Zhi Tong Cai Jing·2025-09-05 08:40Group 1 - Strong downstream demand and continuous over-expected lithium battery production data, with an estimated growth of over 15% quarter-on-quarter in lithium battery production by Q3 2025 [1] - The membrane industry has reached a consensus to avoid selling below cost and to refrain from blind expansion, leading to a reduction in expansion plans among some companies [2] - The top two companies in the membrane industry have reached full production capacity, indicating a tight supply-demand balance among leading enterprises [2] Group 2 - The demand for energy storage has exceeded expectations, with global energy storage cell shipments reaching 240 GWh in the first half of the year, a year-on-year increase of 106% [3] - The shift from policy-driven to profit-driven markets in domestic energy storage is leading to a shortage of high-quality storage products [3] - The market for wet-process membranes is expected to increase, driven by higher safety and performance requirements for energy storage and fast-charging applications [4] Group 3 - The membrane industry is likely to see a price turning point due to tight capacity among leading enterprises and limited supply release [2] - Leading companies are actively developing next-generation coated membranes, enhancing product competitiveness and potentially increasing industry concentration [4] - The strong order backlog for leading energy storage manufacturers is expected to sustain robust production in the near term [3]