Group 1 - The core viewpoint of the article emphasizes the rapid development and commercialization of sulfide all-solid-state battery technology, with significant advancements expected by 2030 [2][3][4] - The energy density of sulfide all-solid-state batteries is projected to increase from 350 Wh/kg in 2025 to 500 Wh/kg by 2030, with a compound annual growth rate of 7.4%, surpassing the progress of liquid lithium batteries [2] - Key milestones include achieving large-scale production by 2026, a year earlier than initially planned, indicating unexpected technological breakthroughs [3] Group 2 - The article highlights the convergence of technology routes between Chinese and Japanese companies, with China expected to file three times more patents than Japan by 2024, although Japan still holds 40% of global foundational patents [4] - Domestic policies are driving advancements, with a target set for 2027 for vehicle integration, and many companies are ahead of schedule, such as the 60Ah cell expected to be produced by 2025 [5] Group 3 - The core value of technological commercialization includes the reconstruction of supply chain security, reducing reliance on Japanese and Korean raw materials, and aiming to lower the cost of electrolytes to $100/kg [6] - The high safety characteristics of sulfide batteries make them suitable for specialized applications in aviation and military sectors, addressing range anxiety for electric vehicles with a projected 400 Wh/kg version by 2028 [6] Group 4 - The article discusses the alignment of national strategies with market demands, noting that China's "New Energy Vehicle Industry Development Plan (2025)" explicitly supports solid-state battery research, with over 2 billion yuan allocated for the "14th Five-Year Plan" [8] - The period from 2025 to 2030 is identified as a critical window for sulfide battery commercialization, with expectations for the global market to reach $20 billion by 2030, reflecting a compound annual growth rate exceeding 45% [9] Group 5 - The event will feature a series of specialized forums focusing on various aspects of sulfide all-solid-state battery technology, including manufacturing processes, material breakthroughs, and industry challenges [12][13] - The establishment of the first all-solid-state battery industry alliance aims to foster collaboration across the entire supply chain, enhancing the industry's strategic direction [12]

2025 起点固态电池行业年会 暨固态电池金鼎奖颁奖典礼 首届硫化物全固态电池国际峰会议程 时间： 2025年11月8日 地点：广州 一 活动背景与意义 3、 政策支持与市场需求匹配性 1、 硫化物全固态电池技术发展现状分析 能量密度快速提升 : 硫化物全固态电池能量密度预计从 2025年的350Wh/kg提升至2030年的500Wh/kg，年均复合增长率达7.4%，显著高于液态锂 电池进步速度。 商业化节奏加速 : 关键节点 2026年实现规模化生产（原计划2027年），反映技术突破超预期（如电解质电导率>10 mS/cm、界面稳定性提升）。 中日技术路线趋同 : 中日企业均聚焦硫化物路线，中国 2024年专利申请量达日本三倍，但日本在基础专利仍占全球40%，显示产业化竞争白热化。 政策驱动明确 : 国内设定 2027年装车节点，企业进度普遍提前半年（如60Ah电芯2025年下线），验证政策与市场双轮驱动效应。 2、 技术商业化突破的核心价值 供应链安全重构 ： 硫化锂本土化生产可降低对日韩原材料的依赖，缓解当前 99.9%纯度产品高达200万元/吨的价格压力，推动电解质成本向100美 元/kg目标迈进。 ...

2025 起点固态电池行业年会 暨固态电池金鼎奖颁奖典礼 首届硫化物全固态电池国际峰会议程 时间： 2025年11月8日 地点：广州 一 活动背景与意义 1、 硫化物全固态电池技术发展现状分析 能量密度快速提升 : 硫化物全固态电池能量密度预计从 2025年的350Wh/kg提升至2030年的500Wh/kg，年均复合增长率达7.4%，显著高于液态锂 电池进步速度。 商业化节奏加速 : 关键节点 2026年实现规模化生产（原计划2027年），反映技术突破超预期（如电解质电导率>10 mS/cm、界面稳定性提升）。 中日技术路线趋同 : 中日企业均聚焦硫化物路线，中国 2024年专利申请量达日本三倍，但日本在基础专利仍占全球40%，显示产业化竞争白热化。 政策驱动明确 : 国内设定 2027年装车节点，企业进度普遍提前半年（如60Ah电芯2025年下线），验证政策与市场双轮驱动效应。 2、 技术商业化突破的核心价值 供应链安全重构 ： 硫化锂本土化生产可降低对日韩原材料的依赖，缓解当前 99.9%纯度产品高达200万元/吨的价格压力，推动电解质成本向100美 元/kg目标迈进。 终端应用场景拓展： 高安全性（针 ...

中日技术路线趋同 : 中日企业均聚焦硫化物路线，中国 2024年专利申请量达日本三倍，但日本在基础专利仍占全球40%，显示产业化竞争白热化。 2025 起点固态电池行业年会 暨固态电池金鼎奖颁奖典礼 首届硫化物全固态电池国际峰会议程 时间： 2025年11月8日 地点：广州 一 活动背景与意义 1、 硫化物全固态电池技术发展现状分析 能量密度快速提升 : 硫化物全固态电池能量密度预计从 2025年的350Wh/kg提升至2030年的500Wh/kg，年均复合增长率达7.4%，显著高于液态锂 电池进步速度。 商业化节奏加速 : 关键节点 2026年实现规模化生产（原计划2027年），反映技术突破超预期（如电解质电导率>10 mS/cm、界面稳定性提升）。 政策驱动明确 : 国内设定 2027年装车节点，企业进度普遍提前半年（如60Ah电芯2025年下线），验证政策与市场双轮驱动效应。 2、 技术商业化突破的核心价值 供应链安全重构 ： 硫化锂本土化生产可降低对日韩原材料的依赖，缓解当前 99.9%纯度产品高达200万元/吨的价格压力，推动电解质成本向100美 元/kg目标迈进。 终端应用场景拓展： 高安全性（针 ...

Group 1 - The core viewpoint of the article emphasizes the rapid development and commercialization of sulfide all-solid-state batteries, with significant advancements expected by 2030 [2][3][4] - The energy density of sulfide all-solid-state batteries is projected to increase from 350 Wh/kg in 2025 to 500 Wh/kg by 2030, with a compound annual growth rate of 7.4%, surpassing the progress of liquid lithium batteries [2] - Key milestones include achieving large-scale production by 2026, one year ahead of the original plan, indicating unexpected technological breakthroughs [3] Group 2 - The competition between Chinese and Japanese companies in the sulfide battery sector is intensifying, with China expected to file three times more patents than Japan in 2024, although Japan still holds 40% of global foundational patents [4] - Domestic policies are driving advancements, with a target set for 2027 for vehicle integration, and many companies are ahead of schedule, such as the 60Ah cell expected to be produced by 2025 [5] Group 3 - The localization of lithium sulfide production is crucial for supply chain security, reducing reliance on high-cost materials from Japan and South Korea, and aiming to lower electrolyte costs to $100/kg [6] - The high safety features of sulfide batteries make them suitable for specialized applications in aviation and military sectors, addressing range anxiety in electric vehicles with a projected 400 Wh/kg version by 2028 [6] Group 4 - The Chinese government has committed over 2 billion yuan to solid-state battery research as part of its 2025 New Energy Vehicle Industry Development Plan, while the EU prioritizes sulfide technology in its Battery 2030+ initiative [8] - The period from 2025 to 2030 is identified as a critical window for the transition of sulfide batteries from laboratory to mass production, with a projected global market size of $20 billion by 2030 and a compound annual growth rate exceeding 45% [9] Group 5 - The event titled "2025 Starting Point Solid-State Battery Industry Annual Conference and Solid-State Battery Golden Ding Award Ceremony" will take place on November 8, 2025, in Guangzhou, featuring discussions on key technological advancements and industry standards [10][11] - The agenda includes the release of a roadmap for global sulfide solid-state battery technology and the establishment of the first all-solid-state battery industry alliance [12]

倒计时42天 CINE2025固态电池展暨固态电池行业年会 主办单位： 起点固态电池、起点锂电、SSBA固态电池联盟 协办单位及固态年会总冠名： 茹天科技 活动时间： 2025年11月6-8日 活动地点： 广州南沙国际会展中心（2楼船厅及广州厅） 活动规模： 展商规模200+、参会企业2000+、专业观众20000+ 同期活动： 2025起点固态电池金鼎奖颁奖典礼、SSBA固态电池产业联盟理事会 第一批展商及赞助商： 金钠科技/茹天科技/海四达/融捷能源/易事特钠电/泰和科技/隐功科技/科迈罗/国科炭美/晟钠新能/中钠能源/乔岳智能/津工能源/科达新能/时 代思康/富钠能源/极电特能/华普森/瑞扬新能源/亮见钠电/叁星飞荣/珠海纳甘新能源/皓升新能源/扬广科技/银川苏银产业园/兆钠新能源/精诚时代/儒特股份/希倍动 力/先导干燥/瓦时动力/博粤新材/苏州翼动新能/亿隆能源/钠创新能源等 新能源赛道今日发出了自己的最强音。宁德时代 AH 股双双创下历史新高，总市值首次超越"股王"贵州茅台。 9 月 25 日， 宁德时代 A 股大涨，盘中股价创历史新高，总市值一度突破 1.83 万亿元，超越贵州茅台 1.80 万 ...

Industry Overview - The 7th High Energy Density Solid-State Battery Key Materials Technology Conference was held in Suzhou on September 23-24, focusing on solid electrolytes, anode and cathode materials, interface engineering, smart manufacturing, and industrialization progress [1] - The conference aimed to provide a platform for information exchange among companies, research institutions, and end-users in sectors such as new energy vehicles, energy storage, and consumer electronics, promoting collaboration in production, learning, and research [1] Market Trends - According to Guotai Junan, the industrialization of solid-state batteries is expected to accelerate from 2025 onwards, with a collaborative model emerging between automakers and battery manufacturers in China [1] - The development of materials, including main materials like solid electrolytes, anode and cathode materials, and auxiliary materials such as binders and additives, is rapidly advancing [1] - Multiple automakers and battery manufacturers have announced plans for mass production of solid-state batteries, with 2027 projected to be a pivotal year for the industry [1] Company Developments - Tianqi Materials is currently in the pilot testing stage for its sulfide-based solid electrolyte [1] - Funeng Technology has completed sample delivery of sulfide all-solid-state batteries to a leading humanoid robot client [1]

2025 起点固态电池行业年会 暨固态电池金鼎奖颁奖典礼 首届硫化物全固态电池国际峰会议程 时间： 2025年11月8日 地点：广州 一 活动背景与意义 商业化节奏加速 : 关键节点 2026年实现规模化生产（原计划2027年），反映技术突破超预期（如电解质电导率>10 mS/cm、界面稳定性提升）。 中日技术路线趋同 : 中日企业均聚焦硫化物路线，中国 2024年专利申请量达日本三倍，但日本在基础专利仍占全球40%，显示产业化竞争白热化。 政策驱动明确 : 国内设定 2027年装车节点，企业进度普遍提前半年（如60Ah电芯2025年下线），验证政策与市场双轮驱动效应。 2、 技术商业化突破的核心价值 供应链安全重构 ： 硫化锂本土化生产可降低对日韩原材料的依赖，缓解当前 99.9%纯度产品高达200万元/吨的价格压力，推动电解质成本向100美 元/kg目标迈进。 终端应用场景拓展： 高安全性（针刺测试不起火）特性使其适用于航空、军工等特殊领域； 400Wh/kg高能量密度版本（预计2028年）将解决电动汽 车续航焦虑。 生产工艺革新： 干法电极工艺与硫化物电解质膜的集成，可减少传统液态电池涂布、注液等环节， ...

6 证券研究报告 点评报告 2025 年 9 月 18 日 晨会纪要 核[心Ta观bl点e_：Summary] 第一创业证券研究所 一、宏观经济组： 事件一： 9 月 18 日（星期四）2 点，美联储公开市场委员会（FOMC）2025 年第六次议息 会议。 邮箱：liuxiaoyu@fcsc.com 点评一： 9 月 18 日凌晨 2 点，美联储公布了 2025 年的第六份利率决议,决定将联邦基金 利率区间下调 25 个基点至 4-4.25%，符合市场预期，这是美联储自去年 9 月开 启降息周期以来，今年前五次暂停降息后首次再度重启降息，投票结果显示， 有投票权的 12 位 FOMC 委员中 11 票赞成，1 票反对，就是刚上任的米兰支持降 息 50 个基点，反对人数少于预期。上次投反对票的特朗普的支持者副主席鲍曼 和理事沃勒出人意外投了赞成票。 本次声明与 7 月相比，有以下不同：删掉了有关"上半年经济增长温和"的说 法，改成"经济活动和就业增长已放缓，劳动力市场的下行风险已经增加"。 具体表现就是就业增长已经放缓，失业率略有上升但仍维持在低位，通胀有所 上升且处于略高水平。在新闻发布会上，鲍威尔强调，应将 ...

Core Viewpoint - The article highlights the advancements and strategic developments of Funeng Technology in the solid-state and semi-solid-state battery sectors, emphasizing their product roadmap and partnerships with key players in the electric vehicle and low-altitude economy markets [3][4][5]. Group 1: Product Development - Funeng Technology plans to deliver its first batch of 60Ah sulfide all-solid-state batteries by the end of this year, achieving an energy density of 400Wh/kg [3]. - The company is accelerating the construction of a 0.2GWh pilot line for sulfide all-solid-state batteries, with plans to scale up to GWh level by 2026 [3]. - The product iteration roadmap includes: - First generation (end of 2025): High nickel ternary cathode + high silicon anode, 400Wh/kg [3]. - Second generation (2026): Lithium-rich manganese-based/high nickel cathode + lithium metal anode, energy density increased to 500Wh/kg [4]. - Third generation (2027): Achieving energy density above 500Wh/kg [4]. Group 2: Market Engagement - Funeng's all-solid-state batteries have attracted interest from several well-known new energy vehicle manufacturers and have been sampled to humanoid robot companies and low-altitude economy clients [4]. - The first generation of sulfide all-solid-state batteries has been sampled to leading humanoid robot companies, with performance and safety feedback meeting expectations [4]. - The product has passed rigorous safety tests, supporting humanoid robots for 8-12 hours of continuous operation, significantly improving upon the current industry standard of less than 2 hours [4]. Group 3: Financial Performance - Funeng Technology's semi-solid-state batteries have achieved GWh-level shipments, with the second generation (energy density > 330Wh/kg) set for mass production and already attracting interest from low-altitude economy clients [5]. - The company reported revenue of 4.353 billion yuan in the first half of 2025, with a significant reduction in net losses and a 122.79% increase in operating cash flow [5]. - R&D investment has increased to 6.81% of revenue, indicating a commitment to technology development despite market challenges [5]. Group 4: Strategic Partnerships - Guangzhou Industrial Control Group has become the controlling shareholder of Funeng Technology, enhancing its strategic positioning [5][6]. - A strategic cooperation agreement was signed between Guangzhou Industrial Control Group and Guangdong Energy Group to collaborate on comprehensive energy services, energy conservation, and new energy storage [6]. - Funeng aims to deepen its integration into the Guangzhou new energy vehicle and low-altitude economy industry chains, leveraging state-owned platforms to enhance financing capabilities and overseas expansion efficiency [7].