Putailai(SH:603659) Zheng Quan Shi Bao·2025-11-14 17:37Core Viewpoint - Puxin plans to invest 760 million yuan in its subsidiary Sichuan Zhuoqin New Materials Technology Co., Ltd. to expand its coating membrane capacity, driven by strong market demand and existing production capabilities [1] Group 1: Project Overview - The total investment for the integrated coating membrane 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 membranes and 3 billion square meters for coating membranes [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 Competitive Landscape - 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 strong economies of scale, providing latecomers with significant advantages [2] Group 3: Company Performance and Strategy - Puxin has successfully advanced the localization of core production equipment for base membranes, achieving industry-leading single-line production efficiency [2] - In the first three quarters of 2025, the company expects to gradually release efficient base membrane capacity, with sales projected to exceed 1 billion square meters, representing a significant year-on-year growth [2] - The company reported a coated separator processing shipment volume of 7.38 billion square meters, a year-on-year increase of 56.8%, indicating strong market share growth [2][3]