倒计时49天 2025（第十五届）高工锂电年会 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 英联复合集流体、逸飞激光、华视集团、欧科工业空调 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 高工锂电梳理， 截至 9 月， 锂电产业链 涉及终止、暂停或延期的项目累计超过 20 个，投资总规模逾 1100 亿元。终止、调整的范围几乎覆盖了 负极、电解液、正极、三元材料、隔膜、电池、储能乃至固态电池等各环节。 周期拐点上 出现 必然收缩。在快速膨胀的上行周期中， 2025 年 " 扩张与收缩并行 "。 据高工产业研究院（ GGII ）统计， 2025 年 1 - 8 月，中国锂电产业链新签约、开工扩产项目达 183 个，总投资额约 4000 亿元，主攻高压实 磷酸铁锂、高镍三元、固态等高端技术路线。 而与此同时，部分中低端产能却被迫按下暂停键，甚至彻底退出。一边是高端产能加速上马，一边是低端产能加速出清，行业进入残酷的结构性淘汰 阶段。 从整体趋势看，至少有四个特征已经 ...

Core Viewpoint - The lithium battery industry is experiencing a significant downturn, impacting even leading companies like XianDao Intelligent, which has seen a dramatic decline in revenue and profit [1][3][6]. Financial Performance - XianDao Intelligent's revenue has decreased for four consecutive quarters, with a net profit of 286 million yuan in 2024, down 83.88% year-on-year, and continuing to decline by 35.30% in Q1 2025 [1][3]. - The overall revenue of 108 Chinese lithium battery companies fell by 11.87% in 2024, with net profit dropping by 67.27%, marking two consecutive years of significant decline [3][4]. - Key financial metrics for 2024 include total assets of 29,092.41 million yuan (up 6.17%), total liabilities of 16,721.07 million yuan (up 7.31%), and a net profit of 651.92 million yuan (down 67.27%) [5]. Industry Trends - The lithium battery industry's rapid growth phase is over, with a historic downturn affecting both domestic and international players [3][6]. - Major international battery manufacturers, including LG Energy Solution and SK On, reported losses in Q4 2024, indicating widespread challenges across the sector [6]. - The global lithium battery market is projected to grow significantly, with a compound annual growth rate of 25.2% expected from 2024 to 2030 [28]. Company Strategy - XianDao Intelligent is focusing on high-end production capabilities, particularly in solid-state batteries, which are seen as the future of battery technology [12][15]. - The company has secured over 100 million yuan in orders for solid-state battery equipment in 2024, indicating a strategic pivot towards advanced technologies [12][13]. - XianDao Intelligent has established a global presence, with operations in multiple countries and a significant increase in overseas revenue, which reached 2.831 billion yuan in 2024, accounting for 23.88% of total revenue [30][31]. Customer Relationships - The relationship with major clients, particularly CATL, has been crucial for XianDao Intelligent, although recent share reductions by CATL have raised concerns about future collaboration [16][17]. - The company has faced challenges with customer payment cycles, as evidenced by an increase in accounts receivable turnover days to 278.98 days in 2024, indicating delayed payments [21][22]. Market Dynamics - The lithium battery industry is witnessing a wave of project cancellations and delays, with significant investments being halted or re-evaluated due to market conditions [36][37]. - The competitive landscape is shifting, with domestic companies facing overcapacity issues while international players are more cautious in their expansion strategies [39][40].