On April 30th, the A-share lithium battery industry chain repeatedly strengthened, with Yongshan Lithium rising for three consecutive days, FENGYUAN rising for two consecutive days, and Defang Nano and Xianhui Technology increasing by over 10%. Shengxin Lithium Energy, Wanrun New Energy, and Longpan Technology also followed suit.

In terms of news, data shows that in the first quarter of 2026, China's energy storage lithium battery shipments reached 215 GWh, a year-on-year increase of 139%; leading companies have orders scheduled until the end of 2026 and the second quarter of 2027, with production capacity saturated and prioritizing high-profit orders.

According to research by the Dadong Times Think Tank (TD) based on surveys of the top 20 battery manufacturers in the industry, in May 2026, the total scheduled production volume for China's lithium battery (energy storage + power + consumer) market is approximately 249 GWh, a month-on-month increase of 6.0%, and battery scheduled production has set historical peaks for three consecutive months.

Debang Securities Research states that recent overseas lithium resource exports are still in the quota management phase, and uncertainties on the supply side have not been completely eliminated. Coupled with marginal improvements in demand expectations for energy storage and new energy, this has driven simultaneous activity in lithium mines, lithium extraction from salt lakes, electrolytes, and cathode materials.

On the other hand, the recent performance of the entire lithium battery industry chain has strengthened, with price increases exceeding 50% in multiple links, also driving stock performance. According to disclosures, Tianqi Lithium achieved a net profit attributable to shareholders of approximately 1.876 billion yuan in the first quarter, a year-on-year increase of approximately 16.99 times.

At the same time, several lithium battery companies have significantly turned losses into profits in the first quarter.

Ganfeng Lithium: Disclosed the first quarter report. The company achieved operating revenue of 9.196 billion yuan in the first quarter of 2026, a year-on-year increase of 143.81%; achieved a net profit attributable to shareholders of 1.837 billion yuan, compared to a loss of 356 million yuan in the same period last year; basic earnings per share of 0.88 yuan.

Shengxin Lithium Energy: Disclosed the first quarter report. The company achieved operating revenue of 3.284 billion yuan in the first quarter of 2026, a year-on-year increase of 378.58%; achieved a net profit attributable to shareholders of 464 million yuan, compared to a loss of 155 million yuan in the same period last year; basic earnings per share of 0.51 yuan.

Longpan Technology: Disclosed the first quarter report. In the first quarter of 2026, the company achieved operating revenue of 3,496,818,576.55 yuan, a year-on-year increase of 119.61%; net profit attributable to shareholders was 214,261,681.00 yuan, turning losses into profits year-on-year; basic earnings per share of 0.31 yuan.

Morgan Stanley stated that the demand for the lithium battery industry in 2026 may be stronger than expected, as energy storage demand will exceed expectations. The key point lies in China's push for decarbonization and the renewable energy trading mechanism launched earlier this year, which has improved the economics of energy storage projects and become a key catalyst for this transition.

Guojin Securities stated that for lithium carbonate: On the supply side, mainstream lithium salt companies are producing steadily, with an expected scheduled production of 117,300 tons of lithium carbonate in April, a month-on-month increase of 4.8%. The supply side is steadily releasing, and overall inventory remains at a low level. On the demand side, orders in the energy storage sector continue to improve, supporting demand for lithium carbonate The retail performance of new energy vehicles is average, and the recovery pace of the power battery terminal is relatively slow; however, downstream material manufacturers have a low acceptance of high-priced sources, and the enthusiasm for stocking up on the procurement side is insufficient, mainly maintaining just-in-time purchasing with a strong wait-and-see sentiment. Related targets in the lithium battery industry chain: CATL, Eve Energy, Fulin Precision, Keda Technology, Xiamen Tungsten, Tianci Materials, Dofluorid, Tianji Holdings, Shida Shenghua, Haike New Source, Enjie, Xingyuan Material, Foshan Plastics, Hunan Yuneng, Wanrun New Energy, Nord, Zhongyi Technology, Dingsheng New Materials, Putailai, Honggong Technology, Naconor.