Core Viewpoint - The company emphasizes its commitment to research and development in the solid-state battery materials sector, focusing on the development of cathode materials and solid electrolytes [1] Group 1: Solid Electrolyte Materials - The company has successfully developed composite solid electrolyte materials with small particle size (nanometer level), good air stability, high ionic conductivity, and excellent dispersibility [1] - The company has achieved stable production at a ton-level scale and sees promising applications in the modification and upgrading of existing ternary materials, solid-state batteries, and semi-solid batteries [1] - Collaborations have been established with major companies such as CATL, ATL, and Toyota to advance product validation and the construction of a pilot production line with an annual capacity of hundreds of tons [1] Group 2: Cathode Materials for Solid-State Batteries - The company has developed high nickel and ultra-high nickel materials suitable for solid-state battery systems, which offer higher energy density, better cycling performance, and enhanced safety [1] - The ultra-high nickel 9 series has achieved a shipment level of hundreds of tons [1] - High-capacity lithium-rich manganese-based materials suitable for solid-state batteries have been sampled to multiple customers [1]

截至2025年9月5日收盘，振华新材（688707）报收于15.98元，较上周的15.4元上涨3.77%。本周，振华 新材9月5日盘中最高价报16.07元。9月4日盘中最低价报14.47元。振华新材当前最新总市值81.3亿元， 在电池板块市值排名59/95，在两市A股市值排名2217/5152。 本周关注点 机构调研要点 公司今年上半年业绩下滑主要受产品销售价格承压、原材料价格波动、下游需求结构性变化、产能利用 率不足及期间费用刚性支出增加等因素影响。 公司下半年将坚持"稳固基本盘、开拓新增量、聚焦降本增效"的总体战略，重点推进技术创新与产品迭 代、优化市场与客户结构、深化降本增效与精益管理、审慎推进产能建设与海外布局。 公司已成功开发出具备纳米级粒径、高离子电导率、良好空气稳定性与分散性的复合固体电解质材料， 实现吨级稳定制备，并正推进年产百吨级中试线建设，已与宁德时代、新能源科技（TL）、上汽清 陶、孚能科技、丰田等企业建立合作。 公司开发的适配固态电池体系的超高镍9系正极材料已实现百吨级出货，高容量富锂锰基材料已向多家 客户送样。 百吨级出货意味着产品已在客户端定型并进入批量量产阶段，为规模化应用做准备 ...