Core Viewpoint - Haike Xinyuan has become a star stock in the new energy sector, with its stock price increasing over twofold in less than a month, despite ongoing losses in the first three quarters of the year, primarily due to its strategic positioning in the solid-state battery field [1] Group 1: Company Developments - Haike Xinyuan signed cooperation agreements with Kunlun New Materials and Hefei Qianrui, both involved in solid-state electrolyte research [1] - The agreement with Kunlun New Materials includes a procurement of 596,200 tons of electrolyte solvents over two years, with Kunlun committing to prioritize Haike Xinyuan in raw material supply [1][2] - Haike Xinyuan's ongoing R&D investments in solid-state battery electrolytes include products like oxide solid-state electrolytes and gel electrolyte monomers, with some already in pilot testing [3] Group 2: Financial Performance - Haike Xinyuan reported a net loss of 267 million yuan last year and continued to incur losses of 128 million yuan in the first three quarters of this year [3] - Despite financial losses, the company has attracted significant market interest, largely due to its involvement in the solid-state battery concept [3] Group 3: Industry Context - Kunlun New Materials, although not publicly listed, has a client base that includes major companies like CATL and has planned a total of 600,000 tons of electrolyte production capacity [2] - The company had previously aimed for an IPO in 2023 to raise 1 billion yuan for a lithium-ion battery electrolyte project but terminated the process due to regulatory inquiries [2] - Kunlun New Materials has also made advancements in solid-state electrolytes, with positive feedback from domestic and international clients [2][3] Group 4: Future Outlook - The industry anticipates that semi-solid batteries will enter mass production by 2025, with full solid-state battery prototypes expected by 2027 and small-scale production by around 2030 [3] - The focus on solid-liquid hybrid technology is seen as crucial for enhancing the competitiveness of liquid batteries, with ongoing efforts to improve safety, cycle life, and low-temperature performance [3]