The solid-state battery sector has been rising for a month, and Xiangtan Electrochemical Industry has had five consecutive daily limit-up boards.

In the A-share market lacking a main theme, solid-state batteries remain the "star performer".

On June 24, the solid-state battery concept sector continued to be active. According to Flush iFind, the solid-state battery index (886032.TI) soared 4.45% to close at 1009.808 points. This is the first time in two years that the solid-state battery index has returned above 1000 points.

The performance of the sector index indicates that the gains of solid-state battery concept stocks are even more astonishing.

Times Finance noticed that Xinde New Materials (301349.SZ), Liyuanheng (688499.SH), Taihe Technology (300801.SZ), and Huasheng Lithium (688353.SH) had a daily limit up of 20%. Stocks such as Zhenhua New Materials (688707.SH) and Yuchen Intelligence (688638.SH) rose more than 12%. Many stocks including Dadongnan (002263.SZ), Nord Co., Ltd. (600110.SH), Saiwu Technology (603212.SH), Guoxuan High-Tech (002074.SZ), Xiangtan Electrochemical (002125.SZ), and Hongtian Co., Ltd. (603800.SH) hit the daily limit.

On June 25, the solid-state battery sector continued its upward trend, rising 0.64% by the midday close. Xiangtan Electrochemical opened with another daily limit, achieving five consecutive daily limits.

"The sector index has recently reached a record high, indicating that there is momentum for capital to go long," Ma Sai, the founder of Saibo Capital, told Times Finance. "Solid-state batteries are regarded as the core technology for the future of the EV industry, and the market sentiment is positive. Investors generally have high expectations for the growth potential of industry leaders, and there is a significant inflow of hot money."

The hot sector has risen for a month

As one of the few persistent hot spots in the A-share market this year, the solid-state battery sector has been rising for a consecutive month.

According to Flush iFind, from the first trading day in June to June 24, the solid-state battery index has risen for 16 consecutive trading days, with a cumulative increase of 14.05% during the period.

"China leads the world in the research and development of solid-state batteries and competes with countries such as Japan and South Korea. It has obvious advantages in cost control and large-scale production, and the industry has room for growth," said Ma Sai.

As Times Finance has learned, the rise of the solid-state battery sector is related to continuous positive news.

Since 2025, the solid-state battery industry has been constantly catalyzed by events. Industry policies have continuously supported the development of the solid-state battery industry, relevant industry standards have been continuously improved, and the product R & D progress of relevant enterprises has accelerated.

In March, the mandatory national standard "Safety Requirements for Power Batteries for Electric Vehicles" (GB38031 - 2025) was released and will come into effect on July 1, 2026. The new rule makes it a mandatory requirement for power batteries to "not catch fire and not explode". Solid-state batteries have outstanding safety performance and are expected to welcome rapid development opportunities.

In April, the Ministry of Industry and Information Technology issued the "Key Points of Industrial and Information Technology Standardization Work in 2025", which proposed to establish and improve the standard system for all-solid-state batteries to accelerate their industrialization process.

In May, the Society of Automotive Engineers of China released the group standard "Determination Method for All-Solid-State Batteries", which clarified the definition of all-solid-state batteries and solved problems such as vague industry boundaries and the lack of testing methods.

At the enterprise level, news about the progress of solid-state batteries has also emerged one after another.

In February this year, Changan Automobile announced that the energy density of Changan's all-solid-state battery reaches 400wh/kg, and the cruising range in a fully charged state exceeds 1500 kilometers. It plans to launch a functional prototype of the solid-state battery by the end of 2025, conduct vehicle verification in 2026, and gradually promote the mass production of all-solid-state batteries in 2027. In May, Guoxuan High-Tech announced that its first all-solid-state experimental production line was connected, with a designed production capacity of 0.2GWh, and the localization rate of core equipment is 100%.

Times Finance noticed that there is almost positive news about solid-state batteries every month in the market, which has sustained the market trend of solid-state batteries.

A research report from Kaiyuan Securities pointed out that from June 19 - 20, the 5th China International Conference on Solid-State Battery Technology was held in Hefei, Anhui, further promoting the industrialization progress of solid-state batteries. Later, events such as the Solid-State Battery Conference and Silicon-Based Anode Industry Innovation Conference on July 3 and the 2025 Electrolyte Innovation Development Forum and Solid-State Battery Seminar on July 9 are expected to further accelerate the industrialization of the solid-state battery industry.

"We expect that 2025 - 2026 will be the critical period for the implementation of solid-state battery pilot lines; in 2027, semi-solid-state batteries will be commercially applied, and all-solid-state batteries will enter vehicle verification; in 2030, all-solid-state batteries will reach an industrialization inflection point," the aforementioned securities institution said.

Speculation on the theme, individual stocks double in value

"As the world's largest EV market, China's demand for solid-state batteries will grow rapidly. It is expected that in 2027, China will achieve large-scale commercial application of solid-state batteries," said Ma Sai. "The market's optimistic sentiment towards the solid-state battery sector mainly stems from its technological potential, but there are also risks: raw material fluctuations, fluctuations in the technical aspects of individual stocks, international competition pressure, and the impact of negative news."

From the first trading day in June to June 24, the top five stocks in the solid-state battery sector in terms of gains were Keheng Co., Ltd. (300340.SZ, up 113.65%), Nord Co., Ltd. (up 87.95%), Haike Xinyuan (301292.SZ, up 73.83%), Xinyuren (688573.SH, up 73.40%), and Taihe Technology (up 64.58%).

Xiangtan Electrochemical, which has continuously hit the daily limit in late June, had four consecutive daily limits as of June 24, with a cumulative increase of 52.83%. It opened with another daily limit on June 25. If Xiangtan Electrochemical maintains the same daily limit strength as in the past few days until the end of the month, its overall increase is expected to exceed 80%.

Source: Flush iFind

It is worth noting that the solid-state battery sector in the secondary market is still in the stage of theme speculation, and there is currently no performance support logic for the mass production of solid-state batteries. Many listed companies' layouts for solid-state batteries are mostly in the testing stage, and there is still a long way to go before commercial mass production.

Take Xiangtan Electrochemical, which is expected to become the "monster stock" in the solid-state battery sector, as an example. On June 23, Xiangtan Electrochemical mentioned in its abnormal trading announcement that the company's board of directors confirmed that there are currently no matters that should be disclosed but have not been disclosed according to relevant regulations such as the "Stock Listing Rules of the Shenzhen Stock Exchange", nor are there any plans, discussions, intentions, agreements, etc. related to such matters. The board of directors is also not aware of any information that should be disclosed but has not been disclosed according to relevant regulations and has a significant impact on the trading price of the company's stocks and their derivative products. There is no need to correct or supplement the information previously disclosed by the company.

Xiangtan Electrochemical mentioned at its performance briefing on May 28 that the company has established a joint R & D mechanism with some solid-state/semi-solid-state battery enterprises, and technological breakthroughs include the Shield Armor technology to improve the high-temperature cycle performance of lithium manganate. Apart from this, the company has no more news about solid-state batteries.

As Times Finance has learned, the biggest problem with solid-state batteries at present is the relatively high production cost. Therefore, cost reduction is a necessary step in the industrialization process. According to data from Gaogong Industry Research, from January to April 2025, the expansion of solid-state battery production capacity exceeded 50GWh, the total planned production capacity exceeded 450GWh, and the actual production capacity put into operation exceeded 25GWh.

This article is from the WeChat official account "Times Finance APP" (ID: tf - app), author: He Mingjun, published by 36Kr with authorization.