According to SMM data, compared with the rapid growth of cathode and anode materials, the electrolyte and battery cell markets maintained high YoY growth but were affected in the short term by factors such as cost control, capacity alignment, and the pace of end-use demand release, presenting an operational landscape of "stability with adjustments."

On April 29, 2026, Zhongyi Group (Jilin) New Energy Technology Co., Ltd.'s 100kt/year sodium-ion battery hard carbon anode material project completed filing in Liuhe County, Tonghua, Jilin. The project has a total investment of 1.495 billion yuan and will be constructed in two phases, with plans to commence construction in December 2026 and complete in December 2029. The company is a Sino-foreign joint venture high-tech enterprise with existing capacity of 300,000 mt of anode materials. Leveraging green electricity production and over 100 patented technologies, it focuses on the sodium-ion battery anode material sector. North-east China, with its low-temperature adaptability and policy support, is becoming a hot topic for sodium-ion battery industry deployment. Jilin plans to achieve new-type energy storage ESS installations of no less than 3 million kW by 2030, continuously promoting sodium-ion battery R&D and extreme-cold testing base construction.

Recently, Jiana Energy's subsidiary Chibi Luoneng New Energy completed the filing for its sodium-ion battery biomass hard carbon anode project. With a total investment of 17 million yuan, the project will renovate 3,500 m² of factory space and is expected to produce 3,000 mt of sodium-ion battery biomass hard carbon anode annually, with construction planned to commence in May. Previously, Jiana Energy had established a 1,200 mt purified hard carbon pilot project in Huangshi. Combined with the launch of the Chibi project, the company's hard carbon anode capacity footprint is further expanding. Leveraging its iron-based polyanion cathode plus biomass hard carbon anode technology route, Jiana Energy continues to enhance its upstream and downstream sodium-ion battery industry chain, facilitating cost reduction and accelerating the scaling and industrialisation of the sodium-ion battery industry chain.

[SMM Analysis: Anode Material Achieves Track Upgrade Riding the Tailwind of Battery Cell Technology] The material upgrade demand on the battery cell side is effectively driving structural growth in demand for sub-segments such as silicon carbon anode, hard carbon anode, and high-end modified graphite.

As production order fully resumed after the Chinese New Year, the sodium-ion battery industry chain saw a strong recovery in March. Production across the four major segments—cathode, anode, electrolyte, and battery cell—posted substantial growth both YoY and MoM, with industry prosperity rebounding markedly.

In 2026, the correction in lithium carbonate prices drove up lithium battery production costs. Coupled with uncertainties in lithium resources supply, cost pressure across the new energy industry became increasingly prominent. Leveraging the advantages of abundant sodium resources, balanced distribution, and controllable costs, sodium-ion batteries have leapt from being a “backup option” for lithium batteries to a key direction for industry breakthrough...

On March 17, Shengquan Group (605589.SH) disclosed on the investor interaction platform that the company had completed construction of a 10 kt sodium-ion battery hard carbon anode production line. Products developed based on the dual technology routes of biomass refining and resin have successfully entered the supply chains of leading battery cell enterprises and can be adapted to multiple application scenarios including energy storage and 3C. The industrialisation layout of sodium-ion battery materials has achieved a key breakthrough.

February 2026 coincided with the Chinese New Year holiday. Affected by holiday factors, production pace across core segments of China’s sodium-ion battery industry generally slowed, showing an “off-season reset” trend. From cathodes, anodes, and electrolyte to battery cells and end-users, production across all segments declined MoM to varying degrees, while YoY still maintained a certain degree of growth resilience.

Recently, Sunrise New Energy (EPOW.US) announced progress in its sodium-ion battery business. In 2025, the company was approved for two major special projects by the Guizhou Provincial Department of Science and Technology, focusing on the R&D of "hard carbon anode materials for sodium-ion batteries." The project is expected to commence construction in H2 2026 and is anticipated to begin production this year, further expanding its technological layout. It is reported that the project primarily leverages Guizhou and Qianxinan's abundant coal resources, as well as biomass resources such as moso bamboo, walnut shells, and corn stalks, to conduct research and application of high-performance hard carbon anode materials for sodium-ion batteries. The aim is to enhance the quality of hard carbon anode materials, achieve energy utilization of certain biomass scrap, and promote the enterprise's economical and green development.

With the continuous promotion of national policies and the rapid advancement of battery technology, the installations of lithium batteries have been increasing year by year, and sodium-ion batteries are also thriving. This trend has significantly driven the domestic demand for battery anode materials. Looking back from 2023 to the present, the capacity of anode materials has expanded rapidly. However, due to over-planning in the early stages and rapid development, the market is currently facing a contradiction between overcapacity and insufficient demand, exacerbating phenomena such as losses and competition among anode-related enterprises. In recent years, the anode material market has undergone tremendous changes. Traditional anode materials have been steadily developing, new-type anode material technologies have continuously emerged, and new production processes have been continuously innovated, such as the continuous upgrading and optimization of traditional graphite anodes, the R&D of silicon-based anodes and hard carbon anodes, and the innovation of continuous graphitisation processes. The entire industry chain has been making continuous progress, driving the development of the industry. To facilitate industry peers in gaining a clearer and more intuitive understanding of the global market distribution of lead ingot raw materials, SMM (Shanghai Metals Market) has joined hands with Sichuan Jinhuineng New Materials Co., Ltd. to grandly launch the "2025 China Silicon-Based Anode Material Industry Distribution Map" , which will be printed and distributed to upstream and downstream customers in the industry after annotation and typesetting. This map aims to provide authoritative, comprehensive, and professional enterprise distribution information to clients across the entire industry chain, helping them understand the layout of the national anode material industry chain and promoting the healthy development and rapid upgrading of the new energy industry. Sichuan Jinhuineng New Materials Co., Ltd., originated from Shenzhen Jinrun Company established in 2004, was transformed from the pilot platform of the Institute of Metal Research, Chinese Academy of Sciences, led by Academician Cheng Huiming. It has accumulated 20 years of experience in lithium battery material technology. Headquartered in Chengdu, Sichuan, China, it is a professional manufacturer integrating R&D, production, and sales of lithium-ion battery anode materials. It owns wholly-owned subsidiaries such as Shenzhen Jinrun, Sichuan Jintaineng, Ya'an Jinhuineng, Chongqing Jinhuineng, and Anhui Jinhuineng. It has established three R&D and innovation centers: the "Anode Material Development Center, Analysis and Testing Center, and Application Development Center," as well as three scientific research platforms: the Enterprise Postdoctoral Workstation, the Key Engineering Laboratory for Anode Materials of Lithium-Ion Power Batteries, and the National Enterprise Technology Center. Achieving full life cycle, entire industry chain, and integrated production in the anode industry Nearly 50 national invention patents National "Specialized, Sophisticated, Unique, and New" Little Giant Enterprise National High-Tech Enterprise IATF16949 Certification for the Automotive Industry Most Promising Enterprise Award in the Lithium Battery Anode Material Industry for 2023 Outstanding Supplier in China's Lithium Battery Anode Material Industry in 2022 Leading Editorial Unit for the "Technical Specification for Production of Anode Materials for Lithium-ion Batteries" Undertaking Unit for Major Projects under the National Strategy of the "Chengdu-Chongqing Twin-City Economic Circle" Top 100 New Economy Demonstration Enterprises in Sichuan Province Sichuan Provincial Enterprise Technology Center Please scan the QR code to receive the SMM map Contact for SMM Map Co-production Chen Qi 17265280978 chenqi@smm.cn