When the CCTV program "Dialogue" exposed the energy density of laboratory grade solid-state batteries at 824Wh/kg, the entire new energy industry ushered in a "thunderbolt" of technological iteration. This breakthrough in performance far exceeds the current mainstream liquid batteries, not only making the 1300km+range of new energy vehicles a reality, but also marking China's global leading position in the solid-state battery race. The core player behind it, Weilan New Energy, is sprinting towards the A-share Growth Enterprise Market with a valuation of 18.5 billion yuan, and is expected to become the "first solid-state battery stock" in the A-share market, injecting capital acceleration into this energy revolution.

Triple breakthrough rewrites the rules of the battery industry

The core innovation of solid-state batteries lies in replacing traditional liquid electrolytes with solid electrolytes, which has achieved a comprehensive leap in performance, safety, and lifespan. Yu Huigen, Chairman of Weilan New Energy, revealed in a CCTV interview that the energy density of 824Wh/kg is nearly three times higher than that of mainstream liquid batteries (200-300Wh/kg), and is expected to exceed 1000Wh/kg in the long run. For consumers, this means that the range of new energy vehicles will completely bid farewell to "anxiety" - the NIO ET7 equipped with the Weilan 360Wh/kg semi-solid state battery has exceeded 1000 kilometers in actual testing, and can still maintain 85% capacity in low temperature environments of -5 ℃. After the implementation of all solid state technology, a range of 1500 kilometers will become the norm.

In terms of safety, solid-state batteries have achieved a "qualitative leap": after rigorous testing such as 200 ℃ high-temperature baking and sharp needle punching, they can all achieve "zero fire and zero explosion", fundamentally solving the industry pain point of thermal runaway of liquid batteries. At the same time, its cycle life can reach up to 12000 times, which is more than 50% longer than liquid batteries, and its service life is significantly extended, making it more economical for both in vehicle and energy storage scenarios. In terms of cost, with the production capacity exceeding 10 GWh, the cost of all solid state batteries is expected to decrease by more than 20% compared to liquid batteries during the same period. Large scale production will completely overcome the last obstacle to commercialization.

China leads the world in speed

Unlike technological exploration that remains at the conceptual stage, China's solid-state battery industry has entered a "mass production sprint period". Weilan New Energy, as an industrialization platform with over 40 years of technological accumulation at the Institute of Physics of the Chinese Academy of Sciences, has successfully crossed the death valley of "laboratory to mass production": by the end of 2023, it will achieve mass production and delivery of 360Wh/kg semi-solid battery cells, with over 20000 vehicles installed by 2025. In addition to NIO, it has obtained designated cooperation from multiple vehicle manufacturers such as Geely and Lantu. In the field of energy storage, Weilan and Haibosichuang have jointly built a 3.6GWh semi-solid state energy storage battery production line, which is expected to double in output by 2025 and occupy over 90% of the domestic solid-state energy storage battery market. Energy storage projects on the Zhejiang power grid side have been put into mass use.

The industrialization of all solid state batteries has also set a clear timetable: Weilan plans to achieve small-scale demonstration and installation of 400Wh/kg products by 2027, and promote large-scale production by 2030; Guangzhou Automobile Group, SAIC Motor, CATL and other companies have followed suit and set targets for small-scale production of all solid state batteries by 2027. At present, domestic enterprises have achieved multiple breakthroughs in core technologies: GAC's independently developed solid-state electrolyte has an ion conductivity of 10mS/cm, comparable to liquid electrolytes; Enjie Technology's 5 μ m ultra-thin separator technology and high-energy dry manufacturing process for ultra-thin electrolyte membrane have gradually overcome the process bottleneck of all solid state batteries.

48 giants bet on 18.5 billion valuation

Technological breakthroughs and mass production progress have spurred a frenzy of capital. In December 2025, Weilan New Energy officially submitted its IPO guidance filing for the ChiNext board, targeting the A-share market as the "first stock of solid-state batteries". This 8-year-old enterprise has completed 9 rounds of financing and gathered 48 shareholders including Huawei Hubble, Xiaomi Changjiang Industrial Fund, NIO Capital, etc. Among them, NIO Capital holds 14.98% of the shares and becomes the largest shareholder, deeply binding industrial chain resources. As of June 2025, Weilan's valuation has soared to 18.5 billion yuan. Although there is a significant premium compared to the P/S valuation of traditional lithium battery companies, which is 8-10 times higher, the market is betting on its。

 core expectation of mass production of all solid state batteries in 2027.

The funds raised from this IPO will mainly be used for production line expansion to support the planned production capacity target of over 100 GWh. For Weilan, going public is not only a broadening of financing channels, but also an enhancement of the industry chain's discourse power - relying on upstream enterprises such as Tianqi Lithium in the shareholder camp, it can achieve vertical integration and synergy of "lithium ore lithium salt solid electrolyte battery cell", effectively controlling costs; Deep cooperation with downstream companies such as NIO will accelerate technological iteration and scenario verification, forming a closed-loop industrial ecosystem.

From the technological breakthrough of 824Wh/kg to mass production landing, from the support of 48 capital companies to the sprint for A-shares, solid-state batteries are reconstructing the energy industry map with a "disruptor" attitude. This technological revolution led by Chinese enterprises will not only completely change the travel experience of new energy vehicles, but also promote explosive growth in areas such as low altitude economy, intelligent robots, and new energy storage, injecting lasting momentum into China's energy transformation and industrial upgrading.Editor/Bian Wenjun