CITIC Securities: Looking ahead to 2027, the overall sentiment of the lithium battery industry is expected to trend upward.

A CITIC Securities research report suggests that looking ahead to 2027, the overall sentiment of the lithium battery industry is expected to trend upward. On the demand side, driven by the increase in per-vehicle battery capacity and the rising proportion of pure electric vehicles in China, the upward trend in global oil prices, and the new car cycle, the strong global demand for power batteries is expected to continue; in addition, factors such as diverse revenue models and new application areas like AIDC are driving further improvements in the economics of energy storage installations, and global energy storage is entering a stage of upward development driven by the resonance of domestic and overseas demand. On the supply side, new capacity expansion in the battery and midstream materials segments is mainly focused on high-end products and overseas capacity, and industry supply and demand are expected to improve further in 2027, with overall supply chain prices stabilizing and rebounding, and high-end products expected to capture higher technology premiums. In addition, the industrialization of new-type batteries such as solid-state and sodium-ion batteries is accelerating, which is expected to bring investment opportunities in the battery, materials, and equipment segments. Focus on high-quality leading companies in the supply chain with greater technological differentiation and stronger cost control capabilities.