Core Insights - The global energy storage cell shipment is projected to reach 240.21 GWh in the first half of 2025, marking a year-on-year growth of 106.1% [1] - The North American market is experiencing demand acceleration due to tariff issues, while the Chinese market is seeing preemptive demand due to the cancellation of "strong配" [1] - The top ten global companies in terms of shipment volume are all Chinese firms, with CATL leading the pack, followed by Hicharge Energy and others, collectively holding a market share of 91.2% [1] Market Dynamics - Intense competition has emerged between CATL and Hicharge Energy, leading to legal disputes over issues such as non-compete clauses and trade secrets [2] - The storage cell market is witnessing a trend of increasing differentiation, with the top six companies significantly outperforming those ranked lower [2] - Binding partnerships with leading energy system integrators is a crucial market expansion strategy for storage cell companies [2] Global Expansion - Hicharge Energy is actively pursuing an IPO in Hong Kong, following similar moves by CATL and EVE Energy [3] - Nearly 45% of energy cell shipments in the first half of 2025 were to overseas markets, with CATL, BYD, and Zhongxin Innovation leading in this area [3] - The supply chain is evolving towards a model where Chinese bases primarily supply global markets, supplemented by overseas bases for regional markets [3] Product Trends - The large storage cell segment is primarily driven by CATL and Hicharge Energy, while the small storage segment sees significant market share from Ruipu Lanjun and EVE Energy [4] - The market is experiencing a "capacity race" with the introduction of various large-capacity storage products, and the 500 Ah+ cells are expected to enter mass production in the second half of 2025 [5] - The competitive landscape is influenced by the ongoing development of next-generation large-capacity cells, with a focus on cost reduction and efficiency [5]

中创新航(03931)发布公告，本公司近日收到中国证监会就实施H股全流通发出的日期为2025年8月11日 的备案通知书(备案通知书)。根据备案通知书，本公司已完成向中国证监会就本公司合共149,831,290股 内资股实施H股全流通的备案。备案通知书自2025年8月11日起十二个月内有效。本公司将向联交所上 市委员会申请批准相关H股上市及买卖。 ...

智通财经APP讯，中创新航(03931)发布公告，本公司近日收到中国证监会就实施H股全流通发出的日期 为 2025年8月11日的备案通知书(备案通知书)。根据备案通知书，本公司已完成向中国证监会就本公司 合共149,831,290股内资股实施H股全流通的备案。备案通知书自2025年8月11日起十二个月内有效。本 公司将向联交所上市委员会申请批准相关H股上市及买卖。 ...

Core Viewpoint - The company has received a notice from the China Securities Regulatory Commission (CSRC) regarding the implementation of full circulation of H-shares, effective from August 11, 2025 [1] Group 1 - The company has completed the filing with the CSRC for a total of 149,831,290 domestic shares to implement H-share full circulation [1] - The notice from the CSRC is valid for twelve months starting from August 11, 2025 [1] - The company will apply to the Stock Exchange of Hong Kong for approval of the related H-share listing and trading [1]

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，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 CALB Group Co., Ltd. 中創新航科技集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 中國證監會就本公司實施H股全流通出具備案通知書 本公告乃由中創新航科技集團股份有限公司（「本公司」連同其附屬公司統稱為「本 集團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 13.09(2)(a)條、證券及期貨條例（香港法例第571章）第XIVA部之內幕消息條文 （定義見上市規則）刊發。 茲提述本公司日期為2025年4月14日的公告（「該公告」），內容有關本公司若干內 資股（「內資股」）擬實施H股全流通。除另有定義外，本公告所用詞彙與該公告所 界定者具有相同涵義。 董事會欣然宣佈，本公司近日收到中國證監會就實施H股全流通發出的日期為 2025年8月11日的備案通知書（「備案通知書」）。根據備案通知書，本公司已完成 向中國證監會就本公司合共149,831,290 ...

Core Viewpoint - The China Chemical and Physical Power Industry Association has issued a draft initiative aimed at maintaining fair competition and promoting healthy development in the energy storage industry, addressing issues of irrational low pricing [1] Group 1: Initiative Details - The initiative calls for companies to set reasonable prices based on operational costs and risks, discouraging irrational low pricing behaviors to prevent "bad money driving out good" [1] - It emphasizes the importance of integrity and transparency in bidding processes, prohibiting false commitments, below-cost competition, and breaches of contract [1] - The initiative advocates for core competitiveness based on technological solutions, service capabilities, and the overall lifecycle value of products [1] Group 2: Implementation and Support - A supervisory mechanism will be established to monitor behaviors that undermine fair competition, with potential actions including industry notifications, public warnings, or case analyses, and escalation to regulatory authorities if necessary [1] - A total of 149 companies have signed the initiative, including major players such as BYD, Eve Energy, Huawei Digital Energy, and others, covering the entire industry chain from battery manufacturers to system integrators and energy technology companies [1]

Core Viewpoint - The China Chemical and Physical Power Industry Association has released a draft initiative aimed at maintaining fair competition and promoting healthy development in the energy storage industry, addressing irrational low-price competition [1] Group 1: Initiative Details - The initiative emphasizes that companies should quote prices based on their operational status, cost assessments, and project risks to avoid irrational low-price behaviors, preventing "bad money driving out good" [1] - It encourages member units to adhere to principles of integrity, transparency, professionalism, and prudence in bidding activities, prohibiting false commitments, below-cost chaotic competition, and non-compliance [1] - The initiative advocates for participation in bidding based on technical solutions, service capabilities, and the overall lifecycle value, aiming to create a healthy, fair, and orderly market environment [1] Group 2: Enforcement Measures - The association may report behaviors that undermine fair competition in the industry through industry initiatives, public reminders, and case analyses, and may escalate issues to relevant authorities when necessary [1] Group 3: Participating Companies - A total of 149 companies have signed and participated in the initiative, including notable firms such as BYD, EVE Energy, Huawei Digital Energy, and others in the energy storage sector [1]

Group 1: Company Performance - Zhongchuang Innovation (03931.HK) announced a profit increase of 70% to 90% for the first half of 2025, with net profit expected to reach between 710 million RMB and 790 million RMB, potentially exceeding the 75.4% growth seen in Q1 [1] - In Q1 2025, the total revenue of Zhongchuang Innovation grew approximately 42% to 6.9 billion RMB, with stable sales prices for power batteries despite market price declines [1] - The company achieved a power battery installation volume of 19.5 GWh in China for the first half of 2025, marking a year-on-year increase of 40.7% and a significant market share rise to 7.5% by June [1] Group 2: Industry Trends - China's power battery sales volume reached approximately 485.5 GWh in the first half of 2025, a year-on-year increase of 51.6%, with lithium iron phosphate and ternary battery sales at 354.8 GWh and 129.8 GWh respectively [2] - The demand for power batteries is primarily driven by the growth in new energy vehicle sales, which increased by 33.3% year-on-year to 5.468 million units in 2025 [2] - The penetration rate of new energy vehicles rose to 53.3% in June, with new force brands maintaining a retail share of around 20% [2] Group 3: Energy Storage Business - Zhongchuang Innovation's energy storage business is experiencing stable growth, with significant monthly shipment increases and a target of 45 GWh for annual shipments [3] - The growth of energy storage battery shipments is currently limited by production capacity, but improvements in capacity release and direct supply ratios are expected to sustain high growth rates [3] - The company anticipates further profit margin improvements due to increased shipment volumes and stable pricing, with larger new projects expected to enhance profit levels in 2026-2027 [3]

Core Viewpoint - The article discusses the results of a large-scale centralized procurement project for energy storage battery cells by China Electrical Equipment Group Co., Ltd, highlighting the successful bids and the overall procurement capacity of 7.248 GWh [2][4]. Summary by Sections Procurement Results - The procurement project included six packages with a total of 7.248 GWh of energy storage battery cells. Specific details include: - Package 1 (50Ah): 16 MWh, failed to attract bids - Package 2 (100Ah): 32 MWh, failed to attract bids - Package 3 (314Ah): 2,920 MWh, won by Chuangneng New Energy - Package 4 (314Ah): 2,180 MWh, won by Trina Storage - Package 5 (314Ah): 1,400 MWh, won by Haicheng Storage - Package 6 (314Ah): 700 MWh, won by Guoxuan High-Tech [2][5]. Additional Bidding Information - Four packages did not specify exact scales, with the following suppliers qualifying: - Package 7: failed to attract bids - Package 8: failed to attract bids - Package 9: Ningde Times, Yiwei Lithium Energy, Zhongchuang Innovation, and Lishen Battery qualified - Package 10: 11 suppliers including Chuangneng New Energy, Ningde Times, Haicheng Storage, and others qualified [3][6]. Procurement Scale - The total procurement quantity is 73,656,004 units, with an expected procurement capacity of 7,248 MWh. The procurement is divided into four sections with battery cell specifications of 50Ah, 100Ah, 280Ah, and 314Ah [3].

Group 1: Battery Production - In July 2025, the production of power and other batteries reached 133.8 GWh, with a year-on-year growth of 44.3% and a month-on-month increase of 3.6% [6][4]. - From January to July 2025, the cumulative production of power and other batteries was 831.1 GWh, reflecting a year-on-year growth of 57.5% [6][4]. - The production breakdown by material type in July shows that lithium iron phosphate batteries accounted for 77.8% of the total production, while ternary materials made up 22.1% [8]. Group 2: Battery Sales - In July 2025, the sales of power and other batteries totaled 127.2 GWh, marking a year-on-year increase of 47.8% but a month-on-month decline of 3.2% [15][11]. - Cumulatively, from January to July 2025, the sales of power and other batteries reached 786.2 GWh, with a year-on-year growth of 60.6% [15][11]. - The sales of power batteries alone in July were 91.1 GWh, which is a 45.8% increase year-on-year [16][15]. Group 3: Export Data - In July 2025, the total export volume of power and other batteries was 23.2 GWh, showing a year-on-year growth of 35.4% [23][20]. - From January to July 2025, the cumulative export volume reached 150.5 GWh, reflecting a year-on-year increase of 53.1% [23][20]. - The export of power batteries in July was 14.8 GWh, with a year-on-year growth of 48.4% [27][20]. Group 4: Battery Installation - In July 2025, the installation volume of power batteries was 55.9 GWh, with a year-on-year increase of 34.3% [46][46]. - Cumulatively, from January to July 2025, the total installation volume reached 355.4 GWh, reflecting a year-on-year growth of 45.1% [46][46]. - The installation of lithium iron phosphate batteries accounted for 80.4% of the total installation volume in July [46][46]. Group 5: Market Concentration - In July 2025, the top two battery manufacturers accounted for 62.5% of the market share, while the top five and top ten accounted for 80.3% and 94.3%, respectively [58][60]. - The number of battery manufacturers in the market decreased to 33 in July 2025, down from the previous year [60][60]. - The market concentration for the top ten manufacturers showed a slight decrease of 1.3 percentage points compared to the previous year [58][60].