GOTION(SZ:002074) 2 1 Shi Ji Jing Ji Bao Dao·2025-07-04 12:28Core Viewpoint - Solid-state batteries are gaining significant attention in the new energy industry, with notable stock performance from companies like Nord Shares and Guoxuan High-Tech, despite the technology still being in experimental or pilot stages [1][2]. Group 1: Industry Trends - The solid-state battery industry has seen unexpected advancements in the past six months, with companies like BYD and Guoxuan High-Tech achieving faster-than-expected progress in vehicle-grade battery cells [1][2]. - Guoxuan High-Tech's "Jinshi" solid-state battery production line has reached a throughput of 0.2 GWh and is currently undergoing vehicle road tests, leading to a nearly 30% stock price increase over three days [1][6]. - The transition to solid-state batteries is seen as a necessary evolution, as liquid lithium batteries approach their energy density limits, making solid-state technology a future trend [5][6]. Group 2: Company Developments - Guoxuan High-Tech, established in 2006, has shifted its focus to solid-state batteries to regain competitive advantage after missing the lithium-ion battery wave [3][5]. - The company has achieved a 150% increase in energy density for its 70Ah solid-state cell, reaching 350 Wh/kg, and aims for small-scale production by 2027 and mass production by 2030 [6][8]. - Guoxuan High-Tech is diversifying its customer base, moving from reliance on A-class vehicles to include B-class and higher models, which is expected to enhance profitability [2][9]. Group 3: Competitive Landscape - The competition in the power storage battery industry is intense, with Guoxuan High-Tech positioned as a second-tier player facing challenges from leaders like CATL [8][10]. - The company's revenue is projected to grow from 6.72 billion yuan in 2020 to 35.39 billion yuan in 2024, with a compound annual growth rate of 51.47% [8]. - Guoxuan High-Tech's market share in the global battery sector reached 3.3% in the first half of the year, marking a 0.8 percentage point increase from the previous year [8][9]. Group 4: Strategic Partnerships - Guoxuan High-Tech is collaborating with major automotive manufacturers, including a strategic partnership with Volkswagen, although there are uncertainties regarding the progress of this collaboration [10]. - The company is actively working on the validation process for standard battery cells in cooperation with Volkswagen, which is expected to align with Volkswagen's product roadmap [10].