Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The solid-state battery sector is transitioning from laboratory stages to mass production validation, with expectations for small batch vehicle trials by the end of 2025 and widespread trials in 2026-2027. Emerging applications in low-altitude, robotics, and AI are expected to expand the market for solid-state batteries, accelerating industrialization [24][28][30] Summary by Sections Industry Overview - The solid-state battery index increased by 3.1% during the week from November 3 to November 7, 2025, with a cumulative increase of 67.8% since December 31, 2024. In comparison, the CSI 300 index rose by 18.9% during the same period [4][10][11] Recent Developments - On November 6, 2025, Haimeixing announced it successfully established a complete production process for lithium metal solid-state batteries, securing the industry's first commercial order for high-energy lithium metal solid-state battery equipment, valued at 400 million yuan for a scale of 2GWh. The company is also advancing its full-chain layout for sulfide solid-state battery equipment [28][29] - A strategic cooperation agreement was signed between Huitian New Materials and Tailan New Energy on November 3, 2025, focusing on joint research and development of solid-state battery adhesives, addressing technical challenges such as ionic conductivity and solid-solid interface bonding [30][31] Individual Stock Performance - The top five performing stocks during the week included Huasheng Lithium Battery (+61.2%), Sanxiang New Materials (+20.6%), and Tianji Shares (+17.4%). Conversely, the stocks with the largest declines were Naconoer (-9.9%), Honggong Technology (-9.7%), and Haicheng Pharmaceutical (-9.4%) [16][20][22] Industry Dynamics - A joint venture agreement was signed on November 6, 2025, between Lichun Group's subsidiary and Kunlun New Materials to accelerate the commercialization of sulfide and oxide electrolytes through research, trial production, and equity investment [26] - The fifth xEV Battery Technology Forum and the third Solid-State Battery Technology Industry Conference were held in Shanghai on November 3-4, 2025, where industry players disclosed significant technological breakthroughs [27]

Core Viewpoint - The strategic cooperation between Huitian New Materials and Chongqing Tailan New Energy focuses on solid-state batteries and their key materials, leveraging each company's strengths in management, technology, and channels to enhance business operations and integration of production and finance [1][2]. Group 1: Strategic Cooperation Details - Huitian New Materials and Tailan New Energy have signed a strategic cooperation agreement to collaborate in the solid-state battery sector, emphasizing a full-chain cooperation system that includes research and development, supply chain, and ecosystem [1]. - The partnership will focus on joint technical challenges related to solid-state batteries, particularly in ionic conductivity, solid-solid interfaces, and adhesive bonding for positive and negative electrodes [1]. - Tailan New Energy will prioritize Huitian New Materials as a strategic supplier for adhesives, ensuring a stable supply of competitively priced products to meet production needs [1]. Group 2: Capital Cooperation and Previous Investments - The two companies plan to explore new paths for capital cooperation, including the establishment of an industrial fund to invest in high-quality targets within the solid-state battery industry, aiming for resource sharing and collaborative development [2]. - Earlier in October, Huitian New Materials participated in Tailan New Energy's B+ round financing, investing 40 million yuan, which corresponds to a 0.82% equity stake [2].

Group 1: Suspension and Resumption of Trading - Yaxing Chemical is planning to issue shares and pay cash to acquire control of Tianyi Chemical, resulting in a suspension of its stock trading [1] Group 2: Investment Cooperation and Operational Status - Hanjian Heshan signed a procurement contract for reinforced concrete drainage pipes with China Nuclear Industry Huaxing Construction, accounting for 26.29% of the audited revenue for 2024 [2] - Qiangrui Technology plans to invest 70 million yuan to acquire a 35% stake in aluminum cooling technology company Alubao, which supplies cooling modules for AI servers, GPUs, and new energy vehicle electronics [2] - Dagang Co. intends to increase its investment in chip testing company Aike Integrated by 90 million yuan, raising its stake to 78.79% [3] - Huitian New Materials signed a strategic cooperation agreement with Tailan New Energy to collaborate on adhesives for solid-state batteries [4] - Alter established a joint venture with Wuhu Hua'an to develop powertrain projects for new energy vehicles [5] - Greeenme plans to transfer 100% equity of Greeen Recycling Materials for 280 million yuan [6] - Pingzhi Information's subsidiary signed a procurement framework agreement for smart set-top box products with China Telecom [7] - Hongsheng Huayuan's subsidiary is pre-awarded a project from the State Grid worth approximately 584 million yuan [8] - Kairun Co.'s controlling subsidiary signed a 198 million yuan equipment procurement contract with Chengdu BOE [9]

回天新材(300041.SZ)公告，公司(乙方)与重庆太蓝新能源有限公司(简称"太蓝新能源"、甲方)签订了 《战略合作协议》，拟充分发挥双方在各自领域的管理、技术、渠道、平台等优势，围绕固态电池及其 关键材料领域的业务经营、产融结合等开展战略合作。 本次合作方太蓝新能源是集固态电池研发、制造、销售于一体的国家高新技术企业，多年来深耕固态电 池及关键材料领域，现已拥有超过800件固态电池相关专利，核心技术与关键工艺设备实现自主可控。 根据协议，双方将围绕固态电池领域的胶粘剂开展合作，联合攻关关键技术课题。甲方将优先开放测试 平台，为双方前沿性研究提供支持，加速科技成果产业化进程。甲方将乙方列为胶粘剂战略供应商，在 采购胶粘剂产品时优先选择乙方;乙方需保障固态电池胶粘剂的产能供应，并提供具备成本竞争力的产 品，满足甲方生产需求。 此外，在业务合作稳定推进的基础上，双方计划在未来联合设立产业基金，重点投资固态电池产业上下 游相关标的，共同构建完善的产业生态，实现资源共享与协同发展。 ...