Tonze New Energy Technology Co., Ltd. Amid a Resurgent Lithium‑Battery Chain
Tonze New Energy Technology Co., Ltd. (股票代码：SZ002759) is a Shantou‑based manufacturer that specialises in raw materials for lithium‑ion batteries, producing compounds such as lithium hexafluorophosphate, sodium fluoroaluminate and a range of fluoride salts. In addition, the company markets and distributes household appliances. As of early February 2026, its market value stands at roughly 1.87 billion CNY, with a share price that closed at 38.01 CNY on 3 Feb 2026. The firm’s price‑earnings ratio is negative, at –15.24, reflecting the volatile earnings environment that still characterises many players in the battery‑material sector.
Industry Context: “Multi‑Point Flowering” in the Lithium Supply Chain
The lithium‑battery industry has entered a phase of gradual recovery. According to a recent Wind‑based snapshot dated 5 Feb 2026, 70 A‑share listed companies across the lithium chain have released performance forecasts or interim reports. Of these, 50—more than 70 %—projected a year‑over‑year rise in net profit, inclusive of companies that have shifted from loss to profit. Nineteen firms are expected to report a turnaround to profitability, underscoring a broader industry resurgence.
The drivers of this rebound are two‑fold. On the supply side, the “anti‑congestion” strategy adopted by upstream lithium producers has begun to alleviate cost pressures. On the demand side, the expansion of electric‑vehicle fleets, coupled with renewed interest in battery storage solutions, has created a steady flow of orders. Lithium‑salt prices have rebounded, with carbonate lithium trading above 140 % of its 2025 low. The market for cathode, anode, electrolyte, and separator materials is likewise showing signs of normalization, as highlighted by the positive outlook for major players such as Hunan Youneng and other anode suppliers.
Sodium‑Battery Developments and Their Implications
In a notable strategic shift, automotive giant Changan has partnered with battery developer Ningde Times to accelerate the commercial roll‑out of sodium‑ion batteries. The first mass‑produced sodium‑battery passenger car was unveiled on 5 Feb 2026, with plans for a mid‑year launch. Sodium‑ion cells, which employ sodium rather than lithium as the charge carrier, boast several advantages: abundant raw materials, lower mining costs, a wider temperature operating range, and improved safety characteristics. Changan’s prototype demonstrated a 3‑fold increase in power output under –30 °C conditions and maintained over 90 % capacity at –40 °C, with remarkable resilience to extreme physical abuse.
While sodium batteries are still in the early stages of mass deployment, their emergence signals a diversifying demand landscape that could indirectly benefit suppliers of high‑purity fluoride salts and related chemicals. Tonze, which produces sodium fluoroaluminate and other fluoride‑based raw materials, may find new avenues to supply components for both lithium‑ and sodium‑ion technologies.
Tonze’s Position in the Resurgent Market
Given the current trajectory, Tonze’s product portfolio aligns with several key demand pillars:
| Product Category | Market Relevance |
|---|---|
| Lithium hexafluorophosphate | Core electrolyte additive for lithium‑ion cells |
| Sodium fluoroaluminate | Emerging feedstock for sodium‑ion battery electrolytes |
| Fluoride salt series | Versatile anode and cathode material precursor |
The company’s inclusion in the Shenzhen Stock Exchange’s consumer discretionary sector places it within a network that benefits from broad industrial policy support aimed at boosting domestic battery manufacturing. While its current earnings are negative, the industry’s turnaround could provide the revenue boost needed to cross the breakeven threshold.
Investor Sentiment and Market Dynamics
In the early trading session on 6 Feb 2026, significant institutional capital flowed into the broader “electric‑new” sector, with a net inflow exceeding 40 billion CNY. Notably, five‑zhou new spring recorded a record 9.46 billion CNY of net buying, signalling investor confidence in emerging battery technologies. While Tonze did not feature prominently in the headline movers, the overall bullishness in the lithium chain could translate into a favourable environment for all players, including Tonze.
This analysis draws exclusively on the publicly available financial news and company fundamentals provided in the input. No additional external information has been incorporated.
