CATL Surpasses LG Energy Solution, Leads in Global Battery Patents Over Past Decade

Post-holiday battery materials market trends diverged. Lithium ore quotes rebounded slightly, trade inventories were destocked, and ore prices are expected to consolidate in line with lithium carbonate in the short term. Lithium carbonate futures retreated after a rapid rise, closing at 117,300 yuan/mt, down 1.28%; domestic production declined, downstream inventories were significantly destocked, and salt plants continued to ship mainly under long-term contracts. Lithium hydroxide spot order quotes rose to 130,000–140,000 yuan/mt, but purchasing was cautious and transactions were sluggish. Cobalt products and nickel sulphate remained under pressure, cost support weakened, and demand recovery for ternary cathode materials was limited. LFP orders were relatively strong, leading production lines were near full capacity, finished product inventories declined, and the average price rose to 50,400 yuan/mt; resistance to iron phosphate price increases grew. Artificial graphite had strong cost support, separators were driven by NEV, energy storage, and export rush demand, with a tight supply-demand balance; electrolytes rose due to earlier cost pass-through. In the recycling market, inquiries recovered, but transactions had yet to pick up volume. Going forward, attention should be paid to the sustainability of restocking, the realization of production schedules, and changes in raw material prices.

Tinci Materials has passed the HKEX main board listing hearing, with J.P. Morgan, CITIC Securities and GF Securities as joint sponsors, planning to issue up to 413 million overseas shares. Its prospectus shows the company has ranked first in global electrolyte shipments for ten consecutive years with about 36% share in 2025, and is the largest LiPF6 and LiFSI supplier globally with shares of 38.2% and 47.2% respectively. In H1 2026, revenue rose 109.28% YoY to RMB 14.71 billion and net profit surged 967.91% to RMB 2.861 billion.