电气设备行业专题研究：固态电池产业链梳理

Investment Rating - The report maintains an "Outperform" rating for the electrical equipment industry [10]. Core Insights - The solid-state battery industry is experiencing significant advancements, with various companies actively engaging in the development of solid-state electrolytes, electrodes, and related materials [19][23][29]. - Companies like Ganfeng Lithium are positioned strongly in the lithium metal anode sector, which is crucial for enhancing energy density in solid-state batteries [25][37]. - The demand for carbon nanotube conductive agents is expected to rise due to the insulating nature of solid-state electrolytes, leading to increased usage compared to traditional liquid lithium-ion batteries [29]. Summary by Sections 1. Solid Electrolytes, Electrolyte Membranes, and Raw Materials - Companies are focusing on solid electrolytes, raw materials, and membranes, with key players including Enjie and Sanxiang New Materials, which are involved in sulfide and oxide electrolytes [19][20][21]. - Ganfeng Lithium has made progress in producing high-purity lithium sulfide, which is essential for solid-state applications [20]. 2. Solid Cathode and Anode Materials - Silicon-carbon anodes are confirmed as the primary choice for solid-state batteries, with companies like Putailai and BTR leading in this area [23][24]. - Ganfeng Lithium is noted for its comprehensive lithium metal anode production capabilities, which are critical for solid-state battery technology [25][37]. 3. Solid Conductive Agents and Aluminum-Plastic Films - The solid-state battery sector is generating demand for aluminum-plastic films, with companies like Zijang Enterprises actively collaborating with solid-state battery manufacturers [29][30]. - The need for carbon nanotube conductive agents is increasing, with firms like Tianai Technology and Daoshi Technology positioned to benefit from this trend [29][30]. 4. Solid-State Battery Equipment - Companies such as Haimeixing and Liyuanheng are developing specialized equipment for solid-state battery production, with Haimeixing securing a significant order for a 2GWh production line [32][34]. - The report highlights the importance of dry process technology in solid-state battery manufacturing, with companies like Manns and Naconor making strides in this area [34]. 5. Investment Recommendations - The report suggests focusing on companies with established positions in the solid-state battery supply chain, including Ganfeng Lithium for lithium metal anodes and Longyang Technology for electrolyte membranes [37]. - Key recommendations include monitoring leading firms in silicon-carbon anodes and conductive agents, as well as equipment manufacturers with existing orders [37].