[Lithium Battery: Putailai's subsidiary Jiatuo resumes IPO review on Beijing Stock Exchange]

CALB Technology Research Institute (Hefei) Co., Ltd. was recently established with registered capital of RMB 100 million, wholly owned by CALB Group, covering new energy and new material R&D, battery manufacturing and import-export business. CALB focuses on lithium-ion power batteries, BMS and energy storage batteries for EVs and storage scenarios such as power stations, grids and data centers. Its H1 2026 net profit is expected at RMB 1.506-1.581 billion, up about 100%-110% YoY.

This week, the industry chain as a whole exhibited an operating pattern of “upstream consolidation, divergent performance in materials, and improving demand expectations.” Lithium ore prices continued to consolidate at highs, with miners still holding prices firm, but smelting margins were squeezed, and salt producers’ procurement gradually returned to rigid demand; lithium carbonate pulled back after shooting up, with supply growth driven by salt lake production resumptions, while downstream stockpiling on dips provided support for prices. The cobalt market was generally weak, with a wide price spread between buying and selling prices for intermediate products; cobalt sulphate and cobalt powder prices remained under pressure, and actual transactions were still sluggish. Materials showed divergent performance: ternary cathode material prices weakened as raw materials pulled back, while LFP continued to rise on higher costs and robust orders, with industry supply still tight. Anode prices held steady, separators stayed rangebound, and electrolyte costs moved higher, driven by price increases in LiPF6, additives, and solvents. As the “September-October peak season” approaches, stockpiling and production schedule expectations improved in certain segments, but the market still needs to watch raw material price fluctuations, capacity releases, and the fulfilment of end-user orders.

This week, the cobalt industry chain as a whole remained in the doldrums, with prices of some products continuing to edge lower. Refined cobalt was supported by overseas miners’ purchases of low-priced intermediate products; futures stopped falling and rebounded, but downstream consumption was still in the off-season, and spot transactions saw only limited improvement. Divergence between buyers and sellers of cobalt intermediate products was pronounced, with downstream purchasing interest clearly shifting lower; the average SMM cobalt intermediate product price fell to $19/lb. Cobalt sulphate was affected by low-priced deals outside China and weakening cost support, with the average price dropping to 71,000 yuan/mt; cobalt chloride and Co3O4 were broadly in the doldrums. The cobalt powder market continued to grind lower, with the average price falling to 420,000 yuan/mt, as downstream demand from the cemented carbide sector remained weak. On the cathode material side, ternary cathode precursor and ternary cathode material prices were under pressure; export orders were relatively better, but growth in China demand was limited. LCO supply and demand remained weak, and inventory destocking was slow. With the traditional peak season approaching, the market focused on whether stockpiling in September could drive a recovery in demand; in the short term, price stabilization still needed to wait for signals of concentrated procurement. The English translation of the above text is: