大禹金融计划通过供股筹集总额最多约1.367亿港元。公司建议以每股0.12港元的认购价，按每持有2股 现有股份获发1股供股股份的比例，向合资格股东发行最多11.39亿股供股股份。筹集所得款项净额估计 约为1.361亿港元，其中约1.161亿港元将用于集团的保证金融资业务，2000万港元将用作集团的一般营 运资金。 ...

REPT BATTERO Energy Co., Ltd. 瑞 浦 蘭 鈞 能 源 股 份 有 限 公 司 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：0666） 董事會會議日期 瑞浦蘭鈞能源股份有限公司（「本公司」）董事會（「董事會」）謹此公佈，董事會 會議將於2025年8月11日（星期一）舉行，藉以（其中包括）考慮及批准本公司及 其附屬公司截至2025年6月30日止六個月之未經審計中期業績及其發佈。 承董事會命 瑞浦蘭鈞能源股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 主席兼執行董事 曹輝博士 香港，2025年7月30日 於本公告日期，本公司董事為執行董事曹輝博士、胡曉東先生、吳艷軍博士、黃潔華女士及 FENG, TING先生；非執行董事王海軍先生、項陽陽女士及衛勇先生；及獨立非執行董事黃 斯穎女士、王振波博士、任勝鋼博士及Simon Chen博士。 ...

Core Viewpoint - Rui Pu Lan Jun (0666.HK) is experiencing significant revenue growth and a reduction in net losses, driven by increased battery shipments and effective cost management strategies [2][3] Financial Performance - For the first half of the year, Rui Pu Lan Jun expects revenue between 9.3 billion to 9.8 billion yuan, representing a year-on-year growth of approximately 22.4% to 29% [2] - The net loss attributable to shareholders is projected to be between 0.5 billion to 1 billion yuan, a reduction of 84.8% to 92.4% compared to the same period last year [2] - In 2024, the company anticipates revenue of 17.796 billion yuan, a year-on-year increase of 29.44%, with a gross profit of 737 million yuan, up 110.52% [3] Business Operations - The increase in revenue is attributed to a rise in the shipment volume of power and energy storage battery products, improved gross margins, and effective cost control measures [2] - Rui Pu Lan Jun has established itself as a significant player in the domestic power battery market, ranking 11th in 2023 and expected to rise to 8th in 2024, with a market share increase of 0.35 percentage points [2] Strategic Initiatives - The company is focusing on expanding into overseas markets and the energy storage sector, with plans to establish its first overseas battery factory in Indonesia and a new subsidiary in California, USA [3] - Strategic partnerships have been formed, including a memorandum with Bakrie & Brothers in Indonesia for the supply of over 3,000 electric bus and truck battery systems, and a collaboration with South Korea's Hyosung Heavy Industries for energy storage systems [3] - Rui Pu Lan Jun has achieved the highest global shipment volume of household energy storage cells in the first half of this year [3]

7月21日晚间，瑞浦兰钧披露半年度业绩预告，上半年预计录得收入93亿-98亿元，较去年同期增长约 22.4%-29%；预计净亏损额在0.5亿-1亿元之间，较去年同期减少84.8%-92.4%。 瑞浦兰钧表示，上半年亏损收窄的主要原因为包括，动力及储能电池产品出货量持续增加，带动收入持 续增长；资源整合与降本增效措施带动毛利显著提升；降本增效战略有效管控报告期的费用。 ...

Core Viewpoint - The energy storage industry is increasingly prioritizing safety, leading to a surge in destructive testing, such as fire tests, to demonstrate product reliability and compliance with safety standards [6][18][26]. Industry Overview - Energy storage systems are essential for balancing intermittent renewable energy generation and demand, with a growing market driven by policy support and declining battery costs [6][8]. - The global energy storage market has seen over 20 fire incidents in the past year, highlighting safety concerns that companies must address [8][19]. Testing and Standards - Major companies, including Envision Energy, have begun conducting large-scale fire tests, with costs exceeding tens of millions, to assess the resilience of their products under extreme conditions [6][9][11]. - There is currently no unified industry standard for large-scale fire testing in China, although companies reference international standards such as CSA TS-800 and UL 9540A [14][16]. - The CSA/ANSI C800:25 standard, released in March, aims to evaluate energy storage systems' durability under extreme conditions, including fire scenarios [15]. Market Dynamics - The trend of conducting fire tests is becoming a consensus among leading companies, as it enhances customer confidence and is increasingly seen as a prerequisite for entering overseas markets [9][18][21]. - The competitive landscape is shifting from price-based competition to value-based competition, as companies recognize the importance of safety and quality in securing contracts [22][26]. Future Implications - The rising costs of fire testing and the need for substantial orders may deter smaller players, potentially leading to a more concentrated and high-quality industry [23][24]. - As safety testing becomes a market entry requirement, companies are expected to focus on research and development to meet higher technical standards [26].

Core Insights - The energy storage lithium battery industry in China is experiencing rapid growth, with installed capacity reaching 78.3 GW in 2024, a year-on-year increase of 149.4% [9][11] - China's lithium battery shipments have surged from 3.5 GWh in 2017 to 335 GWh in 2024, reflecting a year-on-year growth rate of 64% [11] - China has become a global leader in the energy storage sector, accounting for 58.97% of the global new energy storage project installed capacity in 2024 [5][9] Industry Overview - Energy storage lithium batteries are characterized by high energy density, long lifespan, and safety, making them the most mature and widely used storage batteries [2][3] - The lithium battery market is dominated by lithium iron phosphate batteries, which hold over 90% market share [2] Global Market - The global demand for energy storage is rapidly increasing, with new installed capacity reaching 74.1 GW/177.8 GWh in 2024, marking a historical high of 89% in new power storage installations [5][6] - China's new energy storage project installed capacity in 2024 was 43.74 GW/109.8 GWh, showing a year-on-year growth of 103%/136% [5] Domestic Market - The domestic energy storage sector is thriving, with significant growth in both installed capacity and operational scale [9][11] - Despite rapid growth in shipments, over 60% of domestic lithium battery companies reported a year-on-year decline in net profit by 40%-60% due to intense price competition [11] Market Competition - Chinese companies dominate the global energy storage lithium battery market, accounting for over 90% of global shipments in 2024 [13] - Major domestic players like CATL, EVE Energy, and others are expanding their presence in international markets, particularly in North America, Southeast Asia, and the Middle East [13][15] Future Trends - Government policies are supporting the healthy development of the energy storage lithium battery industry, promoting innovation and competitiveness [21] - Technological advancements, such as solid-state batteries and sodium-ion batteries, are expected to drive industry upgrades and commercial applications in the coming years [22][23]

Core Insights - The Chinese automotive industry is leveraging its full-chain technology in the new energy vehicle (NEV) sector to reshape global industrial rules, transitioning from labor-intensive manufacturing to technology and rule output [2][3] - China has maintained its position as the world's largest NEV market for ten consecutive years, with a 68% global market share in NEV sales during the first four months of 2025, selling 4.3 million units [2] - The export of Chinese NEVs reached 850,000 units from January to May 2025, marking a 64.6% year-on-year increase, indicating a significant restructuring of the global automotive industry [2] Market Position - Chinese NEVs dominate several international markets, with market shares of 89% in Indonesia, 85% in Brazil, 66% in Israel, and 54% in Russia, attributed to a robust and mature supply chain [2] - China's lithium battery production capacity exceeds 60% of the global total, while the production capacity of key battery materials surpasses 85% [2] Future Outlook - Developed regions like the EU aim for 50% NEV sales by 2030, but face a 40% shortfall in local battery production capacity; Southeast Asia is projected to reach a 30% penetration rate for electric vehicles by 2025 due to favorable policies [3] - China is positioned to lead in climate governance and assist developing countries in transitioning to green technologies, exemplified by BYD's electric bus solutions in Latin America [3] Strategic Direction - The strategy of Chinese automotive companies has evolved from relying on foreign investment and trade to becoming leaders in technology standards and ecological output, focusing on "technology output + industry output" for global expansion [4] - In markets with high technical barriers, such as North America and Europe, the focus is on technology output, while in regions with existing industrial bases, such as Southeast Asia, the emphasis is on industry input [4] Challenges and Management - Chinese automotive companies face significant challenges in international markets, including carbon tariffs and compliance with local regulations, necessitating the establishment of effective compliance systems [4] - The core management strategy for electric vehicle companies expanding internationally is a "dual-core driving model," balancing core technology control with local resource allocation to address cross-border operational challenges [4]

Core Viewpoint - 瑞浦兰钧 has been included in the MSCI Global Small Cap Index, which is expected to attract significant global investment and enhance its market liquidity and visibility [1][5]. Group 1: Company Performance - In 2024, 瑞浦兰钧 achieved a revenue of 17.796 billion RMB, representing a year-on-year growth of 29.44% [2]. - The company's lithium battery product sales surged by 124.4% to 43.71 GWh in 2024 [2]. - 瑞浦兰钧 has established strategic partnerships with major companies, including 乐亿通 and 柳工, and secured procurement contracts with state-owned enterprises [2]. Group 2: Technological Advancements - 瑞浦兰钧 has developed a diverse product matrix, including the "问顶" series lithium iron phosphate batteries with an energy density of 185-200 Wh/kg [3]. - The company has introduced a high-nickel battery cell designed for low-altitude flying vehicles, achieving an energy density of 310 Wh/kg [4]. - The latest 392 Ah energy storage cell boasts a cycle life of over 12,000 times and an energy efficiency of 95% [4]. Group 3: Strategic Initiatives - 瑞浦兰钧's dual-drive strategy of "Power + Energy Storage" is pivotal for its growth and innovation [3][6]. - The company has invested in a battery manufacturing base in Indonesia to secure nickel resources and reduce costs [4]. - 瑞浦兰钧 aims to enhance its global competitiveness and market presence through ongoing technological innovation and product upgrades [6].

Core Viewpoint - The CIBF2025 Shenzhen Battery Exhibition showcased RuiPu LanJun's innovative battery products, including the commercial vehicle cell "Sui Xing 324Ah Pro" and the new generation of large-capacity energy storage cells, indicating the company's commitment to advancing battery technology and expanding its market presence [1][21]. Group 1: Product Innovations - RuiPu LanJun launched the "Sui Xing 324Ah Pro" commercial vehicle cell, achieving an energy density of 198Wh/kg and a lifecycle of over 10,000 cycles, with a system capable of two years of operation with zero degradation [3][5]. - The "Sui Xing 324Ah Pro" cell maintains cost stability despite a general increase of over 5% in similar products, providing over 6,300kWh usable energy throughout its lifecycle [5][9]. - The new "Stacking Battery Cluster" design offers a capacity of 680kWh, enhancing energy density by 35% and reducing weight by approximately 600kg, thus improving vehicle stability and operational efficiency [11][13]. Group 2: Safety Features - The "Sui Xing 324Ah Pro" cell incorporates multiple safety designs, including a two-stage explosion-proof valve and high insulation design, ensuring safety under extreme conditions [8][9]. - The "Wen Ding 50Ah" ternary lithium battery for eVTOL applications has passed rigorous safety tests, achieving zero explosion, zero fire, and zero leakage [18]. Group 3: Market Position and Future Outlook - RuiPu LanJun is positioned as a leader in the new energy sector, with plans to expand its product offerings to meet diverse market needs, including eVTOL and energy storage solutions [14][22]. - The company aims to accelerate the global green energy transition, with a projected total production capacity of 74GWh by the end of 2024 [23].

Group 1 - Ruipu Lanjun's PHEV series Wending 54Ah battery cells are the first to pass the new national standard certification for power batteries [1] - The new standard is titled "GB38031-2025 Safety Requirements for Power Storage Batteries for Electric Vehicles" [1] - Ruipu Lanjun becomes one of the first companies in the industry to meet the new standards [1]