Summary of Solid-State Battery Industry Conference Call Industry Overview - The solid-state battery industry is experiencing significant advancements, particularly in key materials such as cathodes, anodes, electrolytes, and skeleton membranes. The industry is expected to see substantial growth driven by policy support and technological innovations [1][2][11]. Key Points and Arguments - **Cathode Material**: The cathode material "富力猛" has addressed capacity limitations through techniques like element adjustment, doping, and particle size control. This has improved the value of the welding process, with leading battery manufacturers expected to increase welding equipment to replace the sealing process [3][9]. - **Anode Material**: Silicon-carbon anodes face challenges in cycling, expansion, high temperature, and fast charging performance. Despite these issues, they are being supplied in bulk to the consumer market, with conventional prices around 300,000 CNY per ton and high-performance products reaching 500,000 to 600,000 CNY per ton [4][6]. - **Electrolyte**: Sulfide electrolytes have improved ionic conductivity through reduced pore size and optimized manufacturing processes. However, they face challenges related to water and oxygen sensitivity, safety, and equipment development [4][11]. - **Skeleton Membrane**: The rigid skeleton membrane enhances production efficiency and mitigates internal short-circuit issues, facilitating the assembly of solid-state electrolytes [4][2]. Industry Development Timeline - The solid-state battery industry is on track for commercialization, with key milestones set for 2025. Notable dates include: - July-August 2025: Focus on the industrialization of emulsions and polymers - September 2025: Entry into the national inspection experimental window - October 2025: Commencement of production line tenders [5][8]. Investment Opportunities - Investment in the solid-state battery sector should focus on areas with significant changes in dry processing, such as lithium sulfide and lithium metal anodes. Other promising areas include iron-based current collectors, skeleton membranes, and non-sulfide polymers [6][12]. - Companies like "下乌普台来", "联赢先汇", "冠盛", and "三强" have shown strong performance in the mid-year reports, indicating defensive investment potential [6]. Equipment and Production Insights - Full solid-state equipment is expected to see a doubling in production line value, with significant increases in investment amounts due to new technologies and improved processes. The overall investment in the sector is projected to rise significantly [7][10]. - The application of isostatic pressing technology in battery manufacturing is enhancing value, with traditional and leading manufacturers collaborating on equipment development [10]. Future Industry Events - Upcoming industry summits in July-August will focus on emulsions and polymers, with significant activities planned for September and October that are expected to catalyze industry growth [8]. Conclusion - The solid-state battery industry is poised for rapid growth, driven by technological advancements and supportive policies. Key materials and production processes are evolving, presenting numerous investment opportunities and potential for significant returns in the coming years [11][12].