Executives project an ‘explosive growth’ in energy storage, with Chinese firms extending their lead amid AI and data centre demand
2-MIN READ2-MIN ListenDaniel Renin ShanghaiPublished: 3:00pm, 1 Apr 2026China’s Ganfeng Lithium, the world’s largest producer of lithium metal, is envisioning an “explosive growth” in the global energy storage system (ESS) market in 2026, spurred by higher prices of the key battery material and buoyant demand for renewable energy infrastructure.Executives including president Wang Xiaoshen told an investors’ conference on Tuesday that the global decarbonisation drive had created a strong and sustainable trajectory for Ganfeng, which swung from loss to profit last year as lithium prices climbed.
Ganfeng’s Hong Kong-listed shares slumped 4.7 per cent to HK$69.30 on Wednesday morning while its Shenzhen-listed shares dropped 1.4 per cent to 77.28 yuan.
In 2025, Ganfeng posted net profits of 1.61 billion yuan (US$233.8 million), compared with net losses of 2.1 billion yuan a year earlier.
