Core Viewpoint - Nandu Power has launched the world's first 30Ah all-solid-state battery with an energy density of 350Wh/kg, utilizing innovative technologies to reduce costs and enhance performance, positioning itself as a strong competitor in the solid-state battery market [1][12]. Group 1: Technology Innovations - The core technology of Nandu Power's solid-state battery lies in the "sandwich electrolyte" design, which reduces interfacial resistance by 30% and maintains 80% capacity after 2000 cycles, equating to five years of daily use [1]. - The "dry electrode" process eliminates the need for solvents, increasing production efficiency by 20% and reducing costs by 15% [2]. - The production line achieves a cost of 0.8 yuan per kWh, which is half the cost of competitors like CATL [3]. Group 2: Market Strategy - Nandu Power focuses on niche markets such as drones and low-altitude aircraft, rather than competing directly in the electric vehicle sector [6]. - Their solid-state batteries significantly enhance drone performance, increasing range from 120 km to 200 km and maintaining functionality in extreme cold [6]. - In the energy storage sector, they offer a 783Ah storage cell that can store 2.5 kWh and maintain 95% capacity after 15,000 cycles, effectively doubling the lifespan compared to competitors [7][8]. Group 3: Material and Production Efficiency - Nandu Power reduces costs by substituting expensive materials, using silicon-carbon anodes to cut anode costs by 40% and lowering cobalt content in cathodes to 5% [9]. - The production equipment has been modified to reduce investment costs by 20% while achieving a 98% yield rate [11]. - The company has developed a roll-to-roll production machine in collaboration with Zhejiang University, which directly prints electrolyte films, eliminating the need for separators and liquid electrolytes [10]. Group 4: Competitive Landscape - Nandu Power's stock has surged by 200% in three months, prompting CATL to expand its sulfide electrolyte research team [12]. - Nandu Power holds 11 core patents related to solid-state battery technology, creating significant barriers for competitors [13]. - A major drone manufacturer has successfully tested Nandu Power's batteries, achieving a flight time increase from 45 minutes to 72 minutes, showcasing superior safety and performance [14]. Group 5: Strategic Partnerships and Market Potential - Nandu Power has formed a strategic agreement with Taiblue New Energy to develop hybrid electrolyte batteries targeting an energy density of 400Wh/kg by 2026 [18]. - The company has partnered with Lian De Equipment to develop the world's first dedicated production line for dry electrodes, significantly reducing equipment costs [19][20]. - Institutional investors have shown strong interest, with Hillhouse Capital investing 1.5 billion yuan, highlighting a gross margin of 29% for Nandu Power's solid-state batteries, which is 20 percentage points higher than traditional lithium batteries [22].