Core Viewpoint - The lithium battery market is entering a "big explosion" era driven by diverse application scenarios, with significant growth expected in both traditional and emerging sectors over the next decade [1][12]. Industry Overview - The lithium battery industry is projected to enter a TWh-level growth phase, with stable growth in the electric vehicle and energy storage markets, while emerging fields like low-altitude economy and robotics are expected to create a strategic market worth billions [1]. - Structural differentiation in market demand is reshaping the technological evolution path, focusing on energy density and ultra-fast charging in the power sector, while energy storage aims to overcome cycling decay challenges [1][12]. Material Innovation - Material innovation is breaking the boundaries between laboratory and mass production, with advancements such as nickel content in ternary materials exceeding 90%, and silicon-based anode expansion suppression solutions entering mass production verification [3]. - Leading companies are establishing competitive barriers through a rhythm of "pre-research generation, mass production generation, and reserve generation," directly influencing the distribution of market dividends [3][4]. Key Players - **Inlian Composite Fluid**: Recently launched new products aimed at addressing range anxiety, increasing energy density, and developing next-generation solid-state batteries, with plans for significant production line expansions [5][6]. - **Putailai**: This anode material giant is addressing market differentiation with enhanced artificial graphite anodes and improved natural graphite products for energy storage, while also pursuing solid-state battery collaborations [7][8]. - **Weilan New Energy**: Valued at over 15 billion, Weilan is exploring three technical routes for solid-state batteries, achieving significant milestones in energy density and cross-scenario technology migration [9][10]. Strategic Implications - The development trajectories of these companies align with the evolving demands of the lithium battery industry, with Inlian addressing basic material performance, Putailai overcoming system integration bottlenecks, and Weilan exploring ultimate form possibilities [11]. - The progression from material innovation to form revolution is reshaping the technological pyramid of the TWh era, with each breakthrough redefining industry rules [12].