Solid-state battery concept stocks saw significant movement! After several consecutive days of gains, solid-state battery-related stocks strengthened again on October 30. Within just five minutes of market opening, Sunwoda Electronic Co., Ltd. was pulled up sharply to a 20% limit-up, while other stocks such as Xinwangda, Tianji Shares, Dazhong Mining, and Tianyuan Co. also rose significantly.

From a news perspective, both Sunwoda and Xinwangda had positive developments. Sunwoda reported a nearly 10-fold year-on-year increase in Q3 net profit, while Xinwangda’s subsidiary, Xinwangda Power, unveiled a solid-state battery with an energy density of 400Wh/kg.

At the industry level, the commercialization of solid-state batteries is accelerating. Some brokerages have expressed optimism about the thematic trend of solid-state batteries as a new lithium battery technology.

**Solid-State Battery Stocks Gain Momentum** During today’s session, lithium battery concept stocks showed strong movement. By the close, Sunwoda, Dazhong Mining, Tianji Shares, Changlu Co., Jiangte Motor, and Pulutong hit the limit-up, while Tianhua New Energy rose over 14%, Xinwangda surged more than 10%, Tianqi Lithium gained nearly 10%, and Huasheng Lithium increased over 7%.

Sunwoda disclosed its Q3 earnings report last night, showing revenue of RMB 3.28 billion, up 74.96% YoY, and net profit attributable to shareholders of RMB 203 million, soaring 977.24% YoY. For the first three quarters of 2025, revenue reached RMB 7.581 billion, up 34.23% YoY, while net profit rose 89.33% to RMB 115 million. Sunwoda attributed the growth to strong industry demand, increased production and sales, and higher order volumes.

Xinwangda also released its Q3 report, posting revenue of RMB 16.549 billion (+15.24% YoY) and net profit of RMB 550 million (+41.51% YoY). For the first nine months, revenue totaled RMB 43.534 billion (+13.73% YoY), with net profit up 15.94% to RMB 1.405 billion.

Xinwangda Power announced on its official WeChat account that it had launched a polymer-based all-solid-state battery, "Xin·Bixiao," marking a major breakthrough in solid-state battery technology. Dr. Xu Zhongling, head of Xinwangda Power’s Central Research Institute, stated that the battery boasts an energy density of 400Wh/kg, long cycle life, and high safety, calling it a "milestone for future lithium batteries."

The battery, Xinwangda Power’s first polymer-based solid-state battery, achieved over 1,200 cycles with less than 1MPa external pressure and passed rigorous tests, including a 200°C thermal chamber. Dr. Xu emphasized that the success stemmed from systematic innovations in materials, design, and manufacturing.

Additionally, Qichacha data shows that Zhejiang Li Auto Battery Co., Ltd. was recently established with a registered capital of RMB 70 million, engaging in battery manufacturing, sales, and new energy R&D. The company is wholly owned by Shandong Li Auto Battery Co., Ltd., which is jointly held by Xinwangda Power and Beijing Li Auto Co., Ltd.

**Commercialization May Accelerate** Notably, the solid-state battery industry has seen multiple positive developments recently.

A research team led by Huang Xuejie from the Chinese Academy of Sciences, in collaboration with Huazhong University of Science and Technology and the Ningbo Institute of Materials Technology and Engineering, developed an anion regulation technique to address the poor contact between solid electrolytes and lithium electrodes in all-solid-state metal batteries. The findings were published in *Nature Sustainability*.

Prototype batteries using this technology demonstrated stable performance after hundreds of cycles, far exceeding existing standards. The new design simplifies manufacturing, reduces material use, and enhances durability, potentially benefiting humanoid robots, electric aviation, and EVs. Professor Wang Chunsheng of the University of Maryland, a solid-state battery expert, called it a "decisive step toward commercialization."

Several listed companies have also disclosed progress in solid-state batteries. Dangsheng Technology stated that its ultra-high-nickel and lithium-rich manganese-based materials for all-solid-state batteries have achieved batch supply exceeding 20 tons. Its high-nickel materials for solid-state batteries perform close to liquid batteries in cycle life and capacity, with energy density exceeding 400Wh/kg. Semi-solid-state cathode materials, developed earlier, have passed nail penetration and 200°C thermal tests, ensuring high safety for drones, eVTOLs, and humanoid robots, with cumulative shipments reaching thousands of tons.

Farasis Energy announced on October 28 that its solid-state battery pilot line is under steady construction, with semi-solid-state batteries already sent to a leading global logistics drone company for testing. Guanghua Technology stated on October 23 that its solid-state battery materials are in the sampling and optimization phase. Guoxuan High-Tech revealed on October 20 that its all-solid-state battery is in pilot production, with plans to complete design finalization for a 2GWh production line by year-end.

Huachuang Securities noted that, according to GGII, the solid-state battery industry has established a clear roadmap, with major battery and automaker players targeting small-scale vehicle deployment by 2027 and mass production by 2030.

Kaiyuan Securities believes solid-state batteries are transitioning from lab to mass production, with small-scale vehicle testing expected by late 2025 and broader adoption in 2026–2027. Emerging applications like drones, robots, and AI could further expand the market, accelerating commercialization. Investors are advised to monitor the sector’s performance.