Dare Auto(SZ:300473) Chang Jiang Shang Bao·2025-06-04 19:10Core Viewpoint - Del's investment in new energy projects marks a significant shift towards the electric vehicle sector, focusing on solid-state battery technology and smart motor production [1][2]. Group 1: Investment and Expansion - Del signed a 300 million yuan investment agreement to establish new solid-state battery pilot and industrialization projects, as well as smart motor production lines [1]. - The total investment of 300 million yuan will focus on next-generation power battery technologies, particularly solid-state batteries, and will create a synergistic layout of "battery + electric drive" [1][3]. Group 2: Technological Advancements - Del has been developing solid-state battery technology since 2018, achieving an energy density of 260 Wh/kg and aims to reduce mass production costs by 40% through pilot line construction [1][3]. - The company has completed safety tests for its solid-state battery pilot line in Shanghai, targeting a significant share of the projected 614.1 GWh global solid-state battery market by 2030 [1]. Group 3: Financial Performance - In Q1 2025, Del achieved total revenue of 1.22 billion yuan, a year-on-year increase of 15.13%, and a net profit of 22.74 million yuan, up 276% year-on-year [2]. - The growth is driven by the booming electric vehicle sector, with its subsidiary contributing nearly 70% of revenue from battery-related products supplied to European and North American markets [2]. Group 4: Market Positioning - Del's global capacity layout positions it to capture opportunities in the multi-billion yuan market, leveraging its existing production networks in Europe, America, and Asia to meet the needs of international automakers [2]. - The company plans to raise funds through A-share private placements to expand solid electrolyte material production lines, aiming for an annual capacity of 10 GWh by 2027 [3].