”（文 | 志读科技，作者 | 杜志强，编辑 | 杨林）2026年过一半，全球AI行业本该见证属于Coding赛道的高光时刻。
摘要：甜品最初源于乐园内的餐饮需求，现在已经发展成为独立业务线，POP BAKERY在多地开设快闪车试水，并在今年5月于秦皇岛阿那亚落地首家正式门店。
韩国近10场取得6胜2平2负，进18球失10球，预选赛不败晋级，亚洲杯表现稳定。
1、火狐官网 21万辆在路上跑的车，每一颗电池都是一个潜在的未知数。
阿莫林在葡萄牙体育执教时期就很擅长把青训球员或低知名度新星打造成球队核心，努诺·门德斯、若昂·内维斯都是这样被推上一线。火狐官网数据显示，法国场均控球率不足五成，仅为49.7%，在四强球队中排名垫底，但场均射门达到18.3次，射正率高达42.7%，射门转化率18.2%，反击质量堪称本届赛事顶级。
2、直播间里再无张雪峰
大批球迷提前数小时便抢占位置，只为近距离目睹英雄风采。
3、曾在鲁能踢亚冠主力的他！如今当打之年踢中甲，直接斩获单轮最佳
他在本届赛事打入8粒进球，赛场上依然有能力令全世界为之倾倒，再次将自己送上巅峰。
4、死亡之组！男足亚运会对手解析，出线难度急剧上升
到2025年5月，他在巴萨已打进19球贡献7次助攻，而首发只有19场。
5、俄被逼到墙角，一波发射40枚导弹，日韩收到警告，中方发出劝告
第一个，这轮利润有多少来自涨价。
过去积累的许多次小额盈利，在极短时间内被一次尾部事件吞噬。
对于特林康而言，前往沙特或许意味着远离了欧洲顶级赛场的聚光灯，但丰厚的薪资待遇和作为球队绝对核心的战术地位，同样具有极大的吸引力。
6、微软Bing搜索结果引入AI摘要功能，逐步推进智能搜索体验
听众在通勤、做家务和睡前戴着耳机，很容易产生一种错觉——有人正在单独理解我。
考虑到所需投入的资金规模，意甲球队在递交正式、具体的报价之前，很可能需要先送走一位重量级球星。
7、教师大势已定？不出意外的话，未来5年，教师行业或将出现4大变化
阿根廷正朝着自1962年巴西队以来首次卫冕世界杯的目标迈进。
以上路径成立以后，还要解释市场为什么没有提前完成定价。
8、太适合广东队！CBA暴力内线或被哄抢，这可是“加强版萨林杰”？
克罗地亚的战术风格则更加朴实无华。
在小组赛中，科特迪瓦展现了极其稳健的竞技状态，首轮1-0小胜厄瓜多尔，依靠中场拦截和边路反击拿下开门红；次轮面对德国，收缩防线顽强抵抗仅1球惜败；末轮2-0零封库拉索，顺利锁定出线名额。
整体来看，C罗的投资风格呈现出“不控股、快周转”的特点，用他自己的话说，就是不依靠单场进球，而是持续布局下一个得分点。
9、中乙联赛六月份最佳阵容：王博文、巫林峰、穆芊羽入选
”如果应用和场景变得复杂，需要融合多种能力以及对用户场景的深刻把握，那模型厂商不见得有优势。
三、球星集体跨界做VC 梅西和C罗的选择并非孤例。
10、号外！杨瀚森洛杉矶特训，8月中旬回国，征战世预赛，继续当陪练？
风波的收尾看似简单，官方紧急叫停敖尹全部开发计划，还承诺后续不再新增可攻略男主。
这也为国产厂商在前沿领域争取领先地位提供了可能。
1、身高1.6米，当选NBA扣篮王，大帽姚明，盘点NBA身高最矮的5位球员
主帅洛伦索打造了一套4-2-3-1体系，进攻端由J罗和路易斯·迪亚斯双核驱动，J罗负责中场组织调度，利用精准的传球撕开防线；迪亚斯则在边路利用速度和技术突破制造威胁。
2、从奢侈品牌到「人格标签」？Demna 想重写 GUCCI
而费兰不是。
3、1换5交易达成！总决赛MVP啊，就这么卖掉了？
更麻烦的是，据媒体报道哥伦比亚队内出现流感病毒，多名球员受到影响，加上从堪萨斯城飞到温哥华的长途奔波，体能和状态都可能受到影响。赛后流泪相拥！41岁的C罗，亲手送别“魔笛”！双方伤停情况：均无。
4、0-3惨败!10人U19国足不敌突尼斯 土伦杯2胜2负出局提前无缘冠亚军
球队在淘汰赛阶段连续上演惊险逆转，虽然展现了冠军底蕴，但也暴露出对梅西的过度依赖以及阵容老化的问题。
5、执念的尽头，无畏的起点
联合创始人、CEO于伟拥有丰富的产业经历与管理运营经验，是张立华在清华担任班主任时的“学生”。
6、4月国内马拉松奖金榜：女子选手领跑奖金榜，体制外运动员成主力
除了World Labs，其早期还投过足球游戏平台Matchday、足球收藏品平台AC Momento，此后重心逐渐转向AI与机器人赛道，出手过AI数据标注平台SuperAnnotate、三维可视化工具Intangible、物理世界基础模型公司Perceptron、机器人开发商Field AI，以及语音AI生成服务Fish Audio等。
截至目前，红黑军团在25/26财年已经录得超1亿欧元资本收益，创下01/02赛季的最高卖人收益纪录。
这不仅是一场战术的胜利，更是勇敢者对功利主义的完美惩罚。
7、73胜勇士是下狗？三大因素下，阿杜抛出争议言论
不过有消息称，如果离开巴萨，托雷斯本人似乎更倾向于与恩里克重聚。
淄博瑞光则设立于2016年6月，主营业务包括工业蒸汽、供暖、发电等，为周村区唯一工业蒸汽供应商。
8、杜兰特官宣！想要参加2028年洛杉矶奥运会，他是真的热爱篮球！
随着贡萨洛·拉莫斯转会AC米兰，加上科洛·穆阿尼也大概率会离开，恩里克要求引进一名全能型中锋。
一旦他做出决定，俱乐部预计将发布官方声明。
只发现一个可能正确的结论并不够，还要知道什么催化剂会迫使市场承认，什么时候承认，以及自己仓位能不能活到那一天。
上赛季，特别是在欧冠四分之一决赛对阵马竞的淘汰赛中，球队的进攻几乎完全依赖于亚马尔能否从帽子里变出兔子。
这届世界杯，品牌做起年轻人的情绪生意
R系列的第6代，高速与分辨率的双重突破—索尼Alpha 7R VI初体验
小兹摘掉“草地菜鸟”囧名，能否力克职业生涯苦主？
失踪人口出现！林葳分享1米72亲姐新婚照 网友：你啥时候结婚？
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- 3 今年2月份，萨索洛正式宣布从马赛买断科内，买断金额约为1300万欧元，仅仅半个赛季之后，他的市场估值已经逼近2500万欧元，目前税后年薪81.4万欧元。
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- 5 首先是位置竞争，米兰的中场位置其实并不缺人，现有阵容里就有不少实力派球员，莫德里奇是否续签合同还未确定，另外还有拉比奥、福法纳、奇克、里奇、亚沙里、穆萨等一大批中场球员囤积。
- 6 德国队7-1大胜库拉索一役，进攻点分散令对手难以防守，但比赛中也暴露了防守注意力不集中的问题。
- 7 并且店内还配备有淋浴设备等服务跑者的基础设施。
- 8 趣丸既做AI音乐，也做AI语音；既推出AI硬件，又有累计注册用户超2亿的兴趣社交平台。
- 9 米兰为帕夫洛维奇设定的价格在5000万欧元以上，考虑到1800万欧元的引进成本，球队可以从中狠赚一笔。
- 10 主席拉波尔塔和俱乐部高层并不打算提价，他们相信现有的报价策略是正确的，尤其在马竞财政状况持续吃紧的背景下，以不变应万变才是上策。
- 11 这是两套完全不同的战术，米兰球员今年夏天要改变的是整个跑位逻辑。
- 12 早在上赛季结束、阿隆索接手球队之前，加纳乔在伦敦西区的未来就已经打上了问号。
- 13 辞退阿莱格里后，米兰把工作的重心放在选帅上，此前他们的头号目标是伯恩茅斯主教练伊劳拉，但这位西班牙少帅倾向于加盟水晶宫，因此红黑军团需要重新寻找新的目标，伊布列出一份7人名单，几乎没有重量级的主帅。
- 14 费兰与恩里克私交甚笃，而巴黎方面恰好需要为贡萨洛·拉莫斯寻找一名直接替代者，因此将他列入了引援名单。
- 15 Nexfin News — China’s lithium battery industry is undergoing a rite of passage, transitioning from wild expansion to disciplined competition. In the first half of the year, a rare divergence between surging corporate earnings and falling stock prices brought a permanent shift in the sector’s underlying dynamics into sharp focus. By mid-July, A-share lithium battery stocks pulled back despite dramatic midyear earnings forecasts. Tianqi Lithium projected net profit growth of up to 4,935% year-over-year, EVE Energy forecast a 95% to 110% increase, and both Sunwoda and REPT BATTERO turned profitable again. Across the supply chain—from upstream lithium salts to downstream battery makers—most companies reported substantial operational gains. Yet robust earnings failed to stop equity valuations from sliding. On July 8, Chengxin Lithium hit its daily downside limit, Yahua Group dropped over 15%, and Tinci Materials saw more than 30 billion yuan in market value evaporate within a week. Ganfeng Lithium has fallen roughly 38% from its peak, while market leader CATL is down about 20%. The immediate trigger for the selloff was the resumption of operations at CATL’s Jianxiawo lithium mine. On June 29, the mine secured its safety production permit, which was officially posted on the Credit China website on July 7. The site—the world’s largest single lepidolite mine—had been idle for over ten months. With an annual capacity of roughly 100,000 metric tons of lithium carbonate, it previously accounted for 8% to 10% of China’s total output. Its return brings over 45,000 tons of additional supply in the second half of the year, hitting elevated lithium prices head-on. Futures markets reacted instantly: on June 18, as restart speculation grew, the main lithium carbonate contract fell 6.58% in a single session, beginning a steady slide from its May high of 205,000 yuan per ton. This stark contrast between thriving industrial output and falling stock prices coincided on the surface with lithium carbonate pulling back rapidly from its May peak of 200,000 yuan per ton to 151,000 yuan. But a more critical question remains: is this the sign of a cyclical peak, or is the industry undergoing a profound revaluation? Answering that requires stepping back to examine the paradigm shift that unfolded across the lithium battery sector between 2025 and 2026. The essence of this shift is not the fluctuation of any single price signal, but a permanent realignment of the industry's competitive playbook—moving from "who expands the fastest" to "who possesses technology, steady profits, and global compliance capabilities." From 60,000 to 200,000 In late June 2025, battery-grade lithium carbonate dropped below 60,000 yuan per ton, touching a three-year low of 59,900 yuan. Lithium salt producers across the sector incurred heavy losses, forcing widespread shutdowns among small and medium-sized manufacturers. From Australian hard-rock mines and small African projects to domestic lepidolite producers, virtually all marginal capacity went offline that summer. A two-and-a-half-year price slump accomplished its single necessary function: clearing out excess supply. By the fourth quarter of 2025, supply and demand dynamics reversed faster than the market had anticipated. The initial spark came from energy storage demand. Data from research firms including InfoLink show that global energy storage cell shipments reached roughly 610 GWh in 2025, up over 90% year-over-year, with fourth-quarter volumes alone topping 200 GWh. Production schedules showed energy storage cells clearing lithium carbonate inventories at an accelerating quarter-over-quarter pace. As growth in electric vehicle batteries moderated, energy storage stepped in not just to absorb excess capacity, but as the industry's primary growth engine. Surging demand was only half the story; supply contracted just as sharply. Small African mines and high-cost domestic lepidolite operations exited the market. Meanwhile, Zimbabwe announced a temporary suspension of lithium concentrate exports in February—a country that accounted for 15.5% of China’s lithium concentrate imports in 2025. Although Australia remained the primary pillar of China's upstream raw material supply at over 50%, the policy further tightened market expectations surrounding upstream supply. Zimbabwe's Ministry of Mines later confirmed that a formal export ban would take effect in January 2027. The tension between supply and demand peaked with the onset of a structural global deficit. Morgan Stanley estimated in early 2026 that the global market would face a shortfall of roughly 100,000 metric tons of lithium carbonate equivalent (LCE) for the year. Soochow Securities calculated total annual lithium mine supply at approximately 2.14 million tons, representing 440,000 tons of new capacity—most of which was not slated to come online until after the third quarter. That timing gap fueled the price rally during the first half of the year. Driven by these converging forces and inventory restocking across midstream channels, lithium carbonate surged from 70,000 yuan per ton in October 2025 to 200,000 yuan by May 2026. Unlike the speculative frenzy that drove prices to 600,000 yuan in 2022, this recovery occurred after capacity had been fully built out, anchored firmly by real end-user demand. Gaogong Industry Research Institute (GGII) summarized the shift: "This is not a bubble, but a return to fundamental value. The structural surge in energy storage demand, combined with supply-side consolidation, has redefined a rational price band for lithium." Prices doubled quickly due to market sentiment and downstream stockpiling. July’s price correction reflected two main factors: the gradual release of new supply and downstream resistance to inflated raw material costs. Analysts generally expect lithium carbonate to trade within a median range of 120,000 to 160,000 yuan per ton for the full year—a price level that keeps most producers profitable without triggering another round of reckless expansion. Energy Storage as the New Engine In the first half of 2026, China's energy storage battery shipments reached roughly 485 GWh, a year-over-year increase of over 80%. Over the same period, power battery shipments totaled roughly 630 GWh, up over 30%. The gap between the two segments is narrowing rapidly. Structural figures are even more telling. In the first quarter of 2026, Chinese energy storage battery shipments totaled about 209 GWh, up 115% year-over-year and accounting for roughly 40% of total lithium battery shipments. By June, energy storage cells made up nearly 41% of monthly production schedules—up from around 30% a year earlier. According to InfoLink, full-year energy storage cell shipments in 2025 reached roughly 610 GWh, approaching 70% of power battery shipments over the same timeframe. Energy storage is no longer a side business for battery makers; it has emerged as an independent market reshaping demand across the industry. Behind this market realignment lies a fundamental shift in purchasing drivers. Before 2024, domestic energy storage growth was driven primarily by mandatory integration policies, which required wind and solar projects to install storage capacity. That regulatory setup created low-quality demand, leading to poor utilization, weak financial returns, and inconsistent cell quality. Between 2025 and 2026, market dynamics pivoted from regulatory compliance to commercial economics. The shift first materialized in the domestic market. In early 2026, the National Development and Reform Commission and the National Energy Administration jointly issued new capacity pricing regulations (NDRC Pricing [2026] No. 114), establishing a national capacity tariff mechanism for standalone energy storage facilities. Local standards were set between 165 and 330 yuan per kilowatt-year, depending on the province. Surveys by Soochow Securities indicated that internal rates of return (IRR) for storage stations in several provinces crossed the 6% threshold required for commercial viability, especially where peak-to-valley price spreads exceeded 0.3 yuan per kWh. IRRs for top-tier projects reached as high as 10%, fundamentally improving overall demand quality. This domestic turning point coincided with an explosion in international demand. Major solar-plus-storage projects launched across the Middle East, particularly in Saudi Arabia and the United Arab Emirates, with individual project capacities regularly reaching several gigawatt-hours. In emerging markets across Australia, Southeast Asia, and Africa, weak power grids and rising renewable energy penetration transformed energy storage from an optional luxury into a necessity. Soochow Securities calculated that utility-scale storage installations in emerging markets grew 233% year-over-year in 2025, with an additional 69% increase projected for 2026. In Europe, energy security concerns and green energy quotas kept commercial, industrial, and residential demand robust. GGII projects that global energy storage battery shipments in 2026 will reach 800 to 1,100 GWh, representing year-over-year growth of 30% to 70%. Even at the mid-point estimate of 900 GWh, energy storage output is positioned to approach or match power battery production this year. As the industry's primary growth engine shifts, its core operational requirements are evolving as well. Power battery demand is dominated by automakers, whose priority is cost efficiency. The customer base for energy storage, however, is far more diverse: utility operators prioritize long cycle life and safety, data center owners require high discharge rates and extreme reliability, and overseas projects demand lifecycle compliance and supply-chain traceability. Winning in these markets requires technological adaptation, solid project execution, and international compliance capabilities rather than sheer scale. Oversupply or Industry Maturity? Evaluating battery utilization rates requires a closer look at the underlying numbers. In May 2026, the single-month installation rate for Chinese power batteries dropped to roughly 38%. Over the first five months of the year, cumulative power battery installations totaled 259 GWh against 863 GWh produced—yielding an overall utilization rate of about 30%. Factory output continues to outpace vehicle installations, leaving a substantial share of manufacturing lines underutilized. The five-year trajectory of Chinese power battery installation rates tells a clear story: 70% in 2021, 54% in 2022, roughly 52% in 2023, 50% in 2024, 44% in 2025, and 38% by May 2026. This steady decline in installation rates offers clear evidence of an industry transitioning from rapid early growth into maturity. Yet labeling the sector simply as oversupplied misses crucial nuances. The market is not experiencing a uniform glut; rather, it is undergoing sharp structural polarization. High-end shortages coexist alongside low-end surpluses. Demand for premium batteries with energy densities above 160 Wh/kg—primarily ternary chemistries—rebounded sharply, rising from a 6% market share in 2025 to 11%. Meanwhile, low-end products under 125 Wh/kg have effectively been phased out. Demand has also diverged sharply between commercial and passenger vehicles. Driven by subsidy policies, battery demand for electric heavy trucks and delivery vans surged, with battery consumption for electric cargo vans rising 169% year-over-year. By contrast, electric buses—once the industry's primary market—fell to fifth place. While market leadership remains dynamic, the nature of competitive moats is shifting. CATL and BYD together retain a 68% market share, but second-tier players like Gotion High-tech, EVE Energy, Svolt Energy, and Hithium are making gains. Competition is shifting from pure capacity expansion to technological differentiation and operating margins. From another perspective, declining installation rates are a natural hallmark of industry maturity. As annual growth moderates, a drop in capacity utilization from 70% to 40% is to be expected. While systemic capacity pressures continue to weigh on industry-wide profitability, and smaller players face ongoing price competition, market leaders retain the balance sheet strength to navigate the transition. As top-line growth slows, manufacturers lacking proprietary technology, accumulated capital, or global compliance infrastructure risk being squeezed out. This shift explains recent strategic course corrections by major capital allocators. Anode producer Sinomatech canceled a 10.3 billion yuan expansion, cathode supplier Dynanonic abandoned a 10 billion yuan project, and separator manufacturer Semcorp terminated a roughly 2 billion yuan facility in Malaysia. Top-tier players reining in massive investments is a classic sign of an industry transitioning from early expansion to financial discipline. This reallocation of capital does not mean expansion has halted entirely. In the first half of 2026, manufacturers announced over 65 new planned projects representing more than 1,500 GWh of capacity and over 220 billion yuan in total investment. Hunan Yuneng disclosed a 24 billion yuan expansion, while Yahua Group announced additional capacity in Zimbabwe. Expansion continues, but the prerequisites have changed: only enterprises with strong technical barriers, cash reserves, and global compliance infrastructure are positioned to invest while competitors scale back. Technology Race 2.0: Three Fronts If the period between 2022 and 2024 was defined by a race for manufacturing scale, 2025 and 2026 have marked a pivot toward technological differentiation across three distinct fronts. Front One: Structural Shortages in 314Ah Cells The central operational focus for the energy storage supply chain in 2026 has been a structural shortage of 314Ah cells rather than short-term price swings in raw lithium. By March, average spot prices for 314Ah cells from tier-one manufacturers approached 0.40 yuan per Wh, with small-lot orders reaching 0.45 yuan per Wh—a surge of over 25% within six months compared to the 0.30 to 0.34 yuan per Wh seen in August 2025. The immediate driver was rising raw lithium costs—at 180,000 yuan per ton of lithium carbonate, theoretical cell production costs sit between 0.35 and 0.38 yuan per Wh. However, the root cause was a supply gap during the industry's transition to larger formats. As manufacturers shift from 280Ah and 314Ah form factors toward 500Ah+ designs, investment in legacy 314Ah production lines has largely ceased. Because next-generation 500Ah+ cell capacity will not scale up until late 2026, production ramps and customer testing created a temporary bottleneck. During this supply gap, the deficit widened significantly, pushing delivery timelines for select orders into 2027. This dynamic reflects a clear shift in industry economics: market returns are no longer guaranteed simply by bringing capacity online, but by executing format transitions ahead of competitors. CATL has already deployed its 587Ah cell in a 2.4 GWh standalone storage project in Inner Mongolia, while EVE Energy has accelerated mass production of its 628Ah format. With the shift toward larger cell formats underway, manufacturing execution is everything. While 314Ah supply constraints present an immediate operational challenge, solid-state technology represents the long-term competitive battlefield. Front Two: A Return to Realism in Solid-State Batteries Although 2026 has been touted as the inaugural year for commercial solid-state battery deployment, that label requires qualification: current production consists almost entirely of semi-solid (hybrid liquid-solid) chemistries. Models including the NIO ET9, MG4, GAC Hyper, and Chery vehicles have entered the market equipped with semi-solid packs featuring energy densities between 350 and 400 Wh/kg. Because these designs remain compatible with over 90% of existing liquid battery production lines, retooling costs remain manageable and rollout schedules are accelerating. However, the commercial reality of all-solid-state technology remains far more complex than vehicle showroom specifications suggest. In March 2026, Ouyang Minggao, an academician at the Chinese Academy of Sciences, offered a candid assessment: "To be prudent, it is best not to commercialize all-solid-state battery vehicles over the next two years." He cited three major technical hurdles: solid-solid interface stability, where microscopic gaps between solid electrolytes and electrodes cause internal resistance to spike; lithium dendrite formation and safety risks; and the environmental volatility of sulfide electrolytes, which decompose upon exposure to moisture and demand strict manufacturing conditions. Industry leaders report steady if measured progress. CATL’s sulfide-based solid-state cell has surpassed an energy density of 500 Wh/kg, with small-scale production anticipated in 2027. BYD’s 20 GWh facility in Chongqing is scheduled to begin semi-solid production in the third quarter of 2026, targeting pilot runs for all-solid-state cells in 2027. Gotion High-tech plans to initiate operations on a 2 GWh solid-state line by late 2026, while EVE Energy has produced sample 60Ah solid-state cells. A clear timeline has taken shape: 2026 is focused on pilot line verification, 2027 on vehicle testing, and 2030 on potential large-scale commercialization. The implementation of recommended national standard GB/T 43568-2026 (Solid-State Batteries for Electric Vehicles) on July 1, 2026, established an initial regulatory framework for long-term development. Ultimately, 2026 marks less the mass adoption of solid-state technology than a recalibration of market expectations. Meanwhile, an underappreciated demand driver is quietly gathering momentum. Front Three: AIDC Storage as AI Infrastructure In the first five months of 2026, global energy storage shipments for AI data centers (AIDC) reached 10 GWh, surpassing total volume for all of 2025. Industry research firms project that global AIDC storage demand will reach 300 to 400 GWh by 2030—more than twenty times its 2025 level. Capital deployment in the segment is ramping up. CATL invested roughly 4.1 billion yuan to acquire a strategic stake in Senter Power to secure positioning in high-voltage DC power distribution for data centers, while winning a bid for a 2 GW / 4 GWh storage project at a computing center in Guizhou. Fluence signed agreements covering a 12 GW pipeline of potential projects with two major U.S. cloud providers, LG secured eight data center storage contracts totaling 6 GWh—including projects for Oracle—and Panasonic announced 350 billion yen in battery investment aimed at tripling its data center storage revenue. The expansion of AIDC storage is driven by a widening gap between AI computing power demands and utility grid capacity. Power consumption per rack in modern AI facilities has jumped from 5–8 kW in traditional data centers to 40–100 kW, while grid connection approvals and capacity upgrades often take three to five years. Onsite battery systems serve both as backup power and as a bridge to accelerate facility commissioning. Energy storage is moving from an auxiliary fallback to an integrated structural component of data centers. Following NVIDIA’s October 2025 announcement of an 800V DC power architecture—designed to phase out diesel generators and legacy uninterruptible power supplies (UPS)—storage systems are being wired directly into primary distribution networks. This shift expands the market beyond traditional buyers like power utilities and renewable energy developers to encompass cloud providers and infrastructure operators, establishing a distinct category of demand. Globalization 2.0 While domestic market consolidation marks the industry’s initial transition to maturity, international expansion presents a secondary test. Tariff structures, raw material access, and regulatory standards are tightening concurrently across major export markets. Trade barriers represent the most immediate hurdle. The European Union’s countervailing duties on Chinese battery electric vehicles have been in effect for five years and are expanding to include plug-in hybrids. In the United States, the Inflation Reduction Act continues to raise domestic content requirements for power and energy storage batteries. Concurrently, China has reduced its export tax rebates for batteries from 9% to 6% as of April 2026, with complete elimination scheduled for January 2027. Rising trade costs are accelerating a shift from direct product exports to localized overseas manufacturing. At the same time, competition over raw materials is intensifying. The U.S.-led Minerals Security Partnership continues work to build key mineral supply chains outside China, while changing rules in jurisdictions like Zimbabwe highlight shifting export policies. Strategic positioning across raw material supply chains remains an ongoing operational priority. Regulatory compliance presents a quieter but more complex technical hurdle. The European Union’s Battery Passport regulations will become mandatory on February 18, 2027, requiring detailed disclosure of lifecycle carbon footprints, material origins, and recycled content percentages. The impact of these rules depends heavily on how accounting frameworks are defined; systematic discrepancies in baseline emissions databases regarding Chinese energy mixes or manufacturing processes could affect market access. In response, leading Chinese manufacturers are moving from passive compliance to active engagement with international standards. CATL has partnered with BMW and Germany’s Catena-X network to help establish over 90 baseline carbon accounting metrics. BYD invested over 100 million yuan to develop its "i-Carbon Chain" platform for digital carbon tracking across its supply chain. Similarly, REPT BATTERO collaborated with TÜV Rheinland and Circulor on a battery passport initiative, securing third-party verification for 98 independent datasets from an EU Notified Body. Overseas manufacturing footprints are expanding in tandem: CATL’s production complex in Hungary, BYD’s plant in Brazil, Gotion High-tech’s joint venture in the United States, and Envision AESC’s gigafactory in Spain. Chinese battery makers are transitioning from a model of centralized domestic production for export toward localized manufacturing aligned with international standards. This next phase of international expansion hinges on regulatory transparency, supply chain control, and deep local integration. Beyond Maturity In July 2026, as equity valuations diverged from corporate earnings across the lithium sector, market participants wrestled with where the industry stands in its broader evolution. The most visible change is the shift in growth drivers. With energy storage shipments reaching 485 GWh in the first half of the year to account for over 40% of total output, the gap between storage and mobility applications is closing rapidly. This demand-side pivot coincides with capacity rebalancing on the supply side, where power battery installation rates have adjusted from 70% down to the 30%–40% range, signaling an end to early, unbridled expansion while overall margins remain under pressure. These structural shifts are redefining entry barriers across the market. With 314Ah cell prices rising over 25% in six months and AIDC storage demand expanding rapidly, technical capabilities are increasingly determining market positioning. As national standards for solid-state technology take effect and EU Battery Passport deadlines approach, regulatory compliance has become a baseline operational requirement. The trajectory of lithium carbonate—falling to 60,000 yuan, rebounding to 200,000, and settling near 150,000—reflects a market seeking equilibrium. This broader transition was highlighted by a joint policy announcement on July 18, when three Chinese government ministries introduced a new consumption tax structure for batteries. Effective September 1, lithium-ion batteries are subject to a 2% consumption tax, rising to 4% in September 2027, while sodium-ion and solid-state batteries remain exempt through the end of 2028. The policy ends a tax exemption for lithium batteries that spanned more than a decade. Phasing in taxation uses fiscal policy to encourage capacity optimization and technological upgrading by taxing established chemistries while incentivizing next-generation alternatives. For second-tier cell makers operating on narrow margins, the 2% tax burden—equivalent to roughly 0.007 to 0.008 yuan per Wh—will further compress operating margins, reinforcing market consolidation around capitalized leaders. For China's lithium battery industry, 2026 represents a clear inflection point. Enterprises equipped with proprietary technology, international compliance frameworks, and established brand equity face a broader global landscape as the sector matures. Conversely, manufacturers reliant on single customers, lacking technical moats, or unable to meet evolving compliance standards face mounting pressure. The early expansion phase of the lithium battery industry has drawn to a close. Its mature chapter is just beginning. (This article was first published on the TMTPost App. Author | AGI-Signal, Editor | Zhao Hongyu)梅西走下世界杯赛场，变身硅谷投资人。
- 16 他甚至认为，为了抢占先机，“稍微低一点的资本效率也是可以接受的”。
- 17 我们希望与行业内成熟、有实力的企业开展合作，包括联合发布白皮书、分享行业经验和最佳实践，为客户提供参考建议。
- 18 届时，巴黎圣日耳曼已经做好了低价出手的准备。
- 19 主帅达利奇手中的牌面依然是“老戏骨+中生代”的搭配。
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