Summary of Solid-State Battery Conference Call Industry Overview - The solid-state battery technology has disruptive potential and is expected to address battery performance bottlenecks. The Ministry of Industry and Information Technology (MIIT) may provide subsidies to leading solid-state battery manufacturers such as CATL, BYD, and Guoxuan High-Tech to accelerate industry development [1][2]. Key Points and Arguments - **Equipment Development**: The equipment sector has largely converged, with both solid-state and semi-solid-state equipment being relatively standardized. Semi-solid production lines can be reused, and only minor upgrades are needed in specific processes. Once industry signals are clear, production expansion will accelerate [3][4]. - **Material Pathways**: The oxide pathway is considered more certain than the sulfide pathway for material selection, with expectations that the cobalt oxide semi-solid battery market could reach 40-50 GWh by 2027. This could drive the entire solid-state battery industry forward [5]. - **Emerging Current Collector Materials**: Companies like Yuanhang and Nord, along with traditional copper foil manufacturers such as Jiayuan and Defu Zhongyi, are developing new current collector materials to address the negative electrode expansion issue inherent in solid-state batteries [6]. - **Investment Opportunities**: The core issue in cost reduction for both oxide and sulfide materials lies in solid-solid interface contact problems. The resolution of these issues may present new investment opportunities [9][13]. Notable Companies and Equipment Suppliers - **Equipment Suppliers**: Companies to watch include Hanbuking, Xian Dao Intelligent, and Liyuanheng as complete line suppliers. Specific companies like Honggong, Naknor, Amanster, and Xianhui are noted for their advantages in particular processes. Hai Moxing is highlighted for its growth potential due to a strong order backlog [7][8]. Additional Insights - **Emerging Current Collector Directions**: The focus on composite aluminum foil and new iron-based/copper-based nickel-plated products is crucial. Composite aluminum foil is rapidly applied in consumer electronics, while new nickel-plated products are essential for addressing corrosion issues in sulfide systems [10][12]. - **Competitive Advantages**: Companies like Yinglian and Kecuan have competitive advantages in the composite aluminum foil industry, with Yinglian leading in capacity layout and Kecuan having strong client progress [14]. Conclusion - The solid-state battery sector is poised for significant growth, driven by technological advancements and supportive government policies. The focus on equipment standardization and material innovation will be critical in shaping the future landscape of the industry.