Guangda Securities: Focus on Core Lithium Battery Demand in the Next Two Years, Leading Companies Will Benefit from Healthy Industry Development.

Guangda Securities released a research report stating that the domestic large-scale storage capacity in 2026/2027 is currently the most crucial variable in the entire lithium battery demand assessment. For the economic-driven installation situation in 2026/2027, it is necessary to continuously observe three indicators: the pricing of coal power capacity in various regions; the scale of the energy storage project list in various regions; and the changes in price differentials in the spot market. This largely affects the investment value of industries with a bias towards the supply of lithium carbonate and lithium hexafluorophosphate. The domestic energy storage industry has entered a healthy development track, benefiting leading companies in this situation.