Core Insights - The article highlights the strategic shift in the lithium battery industry towards deeper equity binding among leading companies, moving from traditional procurement to more stable supply chain collaborations [4][7][12] Group 1: Industry Developments - CATL has invested 2.635 billion yuan to acquire a 12.95% stake in Tianhua New Energy, becoming its second-largest shareholder, which will enhance CATL's lithium supply stability [5] - The announcement of the termination of the H-share issuance plan by Shengxin Lithium Energy, which will now pursue a private placement to raise up to 3.2 billion yuan, indicates a shift in financing strategies [6] - The collaboration among CATL, Tianhua New Energy, and other stakeholders aims to establish a "resource-material-battery" synergy to mitigate raw material price fluctuations [7] Group 2: Market Trends - The lithium battery shipment volume in China reached 490 GWh in Q3 2025, marking a 47% year-on-year increase, with energy storage batteries growing by 65% [8] - The domestic production and sales of new energy vehicles exceeded 11.2 million units in the same period, reflecting a growth rate of over 34% [8] - The demand for lithium resources is driven by the dual growth of the power and energy storage markets, leading to increased pressure on production capacity [10] Group 3: Strategic Importance of Lithium Resources - The strategic value of lithium resource allocation by leading companies is underscored by the volatility in lithium prices and the need for stable supply chains [11][12] - The collaboration model of "battery companies extending upwards and resource companies binding downwards" is transforming the lithium battery industry from loose cooperation to vertical integration [12] - The importance of lithium resources as a strategic mineral will continue to rise, with companies possessing global resource layouts and core technology likely to gain competitive advantages [13]