Zhejiang Carbon One New Energy Co., Ltd. (碳一新能源), a leading player in China’s lithium battery anode materials sector, recorded output value of ¥1.24 billion (approximately USD 181.5 million) in 2025, underscoring the company’s growing commercial scale in an increasingly competitive market.
Li Yanxiong, Chairman of Carbon One New Energy, highlighted the financing pressures that have accompanied the company’s rapid expansion. Speaking at a recent industry forum, Li noted that tight working capital has become a structural challenge shared by many companies currently in the midst of scaling up production capacity.
“Tight working capital is a common problem facing many companies that are currently expanding. We hope that the government will guide enterprises and actively support the capitalisation process – helping to connect us with quality investors and injecting new momentum into the next phase of capacity expansion.”
Carbon One’s call for enhanced government-supported capitalisation pathways reflects a broader pattern across China’s battery materials supply chain, where producers with strong technical and commercial momentum are increasingly looking to equity markets and institutional investors to fund the next stage of growth.
Note: All CNY figures converted to USD at an approximate rate of 1 USD = 6.83 CNY as of April 11 2026.
Sources Shimo Shixun (石墨时讯), “负极黑马 2025年产值达12.4亿”, WeChat, April 11, 2026.
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