Venture(US:VEMLY) Zheng Quan Shi Bao Wang·2025-12-14 12:47Core Viewpoint - Weilan New Energy, a solid-state battery unicorn, is preparing to go public on the ChiNext board with a valuation of 18.5 billion yuan, as disclosed by the China Securities Regulatory Commission [1][2]. Company Overview - Weilan New Energy was established in 2016 and is incubated by the Chinese Academy of Sciences, focusing on solid-state lithium-ion batteries. The company has a strong R&D, production, and sales framework and is recognized as a national-level "specialized and innovative" enterprise and a unicorn [3]. - The company is led by Yu Huigen, who controls 29.25% of the shares through direct and indirect holdings [1]. Product Offerings - Weilan's products are primarily used in three sectors: new energy vehicles, energy storage, and low-altitude economic power. Key products include: - 360Wh/kg high-energy density power cells, capable of over 1000 km range, with mass production for NIO by the end of 2023 [3]. - 280Ah ultra-safe energy storage cells, already in mass production for various energy storage projects [3]. - 320Wh/kg high-energy density low-altitude economic power cells, supplied to multiple domestic and international clients [3]. Recent Developments - At the recent Guangzhou International Auto Show, Weilan and BASF jointly launched a new generation of solid-state battery packs, marking a significant step in the industrialization of solid-state batteries in China [4]. - The collaboration with BASF aims to enhance safety and efficiency through innovative material applications, addressing key concerns in traditional battery technology [4][5]. Financing and Strategic Partnerships - Weilan recently completed a D+ round of financing, attracting strategic investments from various funds, including the Beijing Green Energy and Low Carbon Industry Investment Fund, which reflects strong market confidence in the solid-state battery sector [5][6]. - New shareholders include major players like Guangdong Energy Group, which has initiated comprehensive strategic cooperation in the energy storage field [6]. - Since its inception, Weilan has completed nine rounds of financing, with notable investors including Xiaomi, NIO, Geely, and Huawei [6].