LG Energy Solution Ltd373220
▼ NegativeCapitalrelevance
Operating profit fell 77% year-on-year, missing expectations, and excluding tax credits the company posted an operating loss.
Impact on assets 1
Energy Transition & Power Demand
LG Energy Solution LtdTheme Impact 2
Off-coverage companies
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China5
All-Solid-State Battery Concept Stocks Surge; CATL Turnover Exceeds 16 Billion Yuan; No Company Has Yet Provided a Mass-Production Timeline
The all-solid-state battery concept has once again been heatedly speculated by the market. The A-share battery sector rose against the trend amid a sluggish broader market. On October 9, CATL rose 3.84 percent, with turnover of 16.028 billion yuan and net main capital inflow of nearly 2.61 billion yuan. Tinci Materials, Farasis Energy, Great Power Energy and other stocks also moved higher during the same period. According to a review by China Times reporters, the solid-state battery progress of multiple battery and battery material companies is mostly still in the research and development or pilot stage, and large-scale mass production is still far off. At present, no company has put forward a mass-production timeline for all-solid-state batteries. Great Power Energy said there is currently no mass-production timeline, and it depends on upstream raw material prices. The raw materials are mainly solid electrolytes, and no production line has been built yet; it is only at the pilot stage. Tinci Materials said its solid-state battery electrolyte follows the sulfide route and is in the pilot stage, with one pilot production line put into use in the third quarter. Some industry insiders expect that mass production of all-solid-state batteries should occur no earlier than 2028 to 2030, and the current stage is equivalent to technical verification. On the policy front, seven departments including the Ministry of Industry and Information Technology jointly issued the 15th Five-Year Plan for the Development of the New Battery Industry, the first national-level special plan in China's battery field. It proposes that by 2030, all-solid-state batteries will initially achieve large-scale application, long-life lithium batteries will reach a cycle life of 15,000 times, and 19 tasks will be deployed around five major directions including full-chain innovation.
About megatrends
Electrification & Mobility › Next-gen Cells (Solid-state / Silicon-anode) ▲Technology
Electrification & Mobility › Battery Cells & Pack Manufacturing Technology
Electrification & Mobility › Battery Components & Materials ▲Technology
Electrification & Mobility › Incumbent Li-ion Cell Makers Technology
002709.CS · Technology · Neutral Its solid-state battery electrolyte (sulfide route) is in the pilot stage with one pilot line in use in Q3, but no mass-production timeline.
300438.CS · Technology · Neutral Says it has no mass-production timeline for all-solid-state batteries, is only at pilot stage, and depends on upstream raw material prices.
300750.CS · · Neutral Rose 3.84% with heavy turnover as part of the all-solid-state battery concept rally, with no company-specific development of its own.
China▼2
BYD Says Orders for Flash-Charging Models Are Strong; Top Priority Is Ramping Up Second-Generation Blade Battery Capacity
BYD said on its investor interaction platform on October 9 that orders for its flash-charging models are currently strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade battery and fully improve delivery capability to safeguard the car-buying experience for consumers. The company said product pricing is considered comprehensively based on multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release. For product price information, please refer to official announcements.
About megatrends
Electrification & Mobility › Battery Cells & Pack Manufacturing ▲Supply
Electrification & Mobility › Passenger EV OEMs (BEV / PHEV) ▲Supply
Electrification & Mobility › China NEV Leaders ▲Supply
Electrification & Mobility › Incumbent Li-ion Cell Makers ▼Supply
002594.CS · Demand · Positive BYD says orders for its flash-charging models are currently strong, a concrete end-customer demand signal.
002594.CS · Supply · Positive Top priority is accelerating capacity ramp-up of its second-generation Blade battery to improve delivery capability.
South Korea
United States
European Union▲2impact 4
LG Energy Solution Q3 Operating Profit More Than Doubles, Beats Estimates
LG Energy Solution reported preliminary third-quarter operating profit of 756 billion won, more than double the 365.5 billion won Bloomberg consensus estimate, a beat of about 107%. Revenue is expected to rise 59% to 9.6 trillion won for the three months ended September 30, according to the company's regulatory filing. The results were supported by U.S. production tax credits tied to the company's expanding energy-storage system production and incentives for American-made electric-vehicle batteries, along with the restart of production at its North American joint-venture facilities and a pickup in EV shipments to Europe. Excluding those U.S. production tax credits, LG Energy Solution would have posted operating profit of 339.1 billion won. Shares rose 4.09% to 407,000 won, their highest level since June 18, sharply outperforming a 0.6% fall in the broader KOSPI index. The company, which supplies batteries to Tesla, General Motors and Hyundai Motor, is scheduled to release its detailed third-quarter results on November 3.
About megatrends
Electrification & Mobility › Battery Cells & Pack Manufacturing ▲Regulation
Electrification & Mobility › Incumbent Li-ion Cell Makers ▲Regulation
Energy Transition & Power Demand › Energy Storage & Grid Flexibility ▲Regulation
373220.KO · Capital · Positive Q3 operating profit of 756 billion won more than doubled and beat consensus by ~107%, driven by U.S. production tax credits and JV restart.
China▲2
CATL has repurchased a cumulative 10.9452 million A-shares at a cost of 3.303 billion yuan
CATL announced that as of September 30, 2026, the company had repurchased a cumulative 10.9452 million A-shares through centralized bidding, accounting for 0.2482% of its current total A-share capital, with the highest transaction price at 331.61 yuan per share and the lowest at 286.53 yuan per share, for a total transaction amount of 3.303 billion yuan. The repurchase plan proposes to use no less than 20 billion yuan and no more than 40 billion yuan, and the repurchased shares will be cancelled to reduce registered capital.
About megatrends
Electrification & Mobility › Incumbent Li-ion Cell Makers ▲Capital
Electrification & Mobility › Battery Cells & Pack Manufacturing Capital
300750.CS · Capital · Positive CATL repurchased 10.9452 million A-shares for 3.303 billion yuan under its buyback plan, with shares to be cancelled to reduce registered capital.
China▲
Goldman Sachs Names CATL and Zenergy Top China Battery Picks
Goldman Sachs has identified Contemporary Amperex Technology Co and Jiangsu Zenergy Battery Technologies Group as its top picks in China's battery sector. CATL, the world's largest battery manufacturer, ranks first on leading scale, battery technology and cost competitiveness, with Goldman Sachs setting a 12-month price target of HK$947 for its H-shares and RMB565 for its A-shares under a sum-of-the-parts valuation. The bank points to CATL's shift from cells to integrated energy solutions as a key value driver, supporting share consolidation, higher project value capture, recurring service revenue and stronger margins. Zenergy takes second place as an underappreciated high-growth EV battery platform founded in 2019, benefiting from auto-component expertise inherited from Fuyao Glass and described by Goldman Sachs as the fastest EBITDA growth in its coverage universe. The bank maintains a Buy rating on Zenergy with a price target of HK$9, noting it trades at a significant discount to peers. Risks cited for both names include slower-than-expected EV and energy storage demand, rising raw material costs and intensifying competition.
About megatrends
Electrification & Mobility › Battery Cells & Pack Manufacturing ▲Capital
Electrification & Mobility › Incumbent Li-ion Cell Makers ▲Capital
EgyptChina▲
Gotion Begins Delivery of Africa's Largest AC-Coupled Storage Project in Egypt
Gotion has launched global delivery for what will be Africa's largest AC-coupled energy storage project, with the first 50 heavy-duty trucks carrying its self-developed Gotion Grid 5MWh storage systems departing simultaneously from its Jinzhai and Nantong facilities on Sept. 28. The shipment came within three months of signing, a pace Gotion attributes to its vertically integrated supply chain and upstream-downstream coordination. The Gotion Grid systems will serve Egypt's Nefertiti and Horus projects, the country's first large-scale standalone storage projects and, once completed, Africa's largest standalone storage facilities. Developed by AMEA Power and built by China Energy Engineering Group, the projects are designed to strengthen grid stability, support solar and wind integration, and advance Egypt's 2030 clean energy goals, with systems upgraded for extreme heat, sandstorms and salt fog and offering high-voltage stability, high safety and millisecond-level response. Hussain Al Nowais, Chairman of AMEA Power, said the shipment opens a new stage of broader cooperation, while Li Chen, Senior Vice President of Gotion and President of Gotion Americas, called Egypt Gotion's key step into the Middle East and North Africa.
About megatrends
Energy Transition & Power Demand › Energy Storage & Grid Flexibility ▲Supply
Energy Transition & Power Demand › Grid, Transmission & Power Equipment Supply
Electrification & Mobility › Incumbent Li-ion Cell Makers ▲Supply
Electrification & Mobility › Battery Cells & Pack Manufacturing Supply
002074.CS · Demand · Positive Gotion began delivering its self-developed Gotion Grid 5MWh storage systems for Africa's largest AC-coupled storage project in Egypt.
601868.CG · Demand · Positive China Energy Engineering Group is the builder of Egypt's Nefertiti and Horus storage projects, which are now receiving Gotion's systems for construction.
AMEA Power · Demand · Positive AMEA Power is the developer of the Nefertiti and Horus storage projects, whose first shipment of Gotion systems has departed.