BCC(SZ:002455) 鑫椤锂电·2026-01-09 07:49Core Viewpoint - The rapid expansion of the global electric vehicle and energy storage industries is driving a significant increase in the demand for anode materials, with China's anode material shipments expected to reach approximately 2.9 million tons by 2025 and a projected growth rate exceeding 30% in 2026, reaching around 3.7 million tons. Graphite anodes remain the mainstream choice for power batteries due to their excellent cycle stability [1][3]. Group 1 - The integrated project of Baichuan Co., Ltd. for producing 100,000 tons of anode materials (100,000 tons of graphitization) has been fully put into production, with capacity expected to surge in 2026, effectively addressing the supply tightness in high-end graphitization capacity and providing stable supply assurance for downstream enterprises [1][3][6]. - Baichuan Co., Ltd. benefits from cost advantages due to its energy cost benefits at the Ningdong base, being one of the few companies in China to achieve integrated production from needle coke to anode materials (graphitization), which helps mitigate raw material price volatility and reduce logistics and processing costs [3][6]. - In 2026, Baichuan Co., Ltd. plans to deepen strategic cooperation with downstream power battery and energy storage companies, continuously advancing technological iterations to ensure supply chain security and stability in the new energy industry [6][8]. Group 2 - The 100,000 tons of anode materials (100,000 tons of graphitization) capacity of Baichuan Co., Ltd. not only marks a new starting point for the company's development but also serves as a stabilizing force for the new energy industry's supply chain [8].