Core Viewpoint - Enjie Co., Ltd. has launched its 5μm ultra-thin lithium battery separator, which is currently the thinnest product in mass production, showcasing advancements in separator technology and addressing industry trends for improved battery performance [1][2]. Group 1: Production and Technology - The Yuxi base of Enjie Co., Ltd. features a dedicated production line cluster for the 5μm product, designed to "Lighthouse Factory" standards, achieving digitalization, automation, and modularity [2]. - The base has a planned total of 16 production lines covering over 480 acres, with a current monthly production capacity of 19 million square meters [2]. - The 5μm separator has a puncture strength of 550gf, which is over 16% stronger than the 7μm separator, while its thickness is reduced by 28.5% and internal resistance decreased by 20.9% [3]. Group 2: Industry Trends and Demand - The lithium battery separator industry is experiencing rapid growth due to increased demand from electric vehicles and energy storage, leading to significant technological advancements and capacity expansions [3][4]. - The industry is currently facing intense competition and price declines due to concentrated supply releases and cost control efforts from downstream battery manufacturers [4]. Group 3: Strategic Positioning and Future Outlook - Enjie Co., Ltd. aims to maintain its leading position in the separator market by investing heavily in new products and focusing on technological breakthroughs [4]. - The company recognizes the potential impact of emerging battery technologies, such as all-solid-state batteries, on the lithium battery market, although these technologies are not yet commercially viable [4][5]. - Enjie Co., Ltd. is actively developing solid-state battery materials, with a focus on sulfide solid electrolytes, which constitute 36% of the total cost of solid-state batteries [6].

Investment Rating - The report maintains a positive investment rating for the renewable energy sector, particularly highlighting the solar and wind energy segments as having strong growth potential [4][5]. Core Insights - The report emphasizes that the downstream demand for renewable energy is expected to increase, leading to a potential recovery in the pricing structure of the industry [2]. - It notes that the solar industry is currently experiencing a price correction after a surge in demand, with key components like silicon materials and modules seeing price adjustments [4]. - The wind energy sector is projected to benefit from significant policy support and increased project bidding, particularly in offshore wind projects [4]. Weekly Market Review - From April 28 to May 9, 2025, the Shanghai Composite Index rose by 1.42%, while the Shenzhen Component Index and the ChiNext Index increased by 2.12% and 3.32%, respectively. The Shenwan Electric Power Equipment Index outperformed with a rise of 3.46% [12]. - Sub-sectors such as photovoltaic equipment, wind power equipment, batteries, and grid equipment saw respective increases of 2.8%, 3.85%, 4.39%, and 1.73% [12][14]. Key Sector Tracking - The report highlights specific companies to watch in the solar sector, including GCL-Poly Energy, JinkoSolar, and Sungrow Power Supply, which are expected to navigate through the current market fluctuations effectively [4]. - In the wind energy sector, companies like Goldwind Technology and Mingyang Smart Energy are recommended due to their strong market positions and growth prospects [4]. Price Data in the Industry - The report provides insights into the pricing trends of key components in the solar supply chain, indicating a downward trend in silicon prices, with current prices ranging from 34 to 36 CNY/kg, reflecting an over 8% decrease compared to the previous month [28]. - The price of N-type silicon wafers has also seen a significant drop, with the average transaction price falling below 1 CNY per piece, indicating a challenging market environment for smaller manufacturers [29][34]. Company Announcements - Notable announcements include the acquisition of 100% of Jinli Co. by Foshan Fulu Technology for a total consideration of 5.08 billion CNY, which is expected to enhance its market position [3][25]. - SAIC Motor reported a significant increase in electric vehicle sales, with a 71.7% year-on-year growth in April 2025, indicating strong demand in the electric vehicle market [26].