transition from an incremental market to a stock market, with an expected growth rate of around 10%. By 2030, global ESS demand is expected to reach 480 GWh. ► From 2025 to 2030, the global ESS market will enter a stock phase, with most regions having a high completion rate of ESS planning. Although policy subsidies are expected to phase out, the establishment of ESS economics after PV ESS parity will continue to drive market growth. ► The success of China's power market reform in promoting ESS transformation will sustain high demand growth. The US market will still have ESS demand, and under stable policies, ESS is expected to maintain a high growth rate. The impact of policy fluctuations on the Chinese ESS market. Review and outlook of the Chinese ESS market. SMM expects the Chinese ESS market to achieve a CAGR of around 9.5% from 2025 to 2030. Power generation-side ESS in China may experience fluctuations due to changes in energy storage allocation policies. The cancellation of mandatory energy storage allocation, with no clear policies issued by provinces, may lead to a decline in demand. Document No. 136 cancels the mandatory energy storage allocation restrictions. In 2025, provinces will formulate policies based on Document No. 136 that align with their actual conditions. Some provinces and cities will continue mandatory energy storage allocation, while others will begin to phase it out. Most provinces and cities are still formulating policies, and demand is not yet fully clear. Industrial and commercial ESS will become an important incremental source for the Chinese ESS market. With the further improvement of time-of-use electricity prices and the further increase in electricity prices for high-energy-consuming enterprises, the economics of industrial and commercial ESS have significantly improved. • As the peak-valley electricity price spread continues to widen, the economic benefits of industrial and commercial ESS become more apparent. According to electricity price adjustment data released in 2024, the peak-valley electricity price spread in many provinces and cities continues to widen, with 16 provinces and cities having a peak-valley electricity price spread of over 0.7 yuan/kWh. SMM predicts that by 2030, the demand for industrial and commercial ESS on the user side is expected to reach around 30 GWh. The US ESS market under multiple influencing factors. Review and outlook of the North American ESS market. SMM expects the North American ESS market to achieve a CAGR of around 7.4% from 2025 to 2030. Large-scale ESS: Excessive tariffs will increase investment costs for US owners, reduce profits for Chinese suppliers, and lead to a decline in US ESS demand. 2025 Tariff: • In February 2025, an additional 10% tariff was imposed on Chinese products for the first time, affecting the delivery of ESS battery cells and BESS, as well as signed orders. US owners and Chinese suppliers need to consider how to share the 10% tariff. • In March 2025, an additional 10% tariff was imposed on Chinese products for the second time, bringing the total additional tariff to 20%. This further affects the delivery of ESS battery cells and BESS, as well as future orders, slowing the overall shipment pace. It is expected that US owners and Chinese suppliers will each bear half of the additional tariff, which will become the mainstream solution. • In April 2025, the Reciprocal Tariff was signed, in addition to raising the baseline tariff to 10%, a 34% reciprocal tariff was added. This tariff increase has created a high trade barrier for US ESS imports, severely compressing US ESS demand. 2026 Tariff: • The 301 Act is expected to be implemented in early 2026, imposing a 25% tariff on lithium battery products. User-side ESS: The ITC subsidy policy includes household ESS in the subsidy scope, promoting the development of user-side ESS in the US. According to SMM analysis, the ITC subsidy for user-side ESS will continue until 2034, enhancing the economics of household ESS. With policy support, user-side ESS will continue to develop rapidly. Residential electricity prices: In recent years, US residential electricity prices have remained high, rising from 12.55¢/kWh in 2016 to 15.96¢/kWh in 2024, an increase of 27.2%. High electricity prices have increased the necessity of "PV + ESS" for residents. ITC subsidy: The ITC subsidy policy increased the subsidy ratio for user-side ESS in 2023 and extended it to 2034. Stimulated by the policy, the economics of user-side ESS have improved. Power outage risk: The aging power grid equipment in the US is vulnerable to extreme weather, making power outages likely during peak electricity usage. This summer, as temperatures soared, two-thirds of North America faced the risk of energy shortages. Therefore, as the penetration rate of new energy increases, ESS as a rigid demand will also rise. The European ESS market at a turning point. Review and outlook of the European ESS market. SMM expects the European ESS market to achieve a CAGR of around 23.4% from 2025 to 2030. Large-scale ESS in Europe has begun to take shape, with multiple countries' plans driving future growth. In 2024, renewable energy accounted for over 27% of Europe's energy supply structure. According to SMM analysis, driven by Europe's energy transition, high electricity price volatility, and policy stimulus, power generation-side ESS is entering a fast track of growth. • Energy structure: Over the past five years, renewable energy in Europe has increased from 20% to 47%. The increase in front-of-the-meter new energy power generation has brought more power generation but also increased the load on the power grid, further strengthening the demand for power generation-side ESS to ensure stable power generation and transmission. • Impact of the Russia-Ukraine conflict: After the outbreak of the Russia-Ukraine conflict, energy trade between Russia and Europe was subject to multiple restrictions. Benefiting from Europe's new energy policies, new energy power generation and ESS have grown rapidly, reducing Europe's dependence on energy imports. In 2024, energy imports decreased by 9.2% YoY from 2021. • Policy stimulus: Led by the UK, Germany, Spain, and Poland, Europe has introduced stimulus policies for the development of the ESS industry, including government subsidies, electricity trading, peak shaving, and frequency regulation compensation. Recent market developments in the ESS industry. Monthly installations in major overseas ESS markets. US ESS monthly installations: Due to seasonal reasons, US ESS installations decreased MoM, but in February, the YoY growth rate exceeded 1,400%. This installation rush was mainly driven by grid demand and political struggles, characterized by non-replicability and occasionality, and it has overdrawn future demand. US installations may slow down subsequently. In January 2025, heavy snow in many areas led to a sudden increase in grid load, revealing the demand for large-scale ESS. Monthly installations increased compared to the previous year. At the beginning of 2025, constantly changing tariff policies put project costs under pressure, prompting owners to rush installations to avoid the impact of additional tariffs on project returns. German ESS monthly installations: Driven by policies and renewable energy installations, German ESS may have a profound impact on future ESS installation structures. With sufficient natural gas supply and a downward price trend, stable electricity prices, and the phase-out of household ESS subsidies, household ESS installations are showing a weakening trend. As new energy installations continue to increase, the grid's absorption capacity is limited. To support the grid and accommodate more new energy installations, power generation and grid-side ESS are needed to support the grid. Since entering 2024, ESS system costs have continued to decline, but the trend has slowed. The price of ESS battery cells is closely related to the price trend of lithium carbonate, the main raw material for batteries. Since entering 2024, the overall price of lithium carbonate has shown a downward trend, driving the cost of ESS systems to continue to decline. The winning bid price for 0.5C systems has also decreased significantly since 2024. However, the downward trend in costs has slowed. Click to view SMM's new energy product spot prices. SMM expects that the price of 314Ah battery cells may fluctuate downward overall, keeping ESS system costs at a low level. Click to view the special report on the 2025 (10th) New Energy Industry Expo.

After the conclusion of the CLNB 2025 (10th) New Energy Industry Chain Expo hosted by SMM, SMM has meticulously organized a field trip, composed of representatives from companies worldwide, including Atlantic Lithium, German Mineral Resources Agency (DERA), ING Wholesale Banking, and LG Energy Solution, etc. to visit multiple enterprises in the new energy industry chain.

【Ministry of Commerce on China-EU Auto Negotiations: China Willing to Resolve Trade Frictions Through Dialogue】 The Ministry of Commerce held a regular press conference on the afternoon of April 24. Reporter: China and the EU previously agreed to immediately launch negotiations on EV price commitments and discuss investment cooperation in the auto industry. Can the Ministry of Commerce provide an update on the current progress of these negotiations? Spokesperson He Yadong: Following the video meeting between Minister Wang Wentao and EU Trade and Economic Security Commissioner Šefčovič on April 8, the technical teams from both sides have maintained close communication on EV price commitments and trade investment cooperation, and are accelerating the negotiation process. China is willing to work with the EU to properly handle trade frictions through dialogue and consultation, deepen bilateral practical cooperation, and inject more certainty and positive energy into the Chinese, European, and global economies. 》Click for details 【GFEX Adjusts Price Limits and Margin Requirements for Futures Contracts During 2025 Labor Day Holiday】 Starting from the settlement on April 29, 2025 (Tuesday), the price limit for silicon metal futures contracts will be adjusted to 8%, with speculative trading margin requirements set at 10% and hedging margin requirements at 9%. The price limit for polysilicon futures contracts will be adjusted to 9%, with speculative trading margin requirements set at 11% and hedging margin requirements at 10%. The price limit for lithium carbonate futures contracts will be adjusted to 10%, with speculative trading margin requirements set at 12% and hedging margin requirements at 11%. (Cailian Press) 》Click for details 【Tesla’s Q1 Sales in Europe Plunge 45%】 Data released by the European Automobile Manufacturers Association on the 24th shows that new car registrations in the EU fell 1.9% YoY in the first three months of this year. The market share of EVs and hybrid vehicles continued to expand, while the share of traditional internal combustion engine vehicles shrank significantly. Data shows that gasoline car registrations fell 20.6% YoY to 779,000 units, accounting for 28.7% of the market. Diesel car registrations dropped 27.1%, with market share falling to 9.5%. Pure EV registrations rose 23.9% to 413,000 units, accounting for 15.2% of the market, up from 12% in the same period last year. Data shows that Tesla’s new car sales in Europe fell 45% YoY in Q1. (Cailian Press) 【China’s First Industry Standard for Safe Maritime Transport of Lithium Batteries to Take Effect in May】 Li Ying, spokesperson for the Ministry of Transport, stated at a press conference that the "Technical Requirements for the Safe Transport of Lithium Batteries by Ships" will take effect on May 1. The standard, consisting of 10 parts, 5 informative appendices, and 2 normative appendices, is China’s first industry standard for the safe maritime transport of lithium batteries. Compiled under the leadership of the Maritime Safety Administration of the Ministry of Transport, the standard integrates input from producers, testing agencies, port and shipping companies, and incorporates China’s experience and practices in lithium battery transport. It addresses gaps in existing international and domestic technical standards, ensuring safe and compliant transport of lithium battery products while resolving challenges in transport classification, labeling, and packaging for relevant production and transport companies. This effectively promotes the international trade and domestic safe circulation of China’s lithium battery products, enhancing the country’s competitiveness in the global new energy sector. (Cailian Press) 【Jinyang Co., Ltd. to Invest Up to $90 Million in Malaysian Lithium Battery Precision Component Project】 Jinyang Co., Ltd. (301210.SZ) announced that the company plans to invest in the construction of a lithium battery precision component project in Malaysia, with a total investment not exceeding $90 million. The funding will come from the company’s own funds or self-raised funds. The project will be implemented by a project company established in Malaysia through the company’s wholly-owned subsidiary in Singapore. The construction period is approximately 36 months. The company’s investment in a new production base in Malaysia aims to meet overseas market demand, optimize capacity layout, and enhance overall competitiveness. However, the project faces risks such as approval uncertainties, investment scale and progress uncertainties, overseas market competition, and internal control management. (Cailian Press) 【EVE Energy Reports Q1 Revenue and Non-GAAP Net Profit Up 37.34% and 16.60% YoY, Power Battery Business Expected to Continue Improving】 EVE Energy (300014.SZ) released its Q1 2025 report. Facing a deep adjustment in the new energy industry, the company achieved revenue of 12.796 billion yuan, up 37.34% YoY, demonstrating its lean management and resilience as an industry leader. Non-GAAP net profit attributable to the parent company was 817 million yuan, up 16.60% YoY. The company’s ESS and power battery shipments continued to grow rapidly in Q1. Benefiting from the volume increase of new energy vehicle models, breakthroughs in the plug-in hybrid market, and stable growth in commercial vehicle installations, EVE Energy’s power battery shipments reached 10.17 GWh in Q1, up 57.58% YoY, significantly outpacing the industry average. Meanwhile, the company is actively expanding into emerging markets such as eVTOL, drones, and robots, with some projects having completed the delivery of the first batch of samples. Overseas, the small cylindrical battery factory in Malaysia has been completed and put into production, ESS projects are expected to start mass production next year, and the Hungary base has begun construction, with the internationalization strategy expected to open a second growth curve. (Cailian Press) Related Reading: 【SMM Analysis】Weekly Review of Lithium Carbonate Market: Demand Falls Short of Expectations, Weekly Drop Exceeds 1,000 Yuan! 【SMM Analysis】Weekly Lithium Ore Market Review, 4.21-4.25 【SMM Analysis】Weekly Lithium Hydroxide Market Review, 4.21-4.25 【SMM Analysis】Recent Electrolyte Price Trends, 4.21-4.24, 2025 【SMM Analysis】ESS Battery Cell Price Trends, 4.17-4.24 【SMM Analysis】Spot Prices of Cobalt Tetroxide Slightly Decline This Week 【SMM Analysis】Ternary Cathode Material Prices Further Pull Back This Week 【SMM Analysis】Ternary Precursor Prices Rebound Slightly This Week 【SMM Analysis】Spot Prices of Refined Cobalt Rise Slightly 【SMM Analysis】Spot Prices of Cobalt Intermediate Products Remain Stable 【SMM Analysis】Cobalt Chloride Prices Rise Slightly This Week 【SMM Analysis】Spot Prices of Cobalt Sulphate Remain Stable, Market Sentiment Cautious 【SMM Analysis】Power Battery Cell Prices Remain Stable Overall, Ternary System Demand Under Pressure 【SMM Analysis】Negative Electrode Material Prices Remain Stable This Week 【SMM Analysis】Negative Electrode Raw Material Coke Prices Decline to Varying Degrees This Week 【SMM Analysis】Supply-Demand Pattern and Costs Remain Stable, Graphitisation Tolling Prices Unchanged This Week 【SMM Analysis】LFP Market Situation, 4.21-4.25 【SMM Analysis】China’s Unwrought Cobalt Exports and Export Prices Rise Significantly MoM in March 2025 【SMM Analysis】Cobalt Intermediate Product Imports Rise YoY and MoM in March 【SMM Analysis】Ultra-Fast Charging Technology Showdown: CATL vs. BYD 【SMM Analysis】Zimbabwe’s Step Aside Lithium Mine Project Initiates Asset Liquidation: Focus on Strategic Adjustments and Market Opportunities 2025 (10th) New Energy Industry Expo Concludes Successfully! Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate【New Energy Summit】 【SMM Analysis】China’s Spodumene Imports Total 534,500 mt in March 【SMM Data】LiPF6 Import and Export Data for March 2025 【SMM Analysis】LFP Material Import and Export Situation in March 【SMM Analysis】Ternary Cathode Imports and Exports in March: Imports Up 31% MoM, Exports Up 36% MoM 【SMM Analysis】Market Recovery in March, Artificial Graphite Exports Increase 【SMM Analysis】Analysis of Ternary Precursor Exports in March