每经记者｜黄鑫磊 孔泽思 每经编辑｜文多 8月26日，高分子功能膜龙头长阳科技（688299.SH，股价20.69元，市值59.46亿元）公告称，拟缩减"年 产6.5亿平方米储能及动力电池用锂电隔膜项目"和"年产4亿平方米储能和动力汽车用锂离子电池隔膜项 目"规模。 当天，长阳科技还发布了2025年半年报，公司上半年实现营业收入5.25亿元，同比下降18.81%，归母净 利润为亏损854.73万元，同比下降150.11%。 另外，就上半年营业收入同比下滑，长阳科技在半年报中解释称，主要原因是公司缩减了隔膜、胶膜等 低毛利率产品的销售及生产。上半年，公司反射膜盈利稳定，但合肥、舟山子公司固定资产及在建工程 计提减值损失，加之财务费用同比增加，导致公司净利润同比下滑。 长阳科技表示，受市场供需情况等方面的影响，锂电隔膜依然存在竞争加剧导致毛利率不达预期的风 险，2025年公司隔膜产能释放存在较大压力，后续公司相关资产仍然存在计提减值风险。 8月27日，《每日经济新闻》记者致电长阳科技，试图了解公司缩减两大隔膜项目规模的背后原因以及 上半年业绩下滑相关情况，公司工作人员表示在公告中均有提及。 专家：通过市场自然出清 ...

Core Viewpoint - The lithium battery industry is currently facing significant challenges due to intense price competition, a consequence of previous aggressive capacity expansion, leading to a consensus on the need for "anti-involution" strategies to stabilize the market and improve profitability [1][2][3] Industry Challenges - The lithium battery supply chain is experiencing continuous price declines, approaching cost lines, resulting in widespread survival difficulties for companies [1][2] - A significant number of listed companies in the lithium battery sector reported profit declines, with 65 out of 104 companies experiencing net profit drops last year, and over 60 companies seeing year-on-year gross margin reductions [1][2] Causes of Involution - The current "involution" in the lithium battery industry is primarily driven by low-price competition, stemming from the overcapacity created by previous years' aggressive expansion [2] - Local governments' incentives for lithium battery projects have led to an oversupply situation, with many companies now facing a market where demand does not meet the inflated production capacity [2] Proposed Solutions - Industry associations have called for a shift in focus from price competition to quality and innovation, advocating for a coordinated approach to enhance the industry's health [3] - Accelerating supply-side reforms and promoting the exit of outdated capacities are seen as immediate solutions to address the supply-demand mismatch [3][4] Market Adjustments - Some companies are beginning to reassess their expansion plans, with notable cancellations of previously planned projects, indicating a more cautious approach to capacity growth [4] - The government is encouraged to play a regulatory role to prevent blind investments and manage capacity effectively from the outset [5] Shift to Value Competition - There is a growing consensus that the industry should transition from "price competition" to "value competition," emphasizing technological innovation as a key driver for future success [6][7] - Leading companies are focusing on developing advanced battery technologies to enhance product competitiveness and profitability [7][8] Technological Innovations - The industry is witnessing rapid advancements in battery materials and technologies, with companies like Ningde Times and EVE Energy launching innovative products that improve performance and safety [8][9] - The introduction of stringent safety standards is expected to further elevate industry entry barriers and accelerate the exit of underperforming capacities [9]