受访者表示，该项研究取得新突破，标志着固态电池技术离实际应用又近了一步，为新能源汽车产业发 展注入了新动力。 近年来，我国在固态电池技术创新上加速跑。根据智慧芽数据，截至2025年5月16日，全球固态电池领 域的专利申请超过4.6万件。其中，从技术来源(专利申请企业所属国别)看，全球固态电池领域的专利申 请中，近37%来自日本，近30%来自中国，两者差距进一步缩小；从布局市场(专利申请所在国别)看， 中国已赶超日本，是全球固态电池专利布局最多的市场，约占35%。"当然，固态电池产业化目前存在 诸多技术障碍，无论是固态电解质还是固-固界面、材料、系统集成等方面，都需要突破瓶颈技术。"中 国第一汽车集团有限公司首席科学家兼研发总院(科技创新管理部)高端汽车集成与控制全国重点实验室 主任王德平表示，需要产业链企业、高校、科研院所协同攻关，从基础上解决底层核心技术，推动固态 电池产业化。 重庆太蓝新能源有限公司产品负责人康丹苗说："动力电池深陷里程焦虑、成本限制、安全风险的'三角 困局'，技术升级亟待突围，需要通过材料创新和工艺创新，攻克电导率和界面阻抗难题，实现固态电 池安全性能提升、能量密度提升、循环寿命提升，推 ...

6月会议预告 2025高工钠电 产业峰会 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025 年以来，固态电池的商业化进程正从 远景 走向现实。其发展的加速，表现为市场需求与制 造技术两方面的共同驱动。 进程的拉力首先来自具体应用场景的落地。 无人机领域 正 成为一个 鲜明 的突破口， 海内外 多 家企业获得订单并实现交付 ，使其成为 固态 电池 企业 竞相争夺的 " 第一 口 蛋糕 " 。 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 2024 年，公司参与的浙江龙泉半固态磷酸铁锂储能电站项目，成为全球首套采用原位固态化电池 的电网侧大规模储能电站。自 2022 年推出 HyperSafe 系列固态电池储能系统以来，海博思创 持续推动该技术在储能领域的商业化进程。 同时，应用于机器人、 eVTOL 及储能电站的 固态电池 产品，也从 反复的 实测验 ...

Investment Rating - The report maintains an "Accumulate" rating for the specialized equipment industry [1] Core Insights - The lithium battery equipment companies have fully accounted for impairment losses, and both domestic and international expansions are expected to significantly boost performance [1] - The solid-state battery industrialization process is accelerating, which is likely to benefit leading equipment manufacturers [1] Industry Trends - Domestic lithium battery manufacturers are returning to an expansion cycle, while overseas players are ramping up high-quality orders. For instance, CATL's Hong Kong IPO raised HKD 35.3 billion, with approximately 90% allocated to the construction of a factory in Hungary, which has a planned total capacity of 72 GWh [1] - The lithium battery equipment industry has accounted for a total impairment provision of CNY 5.7 billion for 2023-2024, indicating that the risk has been sufficiently mitigated [1] - The solid-state battery is becoming a mainstream technology, with companies like BYD planning to start mass production by 2027. Leading equipment manufacturers like Xianlead are uniquely positioned to provide complete solid-state battery production lines [1] Investment Recommendations - The report recommends focusing on leading lithium battery equipment companies such as Xianlead and Hangke Technology, as well as laser welding leader Lianying Laser and platform-based battery equipment manufacturer Liyuanheng [1]

报告导读： 车端开启路测，全固态电池产业化进程加速，近期催化密集落地，看好全固态 电池产业化趋势，建议持续关注产业链相关企业进展。 投资建议： 全固态电池产业化进程加速，看好固态电池产业链相关公司。 宝马、奔驰等车企开启路测，全固态电池产业化进程加速。 首批搭载全固态电池的宝马电动汽车已经正式 上路进行测试，采用美国 Solid Power 研发的硫化物电解质棱柱电池。 梅赛德斯 - 奔驰全新固态电池技 术已在量产车行开展测试，能量密度高达 450Wh/kg ，满电续航超过 1000km 。 长安汽车预计 2026 年实现固态电池装车验证， 2027 年推进全固态电池逐步量产，能量密度达 400Wh/kg 。 上汽集团新一 代固态电池将于 25 年底在全新 MG4 上量产应用，预计 2027 年上汽首款全固态电池"光启电池"将落 地。 全固态趋势确定，锂电池企业竞速抢位。 国轩高科发布金石全固态电池，建成首条 0.2GWh 中试线，核 心设备 100% 国产化，并且开启装车路测。 宁德时代全固态电池技术行业领先， 2027 年有望实现小批 量生产。 孚能科技充分发挥软包及 SPS 优势，能量密度 400-50 ...

Core Viewpoint - The article highlights the significant advancements in solid-state battery technology, emphasizing its potential to revolutionize various sectors, including electric vehicles and energy storage, marking the beginning of a new era in the trillion-dollar new energy industry. Group 1: Solid-State Battery Developments - Solid-state batteries are recognized for their high theoretical energy density, inherent safety, and long cycle life, making them the ultimate battery technology for sectors like electric vehicles, energy storage, eVTOL, AI, and consumer electronics [1][2] - Major domestic advancements in solid-state battery technology have been achieved, with companies like BYD and FAW successfully developing large-capacity solid-state battery cells exceeding 60Ah, indicating a shift from basic research to practical application [1][2] Group 2: Material and Equipment Innovations - In the materials segment, sulfide solid electrolytes have become mainstream, with breakthroughs in oxide and polymer pathways. The trend towards composite solid electrolytes and modified anode/cathode materials is evident to overcome performance bottlenecks [2] - The equipment segment is witnessing the emergence of dry electrode equipment and pilot production lines for solid-state batteries, presenting challenges in scaling production, including consistency, yield rates, production efficiency, and cost [2] Group 3: Market Outlook and Industry Trends - The transition to solid-state battery commercialization is anticipated, with semi-solid batteries already entering automotive supply chains and expected to expand in application scale by 2025. Full solid-state batteries are projected for small-scale vehicle validation around 2027 [2] - The industrialization of solid-state batteries has progressed from technical validation to engineering challenges, with collaborative breakthroughs in materials, equipment, and ecosystem expected to reshape the global new energy industry landscape, potentially reaching a commercialization tipping point by 2030 [2]

Group 1 - The battery ETF fund has seen a significant increase in trading volume, with a total transaction of 1.81 million yuan on a single day and an average daily transaction of 8.06 million yuan over the past year [3] - The fund's scale has grown by 47.82 million yuan in the past year, ranking it among the top two in terms of new scale compared to similar funds [3] - The fund's shares have increased by 10.5 million units in the last three months, making it the top performer in terms of new shares among comparable funds [3] Group 2 - The valuation of the index tracked by the battery ETF fund is at a historical low, with a latest price-to-book ratio (PB) of 2.82, which is lower than 84.79% of the time over the past five years, indicating a strong value proposition [3] - Del's announcement of a new investment cooperation agreement with the local government in Huzhou, Zhejiang Province, for a new lithium battery pilot and industrialization project, with a total planned investment of approximately 300 million yuan [3] - Guosen Securities reports that the solid-state battery industry is accelerating, with companies like BMW, Mercedes-Benz, and Chery conducting road tests for solid-state battery prototypes, and various firms making strides in solid-state battery production [3] Group 3 - As of May 30, 2025, the top ten weighted stocks in the CSI Battery Theme Index include CATL, Sungrow Power, Sanhua Intelligent Control, EVE Energy, Greeenmech, Xinwanda, Guoxuan High-Tech, Tianci Materials, Xian Dao Intelligent, and Deyang Co., accounting for 50.34% of the total index [4] - Investors without stock accounts can access battery industry investment opportunities through the battery ETF linked fund (016567) [4]

从2026年7月1日起，新版动力电池安全国家强制性标准就要正式开始实施，要求电池 "不起火、不爆炸"。留心的朋友会发现，这个新国标的实施时间和各 大车企公布的固态电池量产时间非常相近，预计届时会大幅度提升新车型对固态电池的搭载率。 目前中国固态电池产业链竞争格局层次分明，老牌电池企业阵营中以宁德时代、国轩高科、先导智能等龙头具有代表性，新兴企业当中卫蓝新能源、清陶能 源、太蓝新能源等潜力较大，这些电池ETF（561910）均有布局。 在多重利好催化下，最近固态电池概念股表现很活跃，鹏辉能源、国轩高科等涨幅显著，三祥新材年内涨幅甚至高达30%。 电池网数据显示，整个5月近20只固态电池概念股获得杠杆资金加仓，其中比亚迪、国轩高科杠杆资金净买入额居前，分别为10.2亿元和1.52亿元；天奈科 技、容百科技、先导智能、当升科技等杠杆资金加仓额也居前。 今日早盘，亿纬锂能、欣旺达、科达利等纷纷涨超1%，固态电池含量较高的$电池ETF(SH561910)$盘中一度涨超0.8%。数据显示，该ETF从4月8日以来累 计上涨了5%，自去年924以来涨幅更是高达21%。 最近5个交易日电池ETF（561910）也一直保持吸金姿 ...

Core Viewpoint - The article emphasizes the significant advancements in solid-state battery technology, highlighting its potential to revolutionize various sectors, including electric vehicles, energy storage, and consumer electronics, marking the beginning of a trillion-level new energy industry era. Group 1: Industry Developments - The solid-state battery technology has made substantial progress in China, with companies like BYD and FAW successfully developing large-capacity solid-state battery cells exceeding 60Ah, indicating a shift from basic research to practical application [1][2]. - The research and development of solid-state electrolytes is dominated by sulfide materials, with parallel breakthroughs in oxide and polymer pathways, showcasing a trend towards composite materials in solid-state battery development [2]. - The industry is facing challenges in scaling production, with the emergence of dry electrode equipment and pilot production lines, necessitating breakthroughs in consistency, yield rates, production efficiency, and cost [2]. Group 2: Market Outlook - The semi-solid battery is currently being integrated into automotive supply chains as a transitional solution, with expectations for expanded application by 2025; full solid-state batteries are anticipated to undergo small-scale vehicle testing around 2027 [2]. - The industrialization of solid-state batteries has progressed from technical validation to engineering challenges, with collaborative breakthroughs in materials, equipment, and ecosystem expected to reshape the global new energy landscape, potentially reaching a commercialization tipping point by 2030 [2]. Group 3: Event Highlights - The 2025 High-Performance Sodium Battery Industry Summit and the 2025 Solid-State Battery Technology and Application Summit are scheduled for June 9 and June 10, respectively, at the Shangri-La Hotel in Suzhou, featuring key industry players and discussions on the latest trends and technologies [1][3]. - The events will include award ceremonies for pioneers in sodium and solid-state battery industrialization, as well as a series of presentations and discussions led by industry experts on the current state and future directions of solid-state battery technology [4][5].

技 术 发 展 与 市 场 展 望 高 峰 论 坛 会议主办： 鑫椤资讯 会议时间： 2025年7月8-9日（8号报到） 会议地点： 中国·上海 电池企业量产计划 国轩高科： 2027年量产， 金石电池，质量能量密度可达350Wh/kg，体积能量密度可达800Wh/L，电 芯循环寿命可达3000次。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 固态电池因其高能量密度、高安全性和快速充电能力，被视为未来新能源汽车电池技术的重要发展方 向。 近年来，随着技术的不断突破，多家企业纷纷公布了固态电池的量产时间表，固态电池产业化进程加速 推进。 2025（第三届）中国固态电池 孚能科技： 2025年底量产， 60Ah的硫化物全固态电池，能量密度高达400至500Wh/kg，计划向战略 合作伙伴小批量交付。 亿纬锂能： 2026年量产， 硫化物和卤化物复合固态电解质技术路线，2026年推出高功率、高环境耐受 性、绝对安全的全固态电池，2028年推出400Wh/kg高比能量的全固态电池。 欣旺达： 2026年量产， 第三代聚合物复合全固态电池2025年完成产品开发，第四代全固 ...

Investment Rating - The report maintains an "Outperform" rating for the electric equipment and new energy industry [1]. Core Insights - The report highlights strong sales in the new energy vehicle sector, with significant growth in sales figures for major manufacturers [2][24]. - It emphasizes the optimistic growth in photovoltaic demand, particularly in emerging economies, and anticipates supply-side reforms in the photovoltaic sector [1]. - The report suggests prioritizing investments in sectors with improving profitability, such as wind power machinery and components, as well as battery and material sectors benefiting from rising demand [1]. - It notes the ongoing push for hydrogen energy development, with a focus on companies with cost and technological advantages in electrolyzer production and hydrogen infrastructure [1]. Summary by Sections New Energy Vehicles - In May 2025, BYD sold 382,500 new energy vehicles, a year-on-year increase of 15.28% [2][24]. - Other manufacturers like Xiaopeng and Li Auto also reported significant sales growth, with increases of 230% and 16.70% respectively [24]. Photovoltaic and Wind Power - The report indicates that the first quarter of 2025 saw rapid growth in photovoltaic installations in China, with optimistic demand forecasts for both domestic and international markets [1]. - It mentions that the National Development and Reform Commission and the National Energy Administration are promoting green electricity connections to enhance local consumption of renewable energy [24]. Hydrogen Energy - China Petroleum and Chemical Corporation announced the establishment of a hydrogen energy investment fund with an initial scale of 5 billion yuan, targeting the entire hydrogen energy supply chain [24]. Electric Equipment - The report anticipates continued high demand for electric grid equipment due to ongoing reforms in the domestic power system and strong overseas demand for grid upgrades [1]. - It suggests focusing on companies benefiting from high demand for ultra-high voltage and distribution network equipment [1]. Price Observations - The report provides insights into the pricing trends of lithium battery materials, photovoltaic materials, and auxiliary materials, indicating fluctuations and market dynamics [14][15][21][22].