证券日报网讯 2月26日，远航精密发布公告称，公司2025年实现营业收入1042915250.90元，同比增长 22.38%；归属于上市公司股东的净利润55514254.22元，同比下降17.69%。 （文章来源：证券日报） ...

远航精密公告，预计2025年实现营业收入10.43亿元，同比增长22.38%；归属于上市公司股东的净利润 5551.43万元，同比下降17.69%；归属于上市公司股东的扣除非经常性损益的净利润5389.76万元，同比 下降1.19%；基本每股收益0.56元，同比下降17.65%。 ...

Investment Rating - The report suggests a positive investment outlook for the solid-state battery industry, highlighting key players and sectors to focus on [2][11]. Core Insights - The solid-state battery industry is entering a critical phase in 2026, with significant advancements expected in the production of battery packs and vehicle testing [2][14]. - Solid-state batteries are particularly suited for space applications due to their wide temperature range, high energy density, and safety features [27][32]. - The report emphasizes the importance of policy support and technological advancements in driving the commercialization of solid-state batteries [11][24]. Summary by Sections Part 1: Transition from Cell to Pack - The focus is shifting from cell production to pack development, with significant attention on vehicle testing progress [5][14]. - The timeline indicates that 2025 will see the rollout of vehicle-grade cells, while 2026 will focus on pack production and testing [11][12]. Part 2: Adaptation to Space Environment - Solid-state batteries are designed to operate in extreme conditions, making them ideal for space applications [27][32]. - The demand for solid-state batteries in the space sector could reach tens to hundreds of GWh annually as technology matures [32][29]. Part 3: Equipment and Material Dynamics - The equipment sector is expected to benefit first from the expansion of solid-state battery production, with a focus on key players in the equipment supply chain [37][41]. - The materials sector is becoming increasingly competitive, with various players working on cost reduction and efficiency improvements [60][62]. Part 4: Investment Recommendations - The report recommends focusing on leading battery manufacturers, equipment suppliers, and material producers, highlighting specific companies for investment [2][11]. - Key players include CATL, Gotion High-Tech, and others in the battery production and equipment sectors [2][11].

Core Viewpoint - The company Yuanhang Precision has reached a strategic investment agreement with Yili Technology to expand their business in the new energy materials sector, particularly focusing on battery cathode materials [4]. Group 1: Company Overview - Yuanhang Precision (920914) is a leading enterprise in the domestic nickel-based conductor materials sector, with nearly 30 years of industry experience, covering areas such as new energy, energy storage, and hydrogen energy [3]. - Yili Technology, established in 2022 and located in Wuxi, is a subsidiary of Tianhua New Energy (300390), holding a 55.63% stake [3]. Group 2: Technological and Production Capabilities - Yili Technology's core technology team collaborates with research institutions like the Institute of Physics, Chinese Academy of Sciences, focusing on the R&D and industrialization of solid-state battery cathode materials [3]. - The company has developed multiple core technologies in high-nickel ternary and high-voltage cobalt acid lithium materials and has signed strategic cooperation agreements with leading solid-state battery companies [3]. - Yili Technology has a pilot production line with a capacity of 200 tons per year, currently operating at full capacity, and is constructing a fully automated production line for high-nickel ternary cathode materials with an annual capacity of 5,200 tons, expected to be operational by the end of 2026 [3]. Group 3: Investment and Strategic Importance - The investment agreement with Yili Technology is seen as a precise layout for Yuanhang Precision in the battery cathode materials field, marking a significant step in deepening its industrial strategy and expanding its investment landscape [4].

Core Viewpoint - Recently, Yuanhang Precision (920914.BJ) announced a strategic investment and deep cooperation with Jiangsu Yili Technology Co., Ltd. to explore opportunities in the new energy materials sector [1][2] Group 1: Company Overview - Yuanhang Precision has been a leader in the domestic nickel-based conductor materials industry for nearly 30 years, excelling in technology research and development, production capacity, customer resources, and supply chain integration [2] - Yili Technology, a subsidiary of Suzhou-listed Tianhua New Energy, has a strong technical foundation and a comprehensive industrial layout, focusing on solid-state battery cathode materials [1] Group 2: Investment and Strategic Cooperation - The collaboration with Yili Technology represents a precise layout for Yuanhang Precision in the battery cathode materials sector and is a key step in deepening its industrial strategy and expanding its investment footprint [2] - Both companies aim to leverage their respective industrial advantages, integrate resources, and seize opportunities in the new energy lithium battery materials field, contributing to the high-quality development of the green low-carbon industry [2] Group 3: Technological Advancements - Yili Technology has developed multiple core technologies in high-nickel ternary and high-voltage lithium cobalt oxide cathode materials, supported by research teams from the Chinese Academy of Sciences and Tianmuhu Energy Storage Technology Research Institute [1] - The company has established a pilot line with a capacity of 200 tons per year, which is currently in trial operation, and is constructing a fully automated production line for high-nickel ternary cathode materials with an annual capacity of 5,200 tons, expected to be operational by the end of 2026 [1]

Investment Rating - The report indicates a positive outlook for the solid-state battery industry, highlighting significant growth potential and technological advancements [2]. Core Insights - The Chinese government has established the world's first national standard for solid-state batteries, emphasizing the need to accelerate breakthroughs in solid-state battery technology. The new standard categorizes batteries based on their ion transfer methods, excluding the previously mentioned "semi-solid batteries" [6][10]. - The demand for solid-state lithium batteries is projected to reach approximately 200 billion yuan by 2030, driven by their advantages in energy density, safety, and environmental impact compared to liquid lithium batteries [15][27]. - The solid-state battery industry is expected to see rapid growth, with global demand forecasted to reach 243.7 GWh by 2030, translating to a market space of nearly 200 billion yuan [25][27]. Market Dynamics - The report outlines that the solid-state battery supply chain is similar to that of liquid lithium batteries, encompassing upstream raw materials, basic materials (cathodes, anodes, electrolytes, current collectors, and auxiliary materials), and production equipment. The midstream involves cell packaging and battery module assembly, while downstream applications include electric vehicles, consumer electronics, and energy storage systems [6][10]. - The Ministry of Industry and Information Technology (MIIT) has emphasized the need to accelerate the development of solid-state batteries and advanced autonomous driving technologies [14]. Material Routes - The report identifies a short-term mainstream system for solid-state batteries consisting of high-nickel ternary cathodes, silicon-based anodes, sulfide electrolytes, and iron-based current collectors. Sulfide electrolytes are expected to dominate the market, with a projected market share of 65% in solid-state batteries by 2030 [28][33]. - The production of cathode materials in China is expected to exceed 5 million tons by 2026, while anode materials are projected to reach 288,000 tons in the same year [29][30]. Key Company Updates - Yuanhang Precision is developing precision components that may expand into the solid-state battery field, focusing on conductive connections and thermal protection [3]. - Better Energy has launched the Beian FLEX semi-solid and GUARD solid-state series, providing high-energy and high-safety material solutions for next-generation battery technologies [3]. - Liwang Co., in collaboration with Tsinghua University, is researching new high-performance lithium battery technologies to meet the needs of humanoid robots [3].

Core Viewpoint - The company, Yuanhang Precision, announced the receipt of an invention patent certificate from the National Intellectual Property Administration for a new type of copper-nickel composite material used in new energy batteries and its preparation method [2] Group 1 - The patent is granted to both the company and its wholly-owned subsidiary, Jiangsu Avatar Energy Technology Co., Ltd [2] - The invention focuses on a composite material that is significant for the development of new energy batteries [2]

Group 1 - The energy metals sector has seen an increase, with Huayou Cobalt rising over 5% [1] - Other companies such as Yuanhang Precision, Hanrui Cobalt, Tengyuan Cobalt, and Ganfeng Lithium also experienced gains [1]

Market Overview - The battery sector experienced a decline of 0.95% on the previous trading day, with Yuanhang Precision leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Stock Performance - Notable gainers in the battery sector included: - ST Taizong: closed at 2.88, up 7.06% with a trading volume of 1.2383 million shares and a turnover of 341 million yuan [1] - Anda Technology: closed at 7.76, up 6.30% with a trading volume of 668,200 shares and a turnover of 515 million yuan [1] - Tianhua New Energy: closed at 54.85, up 3.69% with a trading volume of 680,200 shares and a turnover of 3.758 billion yuan [1] - Major decliners included: - Yuanhang Precision: closed at 29.70, down 7.51% with a trading volume of 59,800 shares and a turnover of 182 million yuan [2] - Defu Technology: closed at 30.29, down 6.11% with a trading volume of 558,600 shares and a turnover of 172.7 million yuan [2] - Qiaocheng Ultrasonic: closed at 139.28, down 5.57% with a trading volume of 19,400 shares and a turnover of 277 million yuan [2] Capital Flow - The battery sector saw a net outflow of 3.902 billion yuan from institutional investors, while retail investors contributed a net inflow of 2.931 billion yuan [2][3] - Key stocks with significant capital flow included: - Enjie Technology: net outflow of 95.296 million yuan from institutional investors [3] - Huasheng Lithium Battery: net inflow of 90.944 million yuan from institutional investors [3] - Xingyuan Material: net inflow of 82.755 million yuan from institutional investors [3]

Group 1 - The core point of the article is that Yuanhang Precision announced that its wholly-owned subsidiary, Jiangsu Jintai Precision Technology Co., Ltd. (referred to as "Jintai Ke"), has been included in the second batch of high-tech enterprises recognized by the Jiangsu Provincial Recognition Agency for 2025 [2] - This recognition is a re-evaluation of Jintai Ke's "High-tech Enterprise Certificate" after its previous validity period expired [2]