Summary of Solid-State Battery Industry Conference Call Industry Overview - The solid-state battery equipment industry is entering a new cycle, with a recovery in liquid battery demand expected in 2025, leading to a projected 50% year-on-year growth in orders for lithium battery equipment companies, with some companies seeing orders double [1][4] - Companies such as Galaxy, XianDao Intelligent, and XingYun Co. are performing well in the solid-state battery equipment sector, with positive second-quarter performance expectations and anticipated deliveries of related equipment [1][5] Key Points and Arguments - The transition to solid-state battery technology will drive a new wave of growth, with full solid-state battery solutions needing to address cost, safety, and energy density [1][7] - The production process for solid-state batteries is shifting towards dry processing, with increased precision requirements for dry rolling, which is expected to increase the number of rolls from four to as many as sixteen [1][9] - The demand for stacking machines has become essential in solid-state battery production, leading to increased needs for front-end technologies such as glue frame printing and composite transfer [1][11] - Isostatic pressing equipment is being utilized to enhance the contact between solid-state battery components, improving density and reducing lithium dendrite growth [1][12] Equipment and Technology Developments - The initial charging and discharging processes are expected to see a 3 to 5 times increase in the formation and capacity stages, necessitating higher performance testing equipment [2][14] - The solid-state battery equipment sector exhibits significant elasticity, with the value of equipment for solid-state batteries expected to at least double compared to liquid batteries during initial mass production [3] Market Dynamics - The solid-state battery industry is anticipated to see substantial advancements in 2025, with a recovery phase for liquid batteries and a new cycle for lithium battery equipment driven by technological updates [4][16] - Key companies to watch in the lithium-ion and solid-state lithium-ion supply chain include Nako, Honggong, and leading firms in traditional and emerging solid-state fields such as Lianying Laser and Galaxy Technology [15] Material Developments - Lithium sulfide and metal anodes are identified as strong long-term material development directions, with significant market potential if production costs can be reduced [17][19] - The market for lithium sulfide is projected to be lucrative, with potential profits reaching 1.5 to 2 billion yuan at lower price points [19] - The development of lithium metal anodes is gaining attention, with breakthroughs expected to allow their application in semi-solid and liquid batteries [20] Additional Insights - Emulsions as a cost-reduction strategy and rigid skeleton membranes for electrolyte film processes are emerging as potential growth areas [21] - The performance of ternary cathode materials is improving due to solid-state technology, with companies actively progressing in high-pressure samples [22]