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Industrial Securities: The inflection point of supply and demand for lithium iron phosphate is about to appear, and high-voltage dense products are expected to increase profit elasticity.
On November 20th, Jinshi Data reported that since 2024, although the demand for high-voltage high-density lithium iron phosphate cathodes has continued to rise, the industry as a whole is still in a state of oversupply. The demand for high-voltage high-density lithium iron phosphate cathodes is strong, and some products have a certain premium. It is optimistic that companies leading the industrialization of high-voltage high-density products will obtain excess returns.