格隆汇1月15日丨派能科技(688063.SH)在互动平台表示，公司目前产品暂未涉及太空光伏相关领域。 ...

证券代码：688063 证券简称：派能科技 公告编号：2026-001 上海派能能源科技股份有限公司 关于持股 5%以上股东部分股份解除质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示: 截至 2026 年 1 月 13 日，上海派能能源科技股份有限公司（以下简称"公 司"）股东派锂（宁波）创业投资合伙企业（有限合伙）（以下简称"融科创投"） 持有公司股份 18,486,073 股，占公司总股本的 7.53%。 | 持股比例 | 7.53% | | --- | --- | | 剩余被质押股份数量 | 9,048,823 | | 剩余被质押股份数量占其所持股份比例 | 48.95% | | 剩余被质押股份数量占公司总股本比例 | 3.69% | 二、累计质押股份情况 截至 2026 年 1 月 13 日，融科创投累计质押股份情况如下： 上述质押事项如若出现其他重大变动情况，公司将按照有关规定及时履行信 息披露义务。 融科创投本次解除质押股份数量为 9,437,250 股，本次解除质押完成后， 公司股东 ...

21智讯1月14日电，派能科技公告，公司于近日收到股东融科创投的通知，获悉其所持有公司的部分股 份在中国证券登记结算有限责任公司办理了解除质押手续。融科创投本次解除质押股份数量为9,437,250 股，占其所持股份比例的51.05%，占公司总股本的3.85%。本次解除质押后，融科创投累计质押公司股 份9,048,823股，占其持股总数的48.95%，占公司总股本的3.69%。 ...

Core Viewpoint - The report from Guosheng Securities forecasts significant growth in the domestic energy storage industry, with expectations of a 111% year-on-year increase in new installations by 2026, reaching 283.63 GWh, and a conservative estimate of an average annual addition of over 200 GWh in domestic large-scale storage [1][4]. Domestic Large-Scale Storage - The domestic large-scale storage market is expected to benefit from policy incentives and increasing independent storage capacity, with a focus on how price transmission affects company performance [2][3]. - The price of lithium carbonate is projected to rise to 92,600 yuan per ton by December 2025, with a 13.4% month-on-month increase in the average bidding price for lithium battery energy storage EPC in November [2]. Overseas Storage Market - The trend of AI-integrated storage is anticipated to drive significant growth in the U.S. energy storage demand, with expected increments of 10 GWh in 2026, 27 GWh in 2027, and 39 GWh in 2028, accounting for 15%, 38%, and 40% of total U.S. storage demand respectively [5]. - The North American energy storage integration market is highly concentrated, with Tesla, Sungrow, and Powin being the top three market share holders [5]. International Household and Commercial Storage - The Australian household storage market is expected to grow significantly due to increased subsidies, with the government raising support to 7.2 billion AUD, while Hungary has initiated a 280 million USD subsidy plan for household storage [6]. - The demand for commercial storage in Europe, Southeast Asia, and Africa is projected to increase due to high electricity costs, with a long-term potential of 146 GWh in these regions [6]. Investment Targets - Key companies to watch in the large-scale storage sector include Sungrow (300274.SZ), Haibo Technology (688411.SH), Canadian Solar (688472.SH), Tongrun Equipment (002150.SZ), and Shuneng Electric (300827.SZ) [7]. - In the household storage segment, notable companies include Deye Technology (605117.SH), Airo Energy (688717.SH), Jinlang Technology (300763.SZ), Goodwe (688390.SH), Kstar (002518.SZ), and Pylon Technologies (688063.SH) [7].

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook for its stock performance [7]. Core Insights - The company is expected to benefit from domestic large-scale storage, overseas small-scale storage, and the demand for battery swapping in two-wheeled vehicles, leading to accelerated growth in shipment volumes [1]. - The company is positioned as the fourth largest in China's global household storage system shipments in 2024, with a competitive edge in vertical integration across the entire industry chain, global presence, and continuous R&D investment [7]. - The report highlights the significant growth potential in both domestic and international commercial storage products and lightweight power battery businesses, driven by global energy transformation and favorable policies in emerging markets [7]. Financial Data and Profit Forecast - Revenue projections for the company are as follows: - 2023: 3,299 million CNY - 2024: 2,005 million CNY - 2025E: 2,722 million CNY - 2026E: 5,341 million CNY - 2027E: 9,036 million CNY - The expected year-on-year growth rates are: - 2023: -45.1% - 2024: -39.2% - 2025E: 35.8% - 2026E: 96.2% - 2027E: 69.2% [6]. - The projected net profit for the company is: - 2023: 516 million CNY - 2024: 41 million CNY - 2025E: 90 million CNY - 2026E: 334 million CNY - 2027E: 468 million CNY - The report anticipates a significant recovery in profitability, with net profit growth rates expected to be: - 2024: -92.0% - 2025E: 119.3% - 2026E: 270.9% - 2027E: 40.0% [6]. Industry and Company Situation - The company focuses on overseas household storage, domestic and international commercial storage, and lightweight power battery products, with future growth primarily driven by commercial storage and lightweight battery businesses [7]. - The report notes that the household storage industry is expected to recover due to global energy transformation and emerging market policy benefits, while commercial storage will benefit from global grid upgrades [7]. - The company has established a strong presence in approximately nine countries and regions, focusing on Southeast Asia, Africa, and the Middle East, effectively diversifying regional risks [7]. Key Assumptions - Domestic large-scale storage and commercial storage assumptions include shipment volumes of 1.5/2.0/9.0 GWh from 2025 to 2027, with a unit price of 0.4 CNY/Wh and expected gross margins of 9%/10%/10% [7]. - For overseas household storage and commercial storage, the assumptions are 1.5/4.0/5.0 GWh shipments with unit prices of 1.1/0.8/0.73 CNY/Wh and gross margins of 30%/29%/28% [7]. - Lightweight power battery assumptions include shipments of 1.0/3.5/4.8 GWh with a unit price of 0.4 CNY/Wh, with expected gross margins improving due to scale effects [7].

Core Viewpoint - The article highlights the significant achievements and innovations of Pioneering Technology in the lithium battery industry, particularly in commercial energy storage and lightweight power battery sectors, as recognized by the 2025 Golden Ding Award [4][15]. Group 1: Industry Events - The 2025 (10th) Lithium Battery Industry Annual Conference and Golden Ding Award Ceremony took place in Shenzhen, gathering industry elites, technical experts, and leading companies to discuss industry trends and witness technological breakthroughs [2]. Group 2: Company Achievements - Pioneering Technology won two prestigious awards at the 2025 Golden Ding Awards: the "2025 Annual Industrial Energy Storage Battery Technology Innovation Award" and the "2025 Annual Lightweight Power Battery Technology Innovation Award" [4]. - The company has established a comprehensive self-research capability across the entire chain from battery cells, BMS, EMS to PCS and system integration, providing high safety, long-life, and intelligent energy storage system solutions for global customers [6]. Group 3: Project Implementation - In a 5MW/5MWh energy storage backup project implemented in a coal mine in Guizhou, Pioneering Technology utilized an integrated architecture of "energy storage converter + liquid-cooled energy storage container + energy management system" to achieve intelligent switching among three modes: peak shaving, standby backup, and off-grid supply [7]. - This project effectively addresses the safety issues of power outages in coal mines, significantly reduces electricity costs annually, and is eligible for local financial subsidies of up to 2 million yuan, setting a replicable benchmark for "safety + economy" in energy storage [7]. Group 4: Competitive Strategy - Pioneering Technology's lightweight power battery business leverages 16 years of lithium battery technology accumulation and comprehensive self-research capabilities to create a diverse product matrix covering electric two, three, and four-wheel vehicles, shared battery swapping, and automotive start-stop scenarios [8]. - The company has established a collaborative supply system with dual bases in Yangzhou and Hefei, achieving a battery production capacity of 13GWh, with plans to gradually expand to 20GWh [10]. - Due to rapid market demand growth, production lines are currently operating at full capacity, and new production lines are being gradually constructed to ensure market supply [10]. Group 5: Product Differentiation - Pioneering Technology focuses on a dual technology route of lithium iron phosphate and sodium batteries to build differentiated competitive advantages, emphasizing core selling points such as high safety, long life, and wide temperature adaptability [12]. - The company aims to transfer its extensive experience in the energy storage field to lightweight power scenarios, achieving rapid validation and mass delivery of products [12].

Core Viewpoint - The stock of Pylon Technologies has shown a significant increase in price and trading activity, reflecting positive market sentiment and financial performance in the energy storage sector, particularly in lithium iron phosphate batteries [1][2]. Group 1: Stock Performance - As of December 26, Pylon Technologies' stock price rose by 2.12% to 59.63 CNY per share, with a total market capitalization of 14.631 billion CNY [1]. - The stock has increased by 50.54% year-to-date, with a 6.62% rise over the last five trading days and a slight decrease of 0.03% over the past 60 days [1]. - The company has appeared on the trading leaderboard once this year, with a net buy of 1.11 billion CNY on September 30 [1]. Group 2: Financial Performance - For the period from January to September 2025, Pylon Technologies reported a revenue of 2.013 billion CNY, representing a year-on-year growth of 42.52%, and a net profit attributable to shareholders of 47.8515 million CNY, up 28.05% [2]. - Cumulative cash dividends since the company's A-share listing amount to 853 million CNY, with 672 million CNY distributed over the last three years [3]. Group 3: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders increased by 30.29% to 26,500, while the average number of tradable shares per person decreased by 23.25% to 9,272 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 1.4886 million shares, while some funds exited the top ten list [3].

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上海派能能源科技股份有限公司董事会 2025 年 12 月 25 日 1 / 2 证券代码：688063 证券简称：派能科技 公告编号：2025-079 上海派能能源科技股份有限公司 关于变更持续督导保荐代表人的公告 上海派能能源科技股份有限公司（以下简称"公司"）于近日收到中信建投 证券股份有限公司（以下简称"中信建投"）出具的《关于变更上海派能能源科 技股份有限公司持续督导保荐代表人的函》，作为公司首次公开发行股票并在科 创板上市项目（以下简称"首发项目"）的保荐机构，中信建投原委派刘建亮先 生、杨恩亮先生为公司首发项目持续督导保荐代表人。 现原保荐代表人刘建亮先生因工作变动，不再担任公司首发项目持续督导的 保荐代表人。为保证持续督导工作的有序进行，中信建投现指派王秋韵先生（简 历见附件）接替其担任公司首发项目的保荐代表人，继续履行相关职责。本次变 更后，公司首发项目的保荐代表人为杨恩亮先生、王秋韵先生，持续督导期至中 国证券监督管理委员会和上海证券交易所规定的持续督导义 ...

Core Viewpoint - The stock of Pylon Technologies has shown a significant increase in price and trading activity, reflecting strong investor interest and positive financial performance in the energy storage sector. Group 1: Stock Performance - On December 24, Pylon Technologies' stock rose by 2.01%, reaching 58.28 CNY per share, with a trading volume of 1.42 billion CNY and a turnover rate of 1.00%, resulting in a total market capitalization of 14.3 billion CNY [1] - Year-to-date, the stock price has increased by 47.13%, with a 3.30% rise over the last five trading days, 1.15% over the last 20 days, and 0.69% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on September 30, where it recorded a net purchase of 1.11 billion CNY [1] Group 2: Financial Performance - For the period from January to September 2025, Pylon Technologies achieved a revenue of 2.013 billion CNY, representing a year-on-year growth of 42.52%, and a net profit attributable to shareholders of 47.85 million CNY, up by 28.05% [2] - The company's main business revenue composition includes 87.67% from energy storage battery systems, 11.63% from other sources, and 0.70% from supplementary activities [1] Group 3: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders for Pylon Technologies increased by 30.29% to 26,500, with an average of 9,272 circulating shares per person, a decrease of 23.25% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 5.1991 million shares, an increase of 1.4886 million shares from the previous period [3] - Notably, the Southern CSI 1000 ETF and other funds have exited the top ten circulating shareholders list [3]

Core Insights - Shanghai Pylon Energy Technology Co., Ltd. (referred to as "Pylon Technology") is a leading provider of energy storage systems, focusing on the research, production, and sales of lithium iron phosphate battery cells, modules, battery management systems, and energy storage system integration [1][2] - The company is expanding its overseas business from a single market in Europe for home energy storage to a global strategy that includes both commercial and residential energy storage across multiple regions [1] - Pylon Technology's first overseas factory in Italy is set to commence operations in March 2025, which is expected to enhance the company's competitiveness in Europe and globally [1] R&D and Financials - As of the end of Q3 2025, Pylon Technology has invested 250 million yuan in R&D, accounting for 12.43% of its operating revenue, indicating a strong commitment to technological advancement [1] - The company aims to reduce reliance on a single overseas market by diversifying its domestic business and exploring new directions in lightweight power, thereby mitigating geopolitical and market volatility risks [1] Future Strategy - Pylon Technology's future development strategy is centered around a "full-scenario layout" and a "technological moat," focusing on opportunities in the domestic independent energy storage market and renewable energy applications [2] - The company plans to deepen its involvement in the lightweight power sector, particularly in the battery swap ecosystem for two-wheeled and three-wheeled vehicles, while also cultivating new growth areas through B-end customer development [2] - Additionally, Pylon Technology will explore collaborations with photovoltaic, grid, and vehicle manufacturers to promote the large-scale application of sodium batteries in energy storage and lightweight power scenarios [2]