电力设备行业跟踪报告：固态电池负极的三问三答

Investment Rating - The industry investment rating is "Outperform the Market" [1] Core Viewpoints - The report emphasizes the importance of solid-state batteries, particularly focusing on lithium metal anodes, which can achieve higher energy density compared to traditional graphite anodes. The report highlights the various preparation methods for lithium metal and identifies the rolling method as the most promising for large-scale implementation [3][21][22]. - The report notes that the current valuation of the solid-state battery sector is 36x, with a positioning of approximately 76%, indicating potential for further growth due to recent breakthroughs in electrolyte performance and solid-solid interface contact [5][13]. - Key companies to watch include Tian Tie Technology, Ying Lian Co., and Zhong Yi Technology, which are making significant advancements in lithium metal products and related technologies [6][48]. Summary by Sections Valuation - The solid-state battery sector is currently valued at 36x, with a positioning of about 76%. Recent breakthroughs in electrolyte performance and solid-solid interface issues are expected to catalyze further growth in the sector [5][13]. Pain Points - Lithium metal anodes face several challenges, including lithium dendrite formation, the generation of "dead lithium," cycling life challenges, and volume expansion of lithium. Strategies to address these issues include modifying the anode current collector, lithium/copper integration, and exploring anode-free technologies [4][31][32][43]. Key Segments - The report identifies promising directions for lithium metal anodes, including the convergence of preparation paths, with a focus on rolling and vapor deposition methods. New technologies such as porous copper foils, lithium/copper integrated materials, and anode-free technologies are highlighted as areas of potential growth [47][48].