Recently, the special meeting on ensuring supply and stabilising prices for phosphate fertilizers and the release of Yuntianhua’s initiative aimed to stabilise the domestic fertilizer market for spring plowing. However, the underlying reality of "high sulfur prices" and the strong regulatory measures of "domestic priority and export restrictions" may have a significant impact on the new energy industry, particularly in the field of LFP batteries.

This week, the solid-state battery sector gained significant momentum, with multiple domestic enterprises achieving key breakthroughs in environmental approvals, sample deliveries, and mass production, while overseas players in South Korea and the U.S. intensified technological competition. The industry chain advanced simultaneously across all segments, from cathode and anode materials and electrolytes to battery cell manufacturing, entering a phase of intensive validation and capacity building.

Shanghai Firm-Lithium has established 0.5GWh sulphide all-solid-state battery and 30mt-scale electrolyte mass production lines in Shanghai, Jiangxi, and Changzhou by 2025, with pouch battery cells achieving 410Wh/kg and 2,000 cycles. It has secured designations from automakers such as SAIC and FAW, and plans to expand to 2GWh by 2026, taking the lead in achieving batch deliveries across consumer, small power, and automotive applications.

Canmax is advancing solid-state battery development with a "sulfide electrolyte + high-nickel/lithium-rich manganese-based cathode" strategy, progressing in mass production and sampling of key materials, supported by CATL's investment, targeting a material capacity of 15,000 mt by 2026. From 2025 to 2027, the company aims to industrialize materials and achieve breakthroughs in all-solid-state battery cells.

This week, the solid-state battery sector gained significant momentum, with multiple domestic enterprises achieving key breakthroughs in environmental approvals, sample deliveries, and mass production, while overseas players in South Korea and the United States intensified technological competition.

In November, the production end of sodium-ion battery cathode materials performed impressively, with production up 50% MoM and 54% YoY, indicating a continuous recovery in industry prosperity. In terms of product structure, poly-anion NFPP remains the market mainstream, accounting for 76% of total production, an increase of 4 percentage points from October, further highlighting the leading effect.

SMM's monthly metal production data is released at the end of each month, aiming to uncover the true fundamentals and help industry chain participants and investors gain a clearer grasp of the future direction of the non-ferrous metal market.

On November 30, 2025, a semi-solid-state battery energy storage power station with a capacity of 200 MW/800 MWh was successfully connected to the grid in Wuhai, Inner Mongolia. Utilizing Qingtao Energy's technology, the station achieves a cycle life of up to 12,000 cycles. This marks the first successful large-scale commercial application of semi-solid-state battery energy storage.

DEEGARES Energy focuses on the entire industry chain layout of solid-state batteries, overcoming interface compatibility challenges with its unique "conformal curing technology." Its Ji'an solid-state battery achieves an energy density of 350 Wh/kg, supports operation at -40°C and fast charging in 10 minutes, and has passed military-grade safety tests. The 1 GWh Huzhou production site commenced operations in 2025 at full capacity, with products covering multiple fields including power batteries, ESS, and drones, securing orders domestically and overseas. The company was recognized as a potential unicorn enterprise in Jiangsu.