According to the WiseNews App, Tianneng Power (00819) rose more than 3%, as of press time, up 3.19%, at HKD 5.50, with a turnover of HKD 15.1029 million.

According to data from the China Automotive Power Battery Industry Innovation Alliance, in May, the installed capacity of power batteries in China was 39.9 GWh, an increase of 41.2% year-on-year and 12.6% month-on-month. Among them, the installed capacity of ternary batteries was 10.4 GWh, accounting for 26.0% of the total installed capacity, an increase of 14.7% year-on-year and 4.3% month-on-month; the installed capacity of lithium iron phosphate batteries was 29.5 GWh, accounting for 74% of the total installed capacity, an increase of 54.1% year-on-year and 15.8% month-on-month.

CITIC Securities research reports point out that in the first quarter of 2024, due to the low operation of lithium prices, some overseas lithium mining companies have proactively reduced production, and the supply of lithium mines has decreased month-on-month; lithium extraction from salt lakes in South America has increased year-on-year in 24Q1, SQM raised its 2024 output guidance, and with the expansion of multiple projects in Argentina, it is expected that the supply of lithium from salt lakes will continue to grow. Since the second quarter, due to the increase in the import of lithium salt and lithium mines in China, domestic production of lithium salt has continued to increase, and the pressure on the supply side has increased, while demand has entered the off-season, causing lithium prices to fall below 100,000 yuan/ton. It is expected that the demand for lithium will pick up in the third quarter, and downstream manufacturers may replenish their stocks during the peak season, so the space for lithium price to fall is expected to be limited.