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SK Innovation will fully absorb its subsidiary SK IE Technology (SKIET) through a merger, five years after SKIET’s listing. SK Innovation and SKIET announced on August 25 that their respective boards of directors approved the merger plan.

At a State Council press conference on August 26, the Ministry of Industry and Information Technology said that during the 15th Five-Year Plan period China will carry out vehicle trade-ins, NEV rural campaigns and pilot programs to shore up county-level charging and swapping infrastructure, aiming for charging stations in every county and charging piles in every township, alongside measures such as optimizing NEV insurance policies and cutting repair costs. Officials noted NEV annual sales rose from 1.367 million to 16.49 million units during the 14th Five-Year Plan, with NEVs' share of new car sales climbing from 5.4% to 47.9%, and China now accounts for over 70% of global NEV, power battery and key material output. A digital ID system for retired power batteries will also be introduced, targeting over one million tonnes of comprehensive utilization by 2030.

Easpring Technology reported on August 25 that its H1 2026 revenue reached RMB 10.475 billion, up 136.33% YoY, with net profit of RMB 520 million, up 67.25%. Growth was driven by higher lithium battery cathode material sales volumes and product prices rising with raw material markets. Its main exports include polycrystalline (NCM), LCO and LFP/LMFP cathode materials, with overseas revenue of RMB 3.655 billion accounting for 34.89% of total revenue, a higher share than a year earlier.