The release of half-year financial reports across China’s lithium battery copper foil industry on the end of August 2025 has highlighted two defining themes: diverging corporate performance and an intensifying technology race. With the commercialization of solid-state batteries accelerating, leading enterprises are ramping up investment in high-end production capacity, while smaller players are struggling under mounting price competition.
According to Changjiang Nonferrous Metals Network, on August 29, 2025, market prices were as follows: 4.5μm lithium battery copper foil at RMB 107,000–108,000/ton (average RMB 107,500), 6μm foil at RMB 96,450–97,950/ton (average RMB 97,200), and 8μm foil at RMB 95,200–97,200/ton (average RMB 96,200).
Financial results underscore a “strong get stronger” trend. Jiayuan Technology, with 41,400 tons of copper foil output and RMB 3.3 billion in lithium copper foil revenue, remains firmly in the top tier. Its 4.5–8μm products have already entered the supply chains of major clients including BYD and Penghui Energy, and the company plans to achieve hundred-ton-level supply of solid-state battery copper foil within the year. Similarly, Hengtong Co. increased the share of copper foil revenue to 67.59% by focusing on high value-added products, with sales volume surging 131% year-on-year. DeFu Technology, meanwhile, boosted yield rates through smart manufacturing upgrades, with its Jiujiang Amber base securing a RMB 500 million capital injection to support expansion.
Technology upgrades are reshaping competition. With mass production of solid-state batteries approaching, 3.5μm ultra-thin copper foil and porous copper foil have become key R&D priorities. A positive cycle of “R&D–sampling–certification” is taking shape, with leading companies establishing joint labs with downstream clients to accelerate commercialization.
Challenges remain. Companies such as Fangbang Co. and Yihao New Materials reported losses or slower growth in copper foil businesses, reflecting structural overcapacity in the low- and mid-end segments. Industry estimates suggest that current processing fees for lithium copper foil have rebounded about 18% from 2023 lows but remain below average cost lines, forcing some SMEs to cut output or shift to electronic circuit copper foil. On the regulatory side, the revised Lithium-ion Battery Industry Standards raise the bar for copper foil metrics such as specific surface area and tensile strength, expediting the phase-out of obsolete capacity.
Meanwhile, the dual themes of “domestic substitution + technology upgrading” continue to gain momentum. Taijin New Energy is pursuing a STAR Market IPO, with proceeds earmarked for green electrolytic equipment and titanium electrode materials, seen as a breakthrough for domestic cathode roller technology. Competition in solid-state battery current collectors is also intensifying, with companies such as Nord Co. and Hailiang accelerating investment in magnetron sputtering coating lines to capture next-generation battery material opportunities.
Industry analysts predict that as 2026—widely expected to be the first year of large-scale solid-state battery production—approaches, companies capable of mass-producing copper foil at thicknesses below 3μm will be best positioned to capture the next wave of technology-driven growth.
Source：Changjiang Nonferrous Metals Network