Qian Zhan Wang·2025-11-10 10:57Core Insights - The Chinese lithium battery industry has established a complete ecological chain, with leading companies each having unique characteristics and focusing on different segments of the industry [1][4]. Industry Overview - The lithium battery industry in China has formed a comprehensive layout covering all core links of the industrial chain, with leading enterprises deeply engaged in various segments [1]. - Key players include CATL, BYD, and others, with a strong focus on manufacturing, materials, and equipment [1][4]. Company Performance Comparison - In the first half of 2025, most lithium battery companies reported gross margins between 15% and 35%, indicating moderate profitability [4]. - CATL led the industry with a revenue of 178.9 billion yuan, followed by BYD at 371.28 billion yuan, with 80% of BYD's revenue coming from automotive sales [4][5]. - The highest gross margin was reported by Leading Intelligent at 33.8%, followed by Putailai at 32.1% [4][5]. Regional Layout - The regional layout of lithium battery companies shows a concentration in domestic clusters, particularly in the Yangtze River Delta and Pearl River Delta, while also expanding overseas [6][8]. - Companies are focusing on resource-rich areas like Indonesia for raw material supply and are also targeting markets in Europe and Southeast Asia [6][8]. Future Business Plans - Companies are focusing on three core directions: technological breakthroughs, capacity optimization, and industrial chain collaboration [15]. - Key areas of research include solid-state batteries and high-nickel materials, with many companies planning to accelerate production and development [15][16].