Market Overview - On the last trading day of July, all three major A-share indices fell collectively, with the Shanghai Composite Index down 1.18% to 3573 points, the Shenzhen Component Index down 1.73%, and the ChiNext Index down 1.66% [1] - The total trading volume for the day was 1.96 trillion yuan, an increase of 90.9 billion yuan compared to the previous trading day, with nearly 4300 stocks declining across the market [1] Sector Performance - The steel sector declined, with Baogang Co. falling nearly 8% [1] - Coal stocks experienced widespread declines, with Antai Group down nearly 7% [1] - The aquaculture sector weakened, led by Zhongshui Fisheries [1] - Lithium mining concepts showed volatility, with companies like Shengxin Lithium Energy and CATL down nearly 5% [1] - Other sectors with significant declines included titanium dioxide, photovoltaic equipment, shipbuilding, minor metals, and duty-free concepts [1] Positive Movements - The liquid cooling concept rose against the trend, with stocks like Cambridge Technology, Chunz中科技, and Ice轮环境 hitting the daily limit [1] - The inclusion of assisted reproductive technology in medical insurance across 31 provinces boosted the assisted reproduction sector, with stocks like Anke Bio and Hanshang Group hitting the daily limit [1] - The composite fluid sector was active, with Nord Shares reaching the daily limit [1] - Other sectors with notable gains included gene sequencing, AI, and state-owned cloud concepts [1] Index Performance - Shanghai Composite Index: 3573.21, down 42.51 points (-1.18%) [1] - Shenzhen Component Index: 11009.77, down 193.26 points (-1.73%) [1] - ChiNext Index: 2328.31, down 39.37 points (-1.66%) [1] - Other indices such as the Sci-Tech 50 and CSI 300 also showed declines [1]

Group 1 - The Hurun Research Institute recently released the "2025 Global Unicorn List," highlighting non-public companies founded after 2000 with a valuation of over $1 billion [1] - Yangzhou Nali New Materials Technology Co., Ltd. made its debut on this prestigious global list due to its research and breakthroughs in the field of composite electrolytes [1] - The total number of unicorn companies worldwide reached 1,523, marking a historic high, with Chinese companies accounting for 343, ranking second globally [1] Group 2 - Among the 63 global unicorns in the renewable energy sector, Chinese companies hold more than half of the positions, totaling 34 [1]

Core Viewpoint - The 2025 High-Performance New Energy Materials Industry Conference will focus on the acceleration of composite conductive materials in the lithium-ion battery sector, highlighting the strategic partnership between Yinglian Composite Conductive Materials and a leading global polymer lithium-ion battery manufacturer [1][2]. Group 1: Industry Developments - The composite conductive materials industry is experiencing accelerated industrialization, with Yinglian's partnership with a top consumer battery manufacturer seen as a key move into the consumer electronics lithium battery supply chain [1]. - Yinglian's new factory in Jiangsu is set to produce 1 billion square meters of composite aluminum foil and 5 billion square meters of composite copper foil, positioning the company among the global leaders in production capacity [2]. Group 2: Technological Innovations - Yinglian's core products utilize a "PET base film + metal layer" sandwich structure, achieving significant technical breakthroughs with a metal layer thickness of only 2.5μm for composite copper foil and 4.5μm for composite aluminum foil [2]. - The safety of Yinglian's composite conductive materials has been enhanced, passing 100% puncture tests to ensure they do not smoke, catch fire, or explode [2]. - The lightweight design of the battery system has resulted in a 13.8% increase in energy density [2]. Group 3: Reliability and Manufacturing Solutions - The corrosion rate of composite copper foil after 72 hours of immersion at 80℃ is consistent with traditional copper foil, while composite aluminum foil shows no corrosion after 120 hours in electrolyte at 85℃, meeting the durability requirements for power batteries [3]. - Yinglian has validated dual solutions for welding challenges in composite conductive materials, focusing on material thinning and ultra-thin material welding to address process compatibility issues [4].

Core Viewpoint - Jiemai Technology's subsidiary, Roushen Technology, has signed a strategic cooperation framework agreement with a solid-state battery manufacturer to jointly develop high-safety lightweight composite electrolyte products, which is expected to positively impact the company's future development [1] Group 1: Agreement Details - The strategic cooperation framework agreement was signed on May 14, 2025 [1] - The collaboration will involve joint design, development, and manufacturing of products based on demand [1] - The agreement is not expected to have a significant impact on the company's operating performance for the current year [1] Group 2: Company and Industry Position - Roushen Technology is recognized as a leading enterprise in the composite electrolyte industry, possessing capabilities in research, production, and sales [1] - The solid-state battery manufacturer focuses on developing next-generation high-safety and high-energy solid-state power and energy storage batteries [1] - The partnership aims to enhance the competitiveness and market share of both parties, fostering a win-win and sustainable strategic relationship [1]