中银证券近日发布固态电池系列报告之三：固态电池作为新能源汽车动力电池的下一代 技术，在安全性、能量密度上具备显著优势，受到政策大力支持。随着固态电池技术和产业 化不断成熟，其在新能源汽车上的需求量有望高速增长。在政策和市场驱动下，固态电池量 产将提速，技术和产业升级有望对现有生产设备形成替代，固态电池产线设备作为产业链先 行者，有望率先受益。 评级面临的主要风险 以下为研究报告摘要： 固态电池作为新能源汽车动力电池的下一代技术，在安全性、能量密度上具备显著优 势，受到政策大力支持。随着固态电池技术和产业化不断成熟，其在新能源汽车上的需求量 有望高速增长。在政策和市场驱动下，固态电池量产将提速，技术和产业升级有望对现有生 产设备形成替代，固态电池产线设备作为产业链先行者，有望率先受益。维持行业强于大市 评级。 支撑评级的要点 政策和市场双轮驱动，固态电池量产继续提速：2024年以来，中央部委和地方政府相继 将固态电池列为战略新兴产业重点发展方向，鼓励产业链协同攻关，多地出台专项扶持政 策，支持固态电池研发和产线建设。同时，产业链内部协同效应增强，设备和材料厂商均在 积极推进量产。多方共同推动下，固态电池呈现政策 ...

Core Viewpoint - The article highlights the advancements in solid-state battery production, emphasizing the delivery of dry process preparation equipment and the significant investment in production lines compared to lithium batteries [1]. Group 1: Equipment and Production - Solid-state battery production line equipment delivery has commenced, with dry process preparation equipment accounting for 30%-40% of the production line investment [1]. - The investment in production lines is reported to be double that of lithium batteries, indicating a strong market shift towards solid-state technology [1]. - Two companies have successfully developed dry process electrode membranes and dry roller press equipment, showcasing their comprehensive layout in the front-end and mid-stream sectors [1]. Group 2: Technology and Market Potential - The metal lithium anode technology route is considered more definitive compared to sulfide lithium electrolyte, suggesting a clearer path for development [1]. - The performance growth of metal lithium anode products from two companies is expected to be more certain, indicating a promising market outlook for these technologies [1].