国泰海通｜新能源：再读固态电池投资机会

Core Viewpoint - Sulfide solid electrolytes are expected to become the mainstream choice for all-solid-state batteries, with lithium sulfide as the core raw material, indicating a vast potential market space that has attracted numerous companies to invest in this area [1][2]. Summary by Relevant Sections Sulfide Solid-State Batteries - Sulfide solid-state batteries are seen as the core direction for future battery technology due to their high ionic conductivity, safety, and energy density advantages [1]. - Lithium sulfide is identified as the key raw material, with its market space expected to explode alongside the rise of all-solid-state batteries [1]. Preparation Methods for Lithium Sulfide - The mainstream preparation methods for lithium sulfide are categorized into three types: solid-phase method, liquid-phase method, and gas-phase method [2]. - The solid-phase method is suitable for large-scale production but has drawbacks such as high energy consumption and lower product purity [2]. - The liquid-phase method addresses some issues of the solid-phase method, offering higher purity and better results, but faces challenges in achieving stable batch production at scale [2]. - The gas-phase CVD method is suitable for producing high-purity and high-uniformity lithium sulfide [2]. - Overall, various preparation methods have their advantages and disadvantages, indicating a diverse and competitive landscape [2]. Industry Trends - Numerous companies are entering the lithium sulfide research and development space, leading to breakthroughs in process innovation, production line implementation, and performance validation [2]. - The industry is moving towards a phase of accelerated supply scale for lithium sulfide [2].