Core Viewpoint - The company, as a global leader in the lithium battery materials industry, has been actively developing solid-state lithium battery materials technology, covering various technical routes including sulfides, oxides, and halides, with significant advancements in both semi-solid and all-solid materials [1][2] Group 1: All-Solid State Materials - The company offers a range of all-solid-state cathode materials, including high nickel single crystal and polycrystalline series, and is collaborating with domestic and international battery and automotive companies for development [1] - The high nickel multi-component materials developed for all-solid-state applications have performance metrics (cycle life, capacity) approaching that of liquid batteries, with energy density exceeding 400 Wh/kg, significantly surpassing current liquid battery levels [1] Group 2: Semi-Solid State Materials - The company has a longer history in developing semi-solid state cathode materials, utilizing ultra-high nickel multi-component systems, which demonstrate high safety through various tests such as puncture and 200°C thermal box tests [1] - The semi-solid lithium battery cathode materials are widely applied in electric vehicles, drones, eVTOL, and humanoid robots, achieving shipments in the thousand-ton range [1] Group 3: Solid-State Electrolytes - The company focuses on sulfide halide electrolytes, having pioneered the research and development of a new type of chloroiodine composite sulfide electrolyte, which maintains high ionic conductivity while reducing the pressure for all-solid-state batteries to below 5 MPa, facilitating industrialization [2] - In addition to sulfide electrolytes, the company is developing low-cost, high-voltage window halide electrolytes to adapt to higher voltage lithium-rich manganese-based materials, currently in the stabilization preparation phase [2] Group 4: Comprehensive Solutions - The company does not merely produce electrolytes or cathode materials but provides a comprehensive solution for solid-state battery clients, including a specialized interface layer between cathode materials and solid-state electrolytes to enhance performance [2] - With strong technical accumulation, rich customer resources, and ample financial support, the company has established a complete product system in the solid-state lithium battery materials sector, with performance indicators at the industry-leading level and products already in mass supply to clients [2]

Core Viewpoint - The company, as a global leader in the lithium battery materials industry, has been actively developing solid-state lithium battery materials technology, covering various technical routes including sulfides, oxides, and halides, with significant advancements in both semi-solid and all-solid materials [1][2] Group 1: Solid-State Battery Materials - The company has developed all-solid-state cathode materials, including high-nickel single crystal and polycrystalline series, which are currently being co-developed with domestic and international battery and automotive clients [1] - The high-nickel multi-component materials specifically designed for all-solid-state applications have achieved performance levels in cycling and capacity that are close to those of liquid batteries, with an energy density exceeding 400 Wh/kg, significantly surpassing current liquid battery energy density levels [1] - The semi-solid cathode materials, developed earlier, utilize ultra-high nickel multi-component systems and demonstrate high safety through various tests, including puncture and 200°C thermal box tests [1] Group 2: Electrolyte Development - The company focuses on sulfide halide electrolytes and has pioneered the research and development of a new type of chloroiodine composite sulfide electrolyte, which maintains high ionic conductivity while reducing the pressure for all-solid-state batteries to below 5 MPa, positively impacting industrialization [2] - In addition to sulfide electrolytes, the company is developing low-cost, high-voltage window halide electrolytes to accommodate higher voltage lithium-rich manganese-based materials, which are currently in the stabilization preparation phase [2] - The company provides comprehensive solutions for solid-state battery clients, including a specialized interface layer between cathode materials and solid-state electrolytes, enhancing the performance of both components [2] Group 3: Market Position and Product Offering - The company has established a complete product system in the field of solid-state lithium battery materials, including solid-state cathode materials, solid-state electrolytes, and specialized interface layers, with performance indicators at the industry-leading level [2] - The relevant products have already been supplied in bulk to clients, and the company is at the forefront of commercial application in the industry [2]

Core Viewpoint - The solid-state battery market is experiencing significant growth, with companies like Weilan New Energy poised to become major players by 2025, potentially surpassing existing leaders in the industry [1] Group 1: Weilan New Energy - Weilan New Energy is co-founded by prominent figures from the Chinese Academy of Engineering and the Chinese Academy of Sciences, making it the only industrialization platform for solid-state battery technology in China [1] - The company has achieved a milestone by mass-producing the world's first solid-state battery with an energy density of 360Wh/kg in 2023 [1] - Weilan has secured partnerships with major companies such as Huawei and Xiaomi, indicating strong market confidence and investment backing [1] Group 2: Strategic Partnerships - Lianhong New Science has a joint venture with Weilan New Energy, holding a 51% stake, focusing on the development and production of solid-state batteries and key functional materials [3][4] - Enjie Co., Ltd. has signed a framework agreement with Weilan, expecting to supply 300 million square meters of semi-solid battery separators and 100 tons of all-solid-state electrolytes from 2025 to 2030, which will cover 80% of Weilan's material needs [5] - Huayou Cobalt has entered a strategic cooperation agreement with Weilan, prioritizing joint development of cathode materials based on Weilan's product requirements [5] Group 3: Market Position and Future Prospects - Weilan New Energy is positioned to lead in the next-generation battery technology, having achieved a breakthrough in the production of lithium sulfide (Li₂S) with a pilot project set to start in 2025 [5] - The company has a significant market share in battery-grade lithium carbonate, reaching 54% in the domestic market as of mid-2025, indicating its strong competitive position [5]

Core Viewpoint - The article emphasizes the strategic approach of Enjie Co., Ltd. in the lithium battery separator industry, focusing on high technology, quality, efficiency, and long-termism to build competitive advantages in a challenging market environment [2][3]. Industry Characteristics - The separator industry is characterized by "high investment, high risk, high technical barriers, and long verification cycles" [2][3]. - Enjie Co., Ltd. has established its own version of "high technology, high quality, high efficiency, and adherence to long-termism" as a response to these industry characteristics [2][3]. Company Strategy - Enjie Co., Ltd. is optimizing liquid battery separators while proactively laying out solid-state materials to maintain technological leadership [2][9]. - The company aims to avoid price competition by building global production capacity and systematic technological iterations [5][6]. - Enjie Co., Ltd. has over 11 billion square meters of separator production capacity, which could stretch from Earth to the Moon and back 14 times if made into a 1-meter wide strip [4]. Technological Innovation - The company has pioneered online coating technology, significantly improving production efficiency by reducing the number of production steps [4]. - Enjie Co., Ltd. offers over 130 types of separator products to meet diverse customer needs and enhance customer loyalty through customized product development [4][6]. - The company is focused on three main drivers for separator evolution: increasing energy density, upgrading safety standards, and enhancing fast-charging capabilities [6]. Market Dynamics - The lithium battery separator market is experiencing intense competition, with prices declining due to increased supply and cost control measures from downstream battery manufacturers [5][6]. - A recent consensus among separator manufacturers aims to optimize supply-demand relationships and prevent "bad money driving out good" by agreeing on price discipline and capacity management [5][6]. Future Outlook - Solid-state batteries are seen as the next significant advancement in battery technology, with Enjie Co., Ltd. actively investing in this area despite the potential risk of diminishing the need for separators [7][9]. - The company is developing cost-reduction strategies for solid-state electrolytes while acknowledging that liquid batteries will continue to dominate the market for the foreseeable future [8][9].