Original Ningmo

Three solid state battery concept stocks were bought by foreign investors in large quantities during the year.

New breakthrough in dry preparation of all solid state batteries

According to the Qingdao Institute of Bioenergy and Process, Chinese Academy of Sciences, the research team of the Institute's Solid Energy System Technology Center has made use of melt bonding technology to dry prepare ultra-thin sulfide solid electrolyte film with excellent flexibility. Its excellent mechanical properties, ionic conductivity and stress dissipation characteristics can effectively inhibit the mechanical failure caused by uneven internal stress of the battery. The integrated all solid state battery prepared by the method has excellent interface stability and long cycle performance.

At present, liquid battery is the mainstream technology of lithium battery in the world, with mature process and supply chain and low cost. However, the intrinsic safety problems and energy density of battery limit its further development. All solid state batteries use solid electrolyte instead of flammable and explosive electrolyte to achieve intrinsic safety of batteries. At the same time, positive and negative electrode materials with higher specific capacity can be used to open the ceiling of energy density of lithium batteries, which is an inevitable choice to comprehensively improve the performance of lithium batteries.

According to different electrolyte types, solid state batteries mainly include three technical routes: polymer, oxide and sulfide. Compared with other two types of solid state batteries, sulfide electrolyte has the highest ionic conductivity, wide electrochemical window, good flexibility and plasticity, and is one of the most ideal solid state electrolytes at present.

At present, major overseas enterprises such as Solid Power Toyota Samsung SDI and other enterprises have chosen the sulfide route as the technology direction of solid state batteries, and mainly focus on the research and development of all solid state batteries; Domestic enterprises, such as Weilan and Qingtao, have chosen the oxide route and developed and produced semi-solid batteries first. Although there are some differences in the choice of technology paths among enterprises, from the current trend, oxides and semi-solid, sulfides and all solid state become the mainstream, and sulfides may become the final technology path of all solid state batteries.

The research results of the research team are of great significance to the commercialization of sulfide all solid state batteries, and provide a strong reference for future scientific research and process technology development of all solid state batteries.

Several A-share companies disclose their layout progress

On the A-share market, several companies recently disclosed their layout progress through interactive platforms.

The research and development of high-energy era sulfide all solid state lithium battery invested by Blue Ocean Huateng is progressing smoothly. At present, the development of 20Ah class all solid state battery cell sample A has been completed. At the same time, the high-energy era is building a pilot line. It is expected that the mass production of small battery cells within 5Ah can be achieved by the end of 2024. The recent performance of the stock has been strong. The monthly K line has been positive for three consecutive days, and the stock price has risen by more than 200% since the lowest point in February.

In terms of cathode materials for solid state batteries, Xiamen Tungsten New Energy focuses on the matching of cathode materials and solid electrolyte, and achieves initial mass production of all solid state batteries of halides and sulfides.

Rongbai Technology has completed the development of sulfide, oxide and other solid electrolyte materials, and successfully developed wet and dry electrode preparation of solid electrolyte membrane technology. It has cooperated with customers at home and abroad, and has won praise from customers.

Dangsheng Technology has carried out research and development investment for many years in the field of solid lithium battery cathode materials and solid electrolyte, and has systematically laid out the key material technology routes for mainstream solid batteries such as oxides, sulfides, polymers, which can be applied to semi-solid and all solid batteries. Relevant solid lithium battery products have been sold in batches.

Enjie has laid out all solid state projects three years ago, mainly engaged in the research and development of all solid sulfide, solid electrolyte and other related materials, and achieved breakthroughs in technology and mass production in 2023.

Multinational policies support the development of solid state batteries

Industry demand will grow rapidly

In recent years, countries have accelerated the layout of solid-state battery industry, launched relevant policies and plans, and defined the main development goals of solid-state batteries.

For example, in the United States, funded by the Department of Energy, start-ups led research and development, and reached cooperation with many automobile enterprises. The goal is to achieve 500Wh/kg energy density for solid-state batteries by 2030. Japan has built a joint research and development system between automobile enterprises and battery factories, and strives to achieve the commercialization of all solid state batteries by 2030, with the energy density target of 500Wh/kg.

Domestically, in October 2020, the Technical Roadmap for Energy Saving and New Energy Vehicles, which was prepared under the guidance of the Ministry of Industry and Information Technology and led by the Chinese Society of Automotive Engineering, pointed out that by 2025 and 2030, the energy density of single power battery needs to reach 400Wh/kg and 500Wh/kg respectively. At present, it is difficult for the liquid lithium battery system to achieve an energy density of more than 300Wh/kg, so it is planned to focus on solid state batteries to improve the energy density of batteries and reduce their costs.

In January 2023, the Guiding Opinions on Promoting the Development of Energy Electronics Industry jointly issued by the Ministry of Industry and Information Technology and other departments further proposed to strengthen the research on solid state battery standard system.

According to the prediction of Guosheng Securities, the global demand for solid state batteries will be 17.3GWh in 2025. By 2030, the global market size of solid state batteries is expected to exceed 200GWh, with a compound annual growth rate of 65.8% from 2025 to 2030.

At the industry level, because the advantages of solid state batteries lie in safety and endurance, they are expected to be applied in the flight end, new energy vehicle end, consumer electronics end and energy storage end in the future. For example, at the flight end, low altitude economy is expected to open the growth space for solid state batteries.

In March 2024, the Ministry of Industry and Information Technology and other four departments jointly released the Implementation Plan for Innovative Application of General Aviation Equipment (2024-2030), proposing that by 2027, new general aviation equipment will be commercialized in urban air transportation, logistics, emergency services and other fields; By 2030, the scale of low altitude economy is expected to reach trillions.

New general aviation equipment, such as eVTOL (electric vertical takeoff and landing aircraft), puts forward strict standards for battery technology, emphasizing high energy density, safety and magnification performance, which is highly consistent with the characteristics of solid state batteries. As a key component of eVTOL, battery performance directly affects its performance and market acceptance. The rapid development of eVTOL is expected to accelerate the industrialization of solid state batteries.

The institutions are clustered to be optimistic about these stocks

According to the statistics of Securities Times · Databao, among the concept stocks of solid state battery, 16 stocks such as Yiwei Lithium Energy and New Zebang have been rated by more than 10 institutions as positive (including buying, shareholding increase, strong recommendation, etc.), and the institutions unanimously predict that the growth rate of net profit this year is expected to exceed 20%. Including Zhongtian Technology GAC Group Zhuhai Guanyu 3 shares were purchased with a large amount of capital from Beijing within the year.

Zhongtian Technology was unanimously predicted by 18 institutions that the net profit of this year would increase by 23.7% year on year. During the year, it received a net purchase of 106 million shares from Beishang Capital. On April 11, Zhongtian Technology said on the interactive platform that the company had already laid out solid state battery research in the early stage. At present, based on the existing production line of semi-solid state batteries, the pilot test has been completed.

GAC Group was unanimously predicted by 10 institutions that the net profit of this year would increase by 31.28% year on year, and it had net purchase of 28.894 million shares by Beishang Capital during the year. GAC Group said on its official micro blog last November that, GAC Ai'an Through the special design of solid electrolyte composition in the laboratory, an interface buffer layer is induced on the negative electrode surface, which can effectively reduce the interface impedance and improve the interface stability. The problems of large contact impedance and poor stability caused by the interface of conventional solid state batteries due to solid solid contact, as well as the problems of serious power decay and shortened life caused further, were solved, and the breakthrough of solid state batteries from laboratory to mass production application was achieved.

Zhuhai Guanyu was unanimously predicted by 14 institutions that the net profit of this year will increase by 133.7% year on year, and the company will acquire 11.2642 million shares net purchased by Beishang Capital in this year. Zhuhai Guanyu said in its 2023 annual report that the company has developed special cathode materials for solid state batteries, effectively solving the problem of poor compatibility between the cathode and electrolyte interface of solid state batteries, and has prepared solid state battery samples with energy density up to 350Wh/kg by using the solid electrolyte film and special cathode materials. Through continuous R&D and improvement, the company's solid state battery samples have good safety performance and cycle life.

Statement: All the information content of Databao does not constitute investment advice. The stock market is risky, so investment should be cautious.