CATL(SZ:300750) Zhong Guo Neng Yuan Wang·2025-06-12 08:01Core Insights - The battery industry is experiencing significant advancements, particularly with the development of lithium metal batteries that promise high energy density and long cycle life, potentially accelerating the transition to solid-state batteries from laboratory to large-scale applications [1][3]. Industry Overview - In May, the production and sales ratio of batteries in China approached 1, with a year-on-year increase of approximately 58% in the installation of power batteries [2]. - The total production and sales of power and other batteries in mainland China reached 123.5 GWh and 123.6 GWh respectively in May, marking a year-on-year growth of 47.9% and 58.1% [2]. - The installation volume of power batteries in May was 57.1 GWh, with a year-on-year increase of 43.1% and a month-on-month increase of 5.5% [2]. Company Developments - CATL's market share in the installation of power batteries in mainland China increased by 3.4 percentage points to 42.9% [2]. - EVE Energy plans to issue H-shares to enhance its global strategy, aiming to improve capital strength and international brand image [2]. - EVE Energy's first consumer battery factory in Malaysia is set to commence production in Q1 2025, with a second energy storage factory progressing as planned [2]. Technological Advancements - The China Automotive Engineering Society released standards for solid-state batteries, establishing a clear definition and technical boundaries for the industry [3]. - Research from CATL indicates that lithium metal batteries can achieve energy densities exceeding 500 Wh/kg, with cycle life improvements to 483 cycles due to optimized electrolyte formulations [3]. Export Trends - In May, China's exports of power and other batteries reached 19 GWh, with a year-on-year increase of 23.0% but a month-on-month decline of 14.6% [4]. - The export volume of power batteries increased by 30% year-on-year, while energy storage battery exports saw a decline due to tariff disruptions [5]. - A partial tariff agreement between China and the US in May 2025 is expected to boost exports of energy storage batteries in June [5].