固态电池设备：新技术周期，价值量通胀

Investment Rating - The report indicates a positive outlook for the solid-state battery equipment industry, highlighting its potential to benefit from the expansion of the solid-state battery market [4][7]. Core Insights - Solid-state batteries are viewed as an ideal solution due to their high safety and performance characteristics, with significant advancements expected in the equipment sector that supports their production [7][16]. - The report emphasizes the importance of solid-state battery equipment as a foundational and critical component for the industry's development, suggesting that it possesses both spatial elasticity and certainty in industry trends [4][7]. Summary by Sections Front-end: Focus on Fiberization and Dry Roller Pressing - The main challenges in the front-end process include uniform mixing, stability of self-supporting membrane formation, efficiency of continuous manufacturing, and cost competitiveness with wet electrodes [8][23]. - Fiberization of binders is a common method for dry preparation of solid-state electrolyte membranes, which requires precise control of temperature and shear force [24][28]. - The dry electrode process faces challenges in membrane thickness control and high-speed preparation, with significant value elasticity in dry electrode and solid-state battery roller pressing equipment [8][32]. Mid-end: Focus on Stacking Machines, Frame Printing Machines, and Isostatic Pressing - The mid-end process includes slitting & die-cutting, frame printing, stacking, tab welding & packaging, and isostatic pressing [9][42]. - Stacking machines are expected to replace winding machines as the main assembly method for solid-state batteries, providing higher energy density and stability [9][42]. - Isostatic pressing technology enhances the contact effect between internal components of the battery cell, significantly improving the overall performance [50][55]. Back-end: Focus on High-Pressure Formation and Capacity - The back-end process has shifted from low-pressure to high-pressure formation, requiring high-pressure formation machines to activate solid-state battery performance [10][54]. - These machines are designed to adapt to the high voltage characteristics of solid-state batteries, improving formation efficiency and consistency while extending battery life [54][55].