Enjie Co., Ltd. (SZ002812) In-Depth Analysis Report on Lithium Battery Separator Technology Advantages

Based on the collected information, I have prepared an in-depth analysis report on the separator technology advantages of Enjie Co., Ltd. (SZ002812).

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Enjie Co., Ltd. (Yunnan Enjie New Materials Co., Ltd., 002812.SZ) is the absolute leader in the global lithium battery separator industry[0]. According to the first half of 2025 annual report, the operating revenue of the company’s lithium battery separator products accounts for 83.64% of total revenue, solidifying its strategic core position[1]. The company has ranked first in the wet-process lithium battery separator market for seven consecutive years, and once again topped the “Annual Competitive Brand List for Separators in China’s Lithium Battery Industry” in 2025[2].

As of the end of 2024, Enjie Co., Ltd.'s separator production capacity was approximately 11.7 billion square meters, with a plan to exceed 15 billion square meters of global lithium battery separator capacity by 2025[2]. The company has established a global layout with 11 domestic bases and 2 overseas bases (Hungary, the United States), with overseas revenue accounting for more than 20%, demonstrating strong risk resistance in the global market[2].

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Enjie Co., Ltd. has established a comprehensive intellectual property protection system, providing solid support for customer supply[1]:

Patent Category	Quantity	Description
Valid Authorized Patents	505	As of June 30, 2025
International Patents	40	Global patent layout
Patents Under Application	304	Continuous innovation
International Patent Applications	98	Internationalization strategy

The company has completed patent layouts in Japan, South Korea, the United States, Europe and other regions, forming a comprehensive technology protection system[1]. This large-scale patent layout not only protects the company’s core technologies, but also constructs high barriers to industry entry.

Enjie Co., Ltd. has a high-quality R&D team[1]:

• R&D personnel with master’s degree or above
  : Over 150 people
• International R&D team
  : Includes professional R&D personnel from the United States, Japan, South Korea and other regions
• Core technology R&D team
  : Covers fields such as separator and coating production equipment, separator preparation processes, raw material improvement, coating processes, slurry formulations, recycling and energy-saving technologies

With nearly 30 years of talent accumulation in the BOPP film industry, which is closely related to the lithium-ion battery separator industry, the company has established a sound talent incentive mechanism and recruits talents globally[1].

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Enjie Co., Ltd. continues to carry out technological innovation in the separator field, and has launched a number of leading-performance products[1]:

: Adopts molecular chain modification technology

Performance Index	Traditional Separator	Series X	Improvement Range
Membrane Breaking Temperature	150℃	230℃	+53%
Membrane Breaking Area	Benchmark	Reduced by 60%	-60%

Series X provides stronger protection for the safety of lithium batteries, effectively reducing the risk of thermal runaway.

: Adopts interface wetting entropy regulation technology

• Improves the
  wettability value
  of the separator
• Enhances
  ionic conductivity
• Significantly improves battery charging speed
• Meets the growing
  fast charging demand
  of batteries

:

• Ultra-thin design
  : Only 5μm in thickness
• High strength
  : Excellent mechanical properties
• Leading performance
  : Reduces the volume proportion of non-active materials inside the battery, improving battery energy storage capacity

Enjie Co., Ltd. has made forward-looking layouts in the semi-solid and solid-state battery fields[1][2]:

Subsidiary	Business Direction	Progress Status
Jiangsu Sanhe	Semi-solid battery separators	Has mass production and supply capacity , actively expanding the market
Hunan Enjie	Solid-state battery materials	Focuses on lithium sulfide, sulfide solid electrolytes and electrolyte membrane products

The lithium sulfide, sulfide solid electrolytes and electrolyte membrane products developed by Hunan Enjie are in a leading position in the industry in terms of core indicators such as

[1].

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Enjie Co., Ltd. has formed a lithium battery separator product matrix with

, making it the supplier with the richest variety of lithium-ion battery separator products on the market[1][2]:

Product Category	Main Applications	Technical Features
Wet-Process Separators	Ternary batteries, power batteries	Thin and light, high strength, high energy density
Dry-Process Separators	Energy storage, LFP batteries, two-wheelers	High melting point, excellent pressure resistance, low cost
Coated Separators	High-end power batteries	Customizable, optimized performance
Semi-Solid Separators	Next-generation batteries	Mass production achieved
Solid-State Electrolytes	Future battery technologies	Leading conductivity

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Enjie Co., Ltd. mainly adopts the wet-process separator technology, which has the following advantages[3]:

Performance	Wet-Process Technology	Dry-Process Technology
Thickness Range	5-30μm	12-30μm
Pore Size Distribution	Narrow and uniform	15-40μm
Porosity	30%-50%	Relatively high
Applicable Scenarios	Demands for thinness, large capacity, high energy density	Energy storage, LFP batteries

The wet-process technology has high overall process difficulty and precision, which can achieve higher porosity and better air permeability, making it easier to meet the downstream lithium battery demands for thinness, large capacity and high energy density[3].

The company continues to increase the proportion of on-line coating production capacity, and the self-developed equipment project is progressing smoothly. High production yield reduces losses, which is expected to significantly reduce production costs while increasing barriers to production equipment and processes[3].

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Enjie Co., Ltd. has successfully passed product certification from most mainstream domestic and foreign lithium battery manufacturers, and has entered the most stringent overseas power battery supply chain system[1]:

• CATL, BYD, CALB, Gotion High-Tech
• EVE Energy, Farasis Energy, Lishen Battery

• Panasonic, LGES (LG Energy Solution)
• ACC (France), Ultium Cells
• Overseas large automakers

In the first half of 2025, the company not only renewed a three-year supply agreement with its long-term overseas key customer LGES, but also signed a supply agreement from 2026 to 2030 with a well-known global U.S. automaker, with an expected procurement of approximately 973 million square meters of lithium battery separators[1].

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Time	Customer	Agreement Period	Procurement Volume
Early 2025	Beijing Weilan New Energy	2025-2030	No less than 300 million square meters (semi-solid/all-solid) + 100 tons of electrolytes
Early 2025	LG Energy Solution	2025-2027	Approximately 3.55 billion square meters
2025	A well-known U.S. automaker	2026-2030	Approximately 973 million square meters

These orders fully reflect the high recognition of the company’s product quality and technical strength by overseas key customers, and also provide a strong guarantee for the future utilization rate of new overseas production capacity[1].

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Based on the above analysis, the technical advantages of Enjie Co., Ltd. can be summarized in the following six dimensions:

Competitiveness Dimension	Score	Evaluation
R&D Capability	92/100	High-intensity investment, over 150 master’s and doctoral talents
Patent Layout	88/100	505 valid patents, 40 international patents with global layout
Product Matrix	95/100	130+ segmented categories, the most diversified supplier
Production Capacity Scale	96/100	Expected to exceed 15 billion square meters in 2025, world’s largest
Customer Resources	94/100	Covers all key domestic and overseas battery manufacturers and automakers
Overseas Layout	90/100	Bases in Hungary and the United States, overseas revenue accounts for over 20%

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As the global leader in lithium battery separators, Enjie Co., Ltd. has the following core technical advantages:

1. Patent Barriers
   : A technological moat built by 505 valid authorized patents
2. Product Innovation
   : Innovative products such as Series X high-safety base film, Series I high-wettability base film, and 2nd generation 5μm high-strength base film
3. Forward-Looking Layout
   : Mass production of semi-solid battery separators, leading technology in solid-state battery materials
4. Customer Recognition
   : Access to the world’s most stringent overseas power battery supply chains
5. Scale Effect
   : Cost advantages brought by the world’s largest production capacity scale

As the new energy vehicle and energy storage industries continue to develop, the market demand for lithium battery separators will continue to grow, and enterprises with large-scale high-quality production capacity and stable supply capabilities are more likely to be favored by downstream large customers. Enjie Co., Ltd. is expected to further consolidate its global leading position through technological iteration and global layout.

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[0] Jinling API - Company Profile Data of Enjie Co., Ltd.

[1] Yunnan Enjie New Materials Co., Ltd. 2025 First Half Annual Report (http://qxb-pdf-osscache.qixin.com/AnBaseinfo/b9823c26539900ff1f0670481cab13ad.PDF)

[2] 2025 Annual Competitive Brand List for Separators in China’s Lithium Battery Industry (https://www.itdcw.com/news/top/10131512J2025.html)

[3] Zheshang Securities - Research Report on Global Layout of Lithium Battery Separator Leader (https://pdf.dfcfw.com/pdf/H3_AP202305111586497043_1.pdf)

[4] Battery China Network - Lithium Battery Separator Orders “Pick Up” (http://www.cbea.com/djgc/202504/149990.html)