干法电极设备专题：干法电极技术助力全固态电池加速突围

Investment Rating - The industry investment rating is "Outperform" [7] Core Insights - The report highlights the acceleration of solid-state battery development in China, with a target for small-scale production by 2027, supported by over 6 billion yuan in R&D subsidies for selected key enterprises [26][20] - Dry electrode technology is identified as an innovative manufacturing process that enhances the production of solid-state batteries, particularly those using sulfide electrolytes, by avoiding solvent-related issues [42][31] - The report emphasizes the significant advantages of dry electrode technology in terms of cost efficiency, performance improvement, structural stability, and adaptability to advanced battery manufacturing needs [40][42] Summary by Sections 1. Dry Electrode Technology and Solid-State Battery Development - Solid-state batteries, which use solid electrolytes instead of traditional liquid ones, are positioned as the next generation of battery technology due to their higher energy density and safety [20][18] - The Chinese government is actively supporting the development of solid-state batteries, with major companies like CATL and Huawei making significant advancements in sulfide solid-state battery technology [26][29] 2. Related Listed Companies 2.1 Nakanor (832522.BJ) - Nakanor is a leading domestic manufacturer of lithium battery rolling equipment, holding over 20% market share and has shown a compound annual growth rate (CAGR) of 113% in net profit from 2019 to 2023 [48][49] - The company is actively involved in the development of dry electrode equipment and has established strategic partnerships to accelerate the commercialization of this technology [52] 2.2 Manster (301325.SZ) - Manster specializes in precision coating technology and has expanded into new fields such as perovskite and semiconductor applications, achieving a CAGR of 59.8% in revenue from 2019 to 2023 [55][53] - The company has launched a dry film composite machine that can be used for solid electrolyte membrane preparation, enhancing conductivity and battery capacity [57] 2.3 XianDao Intelligent (300450.SZ) - XianDao Intelligent is a platform company in the new energy equipment sector, developing dry electrode equipment and collaborating with major solid-state battery manufacturers globally [63][60] - The company has delivered key dry electrode equipment for solid-state battery production [63] 2.4 Liyuanheng (688499.SH) - Liyuanheng is a leading equipment manufacturer in the lithium battery sector, providing various equipment for solid-state battery production and achieving significant domestic and international deliveries [66][64] - The company has developed dry electrode equipment and is actively engaging with leading enterprises to provide solutions for solid-state battery production [66]