2024 05 15()S1050521120002 S1050122090009 1M 3M 12M()-0.4 13.4-29.7 300 3.0 8.7-8.5 Wind 1 2024-04-29 2 2024-03-31 3 2024-03-24-eVTOL eVTOL Solid Power SDI 1 2 3 4-50-40-30-20-10010(%)300 2 2024-05-14 EPS PE 2023 2024E 2025E 2023 2024E 2025E 300750.SZ 199.01 11.79 11.09 13.28 17 18 15 300073.SZ 42.07 3.80 2.26 2.76 11 19 15 603663.SH 16.48 0.19 0.35 0.46 87 47 36 Wind YWCXvMtOtQpOoQpMqNrOmN8OdNbRoMnNmOmQjMrRrMjMmNqObRrRuNuOqQtPuOnOsO 3 1.6 1.1.6 1.2.9 1.3.13 1.4 eVTOL.18 2.19 2.1.19 2.2.21 2.3.23 2.4.24 2.5.25 3.27 4.28 4.1.28 4.2.28 4.3.30 4.4.31 4.5.32 4.6.33 5.34 1.6 2/.6 3.7 4.7 5.8 6.8 7-20.8 8.9 9.9 10.9 11.10 12.11 13.12 14.12 4 15.13 16.13 17.14 18 Solid Power.15 19 Solid Power.15 20 QS.15 21 QS.15 22.15 23.16 24.17 25.18 26 eVTOL.18 27.20 28.20 29 LLZTO/.20 30.21 31.22 32.22 33.23 34.23 35.24 36.24 37.25 38.25 39.26 5.27 41 500Wh/kg.28 42.28 43.29 44.29 45.29 46.30 47.30 48.30 49.31 50.32 n0GOuzUYOjiBcRCqWhkSmJKvZxvDHl7CnYBIQwX/6MNbfsSuHVaajGw6EQeamFzI 5 51.33 6 1 1.1 1 2/7 3 4 1 2 8 3 5 6 Tailoring polymer electrolyte ionic conductivity for production of low-temperature operating quasi-all-solid-state lithium metal batteries-20-50 7-20 Tailoring polymer electrolyte ionic conductivity for production of low-temperature operating quasi-all-solid-state lithium metal batteries/170 140-145 3.2 280 175 3.5 350 250 4.5 372 300-345 4200 400-650 3860-9 8 1.2 9 10 Solid-State Battery Roadmap 2035+10 NASICON LISICON LLZO NASICON Ti4+11 LATP S2-O2-Li+Thio-LISICON LGPS 1-2 Thio-LISICON LGPS Ge Sn Si Al Ge-1 10-11 1 NASICON 10-11 LISICON 10-4 1 11 12-1)50Li2S-50GeS2-50.560Li2S-40SiS2-40.2575Li2S-25P2S5-40.3557Li2S-38SiS2-5Li4SiO4-30.3730Li2S-26B2S5-44LiI-30.3070Li2S-30P2S5-20.18Li7P3S11-40.32Li7P2.9Ce0.2S10.9Cl0.3-30.22Li7P2.9Mn0.1S10.7I0.3-30.2270Li2S-29P2S5-1Li3PO4-30.19Li3.25Ge0.25P0.75S4-30.21Li3.325P0.935S4-40.23Li3.4Si0.4P0.6S4-40.29 0.4LiI-0.6Li4SnS4-40,44Li10GeP2S12-20.25Li10SnP2S12-30.60Li10SiP2S12-30.20Li10GeP2S11.4O0.6-30.22Li9.54Si1.74P1.44S11.7Cl0.3-20.24Li6PS5Cl-30.22Li6PS5Br-30.27Li6PS5I-70.32Li5.5PS4.5Cl1.5-30.29Li6.75Si0.75Sb0.25S5I-20.17 12 13 Solid Power SDI 14 SSB IT PEO 10-7-4S/cmPS 10-6-4S/cmPAN-3-10-4S/cm PMMA-3-10-4S/cm QuantumScape 350Wh/kg Solid Power 440Wh/kg 350Wh/kg 330Wh/kg 368Wh/kg 350Wh/kg 900Wh/L 13 1.3 2027-2030 SDI LG Solid Power Quantum Scape 15 16 E70 14 Solid Power 2025 2030 QS 2025 Factorial Energy 2028 2025 2030 17 GGII Solid Power QS Solid Power 2022 300 2023 11 A 2024 B C 2025 D SOP Solid Power 2024+440Wh/kg 2026+560Wh/kg 2021 1 2022 1 50 E70 2023 1 1 13 82 170wh/kg 2023 150 2023 ET7 360 wh/kg 2023 SUV-SERES-5 2023 SERES 5 90(WLTP)530km 2023 2023 4 L6 900V 368Wh/kg 1000km 12 400km 2025 2022 1 2025/2025 QuantumScape 3 QuantumScape 2022 A 2025 Quantum Scape2025 2023 1 Solid Power Solid Power 2025 2030 Solid Power2026-2030 2025 2030 2022 430(22)2024 20262030 2028 2023 1 27(ProLogium)FactorialEnergy 2028 Factorial Energy2028 2022 2024 2028 2023 2 2025 2028/Vinfast2022 7 vinFast 2024 VinFast/2016/15 18 Solid Power 19 Solid Power SSB Solid Power QS 2024 PowerCo QS 1000 95%QS 2024 B 2025 20 QS 21 QS QS QS 2001 2006 1000 2027-2028 621 993 10 10%80%745 1192 22+NCM811+NCM811 390Wh/kg 440Wh/kg 560Wh/kg 930Wh/L 930Wh/L 785Wh/L 15min 10%-90%SOC20min 10%-90%SOC 30min 10%-90%SOC+NCM811+NCM811+390Wh/kg 440Wh/kg 560Wh/kg 930Wh/L 930Wh/L 785Wh/L 1000+1000+1000+15min 10%-90%SOC20min 10%-90%SOC 30min 10%-90%SOC2225242626 16 2023 4 500Wh/kg 330Wh/kg 360Wh/kg 150kWh 2024 4 1.1GWh 2025 MG 2023 SERES-5 12 2026 Vinfast 23(GWh)2023 4GWh,30.3GWh 2023 2.7GWh,10GWh 2023 5.8GWh,46GW 2023 2GWh,48GW 2023 0.2GWh,12GW GWh 2023 1GWh 2024 10GWh PACK 2GWh,10GWh&58.355128.25012.210201010222301-17 24 GGII(Wh/kg)/1000/300-350/350-400/350-450/2023 3 11 Y6/360 Vinfast ACC2024 368 350-400 2024 4C 1000-1500/260-400500330500360400600330360 2024 150()20Ah 2025 400Wh/kg 450-500 2024Q4 Vinfast ACC FEV Gogoro 2023 1083 24 5%,20%;2025 MG 10 2027 500Wh/kg 2023 6 0.4GWh 10 2024 4 2022 2022 50 E70 2023 SERES-5,122026 18 1.4 eVTOL 2024 3 2024-2030 2027;2030 2023 12 25 eVTOL eVTOL eVTOL eVTOL 26 eVTOL GGII 285Wh/kg,2030 500Wh/kg,2040 1000 Wh/kg2030 1.25kW/kg,2040 2.5kW/kg 5C 10000 19 2 1 2 3 4 2.1 20 27 1GWh 106 LiTFSI 178 LLZTO 101 45 11 28 29 LLZTO/1300 6000 3000-LiTFSI 106LLZTO 178DMAC 4384NMP 130 21 30 2.2 4V 5V 350mAh/g 4.5V-22 31 2022 4 2022 5-2027 4 2022-2025 3 2021 12 2022 7 2.5 3 2022 32 170 140-145 3.2 280 175 3.5 350 250 4.5 23 2.3 4200mAh/g SEI 3860mAh/g-3.04V 0.534g/cm3 SEI 33 34 2000 1500mAh/g 2023 5000 4 2024 1.2 2025 7000 500 372 300-345 4200 400-650 3860-24 35 36 2.4 1 2 3 4 25 37 38 2.5-26 39 27 3+-eVTOL eVTOL Solid Power SDI 1 2 3 4 40 2024-05-14 EPS PE 2023 2024E 2025E 2023 2024E 2025E 300750.SZ 199.01 11.79 11.09 13.28 17 18 15 300073.SZ 42.07 3.80 2.26 2.76 11 19 15 603663.SH 16.48 0.19 0.35 0.46 87 47 36 Wind 28 4 4.1 2023 4 500Wh/kg 100%2023 7 2027 10Ah 41 500Wh/kg 42 4.2 2021 12 2022-2025 2.5 2022 7 2022-2025 3 29 43 420Wh/kg 400-500Wh/kg 2027 65GWh 1GWh 150kWh 44 45 ET7 368Wh/kg 368Wh/kg 150kWh 30 46 47 4.3 70%30%2023 1 50 2024 2 2024 2024 48 6 0.2 22 100 10 10 15 20 10 31 4.4 2021 8 7 8 5 2 15%2022 49 2022 32 4.5 150 LLZO LLZTO 2023 3 50 33 4.6 51 BET=20-40m2/g 34 5 1 2 3 4 5 35 PE 2017 5 2021 2021 1 20%2 10%0%3-10%10%4 10%2-10%10%3-10%12 A 300 36/HX-240515141244