Shanshan Co. Maintains Leadership in Anode Materials and Polarizers Amid Parent Company Restructuring

In 2025, amid its parent company’s bankruptcy restructuring, Shanshan Co. (600884.SH) continues to drive growth in its two core businesses: anode materials and polarizers. As the lithium-ion battery sector stabilizes, polarizer supply tightens, and emerging markets expand, Shanshan expects sustained sales and profit growth in these segments.
Independent Operations Amid Challenges
On February 26, 2025, Shanshan announced the Ningbo Yinzhou District People’s Court had approved restructuring for its 控股股东，杉杉集团. Despite this, Shanshan emphasized its operational independence, stating it maintains separate assets, finances, and business operations. The Ningbo government and financial institutions have pledged support to ensure stability, with legal experts noting the restructuring would not materially impact Shanshan’s daily operations.
2024 Performance Highlights
Anode Materials: Retained 21% global market share (No.1 in synthetic graphite), with sales and profitability surging.
Polarizers: Held 34% global market share in large-size polarizers, maintaining leadership.
Revenue: Combined core business revenue reached ¥18-19 billion, with net profit of ¥650-750 million.
Innovation in Anode Materials
Shanshan is advancing solid-state battery technology, securing 334 patents (including 8 international patents). Key developments include:
Silicon-carbon materials for solid-state batteries, now in mass production.
A 40,000-ton silicon-based anode facility in Ningbo, with Phase 1 operational.
High-capacity hard carbon materials for sodium-ion and solid-state batteries, addressing industry challenges.
Polarizer Growth Through Acquisition
Acquisition of LG Chem’s SP business (OLED and automotive polarizers) positions Shanshan for high-growth markets:
OLED polarizer demand to surge 102% in 2025, per CINNO Research.
Automotive display shipments to reach 180 million units in 2025, growing 6.5% annually.
SP business strengthens Shanshan’s OLED TV (40% global share) and automotive polarizer (25% share) capabilities, with mass production expected Q1 2025.
Market Outlook
Omdia forecasts a 7% supply deficit in polarizers by Q1 2025, exacerbated by U.S. tariff policies. Shanshan’s strategic moves in solid-state batteries and high-end polarizers aim to capitalize on these trends, solidifying its global leadership.
Source: 华夏时报
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Title: Shanshan Co. Leads Anode Materials & Polarizers Amid Restructuring Challenges (70 characters)
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Keywords: Shanshan Co., anode materials, polarizers, solid-state batteries, OLED polarizers, lithium-ion battery materials, corporate restructuring, global market share