方明博士参加决赛路演 本次大赛以"创新协同聚动能 共享长江新未来"为主题，覆盖范围从首届的16个省份扩展至26个省市及 香港特别行政区，聚焦高价值专利产业化落地，搭建起创新成果与产业需求精准对接的高端平台。大赛 设金奖5名、银奖10名、铜奖50名，将分别获得5万元、3万元和1万元的奖金。 本次获奖项目是由九江德福科技知识产权管理部统筹组织，珠峰实验室江泱博士、方明博士等9人研发 团队共同实施完成。项目聚焦的多孔铜箔，是动力电池行业顶尖厂家青睐的高端锂电铜箔品类，更是衡 量锂电铜箔企业技术先进性的标杆产品。 近日，第二届长江经济带高价值专利转化运用大赛在江西九江圆满落幕。九江德福科技股份有限公司 （以下简称"德福科技"）携"全固态电池多孔铜箔关键技术的研发与应用"项目从1410个参赛项目中一路 过关斩将，历经初赛、复赛、决赛三重考验，最终脱颖而出，成功斩获大赛银奖，其技术创新实力与专 利转化价值获行业专家高度认可。 在全固态电池产业加速发展的背景下，传统铜箔"先成箔、后打孔"的加工模式，普遍存在生产效率低、 孔边缘毛刺多、材料损伤大等问题，已难以满足其对安全性、能量密度的严苛要求，为破解这一行业痛 点，九江德福 ...

Group 1: Business Confidence and Market Position - The company expresses confidence in the future development of its copper foil business, citing industry opportunities and a recovery in the lithium battery sector [1] - The company has been a leader in the copper processing industry for 36 years and is the only enterprise with a global layout, operating 23 production bases to meet customer demands for a sustainable supply chain [2] - The company has established a solid customer base in various sectors, including AIDC, new energy vehicles, and electronic communications [2] Group 2: Product Development and Innovation - The company is innovating in copper foil technology, with products like nickel-plated copper foil and porous copper foil achieving industry leadership and receiving positive feedback from top-tier battery cell manufacturers [2] - The company has developed high-performance copper materials for AI cooling applications, which are being used in leading GPU cooling solutions [3] - A joint laboratory with West Lake University focuses on advanced metal materials and manufacturing, targeting high-growth applications in AI, data centers, and new energy vehicles [4] Group 3: Capacity Expansion and Market Strategy - The company is actively expanding and optimizing its production capacity based on customer orders and market demand, indicating a dynamic approach to capacity management [2] - The overseas business is steadily developing, contributing to profit growth, with ongoing updates to be provided in relevant announcements [2] Group 4: Sales Performance and Future Outlook - Sales of copper-based materials in the AIDC sector have significantly increased year-on-year, driven by the material's excellent conductivity and thermal properties [3] - The company aims to explore new production capabilities that align with its main business to enhance overall competitiveness and create new growth points [3]

Core Viewpoint - Zhejiang Hailiang Co., Ltd. is actively engaging in investor relations, focusing on advancements in copper foil products, overseas market expansion, and developments in the heat dissipation sector [1][2]. Group 1: Copper Foil Product Development - The company has made significant progress in the research and development of copper foil products, including nickel-plated copper foil for solid-state batteries, porous copper foil, double-sided rough copper foil, and ultra-high tensile copper foil, achieving industry-leading standards and receiving positive feedback from top domestic and international battery cell manufacturers [2]. - In the high-end standard copper foil sector, the company has optimized the bonding between PCB embedded circuit layers and substrates through reverse roughening treatment of RTF copper foil, reducing signal loss, while HVLP copper foil meets ultra-high frequency requirements with extremely low surface roughness [2]. Group 2: Overseas Market Expansion - As the first Chinese copper foil factory to expand overseas, Hailiang's Indonesian facility is accelerating its international business development and has established deep cooperation with five of the top ten global power battery clients and two of the top three 3C digital clients, with supply agreements set to commence in 2026 [3]. - The company anticipates further strengthening its competitive edge in the international copper foil market through the progress of its Indonesian operations [3]. Group 3: U.S. Market Performance - The Texas base of the company is experiencing favorable operating conditions, with a steady development trajectory. The processing fees for copper products in the U.S. are showing differentiated increases due to varying demand across different products and customer segments [4]. - The company plans to accelerate capacity ramp-up at its Texas facility to meet local market demand while focusing on high-value-added product lines to enhance profitability in the U.S. market [4]. Group 4: Heat Dissipation Sector - The company is leveraging over thirty years of copper processing expertise to meet the growing demand for heat dissipation materials driven by the explosion of AI computing power and global demand for cooling solutions [5]. - The company is currently providing various products for data centers and AI computing, including self-developed heat pipe materials and oxygen-free copper, and plans to increase investment in the heat dissipation sector to explore more market opportunities [5].

Core Viewpoint - The company has achieved technological leadership in the lithium battery copper foil sector, with positive feedback from leading domestic and international battery cell manufacturers, and is set for stable mass delivery [1] Group 1: Product Development - The company has developed new types of copper foil products, including nickel-plated copper foil, porous copper foil, double-sided rough copper foil, and ultra-high tensile copper foil [1] - In the electronic circuit copper foil segment, RTF copper foil and HVLP copper foil have made breakthrough progress in the high-end market [1] Group 2: International Expansion - Indonesia Hailiang, as the first overseas copper foil factory from China, has signed supply agreements with 5 out of the top 10 global power battery customers and 2 out of the top 3 3C digital customers [1] - The cooperation agreements will commence in 2026 and will cover product specifications, quantities, and monetary amounts, which is expected to enhance the company's international competitive advantage in the copper foil business [1]

Core Viewpoint - The company has developed a negative-free battery technology that eliminates the need for active materials in the anode during the battery manufacturing process, enhancing efficiency and performance [1] Group 1: Technology Overview - The negative-free technology operates by allowing lithium ions to move from the cathode to the surface of a current collector during charging, forming a metallic layer [1] - During discharging, this metallic layer dissolves back into the cathode, indicating a novel approach to battery design [1] Group 2: Material Innovation - The company has developed three-dimensional and porous copper foils that are essential for the application of the negative-free technology, as they provide the necessary lithium affinity [1]

Summary of Solid-State Battery Investment Opportunities Industry Overview - The solid-state battery industry is characterized by significant potential in energy density, theoretically exceeding 500 Wh/kg. However, challenges such as low ionic conductivity of solid electrolytes and solid-solid interface issues hinder development. Currently, semi-solid batteries are in mass production, while solid-state batteries are still in the technical development phase [1][2][9]. Key Points on Positive Electrode Materials - Future trends in positive electrode materials focus on high specific capacity and high voltage platforms. High nickel ternary materials will dominate the market in the short term, while lithium-rich manganese-based and nickel manganese lithium materials are expected to emerge after 2030. The cost per watt-hour of lithium-rich manganese materials is projected to approach that of lithium iron phosphate [1][3][4][9]. Key Points on Negative Electrode Materials - Silicon-carbon anodes are anticipated to become mainstream before 2030, with a theoretical specific capacity of 4,200 mAh/g, which is ten times that of graphite. However, issues such as volume expansion can reduce coulombic efficiency and cycle life. Techniques like carbon coating and metal oxide coating can optimize silicon-based anode performance. In the long term, lithium metal anodes are expected to be used for batteries with energy densities exceeding 500 Wh/kg [1][5][9]. Challenges and Solutions for Lithium Metal Anodes - Lithium metal anodes face challenges including unlimited volume expansion, dead lithium formation, and dendrite growth, which can lead to short circuits. The ideal thickness for lithium metal anodes is 5-6 microns, while current mainstream processes often exceed 20 microns. Vapor deposition is a promising method to control deposition thickness, prevent dendrite formation, and enhance purity and bonding strength [1][6][9]. Current Trends in Current Collectors - Porous copper foil is favored for its fast charging performance, high energy density, and ability to suppress dendrite growth, making it suitable for solid-state batteries with lithium metal anodes. However, due to the corrosive nature of sulfide electrolytes, there may be a shift towards nickel-based or stainless steel current collectors. These alternatives can enhance overall system stability and optimize the balance between weight and performance [1][7][8][9]. Challenges of Sulfide Electrolytes - Sulfide electrolytes can react with traditional copper current collectors, leading to electronic conduction blockage and interface failure. Nickel-based and stainless steel current collectors are proposed as alternatives, with nickel forming a dense oxide layer to prevent corrosion and maintain structural integrity. Companies like Tohoku Steel are developing specialized iron foils for solid-state batteries, with mass production expected by 2027 [1][8][9]. Investment Recommendations - The solid-state battery industry is expected to see equipment changes, advancements in sulfide electrolytes, and the production of the first generation of solid-state batteries. By 2027, small-scale production of solid-state batteries is anticipated. Recommended companies include Xiamen Tungsten New Energy, Rongbai Technology, Danson Technology, and Zhenhua New Materials for positive electrode materials. For negative electrodes, companies like Tiantian Technology, Yinglian Co., Daoshi Technology, and Zhongyi Technology are worth monitoring as lithium metal anodes become mainstream [1][9].

Core Insights - The solid-state battery industry is entering a critical phase of industrialization, driven by technological advancements and increasing market demand [5][6] - The electrolyte segment is highlighted as a key area for value creation, with significant market potential estimated at 240 billion [3] - Companies that successfully scale production of solid-state batteries are expected to see substantial market valuation increases [3][4] Material Sector - Eight battery manufacturers have established pilot lines with a capacity of 0.3 GWh, indicating progress from scientific challenges to engineering solutions for mass production [1] - Sulfide electrolytes are recognized for their potential, with two main production methods: wet method and gas-solid separation method, with companies like Huasheng Lithium and Shanghai Xiba leading the way [3] - The value of electrolytes for a 1 GWh solid-state battery is projected at 600 million, even after potential cost reductions [3] Equipment Sector - Equipment stocks are benefiting from the urgency of expansion in the solid-state battery sector, with a focus on fiberization equipment and other essential machinery [5] - Companies like Macro Technology and Delong Laser are noted for their significant order increases and technological advancements in production efficiency [5] - Solid-state battery equipment is expected to be a primary beneficiary of the industry's growth, as highlighted by reports from CITIC and CICC [5] Positive Signals from Battery Manufacturers - Companies like Rongbai Technology are signaling a shift towards lithium-rich manganese-based cathodes, which could enhance battery performance and reduce costs [4] - The introduction of these advanced materials is anticipated to drive market speculation and investment interest [4] Related Companies in the Solid-State Battery Sector - Key players in the solid-state battery supply chain include CATL, Ganfeng Lithium, Tianqi Lithium, and BYD, among others [6]

Core Viewpoint - Solid-state batteries are expected to become the next generation of lithium battery technology due to their high safety and energy density, with significant investment opportunities arising from technological breakthroughs and industrial transformation [2][4]. Group 1: Market Demand and Projections - The commercialization of solid-state batteries is accelerating due to policy support, market demand, and technological breakthroughs, with a projected global shipment of 808 GWh by 2030 [4][10]. - By 2030, the demand for semi-solid-state batteries is expected to exceed 650 GWh, with specific demands from power, energy storage, EVTOL, and consumer electronics at 466 GWh, 90 GWh, 60 GWh, and 36 GWh respectively [10]. - Full solid-state batteries are anticipated to achieve small-scale production by 2027 and commercial production by 2030, with a demand forecast of over 150 GWh [10]. Group 2: Material Innovations - The solid-state battery technology is converging towards the sulfide electrolyte route, which currently has high costs but significant cost reduction potential with scale [5][12]. - The long-term focus for anode materials is shifting towards lithium metal due to its high capacity and low electrode potential, with ongoing advancements in production methods [25][27]. - The cathode materials are expected to transition from high-nickel ternary materials to lithium-rich manganese-based materials, which offer high capacity and lower costs [23]. Group 3: Equipment and Manufacturing Processes - The value of equipment for solid-state batteries is significantly increasing due to the introduction of new processes and equipment in both the front and mid-stages of production [6][29]. - The front-end production requires dry electrode processes that are more compatible with sulfide electrolytes, enhancing production efficiency and reducing costs [30][32]. - The mid-stage production will replace winding with stacking processes, necessitating new equipment such as glue frame printing and isostatic pressing to ensure tight contact between solid electrolyte and electrodes [31][39]. Group 4: Competitive Landscape - Various companies are advancing their production capabilities for solid-state battery components, including sulfide and halide electrolytes, with significant investments in R&D and production lines [22][20]. - Companies like Ganfeng Lithium and Tianqi Lithium are focusing on lithium metal anodes, while others are developing advanced manufacturing techniques for solid-state batteries [27][26]. - The industry is witnessing a shift towards more efficient and cost-effective production methods, with several firms already implementing dry processing technologies [36][41].

Core Viewpoint - Solid-state batteries are considered the next generation of lithium batteries due to their high energy density and safety compared to liquid batteries [1][2]. Group 1: Positive Electrode Development - The positive electrode is evolving towards high voltage and high specific capacity, with initial reliance on high nickel ternary materials, transitioning to lithium-rich manganese-based and ultra-high nickel materials in the future [1]. - Lithium-rich manganese-based (LMR) materials have a theoretical specific capacity of 320mAh/g and a voltage platform of 3.7V-4.6V, significantly outperforming traditional ternary and lithium iron phosphate materials [1]. - The raw material cost for lithium-rich manganese-based materials is approximately 15-20% lower than that of ternary materials, with energy cost per watt-hour close to that of lithium iron phosphate [1]. Group 2: Negative Electrode Development - Short-term focus for negative electrodes is on silicon-carbon composites, while lithium metal is expected to become the mainstream material post achieving an energy density of 400Wh/kg [2]. - The theoretical specific capacity of lithium metal (3860mAh/g) is vastly superior to that of traditional graphite electrodes (372mAh/g), contributing to enhanced energy density [2]. - Current mainstream preparation methods for lithium metal electrodes include rolling, with future advancements in vapor deposition techniques expected to facilitate their implementation [2]. Group 3: Current Collector Innovations - Future developments in solid-state batteries may center around lithium metal electrodes and sulfide electrolytes, with porous copper foils being utilized to suppress lithium dendrite growth, thereby enhancing safety and cycle life [2]. - Nickel-based and stainless steel current collectors are proposed as suitable alternatives to address the corrosion issues associated with sulfide electrolytes [2].

Group 1 - The core viewpoint is that solid-state batteries exhibit superior energy density and safety compared to liquid batteries, positioning them as the next generation of lithium batteries [1] - The main electrolyte options for solid-state batteries include oxides, polymers, halides, and sulfides, with sulfides being the primary choice for all-solid-state batteries [1] - The positive electrode is evolving towards high voltage and high specific capacity, initially utilizing high nickel ternary materials, and later transitioning to lithium-rich manganese-based and ultra-high nickel materials [1] Group 2 - The theoretical specific capacity of lithium-rich manganese-based (LMR) materials can reach 320mAh/g, with a voltage platform of 3.7V to 4.6V, significantly surpassing traditional ternary and lithium iron phosphate materials [1] - The cost of raw materials for lithium-rich manganese-based materials is approximately 15-20% lower than that of ternary materials, with watt-hour costs approaching those of lithium iron phosphate [1] Group 3 - For the negative electrode, silicon-carbon composites are currently favored, while lithium metal is expected to become the mainstream material after energy densities exceed 400Wh/kg [2] - The theoretical specific capacity of lithium metal (3860mAh/g) is substantially higher than that of traditional graphite electrodes (372mAh/g), contributing to enhanced energy density [2] Group 4 - The development of current collectors is focused on porous copper foils and nickel-based collectors, which are compatible with solid-state battery systems [3] - Porous copper foils help suppress lithium dendrite growth, enhancing the safety and cycle life of solid-state batteries [3] - Nickel-based and stainless steel current collectors are considered suitable alternatives to address the corrosion of copper foils by sulfides [3]