China to Exempt Sodium-Ion, Solid-State and Other New Battery Technologies from Consumption Tax

Recently, the Hubei Songshi New Materials annual 4,000-ton lithium battery fine chemical project commenced production in Xiantao, Hubei. The project focuses on the research, development, and production of core additives for high-end lithium battery electrolytes, breaking foreign technological monopolies. Its key performance indicators exceed industry standards, and the product holds the top market share in China.

On July 20, Ningbo Zhenyu Technology Co., Ltd. released its performance forecast for the first half of 2026. Zhenyu Technology expects to achieve a net profit attributable to shareholders of the listed company of between 420 million yuan and 460 million yuan for the period from January 1 to June 30, 2026, representing a year-on-year increase of 98.72% to 117.65% compared to 211 million yuan in the same period last year. Regarding the reasons for the significant performance growth, the company stated that its operating plans were implemented in an orderly manner during the reporting period, and the sustained rapid growth in downstream lithium battery demand, particularly in the energy storage battery market, drove a notable increase in main business revenue.