At the 2025 World Energy Storage Conference, which took place today, Zeng Yuqun, the founder and chairman of CATL, highlighted in his speech the intense price competition plaguing the energy storage sector. He pointed out that over the past three years, the cost of energy storage systems has plummeted by roughly 80%. Notably, the winning bid for a recent centralized procurement project dipped below 0.4 yuan per watt-hour (Wh), a figure well beneath the actual production cost. Zeng Yuqun expressed concern that such cut-throat pricing would inevitably result in compromised product quality and specifications, thereby introducing significant quality and safety hazards to the industry. This year, he observed, the price war has extended its reach overseas, causing a sharp decline in the gross profit margins of energy storage companies. He emphasized that this kind of competitive behavior is not only unsustainable but also ultimately counterproductive.