[SMM Data: Complete Summary of SMM March 2026 Import and Export Data] SMM March 2026 import and export data showed: copper cathode net imports were lower YoY; primary aluminum imports reached 255,000 mt, up 14.8% YoY; refined lead imports surged significantly; zinc ingot imports were up 220% MoM; tin ore imports were up 122% YoY; silver imports were up 93% MoM; steel exports rebounded MoM; PV module export value was up 122.7% MoM; silicon metal exports were up 43% MoM, and magnesium exports hit a multi-year high. Among new energy materials, exports of LiPF6 and artificial graphite surged significantly.

In March 2026, China’s alumina imports and exports showed significant changes: imports totaled 338,300 metric tons, an 86.9% increase from the previous month, but a substantial 2,928.8% increase year-over-year; exports totaled 209,400 metric tons, a 43% increase from the previous month, but a 29.4% decrease year-over-year.

The State Council Information Office held a press conference at 10 a.m. today. Fu Linghui, spokesperson for the National Bureau of Statistics (NBS) and Director of the Department of Comprehensive Statistics of National Economy, introduced the performance of China's national economy in May 2025 and answered questions from journalists. NBS: Economic Performance in May Generally Stable, with Continued Improvement in Some Indicators At the press conference held by the State Council Information Office, Fu Linghui stated that the economy performed generally stable in May, with continued improvement in some indicators. New growth drivers expanded, and the momentum of high-quality development continued, demonstrating the strong resilience and vitality of China's economy. In May, influenced by factors such as the trade-in policy for consumer goods, market sales growth accelerated. Total retail sales of consumer goods in May increased by 6.4% YoY, with the growth rate accelerating by 1.3 percentage points compared to the previous month. From January to May, service retail sales increased by 5.2%, accelerating by 0.1 percentage point compared to the January-April period. The acceleration of consumption growth, especially the expansion of service consumption, is also boosting related service industries. In May, the production indices of the wholesale and retail trade, accommodation and catering industries all accelerated compared to the previous month. Meanwhile, new growth drivers such as high-end manufacturing, the digital economy, and the new energy industry continued to expand, effectively promoting industrial transformation and ensuring stable economic performance. NBS: China's Policy Toolbox is Well-Stocked, with Macro Policies Held in Reserve At the press conference held by the State Council Information Office, Fu Linghui stated that since the beginning of this year, China has implemented more proactive macro policies, intensified counter-cyclical adjustments, and accelerated the implementation of major national strategies and the development of security capabilities in key areas ("two majors") and the program of large-scale equipment upgrades and consumer goods trade-ins ("two news"). These efforts have effectively enhanced the vitality of consumption, driven production growth, and promoted transformation and upgrading, fully demonstrating the important role of macro policies in stabilizing economic performance. In the next stage, China's policy toolbox is well-stocked, with macro policies held in reserve. They can be dynamically adjusted and actively responded to according to changes in the situation, and will continue to safeguard the stable operation of the economy. NBS: Youth Unemployment Rate Declines for Three Consecutive Months, Employment Situation Remains Stable At the press conference held by the State Council Information Office, Fu Linghui stated that the surveyed urban unemployment rate in China was 5.0% in May, a decrease of 0.1 percentage point from the previous month. Among them, the unemployment rate of the main employment group remained stable, and the youth unemployment rate declined for three consecutive months, indicating a continued stable employment situation. NBS: The Decline in China's Goods Imports is the Result of Multiple Factors At the press conference held by the State Council Information Office, Fu Linghui stated that since the beginning of this year, the decline in China's goods imports is the result of multiple factors. Since the beginning of this year, affected by the uncertainty of international trade policies, the growth momentum of the global economy has weakened, and global trade growth has also slowed down, which inevitably affects the growth of China's imports. Meanwhile, some countries have intensified trade restrictive measures, which have also had some adverse impacts on China's imports. In addition, international commodity prices have declined significantly this year, particularly energy prices. As a major importer of energy and raw materials, the decline in commodity prices has affected the growth of China's import value, as seen in the import values of products such as iron ore, crude oil, coal, and soybeans. Fu Linghui stated that while the import value of some commodities has declined, China's imports of major industrial products have maintained growth. In the first five months, the import value of mechanical and electrical products increased by 6% YoY, with imports of automatic data processing equipment and its parts, as well as integrated circuits, increasing by 69% and 7.3%, respectively. In the next stage, with the continuous expansion of domestic demand and the orderly expansion of independent and unilateral opening-up, China's vast market will undoubtedly provide greater opportunities and more choices for the world. National Bureau of Statistics (NBS): The real estate market continues to move towards stabilizing and recovering Fu Linghui stated at a press conference held by the State Council Information Office that since the beginning of this year, with the accelerated implementation of various policies to stabilize the real estate market, the market has continued to move towards stabilizing and recovering. Judging from the situation in May, the real estate market has generally operated smoothly. The YoY decline in housing prices in 70 large and medium-sized cities has continued to narrow, and the inventory of commercial housing has continued to decrease. From the perspective of market transactions, under the influence of various policies to stabilize the real estate market, real estate sales have remained generally stable. From January to May, the sales area and sales volume of newly-built commercial housing decreased by 2.9% and 3.8% YoY, respectively, which was basically flat compared to January-April. Market transactions in some first-tier and second-tier cities have been relatively active, with the sales area and sales volume of commercial housing maintaining growth. From the perspective of market prices, the YoY decline in the selling prices of newly-built commercial residential buildings has continued to narrow. In May, the YoY decline in the selling prices of commercial residential buildings in most of the 70 large and medium-sized cities continued to narrow. Among them, the YoY decline in the selling prices of newly-built commercial residential buildings in first-tier, second-tier, and third-tier cities narrowed by 0.4, 0.4, and 0.5 percentage points, respectively, compared to the previous month. The YoY decline in the selling prices of second-hand residential buildings narrowed by 0.5, 0.4, and 0.5 percentage points, respectively. From the perspective of commercial housing inventory, the area of commercial housing pending sale in May decreased by 7.15 million m² compared to month-end April, marking a decline for three consecutive months. Fu Linghui emphasized that, overall, the policies to promote the stabilization and recovery of the real estate market have continued to show effects, and the real estate market operated generally smoothly in May. However, it should be noted that the real estate market is still in the process of adjustment, market confidence needs to be continuously restored, and the supply-demand relationship in the market still needs to be improved. Continuous efforts are still required to promote the stabilization and recovery of the real estate market. National Bureau of Statistics (NBS): The Fourth National Agricultural Census is currently in the preparation stage Fu Linghui stated that the State Council recently issued a notice, deciding to conduct the Fourth National Agricultural Census in 2026. This is a major national survey of national conditions and national strength conducted on the new journey of comprehensively advancing the great rejuvenation of the Chinese nation with Chinese-style modernization. In accordance with the provisions of the Statistics Law of the People's Republic of China and the Regulations on National Agricultural Census, the agricultural census is conducted once every ten years, with the year ending in 6 designated as the census year. In 2026, China will conduct its fourth National Agricultural Census. The main objective is to comprehensively understand the current state of "agriculture, rural areas, and farmers" in the new era, objectively reflect new developments in agricultural development, new appearances in rural construction, new changes in rural life, and new achievements in rural reforms. This census is of great significance for formulating scientific policies on "agriculture, rural areas, and farmers," promoting comprehensive rural revitalization, accelerating the modernization of agriculture and rural areas, and building a strong agricultural country. Currently, the preparations for the fourth National Agricultural Census are underway, primarily focusing on establishing census organizations, developing census plans, and conducting pilot censuses. National Bureau of Statistics (NBS): Vigorously Increase the Supply of High-Quality Products and Actively Promote the Improvement and Expansion of Service Consumption Fu Linghui stated at a press conference held by the State Council Information Office that, overall, the economy has maintained stable operation. The effects of the trade-in policy for consumer goods have continued to emerge, and the vitality of the consumer market has gradually strengthened. Looking ahead, new forms and models of consumption, such as live-streaming e-commerce and instant retail, are becoming increasingly mature. The silver-hair economy, first-launch economy, and low-altitude economy are developing rapidly, and new growth points in the consumption economy are constantly emerging. However, it should also be noted that residents' consumption capacity and confidence still need to be improved, and the endogenous momentum of consumption needs to be enhanced. In the next stage, it is necessary to further implement the "Special Action Plan for Boosting Consumption," focus on enhancing residents' consumption capacity and willingness, further improve the consumption environment, vigorously increase the supply of high-quality products, actively promote the improvement and expansion of service consumption, and facilitate the stable development of the consumer market. National Bureau of Statistics (NBS): Continuously Promote Urban Renewal and Renovation of Dilapidated Houses, and Increase the Construction and Supply of "Good Houses" Fu Linghui stated at a press conference held by the State Council Information Office that, in the next stage, it is necessary to conscientiously implement the decisions and deployments of the CPC Central Committee and the State Council, actively adapt to the reality of significant changes in the supply-demand relationship in the real estate market, continuously promote urban renewal and renovation of dilapidated houses, increase the construction and supply of "good houses," facilitate the release of rigid and improvement-oriented housing demand, actively construct a new model for real estate development, and promote the steady and healthy development of the real estate market. National Bureau of Statistics (NBS): Despite Many External Uncertainties and Instabilities, China's Comprehensive Advantages in Foreign Trade Development Remain Evident Fu Linghui stated at a press conference held by the State Council Information Office that in May, China's foreign trade continued to withstand pressure and maintained steady growth. In May, China's total import and export volume of goods increased by 2.7%, and exports increased by 6.3%, maintaining steady and relatively rapid growth. According to data from market institutions, the new export orders index of the global manufacturing PMI in May was below the 50 mark and remained in contraction territory for two consecutive months. The negative impacts of trade protectionism and uncertainties on global trade growth have gradually emerged. Against this backdrop, China's trade in goods has maintained growth, demonstrating the strong international competitiveness and resilience of its foreign trade. Amid a complex and challenging international environment, with the rise of unilateralism and protectionism severely impacting the international economic and trade order, China's foreign trade has maintained steady growth. This is attributable to China's unwavering commitment to expanding opening-up, actively promoting the diversified development of foreign trade, as well as the high-end, intelligent, and green development of its industries, the upgrading of product structures, and the enhancement of market competitiveness. It is also due to China's active support for the development of foreign trade enterprises, creating favorable conditions for foreign trade development through measures such as improving trade facilitation. In the next stage, there will be many external uncertain and unstable factors, which will bring certain pressure to China's foreign trade growth. However, China's comprehensive advantages in foreign trade development remain evident, and the continuous expansion of high-level opening-up based on mutual benefit and win-win results will continue to support the steady development of foreign trade.

On June 13, at the 2025 SMM (13th) Minor Metal Industry Conference - Rare and Scattered Metals Forum (Indium, Germanium, Gallium, Bismuth, Selenium, Tellurium), hosted by Shandong Humon Smelting Co., Ltd. and SMM Information & Technology Co., Ltd., Long Wensheng, General Manager of Changsha Aochang Nonferrous Metals Co., Ltd., elaborated on "The Current Application Status and Future Prospects of Minor Metal Selenium.

The General Administration of Customs announced on the 9th that in the first five months of this year, China's total import and export value of goods trade reached 17.94 trillion yuan, up 2.5% YoY, continuing the growth trend. In May, import and export volume reached 3.81 trillion yuan, up 2.7%. In the same month, China's exports amounted to 2.28 trillion yuan, up 6.3%. Among them, exports to ASEAN, the EU, Africa, and the five Central Asian countries increased by 16.9%, 13.7%, 35.3%, and 8.8%, respectively.

According to customs statistics, in the first five months of 2025, the total value of China's import and export of goods trade was 17.94 trillion yuan, up 2.5% YoY (the same hereinafter). Of this total, exports amounted to 10.67 trillion yuan, up 7.2%, while imports reached 7.27 trillion yuan, down 3.8%. In May, the total value of China's import and export of goods trade was 3.81 trillion yuan, up 2.7%. Of this total, exports amounted to 2.28 trillion yuan, up 6.3%, while imports reached 1.53 trillion yuan, down 2.1%. The main characteristics of China's import and export in the first five months are as follows: 1. Growth in import and export of Ordinary Trade and processing trade In the first five months, China's import and export of Ordinary Trade reached 11.51 trillion yuan, up 0.8%, accounting for 64.2% of China's total foreign trade value. Of this total, exports amounted to 7.04 trillion yuan, up 7%, while imports reached 4.47 trillion yuan, down 7.8%. During the same period, the import and export of processing trade reached 3.21 trillion yuan, up 6.2%, accounting for 17.9%. Of this total, exports amounted to 1.99 trillion yuan, up 4.5%, while imports reached 1.22 trillion yuan, up 9.3%. In addition, China's import and export through bonded logistics amounted to 2.54 trillion yuan, up 5.9%. Of this total, exports amounted to 1.05 trillion yuan, up 15.8%, while imports reached 1.49 trillion yuan, down 0.2%. 2. Growth in import and export with ASEAN and the EU In the first five months, ASEAN was China's largest trading partner, with the total trade value between China and ASEAN reaching 3.02 trillion yuan, up 9.1%, accounting for 16.8% of China's total foreign trade value. Of this total, exports to ASEAN amounted to 1.9 trillion yuan, up 13.5%, while imports from ASEAN reached 1.12 trillion yuan, up 2.3%. The EU was China's second-largest trading partner, with the total trade value between China and the EU reaching 2.3 trillion yuan, up 2.9%, accounting for 12.8%. Of this total, exports to the EU amounted to 1.57 trillion yuan, up 7.7%, while imports from the EU reached 728.33 billion yuan, down 6.1%. The US was China's third-largest trading partner, with the total trade value between China and the US reaching 1.72 trillion yuan, down 8.1%, accounting for 9.6%. Of this total, exports to the US amounted to 1.27 trillion yuan, down 8.7%, while imports from the US reached 447.51 billion yuan, down 6.3%. During the same period, China's total import and export with countries participating in the Belt and Road Initiative reached 9.24 trillion yuan, up 4.2%. Of this total, exports amounted to 5.34 trillion yuan, up 10.4%, while imports reached 3.9 trillion yuan, down 3.2%. 3. Growth in import and export of private enterprises and foreign-invested enterprises In the first five months, the import and export of private enterprises reached 10.25 trillion yuan, up 7%, accounting for 57.1% of China's total foreign trade value, an increase of 2.4 percentage points compared with the same period last year. Of this total, exports amounted to RMB 6.97 trillion, up 8%, accounting for 65.4% of China's total export value. Imports reached RMB 3.28 trillion, up 4.9%, accounting for 45.1% of China's total import value. During the same period, the import and export volume of foreign-invested enterprises was RMB 5.21 trillion, up 2.3%, accounting for 29% of China's total foreign trade value. Of this, exports were RMB 2.88 trillion, up 6%, and imports were RMB 2.33 trillion, down 1.9%. The import and export volume of state-owned enterprises was RMB 2.44 trillion, down 12.7%, accounting for 13.6% of China's total foreign trade value. Of this, exports were RMB 799.4 billion, up 4.3%, and imports were RMB 1.64 trillion, down 19.1%. IV. Mechanical and electrical products accounted for 60% of exports, with growth in exports of automatic data processing equipment and its parts, integrated circuits, and automobiles. In the first five months, China exported RMB 6.4 trillion worth of mechanical and electrical products, up 9.3%, accounting for 60% of China's total export value. Of this, automatic data processing equipment and its parts were worth RMB 575.23 billion, up 3.9%; integrated circuits were worth RMB 526.4 billion, up 18.9%; and automobiles were worth RMB 351.37 billion, up 6.6%. During the same period, exports of labor-intensive products were RMB 1.66 trillion, down 1.5%, accounting for 15.6%. Of this, textiles were worth RMB 420.14 billion, up 3.7%. Exports of agricultural products were RMB 296.09 billion, up 4.7%. V. Import prices of major bulk commodities such as iron ore, crude oil, and coal fell, while the import value of mechanical and electrical products increased. In the first five months, China imported 486 million mt of iron ore, down 5.2%, with an average import price (the same hereinafter) of RMB 707.2 per mt, down 16.4%; 230 million mt of crude oil, up 0.3%, at RMB 3,864.3 per mt, down 10.6%; 189 million mt of coal, down 7.9%, at RMB 559 per mt, down 22.5%; 49.053 million mt of natural gas, down 9.5%, at RMB 3,274 per mt, down 6.8%; 37.108 million mt of soybeans, down 0.7%, at RMB 3,233.9 per mt, down 13.9%; and 15.98 million mt of refined oil products, down 26.8%, at RMB 4,323.2 per mt, down 0.1%. In addition, China imported 11.698 million mt of primary-shaped plastics, down 2.3%, at RMB 10,600 per mt, down 0.8%; and 2.169 million mt of unwrought copper and copper semis, down 6.7%, at RMB 69,400 per mt, up 6.6%. During the same period, imports of mechanical and electrical products were RMB 2.83 trillion, up 6%. SMM has compiled the import and export situation of some products in the metal industry based on data released by the General Administration of Customs, as follows: Exports: Rare earth exports in May 2025 5,864.6 mt, down 5.7% YoY from May 2024. From January to May 2025, cumulative exports reached 248,270 mt, up 2.3% YoY compared to January-May 2024. In May 2025, steel exports totaled 10.578 million mt, up 9.8% YoY compared to May 2024. From January to May 2025, cumulative exports reached 484,690 mt, up 8.9% YoY compared to January-May 2024 . In May 2025, exports of unwrought aluminum and aluminum semis totaled 5.47 million mt, down 3.2% YoY compared to May 2024. From January to May 2025, cumulative exports reached 2.43 million mt, down 5.1% YoY compared to January-May 2024. Imports: In May 2025, imports of iron ore and concentrates totaled 98.131 million mt, down 3.8% YoY compared to May 2024. From January to May 2025, cumulative imports reached 486.409 million mt, down 5.2% YoY compared to January-May 2024. In May 2025, imports of copper ore and concentrates totaled 2.395 million mt, up 5.8% YoY compared to May 2024. From January to May 2025, cumulative imports reached 12.406 million mt, up 7.4% YoY compared to January-May 2024 . In May 2025, imports of coal and lignite totaled 36.04 million mt, down 17.7% YoY compared to May 2024. From January to May 2025, cumulative imports reached 188.671 million mt, down 7.9 % YoY compared to January-May 2024. In May 2025, imports of rare earths reached 11,700.3 mt, down 14.9% YoY compared to May 2024. From January to May 2025, cumulative imports reached 48,998.0 mt, down 21.7% YoY compared to January-May 2024. In May 2025, steel imports reached 481,000 mt, down 24.5% YoY compared to May 2024. From January to May 2025, cumulative imports reached 2.553 million mt, down 16.1% YoY compared to January-May 2024. In May 2025, imports of unwrought copper and copper semis totaled 4.27 million mt, down 16.9% YoY compared to May 2024. From January to May 2025, cumulative imports reached 2.169 million mt, down 6.7% YoY compared to January-May 2024. 》Click to view the SMM Metal Industry Chain Database Related readings: General Administration of Customs: China's import and export of goods trade increased by 2.5% in the first five months, with exports up 6.3% YoY in May

According to customs statistics, in the first five months of 2025, the total value of China's import and export of goods trade was 17.94 trillion yuan, up 2.5% YoY (the same hereinafter). Of this total, exports amounted to 10.67 trillion yuan, up 7.2%, while imports reached 7.27 trillion yuan, down 3.8%. In May, the total value of China's import and export of goods trade was 3.81 trillion yuan, up 2.7%. Of this total, exports amounted to 2.28 trillion yuan, up 6.3%, while imports reached 1.53 trillion yuan, down 2.1%. The main characteristics of China's import and export in the first five months are as follows: 1. Growth in import and export of Ordinary Trade and processing trade In the first five months, China's import and export of Ordinary Trade reached 11.51 trillion yuan, up 0.8%, accounting for 64.2% of China's total foreign trade value. Of this total, exports amounted to 7.04 trillion yuan, up 7%, while imports reached 4.47 trillion yuan, down 7.8%. During the same period, the import and export of processing trade reached 3.21 trillion yuan, up 6.2%, accounting for 17.9%. Of this total, exports amounted to 1.99 trillion yuan, up 4.5%, while imports reached 1.22 trillion yuan, up 9.3%. In addition, China's import and export through bonded logistics amounted to 2.54 trillion yuan, up 5.9%. Of this total, exports amounted to 1.05 trillion yuan, up 15.8%, while imports reached 1.49 trillion yuan, down 0.2%. 2. Growth in import and export with ASEAN and the EU In the first five months, ASEAN was China's largest trading partner, with the total trade value between China and ASEAN reaching 3.02 trillion yuan, up 9.1%, accounting for 16.8% of China's total foreign trade value. Of this total, exports to ASEAN amounted to 1.9 trillion yuan, up 13.5%, while imports from ASEAN reached 1.12 trillion yuan, up 2.3%. The EU was China's second-largest trading partner, with the total trade value between China and the EU reaching 2.3 trillion yuan, up 2.9%, accounting for 12.8%. Of this total, exports to the EU amounted to 1.57 trillion yuan, up 7.7%, while imports from the EU reached 728.33 billion yuan, down 6.1%. The US was China's third-largest trading partner, with the total trade value between China and the US reaching 1.72 trillion yuan, down 8.1%, accounting for 9.6%. Of this total, exports to the US amounted to 1.27 trillion yuan, down 8.7%, while imports from the US reached 447.51 billion yuan, down 6.3%. During the same period, China's total import and export with countries participating in the Belt and Road Initiative reached 9.24 trillion yuan, up 4.2%. Of this total, exports amounted to 5.34 trillion yuan, up 10.4%, while imports reached 3.9 trillion yuan, down 3.2%. 3. Growth in import and export of private enterprises and foreign-invested enterprises In the first five months, the import and export of private enterprises reached 10.25 trillion yuan, up 7%, accounting for 57.1% of China's total foreign trade value, an increase of 2.4 percentage points compared with the same period last year. Of this total, exports amounted to RMB 6.97 trillion, up 8%, accounting for 65.4% of China's total export value. Imports reached RMB 3.28 trillion, up 4.9%, accounting for 45.1% of China's total import value. During the same period, the import and export volume of foreign-invested enterprises was RMB 5.21 trillion, up 2.3%, accounting for 29% of China's total foreign trade value. Of this total, exports amounted to RMB 2.88 trillion, up 6%, and imports reached RMB 2.33 trillion, down 1.9%. The import and export volume of state-owned enterprises was RMB 2.44 trillion, down 12.7%, accounting for 13.6% of China's total foreign trade value. Of this total, exports amounted to RMB 799.4 billion, up 4.3%, and imports reached RMB 1.64 trillion, down 19.1%. IV. Mechanical and electrical products accounted for 60% of exports, with exports of automatic data processing equipment and its parts, integrated circuits, and automobiles increasing In the first five months, China exported mechanical and electrical products worth RMB 6.4 trillion, up 9.3%, accounting for 60% of China's total export value. Of this total, automatic data processing equipment and its parts accounted for RMB 575.23 billion, up 3.9%; integrated circuits accounted for RMB 526.4 billion, up 18.9%; and automobiles accounted for RMB 351.37 billion, up 6.6%. During the same period, China exported labor-intensive products worth RMB 1.66 trillion, down 1.5%, accounting for 15.6%. Of this total, textiles accounted for RMB 420.14 billion, up 3.7%. Exports of agricultural products reached RMB 296.09 billion, up 4.7%. V. Import prices of major bulk commodities such as iron ore, crude oil, and coal fell, while the import value of mechanical and electrical products increased In the first five months, China imported 486 million mt of iron ore, down 5.2%, with an average import price (the same hereinafter) of RMB 707.2 per mt, down 16.4%; 230 million mt of crude oil, up 0.3%, at RMB 3,864.3 per mt, down 10.6%; 189 million mt of coal, down 7.9%, at RMB 559 per mt, down 22.5%; 49.053 million mt of natural gas, down 9.5%, at RMB 3,274 per mt, down 6.8%; 37.108 million mt of soybeans, down 0.7%, at RMB 3,233.9 per mt, down 13.9%; and 15.98 million mt of refined oil products, down 26.8%, at RMB 4,323.2 per mt, down 0.1%. In addition, China imported 11.698 million mt of primary-formed plastics, down 2.3%, at RMB 10,600 per mt, down 0.8%; and 2.169 million mt of unwrought copper and copper semis, down 6.7%, at RMB 69,400 per mt, up 6.6%. During the same period, China imported mechanical and electrical products worth RMB 2.83 trillion, up 6%.

According to Shanghai Customs data, in the first four months, China's foreign trade import and export volume reached 1.4 trillion yuan, up 1% YoY. Among them, exports performed well, with an export value of 629.02 billion yuan, up 13.8% YoY.

According to the latest statistics from the Shanghai Customs, in the first four months of this year, Shanghai's foreign trade import and export volume reached 1.4 trillion yuan, up 1% YoY. Among this, the export value amounted to 629.02 billion yuan, increasing by 13.8%, with the growth rate accelerating by 1.2 percentage points compared to Q1.

[Jiyao Tongxing, a battery company under Geely Group: Expected to achieve a battery capacity of 70 GWh by 2027] Zheng Xin, Vice President and Chief Strategy Officer of Geely Holding Group, as well as CEO of Jiyao Tongxing, stated that Jiyao Tongxing will achieve a battery capacity of 70 GWh by 2027, with eight production sites in Tonglu, Quzhou, Jianhu, Ganzhou, Shangrao, Yingtan, Ningguo, and Zaozhuang. In terms of business model, Jiyao Tongxing will strive to explore vehicle-battery separation and battery swapping models, and establish a battery bank. Note from Xiaocai: Zhejiang Jiyao Tongxing Energy Technology Co., Ltd. ("Jiyao Tongxing" for short) is the main entity for Geely Holding Group's battery business. (Cailian Press) [Zhang Jinhua of China SAE: Strengthen OTA Upgrade Management and Clarify Corporate Safety Responsibilities] Zhang Jinhua, President of the China Society of Automotive Engineers (China SAE), pointed out in an article that with the accelerated integration of electrification, intelligence, and connectivity in the automotive industry, significant changes have occurred in the form of automotive products, and automotive software online upgrades (OTA upgrades) have been gradually widely applied in intelligent connected vehicle products. On the one hand, OTA upgrades can rapidly iterate product functions, optimize product performance, enhance user experience, and reshape product development models, becoming an important means for automotive producers to provide value-added services to consumers and enhance product competitiveness. On the other hand, unlike ordinary electronic consumer goods, automotive OTA upgrades, if lacking necessary supervision, may pose safety risks to vehicle operation and even endanger public safety. Zhang Jinhua stated that strengthening the management of automotive OTA upgrades and clarifying corporate safety responsibilities will provide important support for safeguarding the legitimate rights and interests of consumers and social public safety. (Cailian Press) [Li Auto: The refreshed car models will return to a monthly sales level of 50,000 units, and sedan products will be launched based on market demand] The management of Li Auto stated during the Q1 earnings call that after the launch of the refreshed Li Auto car models, weekly sales have exceeded 10,000 units. As of May, the market share in the market segment above 200,000 yuan is 14.7%. Li Auto is confident that the refreshed car models will soon return to a monthly sales level of 50,000 units. After Li Auto's extended-range and pure electric SUVs, as well as the Li Auto MEGA, support an annual revenue of 300 billion yuan, MPV and sedan products will be launched based on market demand to meet the needs of the domestic market as well as important overseas markets. (Cailian Press) [CATL Signs Strategic Cooperation Framework Agreement with Lanzhou for Zero-Carbon City] On May 29, CATL and the Lanzhou Municipal People's Government officially signed a strategic cooperation agreement. The two sides will deepen cooperation in three major areas: the construction of the aftermarket for new energy batteries, the electrification upgrade of comprehensive transportation, and the establishment of a zero-carbon city ecosystem. The two parties will also establish a zero-carbon urban ecosystem, integrating PV, ESS, and intelligent management technologies to create zero-carbon parks and build industries such as virtual power plants. They will construct city-level integrated demonstration stations for "PV, ESS, charging/swapping, and inspection". They will explore policies for the recycling of end-of-life batteries, jointly establish a battery recycling system and collaborative processing bases, and form a closed-loop value chain covering the entire life cycle. (Science and Technology Innovation Board Daily) [Zhonglun New Materials: BOPA film for solid-state batteries is in the early market promotion stage] Zhonglun New Materials stated on an interactive platform that the company's lithium battery film products, as the core substrate for pouch lithium battery aluminum-plastic films, have taken the lead in achieving localisation substitution and stable mass production. They have successfully entered the supply chain systems of domestic mainstream aluminum-plastic film producers such as Zijiang New Materials, PTL, and Crown. Recently, the company's R&D on BOPA film for solid-state batteries has achieved key breakthroughs. This product can be applied in the solid-state battery field through aluminum-plastic films and is currently in the early market promotion stage. (Finance News) [Lopal: Plans to increase capital investment by RMB370 million in its holding subsidiary Changzhou Liyuan] Lopal (603906.SH) announced that the company plans to use 80% of the funds raised from issuing H shares to increase capital investment in its holding subsidiary Changzhou Liyuan, with the amount equivalent to RMB369.7056 million. Of this, RMB55.5129 million will be credited to the registered capital, and the remaining RMB314.1927 million will be credited to the capital reserve. After the capital increase is completed, Changzhou Liyuan's registered capital will increase to RMB834.1276 million, and it will remain a holding subsidiary of the company. Changzhou Liyuan plans to use the increased capital to invest an additional $14 million in its holding grand subsidiary LBM NEW ENERGY (AP) PTE. LTD. This capital increase constitutes a related-party transaction and still needs to be submitted to the shareholders' meeting for approval. (Finance News) Related readings: [SMM Analysis] REPT Battero and Hyosung Heavy Industries reach a 2.5GWh ESS strategic cooperation [SMM Weekly Review] The lithium carbonate market remains weak, with supply-demand imbalance and weakening costs leading to continued price declines [SMM Analysis] Domestic lithium carbonate imports in April 2025 released April battery material import and export data released: Both spodumene and lithium carbonate imports increased, with the latter's exports surging! [SMM Special Report] Cobalt product quotes collectively decline, with refined cobalt falling by RMB6,200 and cobalt smelters' willingness to sell increasing [Weekly Observation] Spot price of refined cobalt falls [SMM Weekly Review of Refined Cobalt Market] [SMM Weekly Review] Lithium carbonate prices continue to decline, with the short-term market still under pressure [SMM Analysis] Can titanium-doped iron phosphate be the perfect upgrade for the high-end development path? [SMM Analysis] China's lithium hydroxide exports reached 4,222 mt in April, basically flat MoM [SMM Analysis] China's imports of cobalt intermediate products increased slightly in April [SMM Analysis] Both China's unwrought cobalt exports and imports surged in April 2025 [SMM Analysis] China's total spodumene imports amounted to 623,000 mt in April, up 16.5% MoM [SMM Analysis] Both China's artificial graphite imports and exports increased MoM in April [SMM Data] LiPF6 import and export data for April 2025 [SMM Analysis] Analysis of ternary cathode precursor exports in April [SMM Analysis] Ternary cathode import and export volumes for April released, with imports up 37% MoM and exports up 13% MoM [SMM Announcement] Adjustments to weekly lithium carbonate data points before and after the Labour Day holiday Driven by multiple positive factors! The auto parts sector surged with over 12 stocks hitting daily limits! [Hot Stocks] Refined cobalt prices slightly recovered, while Co3O4 prices continued to decline. The market awaits the aftermath of the DRC's June ban. [Weekly Observations] [SMM Industry Insights] Global cobalt industry chain changes and Chinese market outlook following the DRC's cobalt export ban - Key points from the special speech by Wang Cong, General Manager of SMM Industry Research Tariff suspension spurs lithium carbonate futures to rise over 3%. Can the expectation of a rush in exports help lithium carbonate "stand up"? [SMM Flash News] Retail sales growth of passenger vehicles in April hit a new decade-high, with auto production and sales exceeding 10 million units in the first four months! [SMM Special Report]