Xin Lang Cai Jing·2025-09-23 02:56Group 1 - The National Energy Administration and other departments released guidelines to promote high-quality development of energy equipment, focusing on establishing a high-safety, high-reliability battery energy storage system and developing key equipment for long-life, wide-temperature, low-degradation lithium batteries, sodium batteries, and solid-state batteries [1] - According to China International Capital Corporation (CICC), solid-state batteries are entering the industrialization phase, with the equipment sector experiencing a critical transition from validation to mass production, leading to an increase in the value of production lines from 100-200 million to 200-300 million yuan [1] - In September, the retail market for narrow passenger vehicles is expected to reach approximately 2.15 million units, representing a month-on-month increase of 6.5% and a year-on-year increase of 2.0%, with new energy vehicle retail sales reaching around 1.25 million units and a penetration rate of 58.1% [1] Group 2 - As of September 23, 2025, the battery ETF (159755) surged nearly 3%, hitting a two-and-a-half-year high, with significant gains in constituent stocks such as Terui De and XWANDA [2] - The energy storage battery ETF (159305) also rose nearly 3%, reaching a record high since its launch, with a turnover rate approaching 10%, indicating strong investor interest [2] - The National Index for New Energy Battery focuses on the energy storage battery sector, while the National Index for New Energy Vehicle Batteries targets the automotive battery supply chain, highlighting the different segments within the battery industry [2] Group 3 - CITIC Securities noted that full solid-state battery testing is gradually commencing, with a dense schedule of road tests expected in 2025-2026, emphasizing the need to address issues related to battery volume expansion and cycle life degradation [3] - The report suggests focusing on the materials used in battery cells, including conductive agents, functional additives, solid electrolytes, and the manufacturing processes involved in battery cell production [3] Group 4 - The battery ETF (159755) closely tracks the National Index for New Energy Vehicle Batteries, selecting leading A-share companies involved in battery manufacturing, materials, management systems, and charging stations [4] - The energy storage battery ETF (159305) tracks the National Index for New Energy Batteries, covering a range of stocks with good liquidity and market capitalization, focusing on the investment value within the energy storage battery industry [4]