On August 26, Beijing Easpring Material Technology Co., Ltd. (Easpring, 300073.SZ) released its 2026 semi-annual report on CNInfo. The report shows that the company achieved revenue of RMB 10.475 billion in the first half, up 136.33% year-on-year; net profit attributable to shareholders of RMB 520 million, up 67.25%; and non-recurring deducted net profit of RMB 463 million, up 84.36%. Regarding sodium-ion cathode material layout, the report disclosed: polyanionic-type materials have precisely positioned leading customers both domestically and internationally, while layered oxide materials continue to increase shipment volumes and have been applied in batch to downstream customers' cylindrical start-stop, prismatic energy storage and micro-mobility projects. The company also stated that it is accelerating the industrialization of next-generation battery materials including solid-state lithium materials, lithium-rich manganese-based materials and sodium-ion cathode materials.
On the background: Easpring is one of the leading lithium cathode material companies in China, with products covering ternary materials, lithium iron (manganese) phosphate and lithium cobalt oxide, serving mainstream battery manufacturers at home and abroad. In the sodium-ion cathode field, the company had previously disclosed its layout across polyanionic compounds, layered oxides and Prussian blue/white systems; this interim report further clarified the latest progress of each system: the polyanionic route focuses on 'positioning leading customers', while the layered oxide route has entered the stage of 'continuously increasing shipments and batch applications'.
The report also mentioned that Phase I of its Finland base (60,000 tons per year high-nickel ternary materials) is expected to have some production lines completed and commissioned by the end of 2026, and Phase I of its Kunming base (150,000 tons per year LFP) has started construction, with overseas and domestic capacity expansion advancing in parallel.
The interim report did not disclose specific shipment volumes, revenue contributions or customer lists for sodium-ion cathodes, and the above statements are the company's disclosure caliber; 'positioning leading customers' and 'batch applications' are qualitative statements, and the sodium-ion cathode share in the company's revenue is still small; capacity plans for the polyanionic and layered oxide routes were not separately disclosed in this report.