On August 10, the Zhijin Branch of the Bijie Ecological Environment Bureau in Guizhou Province released the first public notice for the environmental impact assessment of the "100,000 Tons/Year Sodium-Ion Battery Cathode Material Production Base Project (Phase I, Stage 1)." The project is located in the Zhijin Economic Development Zone (Anle Community, Chadian Township), Bijie City, Guizhou Province, with the construction entity being Guizhou Nabang New Energy Co., Ltd. The total investment for Phase I, Stage 1, is 108.3844 million yuan. The construction involves renting a factory building to build a new sodium battery plant (including a finished goods warehouse), along with supporting facilities for electrical systems, instrumentation, water supply and drainage, fire protection, and information technology. Upon completion, the project will have an annual production capacity of 5,500 tons of sodium-ion battery cathode materials (of the polyanionic type).

This week, industry chain prices diverged. Lithium ore edged down alongside lithium carbonate, but mines continued to hold prices firm, making profit distribution across the industry chain a market focus. Supported by maintenance and tight spot order supply, lithium carbonate prices consolidated on a subdued note, while lithium hydroxide prices initially fell before rebounding. The cobalt industry chain remained generally under pressure—with weakening overseas quotations and sluggish off-season demand, refined cobalt, intermediate products, and cobalt salt prices continued to weaken, and the price spread between buyers and sellers widened. Nickel sulphate edged down, with the market still primarily focused on destocking; ternary cathode precursor prices declined due to weaker nickel and cobalt salt prices, while ternary cathode material prices remained basically stable. LFP prices proved resilient, supported by rising processing fees, with August production schedules continuing to grow and high-quality capacity remaining tight. Artificial graphite prices rose, the supply-demand balance for separators stayed in tight balance, and electrolyte prices were pushed up by raw material cost transmission. Supply of key materials for sodium-ion batteries remained tight, while recycling-side transactions were subdued. On the terminal side, EV and ESS demand maintained resilience, though the consumer market recovery remained limited. Looking ahead, the focus will be on peak season stockpiling and demand realization.

In July, the sodium-ion battery materials market sustained strong momentum, with both cathode and anode segments showing clear signs of “robust demand, strained capacity.” Orders from downstream battery cell manufacturers continued to surge, particularly as the penetration rate of the polyanion route in energy storage applications accelerated, pushing upstream material enterprises to near-full-capacity operations.

In H1 2026, global lithium battery ESS shipments reached 461.3 GWh, up 71% from 269.7 GWh in the same period last year. The overall market presented a competitive landscape of "the first tier remains dominant, the second and third tiers are locked in a melee, while other enterprises struggle to survive in the cracks.

[SMM Cobalt & Lithium Morning Call: Raw Material Prices Diverge, Industry Demand Maintains Structural Support] This week, industry chain prices showed divergence. Lithium ore, lithium chemicals, nickel chemicals and cobalt products were overall under pressure. Downstream procurement remained focused on long-term contract cargo pick-ups and essential restocking, and the market still held expectations of increasing supply and price declines in the long term. Cathode material side, ternary system prices pulled back along with raw material costs, while LFP and iron phosphate strengthened slightly, supported by order growth and cost support. Anode and separator markets held stable overall, and electrolyte moved up, driven by rising additive and solvent prices. Demand from energy storage, commercial vehicles and markets outside China maintained good performance, supporting continued growth in the industry's production schedules, but recovery on the consumption side remained relatively slow.

In recent years, China's lithium battery industry, leveraging mature technology systems and well-established industry chain support, has long underpinned the rapid development of the new energy industry in China and even globally, serving as the mainstay of the current energy storage and power battery markets. To further optimize the battery industry structure and diversify new-type battery technology pathways, relevant new policies in China have recently clarified that battery consumption tax will be levied on lithium batteries in phases, while sodium-ion batteries will be exempt from the battery consumption tax from September 1 this year through the end of 2028, in order to further cultivate the sodium-ion battery industry, which is still in its early growth stage. The 2%–4% tax rate differential over 28 months creates a critical window of opportunity to accelerate the large-scale deployment and commercialization of sodium-ion batteries.

SMM reported on July 31: Spot quotes for cobalt-related products continued to decline this week. The spot market demand remained sluggish. Before any concentrated restocking by downstream enterprises, cobalt salt prices showed an overall slow downward trend... SMM compiled the price changes of cobalt-related products this week, as follows: : According to SMM spot quotes, the center of refined cobalt spot quotes continued to shift downward this week. Although it rose by 1,500 yuan/mt on the last trading day, as of July 31, refined cobalt spot quotes were at 338,000-355,000 yuan/mt, with an average of 346,500 yuan/mt, down 3,500 yuan/mt or 1% from 350,000 yuan/mt on July 24. From the supply-demand side, on the supply end, mainstream smelters lowered ex-factory quotes to 355,000 yuan/mt, while other small and medium smelters basically suspended external quotes due to increased loss pressures. After continued destocking in the trade sector, available-for-sale inventories dropped to relatively low levels. Some enterprises, based on bullish expectations for the future, began to slow down their shipment pace, and a few quoting enterprises maintained the spot-futures price spread at a premium of 1,000-10,000 yuan/mt. On the demand side, downstream enterprises were still in the summer break period, with generally weak purchase willingness, only maintaining small-scale rigid restocking. Overall, July-August is the traditional consumption off-season for refined cobalt, with limited demand support. In the short term, prices may continue to be in the doldrums. Cobalt Salt (and ): : According to SMM spot quotes, cobalt sulphate spot quotes continued to fall this week. As of July 31, spot quotes dropped to 81,000-82,000 yuan/mt, with an average of 81,500 yuan/mt, down 1,500 yuan/mt or 1.81% from 83,000 yuan/mt on July 24. SMM learned that the divergence between upstream and downstream for cobalt sulphate further intensified this week, with limited actual trading. On the supply side, primary smelters using intermediate products and MHP, supported by costs, still held firm quotes above 80,000 yuan/mt. Recyclers, leveraging raw material cost advantages, concentrated their quotes in the 76,000-78,000 yuan/mt range, with a few aggressive sellers able to go below 75,000 yuan/mt. The demand side remained sluggish, with downstream enterprises showing insufficient purchase willingness and leaning toward non-standard or old cargo sources to lower procurement costs. Recently, there were transactions of substandard goods and old cargo below 73,000 yuan/mt. Adjusted for quality, the actual price difference from new products was limited. However, in a weak demand environment, this price level was used by downstream as a bargaining benchmark, forcing some recyclers to passively follow suit. Moreover, after the sustained drop in refined cobalt, the cost of producing cobalt sulphate through re-dissolution fell to 72,000-73,000 yuan/mt, further strengthening downstream pressure for lower prices. In the short term, the cobalt salt market shows a slow downward trend. A stabilization and recovery will have to wait for the release of concentrated downstream restocking demand, which is expected to occur no earlier than mid-to-late August . : According to SMM spot quotes, cobalt chloride spot quotes continued to fall this week. After dropping 3,000 yuan/mt on the last trading day, spot quotes fell to 95,000-98,000 yuan/mt, with an average of 96,500 yuan/mt, a decline of 3.02% from 99,500 yuan/mt on July 24. In the spot market, SMM learned that the cobalt chloride market remained sluggish this week, with trading at minimal levels. On the supply side, from a real-time cost perspective, the cost of recycled materials and the re-smelting path for refined cobalt were already significantly lower than current market and actual trading prices. The key factor affecting enterprise pricing was that upstream smelters generally held large-scale inventories, mostly high-cost, and faced with a continuously falling market, it was difficult to lower average costs through low-price procurement. Therefore, high-cost inventory provided some support to quotes, which remained relatively firm. However, at the same time, some enterprises had already begun to gradually lower quotes to promote shipments, trying to spread out earlier losses by accelerating turnover. Yet, downstream absorption capacity was extremely limited, and even price reductions could not lead to volume trading. On the demand side, Co3O4 enterprises themselves had high inventory levels, with no signs of demand growth, and current purchase willingness was very low. Overall, in the short term, cobalt chloride prices still have downside room. : According to SMM spot quotes, Co3O4 spot quotes also showed a downward trend this week. As of July 31, spot quotes fell to 300,000-320,000 yuan/mt, with an average of 310,000 yuan/mt, down 10,000 yuan/mt or 3.13% from 320,000 yuan/mt on July 24. In the spot market, SMM learned that the Co3O4 market was also quiet this week, with low trading volumes. On the supply side, with high inventory levels, enterprises faced the dilemma of thin profits under current raw material cost accounting and the risk of inventory buildup, so they generally kept production at lower levels. Although there were occasional rumors of ultra-low-priced cargo, based on communications with various parties, the existence of some ultra-low-price deals was not denied, but they were not enough to represent the mainstream market. On the demand side, cathode plants had some inquiries, but actual purchases were limited. Current raw material inventories were sufficient to support production, with no urgent restocking needs. Overall, Co3O4 prices also have the potential to further decline in the short term. On the news front, in corporate developments, Chengtun Mining released its H1 2026 report, mentioning that the company achieved revenue of 19.264 billion yuan in H1, up 39.56% YoY; net profit attributable to shareholders of the publicly listed firm was 1.804 billion yuan, up 71.37% YoY. Chengtun Mining stated that during the reporting period, its energy metal business achieved revenue of 14.543 billion yuan, with a gross margin of 27.03%, basically consistent with the previous year. In H1 2026, copper production was 133,200 mt in metal content, cobalt production 3,700 mt in metal content, and nickel production 21,200 mt in metal content. Copper-cobalt segment: ① During the reporting period, the company's DRC copper-cobalt segment achieved stable output, with copper production reaching 132,200 mt in metal content, of which Xiongdi Mining achieved 74,400 mt in metal content. The company addressed the power shortage issue through a multi-type energy combination, building a modern energy system integrating specialization, intensification, and integration, boosting both operational efficiency and scale. ② Dali Sanxin actively advanced mine construction, aiming for trial production in Q4. Currently, land and other related procedures have been completed, well engineering is basically finished, and surface civil engineering construction is being actively promoted. ③ In April 2026, the company disclosed the planned acquisition of a 50% stake in Nkoyi Leopard Mining and Investment Limited, to indirectly obtain a 30% interest in a large specific copper-cobalt mining right. The deal was completed in July 2026, and cooperation on the mine is proceeding normally. During the reporting period, the company actively sought sustainable resource guarantees through exploration in potential areas and pursuing extensive copper resource M&A and cooperation. Furthermore, CNGR also released its H1 2026 performance forecast, expecting net profit attributable to shareholders of the publicly listed firm in H1 2026 to be in the range of 1.25-1.35 billion yuan, up 70.58%-84.23% YoY. Regarding the reasons for the performance change, CNGR stated that during the reporting period, the company seized the high-development opportunities in the global new energy industry and, leveraging its leading position in the battery materials field, achieved total sales of core products such as nickel-based, cobalt-based, phosphorus-based, and sodium-based materials exceeding 250,000 mt. By segment, ternary cathode precursor sales grew over 50% YoY in H1, with stable overall gross margin, further solidifying its industry-leading position; phosphorus-based material sales grew over 25% YoY, with profitability elasticity significantly released, successfully turning losses into profits; and sodium-ion battery precursor material sales maintained a high growth trend, continuing its industry leadership. Additionally, the company's upstream resource layout yielded notable results, with investment income from laterite nickel ore steadily increasing; the Indonesian pyrometallurgy nickel smelting project, with its cost advantages, effectively hedged local policy changes and maintained excellent profitability. Overall, the company's "resource + smelting + materials" entire industry chain integration advantage continued to deepen, with all business segments working synergistically to build a safety margin and anti-cyclical resilience for its operations.

[Solid-State Battery: LG Energy Solution Swings to Profit in Q2, Launches All-Solid-State Dry Electrode Pilot Line in H2] On July 30, 2026, LG Energy Solution announced its Q2 2026 financial results, with revenue of 7.6 trillion won and operating profit of 113.3 billion won. H1 revenue reached 14.1 trillion won, up 10.5% YoY. The company announced that it will establish a pilot line for all-solid-state batteries using dry electrode process in H2 2026 to accelerate product development and mass production preparation, but did not disclose details such as location, capacity, and commissioning time. Meanwhile, the company plans to deliver sodium-ion battery samples to clients in 2027. This move indicates that LG Energy Solution is accelerating its catch-up with top-tier players such as CATL, and the dry electrode process is seen as a key path to reducing solid-state battery costs. The industry timetable consensus remains semi-solid-state batteries in vehicles in 2026, small-batch all-solid-state battery production in 2027, and large-scale commercial use after 2030.

Driven by the transformation of the global energy structure and the "dual carbon" goals, battery technology is evolving from a traditional power 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 intense technological explosion with numerous contenders. This conference brings together top global scholars, industry chain leaders, and capital forces, aiming to break down the barriers between "industry, academia, research, and application." We will delve into key topics such as high energy density, ultimate safety, ultra-fast charging, and recycling and reuse, jointly drawing a new blueprint for a green, efficient, and sustainable energy future. Guangdong Highstar Sodium Star Technology Co., Ltd. will attend this grand event, discuss industry development trends with industry peers, and jointly promote battery technology to new heights. Fill out the form now to sign up for the conference, witness and participate in this extraordinary and far-reaching industry event, and create a brilliant new chapter together! Booth No.: A9 Guangdong Highstar Sodium Star Technology Co., Ltd. (referred to as "Highstar Sodium Star") is deeply engaged in the sodium-ion battery field. It is a high-tech enterprise integrating R&D, intelligent manufacturing, and full-scenario supporting services. The company continuously pushes the boundaries of sodium-ion battery technology, with core advantages of "high safety, high C-rate, wide temperature range, and long cycle life," creating complete solutions from battery cell innovation to system integration. Highstar Sodium Star is one of the global leading brands in the sodium-ion battery industry. It has launched multiple NFPP sodium-ion battery cells and system products, widely used in energy storage, automotive start-stop systems, communication base stations and computing centers, special vehicles, and other fields. It has pioneered the industry by obtaining international authoritative certifications such as TÜV SÜD, UL, IEC, and CGC, and is also one of the first entities to pass the national sodium-ion battery evaluation of CESI. Leveraging the group's 30-year technical heritage in secondary battery development, Highstar Sodium Star stands at the forefront of the new energy industry transformation. With innovation as the engine and technology as the sharp blade, it is fully driving the global new energy industry towards a new journey of green transformation. Highstar Sodium Star focuses on the industrialisation advancement, technological breakthroughs, and global market deployment of sodium-ion batteries, as detailed below: Project Commissioning and Capacity Expansion 6 GWh Sodium-Ion Battery Project in Neijiang, Sichuan : With a total investment of 800 million yuan, the project is located in the Neijiang Economic and Technological Development Zone, Sichuan Province. It plans to build intelligent production lines for large cylindrical and ultra-large prismatic sodium-ion battery cells, targeting the start-stop systems for fuel-powered vehicles and NEVs, as well as large-scale industrial energy storage sectors. The first production lines were expected to commence production in June 2026, and after reaching full production, the annual output value is expected to exceed 3 billion yuan. Guangzhou Headquarters and Automotive Start-Stop Battery Pack Assembly Base Established : Put into production in March 2026, focusing on automotive start-stop battery pack assembly, equipped with intelligent production lines and headquarters function center, strengthening the new energy industry chain layout in south China. Technology Collaboration and Ecosystem Building Strategic Cooperation Upgraded : Signed an agreement with the National New-type Energy Storage Research Institute to become one of its first ecosystem partners, participating in energy storage standard setting, technical breakthroughs, and industrial application demonstrations; joined the go-global industry cluster established by enterprises such as Huawei and China Southern Power Grid, with its technology gaining global competitiveness certification. Product Innovation and Market Performance Sodium-Ion Batteries and Solutions : Highstar Sodium Star focuses on core technology R&D for sodium-ion batteries, has formed a differentiated product matrix, and launched various cylindrical and prismatic sodium-ion batteries, widely applied in multi-scenario demands such as energy storage, automotive start-stop, communication base stations and computing power centers, and special-purpose vehicles, providing clients with efficient and reliable energy solutions. 1 ) 15Ah sodium-ion all-tab cylindrical battery cell, focused on automotive start-stop power supply) 2 ) 160Ah sodium-ion prismatic battery cell, supporting utility-scale energy storage, commercial and industrial energy storage, residential ESS, and communication backup power, 3 ) 50Ah sodium-ion prismatic battery cell, supporting small power supply and special-purpose vehicle power supply, Large-capacity prismatic cells: plan to launch 400Ah+ ultra-large-capacity sodium-ion prismatic cells tailored for energy storage and backup power scenarios in 2026 Technical route: Adopting polyanion material system, demonstrating excellent performance in cycle life, safety, operating temperature range, and C-rate performance, meeting the high safety requirements of sectors such as energy storage and data centers, while also laying out the R&D and optimization of multiple technical routes including solid-state/semi-solid-state. Industry Influence and Honors With outstanding brand influence, breakthrough technological innovation, and industry leadership, in 2025 won over ten major authoritative honors in and outside China, including 'Annual Brand Enterprise Award' / 'Annual Innovative Product Award' / 'Annual Market Development Award' In summary, Highstar Sodium Star is accelerating the industrialisation of sodium-ion batteries through capacity expansion, technology iteration, ecosystem cooperation, and global layout, consolidating its leading position in the new energy field. Main Products Sodium-ion battery cells (prismatic/cylindrical), sodium-ion integrated energy storage cabinet systems, sodium-ion energy storage container systems, sodium-ion automotive start-stop battery systems, sodium-ion communication backup power systems, sodium-ion special-purpose vehicle power systems, lead-to-sodium conversion systems Long press 2026 SMM Battery Technology Conference

[SMM Cobalt Lithium Morning Meeting Summary: Raw Material Price Divergence Intensifies; Energy Storage Demand Supports Continued Industry Prosperity] This week, the relevant material markets continued to diverge in performance. Upstream ore prices stopped falling and rebounded, but high-price transactions remained constrained. Some ex-China capacities gradually recovered, and market attention shifted from supply disruptions to the pace of new capacity releases. Salt products were supported by maintenance outages, tightening circulation of spot orders, and low inventories, leading to somewhat active spot transactions. However, downstream players still mainly made just-in-time procurement on price dips, and concentrated stockpiling has yet to emerge. The cobalt industry chain remained under pressure overall, with the price centers of refined cobalt, intermediate products, cobalt salts, and cobalt powder shifting downward. Off-season demand, inventory pressure, and low-priced cargoes continued to weigh on the market. Nickel sulphate inventories declined, and cost support strengthened somewhat. Prices of ternary cathode precursors and ternary cathode materials generally remained stable. The LFP, electrolyte, and sodium-ion battery sectors performed relatively strongly, with demand from energy storage, commercial vehicles, and Q3 stockpiling driving production schedules higher. Inventories of some products continued to decline. The anode and separator markets were generally stable. Different raw material varieties in the recycling sector showed divergent performance. The overall industry chain remained in a phase of concurrent demand improvement and cost pass-through.