As a leading domestic lithium battery cathode material enterprise, Ronbay Technology is fully advancing into the sodium-ion battery field after experiencing industry cyclical fluctuations, initiating another strategic transformation following the high-nickel ternary material route. This pioneering company, which rose to prominence by accurately betting on high-nickel technology and was among the first batch of listed enterprises on the Science and Technology Innovation Board, is now demonstrating its determination to break through industry difficulties with a 100,000-ton-level sodium-ion battery production capacity plan.
     Ronbay Technology's development trajectory is a microcosm of the lithium battery industry. After listing on the Science and Technology Innovation Board in 2019, the company leveraged its technological advantage as the first domestic enterprise to achieve mass production of NCM811 high-nickel materials, achieving explosive performance growth. Its revenue soared from 3.795 billion yuan to 30.12 billion yuan between 2020 and 2022, with a peak market value exceeding 80 billion yuan, successfully partnering with global top-tier battery customers such as CATL. Its core product, high-nickel ternary material, has become a key solution for high-end electric vehicles to address "range anxiety" due to its high energy density, once leading the industry with the highest market share.
     However, industry changes have quietly arrived. With the improved energy density and prominent cost advantages of lithium iron phosphate materials, the market share of ternary lithium batteries has continued to shrink, dropping to only 18.6% in the first 10 months of 2025. Coupled with overcapacity and intensified price competition in the power battery industry, Ronbay Technology's performance suffered a sharp decline. Its revenue fell consecutively in 2023 and 2024, with a cumulative net profit drop of over 80% and a market value evaporation exceeding 50 billion yuan. Against this backdrop, Bai Houshan, the company's founder, still ranked on the 2025 Hurun Rich List with a fortune of 6.4 billion yuan, reflecting capital market confidence in his transformation strategy.
     Sodium-ion batteries have become Ronbay Technology's key to breaking the deadlock. In November 2025, the company grandly launched its sodium-ion battery cathode materials, and its 6,000-ton polyanion cathode material project has started construction in Xiantao, Hubei. According to the plan, the company will achieve a sodium-ion battery production capacity of over 100,000 tons by 2026 through a combination of renovation, mergers and acquisitions, and new production line construction, striving to seize the next-generation energy storage and power battery track. With the emerging expectation of price increases in lithium battery cathode materials and the gradual implementation of sodium-ion battery business, this 25-billion-yuan market value giant is ushering in a new development opportunity.

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