Core Viewpoint - Ningde Times has achieved mass production of composite aluminum foil, applying it to some high-nickel ternary products, while composite copper foil still awaits commercialization [1][2] Group 1: Composite Materials - Composite current collectors enhance safety, energy density, and cost reduction advantages, with Ningde Times leading the development since a patent filing in 2017 [2] - The rise in copper prices may drive battery manufacturers to seek copper-saving solutions, focusing on cost reduction [2] Group 2: Technical Developments - The technical route for composite copper foil has narrowed, with PP-based films and a two-step method becoming the industry consensus [3] - PP is now the mainstream base film due to its high corrosion resistance, lower cost, and mature processing advantages, despite needing surface modification for better adhesion with copper layers [3] - The two-step method, combining magnetron sputtering and water electroplating, has emerged as the mainstream production process for composite copper foil [3] Group 3: Market Opportunities - Longyang Electronics is expanding into the HVLP5 copper foil market, leveraging its expertise in electromagnetic shielding materials and advanced coating technologies [4] - The global leader in HVLP copper foil, Mitsui Mining, anticipates a significant increase in sales, with plans to double production capacity by 2028 [4] Group 4: Investment Recommendations - Companies to watch in the composite current collector manufacturing segment include Baoming Technology, Putailai, Yinglian Co., and others [5] - In the upstream materials segment, Jiangnan New Materials and Tongfeng Electronics are recommended, while upstream equipment companies include Dongwei Technology and others [5]