CATL signed electrolyte supply agreements totaling 77万吨 with Yongtai Technology and Capchem, disclosed on 6月8日晚间 and 6月7日晚间 respectively. Yongtai Technology's subsidiary Zhejiang Yongtai New Energy Materials signed a contract for 47万吨 over 2026-2028 (7万吨, 15万吨, 25万吨 annually), while Capchem secured a 30万吨 agreement for the same period (5万吨, 10万吨, 15万吨 annually). The agreements lock in supply for CATL's production ramp during the three-year window. Electrolyte is one of four core materials in lithium batteries, with demand driven by expansion in new energy vehicles and energy storage sectors.
Yongtai Technology Secures 47万吨 Electrolyte Agreement with CATL
Yongtai Technology disclosed on 6月8日晚间 that its wholly-owned subsidiary Zhejiang Yongtai New Energy Materials signed an electrolyte cooperation agreement with CATL. Under the agreement, CATL plans to purchase 7万吨, 15万吨, and 25万吨 of electrolyte from Yongtai New Energy in 2026, 2027, and 2028 respectively, totaling 47万吨. The agreement marks deeper long-term cooperation between Yongtai and a major downstream customer in the lithium battery materials sector. Yongtai stated the agreement is expected to positively impact the company's operating results for the 2026-2028 period and enhance its market share and core competitiveness in the lithium battery industry. The company noted the agreement's performance carries uncertainties, with the agreed procurement volume subject to significant variability.
Yongtai Technology, founded in 1999 and listed in 2009, is headquartered in Taizhou, Zhejiang Province. With fluorine technology as its core, the company covers new materials (new energy lithium battery and fluorinated liquid materials), pharmaceuticals, plant protection, and trading businesses. In 2025, Yongtai recorded revenue of 52.14亿元, up 13.60% year-on-year, with a net loss attributable to shareholders of 4610.06万元, narrowing the loss by 90.36% year-on-year. In Q1 2026, the company achieved revenue of 16.93亿元, up 59.70% year-on-year, and net profit attributable to shareholders of 1.05亿元, up 889.50% year-on-year, driven by volume and price increases in core lithium battery material products.
Yongtai Technology had explored bringing CATL as a shareholder earlier this year. On 2月8日晚间, Yongtai announced it was planning to issue shares to purchase assets and raise supporting funds, with trading suspended from 2月9日. However, the intended transaction was terminated after only five trading days. Yongtai attributed the termination to failure to reach consensus on the transaction plan, without disclosing further details.
Capchem Signs 30万吨 Electrolyte Supply Contract with CATL
Capchem disclosed on 6月7日晚间 that it signed an electrolyte cooperation agreement with CATL. The agreement specifies that CATL plans to purchase 5万吨, 10万吨, and 15万吨 of electrolyte from Capchem in 2026, 2027, and 2028 respectively, totaling 30万吨. The agreement is valid until 2028年12月31日, with actual procurement subject to confirmed orders.
Capchem achieved revenue of 96.39亿元 in 2025, up 22.84% year-on-year, with net profit attributable to shareholders of 10.97亿元, up 16.48% year-on-year. In Q1 2026, the company recorded revenue of 33.61亿元, up 67.85% year-on-year, and net profit attributable to shareholders of 4.80亿元, up 109.02% year-on-year. Capchem attributed the growth to sustained rapid demand in the downstream energy storage sector, combined with the company's continuous improvement of its core industrial chain. Battery chemical product shipments grew rapidly year-on-year, while product sales prices gradually recovered as industry competition structure optimized, resulting in significant increases in sales volume and revenue and improved profitability. In 2025年12月, Capchem announced plans to apply for listing on the Hong Kong Stock Exchange Main Board.
Enchem and Tinci Materials Announce Large-Scale Electrolyte Agreements
Before CATL's recent agreements, larger electrolyte orders had already emerged in the industry since early 6月. On 6月1日晚间, electrolyte leader Tinci Materials disclosed that its wholly-owned subsidiary Jiujiang Tianci signed a supplementary agreement with Chuneng New Energy, significantly raising the total projected electrolyte supply to no less than 101万吨, with the cooperation period extended to 2030年12月31日. The supplementary agreement added Xiangyang Chuneng New Energy Innovation Technology as a purchasing entity. The original agreement, signed in 2025年7月, stipulated supply of no less than 55万吨 of electrolyte products by 2030年12月31日; the supplementary agreement nearly doubled the supply volume to 101万吨.
South Korean lithium battery electrolyte manufacturer Enchem announced on 2025年12月23日 that its board of directors approved a five-year electrolyte supply contract with CATL for the Chinese market, covering 2026 to 2030 with an average annual supply of 7万吨, totaling 35万吨.
Electrolyte Serves as Core Material in Lithium Battery Production
Electrolyte is one of the four core main materials in lithium batteries, formulated by mixing solvents, lithium salts, and additives in specific proportions. It performs the critical function of conducting lithium ions within the battery and is referred to as the blood of lithium batteries. Electrolyte directly determines a battery's energy density, charge-discharge efficiency, cycle life, high- and low-temperature performance, and safety stability. It is a core guarantee for the performance compliance and safe operation of power batteries, energy storage batteries, and consumer lithium batteries. With the expansion of the new energy vehicle and energy storage industries, electrolyte has become an indispensable key link in the lithium battery industry chain.
FAQ
What did CATL sign with Yongtai Technology and Capchem on 6月8日 and 6月7日?
CATL signed electrolyte supply agreements totaling 77万吨 with Yongtai Technology and Capchem, disclosed on 6月8日晚间 and 6月7日晚间 respectively. Yongtai Technology's subsidiary Zhejiang Yongtai New Energy Materials secured a 47万吨 contract over 2026-2028 (7万吨, 15万吨, 25万吨 annually), while Capchem signed a 30万吨 agreement for the same period (5万吨, 10万吨, 15万吨 annually).
Why is electrolyte important in lithium battery production?
Electrolyte is one of the four core main materials in lithium batteries, performing the critical function of conducting lithium ions within the battery. It directly determines a battery's energy density, charge-discharge efficiency, cycle life, high- and low-temperature performance, and safety stability, making it a core guarantee for the performance compliance and safe operation of power batteries, energy storage batteries, and consumer lithium batteries.
