As effective capacity in the traditional graphite anode material industry showed a tightening trend at the end of 2025, China's graphite anode enterprises intensively disclosed progress on investment and expansion projects in Q1 2026. This round of expansion, on one hand, aligns with the upgrading trend of downstream power battery and energy storage market demand, and on the other hand, focuses on technological iteration and cost optimisation, continuously consolidating the overall competitive landscape of the industry.
Key Investment and Expansion Project Information
- Lanzhou Rongjie Materials plans to build a 50,000 mt/year high-performance lithium-ion battery anode material project, with a total fixed asset investment of approximately 1.1 billion yuan.
- Epnuo (Shenzhen) New Energy Technology Group Co., Ltd.: A 20,000 mt anode material project will be located in the Anqing area of Songshan Industrial Park. The project is expected to commence construction in March 2026 and start production by the end of 2026, with fixed asset investment of approximately 1.2 billion yuan.
- Inner Mongolia Huarui Carbon Technology Co., Ltd.: The total investment amounts to 510 million yuan. In terms of construction scale and content, the project will create a modern industrial base integrating office, production, and supporting facilities, with planned construction of office buildings, canteens, graphitisation main workshops, crucible workshops, carbonisation workshops, material suction workshops, auxiliary material workshops, new crucible workshops, switching stations, and a series of other main and supporting facilities. Meanwhile, core production equipment will be installed, including 32 graphitisation furnaces, 2 carbonisation tunnel kilns, 2 grinding lines, and other utility and supporting facilities, ultimately achieving an annual capacity target of 20,000 mt of lithium-ion battery anode material.
- Hunan Zhongke Shinzoom Co., Ltd.: The 300,000 mt anode material project will be built and put into production in two phases. Phase I involves an investment of approximately 4.7 billion yuan to build an integrated production site with an annual capacity of 200,000 mt of lithium-ion battery anode material, with a construction period of 18 months; project construction will commence within 6 months after land delivery and be completed and put into production within 18 months after construction starts. Phase II involves an investment of approximately 2.3 billion yuan to build an integrated production site with an annual capacity of 100,000 mt of lithium-ion battery anode material; Phase II construction will commence within 12 months after Phase I is completed and put into production, and be fully completed and put into production within 18 months after construction starts.
- Jiangsu Henggui Xin New Materials Co., Ltd.: The company plans to invest 1 billion yuan to establish an annual production capability of 36,000 mt of lithium battery anode material, with the project expected to be completed and put into production in 2027.
- Shangtai Technology: The total investment reaches 3.558 billion yuan, of which 4 billion yuan in raised funds is planned to be used, with a planned construction period of 18 months. After the project is completed and put into production, it will add an annual integrated capacity of 200,000 mt of artificial graphite anode material.
- Inner Mongolia Xiangfu New Energy Co., Ltd.: The planned total investment is approximately 5.7 billion yuan. After the project is fully completed and operational, it can produce 200,000 mt of lithium battery anode material annually, with estimated annual profit of 400 million yuan, annual tax revenue exceeding 200 million yuan, and creation of over 1,200 jobs.
- Jiangxi Quanzhi New Materials Co., Ltd.: The enterprise plans to invest 30 million yuan to build an annual 20,000 mt lithium battery anode material project in Luoting Industrial Park, with Phase I total investment of 13 million yuan.
- Huizhou BTR New Materials Technology Co., Ltd.: With a total investment of 550 million yuan, the company plans to build 80,000 mt of anode material capacity, located in the BTR park in Huangdong Village, Zhenlong Town, Huiyang District, Huizhou. The project construction period runs from 1 March 2026 to 1 December 2027. All filing procedures have been completed, and the project is about to enter the substantive construction phase.
- Henan Yuzelin New Materials Co., Ltd.: The company plans to invest 80 million yuan to utilise existing idle factory buildings to build a 50,000 mt/year lithium battery anode material production line, with the graphitisation process to be outsourced.
- Inner Mongolia Qingyi New Materials Technology Co., Ltd.: With a total investment of 3 billion yuan, the company plans to build 100,000 mt of anode material capacity, located on the plot east of Shiji Road, south of Qingda Line, west of Chuangzhi Road, and north of Dianzhuang Avenue in Baotou Equipment Manufacturing Industrial Park, Qingshan District, Baotou, Apr 2026-Dec 2029.
Going forward, the anode material industry will exhibit three major trends: products upgrading towards higher added value, and capacity concentrating towards integration, low-carbon development, and intelligent manufacturing.
SMM New Energy Industry Research Department
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lv Yanlin 021-20707875
Zhou Zhicheng 021-51666711
Zhang Haohan 021-51666752
Wang Zihan 021-51666914
Wang Jie 021-51595902
Xu Yang 021-51666760
Chen Bolin 021-51666836
Xu Mengqi 021-20707868
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