动力电池行业点评报告：半固态电池密集发布，商业化进程加速

Industry Investment Rating - The report maintains a "Recommend" rating for the industry [5] Core Viewpoints - Semi-solid-state batteries have made substantial progress, with commercialization accelerating [2] - Multiple companies have achieved significant advancements in the performance and mass production of solid-state batteries, which will effectively accelerate the industrialization process [2] - According to GGII, solid-state battery installations are expected to exceed 5GWh in 2024 [2] - Semi-solid-state batteries combine the advantages of liquid and solid-state batteries, offering superior performance, safety, and energy density [3] - High-nickel ternary and silicon-based anode materials are preferred for maximizing energy density in solid-state battery systems [3] - Solid-state batteries have broad application prospects in fields such as consumer electronics and aviation, in addition to new energy vehicles [3] - The commercialization of low-altitude economy is accelerating, and solid-state batteries are well-suited for this sector due to their high energy density, high power, and high safety features [4] - The breakthrough and large-scale application of solid-state battery technology are expected to accelerate the commercialization of the low-altitude economy [4] Investment Recommendations - Battery and automotive companies are accelerating their R&D in solid-state batteries, with industrialization speeding up [5] - Recommended semi-solid-state battery manufacturers: CATL, Guoxuan High-Tech, Blue Lithium, Penghui Energy, Zhuhai CosMX, Narada Power, and Farasis Energy [5] - Recommended companies in the oxide electrolyte sector: Shanghai Xiba and Jinlongyu [5] - Recommended upstream metal raw material suppliers for solid-state electrolytes: Sanxiang Advanced Materials [5] - Recommended high-nickel ternary cathode material companies: Easpring Material and Ronbay Technology [5] - Recommended silicon-carbon anode and related industrial chain companies: BTR New Material, Yuanli Chemical, and Cnano Technology [5] Related Research Reports - "Guoyuan Securities Industry Research - 2024 Energy Storage Strategy Report: The Energy Storage Market is Rising, and Technology Types are Diversifying" (2024.01.08) [6] - "Guoyuan Securities Industry Research - Lithium Battery 2024 Strategy Report: Clearing the Clouds, the Future is Bright" (2024.01.09) [6]