Core Insights - The report highlights the challenges and advancements in the design and manufacturing of isostatic pressing equipment, particularly for solid-state batteries, emphasizing the need for high structural, material, and precision standards [1][4]. Investment Highlights - Isostatic pressing technology has a wide range of applications across various industries, initially used in metals and ceramics, and now extending to aerospace, medical, automotive, and electronics sectors. The technology is categorized into cold, warm, and hot isostatic pressing, with warm isostatic pressing offering a balance between densification performance, production efficiency, and cost [2]. - Isostatic pressing can effectively address the solid-solid interface contact issues in solid-state batteries, enhancing densification and improving component contact. Warm isostatic pressing is identified as the optimal process due to its compatibility with the densification requirements of solid-state batteries, while minimizing adverse reactions at high temperatures [3]. - The market for isostatic pressing equipment in solid-state battery production is projected to reach approximately 2.9 billion yuan by 2029, with an estimated value contribution of around 13% to the production line [3]. Challenges - Current isostatic pressing equipment faces bottlenecks in safety and production capacity, with significant challenges in chamber design, temperature/pressure control systems, and overall safety assurance. These factors hinder the scalability of isostatic pressing for solid-state battery production [4]. - Enhancements in production efficiency can be achieved through process optimizations, increasing the pressure vessel volume, and adopting horizontal chamber structures to facilitate automation in solid-state battery production lines [5]. Investment Recommendations - The report recommends focusing on solid-state battery equipment suppliers such as XianDiao Intelligent, while also suggesting attention to suppliers like LiYuanHeng, NaKonoEr, and others involved in isostatic pressing equipment [5].

Core Viewpoint - The report from Dongwu Securities highlights the industrial potential of warm isostatic pressing (WIP) technology for solid-state battery densification, indicating a significant market opportunity by 2029 with an expected value of 2.9 billion yuan [1][4]. Group 1: Isostatic Pressing Technology - Isostatic pressing technology has a wide range of applications across various industries, including aerospace, medical, automotive, and electronics, due to its advantages in densification and uniformity [2]. - The technology is categorized into cold, warm, and hot isostatic pressing, with warm isostatic pressing achieving a balance between densification performance, production efficiency, and cost [2]. Group 2: Application in Solid-State Batteries - Isostatic pressing can effectively address solid-solid interface contact issues in solid-state batteries, enhancing densification and improving component contact quality [3]. - Warm isostatic pressing is identified as the optimal process for solid-state battery densification, as it meets the temperature and pressure requirements while minimizing adverse reactions and energy costs [3]. Group 3: Industry Players and Market Dynamics - Traditional isostatic equipment manufacturers, such as Quintus and domestic firms like Chuanxi Machinery and Steel Research, are leveraging high-pressure technology to accelerate the transition to solid-state battery applications [4]. - Cross-industry players, including battery manufacturers and equipment suppliers like Xian Dao Intelligent and Liyuanheng, are redefining equipment based on downstream production line experiences, facilitating the industrialization of solid-state battery isostatic pressing [4]. Group 4: Challenges in Production - Current challenges in isostatic pressing equipment for solid-state batteries include design complexities, safety concerns, and limited production capacity, which hinder large-scale manufacturing [5]. - Enhancements in pre-treatment processes, pressure vessel volume, and automation can improve production efficiency and integration into solid-state battery production lines [5]. Group 5: Recommended Companies - Key recommendations include solid-state battery equipment suppliers like Xian Dao Intelligent (300450.SZ) and Liyuanheng (688499.SH), as well as companies involved in isostatic pressing equipment such as Nakano (832522.BJ) and Chuanxi Machinery [6].