Core Insights - The report maintains a positive outlook on the mechanical equipment sector, highlighting the strong performance of leading companies and the continued rise in prices of key materials like lithium hexafluorophosphate [1][3][31]. Market Review - The Shanghai Composite Index increased by 0.11% this week, while the solid-state battery index surged by 7.53%. Year-to-date, the Shanghai Composite Index has risen by 17.99%, and the solid-state battery index has seen a remarkable increase of 62.75% [7][9]. - Trading volume for the entire A-share market reached 116,266.77 billion yuan, up 29.38% week-on-week, with the solid-state battery index trading volume at 4,925.83 billion yuan, up 64.07% [7][9]. Price Tracking of the Industry Chain - As of October 31, lithium carbonate (99.5% battery grade) is priced at 80,600 yuan per ton, up 520 yuan from the previous week. The price of lithium iron phosphate is 35,800 yuan per ton, up 240 yuan, while the price of ternary materials (523) is 151.03 yuan per kilogram, up 3.35 yuan [12][13][15]. Company Announcements - Leading companies reported significant revenue growth in Q3 2025. For instance, Xian Dao Intelligent's revenue increased by 13.95% year-on-year, with net profit rising by 198.92%. Similarly, Jiao Cheng Ultrasonic's revenue grew by 20.16%, and net profit increased by 136.81% [31][29][30]. Demand Tracking for Power Batteries - In the first nine months of 2025, the production of power and other batteries reached 1,121.9 GWh, a year-on-year increase of 51.4%. The production in September alone was 151.2 GWh, up 35.85% year-on-year [42][43]. - Power battery installation volume for the same period was 493.9 GWh, up 42.5% year-on-year, with September's volume at 76 GWh, up 39.45% [42][43]. Industry News - A consensus was reached during the China-US trade talks to pause export controls, which is expected to stabilize the industry chain [38]. - The solid-state battery technology is advancing, with several automakers planning to adopt all-solid-state batteries around 2027, indicating a faster industrialization process [3][4].