Core Insights - The article discusses the upcoming 2025 (10th) Lithium Battery Industry Annual Conference and the Lithium Battery Golden Tripod Award Ceremony, highlighting the significance of advancements in battery technology and energy storage solutions [2][4]. Industry Developments - In early 2025, BMW announced the upcoming deployment of large cylindrical batteries in 2026, prompting a surge in the industry towards 46-series large cylindrical batteries [2]. - The Ministry of Industry and Information Technology released new safety standards for electric vehicle batteries, sparking widespread discussions on battery performance [2]. - Several companies have begun mass production of full-tab cylindrical batteries, which are expected to find applications in electric vehicles, power tools, electric bicycles, and smart home devices [2]. - Solid-state batteries are gaining attention for their high safety and energy density, maintaining high interest levels in 2025 [2]. Energy Storage Trends - The cancellation of mandatory energy storage policies by the government has raised concerns about future demand for energy storage batteries [2]. - The 314Ah battery is gradually replacing the 280Ah as the mainstream cell, with companies like CATL and EVE Energy releasing cells with capacities exceeding 500Ah, indicating a trend towards larger capacity storage cells [2]. - The U.S. tariff policy in 2025 has impacted the global energy storage industry [2]. Emerging Applications - The debut of humanoid robots at the Spring Festival has sparked interest in battery applications for humanoid robots, leading to increased competition among battery manufacturers [2]. - Various local policies promoting low-altitude economies are accelerating the development of the eVTOL (electric vertical takeoff and landing) industry [2]. Event Details - The event will take place from December 17-19, 2025, in Shenzhen, featuring over 2000 attendees and 30000 online viewers [4][5]. - The conference will include nine specialized forums and over 60 keynote speakers discussing core issues, technological breakthroughs, safety challenges, and value chain restructuring [5][6]. Awards and Recognition - The Lithium Battery Golden Tripod Award aims to recognize outstanding contributions to the lithium battery industry and promote sustainable development across the entire supply chain [11]. - The award evaluation will take place from September 1 to November 25, 2025, with the final winners announced between December 1 and December 10, 2025 [12][13].

Market Overview - The battery sector experienced a decline of 1.98% on the previous trading day, with Jia Yuan Technology leading the drop [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - Notable gainers in the battery sector included: - Fangyuan Co., Ltd. (688148) with a closing price of 10.79, up 20.02% [1] - Baosheng Lithium Battery (688353) at 93.00, up 20.00% [1] - ST Hezhong (300477) at 2.71, up 16.31% [1] - Major decliners included: - Jia Yuan Technology (688388) at 37.60, down 8.40% [2] - Xinwanda (300207) at 33.97, down 7.01% [2] - Xiamen Tungsten New Energy (688778) at 78.01, down 6.91% [2] Capital Flow - The battery sector saw a net outflow of 4.716 billion yuan from institutional investors, while retail investors contributed a net inflow of 3.094 billion yuan [2][3] - Specific stock capital flows included: - Tianqi Materials (002709) with a net inflow of 319 million yuan from institutional investors [3] - Tianji Co., Ltd. (002759) with a net inflow of 262 million yuan from institutional investors [3] - Nord Co., Ltd. (600110) with a net inflow of 103 million yuan from institutional investors [3]

Core Insights - The Chinese energy storage industry is expected to experience a surge in orders in the first half of 2025, with cumulative orders exceeding 250 GWh, representing a significant increase compared to the same period last year [1] - The shipment volume of energy storage systems reached 167 GWh in the first half of the year, marking an 86% year-on-year growth [1] - The lithium battery industry is witnessing an improvement in supply-demand dynamics, with signs of price increases across multiple segments, indicating a potential sustained price increase cycle starting next year [1] Market Review - Since October 2025, most segments of the lithium battery sector have rebounded, with the lithium mining sector leading the gains at 7%, while the smart driving sector saw the largest decline at -7.6% [2] - Monthly transaction volumes in the lithium battery sector have generally decreased, except for a slight increase in the new energy vehicle segment [2] New Energy Vehicles - In September, sales of new energy vehicles in China, Europe, and the U.S. reached 137,000, 33,000, and 17,000 units respectively, with year-on-year growth rates of 22%, 36%, and 37% [3] - The increase in sales in China is attributed to policy support and a surge in new vehicle launches during the "Golden September and Silver October" period [3] - European markets saw significant growth due to post-holiday boosts and electric vehicle subsidy policies in countries like the UK and Spain [3] - In the U.S., sales rebounded in August as consumers rushed to purchase before subsidy cancellations, aided by dealer promotions [3] Energy Storage - In September, domestic energy storage installations in China were 4.0 GWh, showing a year-on-year increase of 69% but a month-on-month decline of 68% [4] - Cumulative installations from January to September reached 68.1 GWh, up 45% year-on-year [4] - In the U.S., energy storage installations in September were 2.3 GWh, down 21% year-on-year and 33% month-on-month, with cumulative installations for the year at 27.4 GWh, a 36% increase [4] - The overall market for energy storage remains robust, with significant sales figures reported [4] Lithium Battery Production - In October, production of lithium batteries is expected to increase by 3% to 9% month-on-month, with year-on-year growth rates between 21% and 50% [5] - Cumulative pre-production estimates for lithium carbonate, batteries, and other components show significant year-on-year increases, driven by rising demand [5] Lithium Battery Prices - Prices for lithium battery materials are rising, with lithium hexafluorophosphate seeing a monthly increase of 66% [6] - Prices for key materials such as positive and negative electrodes and electrolytes are generally increasing due to demand, while graphite prices are declining due to upstream cost reductions [6] New Technologies - The second half of 2025 marks a critical period for the engineering and industrialization of solid-state batteries and composite current collectors [7] - Significant increases in orders for pilot lines and equipment for vehicle-grade solid-state batteries are expected, with mass production anticipated to begin in late 2025 [7] Investment Recommendations - The lithium battery sector is poised for a new round of expansion driven by technological breakthroughs in solid-state batteries, leading to increased capital expenditures across the industry [8] - Key recommendations include leading companies in niche markets and those involved in solid-state technology, such as CATL, EVE Energy, and Keda Technology [8]

Core Viewpoint - EVE Energy Co., Ltd. experienced a 5.01% decline in stock price, closing at 82.99 CNY per share, with a trading volume of 5.892 billion CNY and a turnover rate of 3.67%, resulting in a total market capitalization of 169.776 billion CNY [1] Company Overview - EVE Energy, established on December 24, 2001, and listed on October 30, 2009, is located in Huizhou, Guangdong Province. The company specializes in the research, production, and sales of consumer batteries (including lithium primary batteries, small lithium-ion batteries, and ternary cylindrical batteries) and power batteries (including electric vehicle batteries and energy storage batteries) [1] - The revenue composition of EVE Energy is as follows: power batteries account for 45.26%, energy storage batteries 36.56%, consumer batteries 18.03%, and others 0.16% [1] Fund Holdings - Chang'an Fund has a significant holding in EVE Energy, with its Chang'an Industry Select Mixed A Fund (000496) holding 20,700 shares, representing 3.42% of the fund's net value, making it the seventh-largest holding. The estimated floating loss today is approximately 90,700 CNY [2] - The Chang'an Industry Select Mixed A Fund was established on May 7, 2014, with a latest scale of 21.9728 million CNY. Year-to-date returns are 34.46%, ranking 2474 out of 8219 in its category; the one-year return is 23.46%, ranking 3104 out of 8125; and since inception, the return is 73.23% [2]

Core Insights - The article highlights a significant growth in the energy storage sector, with a reported shipment of 340 GWh from the grid-side in the first nine months of 2025, representing a year-on-year increase of 94% [1]. Group 1: Industry Overview - The top 10 companies in the energy storage sector include CATL, Haicheng Energy Storage, Yiwei Lithium Energy, Fudi Battery, Zhongchuang Innovation, Ruipu Lanjun, Envision Power, Guoxuan High-Tech, Chuangneng New Energy, and Xinwanda [1]. Group 2: Event Information - The 2026 Silicon-based Anode and Solid-State Battery Summit is set to focus on breakthroughs in silicon-based anodes and the future of solid-state batteries, with various sponsors and exhibitors participating [3][4]. - The event will feature a detailed agenda, including discussions on the development of new silicon-based anode products, challenges, and solutions, as well as awards for outstanding suppliers in the solid-state battery industry [5].

Core Viewpoint - EVE Energy has signed a strategic cooperation memorandum with Spanish renewable energy company CEGASA ENERGIA S.L.U. to jointly develop energy storage projects with a total scale of 1GWh from 2026 to 2028 [1][2] Group 1 - The cooperation will cover various industrial and commercial energy storage projects, with EVE Energy providing advanced and reliable battery product solutions and technical support to enhance operational efficiency [1] - This partnership aims to leverage EVE Energy's leading technology and CEGASA's nearly 100 years of local operational experience, creating a win-win model of "technology leadership + local insight" [1] - The collaboration is positioned to explore the potential of the European energy storage market and provide competitive clean energy solutions to customers [1]

Core Viewpoint - EVE Energy Co., Ltd. has experienced a significant stock price increase of 85.99% year-to-date, with recent trading activity showing a slight decline of 2.08% on November 10, 2023 [1][2]. Financial Performance - For the period from January to September 2025, EVE Energy achieved a revenue of 45 billion yuan, representing a year-on-year growth of 32.17%. However, the net profit attributable to shareholders decreased by 11.70% to 2.816 billion yuan [2]. - Cumulative cash dividends since the company's A-share listing amount to 3.643 billion yuan, with 2.866 billion yuan distributed over the past three years [3]. Stock Market Activity - As of November 10, 2023, EVE Energy's stock price was 85.55 yuan per share, with a market capitalization of 175.013 billion yuan. The trading volume reached 3.42 billion yuan, with a turnover rate of 2.09% [1]. - The company has seen a net inflow of 37.2249 million yuan from major funds, with significant buying and selling activity recorded [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 34.21% to 187,500, while the average circulating shares per person decreased by 25.49% to 9,929 shares [2]. - The second-largest circulating shareholder, Hong Kong Central Clearing Limited, reduced its holdings by 32.3798 million shares, while new entrants and exits among the top ten circulating shareholders were noted [3].

Group 1: Market Performance - The New Energy ETF has a turnover rate of 6.88% during trading, with a transaction volume of 106 million yuan [3] - The latest scale of the New Energy ETF reached 1.534 billion yuan, marking a new high since its inception [3] - In the past three months, the New Energy ETF has seen an increase of 246 million shares, indicating significant growth [3] - Over the last five trading days, the New Energy ETF has attracted a total of 62.2153 million yuan in inflows [3] Group 2: Fund Performance - As of November 7, the New Energy ETF's net value has increased by 72.23% over the past six months, ranking 91 out of 3859 in index equity funds, placing it in the top 2.36% [3] - Since its inception, the New Energy ETF has recorded a maximum monthly return of 25.07%, with the longest streak of consecutive monthly gains being six months and the highest cumulative increase being 67.53% [3] - The average return during the months of increase is 8.57% [3] Group 3: Industry Insights - According to Everbright Securities, the demand for energy storage batteries is expected to grow rapidly by 2026, while the growth of power batteries remains stable [3] - The "anti-involution" policy is anticipated to be the most important investment theme in the photovoltaic industry in 2026, with the silicon material segment expected to achieve capacity clearing and profit recovery first [3] - Companies with differentiated photovoltaic technologies and leading advantages are likely to gain excess profits during industry cycle fluctuations [3] Group 4: Stock Performance - As of October 31, 2025, the top ten weighted stocks in the China Securities New Energy Index include: Sunshine Power, CATL, Longi Green Energy, Eve Energy, TBEA, Huayou Cobalt, Ganfeng Lithium, China Nuclear Power, Tongwei Co., and Lead Intelligent, collectively accounting for 46.1% of the index [6]

Group 1 - The green energy ETF (562010) continues its upward trend, with a nearly 2% increase during trading, marking a four-day consecutive rise and reaching the highest point since February 2023 [1] - Key stocks driving the ETF's performance include Tianhua New Energy, which rose over 7%, and other companies like Enjie, Jiejia Weichuang, and Tianqi Lithium, all showing significant gains [1] Group 2 - The white paper "China's Action on Carbon Peak and Carbon Neutrality" was released on November 8, emphasizing the acceleration of a new energy system and the importance of the 14th Five-Year Plan period (2026-2030) as a critical phase for achieving carbon peak goals [3] - Dongwu Securities forecasts a 40-50% growth in energy storage demand next year due to the gradual introduction of compensation electricity prices and tight supply, alongside unexpected demand from the U.S. Inflation Reduction Act [3] - The upcoming 2025 8th China International Photovoltaic and Energy Storage Industry Conference will take place in Chengdu from November 17-20, highlighting the industry's focus on green energy [3] Group 3 - The green energy ETF passively tracks a green energy index, with the top three sectors being batteries, photovoltaic equipment, and electricity, collectively accounting for over 75% of the index's weight as of the end of October [4] - The top ten weighted stocks in the index include leading companies such as CATL, Sungrow Power, and BYD, indicating a strong concentration in the green energy sector [4]

Core Viewpoint - The electrolyte market has seen a significant price increase due to tight supply of key additives like lithium hexafluorophosphate, VC, and FEC, driven by sustained growth in downstream demand [2][3] Demand - The energy storage sector is expected to drive a new lithium battery cycle, with Q1 2026 anticipated to remain strong despite seasonal trends. Historical large-scale lithium cycles have been primarily demand-driven, with the upcoming period from 2025 to 2027 expected to be driven by global energy transition [2][3] - According to CESA's database, China's new overseas orders/cooperation in energy storage reached 214.7 GWh from January to September 2025, marking a year-on-year increase of 131.75%. As these orders materialize, Q1 2026 is expected to be robust [2][3] Supply Elasticity - The supply elasticity in the electrolyte segment is the lowest, while structural demand and supply resonance exist in copper foil, separators, and high-end lithium iron phosphate. The negative electrode supply faces high energy consumption constraints [3] - New capacity for lithium hexafluorophosphate and lithium iron phosphate is slow to build due to environmental regulations and construction timelines of approximately 1 to 1.5 years for hexafluorophosphate and about 1 year for lithium iron phosphate. The demand for fourth-generation lithium iron phosphate products is strong [3] - The graphite anode segment has high energy consumption characteristics, with an expansion period of about 1 year. Other segments like copper foil also face significant environmental pressures. The wet separator market is expected to gain market share due to energy storage demand, remaining tight [3] Investment Recommendations - The company is optimistic about the lithium battery upcycle driven by energy storage demand and suggests focusing on companies such as CATL, EVE Energy, Tiankang Materials, Dafa, Putailai, Shanta Technology, Fulin Precision, Wanrun New Energy, Sungrow Power, Haibo Sichuang, Huasheng Lithium Battery, Shida Shenghua, and Enjie [3]