[Reshaping the role of energy storage, the lithium battery industry begins a rational expansion cycle] On October 30, reporters recently visited and investigated many leading upstream and downstream companies in the lithium battery industry chain, such as CATL, Sunwoda, and Shanshan. During the investigation, the reporter learned that judging from the scale of energy storage battery shipments, the energy storage industry is entering a new stage of TWh (terawatt hours), and the underlying logic of the industry has undergone a qualitative change. Energy storage has been upgraded from new energy supporting facilities to new infrastructure for power systems, and the focus of industry evaluation has shifted from factory parameters to the full life cycle benefits of power stations. As strict quality control standards are transmitted upstream, the structural differentiation of the lithium battery industry is highlighted: low-end homogeneous production capacity continues to be cleared, and high-quality production capacity with technical strength, integrated supporting facilities, and order support is in short supply. The entire industry chain has entered a rational expansion stage constrained by quality, orders, and long-term evidence. (China Securities Journal)