HTSC stated that the domestic market is jointly driven by policy and corporate efforts, with Europe intensifying carbon emission assessments by 2025, and expects the Global Electric Vehicles market to maintain steady growth in 2025. Coupled with the rapid growth in Energy storage, the Global battery demand is expected to reach 1544/1937 GWh in 2024/2025, year-on-year +30%/+25%. Entering the fourth quarter, demand for power and Energy storage is improving, and price stabilization signs have appeared in some segments of lithium batteries. The supply and demand pattern is likely to be tight with strong differentiation, and related companies are expected to see simultaneous growth in volume and price next year. In terms of new technology, testing for Solid State Batteries is ongoing, composite Aluminum foils are expected to go into mass production next year, lithium-sodium mixed-use technology is gradually taking shape, and the penetration rate of fast charging is expected to increase. It is recommended to pay attention to the progress of new technology industries.