Putailai(SH:603659) Zheng Quan Shi Bao Wang·2025-11-14 11:11Core Viewpoint - Puxin plans to invest 760 million yuan in its subsidiary Sichuan Zhuoqin New Materials Technology Co., Ltd. to expand its capacity for coated separators, driven by strong market demand and existing production capabilities [1] Group 1: Project Details - The total investment for the integrated film coating project is 2.5 billion yuan, covering an area of approximately 68,500 square meters, with an expected annual production capacity of 2 billion square meters for base films and 3 billion square meters for coatings [1] - The project aims to enhance the company's integrated solutions for lithium battery separators, addressing the growing demand for high-performance, consistent, and stable coated separators in the power and energy storage battery markets [1] Group 2: Industry Demand and Competition - High-performance coated separators are essential for improving battery energy density, safety, and cycle life, with demand benefiting from the expansion of downstream markets [1] - The separator market is highly competitive, with ongoing production efficiency improvements due to equipment upgrades and a strong scale effect in the industry [2] Group 3: Company Performance and Strategy - Puxin has successfully advanced the localization of its base film production equipment, achieving industry-leading single-line production efficiency, with plans to gradually release high-efficiency base film capacity by the third quarter of 2025 [2] - In the first three quarters of 2025, the company expects to achieve a coated separator processing shipment volume of over 7.38 billion square meters, reflecting a year-on-year growth of 56.80% [2] - The company has established a closed-loop industrial chain encompassing base films, coating materials, adhesives, coating and base film equipment, and processing, providing a significant competitive advantage in terms of technology, efficiency, cost, and quality stability [3]