创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），涨跌幅达20%，该指数从市 场中选取涉及清洁能源生产、存储及应用等业务的上市公司证券作为指数样本，重点关注具有技术创新 能力和高成长潜力的企业，行业配置上以太阳能、风能、电动汽车及相关设备制造为主，以反映新能源 及相关产业链上市公司证券的整体表现。 国泰海通指出，固态电池凭借高安全性、高能量密度等优势，将成为未来高性能电池重点发展方 向，在新能源汽车、消费电池、低空经济等领域具有广阔市场空间。当前产业分化出两条技术路线：氧 化物半固态路线因与现有设备兼容度高已实现量产装车，硫化物全固态路线虽潜力更大但产业化仍需较 长时间。设备端是产业化关键因素，需配套专用设备解决电极、电解质、封装等工艺调整，其中干法电 极设备（辊压机、干法一体机）、高精度叠片机、高压化成设备等新型设备需求明确。产业进展方面， 半固态电池已进入主流价格带（如名爵MG4），预计2027年全固态电池实现量产装车。政策驱动下 （如国家规划2025年电池系统达300Wh/kg），固态电池技术落地加速，设备企业有望率先受益。 注：如提及个股仅供参考，不代表投资建议。指数/基金短 ...

Core Viewpoint - The solid-state battery production equipment companies are experiencing a surge in orders, with total new and existing orders exceeding 30 billion yuan, reflecting a year-on-year increase of 70% to 80% [1] Group 1: Order Growth - Major equipment companies such as Xian Dao Intelligent, Hai Mu Xing, Ying He Technology, and Li Yuan Heng have reported significant order growth, with Xian Dao Intelligent's new orders reaching 12.4 billion yuan, a nearly 70% increase year-on-year [2] - Hai Mu Xing's new orders for the first half of 2025 amounted to approximately 4.42 billion yuan, showing a year-on-year growth of 117.5% [2] - Ying He Technology's contract liabilities reached a historical peak of 2.759 billion yuan, a quarter-on-quarter increase of 67% [2] Group 2: Technological Breakthroughs - The demand for solid-state battery production equipment is driven by technological advancements, including dry electrode processes and solid electrolyte composites [2] - Hai Mu Xing is the first in the industry to pursue dual technology routes of "silicon-carbon anode + sulfide electrolyte" [2] - Companies like Funeng Technology are making progress in solid-state battery testing, with plans to deliver 60Ah sulfide solid-state batteries to strategic partners by the end of the year [2] Group 3: Industry Chain Collaboration - The industrialization of solid-state batteries relies on collaboration across the supply chain, with companies like Jiangxi Ganfeng Lithium Industry Group enhancing their capabilities in key materials [3] - Minmetals New Energy Materials reported a revenue of 2.904 billion yuan in the first half of the year, a year-on-year increase of 15.85%, focusing on solid-state battery material technology [3] - CATL expects small-scale production of solid-state batteries by 2027, with plans for large-scale applications by 2030 [3] Group 4: Market Expansion - The expansion of downstream applications is opening new market opportunities, particularly in the electric vehicle sector, where NIO allocated a significant portion of its R&D budget to semi-solid battery production lines [4] - The low-altitude economy is also seeing advancements, with companies like EHang adopting high-energy-density cylindrical cells developed by Guoxuan High-Tech [4] - The solid-state battery industry is approaching a critical point for large-scale production, with ongoing technological breakthroughs and improved supply chain collaboration [4]

Summary of Solid-State Battery Industry Conference Call Industry Overview - The conference focused on the solid-state battery industry, discussing challenges, advancements, and future directions in technology and production [1][3][8]. Key Points and Arguments 1. **Energy Density and Cycle Life Requirements**: The Ministry of Industry and Information Technology (MIIT) has set clear requirements for solid-state batteries, mandating an energy density of over 400 Wh/kg and a cycle life of 1,000 to 1,240 cycles, posing challenges for most companies [1][4]. 2. **Current Production Capabilities**: Current small-scale and pilot production lines achieve an average energy density of approximately 360 Wh/kg and a cycle life of around 800 cycles, but require pressures above 100 MPa, complicating mass production [1][6]. 3. **Future Subsidy Plans**: MIIT is discussing a second phase of development for the solid-state battery industry, potentially involving subsidies exceeding 100 billion yuan, with verification expected by 2027 [1][8]. 4. **Production Capacity Projections**: Overall production capacity for solid-state batteries is expected to remain below 100 MWh by 2027, with gigawatt-level capacity not anticipated until 2028-2029, and terawatt-level capacity expected only after 2030 [1][10]. 5. **Technology Routes**: The future technology direction for solid-state batteries may focus on sulfide and polymer composite materials, although sulfides face safety and patent issues, while oxides and polymers may become mainstream [1][9]. 6. **Investment in Production Lines**: Companies like Honda have invested approximately 2 billion yuan in sulfide solid-state battery production lines, indicating significant financial commitment to advancing technology [12]. 7. **Equipment and Production Challenges**: Solid-state battery production requires specialized equipment, which is more expensive than traditional equipment, leading to increased overall production costs [11][22]. 8. **Control Systems Complexity**: The complexity of control systems in solid-state battery production is a significant challenge, involving various media like water, oil, and gases under high pressure [22][24]. 9. **Market Dynamics**: The market is seeing a shift where traditional automakers are entering the battery supply chain, but there are concerns about their ability to master the technology, suggesting a potential return to specialization in battery production [29][30]. Additional Important Insights - **Pressure and Heating Parameters**: Investors should focus on total pressure and heating/pressing times as critical parameters affecting production efficiency and battery performance [21]. - **Domestic vs. International Technology**: There is a 4 to 5-year gap between Chinese solid-state battery technology and that of Japan, but with government support and market dynamics, this gap may close [30]. - **Consumer Acceptance**: High consumer acceptance of new technologies in China provides companies with more opportunities for trial and error, aiding in the acceleration of industry development [31]. This summary encapsulates the critical discussions and insights from the conference call regarding the solid-state battery industry, highlighting both the challenges and opportunities ahead.

Market Overview - The A-share market experienced fluctuations on September 3, with the Shanghai Composite Index briefly falling below 3,800 points, while the ChiNext Index turned positive due to the support of certain large-cap technology stocks [1] - Overall market sentiment is cautious, but structural opportunities still exist [2] Market Adjustment Reasons - Recent adjustments in the market are attributed to the rapid rise driven by large-cap technology leaders, leading to a high volatility phase and accelerated sector rotation [3] - The significant gains over the past months have led to profit-taking by investors, resulting in a regression to the mean [3] Key Issues Facing A-share Market - The three core issues currently facing the A-share market include the transfer of deposits, regulatory attitudes, and investor expectations regarding policies [4] - There is a theoretical excess of 6 trillion to 7 trillion RMB in term deposits available for reallocation, but large-scale inflows into the stock market depend on sustained market momentum and improvements in fundamentals [4] - Regulatory bodies are committed to the long-term healthy development of the capital market, focusing on new rounds of reform and opening up, which will provide appropriate incentives for long-term investment [4] - Investors are looking for potential policy catalysts and sustainable measures to boost domestic demand [4] Solid-State Battery Industry - The solid-state battery sector is identified as one of the most promising and explosive growth areas in the market, with several stocks experiencing limit-up gains [5] - The industrialization process of solid-state batteries is accelerating, with clear trends emerging [6] - Key milestones include the establishment of pilot lines in 2025, mass production breakthroughs in 2026, and the start of demonstrative operations in 2027 [7] Investment Opportunities in Solid-State Batteries - Companies that strategically position themselves in solid-state batteries and key materials and equipment are expected to have significant growth potential [8] - Different technological routes for solid-state batteries are primarily distinguished by the type of solid electrolyte used, including polymer, oxide, and sulfide electrolytes [9][10] Company Developments in Solid-State Battery Technology - Major companies like CATL, BYD, and others are focusing on sulfide technology routes for solid-state batteries, aiming for mass production by 2027 [11][12] - Sulfide electrolytes are recognized for their high ionic conductivity and compatibility with electrodes, leading industry leaders to shift focus from oxide/polymer routes to sulfide [13] Material Demand in Solid-State Battery Production - The demand for solid-state battery materials is expected to increase significantly, with the largest changes anticipated in solid electrolytes, anodes, and cathodes [17] - Companies are ramping up production capabilities for key materials such as lithium sulfide and other components essential for solid-state batteries [18]

A股市场在连续冲高后休整，多只热门高位股回落，拖累三大股指集体回撤。 截至收盘，沪指跌1.16%；深证成指跌0.65%；创业板指涨0.95%。沪深两市成交额23641亿，较昨日大幅缩量5109亿。 市场缩量调整，前期低位板块切换上涨，行业仅光伏、储能、固态电池板块表现强势，阳光电源涨超15%，宁德时代、亿纬锂能、国轩高科纷纷上涨。固 态含量超四成的电池ETF(561910)今日大涨4.01%，居同标的第一。 新的主线，在哪？ 01 利好频频袭来 9月3日，A股固态电池概念股集体拉升，海博思创、泰科科技20cm，亿纬锂能一度大涨超14%；鹿山新材、道氏技术涨近10%，国轩高科也涨近5%。 | 序号 | 代码 | 名称 | | 涨跌幅 √ | 总市值 | | --- | --- | --- | --- | --- | --- | | 1 | 688411 | 海博罗创 | | 20.00% | 266.68亿 | | 2 | 300801 | 泰和科技 | | 19.99% | 65.94亿 | | 3 | 300014 | 亿纬锂能 | | 12.08% | 1309.47亿 | | র্ণ | 603051 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 亿纬锂能固态电池成都量产基地揭牌, 全固态电池商业化迈出关键一步 亿纬锂能 2025年09月03日 09:54 广东 Q 9人 ☆星标 截至9月3日收盘，北交所上市公司宏裕包材（837174）拿下连续第三个30cm涨停板。当天，亿纬锂能 （维权）（300014）以12.08%的涨幅收于64.01元/股。再看国轩高科（002074），最近4个交易日累计 涨幅达到了26.82%。记者梳理发现，固态电池或是这些公司的共同关键词。 亿纬锂能(300014) < w 闭市 09-03 15:30:21 融 通 64.01 额 88.07亿 股本 20.46亿 市盈 37.0 万得 盘口 6.90 12.08% 换 7.44% 市值1 1309亿 市净 3.40 亿纬转债 143.4000 +8.1420 +6.02% 转股溢价 +14.01% 分时 五日 日K 周K 月K 月K 更多 ◎ 叠加 设均线 MA5:57.54↑ 10:53.78↑ 20:50.00↑ 前复权 67.33 65.56 -- 54.48 43.40 41.63 CHECK ...

| 序号 | 代码 | 名标 | 0 | | 涨幅% ↑ | 涨跌 | 成少量 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 300801 | 泰和科技 | 1 | 30.19 | 19.99 | 5.03 | 35.95 万 | | 2 | 688411 | 適量留到 | 1 | 147.92 | 19.87 | 24.52 | 3.84万 | | 3 | 839719 | 宁新新材 | | 18.84 | 12.95 | 2.16 | 20.35 万 | | র্ব | 300014 | 亿纬锂能 | 1 | 63.98 | 12.03 | 6.87 | 124万 | | 5 | 300409 | 道氏技术 | 1 | 23.52 | 11.15 | 2.36 | 144万 | | 6 | 603051 | 鹿山新材 | 1 | 25.61 | 10.01 | 2.33 | 9.53万 | | 7 | 688063 | 派能科技 | 1 | 58.40 | 7.25 | 3.95 | 16.64万 | | 8 | 300035 | 中科 ...

Core Insights - The company is driving technological innovation and key breakthroughs through a dual approach of "material science + digital science" [1] - The industrialization progress of solid-state batteries is steadily advancing, with the first full solid-state pilot line officially connected [1] - The current trial production stage of the Jinshi solid-state battery has achieved a yield rate of 90% [1] - The design work for the first generation of solid-state battery 2GWh production line has officially commenced [1]

超级赛道突传大消息。 今日A股盘中，固态电池概念股逆势走强，泰和科技强势录得20%涨停，亿纬锂能一度大涨超14%。消息面上，亿纬锂能今日发布消息称，9月2 日，亿纬锂能固态电池研究院成都量产基地正式揭牌，"龙泉二号"全固态电池成功下线。 有券商机构分析称，随着电池技术的成熟以及产业链配套的完善，固态相关新产品有望陆续发布、产能建设不断落地、终端性能预计持续获得验 证，固态电池的产业化进程加速。 集体拉升 9月3日，A股固态电池概念股集体拉升，亿纬锂能一度大涨超14%，截至午间收盘，涨幅达11.05%，泰和科技斩获20cm涨停，海博思创大涨超 13%，宁新新材涨超12%，德瑞锂电、道氏技术涨超6%，赢合科技、联得装备、美利信涨超5%，派能科技涨超4%，国轩高科、德新科技涨超3%。 9月3日，亿纬锂能微信公众号发布消息称，9月2日，亿纬锂能固态电池研究院成都量产基地正式揭牌，"龙泉二号"全固态电池成功下线。 亿纬锂能中央研究院院长赵瑞瑞介绍，成都基地总面积约11000平方米，全面投产后年产能近50万颗电芯。基地分两期建设，一期将于2025年12月 建成，具备60Ah电池制造能力；二期计划于2026年12月实现10 ...

Financial Performance - The company achieved a revenue of 193.94 million CNY in the first half of 2025, representing a year-on-year growth of 15.48% [2] - The net profit attributable to shareholders reached 36.7 million CNY, with a year-on-year increase of 35.22% [2][3] - The net cash flow from operating activities increased by over 80% year-on-year [2][9] Market Position - The company's market share in domestic power battery installations rose to 5.18%, ranking fourth in the industry [2] - In the energy storage sector, the company ranked seventh globally in terms of battery shipments [2] Product Development - The company is advancing its all-solid-state battery technology, with a pilot production line achieving a yield rate of 90% [4] - In the first half of 2025, the company shipped approximately 40 GWh of products, marking a year-on-year growth of over 48% [5] Inventory and Production - The increase in inventory is attributed to strong market demand and a strategy to maintain a reasonable safety stock [6] - The company plans to establish new battery production bases in Jiangsu and Wuhu, targeting a total capacity of 40 GWh to meet growing order demands [7] Research and Development - R&D investment for the first half of 2025 was 1.382 billion CNY, a year-on-year increase of 13.34% [12] International Expansion - The company has established deep partnerships with international clients, with overseas revenue reaching 6.4 billion CNY, accounting for 33% of total revenue, an increase of 1.9 percentage points from the end of 2024 [14] New Products and Technologies - The company has launched several new products, including the LMFP-based L600 battery and the "Jinshi" all-solid-state battery [17]