Market Overview - The three major indices experienced a decline, with the ChiNext Index dropping by 1.1% and over 4600 stocks in the market showing negative performance [1][3] - The Shanghai Composite Index fell by 0.86%, the Shenzhen Component Index decreased by 1.01%, and the North China 50 Index also saw a nearly 1% drop, with trading volume exceeding 800 billion, an increase of over 40 billion compared to the previous day [3] Economic Factors - Recent macroeconomic data has shown signs of pressure, leading to hesitance in market recovery expectations [3] - Popular sectors such as AI and weight-loss drugs are experiencing corrections, prompting funds to shift towards defensive sectors [3] - External market instability has also contributed to negative sentiment in the domestic market [3] Sector Performance - Solid-state batteries, PCB, and oil sectors saw gains, with stocks like Nord and Xiangtan Electric achieving limit-up [3] - The solid-state battery sector is gaining attention due to recent technological breakthroughs and a reasonable valuation after previous adjustments in the new energy sector [3] - The oil sector's rise may be linked to geopolitical tensions in the Middle East, particularly the potential for U.S. actions against Iran, leading to short-term oil price volatility [3] Declining Sectors - The nuclear fusion, military, and weight-loss drug sectors faced significant declines, with Changshan Pharmaceutical hitting the limit down and Hanyu Pharmaceutical dropping over 10% [4] - The military sector's adjustment is attributed to a lack of new catalysts, leading to fund withdrawals [4] - The nuclear power sector saw stocks like Hezhan Intelligent and China Nuclear Technology hitting the limit down, possibly due to negative news from specific companies [4] Investment Strategy - In a broad market decline, it is essential to maintain a calm mindset and focus on identifying quality stocks [4] - Long-term investors should prioritize company fundamentals and industry prospects over short-term price fluctuations [4] - The solid-state battery sector is highlighted as a promising long-term investment, while caution is advised in the weight-loss drug sector due to speculative trading [4]

Group 1 - The smart connected vehicle ETF (159872.SZ) increased by 1.10%, with its associated index, CS Vehicle Networking (930725.CSI), rising by 1.02% [1] - Key component stocks included: O-film Technology up 7.17%, Hongfa Technology up 4.33%, BYD up 2.69%, Huayang Group up 4.47%, and CATL up 1.27% [1] - Guoxuan High-Tech recently held the 2025 Global Technology Conference, announcing the completion of a 0.2GWh all-solid-state battery pilot line and the launch of six new products, which has led to a surge in solid-state battery concept stocks [1] Group 2 - The expectation of technological breakthroughs in the new energy industry chain, including CATL, has boosted the performance of smart connected vehicle ETF component stocks [1] - According to research from China Merchants Securities, unmanned logistics is expected to be the fastest application scenario for autonomous driving, with the introduction of management regulations facilitating the economic viability of unmanned logistics vehicle operations [1] - The unmanned logistics sector is projected to open up a market exceeding 100 billion [1]

Core Viewpoint - The Fourth Solid-State Battery Conference and Silicon-Based Anode Industry Innovation Conference aims to accelerate commercialization and upgrade the industry chain in the context of global energy transition and emerging markets such as electric vehicles and AI [1]. Group 1: Conference Overview - The conference will be held from July 3-5, 2025, in Ningbo, Zhejiang, focusing on solid-state batteries and silicon-based anodes, addressing the core demands of low cost and high performance [1]. - The event will feature top experts, entrepreneurs, and capital market participants to share innovations and explore deep cooperation [1]. Group 2: Key Participants and Innovations - Dongfeng Motor Corporation has made significant advancements in solid-state battery technology, showcasing a semi-solid-state battery and planning to test full solid-state batteries in models by August 2025, aiming for over 1000 km range [2][3]. - GAC Aion is focusing on solid-state battery development, with plans to disclose progress at an upcoming technology day, emphasizing the importance of core technology breakthroughs [4]. - Zhongke Goneng has developed the world's first rollable sulfide solid-state electrolyte membrane, marking a significant milestone in mass production capabilities [5]. - Wanxiang OneTwoThree has achieved safety breakthroughs in semi-solid-state battery technology, with a self-developed energy density of 350 Wh/kg [6]. - Jinyu New Energy has introduced high-power semi-solid-state batteries and a no-anode battery series, achieving energy densities exceeding 300 Wh/kg [7]. - Jiangsu Guxin Energy focuses on solid-state batteries for specialized applications, producing batteries that can operate in extreme temperatures and have high energy density [8]. - Sichuan Huayi Qing Innovation Materials specializes in low-cost, high-capacity silicon-based materials for lithium-ion batteries, recently completing a financing round to enhance R&D [9]. Group 3: Conference Agenda Highlights - The conference will include roundtable discussions on the current status of solid-state battery industrialization and applications, advancements in solid-state sodium batteries, and key material developments [14]. - Special sessions will focus on the industrialization of silicon-based anodes and innovative preparation methods for low-cost porous carbon [14].

Core Viewpoint - The battery sector is experiencing significant growth driven by technological advancements and increasing demand, particularly in the solid-state battery segment, which is expected to enter mass production by 2026 [4][5]. Group 1: Market Performance - The Battery 50 ETF (159796) has shown a positive trend, currently up by 0.75%, with technical indicators suggesting bullish momentum [1]. - The underlying index components of the Battery 50 ETF have mostly risen, with notable gains from companies like Sungrow Power (over 3% increase) and others like Kehua Data and Nari Technology (over 2% increase) [3]. Group 2: Growth Potential - The photovoltaic sector has seen substantial growth, with new installations reaching 20.24 GW in March, a year-on-year increase of 124%. The total installed capacity reached 950 million kW, up 43.4% year-on-year [3]. - The battery industry is characterized by both cyclical and growth traits, with new products and technologies being launched, indicating a rapid development phase [3]. Group 3: Technological Advancements - Solid-state battery technology is advancing, with several companies announcing significant developments, including Vivo's semi-solid blue sea battery and GAC Aion's large-capacity solid-state cell [4]. - The transition from laboratory research to pilot production for solid-state batteries is underway, with mass production expected to begin around 2026, coinciding with new national standards that may enhance adoption rates [4]. Group 4: Supply and Demand Dynamics - In Q1 2025, the demand for power batteries surged, with a year-on-year increase of 52.8% in installation volume. The total production and sales of batteries reached 326.3 GWh and 285.8 GWh, respectively, marking growth rates of 74.9% and 73.7% [5]. - The energy storage sector is shifting from mandatory storage to value creation, enhancing competition and safety standards within the industry [5].