Core Viewpoint - Beijing Weilan New Energy Technology Co., Ltd. is preparing to go public on the ChiNext board, potentially becoming the first company to offer solid-state batteries in the market [1] Group 1: Company Overview - Weilan New Energy was founded in 2016 and is a spin-off from the Chinese Academy of Sciences, focusing on solid-state lithium-ion batteries [1] - The company has completed nine rounds of financing since 2017, raising over 2.5 billion yuan, with investments from major players like Xiaomi and Huawei [1] - The company's valuation has increased from 5 billion yuan in 2021 to 18.5 billion yuan [1] Group 2: Technology and Products - Weilan New Energy specializes in solid-state batteries, which are expected to significantly enhance energy density, with future projections reaching 1000 Wh/kg [6] - The company has launched several products, including a 360 Wh/kg high-energy density power cell and a 280 Ah ultra-safe energy storage cell, which have already begun mass production [3][6] - The new generation of solid-state battery packs, developed in collaboration with BASF, aims to address safety concerns and improve range for electric vehicles [7] Group 3: Financing and Strategic Partnerships - The company has attracted 48 major institutional and industrial investors, creating a unique ecosystem of "research + industry + state-owned capital" [4] - Recent financing rounds have included significant investments from state-owned funds, which will support capacity expansion and technological upgrades [5] - The D+ round of financing was completed in September 2025, further solidifying investor confidence in the solid-state battery sector [5] Group 4: Industry Outlook - The solid-state battery technology is anticipated to begin mass production by 2027, with a gradual market penetration expected over the next five to ten years [8]

Core Viewpoint - Weilan New Energy, a solid-state battery unicorn, is preparing to go public on the ChiNext board with a valuation of 18.5 billion yuan, as disclosed by the China Securities Regulatory Commission [1][2]. Company Overview - Weilan New Energy was established in 2016 and is incubated by the Chinese Academy of Sciences, focusing on solid-state lithium-ion batteries. The company has a strong R&D, production, and sales framework and is recognized as a national-level "specialized and innovative" enterprise and a unicorn [3]. - The company is led by Yu Huigen, who controls 29.25% of the shares through direct and indirect holdings [1]. Product Offerings - Weilan's products are primarily used in three sectors: new energy vehicles, energy storage, and low-altitude economic power. Key products include: - 360Wh/kg high-energy density power cells, capable of over 1000 km range, with mass production for NIO by the end of 2023 [3]. - 280Ah ultra-safe energy storage cells, already in mass production for various energy storage projects [3]. - 320Wh/kg high-energy density low-altitude economic power cells, supplied to multiple domestic and international clients [3]. Recent Developments - At the recent Guangzhou International Auto Show, Weilan and BASF jointly launched a new generation of solid-state battery packs, marking a significant step in the industrialization of solid-state batteries in China [4]. - The collaboration with BASF aims to enhance safety and efficiency through innovative material applications, addressing key concerns in traditional battery technology [4][5]. Financing and Strategic Partnerships - Weilan recently completed a D+ round of financing, attracting strategic investments from various funds, including the Beijing Green Energy and Low Carbon Industry Investment Fund, which reflects strong market confidence in the solid-state battery sector [5][6]. - New shareholders include major players like Guangdong Energy Group, which has initiated comprehensive strategic cooperation in the energy storage field [6]. - Since its inception, Weilan has completed nine rounds of financing, with notable investors including Xiaomi, NIO, Geely, and Huawei [6].