Group 1 - The core viewpoint of the report is that Dongguan Securities has given a "buy" rating for Xingyuan Material (300568.SZ) based on its performance and strategic positioning in the solid-state battery sector [2] - The company's performance in the first half of 2025 is expected to remain under pressure, but there is a projected quarter-on-quarter growth in revenue and net profit attributable to shareholders in Q2 2025 [2] - The company is strategically positioning itself in the solid-state battery field, with products suitable for both semi-solid and all-solid batteries, indicating a forward-looking approach to market trends [2] - The ongoing deepening of anti-involution policies is expected to help the company gradually restore its profitability [2]