Analysis of Zhongyi Technology (301150) Continuous Limit-Ups - Driven by Performance Growth and Solid-State Battery Concept

Zhongyi Technology (301150) has recently experienced continuous stock price limit-ups (limit-up on November 14 and 17, with the stock price rising from 52.28 yuan to 62.74 yuan [0]), mainly driven by three factors:

1. High-speed Performance Growth
   : In the first three quarters of 2025, revenue reached 4.199 billion yuan (+19.55%), and net profit attributable to parent company was 387 million yuan (+156.51%) [0], showing a significant improvement in profitability.
2. Capacity Release and Technological Advantages
   : A total electrolytic copper foil production capacity of 55,500 tons/year has been built, with sales exceeding 30,000 tons in 2025 [0]; ultra-thin lithium battery copper foils such as 6μm and 5μm, as well as HVLP and RTF copper foils, are shipped in batches, benefiting from the development of the solid-state battery industry [0].
3. Capital Pursuit
   : On November 17, the main funds had a net purchase of 46.3725 million yuan [2], and the financing balance increased by 67.99% month-on-month [4], indicating high market sentiment.

• Multi-factor Resonance
  : Performance growth (fundamentals) + solid-state battery concept (theme) + capital inflow (liquidity) form a triple driving force, pushing the stock price to rise rapidly.
• Core Competitiveness
  : High-end copper foil technological advantages (ultra-thin copper foil, copper foil for solid-state batteries) are the cornerstone of long-term development, and binding top customers such as CATL and BYD provides stable orders [0].
• Alignment with Industry Trends
  : The solid-state battery industry is expected to reach a market size of 107.94 billion yuan by 2030 [0], and the company has laid out related products in advance to seize future market share.

• Opportunities
  :
  • Long-term demand space brought by the growth of the solid-state battery industry [0];
  • Continuous capacity release will further improve performance [0];
  • Against the background of the “supply rush” in the lithium battery industry chain, the supply and demand of high-end copper foil are tight [6].
• Risks
  :
  • Concept speculation may lead to short-term stock price fluctuations, and callback risks need to be vigilant;
  • Copper price fluctuations affect raw material costs, putting pressure on profits;
  • Intensified industry competition requires continuous follow-up on the speed of technological iteration [0].

Zhongyi Technology’s recent strong performance is jointly driven by fundamental improvement, thematic concept catalysis, and capital inflow. In the long run, the company’s technological advantages and top customer resources provide support for development, and the growth of the solid-state battery industry brings broad space; in the short term, attention should be paid to fluctuations caused by concept retreat and changes in market sentiment. Investors should rationally view stock price fluctuations based on their own risk tolerance.