Core Viewpoint - The lithium battery leader CATL's stock prices surged in both A-shares and H-shares, driven by positive developments in the solid-state battery sector and favorable company reports [1][4]. Industry Developments - The Ministry of Industry and Information Technology, along with eight other departments, issued a plan to accelerate the application verification of solid-state battery materials and promote innovative applications of advanced materials [3]. - The solid-state battery industry is entering a critical phase of industrialization, characterized by rapid market growth, focused technological routes, and expanding application scenarios [7]. Company Developments - Morgan Stanley reiterated its "overweight" rating on CATL's A-shares and H-shares, highlighting the potential of new NCM811 battery products to enhance battery capacity to 80kWh and extend range beyond 600km [4]. - CATL's stock price increased by over 3% in A-shares and 4.43% in H-shares, with significant trading volumes reported [1]. Market Reactions - The CATL industry chain index saw a rise, with several related stocks experiencing significant gains, including Kodali (up 10%), Tianci Materials (up over 9%), and others [4][5]. - The solid-state battery supply chain is expected to benefit first from the accelerating industrialization, with downstream market demand anticipated to grow explosively [8].

Core Viewpoint - Morgan Stanley reports that CATL may launch NCM811 battery products next year, increasing the capacity of extended-range electric vehicle (EREV) batteries to 80kWh, up from the current range of 30 to 50kWh [1] Group 1: Product Development - CATL's new product is expected to enhance the driving range of EREV vehicles to over 600km, following the introduction of the Freevoy battery this year [1] - The new technology can integrate with the advanced NP3.0 (non-propagation) technology, improving safety and longevity, thereby increasing cycle life [1] Group 2: Market Positioning - Morgan Stanley maintains a target price of 425 RMB for CATL's A-shares and reiterates an "overweight" rating for its Hong Kong shares [1] - The continuous iteration of CATL's products demonstrates the company's capability in providing better performance for power system solutions [1]

Core Viewpoint - Morgan Stanley reports that CATL (Contemporary Amperex Technology Co., Limited) may launch NCM811 battery packs next year, increasing the capacity of extended-range electric vehicle (EREV) batteries to 80 kWh, up from the current range of 30 to 50 kWh [1] Group 1: Product Development - CATL is expected to enhance its EREV market offerings with the new battery product, potentially improving vehicle range to over 600 km [1] - The new technology can integrate with the advanced NP3.0 (non-propagation) technology, enhancing safety and longevity, thereby increasing cycle life [1] Group 2: Market Positioning - Morgan Stanley maintains a target price of 425 RMB for CATL's A-shares (300750.SZ) and reiterates an "overweight" rating for its Hong Kong shares [1] - The introduction of the new product is seen as a demonstration of CATL's capabilities in providing power system solutions, showcasing the company's continuous innovation [1]

摩根士丹利发表研报指，有媒体称，宁德时代可能于明年推出NCM811电池组产品，将增程序电动车 (EREV)电池容量提升至80kWh，较目前每单位30至50kWh有所增加。宁德时代尚未确认此消息。大摩 表示，继宁德时代今年向EREV市场推出Freevoy电池产品后，认为明年新产品可进一步将公司续航里程 提升至大于600km。新技术可与最先进的NP3.0(无传播)技术结合，提升安全性和长寿技术，以增加循环 寿命。大摩视此为宁德时代展示其动力系统解决方案能力的另一例证，并指公司迭代不断，旨在为动力 系统提供更好的性能。大摩重申对宁德时代A股"增持"评级，目标价425元；同予其港股"增持"评级。 ...

Core Viewpoint - Morgan Stanley reports that CATL may launch NCM811 battery products next year, increasing EREV battery capacity to 80kWh, up from the current 30-50kWh [1] Group 1: Product Development - CATL has not yet confirmed the news regarding the new battery product [1] - The new product is expected to enhance the range of electric vehicles to over 600km, following the introduction of the Freevoy battery this year [1] - The new technology may integrate with the advanced NP3.0 (non-propagation) technology to improve safety and longevity, thereby increasing cycle life [1] Group 2: Market Position and Ratings - Morgan Stanley views this development as evidence of CATL's capability in power system solutions, highlighting the company's continuous iteration for better performance [1] - Morgan Stanley maintains an "Overweight" rating for CATL's A-shares with a target price of 425 yuan, and also gives an "Overweight" rating for its Hong Kong shares [1]