Shangtai Technology said at its Q3 2026 results briefing it has achieved
industrialization breakthroughs in diversified synthetic graphite anode
materials; its coal-based synthetic graphite anode now has pilot-scale
production capacity and a complete production process. Expanding feedstock from
oil-based to coal-based — which the company cites as more abundant and
lower-cost — helps broaden raw-material supply, ease oil-price-driven cost
pressure, and improve supply-chain resilience and cost competitiveness.