Link below PG
example
When the two rotate to coincide, there will be a depth problem,
What settings can solve this problem
I don’t know if it’s an option as it changes the rendering, but you can use ALPHA_ADD instead of ALPHA_COMBINE (which is the default) for the blend operation:
This effect looks strange!And it didn’t solve my problem 
@brightMoon transparency management is weirdly hard. You can see why that is here : Transparent Rendering | Babylon.js Documentation
the sprites would need to be rendered sorted from the camera position which is quite impossible without reordering the internal buffers every frames.
In your case, this probably be simpler to use planes instead of sprites allowing some of the workaround techniques from the doc I shared.
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In this case, can billboardmode be used? What is the difference between billboardmode and sprite’s transparent management？
The main difference would be about animation of a spritesheet 
so not a big deal in your case.
OK, I see
I tried the billboard mode of plane, which will have reflective effect on standard material. How to show the effect of pictures without other material characteristics like Sprite.
PG is as follows：
https://playground.babylonjs.com/#TMHF80#1258
You can use unlit mode : https://playground.babylonjs.com/#TMHF80#1260
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Very good. That’s exactly what I want. Thank you 
The solution is not given in this document, nor is it found in spritemanage
What are the properties to set? No alphaindex, renderid, etc
https://playground.babylonjs.com/#YCY2IL#854
How to solve the transparency problem of a large number of sprites
The sprites will be rendered in ordered they are defined in the sprite manager you could try to sort them every frame by distance to the camera so that they render in order.