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固态电池产业化持续推进 | 投研报告
Zhong Guo Neng Yuan Wang·2025-06-30 01:50

Group 1 - Solid-state battery industrialization is progressing, with QuantumScape successfully integrating the Cobra separator process into its standard production line, achieving a 25-fold increase in heat treatment speed and significantly reducing equipment footprint, marking a leap in manufacturing efficiency [1][3] - QuantumScape's stock price surged by 76.67% over two days following the announcement, indicating heightened market expectations for the commercialization of solid-state batteries [3] - The trend towards solid-state battery industrialization is clear, with a positive outlook on core process equipment such as dry process equipment, stacking machines, and isostatic pressing equipment [3] Group 2 - The tower crane rental industry is experiencing low demand, with the tower crane utilization rate at 56.8% in May 2025, down 1.6 percentage points year-on-year, and the maximum lifting moment utilization rate at 56.7%, down 2.8 percentage points [3] - The tower crane rental price index was 518.96 points in May, down 115 points compared to the same period last year, indicating continued downward pressure in the industry [3] - Overall, the tower crane industry remains sluggish, facing significant clearing pressure [3] Group 3 - The photovoltaic industry is facing downward pressure on main material prices, with a rapid decline in terminal demand, leading to further price drops for silicon wafers, battery cells, and modules [4] - In May, the total export value of inverters reached $831 million, a year-on-year increase of 6.52%, with an export volume of 5.8994 million units, up 26.18% year-on-year [4] - The Asian market showed strong performance, with 2.333 million inverters exported to Asia in May, a month-on-month increase of 36.36%, resulting in an export value of 2.263 billion yuan, up 19.45% month-on-month [4] - The outlook for the second half of the year indicates weak terminal demand and potential downward pressure on main material prices, while inverter demand in Asia remains relatively rigid [4]