CATL(SZ:300750) Zhong Guo Jin Rong Xin Xi Wang·2025-09-15 06:37Core Viewpoint - Contemporary Amperex Technology Co., Limited (CATL) has significantly raised its production guidance for 2026, indicating strong growth in battery demand driven by overseas markets and energy storage needs [1][2]. Group 1: Production Guidance - CATL has revised its 2026 production guidance to 1100 GWh, representing a 46% year-on-year increase [1]. - The expected production for 2026 is projected to be between 900-1000 GWh, with invoicing anticipated to be around 800-900 GWh [1]. - For the upcoming year, the production guidance is expected to be around 1000 GWh, with invoicing typically 10% lower than production [1]. Group 2: Battery Types and Demand - The production expectations for both lithium iron phosphate (LFP) and ternary batteries are high, with LFP demand particularly benefiting from overseas energy storage needs [2]. - Demand for ternary materials is also strong, with expectations for 2026 to double compared to 2025, driven by robust sales of high-end vehicle models [2]. - The increase in demand is likely to enhance the capacity utilization rates of suppliers, prompting some to consider expansion [2]. Group 3: Supply Chain Insights - A supplier has confirmed that CATL's product demand currently exceeds supply, indicating a need for potential expansion based on actual market conditions [3]. - The overall trend shows that not only CATL but many battery companies are experiencing an increase in orders [2].