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].

Core Viewpoint - The article emphasizes the upcoming 2025 High-Performance Solid-State Battery Technology and Application Summit, highlighting its significance in addressing the challenges of solid-state battery commercialization and the integration of AI technology to overcome interface impedance issues [4][24]. Group 1: Event Details - The summit is scheduled for June 10, 2025, at the Shangri-La Hotel in Suzhou [7][21]. - The event is organized by GGII, which includes G High-Tech Lithium Battery, G High-Tech Energy Storage, and G High-Tech Industry Research Institute [1][3]. Group 2: Industry Challenges and Innovations - The article discusses the critical challenge of achieving a solid-state battery with a failure rate of less than or equal to 1% [9]. - It mentions the need for breakthroughs in energy density, targeting 500 Wh/kg, and the ongoing efforts to resolve the "crystal curse" in solid-state battery technology [14][27]. - The article highlights the importance of cost reduction in materials, specifically aiming for 500,000 yuan per ton for lithium sulfide and 100,000 yuan per ton for silicon-carbon [27]. Group 3: Market Opportunities - The summit will explore how solid-state batteries can unlock the trillion-dollar eVTOL (electric Vertical Take-Off and Landing) market, indicating a significant growth opportunity in the low-altitude economy [31]. - The event aims to facilitate discussions on building an ecosystem for solid-state battery technology, potentially allowing China to leapfrog in the energy storage sector [24].

5月27日，合源锂创(苏州)新能源科技有限公司(以下简称"合源锂创")对外宣布，公司正式向建筑机器人 企业金皇冠智能科技(苏州)有限公司交付了首批建筑机器人的固态动力电池包，这是固态电池在建筑机 器人领域的首次批量应用。 "尽管固态及半固态电池在主流电动汽车市场的大规模应用仍面临挑战，但其凭借高能量密度和高安全 性优势正在细分市场找到早期立足点。"高工锂电产业研究院相关人士向《证券日报》记者表示。 在无人机和eVTOL领域，兼顾长续航、轻量化、高倍率与绝对安全的动力电池是其核心诉求。目前， 已有部分企业实现固态电池的小批量交付。 5月28日，金龙羽发布公告称，截至目前，公司固态电池及其关键材料相关技术的研究开发已取得一定 的进展，部分材料已向客户送样评测。近期，公司子公司金龙羽新能源(深圳)有限公司与客户签订了无 人机用高能量密度固态电芯采购订单。 5月22日，孚能科技(赣州)股份有限公司在投资者关系活动记录表中提到，在半固态电池领域，公司的 半固态电池产品已规模化出货，其中第一代半固态电池已在2022年实现装车，第二代半固态电池能量密 度超过330Wh/kg，循环寿命超过4000圈，预计将于今年量产，有望率 ...

Core Viewpoint - Solid-state batteries are a disruptive technology in the electric vehicle sector, currently in the early stages of industrialization, facing challenges such as technology route selection, mass production difficulties, and supply chain restructuring, but offering high energy density, safety, and long cycle life advantages that could reshape automotive design and market dynamics [3][10]. Group 1: Solid-State Battery Development - The energy density target for solid-state batteries is set at 500Wh/kg by 2030, with current high-energy solid-state cells from Dongfeng achieving 350Wh/kg [3][4]. - Dongfeng's solid-state battery technology is expected to support vehicle ranges of over 1000 kilometers with a capacity of over 200kWh, effectively doubling the capacity of current high-end models [3][4]. - The cycle life of Dongfeng's solid-state battery cells can reach 1000 weeks, maintaining over 80% health after nearly 20 years of use [4]. Group 2: Industry Challenges and Future Outlook - The current lithium-ion batteries have safety issues and energy density limitations (around 300Wh/kg), necessitating the development of high-safety and high-energy-density batteries, with solid-state technology being a key solution [10]. - The solid-state battery industry is at a critical juncture, with ongoing research and development needed to overcome technical challenges before mass production can be realized [10]. Group 3: Dongfeng's Milestones - Dongfeng established a solid-state battery project team in 2018, completing the first-generation solid-state battery system by July 2019, and successfully applying it to vehicles by June 2020 [5]. - The upcoming solid-state battery trials in Dongfeng vehicles are set for August 2026, marking a significant step in the commercialization of this technology [4][5]. Group 4: Upcoming Events - The 2025 Fourth Solid-State Battery Conference and Silicon-Based Anode Industry Innovation Conference will be held from July 3-5, 2025, in Ningbo, focusing on solid-state batteries and silicon-based anodes, addressing core demands for low cost and high performance [12].

Core Trends in Battery Technology - The 17th Shenzhen International Battery Technology Exchange Conference/Exhibition (CIBF2025) highlighted five core trends in battery technology driven by carbon neutrality goals: solid-state battery industrialization, breakthroughs in extreme fast charging, diversification of cylindrical battery applications, mass production of large energy storage cells, and commercialization of sodium batteries [1][16]. Solid-State Batteries - Solid-state batteries are emerging as the core direction for next-generation battery technology, offering high energy density, intrinsic safety, and wide temperature performance. They can achieve theoretical energy densities 2-3 times that of traditional liquid batteries [1][3]. - Companies like CATL are developing semi-solid state batteries with energy densities up to 500Wh/kg and are collaborating on electric passenger aircraft projects [3]. - BYD plans to start mass production of solid-state batteries by 2027 and aims for large-scale production by 2030 [3]. - Guoxuan High-Tech showcased its G-variant semi-solid state battery with energy densities exceeding 300Wh/kg, demonstrating significant safety improvements [3]. Extreme Fast Charging - The rise of electric vehicle penetration has shifted user concerns from range anxiety to charging efficiency, making extreme fast charging (XFC) a focal point at CIBF2025. Companies are introducing 6C high-rate batteries to match the refueling speed of gasoline vehicles [4][7]. - Xinwanda presented the world's first 1400A flash charging battery, capable of charging over 150 kilometers in just one minute [7]. - Hive Energy introduced a second-generation battery with rapid charging capabilities, achieving 20% to 80% SOC in just 12.1 minutes [7]. Diversification of Cylindrical Batteries - The cylindrical battery sector is expanding from electric vehicles to various applications, including electric two-wheelers and small power devices. The standardization and customization of cylindrical batteries are seen as key to reducing costs [1][9]. - BYD showcased a cylindrical battery designed for electric two-wheelers, emphasizing long service life and high cycle performance [9]. - Sodium-ion batteries are gaining traction for their resource abundance and safety, with applications expected in small power devices and energy storage [10][15]. Large Energy Storage Cells - The energy storage sector is moving towards "600Ah+" cells, with a focus on enhancing energy density and cycle life while reducing costs [10][12]. - Companies like Ruipu Lanjun and Xinwanda are presenting large capacity storage cells with energy densities around 430Wh/L and cycle lives exceeding 10,000 cycles [12][13]. - The trend emphasizes the need for high energy density, long cycle life, and safety in energy storage solutions [10]. Sodium Battery Commercialization - Sodium batteries are advancing towards industrial applications, particularly in small power devices and energy storage, addressing the limitations of lithium batteries [10][15]. - CATL is developing sodium-based batteries for commercial vehicles, with plans for mass production in mid-2025 [15]. - The sodium battery technology is expected to alleviate reliance on lithium resources while providing high power characteristics [10][15].

Investment Rating - The report maintains a "Positive" investment rating for the industry [3] Core Insights - The report highlights that the main line has established a bottom, with the IPO of Ningde Times realizing liquidity premiums. The acceleration of solid-state battery industrialization is emphasized as a key focus for continued recommendations [14][39] - The report indicates that the photovoltaic sector is experiencing a clear bottom in sentiment, with expectations of a decline in production in June due to a retreat in domestic rush demand. However, new technology developments are showing positive signs [14][39] - The energy storage sector is noted for its upward trend in household storage and the potential for large-scale storage to be positioned for left-side layout [14][39] - The lithium battery sector is expected to see a shift in traditional frameworks, with the IPO of Ningde Times providing international pricing opportunities and the continued advancement of solid-state battery technology [14][39] - The wind power sector is anticipated to recover in Q2, with a focus on offshore wind opportunities [14][39] - The power equipment sector is highlighted for its upcoming bidding opportunities and the potential for overseas market recovery [14][39] Summary by Sections Photovoltaic - In April, domestic photovoltaic installations surged to 45.22 GW, a year-on-year increase of 215%, with a cumulative installation of 104.93 GW for the first four months, up 75% year-on-year [13][27] - The report notes that the market is stabilizing prices after a period of decline, with major manufacturers attempting to control prices amid a backdrop of declining demand [27][39] - Key recommendations include focusing on companies with strong financial reserves and those positioned to benefit from supply-demand improvements, such as Longi Green Energy and Tongwei Co [14][39] Energy Storage - The report emphasizes the growth of large-scale commercial energy storage projects, with significant progress in projects over 50 MWh [48] - The U.S. "Big and Beautiful" bill has passed the House, which includes adjustments to clean energy tax credits and incentives [49][51] - Recommendations include focusing on household storage and AIDC-related opportunities, with key companies like Sungrow Power Supply and Dewei Technology highlighted [14][39] Lithium Batteries - The report suggests that concerns regarding the lithium battery sector's profitability may be alleviated by the international pricing opportunities presented by Ningde Times' IPO [14][39] - The solid-state battery technology is noted for its rapid industrialization, with key companies such as Ningde Times and Xiamen Tungsten highlighted for investment [14][39] Wind Power - The report indicates that performance concerns in the wind power sector have been largely addressed, with a focus on the acceleration of offshore wind projects [14][39] - Companies such as Tianneng Wind Power and Mingyang Smart Energy are recommended for investment [14][39] Power Equipment - The report highlights the upcoming bidding period for power equipment and the potential for recovery in overseas markets [14][39] - Key recommendations include focusing on companies like State Grid NARI Technology and Mingyang Electric [14][39]

[Table_Title] 海外风电市场突破可期，固态电池产业化推进 证券研究报告|行业研究周报 [Table_Date] 2025 年 5 月 25 日 [Table_Title2] 电力设备与新能源行业周观察 光伏各环节尝试稳价 一方面，传统市场装机维持高位+海外新型市场需求快速释放，全 球光伏装机需求总量仍较为可观，根据 CPIA 预测，2025 年全球 光伏新增装机规模有望达到 531-583GW，乐观情况下同比增速可 达 10%；另一方面，5 月 20 日国家发改委召开新闻发布会，其中 国家发改委政策研究室副主任、委新闻发言人李超表示，国家发 改委针对内卷式竞争问题症结，因业施策、对症下药、标本兼 治，化解重点产业结构性矛盾，促进产业健康发展和升级，我们 认为，应重点关注光伏供给侧变化，具备产能规模、成本控制及 资金储备优势的头部企业有望穿越此轮行业周期。 [Table_Summary] 报告摘要 1.人形机器人 特斯拉发布 Optimus 执行家务任务视频 我们认为，随着机器人进入具身智能阶段，应用场景落地加 快，商业化有望推动人形机器人量产落地；在降本需求的驱动 下，人形机器人核心零部件的国产替 ...

Group 1: Solid-State Battery Summit Overview - The summit will focus on the significant advancements in solid-state battery technology, which is expected to revolutionize various sectors including electric vehicles, energy storage, eVTOL, AI, and consumer electronics [3] - Major domestic companies like BYD and FAW have successfully developed large-capacity solid-state battery cells exceeding 60Ah, indicating a shift from research to practical application [3] - The solid-state battery industry is facing challenges in scaling production, with a need for breakthroughs in consistency, yield rates, production efficiency, and cost [3] Group 2: Sodium Battery Summit Overview - The sodium battery market is approaching a critical point, driven by innovations in materials and applications in energy storage and transportation [10] - Leading companies such as CATL and BYD are spearheading technological advancements in sodium batteries, which are expected to accelerate their application [10] - The sodium battery industry is witnessing rapid development in production capacity, with several companies launching large-scale production lines for key materials [10] Group 3: Event Highlights - The solid-state battery summit will gather over 800 industry leaders from more than 300 companies, facilitating technical exchanges and new product showcases [5] - The sodium battery summit will feature over 100 application enterprises and provide a platform for product launches and industry insights [14] - Both summits will leverage high media exposure and online engagement, reaching over 350,000 users [6][14] Group 4: Agenda Highlights - The solid-state battery summit will cover topics such as the application of solid-state batteries in various scenarios, innovations in materials and equipment, and market trends [7] - The sodium battery summit will focus on the commercialization of sodium batteries, exploring applications in energy storage and transportation, and the competitive landscape between sodium and lithium batteries [13]

Core Viewpoint - The article highlights the advancements and innovations in the new energy equipment sector, particularly focusing on sodium batteries, solid-state batteries, and intelligent manufacturing solutions that enhance efficiency and sustainability in the lithium battery industry [2][3][33]. Group 1: Industry Events - The 2025 High-Performance Sodium Battery Industry Summit is scheduled for June 9, 2025, at the Shangri-La Hotel in Suzhou [2]. - The 2025 High-Performance Solid-State Battery Technology and Application Summit will take place on June 10, 2025, at the same venue [3]. Group 2: Key Innovations and Technologies - JiaTuo Intelligent showcased dry electrode technology solutions, including high-reliability composite aluminum current collectors and solid-state battery equipment, aiming to expand its global market presence [4][6]. - XianDao Intelligent presented a comprehensive smart manufacturing solution for solid-state batteries, covering critical processes and achieving significant efficiency improvements [7][9]. - ShangShui Intelligent introduced innovative dry electrode manufacturing equipment with AI interaction capabilities, enhancing the transition from R&D to mass production [11][13]. - HaiMuXing Laser demonstrated a laser welding online detection system that ensures high precision and traceability in the lithium battery manufacturing process [14][16]. - ShiDai GaoKe unveiled a new intelligent baking line that optimizes moisture detection and enhances production efficiency [17][19]. - DeLong Laser focused on laser precision processing technologies, including drying and cleaning solutions that significantly reduce energy consumption and space requirements [20][22]. - QingYan Electronics presented groundbreaking powder film-forming technologies, achieving high efficiency and low pollution in electrode material production [23][25]. - LeiSuo New Materials introduced low-temperature infrared technology that reduces energy consumption by 50% and accelerates production speed by 40% [29][31]. Group 3: Comprehensive Solutions - LiYuanHeng showcased a full-chain digital solution for solid-state battery production, addressing key technical challenges and enhancing energy density and cycle life [33][35]. - BoLuWei highlighted its BGL1500 roller-splitting machine, which integrates rolling and cutting functions, achieving high precision and efficiency in electrode production [37][39]. - The article emphasizes the importance of intelligent production line management systems that enhance yield rates and reduce downtime in the manufacturing process [40].