2035年前应该是一个重要的时间点，全固态电池可能在汽车、无人机等更广泛的民用场景中达到相对成 熟状态，让普通消费者都受益。 这便是李子坤与贝特瑞的缘分起点。 2011年，还在香港浸会大学物理系攻读博士学位的李子坤，凭借在快离子导体的专业研究，敏锐察觉到 锂离子电池在新能源汽车的发展机遇，决定毕业后往锂电方向靠一靠。 "2011年之前，锂电池在数码领域的应用已经非常成熟了，比如MP3、MP4、相机、手机等装载锂电池 很常见，但这些数码产品体积都很小。那个时候，新能源汽车的概念已经有了，把锂电池装载在汽车里 已经有一些应用示范。我觉得这个市场的发展会很快，市场空间非常大，并且汽车对电池性能的要求和 数码不一样，电池技术也存在很大的上升空间。"李子坤对21世纪经济报道记者说道。 前一年(2010年)，贝特瑞超越日本材料厂商，首次成为全球负极材料出货量第一的企业，这给李子坤留 下了非常深刻的印象。 在接到黄友元抛出的橄榄枝后，李子坤几乎没有犹豫，"来了之后我发现贝特瑞对于材料研发下足了血 本，当时整个实验室投资就有一个亿。进来之后，我跟大家讨论最多的就是怎样把这些材料设计好，这 一点也非常打动我。" 十四年前，贝特 ...

Core Viewpoint - The solid-state battery sector in the A-share market is experiencing a significant surge, driven by advancements in technology and promising applications in electric vehicles and low-altitude economy sectors [1]. Group 1: Market Performance - Jiangte Electric and Fengshan Group reached their daily limit up, while Dongsheng Technology saw an increase of nearly 8% [1]. - Other companies such as Better Ray, Shangtai Technology, and Xingyuan Materials also experienced gains [1]. - The market capitalization and year-to-date performance of key companies in the sector are as follows: - Jiangte Electric: Market Cap 18.3 billion, YTD Gain 44.80% - Fengshan Group: Market Cap 2.857 billion, YTD Gain 91.15% - Dongsheng Technology: Market Cap 37.5 billion, YTD Gain 72.13% - Better Ray: Market Cap 35 billion, YTD Gain 61.11% - Shangtai Technology: Market Cap 21.4 billion, YTD Gain 21.64% [2]. Group 2: Technological Advancements - Chinese scientists have recently made significant progress in solid-state battery technology, overcoming critical challenges in all-solid-state lithium batteries [1]. - The performance of solid-state batteries has seen a leap forward, with the potential to double the range from 500 kilometers to over 1000 kilometers for a 100-kilogram battery [1].

9月30日，北交所个股合计成交量6.79亿股，成交额161.42亿元，成交额相对上一交易日减少7.93亿元， 个股来看，收盘上涨的共108只。 证券时报·数据宝统计显示，今日可交易北交所个股中，收盘股价上涨的有108只，占可交易个股的 39.13%，收盘涨幅居前的有*ST云创、同力股份、七丰精工，分别上涨13.11%、5.79%、4.85%。收盘股 价下跌的有162只，跌幅居前的有锦华新材、路桥信息、五新隧装等，分别下跌12.23%、6.55%、 5.91%。 成交方面，全天成交额超亿元的股票共有40只，成交额居前的北交所股票有锦华新材、贝特瑞、五新隧 装等，成交额分别为7.65亿元、4.69亿元、4.05亿元。 股票活跃度来看，今日可交易的北交所个股中，换手率超10%的有10只，其中，1股换手率超20%，换 手率在5%~10%之间的有28只，换手率在1%~5%之间的有220只。全天换手率居前的股票有锦华新材、 灵鸽科技、天宏锂电等，换手率分别为49.77%、17.52%、16.39%。（数据宝） 北交所个股今日成交明细 | 代码 | 简称 | 收盘价（元） | 涨跌幅（%） | 换手率（%） | 成交额（万 ...

证券时报·数据宝统计显示，今日可交易北交所个股中，收盘股价上涨的有166只，占可交易个股的 60.14%，收盘涨幅居前的有国源科技、灵鸽科技、力王股份，分别上涨14.41%、14.39%、9.23%。收盘 股价下跌的有106只，跌幅居前的有*ST云创、恒合股份、佳合科技等，分别下跌5.65%、5.61%、 5.12%。 成交方面，全天成交额超亿元的股票共有38只，成交额居前的北交所股票有锦华新材、贝特瑞、天宏锂 电等，成交额分别为9.00亿元、5.34亿元、4.70亿元。 股票活跃度来看，今日可交易的北交所个股中，换手率超10%的有9只，其中，2股换手率超20%，换手 率在5%~10%之间的有34只，换手率在1%~5%之间的有217只。全天换手率居前的股票有锦华新材、世 昌股份、天宏锂电等，换手率分别为53.44%、22.04%、19.38%。（数据宝） 北交所个股今日成交明细 | 代码 | 简称 | 收盘价（元） | 涨跌幅（%） | 换手率（%） | 成交额（万元） | | --- | --- | --- | --- | --- | --- | | 920015 | 锦华新材 | 53.00 | -3.5 ...

（原标题：北交所股票成交概况：40股上涨，235股下跌） 9月25日，北交所个股合计成交量8.81亿股，成交额209.25亿元，成交额相对上一交易日减少8.95亿元， 个股来看，收盘上涨的共40只。 证券时报•数据宝统计显示，今日可交易北交所个股中，收盘股价上涨的有40只，占可交易个股的 14.49%，收盘涨幅居前的有锦华新材、锦好医疗、海达尔，分别上涨133.00%、19.04%、8.30%。收盘 股价下跌的有235只，跌幅居前的有大地电气、安徽凤凰、新安洁等，分别下跌9.67%、8.31%、 7.89%。 今日上市的锦华新材(920015)上涨133.00%，全天换手率91.23%，成交额113222.82万元。 成交方面，全天成交额超亿元的股票共有56只，成交额居前的北交所股票有锦华新材、贝特瑞、创远信 科等，成交额分别为11.32亿元、5.10亿元、5.02亿元。 | 837092 | 汉鑫科技 | 38.75 | -0.62 | 2.52 | 3164.69 | | --- | --- | --- | --- | --- | --- | | 830779 | 武汉蓝电 | 41.52 | -1.59 ...

Overview - The trend of public funds increasing their allocation to the Beijing Stock Exchange (BSE) continues, with significant entry of active equity public funds. As of H1 2025, the market value allocated by public funds to the BSE reached 22.383 billion, with an allocation ratio of 0.37%, up by 0.15 percentage points quarter-on-quarter. The allocation coefficient reached 0.59, an increase of 0.07. Public funds have continuously increased their allocation to the BSE for three consecutive half-year periods since H1 2024. Among them, the proportion of active equity public funds allocated to the BSE reached 0.46%, up by 0.26 percentage points quarter-on-quarter, with an allocation coefficient of 0.74, an increase of 0.24 [7][24][47]. Active Equity - Active equity public funds significantly increased their allocation to the BSE, with a total market value of 11.22 billion as of H1 2025, a substantial increase of 116% compared to H2 2024. The BSE's thematic products also saw a market value of 3.9 billion, up by 54% quarter-on-quarter, primarily due to net value growth and the opening of subscriptions for the "Taikang BSE Selected Two-Year Open" fund [24][25][28]. Index Investment - The scale of index investment in the BSE is steadily expanding. As of H1 2025, the market value held by BSE index funds reached 11.08 billion, an increase of 48% quarter-on-quarter. The BSE 50 index fund accounted for 10.5 billion, up by 46%, while other index funds reached 580 million, up by 90%. The scale of passive index funds was 10.02 billion, up by 42%, and the scale of index-enhanced funds reached 1.06 billion, up by 162% [47][48]. Allocation - The institutionalization trend is accelerating, with a focus on growth sectors. As of H1 2025, the concentration of active equity public fund allocations has increased, with key stocks like Jinbo Bio, Naconoer, and Tongli Co. accounting for about half of the total market value held. The report emphasizes the importance of sectors with sustained growth potential, such as Jinbo Bio and Minshida [24][38][39].

Overview - The trend of public funds increasing their allocation to the Beijing Stock Exchange (BSE) continues, with active equity public funds significantly entering the market. As of H1 2025, the market value allocated by public funds to the BSE reached 22.383 billion yuan, with an allocation ratio of 0.37%, up by 0.15 percentage points quarter-on-quarter. The allocation coefficient reached 0.59, an increase of 0.07. Public funds have continuously increased their allocation to the BSE for three and a half consecutive half-years since H1 2024 [10][12]. Active Equity - Active equity public funds have significantly increased their allocation to the BSE. As of H1 2025, the total market value held by active equity funds in the BSE reached 11.22 billion yuan, a substantial increase of 116% compared to H2 2024 [29][30]. - The BSE theme products held a market value of 3.9 billion yuan as of H1 2025, up by 54% quarter-on-quarter, primarily due to net value growth and the opening of subscriptions for the "Taikang BSE Selected Two-Year Open Fund" [30][34]. - The average net value growth rate of BSE theme funds was 69.9% from the beginning of 2025 to September 10, 2025, significantly outperforming the BSE 50 index by 14.8% [30][34]. Index Investment - The scale of index investment in the BSE is steadily expanding. As of H1 2025, the market value held by BSE index funds reached 11.08 billion yuan, an increase of 48% quarter-on-quarter. The BSE 50 index fund accounted for 10.5 billion yuan of this, up by 46% [54][55]. - The number of BSE 50 index products has increased, with 28 products established as of now, including two newly established products in Q3 2025 [54][55]. Allocation - The trend of institutionalization in the BSE is accelerating, with a focus on growth sectors. As of H1 2025, the public fund holding ratio for the BSE 50 reached 8.8%, up by 1.8 percentage points quarter-on-quarter. The active equity holding ratio was 3.9%, an increase of 2.0 percentage points [19][20]. - The concentration of active equity public fund allocations has increased, with key stocks like Jinbo Bio, Nacono, and Tongli Co. accounting for about half of the total market value held [40][44].

Trading Volume and Market Activity - On September 23, the total trading volume of stocks on the Beijing Stock Exchange reached 1.079 billion shares, with a total transaction value of 24.406 billion yuan, an increase of 3.189 billion yuan compared to the previous trading day [1] - Among the tradable stocks, 19 stocks closed higher, accounting for 6.91% of the total, with notable gainers including Chuangyuan Xinke, Jiezong Technology, and Wuxin Tunnel Equipment, which rose by 12.39%, 6.26%, and 6.03% respectively [1] - Conversely, 255 stocks closed lower, with the largest declines seen in Kangle Weishi, Kait Technology, and Zhixin Electronics, which fell by 11.76%, 8.67%, and 8.64% respectively [1] Stock Performance and Turnover Rates - A total of 69 stocks had transaction values exceeding 10 million yuan, with the highest transaction values recorded for Chuangyuan Xinke (0.895 billion yuan), Better Ray (0.707 billion yuan), and Air China Ocean (0.440 billion yuan) [1] - The trading activity indicated that 18 stocks had a turnover rate exceeding 10%, with 2 stocks exceeding 20%. Additionally, 89 stocks had turnover rates between 5% and 10%, while 166 stocks had turnover rates between 1% and 5% [1] - The stocks with the highest turnover rates included Shichang Co., Chuangyuan Xinke, and Zhixin Electronics, with turnover rates of 34.61%, 27.10%, and 19.21% respectively [1] Detailed Stock Data - The closing prices and performance of notable stocks included: - Chuangyuan Xinke: Closing price of 29.48 yuan, up 12.39%, turnover rate of 27.10%, transaction value of 894.54 million yuan [1] - Better Ray: Closing price of 32.55 yuan, up 3.60%, turnover rate of 1.98%, transaction value of 707.30 million yuan [1] - Air China Ocean: Closing price of 10.76 yuan, up 2.97%, turnover rate of 14.28%, transaction value of 440.17 million yuan [1] - Other stocks with significant declines included: - Kangle Weishi: Closing price of 12.98 yuan, down 11.76%, turnover rate of 9.03%, transaction value of 226.22 million yuan [1] - Kait Technology: Closing price of 42.15 yuan, down 8.67%, turnover rate of 8.50%, transaction value of 373.05 million yuan [1] - Zhixin Electronics: Closing price of 17.02 yuan, down 8.64%, turnover rate of 19.21%, transaction value of 169.32 million yuan [2]

Summary of Key Points Core Viewpoint - In the past month, 64 companies listed on the Beijing Stock Exchange (BSE) have been investigated by institutions, with Audiwei being the most notable, receiving attention from 65 institutions [1]. Group 1: Institutional Research - A total of 64 companies on the BSE were subject to institutional research, with the types of institutions including 64 brokerages, 48 funds, 42 private equity firms, 25 insurance companies, and 5 overseas institutions [1]. - Audiwei led the attention with 65 participating institutions, followed by Haidaer (64), Yuanhang Precision (59), and Tongli Co. (55) [1]. - The companies investigated belong to 18 different industries, with a concentration in machinery equipment (14 companies), basic chemicals (8 companies), and electronics (8 companies) [1]. Group 2: Market Performance - The average stock price of the companies that received institutional research fell by 4.98% over the past month, with 17 companies experiencing price increases [2]. - The top gainers included Better Ray (41.71%), Kaita Co. (40.13%), and Jiezong Technology (21.49%) [2]. - The average market capitalization of all companies on the BSE is 3.197 billion yuan, while the average market capitalization of the companies that were researched is 4.547 billion yuan [2]. Group 3: Trading Activity - The average daily turnover rate for the researched companies was 6.19%, with the highest turnover rates recorded for Gaisi Food (20.12%), Wuhan Land Electric (15.55%), and Jiyang Precision (12.57%) [2].

Group 1 - The National Energy Administration and other departments released guidelines to promote high-quality development of energy equipment, focusing on establishing a high-safety, high-reliability battery energy storage system and developing key equipment for long-life, wide-temperature, low-degradation lithium batteries, sodium batteries, and solid-state batteries [1] - According to China International Capital Corporation (CICC), solid-state batteries are entering the industrialization phase, with the equipment sector experiencing a critical transition from validation to mass production, leading to an increase in the value of production lines from 100-200 million to 200-300 million yuan [1] - In September, the retail market for narrow passenger vehicles is expected to reach approximately 2.15 million units, representing a month-on-month increase of 6.5% and a year-on-year increase of 2.0%, with new energy vehicle retail sales reaching around 1.25 million units and a penetration rate of 58.1% [1] Group 2 - As of September 23, 2025, the battery ETF (159755) surged nearly 3%, hitting a two-and-a-half-year high, with significant gains in constituent stocks such as Terui De and XWANDA [2] - The energy storage battery ETF (159305) also rose nearly 3%, reaching a record high since its launch, with a turnover rate approaching 10%, indicating strong investor interest [2] - The National Index for New Energy Battery focuses on the energy storage battery sector, while the National Index for New Energy Vehicle Batteries targets the automotive battery supply chain, highlighting the different segments within the battery industry [2] Group 3 - CITIC Securities noted that full solid-state battery testing is gradually commencing, with a dense schedule of road tests expected in 2025-2026, emphasizing the need to address issues related to battery volume expansion and cycle life degradation [3] - The report suggests focusing on the materials used in battery cells, including conductive agents, functional additives, solid electrolytes, and the manufacturing processes involved in battery cell production [3] Group 4 - The battery ETF (159755) closely tracks the National Index for New Energy Vehicle Batteries, selecting leading A-share companies involved in battery manufacturing, materials, management systems, and charging stations [4] - The energy storage battery ETF (159305) tracks the National Index for New Energy Batteries, covering a range of stocks with good liquidity and market capitalization, focusing on the investment value within the energy storage battery industry [4]