Core Viewpoint - Longpan Technology announced that its subsidiary, Changzhou Liyuan New Energy Technology Co., Ltd., will reduce production on some lithium iron phosphate production lines for maintenance starting January 1, 2026, to ensure long-term stable and efficient operation [2] Group 1 - Changzhou Liyuan's lithium iron phosphate production lines have been operating at overload since Q4 2025 [2] - The maintenance is expected to last for one month and will reduce lithium iron phosphate output by approximately 5,000 tons [2] - The company stated that this maintenance will not have a significant impact on its operating performance in 2026 [2]

Core Viewpoint - Longpan Technology (603906) announced that its subsidiary, Changzhou Lithium Source New Energy Technology Co., Ltd., will undergo a planned production reduction and maintenance for its lithium iron phosphate production line starting January 1, 2026, to ensure safe and stable operations [1] Group 1 - The lithium iron phosphate production line at Changzhou Lithium Source has been operating beyond capacity since Q4 2025 [1] - The maintenance is expected to last for one month and will reduce the production capacity by approximately 5,000 tons [1] - The company anticipates that this maintenance will not have a significant impact on its operating performance in 2026 [1]

Core Viewpoint - Several companies in the lithium battery sector, including Hunan Youneng, Wanrun New Energy, and Defang Nano, have announced plans for production line reductions and maintenance to ensure stable operations and product quality [1]. Group 1: Hunan Youneng - Hunan Youneng reported that its capacity utilization rate has exceeded 100% since the beginning of the year, prompting the need for maintenance to ensure normal equipment operation and product quality [2]. - The maintenance is scheduled to start on January 1, 2026, and is expected to last for one month [2]. - This maintenance is projected to reduce the production of phosphate-based cathode materials by 15,000 to 35,000 tons, but it is not expected to have a significant impact on the company's operating performance in 2026 [3]. Group 2: Wanrun New Energy - Wanrun New Energy announced that it will conduct planned production line reductions starting December 28, 2025, for a duration of one month [5]. - The purpose of this maintenance is to ensure the continuous and stable operation of its lithium iron phosphate production line [5]. - The expected reduction in lithium iron phosphate production is between 5,000 to 20,000 tons, with no significant impact anticipated on the company's production operations [5]. Group 3: Defang Nano - Defang Nano has announced its annual equipment maintenance and repair plan, scheduled to begin on January 1, 2026, for a month [7]. - This maintenance is aimed at ensuring efficient, stable, and safe operation of production equipment, thereby safeguarding product quality [7].

Core Viewpoint - Wanrun New Energy (688275.SH) announced a planned reduction in production for its lithium iron phosphate production lines to ensure safe, stable, and efficient operations starting December 28, 2025 [1] Group 1: Production Adjustment - The company will conduct maintenance on certain production lines for one month as part of its scheduled plan [1] - The maintenance is expected to reduce lithium iron phosphate output by 5,000 to 20,000 tons [1] - The company anticipates that this reduction will not have a significant impact on its overall production and operations [1]

Group 1: Report Industry Investment Rating - Not provided Group 2: Core View of the Report - The steel prices of finished products are running at a low level, and it is recommended to control the position risk as the National Day holiday approaches. The later focus includes macro - policies and downstream demand [3] Group 3: Summary According to Related Content Current Situation of the Steel Industry - Last week, the scale of steel mill maintenance in the building steel industry was still at a peak. 12 provinces' steel mills were involved in production line maintenance and resumption, with 14 maintenance production lines (1 less than last week) and 4 resumption production lines (6 less than last week). The production affected by production line maintenance was 30.99 tons last week, and it is expected to be 29.33 tons this week [2] Policy and Market Data Changes - The Jiangsu Provincial Department of Commerce adjusted the automobile trade - in policy, and the automobile replacement subsidy policy was suspended at 24:00 on September 28, 2025. The total production schedule of air conditioners, refrigerators, and washing machines in October 2025 was 29.24 million units, a 9.9% decrease compared with the actual production performance of the same period last year [2] Market Performance of Finished Products - Last week, finished products were horizontally consolidated in the early stage and fell significantly on Friday. Rebar and hot - rolled coils both reached recent lows. The fundamentals of the industry changed little last week. Rebar performed better with a slight increase in output, a large increase in apparent demand, and inventory reduction. Hot - rolled coil output and apparent demand decreased slightly, and inventory increased slightly. Finished products mainly ran at a low level due to weak demand [3]