LEAD INTELLIGENT(SZ:300450) Xin Lang Cai Jing·2025-09-14 10:11Core Viewpoint - The article highlights the advancements in solid-state battery technology and the strategic positioning of companies like XianDao Intelligent in the lithium battery equipment sector, emphasizing their growth potential and market opportunities. Group 1: Industry Developments - Solid-state batteries are transitioning from laboratory experiments to mass production, with significant milestones achieved by companies like Yiwei Lithium Energy and Enjie Co., which have launched production lines for solid-state electrolytes [1][4]. - The market for solid-state battery intelligent equipment in China is projected to reach 11.7 billion by 2029, indicating rapid growth in this segment [4]. Group 2: Company Positioning - XianDao Intelligent is a leading provider of lithium battery intelligent equipment, with a projected revenue of 4.5 billion in the first half of 2025, accounting for approximately 70% of its total revenue [1][2]. - The company has established itself as the only global provider with complete proprietary intellectual property for lithium battery production solutions, covering all stages of the battery manufacturing process [8]. Group 3: Market Share and Orders - XianDao Intelligent holds a global market share of 15.5% and a domestic market share of 19% in the lithium battery equipment sector, significantly surpassing its competitors [9]. - The company secured new orders worth 12.4 billion in the first half of 2025, marking a year-on-year increase of approximately 70%, indicating strong demand and customer confidence [11][12]. Group 4: Financial Performance - In the first half of 2025, XianDao Intelligent reported revenues of 6.61 billion and a net profit of 740 million, representing year-on-year growth of about 15% and 61%, respectively [14]. - The company's operating cash flow improved significantly, with a notable increase of approximately 72% in the second quarter of 2025, reflecting better collection of receivables [14].