Citi expects the small-scale battery supply chain to outperform in the short term

Citi stated that under the stronger-than-expected demand for energy storage systems and commercial electric vehicles, the battery cycle has bottomed out, and selective price increases are expected across the entire industry chain. Citi analysts Jack Shang and others mentioned in the report that within the battery industry chain, given that investors hold lighter positions in smaller battery chain companies, EVE and Zhongxin Innovation may outperform CATL in the short term. In terms of battery materials, anti-involution may lead to a slight increase in the prices of cathode materials and separators; they are optimistic about Yuneng New Energy, ENERGY TECHNOLOGY, and Senior