凌晨的实验室，天赐材料（002709）界面研究工程师陈工紧盯着监测屏上跳动的曲线——这是他连续第三晚值守，只为捕捉硫化物电解质与空气"隐秘的 反应"。 在天赐材料的研发中心，这样与时间赛跑的场景是常态。以天赐材料为代表的中国锂电企业正是在一次次反复实验中，找到了固态电池核心技术的突破 口。从液态到固态，从实验室到产线，中国锂电企业的突围之路，正是中国产业创新升级的一个缩影。 突破"不可能三角" "连续三年，固态电解质研发都享有独立预算池，这在公司历史上从未有过。"天赐材料相关人士告诉证券时报记者，公司投入的大量研发资金中，固态电 解质被列为最高优先级(S级)。 固态电池被视作下一代动力电池的解决方案，但它的核心部件固态电解质，却长期面临着"高离子电导率、界面兼容性、电化学稳定性"的不可能三角困 境。天赐材料研发团队在起步阶段，就遇到了这个世界级难题。 "当硫化物电解质与高镍正极接触时，界面阻抗会像一堵墙突然立起来。"天赐材料研发负责人告诉证券时报记者，"固态电解质材料本身要达到理想的离 子电导率已属不易，但当它与正负极材料实际接触时，界面阻抗往往会急剧增加，严重影响电池的倍率性能和循环寿命。" 面对挑战，天赐 ...

Core Viewpoint - The article discusses the rapid advancement of polymer-based solid-state batteries, highlighting their unique advantages in performance, manufacturability, and industrial adaptability, positioning them as a leading technology route in the solid-state battery industry [2][3]. Group 1: Performance Breakthroughs - Ionic conductivity has successfully surpassed the critical threshold of 10⁻³ S cm⁻¹ at room temperature through polymer molecular structure design [5]. - The electrochemical stability window has been expanded to 5V by employing main-chain antioxidant modification techniques and in-situ construction of the cathode-electrolyte interface (CEI) [6]. - Thermal stability has been enhanced, with the decomposition temperature of the electrolyte exceeding 200°C, while also exhibiting excellent flame-retardant properties and mechanical strength [7]. Group 2: Manufacturing Advantages - The polymer electrolyte can be directly applied to existing lithium-ion battery manufacturing processes, with equipment modification costs only one-tenth of other solid-state battery processes [9]. - The viscoelasticity of polymers allows for dynamic adaptation to electrode volume changes, resulting in a lower interface impedance growth rate by 1 to 2 orders of magnitude compared to inorganic solid electrolyte systems, enabling charge and discharge without external pressure [10]. - Over 90% of polymer raw materials can be shared with the existing chemical industry chain, eliminating reliance on scarce strategic metals, thus providing strong support for large-scale production [11]. Group 3: Challenges Facing Inorganic Systems - Inorganic systems face significant manufacturing challenges, requiring inert gas atmospheres or extremely low humidity environments, and high-temperature sintering processes that increase energy consumption by 5-8 times compared to lithium-ion batteries [12][13]. - Interface instability and high interface impedance due to rigid contact are major issues for inorganic systems [12][13]. - Safety concerns arise from the combustibility of sulfide electrolytes and the potential for lithium dendrite formation due to cracking [12][13]. Group 4: Commercialization Path Comparison - The polymer system can smoothly integrate with the existing industrial ecosystem through incremental technological improvements, while the inorganic system requires a complete overhaul of infrastructure and supply chains [14][15]. - Capital investment for dedicated production lines for inorganic systems can reach $100-200 million per GWh, which is 10-15 times higher than that for polymer routes [15]. - The supply chain integration cycle for inorganic systems is approximately 5-8 years, exceeding the 3-5 year technology iteration cycle of automotive companies [16]. Group 5: Industrialization Prospects - Polymer-based solid-state batteries are rapidly developing along a path of "improvement—replacement—exceeding," while inorganic systems still face systemic bottlenecks from material innovation to infrastructure [19]. - Based on the current technology maturity curve, polymer-based systems are expected to achieve large-scale application by 2026, becoming the mainstream solution for solid-state batteries [19].

Core Viewpoint - The solid-state battery industry is transitioning from a long-term technological marathon towards practical commercialization, with companies like Rongjie Energy focusing on specific application scenarios rather than solely on electric vehicles [2][4]. Group 1: Industry Trends - By 2025, the global solid-state battery industry is expected to enter a critical phase of "refinement," moving towards rationality after several rounds of capital and industrial fluctuations [4]. - There is a consensus that while solid-state batteries hold potential for the electric vehicle market, challenges such as cost, scalable manufacturing processes, and supply chain maturity must be addressed first [4]. - The first wave of commercialization for solid-state batteries is anticipated in specific fields that can maximize their core advantages, such as consumer electronics and low-altitude economy applications [4]. Group 2: Rongjie Energy's Developments - Rongjie Energy has launched its second-generation all-solid-state sulfide battery with an energy density of 450 Wh/kg, a significant improvement from the first generation's 350 Wh/kg [3][5]. - The advancements in performance, reliability, and safety redundancy are notable, with the new battery designed specifically for high-end consumer electronics, low-altitude economy, and humanoid robot applications [5][6]. - The company's approach emphasizes systematic engineering thinking rather than relying on a single disruptive material, focusing on optimizing materials, electrodes, interfaces, and processes [8]. Group 3: Technical Innovations - Achieving 450 Wh/kg energy density involves overcoming common industry challenges, particularly at the solid-solid interface [9]. - Rongjie Energy has developed a "super ionic conductive network" technology that increases the active material ratio in electrodes to over 90%, enhancing energy density [12][13]. - The company has implemented a dual-binder system to balance mechanical strength and electrochemical performance, resulting in a 15% increase in capacity utilization [27][28]. Group 4: Industrialization and Process Innovations - Rongjie Energy is working on a new low-pressure operation scheme to reduce the normal working pressure of the battery cells to below 2 MPa, facilitating integration into various devices [32]. - The company plans to transition from high-purity solid-phase methods to more cost-effective liquid-phase methods for mass production of electrolyte materials [35]. - The integration of a complete industrial chain, from lithium resource extraction to battery recycling, provides Rongjie Energy with a competitive edge in supply chain stability and cost control [36]. Group 5: Future Outlook - Rongjie Energy aims to establish a 0.2 GWh pilot line for all-solid-state batteries by 2026, with initial batch production capabilities for the new 450 Wh/kg product [39]. - The dual strategy of solid-state and semi-solid-state battery development allows the company to address current market needs while pursuing long-term technological advancements [38].

目前固态电池的成本高于传统锂离子电池，在假设产线良率为80%的情况下，目前半固态电芯的单位总 成本为0.85元/Wh;中期，半固态电芯的单位总成本约降至0.50元/Wh;远期来看，全固态电池有望搭载锂 金属负极、电解液也将全部被替换为固态电解质，全固态电芯单位总成本或将达到0.78元/Wh。复合集 流体可广泛应用于航空航天、汽车、电子、医疗等领域，对动力电池的影响主要表现在高能量密度、快 充兼容性和安全性提升。目前可用作锂离子电池集流体的材料有铜、铝、镍和不锈钢等金属导体材料、 碳等半导体材料以及复合材料，不锈钢或铁基材料为此提供了截然不同的解决方案。铁的表面能形成一 层厚且稳定的天然氧化层，这层钝化膜能有效"抑制硫化物的形成反应"，从而避免了腐蚀。案例方面， 2024年底，日本东洋钢板公司专为全固态电池开发的电解铁箔及铁镍合金箔产品，已通过日本经济产业 省(METI)的电池供应保障计划认证。 从全球固态电池产业布局来看，中国参与的企业较多，包括传统电池企业、初创电池企业、整车企业 等。当前QuantumScape、SolidPower和Toyota等企业在固态电池技术研发方面处于相对领先地位，重点 突破固态 ...

Core Viewpoint - The core change in solid-state batteries compared to liquid batteries lies in the use of solid electrolytes instead of liquid electrolytes and separators, which directly impacts key performance indicators such as power density, energy density, and cycle life [1] Summary by Category Solid Electrolyte Types - The most mature industrial applications of solid electrolytes are the sulfide and oxide routes, with sulfide electrolytes having the highest ionic conductivity and the largest capacity layout among downstream enterprises [1] - The future development potential of sulfide electrolytes is significant, and companies that are early adopters of lithium sulfide with certain technological advantages are recommended for attention [1] - Oxide electrolytes have moderate ionic conductivity but better stability, leading to accelerated industrialization progress, suggesting that companies with diversified oxide electrolyte layouts and certain cost advantages in the supply chain should be monitored [1]

Core Viewpoint - The solid-state battery technology is gaining significant attention due to increasing market demand for high energy density and safety, with several A-share listed companies making progress in pilot testing stages [1][2]. Industry Developments - Multiple A-share listed companies have reported advancements in solid-state battery products entering the pilot testing phase, which is crucial for validating mass production capabilities [1]. - Guoxuan High-Tech has announced that its all-solid-state battery is in the pilot production stage, with a design for a 2GWh production line underway and a yield rate of 90% for pilot line cells [1]. - Guangzhou Penghui Energy has improved its solid-state battery energy density from 280Wh/Kg to 320Wh/Kg and is on track to complete its pilot line by September 2025 [2]. - Aoxin Technology has transitioned its all-solid-state battery from laboratory to pilot production, with a planned capacity of 0.2GWh for its pilot line by the end of this year [2]. Challenges to Mass Production - Transitioning from pilot testing to mass production requires optimization of processes, improvement of yield rates, and reduction of costs, which are essential for commercial viability [3]. - Equipment manufacturers like Guangdong Liyuanheng Intelligent Equipment emphasize the need to overcome bottlenecks in large-scale production, focusing on continuous production and collaboration across the supply chain [3]. - Guoxuan High-Tech highlights the importance of optimizing material systems and manufacturing technologies while reducing costs to achieve economic viability in mass production [3]. - Experts estimate that the transition from pilot testing to large-scale production for solid-state batteries may take 2 to 4 years, with companies like Aoxin Technology planning for small batch production by 2026-2027 and large-scale production by 2030 [3].

Group 1 - The core viewpoint is that solid-state batteries possess high energy density and safety advantages, with small-scale production expected to begin in 2027 and large-scale applications in energy storage and other fields anticipated after 2030 [1] - The current value of pilot-scale production equipment is estimated at 500-600 million yuan per GWh, which is expected to decrease to 250 million yuan per GWh as mass production and equipment efficiency improve [1] - The dry process for solid-state batteries is becoming the main focus, with significant changes in the front, middle, and back-end processes, particularly in the production of electrolyte membranes and electrode sheets [1] Group 2 - The ChiNext New Energy ETF (159387) tracks the Innovation Energy Index (399266), which can experience daily fluctuations of up to 20% [1] - The Innovation Energy Index selects listed companies involved in clean energy production, energy-saving technologies, and electric vehicles to reflect the overall performance of the new energy and related technology sectors [1] - The index emphasizes technological innovation and sustainable development, aiming to capture trends and market dynamics in the new energy industry [1]

Core Viewpoint - The report from Guojin Securities indicates that the acceleration of solid-state battery industrialization will benefit upstream core materials, particularly solid electrolytes which replace liquid electrolytes and separators in traditional batteries [1] Group 1: Solid-State Battery Technology - The core change in solid-state batteries is the use of solid electrolytes, which directly impacts key performance indicators such as power density, energy density, and cycle life [1] - Among the solid electrolyte routes, sulfide and oxide are the most mature, with sulfide electrolytes showing the highest ionic conductivity and the largest capacity layout among downstream enterprises, indicating the greatest future development potential [1] Group 2: Investment Recommendations - Companies that are early adopters in the sulfide lithium sector and possess technological advantages are recommended for investment [1] - For oxide electrolytes, which have moderate ionic conductivity but better stability, companies that have diversified their oxide electrolyte layouts and possess cost advantages in the industrial chain are also recommended for attention [1]

Core Viewpoint - The core change in solid-state batteries compared to liquid batteries lies in the use of solid electrolytes instead of liquid electrolytes and separators, which directly impacts key performance indicators such as power density, energy density, and cycle life [1] Summary by Category Solid Electrolyte Types - The most mature industrial applications of solid electrolytes are based on sulfide and oxide routes, with sulfide electrolytes exhibiting the highest ionic conductivity and the largest capacity layout among downstream enterprises [1] - Sulfide lithium is identified as the core raw material in the sulfide route, suggesting a focus on companies that are early adopters of sulfide lithium and possess certain technological advantages [1] - Oxide electrolytes have moderate ionic conductivity but better stability, leading to accelerated industrialization progress, indicating a focus on companies that have diversified oxide electrolyte layouts and possess certain cost advantages in the supply chain [1]

Core Viewpoint - The core change in solid-state batteries compared to liquid batteries is the use of solid electrolytes instead of liquid electrolytes and separators, which directly impacts key performance indicators such as power density, energy density, and cycle life [1] Summary by Category Solid Electrolyte Types - The most mature industrial applications of solid electrolytes are the sulfide and oxide routes, with sulfide electrolytes having the highest ionic conductivity and the largest capacity layout among downstream companies [1] - Sulfide lithium is a core raw material in the sulfide route, suggesting a focus on companies that are early adopters of sulfide lithium and possess certain technological advantages [1] - Oxide electrolytes have moderate ionic conductivity but better stability, leading to accelerated industrialization progress, indicating a focus on companies that have diversified oxide electrolyte layouts and certain cost advantages in the supply chain [1]