GGII：2024年Q1-Q3固态电池投融资分析

Industry Overview - The solid-state battery sector in China has gained significant market attention since 2021, with companies engaging in a financing competition that continues to heat up [1] - As of Q3 2024, there have been 75 financing deals completed by 24 companies in the solid-state battery field (including solid-state batteries, solid electrolytes, cathode materials, etc) [1] - The number of financing deals doubled in 2022 and 2023 compared to 2021, with 19 deals each year, while 14 deals were completed in the first three quarters of 2024, accounting for about 3/4 of 2023's total [1] Financing Analysis - Qingtao Energy leads in the number of financing rounds with 10, followed by Weilan New Energy (8 rounds) and Hui Neng Technology (7 rounds) [3] - Qingtao Energy has raised the highest amount of funding, exceeding 3 billion RMB, with the largest single investment being 2.7 billion RMB from SAIC Group in May 2023 [4] - Most companies in the solid-state battery sector are in the early stages of financing, with 53% in rounds from Angel to A++ and 18% from Pre-B to G+ [4] - In Q1-Q3 2024, 14 companies secured financing, with over 42% being startups (less than 3 years old) completing Angel rounds [4] Key Financing Events - Rouhe New Energy completed an Angel round in September 2024, raising tens of millions of RMB from investors including Juntong Capital and Huaqing Capital [5] - Da Lan New Energy secured a Series B round in August 2024, raising hundreds of millions of RMB from Changan Automobile and China Ordnance Equipment Group [5] - SoliTech completed an A round in August 2024, raising hundreds of millions of RMB from investors including Three Gorges Capital and CITIC Construction Investment Capital [5] Market Outlook - Despite the overall challenging capital market environment, the solid-state battery industry chain continues to attract significant attention from investors [5] - GGII predicts that both the number of financing projects and the total financing amount in the solid-state battery industry chain will surpass 2023 levels and reach new highs in 2024 [5]