Lithium carbonate futures on the Guangzhou Futures Exchange (GFEX), RMB-denominated — the onshore China price for the battery-grade material central to EV supply chains.
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SQM Beats Expectations and Raises Lithium Demand Outlook
Sociedad Química y Minera de Chile reported second-quarter revenue of $2.47 billion, up 136.7% year over year, with net income of $660 million, or $2.31 per share, and adjusted EBITDA of $1.32 billion that beat consensus. Lithium and derivatives revenue rose nearly 300% to $1.78 billion on record sales volume of 84,100 metric tons of lithium carbonate equivalent, up 59%, while the realized price in the Novandino business was about $21.80 per kilogram, up 23% sequentially. Management raised its 2026 global lithium-demand forecast to more than 2.1 million metric tons from roughly 1.9 million, citing battery-energy-storage demand that offset slower-than-expected growth in the battery-electric-vehicle market. The company expects third-quarter lithium prices to remain broadly in line with the first-half average and sales volumes to stay near second-quarter levels, with production costs below 2025 levels. SQM plans approximately $3 billion of capital spending from 2026 through 2028, and Salar Futuro could require about $3 billion over seven years after approvals, while the company accrued more than $1.6 billion in payments to the Chilean state during the first half.
Lithium Argentina and Ganfeng sign definitive agreements to finalise PPG joint venture
Lithium Argentina has signed definitive agreements with Ganfeng to establish a joint venture consolidating the Pozuelos-Pastos Grandes lithium projects in Salta Province. Ganfeng will invest $180 million in Lithium Argentina through a six-year unsecured convertible note carrying a 4% coupon and convertible at $12.50 per share, while holding a 67% interest in the venture against Lithium Argentina's 33%. The project targets annual lithium carbonate equivalent production of 150,000 tonnes across three phases, with historical investments in the consolidated assets amounting to $1.8 billion. Proceeds from the investment, combined with existing cash, are earmarked to repay in full Lithium Argentina's $259 million convertible debt due January 2027, extending the company's maturity profile on an unsecured basis. Completion of the joint venture is expected in September 2026, subject to customary approvals from the Toronto Stock Exchange and New York Stock Exchange.
Salt Lake Industry first-half net profit 6.169 billion yuan, up 137.88% year on year
Salt Lake Industry disclosed its 2026 interim report. In the first half, it achieved operating revenue of 13.052 billion yuan, up 79.88% year on year on an adjusted basis. Net profit attributable to shareholders of the listed company was 6.169 billion yuan, up 137.88% year on year on an adjusted basis. Basic earnings per share were 1.1657 yuan. The company produced 1.6817 million tonnes of potassium chloride and sold 2.2474 million tonnes. Against a backdrop of tight global potash supply and a higher price centre, profitability in the potash segment expanded significantly. Lithium carbonate production was 49,400 tonnes and sales were 39,100 tonnes. Facing wide swings in the lithium carbonate market in the first half, with prices rising first and then falling, the company relied on its cost advantage in extracting lithium from salt lakes, and its earnings resilience continued to lead the industry.
Fulin Precision and Chuanfa Lomon Terminate Lithium Iron Phosphate Project Cooperation
Fulin Precision and Chuanfa Lomon announced the termination of their subsidiaries' investment cooperation on a project with an annual output of 175,000 tonnes of lithium iron phosphate. Fulin Precision stated that the joint venture company under the original agreement had not yet been established, and the cooperation could not meet the practical needs for rapid project advancement in terms of implementation path, resource allocation, and decision-making efficiency. Chuanfa Lomon said the termination was due to changes in the market environment and uncertainties in project operations. Staff from the securities departments of both companies said the decision was reached through mutual agreement. Fulin Precision also disclosed that its project with an annual output of 350,000 tonnes of new high-compaction-density lithium iron phosphate has now commenced production, with production line construction and commissioning progressing as planned, and the company does not rely on the original partner.
Chuaneng Dongli first-half 2026 profit doubles; proposes interim dividend of 480 million yuan
Chuaneng Dongli released its 2026 interim report, with operating revenue of 3.34 billion yuan, up 124.78 percent year on year, net profit attributable to the parent of 706 million yuan, up 130.73 percent, and non-recurring net profit of 696 million yuan, up 134.67 percent. Lithium battery business revenue was 1.917 billion yuan, accounting for 57.40 percent of total revenue, up 786.33 percent year on year, with a gross margin of 49.76 percent, up 46.61 percentage points year on year, making it the core growth engine. Wind and solar power revenue was 888 million yuan, up 17.91 percent, with a gross margin of 71.19 percent. Net cash flow from operating activities was 464 million yuan, down 13.68 percent year on year, and the asset-liability ratio was 49.94 percent, down 3.00 percentage points from the end of last year. The board proposed a cash dividend of 2.60 yuan per 10 shares before tax to all shareholders, totaling about 480 million yuan. The profit growth was mainly driven by the Lijiagou lithium mine mining and processing project reaching full capacity, higher lithium product volumes and prices, and newly commissioned wind power projects boosting electricity sales by 17.64 percent.
Shengxin Lithium swings to first-half net profit of 1.012 billion yuan
Shengxin Lithium disclosed its half-year report, achieving net profit attributable to shareholders of the listed company of 1.012 billion yuan in the first half of 2026, compared with a loss of 841 million yuan in the same period last year, turning from loss to profit year on year. The company's total operating revenue in the first half was 7.358 billion yuan, up 355.94 percent year on year, with basic earnings per share of 1.11 yuan. Benefiting from the continued recovery in the lithium salt market, the selling prices of lithium salt products rose sharply compared with the same period last year. At the same time, the company optimized production efficiency and promoted cost control and efficiency improvement, and production capacity at its Indonesian lithium salt plant was substantially released, achieving increases in both volume and price for lithium salt products, with operating performance significantly improved compared with the same period last year.
Shengxin Lithium Energy Plans Lithium Sulfate Projects in Zimbabwe and Nigeria
Shengxin Lithium Energy announced that the company plans to invest in building lithium sulfate projects with an annual capacity of 75,000 tonnes each in Zimbabwe and Nigeria. The Zimbabwe project has a total investment of approximately 244 million US dollars, while the Nigeria project has a total investment of approximately 233 million US dollars.
Guocheng Mining Subsidiary Signs Long-Term Distribution Contract for Lithium Carbonate
Sichuan Guocheng Lithium Industry Company Limited, a controlling subsidiary of Guocheng Mining, signed a Product Distribution Contract with Jike Supply Chain Management Chengdu Company Limited. From August 2026 to July 2036, it will supply battery-grade lithium carbonate to Jike, with monthly delivery volumes calculated as 25% of the lithium carbonate equivalent in the previous month's lithium concentrate output of the supplier. Jike is an affiliate of Hangzhou Jicheng Enterprise Management Partnership, a 5% shareholder of Guocheng Mining, making this transaction a related-party transaction. Pricing will be based on the average settlement price of the dominant battery-grade lithium carbonate futures contract on the Guangzhou Futures Exchange in the month before delivery, adjusted by a discount specified in the framework contract. From August 2026 to January 2027, payment will be made before delivery. The company said the agreement will bring sustained and stable operating revenue and gross profit contribution over the contract period, with market-based, fair and transparent pricing, and no transfer of benefits.
Huati Technology's first-half loss widens to 28.22 million yuan
Huati Technology released its 2026 interim report, showing operating revenue of 283 million yuan, up 46.4 percent year on year, but net profit attributable to the parent company widened to a loss of 28.22 million yuan, compared with a loss of 25.11 million yuan in the same period last year. Net profit attributable to the parent after deducting non-recurring items was a loss of 22.08 million yuan, narrowing from 27.48 million yuan a year earlier. Net operating cash flow was negative 48.38 million yuan, an improvement of 46.1 percent year on year. The company said sales growth in charging piles and energy storage products drove the revenue increase, but changes in the market environment and intensifying industry competition led to a decline in gross margin, while the lithium ore processing business posted losses due to market fluctuations.
Xinzhoubang's first-half net profit up 103.33% year on year; proposes 3 yuan dividend per 10 shares
Xinzhoubang disclosed its 2026 half-year report. In the first half, it achieved operating revenue of 7.463 billion yuan, up 75.66% year on year. Net profit attributable to shareholders of the listed company was 984 million yuan, up 103.33% year on year. Basic earnings per share were 1.31 yuan. The company plans to distribute a cash dividend of 3 yuan per 10 shares, tax included. The company said that, benefiting from industry development opportunities brought by the rapid growth of high-tech industries and the continued rapid recovery of the new energy lithium battery industry, the three main business segments achieved deep synergy between technology and market. Production and sales of major products rose quickly, operating results of key projects improved steadily, and overall performance grew significantly year on year.
Albemarle swings to profit, raises 2026 sales outlook
Albemarle Corporation swung to a profit in the second quarter of 2026 and issued full-year guidance calling for US$5.7 billion to US$6.0 billion in net sales. The company reported sales of US$1,743.31 million and net income of US$479.96 million, with basic earnings per share of US$3.72 compared with a loss per share of US$0.16 a year earlier. Albemarle also guided for 225 to 235 kilotons of lithium carbonate equivalent volumes in 2026, citing operational friction including the Talison CGP3 fire delay partly offset by higher Wodgina output. The results support a near-term earnings recovery catalyst, though prolonged low lithium pricing and oversupply remain the most immediate risk.
Tianhua New Energy swings to first-half net profit of 2.292 billion yuan
Tianhua New Energy disclosed its 2026 interim report. In the first half, it achieved total operating revenue of 7.78 billion yuan, up 125 percent year on year. Net profit attributable to shareholders of the listed company was 2.292 billion yuan, compared with a loss of 90.8597 million yuan in the same period last year, marking a turnaround to profitability. Basic earnings per share were 2.76 yuan. The company said that, benefiting from the rapid development of downstream industries such as new energy vehicles and new energy storage, the lithium battery market has expanded, demand for core lithium battery materials such as lithium carbonate and cathode materials has risen, and shipment volumes have climbed rapidly. The new energy lithium battery materials business saw both volume and price increase, and operating performance grew significantly.
POSCO Enters LFP Cathode Market With Major Long-Term Supply Deal
POSCO Holdings Inc., through its subsidiary POSCO Future M, has reached a large-scale, long-term supply agreement with a major South Korean battery manufacturer to supply more than 190,000 metric tons of LFP cathode materials over six years from 2027 through 2032, with a formal contract expected in the third quarter of 2026. The agreement marks POSCO's first major LFP cathode-material order and diversifies its battery-materials portfolio beyond high-nickel cathode materials, targeting rising demand for LFP-based energy storage systems in North America driven by AI data centers and utilities. To support the new business, POSCO has converted part of its Pohang facility's existing high-nickel cathode production lines to LFP production, with mass production and supply targeted to begin by the end of 2026, and plans to improve cost competitiveness by using iron oxide from its steelmaking operations and lithium from salt lakes in Argentina. The company is also pursuing additional cathode and anode material supply agreements, and in March secured a long-term contract worth approximately KRW 1 trillion with a global automaker for synthetic graphite anode materials, while investing about KRW 357 billion in a new plant in Vietnam. Separately, CNP New Material Technology, a joint venture between POSCO and FINO-CNGR, began construction of an LFP cathode-material plant in Pohang in May, with mass production expected in 2027 and capacity planned to expand in phases to as much as 50,000 tons annually.
Youngy Co. First-Half Net Profit Soars More Than Tenfold
Youngy Co. released its 2026 interim report, with first-half net profit attributable to the parent company of 1.002 billion yuan, up 1,076.14 percent year on year. The company achieved operating revenue of 1.524 billion yuan, up 402.35 percent year on year, and non-GAAP net profit of 1.004 billion yuan, up 1,269.63 percent. Second-quarter non-GAAP net profit surged about 149 percent from the first quarter, mainly benefiting from a rebound in lithium salt prices. The company's total output of lithium concentrate reached 146,100 tonnes, up 108.80 percent year on year, of which second-quarter output was 86,700 tonnes, up 45.99 percent quarter on quarter. Its lithium mining and processing subsidiary Rongda Lithium achieved net profit of 1.031 billion yuan, up 1,103.78 percent year on year.
Hualian Holdings' Argentine lithium salt lake investment suddenly faces Canadian security review
Hualian Holdings announced on the evening of August 16 that its investment in the Arizaro lithium salt lake project in Argentina may affect Canada's national security, and further review may be initiated. The announcement showed that on August 14, the company received a notice from FIRES, Canada's foreign investment review and economic security authority, under Section 25.2(1) of the Investment Canada Act. FIRES believes the investment may affect Canada's national security and may initiate further review within 45 days. Hualian Holdings previously acquired 100% of Argentum Lithium S.A. for about 175 million US dollars, obtaining an 80% interest in the Arizaro lithium salt lake project, but had not previously disclosed the risk that this transaction could be reviewed by FIRES. The company said it is temporarily unable to assess the possible impact of the notice, and the transaction faces the risk of delayed closing or inability to complete. As of the close on August 14, Hualian Holdings' share price was 4.17 yuan per share, with a total market value of 5.854 billion yuan.
Sigma Lithium Reports Record Q2 Revenue and Margins
Sigma Lithium reported record second-quarter 2026 results, with net sales revenue of $54.7 million, up 223.9% year over year, and an adjusted EBITDA margin of 47.0%, the highest in company history. Lithium oxide concentrate production reached 35,400 tonnes, a 52% increase from the first quarter, driven by the ramp-up of mining operations. The company realized a net lithium price of $2,089 per ton for SC5, a 17% sequential increase, while plant gate cost fell 36% to $401 per ton and CIF cost decreased 33% to $452 per ton. Sigma Lithium also reduced total debt by 25% over the last year and held $16.7 million in cash as of June 30, 2026, with management projecting an additional $60 million in cash inflows during the third quarter. The company maintained its Plant 1 twelve-month forward guidance of 240,000 tonnes, with the ramp-up timeline pushed forward by three months due to a temporary suspension, and raised its fiscal 2027 production guidance to 330,000 tonnes for Plant 1, exceeding nominal capacity due to improvements in the reprocessing circuit.
Sinomine Resource Group Resumes Production at High-Purity Lithium Salt Lines
Sinomine Resource Group announced that its subsidiary Jiangxi Sinomine Lithium has completed all maintenance work, with self-produced lithium concentrate gradually arriving at the plant, meeting the conditions for production resumption. The company decided to restart the annual 30,000-ton high-purity lithium salt production line on August 10, 2026, and plans to gradually resume the annual 35,000-ton high-purity lithium salt production line in mid-August 2026. Previously, due to a temporary mismatch between the transportation cycle of self-produced lithium concentrate and production scheduling, the two production lines were temporarily shut down for maintenance starting June 30, 2026, during which comprehensive equipment upkeep was carried out.
Tibet Mining Turns Profitable in First Half of 2026, Plans 1 Yuan Cash Dividend per 10 Shares
Tibet Mining disclosed its 2026 semi-annual report, with operating revenue reaching 541 million yuan, up 304.58 percent year-on-year. Net profit attributable to the parent company was 60.0663 million yuan, compared with a loss of 15.305 million yuan in the same period last year. Basic earnings per share stood at 0.115 yuan. The company also announced a dividend plan, proposing a cash dividend of 1.0 yuan per 10 shares, tax included. During the reporting period, higher selling prices for lithium salt products, coupled with the ramp-up of production capacity at the Zhabuye Phase II project, drove the turnaround to profitability.
Albemarle Q2 2026 EBITDA more than doubles to $858 million
Albemarle Corp reported second-quarter 2026 net sales up 31% year-over-year and adjusted EBITDA more than doubling to $858 million, with enterprise EBITDA margin expanding to 49%. The company generated $710 million in cash from operations and $638 million in free cash flow, achieving over 80% operating cash conversion. Global lithium demand grew 45% year-over-year through May, driven by strong stationary storage and improving EV growth, with inventories at near-record lows. Albemarle raised its full-year outlook for specialties and is on track to hit the high end of its cost productivity target of $100-150 million. However, a June 9 fire at the Greenbushes CGP3 plant delayed the ramp-up to full production until Q1 2027, leading the company to expect energy storage sales volumes for 2026 to be flat to down 4% year-over-year.
US bans exports of tungsten scrap and battery recycling materials for one year
The United States is set to ban exports of tungsten scrap and black mass, a recycled material from lithium-ion batteries, for one year starting late this August, according to Bloomberg. The move comes less than a week after President Donald Trump signed an order authorizing restrictions on exports of industrial waste containing critical minerals and materials under the Defense Production Act, aiming to reduce reliance on China and strengthen supply chain security. Operators must primarily sell these raw materials domestically but can apply for case-by-case exemptions. The US Commerce Department stated that shortages of recyclable critical minerals and materials increase national security risks, necessitating urgent measures to preserve domestic raw material sources.
Ganfeng Lithium Applies for Designated Delivery Factory Warehouse Qualification for Lithium Hydroxide at Guangzhou Futures Exchange
Ganfeng Lithium has applied to the Guangzhou Futures Exchange for designated delivery factory warehouse qualification for lithium hydroxide. The company announced that this move will help integrate the spot market, futures market, and delivery factory warehouse, further enhancing risk resistance and market competitiveness while improving profitability. In the first quarter of 2026, Ganfeng Lithium achieved revenue of 9.196 billion yuan and net profit attributable to the parent company of 1.837 billion yuan.
ERAMET Reports Mixed Production as Lithium Output Rises Sharply
ERAMET has reported second quarter and half year 2026 production figures that show weaker volumes in several key commodities alongside a sharp rise in lithium carbonate output. The company's share price stands at €43.12, with a year-to-date decline of 30.00% and a 1-year total shareholder return down 9.11%. ERAMET is flagged as trading at good value with a price-to-sales ratio of 0.4x, compared to the European Metals and Mining industry average of 1.1x and a peer group average of 1.4x. A discounted cash flow model estimates the stock is trading 68.9% below an estimated future cash flow value of €138.54. The company faces risks from current losses of €520 million and exposure to cyclical demand in regions such as China and Other Asia.
Brokers highlight MOSHI as top profit growth in retail sector, backed by strong SSSG
Several brokers view MOSHI as the standout in the retail sector. Maybank Securities forecasts second-quarter 2026 profit at 154 million baht, up 15% year-on-year, with same-store sales growth of 3.5%, the highest in the group. KGI Securities and DBS Vickers Securities emphasize recovering consumer confidence and ongoing branch expansion plans. In the hotel sector, ERW is expected to post a 25% year-on-year profit increase in the second quarter of 2026, supported by short-haul tourists and HOP INN. CENTEL is projected to earn 120 million baht, up 15% year-on-year, and is benefiting from positive sentiment around year-end domestic events. For large-cap stocks, PTT is seen as having its core business returning to a recovery cycle. Krungsri Securities expects normalized profit in 2026 to grow 66%, with the stock trading at a low price-to-book value of just 0.95 times. TRUE is forecast to achieve a new record high for second-quarter 2026 profit, reaching 6.8 billion baht, a 232% year-on-year surge, driven by higher margins and reduced competition. In logistics, SJWD is expected to report normalized second-quarter 2026 profit of 337 million baht, up 18% year-on-year, the highest in five quarters. UOB Kay Hian has upgraded BJC to a buy recommendation, citing an improving utilization outlook for its glass bottle production. Additionally, AIRA Securities notes that GANFENG23, which references Ganfeng Lithium Group, one of the world's largest lithium producers, has a forward price-to-earnings ratio for 2026 of just 7.8 times, well below its five-year historical average of 14.4 times, with earnings expected to recover as lithium carbonate prices rise to 160,000 yuan per ton.
Elevra Lithium posts record monthly output, secures strategic financing package
Elevra Lithium delivered a strong June 2026 quarter, setting a monthly production record at its North American Lithium operation and securing a strategic financing package to fully fund its NAL expansion. Spodumene concentrate production rose 15% quarter-on-quarter to 54,479 dry metric tonnes, including a new monthly record of 22,202 dry metric tonnes in May, while lithium recoveries improved by 5 percentage points to 71%. Revenue fell 61% to US$31 million due to a 39% drop in tonnes sold and a 37% decline in the average realised selling price to US$921 per dry metric tonne, as the company completed deliveries under a legacy offtake contract with lagged pricing. Elevra announced a financing package comprising a US$196 million institutional placement and US$102 million in convertible notes from Canada Growth Fund, with the upfront tranche of US$46 million approved by shareholders in July. The company also agreed to sell its interest in the Ewoyaa Project in Ghana to Zhejiang Huayou Cobalt for approximately US$71 million in cash, and ended the quarter with a cash balance of US$255 million.
Industry Ministry to propose batteries and power banks as controlled goods, enforcement expected by mid-2027
The Ministry of Industry is preparing to submit a draft ministerial regulation to the Cabinet to designate nickel-system batteries, lithium-system batteries, and power banks as controlled goods. Products manufactured, imported, or sold in Thailand must receive Thai Industrial Standards certification before entering the market. The three standards are expected to take effect by mid-2027. The measures reference the international standard IEC 62133 and tighten safety requirements, such as testing for over-discharge protection and high-temperature endurance. A transition period will be provided for operators to adapt, with existing license holders allowed to apply for an extension of no more than one year after the standards come into force.
Corun replies to Shanghai Stock Exchange inquiry: energy storage revenue involves no related-party transactions or premature recognition
Corun has replied to the Shanghai Stock Exchange's inquiry letter regarding its 2025 annual report, denying any related-party transactions or premature revenue recognition in its energy storage business. In 2025, the company's energy storage revenue reached 1.748 billion yuan, a year-on-year increase of 1668.95 percent, with the fourth quarter contributing nearly half of the full-year revenue, a gross margin of 9.37 percent, and a significant rise in accounts receivable and contract assets. The company explained that the project cycle of energy storage led to concentrated delivery in the fourth quarter, and customer funds mainly came from financing or self-raised capital, with a small portion from energy storage industry funds in which the company has invested. However, these customers are not related parties, and the company does not control the industry funds, making the gross method of revenue recognition compliant. Additionally, regarding the lithium mine assets acquired at a high premium, the company stated that although the price of lithium carbonate once fell to 60,000 yuan per ton in 2025, it rebounded to 120,000 yuan per ton by year-end and reached 175,000 yuan per ton by the end of April 2026, indicating no signs of impairment for the related assets. The company also acknowledged that interest-bearing debt increased to 3.755 billion yuan, with an asset-liability ratio of 72.82 percent, and the controlling shareholder's share pledge ratio has long been above 80 percent, posing short-term liquidity pressure.
Lithium Battery Material Prices Surge, Industry Chain Companies Invest Another 30 Billion Yuan to Expand Production
Domestic lithium battery material prices continue to climb. The average price of the electrolyte additive vinylene carbonate has reached 200,000 yuan per ton, with highs of 230,000 yuan, nearly 4.9 times higher than a year ago. Lithium carbonate prices have also doubled to 145,400 yuan per ton, while anode materials and lithium iron phosphate have seen successive price hikes. Facing supply shortages, companies such as Ronbay Technology, Tinci Materials, and Capchem have rolled out expansion plans this year, with total investment in all new and expansion projects amounting to approximately 30 billion yuan. The industry worries that collective capacity expansion may sow risks of overcapacity and a shakeout in the medium to long term, while the sector's overall gross profit margin has already fallen from 27.34 percent in 2021 to 12.56 percent in 2025.
Xinya Electronic says lithium hexafluorophosphate business contributed about 9% of first-half revenue, with limited impact
Xinya Electronic issued a volatility notice stating that its external sales of lithium hexafluorophosphate achieved operating revenue of approximately 83.45 million yuan in the first half of 2026, accounting for about 9% of the company's total operating revenue for the period, making a limited contribution. In 2025, the company produced 1,119.60 tonnes of lithium hexafluorophosphate, sold 363.48 tonnes externally, and the external sales generated operating revenue of 27.87 million yuan, representing 1.44% of the company's 2025 annual revenue. The company is primarily engaged in electronic information product sales services, chemical materials and adhesive manufacturing, and lithium-ion battery material manufacturing, and does not involve the research, development, or production of vinylene carbonate. This business may face uncertainties from industry policies and market conditions in the future, and there may be risks such as industry cycles and market competition, with an uncertain impact on the company's future performance.
Energy Metals Concept Falls 3.14% Intraday, Institutions Say Sector Boom Trend Continues
On July 24, the energy metals concept fell 3.14% intraday. Among related constituent stocks, Shengxin Lithium Energy dropped 4.64%, Boqian New Materials fell 4.45%, Tianhua New Energy declined 4.39%, Shengtun Mining slid 4.17%, and Tengyuan Cobalt Industry lost 3.98%. According to Cailian Press, around 11 a.m. on July 23, the most-traded lithium carbonate futures contract surged over 4% intraday to 147,140 yuan per tonne. Wind data shows that 66 A-share nonferrous metals listed companies have disclosed their semi-annual earnings forecasts, with a positive rate exceeding 90%. Among them, Zijin Mining expects a first-half net profit attributable to the parent of 39.1 billion yuan. A research report from Changjiang Securities points out that the energy metals sector boom trend will continue in 2026, with a revaluation of strategic value. On the lithium front, demand prosperity persists, supply disruptions are increasing and capital expenditure is limited, so the supply shortage trend is likely to continue, and lithium prices may embark on a new upward cycle.
Lithium price rebound sends lithium mining stocks surging; Yongshan Lithium hits daily limit up with over 330,000 lots locked
A recovery in lithium prices has driven a broad rally in A-share lithium mining stocks. Yongshan Lithium shot up to its daily limit, with over 333,000 lots locked in at 13.72 yuan per share. Industry leader Ganfeng Lithium, with a market cap in the hundreds of billions, rose 4.64%, Tianqi Lithium gained over 3%, Shengxin Lithium Energy jumped over 6%, Yongxing Materials and Rongjie shares added over 4%, and ST Welding hit its daily limit. Ganfeng Lithium expects a first-half net profit attributable to shareholders of 3.65 billion to 4.6 billion yuan, a staggering year-on-year surge of 787% to 966%, compared with a net loss of 531 million yuan a year earlier. The most-active lithium carbonate futures contract extended its intraday gain to 3.58%, breaking through the 146,000 yuan mark to trade at 146,500 yuan per tonne. Separately, the environmental impact assessment for the Yajiang Snowway lithium mine project, acquired by CATL through restructuring, has been accepted, marking a key milestone toward production for the mine, which carried a restructuring consideration of over 6.4 billion yuan. Once completed, the mine will have an annual production capacity of 1.5 million tonnes.
Renewable Energy 15th Five-Year Plan Released; Wanrun New Energy’s Lithium Iron Phosphate Shipments Surge
The National Development and Reform Commission and the National Energy Administration have officially issued the Renewable Energy Development 15th Five-Year Plan, clarifying that total investment in the renewable energy sector during the 15th Five-Year Plan period will exceed 5 trillion yuan. Offshore wind power newly started construction will be around 100 gigawatts, the large-scale wind and solar bases in the Three Norths region will add over 370 gigawatts of installed capacity, and conventional hydropower installed capacity will reach 410 gigawatts by 2030. As a global core leader in lithium iron phosphate, Wanrun New Energy is deeply tied to the energy storage sector’s dividends. In 2025, its full-year lithium iron phosphate shipments reached 375,100 tonnes, up 64.33 percent year on year. In the first quarter of 2026, revenue hit 5.38 billion yuan, a year-on-year surge of 136.16 percent, with net profit attributable to the parent company of 401 million yuan, successfully turning a profit. The company’s three major bases in Hubei, Shandong, and Anhui are coordinating production, and it is converting a 120,000-tonne existing production line in Shandong into a dedicated high-compaction lithium iron phosphate line, while simultaneously building 70,000 tonnes of new high-end capacity to precisely match the iterative demand for high-end lithium iron phosphate battery cells. Industry insiders analyze that the implementation of large-scale wind, solar, and hydro projects makes supporting energy storage a rigid necessity. Lithium iron phosphate, with its advantages of high safety, long cycle life, and low cost, occupies the mainstream route for energy storage batteries. In 2025, lithium iron phosphate accounted for as much as 95.4 percent of global energy storage batteries, further raising the industry’s medium- to long-term demand ceiling.
ST Baili Terminates EPC Contract with Shanxi Tewashi for 100,000-Ton Lithium Manganese Iron Phosphate Cathode Material Project
ST Baili announced that the company and Shanxi Tewashi Energy Technology have mutually agreed to terminate the previously signed EPC contract for the design, procurement, and construction of an annual output of 100,000 tons of lithium manganese iron phosphate cathode material project. The contract was signed on January 9, 2024. Due to significant changes in the project's circumstances, continued performance is no longer practically feasible, and both parties signed a contract termination agreement on July 21, 2026. As the original contract stipulated that the project had not substantially commenced, had not been performed, and no investment had been made, there are no receivables or payables between the parties. The termination of this contract will not have a material adverse impact on the company's future expected earnings and financial position.
Lithium Iron Phosphate Producers Hold Closed-Door Talks on Collective Price Hikes, Battery Makers Yet to Agree
The lithium iron phosphate industry is preparing a collective price increase. At a closed-door meeting led by an industry association last week, raising prices was the main topic, and participating companies generally expressed a willingness to do so. A person in charge at Lopal Technology said the initial expected increase is between one thousand and two thousand yuan per tonne. Hunan Yuneng has already taken the lead by issuing a price adjustment notice, deciding to raise prices for all lithium iron phosphate products by two thousand yuan per tonne starting August 1. This round of price hikes is mainly driven by rising raw material costs such as ferrous sulfate and phosphoric acid, and the current pricing mechanism linked to lithium carbonate can no longer cover the actual cost increases. As of press time, downstream power battery manufacturers have not yet explicitly agreed to accept the price increases, and factors such as expectations of consumption tax levies have added difficulty to price negotiations. As the core cathode material for power batteries, every one thousand yuan per tonne increase in lithium iron phosphate raises battery unit costs by about eight hundred yuan per tonne. For a mainstream family car equipped with a sixty kilowatt-hour battery, the battery cost would increase by about six thousand to seven thousand two hundred yuan. Against the backdrop of vehicle manufacturing profit margins of only one point five percent, upstream price hikes will pose severe challenges to vehicle profit margins.
Zhenyu Technology forecasts first-half 2026 net profit to rise 98.72%–117.65% year-on-year
Zhenyu Technology announced that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to be between 420 million and 460 million yuan, representing a year-on-year increase of 98.72% to 117.65%. The profit growth is mainly driven by sustained growth in downstream demand for lithium batteries, especially energy storage batteries, which has boosted main business sales revenue. At the same time, new production capacity for motor cores has come online, raising overall capacity utilization and delivering significant economies of scale.
CALB battery fault controversy escalates, adding uncertainty to the path for second-tier manufacturers
CALB and GAC Aion have each issued statements regarding battery faults in AION S vehicles equipped with 177 Ah lithium iron phosphate batteries. GAC Aion apologized and upgraded its warranty services, including extending the battery warranty period, strengthening proactive big data monitoring, and providing free repairs and replacements, with subsidies for commercial vehicles that exceed repair time limits. CALB pledged to offer direct maintenance services for affected vehicles, with owners able to visit its service outlets for free inspection, repair, and replacement, and to take responsibility for product quality throughout the entire lifecycle. Earlier reports from Xinhua News Agency noted that since 2026, new energy commercial vehicles using this cell model have experienced concentrated issues such as cell swelling, leakage, and insulation faults, with third-party test reports confirming that the faults point to internal manufacturing defects in the cells, and related complaints on platforms like 12365auto.com and the Black Cat complaint platform continuing to rise. Industry insiders analyzed that the differing statements from the two companies stem from ambiguous areas of responsibility allocation, as power battery faults may involve multiple factors including cell quality and vehicle system integration. Mo Ke, founder of Real Lithium Research, said that second- and third-tier battery makers have relatively weaker quality control capabilities, and if standards were raised to the level of leading companies, their costs could even be higher, while the compression of validation cycles by vehicle manufacturers also deserves attention. Many industry figures believe that such incidents could affect the survival prospects of second-tier battery manufacturers, with automakers possibly favoring leading companies in procurement, and the market share of top-tier firms potentially rebounding in the short term. On the regulatory front, the 'Safety Requirements for Power Batteries for Electric Vehicles,' dubbed the strictest battery safety standard in history, officially took effect on July 1, and the Ministry of Industry and Information Technology held a symposium for key automobile manufacturers on July 17, deploying measures to strengthen supply chain management and quality safety levels.
Easpring Technology Expects First-Half 2026 Net Profit to Rise 54.26%–70.33% Year-on-Year
Easpring Technology announced that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to be between 480 million yuan and 530 million yuan, representing a year-on-year increase of 54.26% to 70.33%. The profit growth is mainly due to the company seizing opportunities in the power, energy storage, and consumer markets, with product sales volume rising significantly year-on-year. Among these, high-nickel and other multi-element products are steadily ramping up in the high-end electric vehicle market, while lithium iron phosphate and lithium manganese iron phosphate products are rapidly scaling up in energy storage and AIDC projects, leading to continuously improving profitability. The company's net profit for the first quarter was 277 million yuan, implying an estimated second-quarter net profit of 203 million yuan to 253 million yuan, a quarter-on-quarter decline of 8% to 26%.
As of July 19, 900 companies listed on the Shenzhen Stock Exchange have disclosed their earnings previews for the first half of 2026. The combined net profit forecast surged 147 percent year-on-year, with 57 percent of the companies expecting to be in the black. The nonferrous metals sector ranked first in projected net profit, with 38 companies that have issued previews reporting a total of approximately 64.5 billion yuan, up 161 percent from a year earlier, driven mainly by rising prices of aluminum, lithium, germanium, and tungsten. The electronics sector benefited from booming demand for AI computing infrastructure, with 85 companies posting a combined net profit of 58.5 billion yuan, a 176 percent increase. In addition, the lithium battery and pharmaceutical and biotech industries also staged a strong recovery. EVE Energy forecast a net profit of 3.13 billion to 3.37 billion yuan, up 95 to 110 percent year-on-year, while 53 innovative drug companies reported a combined net profit of about 7.27 billion yuan, a 60 percent rise.
Hunan Yuneng plans to invest 24 billion yuan in an integrated mining and chemical new energy battery materials circular industry project
Hunan Yuneng announced plans to invest in the construction of the Guizhou Yuneng integrated mining and chemical new energy battery materials circular industry project in Weng'an County, Guizhou Province, with a total investment of approximately 24 billion yuan. The project construction period is expected to be five years, with a planned investment of 5 billion to 8 billion yuan within 18 months of formal commencement, and the subsequent pace will be adjusted based on market demand. The construction content mainly includes 800,000 tonnes of lithium iron phosphate, 1 million tonnes of iron phosphate, and their upstream industry chains, covering phosphorus sources, iron sources, lithium carbonate processing, and lithium battery recycling. The company stated that this investment aims to improve its integrated industrial layout and consolidate its leading position in the industry, while also noting risks in project construction, financial funding, market demand, and management.
Azimut Drills High-Grade Lithium Pegmatites at Wabamisk East
Azimut Exploration reported high-grade lithium results from its maiden drilling program at the Wabamisk East Property in Quebec. The five-hole, 650-metre campaign confirmed significant lithium potential, with all holes intersecting spodumene pegmatites. Highlight intercepts include 1.87% Li2O over 36.30 metres in hole WL25-01 and 2.20% Li2O over 23.05 metres in hole WL25-02, including a higher-grade sub-interval of 3.40% Li2O over 4.45 metres. The drilling tested the Lithos North and Lithos South zones, part of a multi-kilometre-scale pegmatite field where 138 spodumene-bearing outcrops have been identified. The 2026 exploration program will shift focus to gold targets on the property, while additional lithium drilling remains warranted.
Huati Technology Expects First-Half 2026 Loss of 20 Million to 30 Million Yuan
Huati Technology disclosed its earnings forecast, expecting a net loss attributable to shareholders of 20 million to 30 million yuan for the first half of 2026, compared with a loss of 25.1088 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 16 million to 24 million yuan, compared with a loss of 27.4807 million yuan a year earlier. The company stated that due to the market environment, intensified competition has led to a decline in overall product gross margin and profitability, while personnel restructuring has resulted in significant expenses. In addition, the lithium ore processing business has been affected by fluctuations in the lithium ore market, with changes in related futures prices recognized in current profit or loss.