The performance of lithium iron phosphate industry has declined, and most companies are losing money

In 2023, the annual reports of most lithium iron phosphate listed companies showed that more than 90% suffered losses. For example, the net profit of companies such as Defang Nano, Hubei Wanrun, and Anda Technology fell by an average of more than 150%. Only Hunan Yuneng remained profitable, but its net profit also fell by nearly 50%.