Core Viewpoint - The Chinese lithium battery industry is experiencing a resurgence after a downturn, with significant capital market activities indicating a renewed expansion cycle and competitive landscape in the upstream equipment sector [3][4][5]. Group 1: Market Dynamics - Key leading indicators, such as capital expenditures from major battery manufacturers like CATL, have shown strong recovery signals, with quarterly capital expenditures returning to over 10 billion RMB [4]. - Total capital expenditures in the lithium battery sector have rapidly rebounded since Q2 2024, driven by a recovery in downstream demand, particularly in the energy storage battery market [5]. - The Chinese lithium battery equipment market is projected to recover from 66 billion RMB in 2024 to 85 billion RMB by 2027, with the global slurry feeding equipment market expected to grow at a compound annual growth rate of approximately 26% from 2025 to 2027, reaching 9 billion RMB [5]. Group 2: Competitive Landscape - The market concentration in the slurry feeding equipment sector has increased significantly, with the top three companies' market share rising from less than 60% to over 70% within a year [5]. - Liqi Intelligent has achieved a market share of 43% in the lithium battery slurry feeding system market, leading the industry [6]. - Honggong Technology and Shangshui Intelligent hold approximately 15% and 13% market shares, respectively, indicating a trend where downstream battery manufacturers prefer suppliers with strong technical capabilities and stable product performance [6]. Group 3: Strategic Differentiation - Liqi Intelligent focuses on "extreme specialization" in the slurry mixing process, gaining recognition from global clients such as CATL and BYD [7]. - Honggong Technology adopts a strategy of "upstream integration," extending its business to the production of anode and cathode materials to build integrated advantages [7]. - Shangshui Intelligent is pursuing a "downstream extension" strategy, expanding its product line to include subsequent processes like coating and rolling, providing a more comprehensive solution [7]. Group 4: Future Outlook - The recent wave of IPOs among these companies is driven by the need to secure funding for the next generation of battery technologies, particularly solid-state batteries [8][9]. - The transition from traditional wet processes to new dry processes presents significant technical challenges, and the companies are investing heavily in these areas to maintain competitive advantages [8]. - The reliance on a concentrated customer base, particularly major players like CATL and BYD, poses potential risks to business stability [8].

Core Viewpoint - The stock of Delixi New Energy Technology Co., Ltd. experienced abnormal trading fluctuations, with a cumulative closing price increase exceeding 20% over two consecutive trading days on June 6 and June 9, 2025, prompting a notice to investors regarding potential risks [1][4]. Group 1: Stock Trading Abnormalities - The company's stock price increased significantly, leading to a classification of abnormal trading behavior according to Shanghai Stock Exchange regulations [1]. - The company confirmed that there are no undisclosed significant information that could affect stock trading prices [2][4]. Group 2: Company Operations and Financial Performance - The company does not directly produce solid-state batteries, although its subsidiary provides precision molds for lithium battery production, with less than 1% of total revenue from solid-state battery-related products in 2024 [2]. - For the fiscal year 2024, the company reported a revenue of 364.184 million yuan, a decrease of 35.22% year-on-year, and a net loss of 151.067 million yuan [3]. Group 3: Management and Shareholder Actions - The company's vice president reduced his holdings by selling 26,000 shares, representing 0.011% of the total share capital, on June 9, 2025 [3]. - No other significant trading activities by directors, supervisors, or major shareholders were reported during the abnormal trading period [4].

Business Growth and Strategy - The company focuses on its core business areas to enhance profitability by strengthening cooperation with both new and existing customers, optimizing product structure, and expanding sales channels [3] - The main business segments include LED lighting, UV disinfection, automotive lighting, lithium battery production equipment, and information security and system integration [3] Revenue and Partnerships - The company has recently become a supplier for Sunac Group's indoor lighting centralized procurement for 2025-2027, but specific sales data and procurement amounts remain uncertain [4] - The board aims to achieve profitability by implementing strategic measures such as expanding customer cooperation, optimizing product structure, and reducing costs [5][15] Financial Performance and Goals - The company is committed to improving its financial situation to remove the risk warning for stock trading by enhancing operational performance and ensuring net profit turns positive [5][9][15] - The goal for 2026 includes achieving a main business revenue exceeding 300 million [14][15] Cost Control Measures - The company has implemented several cost control measures, including centralized procurement, innovation in research and development, and improving production efficiency to reduce costs [8] - Budget constraints are strictly enforced to manage expenses effectively [8] Future Developments - The company is exploring quantum technology development through its subsidiary, which has created various quantum security products for multiple sectors [6] - Plans for IDC computing power transformation are underway, with the company actively pursuing related business opportunities [7][12] Shareholder Communication - The company encourages investor feedback and aims to maintain transparent communication regarding its operational performance and strategic direction [10][17]

Group 1: Company Development Plans - The company aims to focus on breakthroughs in solid-state battery technology, enhancing production efficiency and performance to meet market demands for high energy density and safety [3] - Plans include deepening the layout of negative electrode materials and scaling up the application of silicon-carbon materials to enhance competitiveness in key lithium battery materials [3] - Development of lithium resources and rare metals through low-temperature sulfuric acid production lines to strengthen upstream resource security [3] - Establishing a circular economy system by improving battery recycling processes and promoting resource recycling [3] - The company will leverage technological innovation and equipment upgrades to become a core competitive player in the new energy sector [3] Group 2: Financial Challenges and Strategies - The company faces significant challenges with declining revenue and net profit, high debt ratios, and cash flow pressures due to long accounts receivable periods [4][7] - Measures to address these challenges include enhancing risk awareness regarding bad debts, optimizing product structures, and increasing R&D investments in subsidiaries [4] - The first quarter inventory increased by 33% year-on-year, primarily due to increased orders for lithium battery equipment [5] - The company reported a 33% decline in total revenue for 2024, with lithium battery equipment revenue dropping from 55% to 47% [8] Group 3: Market Expansion and Opportunities - The company plans to expand into overseas markets by leveraging partnerships with domestic battery manufacturers and participating in international industry exhibitions [6] - Future growth points include focusing on solid-state battery technology, negative electrode material development, and the construction of a circular economy [6][9] - The company is addressing the challenges of high customer concentration and industry growth slowdown by enhancing technology and product offerings [9] Group 4: R&D and Innovation - In 2024, the company invested approximately 89.29 million CNY in R&D, accounting for 5.92% of total revenue, which has facilitated breakthroughs in various technology fields [12] - The company has developed a series of intelligent manufacturing equipment for lithium (sodium) batteries, enhancing production efficiency [13] - The low-temperature sulfuric acid method significantly reduces waste generation compared to traditional methods, promoting sustainable practices [8] Group 5: Future Industry Outlook - Despite challenges in 2024, the lithium battery equipment industry is expected to see positive trends driven by the rapid development of the new energy vehicle market [11] - Emerging applications in semi-solid and solid-state batteries will create new growth opportunities [11] - The company’s low-temperature sulfuric acid lithium extraction technology is internationally leading and could change industry standards if widely adopted [11]

22002255起起点点锂锂电电圆圆柱柱电电池池技技术术论论坛坛 暨暨圆圆柱柱电电池池2200强强排排行行榜榜发发布布会会 2025年2月28日，以" 聚集新技术 探索新工艺 "为主题的行业首届圆柱电池技术—— 2025起点锂电圆柱电池技术论坛暨圆柱电池20强排 行榜发布会 ，将在深圳宝安登喜路国际酒店正式举办，届时将邀请200+圆柱电芯及应用、300+电池材料设备配套企业共聚盛会，探索新市 场。 国内首创涂辊分智能生产线 锂电池动力极片生产,关键设备是涂布机、对辊机和分条机,其中涂布机是实现极片村料高精度涂布,对辊 机是实现极片高精密度压片成高能紧密度极片、分条机是将极片根据电池大小需求,分条成要求的宽度,在国内 目前,基本上是实现了对辊分条一体机技术,但是从提高产品质量和效率,实现涂布与辊分一体连机将是更能提 升效率和提高产品质量性能，该设备技术的难点比如高速涂布的启动与对辊机的无缝对接等技术，我们经过多次 论证和设计、实验、现在开发出了国内首创技术的涂辊分一体智能技术。 达力涂布-辊压-分条智能生产线是用于锂离子电池极片生产的前段设备,其主要组成:双面挤压涂布、油加 热辊压机以及自动接带收卷分条机组成; ...