本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 林园作为一名老牌价值投资代表人物，曾以长期持股、买了不卖、寻求确定性等投资理念赚得盆满钵满。比如2001年投资宁沪高速，买入三年 后获利三倍、2003年重仓介入贵州茅台实现财富自由，或许至今仍继续持有。 可以发现的是，林园在过往优秀的战绩中，确实很少接触科技 股。 近期， 林园被动买了科技股引发市场关注，因为进行新股申购存在市值要求，所以被动买入了一批科技股。 林园坦言投资科创板让他备受煎 熬：搞了以后，对我来说也是很痛苦，我买了以后才后悔，把我折腾的多少个晚上都睡不着觉，因为我买了是不卖的。 林园多次旗帜鲜明地表示自己坚决不碰科技股，在科技行情沸腾的当下，为什么依旧如此坚定地不碰科技股？曾也有投资者质疑林园不懂什么高 科技，为什么不投那些科技？ 其实，林园早年拥有过科技行业的从业经验，曾在20多岁就是摩托罗拉芯片的亚洲总代理， 亲身体验过科技行业的不 确定性，这或许与 林园的 投资理念 —"确定性"存在明显偏差。 这或许也是一位价值投资的坚守，只做自己认为对的事情。（可参考： 股市传奇林园：从8000元到百亿财 富的私募基金经理 ） 不投但不代 ...

Group 1 - The core viewpoint of the articles highlights the growing interest and investment in solid-state battery technology, with significant market potential projected for the coming years [1][2][3] - The China Securities forecast indicates that global solid-state battery demand will reach 16.4 GWh by 2025, corresponding to a market space of 14.4 billion yuan, and 270.8 GWh by 2030, with a market space of 218 billion yuan [2] - The solid-state battery market is expected to accelerate commercialization, potentially replacing existing liquid lithium batteries in various applications, including new markets such as low-altitude, robotics, and data centers [2] Group 2 - The ChiNext New Energy ETF (159368) is the first ETF in the market tracking the ChiNext New Energy Index, with significant holdings in sectors like batteries and photovoltaics [3] - As of September 29, 2025, the ChiNext New Energy ETF has a total scale of 1.093 billion yuan, with a daily average trading volume of 76.82 million yuan over the past month [3] - The ETF has a solid-state battery allocation of 30.48% and a storage capacity of 51%, aligning with current market trends [3]

Group 1 - The chemical sector continues to show strong performance, with the chemical ETF (516020) experiencing a price increase of 0.66% as of the latest update, reflecting a peak intraday gain of 1.32% [1][2] - Key stocks in the sector, including fluorine chemicals, soda ash, lithium batteries, and synthetic resins, have seen significant gains, with companies like Duofu Duo and Hebang Biological rising over 7% [1][3] - The Ministry of Industry and Information Technology has proposed measures to expand market consumption, including optimizing tax incentives for the automotive industry and promoting electric vehicles in public sectors [1][4] Group 2 - According to CITIC Construction Investment, investment in China's lithium battery industry chain has rapidly increased, with solid-state batteries emerging as a hot investment area, indicating a significant acceleration in the industrialization process [3] - The chemical ETF (516020) is currently at a low valuation point, with a price-to-book ratio of 2.31, suggesting a favorable long-term investment opportunity [3] - Donghai Securities highlights that China's chemical industry has a competitive advantage due to cost efficiency and technological advancements, positioning it to fill gaps in the international supply chain [4] Group 3 - The chemical ETF (516020) tracks the CSI segmented chemical industry index, with nearly 50% of its holdings in large-cap leading stocks, providing investors with a diversified exposure to the chemical sector [5] - The ETF allows investors to efficiently capitalize on the rebound opportunities in the chemical sector, with a balanced approach to various sub-sectors [5]

Group 1 - The A-share market has experienced high-level fluctuations since September, with significant capital inflow into brokerage-related ETFs, totaling over 27 billion yuan [1][2] - The Guotai CSI All-Share Securities Company ETF alone received over 10 billion yuan in capital inflow [1][2] - As of September 26, 16 brokerage-related ETFs collectively attracted approximately 27.41 billion yuan in capital [2] Group 2 - The Guotai CSI All-Share Securities Company ETF's fund size reached 44.48 billion units by September 26, marking a 28.96% increase since the end of August, with total assets growing by 18.4% to 54.18 billion yuan [5] - Other brokerage ETFs also showed rapid growth, with the Huabao CSI All-Share Securities Company ETF's size increasing by over 20% and total assets rising by over 10% [5] - The Tianhong, Yinhua, and Nanfang CSI All-Share Securities Company ETFs each received over 1 billion yuan in capital inflow since September [5] Group 3 - The technology sector continues to attract significant capital, with the E Fund National Robot Industry ETF receiving over 6 billion yuan in inflow, doubling its size to 7.74 billion units [7] - The Guangfa National New Energy Vehicle Battery ETF and the Huitianfu CSI Battery Theme ETF each gained over 4 billion yuan in capital inflow, with their sizes reaching 12.55 billion units and 7.21 billion units, respectively [7] - The technology growth sector has shown strong performance in the first three quarters, with expectations for continued positive trends in the fourth quarter [7] Group 4 - The new energy vehicle sector is expected to receive ongoing policy support, leading to rapid growth in battery demand, particularly for solid-state batteries [8] - The battery sector is anticipated to maintain a high level of prosperity, with expectations for a favorable market in the fourth quarter [8] Group 5 - The domestic economy is expected to continue its steady recovery, supported by policy measures and improved market confidence, which will benefit the securities sector [6]

Group 1 - The chemical sector is experiencing a strong rally, with the Chemical ETF (516020) rising by 2.58% and closing at a daily high, marking four consecutive days of gains [1] - Key stocks in the sector include Tianqi Lithium and Duofluoride, both hitting the daily limit up, while other companies like Juhua Co., Jinfa Technology, and New Energy Technology saw significant increases of over 6% [1] - Recent positive developments in the solid-state battery sector, including a government plan to accelerate the application of solid-state battery materials, are expected to boost market demand [1][3] Group 2 - The chemical industry is currently in a weak performance phase, with mixed results across sub-sectors due to past capacity expansions and weak demand, although some sectors like lubricants have outperformed expectations [4] - Analysts suggest focusing on investment opportunities in glyphosate, fertilizers, import substitution, domestic demand, and high-dividend assets [4] - The demand side is stabilizing as the impact of U.S. tariffs diminishes, while supply-side improvements are expected due to the exit of European chemical capacity and domestic policies aimed at eliminating outdated production [4] Group 3 - The Chemical ETF (516020) tracks the CSI segmented chemical industry index, with nearly 50% of its holdings in large-cap stocks, providing exposure to leading companies in various chemical sectors [5] - The ETF offers a more efficient way to invest in the chemical sector, allowing investors to capture opportunities across different sub-industries [5] - As of September 26, the price-to-book ratio of the underlying index for the Chemical ETF is at 2.26, indicating a favorable long-term investment opportunity [3]

受益于储能电池强劲需求，以及我国在固态电池领域的研发和量产进展，电池板块中长期配置价值显 著，有望成为市场主线机会之一，值得持续关注和配置。感兴趣的投资者可通过【支付宝】搜索天弘国 证新能源电池指数发起式基金（A类：021963 / C类：021964）或天弘中证新能源车指数基金（A类： 011512 / C类：011513）进行布局，把握行业长期发展机遇。 消息面上，近期清华大学团队在固态电池聚合物电解质领域取得重要进展，相关成果已发表于《自然》 （Nature），有望为成熟的固态电池产品研发提供重要技术参考。 当前，固态电池产业化加速进行中，凭借在安全性、能量密度等方面的优势，一方面有望替代替代现有 液态锂电池在新能源汽车和储能领域的应用，还可能开拓低空经济、机器人和数据中心等新兴市场。同 时政策支持加码中，今年工信部等八部门联合印发的《新型储能制造业高质量发展行动方案》明确将固 态电池列为重点攻关方向，支持锂电池、钠电池向固态化发展，并计划在2027年前打造3至5家全球龙头 企业。 数据来源：iFinD。文中所提个股仅作成分股展示，不构成任何投资建议。市场有风险，投资需谨慎。 截至2025年9月29日1 ...

消息面，八部门印发《有色金属行业稳增长工作方案（2025—2026年）》，提出加快全固态电池材 料等高端产品应用验证。工信部同期发布《电子信息制造业2025—2026年稳增长行动方案》，支持全固 态电池等前沿技术方向基础研究。 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），最大涨跌幅达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。 兴业证券指出，固态电池国内外产业化加速，设备率先受益。自2024年下半年以来，固态电池领域 催化事件频发，推动锂电板块整体景气度回升。当前下游新能源车销量保持高增长态势，固态电池产业 化进程的不断推进，预计相关催化频发，锂电板块盈利端修复与估值提升的预期愈发明确。在国家政策 的强力支持背景下，产业链各环节企业相继发布全固态电池技术解决方案，同时低空经济、机器人等新 兴应用场景的需求催化持续释放，多重利好叠加下，固态电池产业化进程有望提前加速。目前初代全固 态电池 ...

9月29日，锂电龙头宁德时代AH股齐涨，盘中一度涨超5%。截至午间收盘，A股宁德时代 （300750.SZ）涨超3%，报392元/股，成交额103.95亿元，已超上一日全天。H股宁德时代（3750.HK） 涨4.43%，报554港元/股。 消息面上，产业层面，近日固态电池领域利好消息迭出。 公司层面，摩根士丹利发布关于宁德时代的研报，重申其对宁德时代A股和港股的"增持"评级。研报认 为，尽管NCM811电池组新产品尚未获公司确认，但新产品有望将EREV电池容量提升至80kWh，续航 超600km，并结合NP3.0技术提升安全与寿命。 值得注意的是，产业、公司端利好叠加下，产业链相关个股亦股价高涨。宁德时代产业链指数盘中拉 升，成分股中科达利10CM涨停，天赐材料涨超9%，湖北宜化、远东股份、新宙邦等涨超6%。此外， 参股宁德时代指数中，成分股中山公用、天华新能涨幅居前，均涨超4.5%。 | < W | 宁德时代产业链指数(8841034) | | Q | | --- | --- | --- | --- | | | 2707.94 57.05 2.15% | | | | 祭料 | 资讯 成分 | | 相关基金 ...

格隆汇9月29日｜据21财经，日前，清华大学化工系教授张强领衔的团队在锂电池聚合物电解质研究领 域取得重要进展，该团队成功开发出一种新型含氟聚醚电解质，该电解质通过热引发原位聚合技术，有 效增强了固态界面的物理接触与离子传导能力，有望为成熟的固态电池产品研发提供重要技术参考。相 关成果已于9月24日在线发表于《自然》（Nature）。 目前，固态电池产业化已进入"冲刺阶段"。工信部等八部门联合印发的《新型储能制造业高质量发展行 动方案》也明确将固态电池列为重点攻关方向，支持锂电池、钠电池向固态化发展，并计划在2027年前 打造3至5家全球龙头企业。在固态电池产业链布局上，先导智能、天赐材料等多家上市公司已提前落 子，涉及设备与材料、正负极、电解质等多个环节。此外欣旺达、璞泰来、赢合科技（维权）、德龙激 光等部分上市企业也在积极披露固态电池研发与商业化最新进展。东吴证券预计，固态电池行业25H2- 26H1将进入中试线落地关键期，2026年中试线优化+样车路试，2027年开启小规模量产装车，行业出货 有望突破1GWh，2030年大规模量产，规模有望突破100GWh。 ...

Summary of the Conference Call on Solid-State Battery Equipment Industry Industry Overview - **Industry**: Solid-State Battery Equipment - **Key Analysts**: Wang Shuai, Li Feng, Wu Shenghao, Sun Zhaoxu [1] Key Points Lithium Battery Market - By 2025, demand for lithium batteries in new energy vehicles and energy storage is expected to grow steadily. However, the industry faces an oversupply situation due to previous rapid capacity expansion, leading to sustained pressure on profitability for two years [3][3]. - Current signs indicate a price bottoming out and a slowdown in capacity expansion, which are positive for the market. The industry is showing signs of stabilization and potential upward elasticity in profitability as companies implement cost reduction and efficiency measures [3][3]. - New technologies like solid-state batteries are accelerating, potentially reshaping the competitive landscape. Companies with advantages in new technology may see a rebound first [3][3]. Solid-State Battery Development - The commercialization of solid-state batteries is expected to accelerate by 2025, driven by their high energy density, excellent safety, and adaptability to wide temperature ranges. They are likely to replace existing liquid lithium batteries in various applications and open new markets such as drones, robotics, and data centers [3][3]. - The solid-state battery supply chain is expected to see collaborative breakthroughs across various segments, including mature preparation processes for solid electrolytes and new electrode materials, leading to significant cost reductions [3][3]. - The initial phase of solid-state battery production will focus on dry electrode equipment and static pressure equipment, with increasing importance on post-processing stages as the industry matures [3][3]. Investment Recommendations - Focus on leading battery equipment manufacturers and companies with comprehensive R&D and production capabilities in solid-state batteries, such as XianDao Intelligent, Yinghe Technology, and HaiMuXing [3][3]. - Attention should also be given to companies innovating in dry coating and mixing processes, such as NaKonoer and HongGong Technology, as dry processes are expected to dominate future developments [3][3]. - As the solid-state battery trend becomes clearer, suppliers of post-processing equipment are likely to benefit, with companies like HangKe Technology and HuaZi Technology being noteworthy [3][3]. Risks - Potential risks include policy effects falling short of expectations, lower-than-expected downstream demand, unexpected fluctuations in raw material prices, macroeconomic volatility, and slower-than-expected technological advancements [3][3]. Additional Insights - The new national standard for power batteries mandates that they must not catch fire or explode, which will enhance the focus on battery safety and likely accelerate the adoption of solid-state batteries [6][9]. - Solid-state batteries significantly outperform liquid batteries in terms of thermal runaway temperatures, with solid electrolytes showing much higher thresholds for thermal stability [9][9]. - The production process for solid-state batteries involves significant changes in equipment and technology, particularly in the front-end processes of mixing, coating, and rolling, which are critical for achieving high energy density and cycle life [39][58]. Conclusion The solid-state battery equipment industry is poised for growth, driven by technological advancements and increasing safety standards. Investment opportunities exist in leading equipment manufacturers and those innovating in production processes. However, potential risks must be carefully monitored as the industry evolves.