Core Viewpoint - Xianhui Technology has successfully received a notification from a leading global battery company to build a battery production line project in Hungary, highlighting its strong technical capabilities and market reputation since entering the European market in 2017 [2]. Group 1: Company Performance - In the first half of 2025, Xianhui Technology achieved an operating revenue of 1.273 billion yuan and a net profit attributable to shareholders of 152 million yuan, representing a year-on-year growth of 17.44% [2]. - The net profit after deducting non-recurring gains and losses was 144 million yuan, with a year-on-year increase of 21.04% [2]. Group 2: Strategic Partnerships - Xianhui Technology has formed a strategic partnership with leading solid-state battery company Qingtai Energy, signing a joint research and development agreement for core equipment of all-solid-state batteries [2]. - In August 2025, both companies signed a comprehensive cooperation agreement to establish an "Advanced Process R&D Institution for Solid-State Batteries," focusing on addressing core industry challenges and promoting the industrialization of solid-state and semi-solid-state batteries [3]. Group 3: Market Opportunities - Europe is identified as a core market for new energy with significant potential and relatively low current development levels, prompting the company to continue expanding its business in this region [2]. - The company aims to leverage technological innovation to explore more growth opportunities in the European market [2].

Core Insights - The company reported a revenue of 1.273 billion yuan and a net profit of 152 million yuan for the first half of 2025, marking a year-on-year increase of 17.44% in net profit and 21.04% in net profit after deducting non-recurring items [1] - A cash dividend of 3.00 yuan per 10 shares is proposed, totaling 37.64 million yuan, which represents 24.74% of the net profit for the first half of 2025 [1] - The company is committed to the "China Intelligent Manufacturing" philosophy and is expanding its overseas market presence, establishing subsidiaries in Vietnam, Hong Kong, and Singapore [1] Strategic Developments - The company has formed a strategic partnership with leading solid-state battery manufacturer Qingtao Energy, signing a joint R&D agreement for core equipment in solid-state batteries [2] - The company has successfully delivered dry roller press equipment to Qingtao Energy, which is currently in the fine-tuning phase [2] - A comprehensive cooperation agreement was signed in August, aiming to establish an advanced process R&D institution for solid-state batteries, focusing on integrating technology and resources to tackle industry challenges [2]

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].