On the afternoon of September 23, President Xi Jinping departed Beijing by special plane for a visit to the United States. What will be discussed, what will be negotiated—everyone can speculate and adjust their investment strategies accordingly. Before these major state affairs are settled, a few minor matters may likewise offer insights into future investment directions.
1. Global automotive giants are actively positioning themselves in solid-state batteries, with 2027 expected to mark the industry's inaugural year, triggering an explosion in the billion-dollar market.
The 5th China International Solid-State Battery Technology Conference and the 2025 Advanced Battery Materials and Intelligent Equipment Technology Exhibition were held in Hefei, where multiple leading enterprises showcased their latest technological breakthroughs. BMW Group has initiated road testing of the world's first test vehicle equipped with a full solid-state battery—the BMW i7—in Munich, marking the entry of solid-state battery technology into a substantive verification phase. Meanwhile, Chinese automotive giant SAIC Motor announced plans to achieve solid-state battery vehicle integration by 2027, while Changan Automobile aims to complete solid-state battery vehicle verification by 2026.
*Acceleration in Solid-State Battery Industry Chain Layout*
China's solid-state battery industry chain is accelerating its deployment, with expansion plans from January to April this year exceeding 50GWh, and a total investment of approximately RMB 15 billion. Numerous leading enterprises are reporting frequent successes: WINAIXTECH successfully delivered core solid-state battery equipment to top battery manufacturers; GOTION High-Tech officially completed its first full solid-state pilot production line and initiated vehicle-mounted road testing; QingTao received environmental approval for its 15GWh solid-state battery project at its Chengdu base. SUNYUAN successfully won a bid for the CATL (03750)(Sz:300750)--Changan Times Base project, opening a new channel for solid-state battery equipment verification.
*Analysis of Benefiting Industry Segments:*
Battery Equipment Manufacturing: Strong demand for solid-state battery production equipment, with core equipment manufacturers—including coating machines, roller press machines, and electrolyte transfer equipment—set to benefit significantly.
Material Supply Chain: Suppliers of key materials such as solid-state electrolytes and cathode materials are encountering new development opportunities.
Vehicle Manufacturing: Automakers investing in solid-state battery technology will gain a first-mover advantage in the next round of competition.
Battery Manufacturing: Battery companies possessing solid-state battery R&D and production capabilities will gain greater market space.
*Key Companies Overview:*
WINAIXTECH (Sz:300457): Has successfully delivered core solid-state battery equipment, with leading technology.
GOTION High-Tech (Sz:002074): Solid-state battery pilot line completed, capable of vehicle-mounted road testing.
SUNYUAN (Sh:688573): Successfully entered the supply chain of leading enterprises, with abundant technological reserves.
Keheng Shares (Sz:300340): Dual-track layout in solid-state battery equipment and materials, with notable progress.
Xiangtan Electric Chemical (Sz:002125): Strong R&D capabilities in solid-state battery materials.
Haiko New Energy (Sz:301292): Continuous breakthroughs in solid-state battery technology R&D.
Nord Industries (Sh:600110): Comprehensive layout in the solid-state battery industry chain.
CATL: Industry leader with substantial investment in solid-state battery R&D.
Although CATL is on the list, it is no longer the sole dominant player, but rather one among eight competing giants. CATL's recent sharp stock decline—could this already be a harbinger?
*Smartphones Enter K-Shaped Market*
2. Goldman Sachs lowers smartphone shipment forecasts but remains optimistic about foldable phones.
Goldman Sachs has revised downward its global smartphone shipment forecasts, now expecting 1.1 billion units in 2026, and 1.2 billion units in both 2027 and 2028. Despite weakening shipment volumes, driven by rising prices and premium models, the global smartphone market size is projected to reach $624 billion in 2026 and increase to $674 billion by 2028. Goldman Sachs remains bullish on foldable smartphones, forecasting shipments to reach 77 million units by 2028.
If smartphones remain limited to just looking and listening, they will lack new appeal to drive upgrades. Foldable screens offer larger displays, enhancing gaming experiences. It is estimated that the smartphone market will evolve into a K-shaped market, where high-end and low-end models will sell well, while mid-range, featureless models will stagnate.
3. Trump's diesel export ban could backfire.
U.S. President Trump said Tuesday (22nd) that he supports banning U.S. diesel exports to help lower prices. He stated the government will make a decision "soon," "one way or another." However, analysts warn this measure could produce the opposite effect.
Gbenga Ajilore, chief economist at the Washington-based think tank Center on Budget and Policy Priorities, said: "The problem with an export ban is that it doesn't increase domestic supply; it may actually reduce supply, thereby driving prices even higher. The main factor pushing up diesel prices is the war with Iran. Ending the war with Iran and reopening the Strait of Hormuz would lower diesel prices. Any other solution will fail."
Bespoke Investment Group also pointed out that the ban could force Gulf Coast refineries to shut down due to insufficient storage capacity. In other words, an export ban might reduce global diesel supply, thereby hurting refiners' profits.
Ipek Ozkardeskaya, senior analyst at Julius Baer, said the U.S. is currently the world's largest diesel exporter. If the U.S. restricts exports, global diesel prices could surge significantly. Moreover, as U.S. refiners lose part of their export markets, they may cut production, ultimately tightening domestic supply of other fuels in the U.S.
Diesel is the "lifeblood" of the transportation industry. If Trump cuts off this "blood," transportation costs globally—including in the U.S.—will rise, leading to higher global inflation! Senior Investor, Shek King-chuen
(Investing involves risk; each investor's risk tolerance varies. Independent thinking is essential. The author may trade based on market conditions.)
*Articles published in ETNet, signed or unsigned, represent the authors' personal opinions and do not reflect ETNet's stance. ETNet serves as a platform providing free expression.
1. Global automotive giants are actively positioning themselves in solid-state batteries, with 2027 expected to mark the industry's inaugural year, triggering an explosion in the billion-dollar market.
The 5th China International Solid-State Battery Technology Conference and the 2025 Advanced Battery Materials and Intelligent Equipment Technology Exhibition were held in Hefei, where multiple leading enterprises showcased their latest technological breakthroughs. BMW Group has initiated road testing of the world's first test vehicle equipped with a full solid-state battery—the BMW i7—in Munich, marking the entry of solid-state battery technology into a substantive verification phase. Meanwhile, Chinese automotive giant SAIC Motor announced plans to achieve solid-state battery vehicle integration by 2027, while Changan Automobile aims to complete solid-state battery vehicle verification by 2026.
*Acceleration in Solid-State Battery Industry Chain Layout*
China's solid-state battery industry chain is accelerating its deployment, with expansion plans from January to April this year exceeding 50GWh, and a total investment of approximately RMB 15 billion. Numerous leading enterprises are reporting frequent successes: WINAIXTECH successfully delivered core solid-state battery equipment to top battery manufacturers; GOTION High-Tech officially completed its first full solid-state pilot production line and initiated vehicle-mounted road testing; QingTao received environmental approval for its 15GWh solid-state battery project at its Chengdu base. SUNYUAN successfully won a bid for the CATL (03750)(Sz:300750)--Changan Times Base project, opening a new channel for solid-state battery equipment verification.
*Analysis of Benefiting Industry Segments:*
Battery Equipment Manufacturing: Strong demand for solid-state battery production equipment, with core equipment manufacturers—including coating machines, roller press machines, and electrolyte transfer equipment—set to benefit significantly.
Material Supply Chain: Suppliers of key materials such as solid-state electrolytes and cathode materials are encountering new development opportunities.
Vehicle Manufacturing: Automakers investing in solid-state battery technology will gain a first-mover advantage in the next round of competition.
Battery Manufacturing: Battery companies possessing solid-state battery R&D and production capabilities will gain greater market space.
*Key Companies Overview:*
WINAIXTECH (Sz:300457): Has successfully delivered core solid-state battery equipment, with leading technology.
GOTION High-Tech (Sz:002074): Solid-state battery pilot line completed, capable of vehicle-mounted road testing.
SUNYUAN (Sh:688573): Successfully entered the supply chain of leading enterprises, with abundant technological reserves.
Keheng Shares (Sz:300340): Dual-track layout in solid-state battery equipment and materials, with notable progress.
Xiangtan Electric Chemical (Sz:002125): Strong R&D capabilities in solid-state battery materials.
Haiko New Energy (Sz:301292): Continuous breakthroughs in solid-state battery technology R&D.
Nord Industries (Sh:600110): Comprehensive layout in the solid-state battery industry chain.
CATL: Industry leader with substantial investment in solid-state battery R&D.
Although CATL is on the list, it is no longer the sole dominant player, but rather one among eight competing giants. CATL's recent sharp stock decline—could this already be a harbinger?
*Smartphones Enter K-Shaped Market*
2. Goldman Sachs lowers smartphone shipment forecasts but remains optimistic about foldable phones.
Goldman Sachs has revised downward its global smartphone shipment forecasts, now expecting 1.1 billion units in 2026, and 1.2 billion units in both 2027 and 2028. Despite weakening shipment volumes, driven by rising prices and premium models, the global smartphone market size is projected to reach $624 billion in 2026 and increase to $674 billion by 2028. Goldman Sachs remains bullish on foldable smartphones, forecasting shipments to reach 77 million units by 2028.
If smartphones remain limited to just looking and listening, they will lack new appeal to drive upgrades. Foldable screens offer larger displays, enhancing gaming experiences. It is estimated that the smartphone market will evolve into a K-shaped market, where high-end and low-end models will sell well, while mid-range, featureless models will stagnate.
3. Trump's diesel export ban could backfire.
U.S. President Trump said Tuesday (22nd) that he supports banning U.S. diesel exports to help lower prices. He stated the government will make a decision "soon," "one way or another." However, analysts warn this measure could produce the opposite effect.
Gbenga Ajilore, chief economist at the Washington-based think tank Center on Budget and Policy Priorities, said: "The problem with an export ban is that it doesn't increase domestic supply; it may actually reduce supply, thereby driving prices even higher. The main factor pushing up diesel prices is the war with Iran. Ending the war with Iran and reopening the Strait of Hormuz would lower diesel prices. Any other solution will fail."
Bespoke Investment Group also pointed out that the ban could force Gulf Coast refineries to shut down due to insufficient storage capacity. In other words, an export ban might reduce global diesel supply, thereby hurting refiners' profits.
Ipek Ozkardeskaya, senior analyst at Julius Baer, said the U.S. is currently the world's largest diesel exporter. If the U.S. restricts exports, global diesel prices could surge significantly. Moreover, as U.S. refiners lose part of their export markets, they may cut production, ultimately tightening domestic supply of other fuels in the U.S.
Diesel is the "lifeblood" of the transportation industry. If Trump cuts off this "blood," transportation costs globally—including in the U.S.—will rise, leading to higher global inflation! Senior Investor, Shek King-chuen
(Investing involves risk; each investor's risk tolerance varies. Independent thinking is essential. The author may trade based on market conditions.)
*Articles published in ETNet, signed or unsigned, represent the authors' personal opinions and do not reflect ETNet's stance. ETNet serves as a platform providing free expression.
