SK Innovation to Absorb SK IE Technology Through Merger

At a State Council press conference on August 26, the Ministry of Industry and Information Technology said that during the 15th Five-Year Plan period China will carry out vehicle trade-ins, NEV rural campaigns and pilot programs to shore up county-level charging and swapping infrastructure, aiming for charging stations in every county and charging piles in every township, alongside measures such as optimizing NEV insurance policies and cutting repair costs. Officials noted NEV annual sales rose from 1.367 million to 16.49 million units during the 14th Five-Year Plan, with NEVs' share of new car sales climbing from 5.4% to 47.9%, and China now accounts for over 70% of global NEV, power battery and key material output. A digital ID system for retired power batteries will also be introduced, targeting over one million tonnes of comprehensive utilization by 2030.

Easpring Technology reported on August 25 that its H1 2026 revenue reached RMB 10.475 billion, up 136.33% YoY, with net profit of RMB 520 million, up 67.25%. Growth was driven by higher lithium battery cathode material sales volumes and product prices rising with raw material markets. Its main exports include polycrystalline (NCM), LCO and LFP/LMFP cathode materials, with overseas revenue of RMB 3.655 billion accounting for 34.89% of total revenue, a higher share than a year earlier.

In July 2026, China's phosphate rock imports stood at only 17,000 tons, a sharp month-on-month drop of 87.3%, hitting a near three-year low, while exports fell to zero. The average import price was $84.5 per ton, down 7.6% month-on-month. Among importing provinces, only Guangxi maintained 14,000 tons, with all others dropping to zero. Among source countries, Egypt's shipments shrank sharply by 81%, while Kazakhstan saw a marginal increase. After a spike in June, exports returned to zero in July, mainly due to the completion of order deliveries, the off-season for demand, and regulatory policies. A rebound in imports is unlikely in the short term, and attention should be paid to winter stockpiling and changes in export policies.