Core Viewpoint - CATL's recent product launches, including the second-generation fast-charging battery and sodium-ion battery, are expected to drive demand for negative materials such as graphite and hard carbon, benefiting the related supply chain [1][3][4]. Product Summaries Product 1: Second-Generation Fast-Charging Battery - The second-generation fast-charging battery features a peak charging rate of 12C, enabling a range of 75 km in just 30 seconds and 520 km in 5 minutes, with a peak charging power of 1.3 MW [3] - The battery utilizes super crystalline graphite anodes and surface sub-micron conductive particles to significantly enhance lithium ion insertion speed, indicating that anode materials will benefit from the ongoing deployment of fast-charging products [3] Product 2: Second-Generation Sodium-Ion Battery "Sodium New" - The "Sodium New" battery maintains over 90% energy efficiency at -40°C, with an energy density of 175 Wh/kg, the highest in the industry for mass production [4] - It is designed for low-voltage applications and can be used in heavy-duty vehicles, with a capacity of 4.5 kWh for cold starts at extreme temperatures [4] - The battery is expected to enter mass production in December 2025, with the first customer being FAW Jiefang, and it aims to achieve over 200 km in hybrid range and over 500 km in pure electric range [4] Product 3: Xiaoyao Dual-Core Battery - The Xiaoyao dual-core battery features a dual-core architecture based on aviation safety redundancy, utilizing self-generating anode technology [5] - This technology allows for a 60% increase in volumetric energy density and a 50% increase in mass energy density, adaptable to various material systems [5] - The impact of self-generating anode technology on existing anode systems, such as graphite, is expected to be limited despite its high energy density capabilities [5]