According to the Everbright Securities Research Report, since the second half of 2025, the price of lithium carbonate has continued to rise, driving superimposed supply-side improvements on the cost side, and the price of lithium battery materials such as lithium hexafluorophosphate, diaphragms, and electrolytes has ushered in varying degrees of increase. In the face of the low boom in lithium battery materials in the early stages, the expansion rate of leading companies has slowed down. At the same time, considering the continued increase in downstream demand, the lithium battery material supply pattern is expected to be optimized. In addition, factors such as industry policies and technological iteration will further increase the share of leading companies in lithium battery materials. Against the backdrop of a sharp rise in the price of lithium carbonate and a drastic reduction in new production capacity for lithium battery materials such as lithium hexafluorophosphate and diaphragms, we continue to be optimistic about the recovery of prosperity in the lithium battery materials sector.

According to the Everbright Securities Research Report, since the second half of 2025, the price of lithium carbonate has continued to rise, driving superimposed supply-side improvements on the cost side, and the price of lithium battery materials such as lithium hexafluorophosphate, diaphragms, and electrolytes has ushered in varying degrees of increase. In the face of the low boom in lithium battery materials in the early stages, the expansion rate of leading companies has slowed down. At the same time, considering the continued increase in downstream demand, the lithium battery material supply pattern is expected to be optimized. In addition, factors such as industry policies and technological iteration will further increase the share of leading companies in lithium battery materials. Against the backdrop of a sharp rise in the price of lithium carbonate and a drastic reduction in new production capacity for lithium battery materials such as lithium hexafluorophosphate and diaphragms, we continue to be optimistic about the recovery of prosperity in the lithium battery materials sector.