Sichuan Guocheng Lithium Industry Co., Ltd.'s 200,000-ton lithium salt project is currently progressing with equipment hoisting, pipeline welding, and structural construction. It is scheduled for completion in February 2026, with trial production set to begin in April 2026. PriceSeek's analysis of lithium carbonate indicates a bearish score of -1. Sichuan Guocheng Lithium Industry's 200,000-ton lithium salt project, planned for commissioning in 2026, is expected to increase lithium carbonate supply, posing a bearish factor for market prices. The anticipation of supply expansion may exert downward pressure on spot prices, but as the project is still in the construction phase (with trial production scheduled for April 2026), its short-term impact remains limited. Considering lithium carbonate futures data (e.g., the closing price of the 2605 contract at 121,580 yuan/ton, up by +100 yuan, with open interest decreasing by 21,115 lots), the market may have partially absorbed the news of increased supply. The decline in open interest reflects cautious investor sentiment, exerting pressure on forward futures prices. The overall score is -1.0, indicating a generally bearish outlook due to the direct exacerbation of oversupply risks from the capacity expansion.