股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 瑞浦蘭鈞能源股份有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00666 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 874,422,124 | RMB | | 1 | RMB | | 874,422,124 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 874,422,124 | RMB | | 1 | RMB | | 874,422,124 | | 2. 股份分類 | ...

Core Viewpoint - The stock of Ruipu Lanjun (00666) has seen a significant increase of over 9%, attributed to recent announcements regarding renewable energy subsidies and strong performance in the energy storage battery sector [1] Company Performance - Ruipu Lanjun reported a revenue of 9.491 billion RMB for the first half of the year, representing a year-on-year growth of 24.9% [1] - The company's gross profit reached 829 million RMB, showing a substantial increase of 177.8% compared to the previous year, indicating a significant improvement in profitability [1] - Total sales volume of lithium battery products reached 32.4 GWh, marking a year-on-year increase of 100.2% [1] - Specifically, energy storage battery shipments amounted to 18.87 GWh, up 119.3% year-on-year, while power battery shipments were 13.53 GWh, reflecting a growth of 78.5% [1] Industry Trends - Multiple renewable energy operators have recently received renewable energy subsidy funds, indicating an acceleration in subsidy disbursement [1] - The market-driven approach is encouraging wind and solar operators to voluntarily invest in high-quality energy storage solutions, with demand for large-scale storage increasing despite the cancellation of mandatory configurations [1] - Leading energy storage battery companies are nearing full production capacity, with some beginning to raise prices, suggesting a positive shift in market dynamics [1]

消息面上，据太阳能、金开新能公告，近期多家新能源发电运营商集中收到可再生能源补贴资金。据机 构了解、8月底运营商密集收到一批补贴发放通知、可再生能源发电补贴下发明确加速。据悉，市场化 交易驱动风光运营商积极自愿配置高品质储能，136号文"取消强配"后大储需求不降反增且格局有望改 善，近期头部储能电池企业已接近满产、部分开始提价。 值得注意的是，瑞浦兰钧此前发布中期业绩，上半年瑞浦兰钧实现收入94.91亿元人民币，同比增长 24.9%；毛利达8.29亿元，同比大增177.8%，盈利改善趋势显著。产品销售表现方面，上半年，公司锂 电池产品总销量达32.4GWh，同比大增100.2%。其中，储能电池出货18.87GWh，同比大增119.3%；动 力电池出货13.53GWh，同比增长78.5%。 智通财经APP获悉，瑞浦兰钧(00666)早盘涨超9%，截至发稿，涨9.08%，报12.98港元，成交额6237.86 万港元。 ...

Market Overview - The market initially showed excitement during the military parade but closed down by 0.60% [1] - The parade showcased significant military assets, including various types of missiles and advanced weaponry, enhancing national security and deterrence capabilities [1] - Despite the positive sentiment from the parade, the stock market struggled, with military-related stocks like China Shipbuilding Defense (00317) dropping nearly 9% [2] Gold and Pharmaceuticals - The World Gold Council is seeking to introduce a digital form of gold, potentially transforming the $900 billion physical gold market [3] - Gold prices reached historical highs, with spot gold rising 1.64% to $3532.405 per ounce and COMEX gold futures up 1.51% to $3599.5 per ounce [3] - Pharmaceutical stocks also saw gains, with companies like Heng Rui Pharmaceutical (01276) and SiHuan Pharmaceutical (00460) rising over 8% [3] Robotics Sector - Yushutech announced plans to submit an IPO application by late 2025, with significant revenue growth reported by MicroPort Robotics (02252) [4] - MicroPort's revenue for the first half of the year reached 1.76 billion RMB, a 77% increase year-on-year, driven by overseas market expansion [4] - The robotics sector is seeing increased investment, with Shou Cheng Holdings (00697) investing further in humanoid robotics [5] Solid-State Battery Market - China's solid-state battery shipments are projected to reach 7 GWh in 2024, with expectations of 18 GWh by 2027 and 30 GWh by 2028 [6] - The market is seeing advancements in semi-solid state batteries, which are now entering mainstream pricing [6] Solar Glass and Power Generation - Xinyi Solar (00968) reported a 17.5% increase in solar glass sales volume, despite a 6.5% decline in revenue for the first half of 2025 [7] - The company's solar power generation business achieved revenue of 1.438 billion RMB, a slight increase of 0.7% year-on-year, with a gross margin of 63.5% [8] - The solar glass sector is adjusting to supply-demand imbalances, leading to a new round of production cuts [8]

Core Viewpoint - 瑞浦兰钧 has signed a strategic cooperation agreement with Japan's 阪和兴业株式会社 and another Japanese partner to enter the Japanese energy storage market, planning to deliver over 1 GWh of energy storage systems in the next two years [1] Financial Performance - In the first half of the year, 瑞浦兰钧 achieved revenue of 9.491 billion RMB, representing a year-on-year increase of 24.9% [1] - The gross profit reached 829 million RMB, a significant year-on-year increase of 177.8%, indicating a notable improvement in profitability [1] Product Sales - The total sales volume of lithium battery products in the first half reached 32.4 GWh, marking a year-on-year increase of 100.2% [1] - Energy storage battery shipments amounted to 18.87 GWh, reflecting a year-on-year increase of 119.3% [1] - Power battery shipments were 13.53 GWh, showing a year-on-year growth of 78.5% [1]

Core Viewpoint - Rui Pu Lan Jun (00666) has signed a strategic cooperation agreement with Japan's Sanko Seiyaku Co., Ltd. and another Japanese partner to enter the Japanese energy storage market, aiming to deliver over 1 GWh of energy storage systems in the next two years [1] Financial Performance - In the first half of the year, Rui Pu Lan Jun achieved revenue of 9.491 billion RMB, representing a year-on-year increase of 24.9% [1] - The gross profit reached 829 million RMB, a significant year-on-year increase of 177.8%, indicating a notable improvement in profitability [1] Product Sales - The total sales volume of lithium battery products in the first half of the year reached 32.4 GWh, marking a year-on-year increase of 100.2% [1] - Energy storage battery shipments amounted to 18.87 GWh, reflecting a year-on-year increase of 119.3% [1] - Power battery shipments were 13.53 GWh, showing a year-on-year growth of 78.5% [1]

瑞 浦 蘭 鈞能源 股 份 有 限 公 司 REP T B ATTE RO Energy Co., L t d . （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 股 份 代 號 ： 066 6 2 0 2 5 中 期 報 告 瑞 浦 限 公 司 REP T B ATTE 蘭 鈞能源 股 份 有 RO Energy Co., L t d . (A j o i nt s t o c k c o mpa ny in c o r p o rat e d in t h e P e opl e ' s R e p u b l i c of C hin a w i th limi t ed l i abi l i t y ) S t o c k C o d e: 066 6 2 0 2 5 Interim R e p o r t 瑞浦蘭鈞能源股份有限公司 REPT BATTERO Energy Co., Ltd. 2025 中期報告 Interim Report 目錄 | 公司資料 | 2 | | --- | --- | | 財務概要 | 4 | | 管理層討論及分析 | 5 | | ...

01 进入8月，新能源企业开始密集公布半年报。在一众惨淡中，预见能源注意到了一家值得研究的"黑马逆 袭"案例。 近日，在连续亏损六年后，瑞浦兰钧拿出了一份颇有"亮点"的半年报。 据半年报显示，瑞浦兰钧不仅实现了24.9%的营收增长，毛利率也实现了从同期的2.6%到8.5%的提升。 期内亏损大幅收窄至0.65亿元，同比收窄 90.4%。 这似乎意味着这家曾经的"亏损王"，距离全面盈利仅有一步之遥。 事实上，瑞浦兰钧是一家曾被外界称为"亏损王"的锂电池生产商，其成立于2017年，2019年4月开始批 量交付锂离子电池，之后的2023年12月在港交所上市， 与长期耕耘锂电和储能行业的巨头相比，成立时间尚不足8年的瑞浦兰钧，妥妥的行业后来者。 不过，这家行业新锐玩家却家世显赫，母公司是全球最大镍和不锈钢生产商——青山控股集团。 对于一般人而言，这家企业多少有些陌生，但提起2022年初在伦敦金属交易所（LME）上演的，震惊 世界的史诗级"伦镍逼空大战"，许多财经界人士还记忆犹新。 而那次差点酿成全球大宗商品市场崩盘"大戏"的主角，正是青山集团。 据披露，青山集团目前是全球最大的镍和不锈钢生产商，早在2009年就投资了印 ...

Group 1 - The commercial vehicle battery market is emerging as a new growth area for battery manufacturers, with significant increases in battery installation rates, particularly in the battery-swapping heavy truck market, where the penetration rate has reached around 20% [1] - In the first half of the year, the company reported a more than 90% reduction in losses, attributed to a substantial increase in battery shipments, with 50% of shipments concentrated in the energy storage sector and rapid growth in commercial vehicle battery products [1] - The overall power battery installation volume for the company reached 6.59 GWh, with a market share of 7.5% in the new energy heavy truck battery sector and an 809% year-on-year growth in the battery-swapping heavy truck market, ranking second nationally in both segments [1] Group 2 - The penetration rate of charging heavy trucks has increased from less than 1% to 20%-30% monthly, with the ratio of charging to battery-swapping trucks shifting from 80%-90% battery-swapping to 70% charging and 30% battery-swapping [2] - The company highlighted that although the purchase cost of new energy heavy trucks is 200,000 yuan higher than traditional fuel trucks, the operational cost difference is significant, with fuel costs reaching over 100,000 yuan annually compared to only a few thousand yuan for electricity [2] - The current mainstream battery capacity for new energy commercial vehicles is between 400-600 kWh, balancing cargo weight and battery weight, with long-distance logistics favoring battery-swapping due to time constraints [2] Group 3 - The gross margin of the power battery sector remains a focus for capital markets, with the company indicating potential for improvement in gross margins due to its product structure, where battery cells account for over 80% of the product mix [3] - The company plans to increase pack shipments, optimize customer structure, and enhance internal cost control to improve gross margins, as the cost structure of battery cells is relatively simpler compared to packs [3] - The company is focusing on high-quality projects in response to competitive pressures in the passenger vehicle battery market, having secured over 10 new model project designations from major automakers, with plans for mass production in the coming months [3]

Core Viewpoint - The performance of the energy storage business among six companies, including RuiPu LanJun, KeLiYuan, and others, shows mixed results, but overall resilience in performance is noted despite some companies facing pressure [2]. Group 1: Company Performance - RuiPu LanJun reduced losses by 90%, with energy storage battery shipments doubling year-on-year to 18.87 GWh, generating revenue of 5.08 billion yuan from energy storage batteries, a 58.4% increase [10]. - KeLiYuan achieved a total revenue of 18.21 billion yuan, a 23.21% increase, with energy storage revenue of 1.15 billion yuan, up 4% [6]. - KeLu Electronics turned a profit with a net profit increase of 579.14%, achieving revenue of 25.73 billion yuan, a 34.66% increase, and energy storage revenue of 12.82 billion yuan, up 177.15% [7]. - NanDu Power's revenue from communication and data center storage reached 1.89 billion yuan, a 34.09% increase, while overall revenue fell by 31.67% [9]. - HeWang Electric reported a total revenue of 1.88 billion yuan, a 36.39% increase, with a net profit increase of 56.79% [11]. - ShengHong's revenue was 1.36 billion yuan, down 4.79%, with a net profit of 158 million yuan, down 12.91% [4]. Group 2: Market Trends and Innovations - ShengHong recognized the growth potential in commercial energy storage, citing a continuous increase in electricity consumption in China's secondary and tertiary industries [4]. - KeLiYuan is actively expanding its energy storage project investments, with over 10 GWh of projects in reserve [6]. - KeLu Electronics is focusing on strategic clients in the domestic market and expanding into overseas markets, including the Americas and Europe [8]. - NanDu Power is innovating with new products, including large-capacity lithium iron phosphate storage cells and liquid cooling storage systems [9]. - HeWang Electric offers a range of energy storage solutions, including centralized storage inverters and customized energy storage systems [11].