On November 2, a listed cathode materials company in Hunan forecast during its third-quarter earnings briefing that high-end lithium iron phosphate will remain in tight supply through 2027. That same day, a listed lithium-ion battery materials company in Guangdong also noted that the supply-demand balance for fourth-generation and higher lithium iron phosphate products is currently tight. Demand for fourth-generation products is expected to keep growing next year, yet production capacity capable of reliably supplying high-quality, high-compaction fourth-generation products remains limited—so supply will stay tight. Listed companies' capacity expansion in lithium iron phosphate has clearly shifted toward high-end, high-compaction routes: newly planned and newly commissioned lines are mostly built to fourth-generation or higher standards, and some lines are designed with compatibility reserved for fifth-generation materials.