2025年4月26日，在清华大学建校114周年之际，张剑辉校友向清华大学捐赠仪式在清华大学丙所会议室举行，该捐赠将用于支持清华大学国际会议中心的建 设与维护。清华大学1995级校友、北京海博思创科技股份有限公司创始人、董事长、首席执行官张剑辉，清华大学党委书记、教育基金会理事长邱勇等出席 仪式。清华大学校务委员会副主任杨斌主持捐赠仪式。 张剑辉回顾了清华求学、海归创业、实业报国的人生历程。他表示，清华"自强不息、厚德载物"的校训和"行胜于言"的校风始终是引导他砥砺前行的精神灯 塔。海博思创从初创企业成长为行业龙头，离不开校友与社会各界的大力支持，彰显了产学研深度融合的清华力量。张剑辉表示，此次捐赠不仅是感恩母校 的一种表达，也希望能够为清华的教育事业贡献力量，为国家培养造就更多德才兼备、担当使命的高素质人才。 邱勇代表清华大学诚挚感谢张剑辉校友的慷慨捐赠。他表示，张剑辉校友长期倾心支持母校建设和学生发展，彰显了清华企业家饮水思源、回报社会的使命 担当。国际会议中心将作为学校全球交流合作的枢纽，承载开展国际前沿对话、打造改革创新策源地等功能。相信此次捐赠将助力清华以大力度、更实举措 推动国际交流合作向更高水平迈 ...

Core Insights - The King Lake Independent Energy Storage Project by Haibosichuang has made significant progress, attracting widespread attention in the German energy storage industry since its inception [1] - The project aims to optimize local electricity distribution and enhance energy efficiency, providing a solid guarantee for the stable operation of the regional power system [1] Project Overview - The project was officially initiated in July 2024, with equipment arriving at the site in December 2024 and installation completed by February 2025, currently in trial operation [3] - The project has a scale of 10.35MW/22.36MWh and is equipped with the Haibosichuang HyperBlock II liquid cooling energy storage system, which boasts high maturity, safety, low Levelized Cost of Storage (LCOS), long lifespan, and strong environmental adaptability [3] - The system includes advanced fire safety measures and is supported by the Haibosichuang AI cloud platform for automatic inspection and remote operation, ensuring safe and stable operation of the energy storage station [3] Client and Market Position - The client, SF, is one of the largest electricity traders in the German market, chosen Haibosichuang for its comprehensive advantages, including extensive industry experience, leading market position, and high-quality production capabilities [5] - Haibosichuang's team has demonstrated rapid and professional responses to client needs, supported by a local operations team in Germany providing 24/7 service [6] Market Impact - As an independent energy storage station, the King Lake project will participate in local primary and secondary frequency regulation services and electricity market trading, playing a crucial role in stabilizing regional power supply and enhancing energy utilization efficiency [8] - The project is expected to significantly contribute to the German energy market and support local energy transition and sustainable development [8]

Core Viewpoint - Haibo Shichuang's first annual report post-IPO shows strong financial performance, indicating a promising future for the energy storage sector driven by renewable energy growth and supportive policies [1][2]. Financial Performance - In 2024, Haibo Shichuang achieved revenue of 8.27 billion yuan, a year-on-year increase of 18.44%, and a net profit of 648 million yuan, up 12.06%, with basic earnings per share at 4.86 yuan [1]. - The Q1 2025 report indicates revenue of 1.548 billion yuan, reflecting a 14.86% year-on-year growth [1]. Industry Growth and Trends - The National Energy Administration reported that in 2024, new renewable energy installations reached 373 million kilowatts, a 23% increase, accounting for 86% of new power installations [1]. - By the end of 2024, total renewable energy capacity in China reached 1.889 billion kilowatts, a 25% increase, with wind and solar power accounting for 1.408 billion kilowatts [1]. Storage Technology and Market Demand - The rise of renewable energy has increased the demand for energy storage solutions to address the intermittency and volatility of sources like wind and solar [1][4]. - Haibo Shichuang's storage systems are designed to mitigate issues such as "curtailment" of wind and solar power, enhancing the reliability and stability of the power system [4]. Strategic Initiatives - The company has launched a "Storage + X" strategy to explore new business models and applications across various sectors, including charging, oil fields, and data centers [4]. - Haibo Shichuang is expanding its manufacturing capabilities with new bases in regions like Gansu, aiming to support the growing demand for energy storage solutions [7]. Competitive Position - As of the end of 2024, Haibo Shichuang ranked first in the domestic energy storage system installation capacity, with a cumulative installed capacity of 73.76 million kilowatts [6][7]. - The company has established a comprehensive technology system from cell modeling to system integration, focusing on continuous innovation and R&D investment [7]. Future Outlook - The energy storage industry is expected to see significant growth opportunities, with a target of 30 million kilowatts of new storage capacity by 2025 as outlined in national policies [6]. - Haibo Shichuang aims to enhance its value management and collaborative innovation across the energy storage industry, contributing to a cleaner and more efficient energy system [8].

Core Viewpoint - Haibo Technology (688411, SH) has reported strong financial performance for 2024, achieving significant growth in both revenue and net profit, marking three consecutive years of high growth in these metrics [1][3]. Financial Performance - In 2024, Haibo Technology achieved revenue of 8.27 billion yuan, a year-on-year increase of 18.44%, and a net profit of 648 million yuan, up 12.06%. The basic earnings per share were 4.86 yuan. The company plans to distribute a cash dividend of 11 yuan per 10 shares (including tax) [3]. - The revenue scale reached a new high, with 2024 revenue of 8.27 billion yuan, continuing to grow from 2.626 billion yuan in 2022 and 6.982 billion yuan in 2023, solidifying its position as an industry leader [3]. - The overseas market saw a breakthrough, with overseas revenue of 539 million yuan, accounting for 6.53% of total revenue. The company is focusing on Europe, North America, the Middle East, and Asia-Pacific, expecting significant growth in the European market [3]. Profit Structure and Optimization - The net profit of 648 million yuan was achieved despite a 27.03% year-on-year decline in domestic energy storage system prices, indicating enhanced resilience in profitability [4]. - The company emphasizes technology-driven cost reduction and does not engage in low-price competition. The bidding process typically takes 3-9 months, allowing for further cost reduction opportunities [4]. - Continuous high investment in R&D, particularly in integrating AI with energy storage, has led to improved product performance through a comprehensive data model covering the entire lifecycle of energy storage systems [4]. Technical and Market Position - Haibo Technology has established itself as a leading provider of electrochemical energy storage systems, with a comprehensive technical system covering the entire lifecycle of energy storage batteries [7][8]. - The company has developed strong partnerships with major state-owned enterprises and power grid companies, enhancing its market position and customer base [7]. - The focus on deep customization in R&D has allowed the company to enhance overall system performance and create competitive barriers, ensuring a leading edge in technology and market adaptability [9]. Industry Outlook - The demand for energy storage is expected to grow significantly due to the increasing integration of renewable energy sources and the need for grid stability [10]. - Haibo Technology plans to continue its deep R&D efforts in core storage technologies and expand its global market presence, aiming for faster growth in the coming years [10]. - The integration of AI technology into energy storage systems is expected to enhance operational efficiency and safety management, positioning the company for future advancements in the industry [11].

Core Viewpoint - A new company, Baotou Bobo New Energy Technology Co., Ltd., has been established, focusing on renewable energy services such as power generation, wind power, solar power, and energy storage [1] Company Summary - The legal representative of the newly established company is Huang Zifeng [1] - The registered capital of the company is 1 million yuan [1] - The company is wholly owned by Haibo Sichuang through indirect shareholding [1] Industry Summary - The company's business scope includes services related to power generation technology, wind power technology, solar power technology, and energy storage technology, indicating a focus on the renewable energy sector [1]

证券时报·数据宝统计显示，以发行日期为基准统计，截至5月7日，今年以来科创板累计有5家公司发行 新股，累计募资金额达34.65亿元，单家公司平均募集资金6.93亿元。分区间来看，募资金额超10亿元的 有1家，募资金额5亿元至10亿元的有3家，募资金额在5亿元以下的有1家。 兴福电子为今年以来募资金额最多的科创板公司，首发募集资金达11.68亿元，募资主要投向使用暂时 闲置募集资金进行现金管理及以协定存款方式存放募集资金余额，4万吨/年超高纯电子化学品项目（上 海），2万吨/年电子级氨水联产1万吨/年电子级氨气项目等；其次是海博思创，募资金额为8.61亿元， 募资主要用于使用部分暂时闲置募集资金进行现金管理，储能系统集成设备生产项目，储能系统研发及 产业化项目等。募资金额较多的还有思看科技、汉邦科技、胜科纳米等，分别募资5.69亿元、5.01亿 元、3.66亿元。 （文章来源：证券时报网） 市盈率方面，已发行的科创板公司发行市盈率在6.14倍至42.64倍，平均值27.72倍，中位数26.35倍，发 行市盈率最高的是胜科纳米，发行市盈率达42.64倍，相对于行业均值，有1家公司发行市盈率高于行业 均值，占比20 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% compared to the market benchmark within the next six months [5][17]. Core Insights - The company is experiencing accelerated overseas expansion and has a sufficient backlog of orders, which supports growth prospects, with a significant performance increase expected in 2025 [2][4]. - In 2024, the company achieved a revenue of 8.27 billion yuan, representing a year-on-year growth of 18.44%, and a net profit attributable to shareholders of 648 million yuan, up 12.06% year-on-year [3]. - The company's energy storage business is developing steadily, with a revenue of 8.19 billion yuan in 2024 and a gross margin of 18.22%, which is better than its peers [4]. - The company has a strong focus on technological innovation and cost reduction, which has led to an increase in R&D expenditure as a percentage of revenue [3][4]. - The company is strategically expanding into four key overseas regions: Europe, North America, the Middle East, and Asia-Pacific, with expectations of significant growth in the European market [4]. Financial Performance Summary - The company forecasts net profits of 820 million yuan, 1.075 billion yuan, and 1.25 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 27%, 31%, and 16% [5][6]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 4.61 yuan, 6.05 yuan, and 7.03 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 16, 12, and 11 [5][6]. - The company’s total revenue is expected to reach 12.06 billion yuan in 2025, with a growth rate of 46% [6].

事件：公司发布2024 年年报及2025 年一季报，2024 年实现营收82.70亿元，同比+18.44%，实现归母净 利6.48 亿元，同比+12.06%；2025Q1 公司实现营收15.48 亿元，同比+14.86%，实现归母净利0.94 亿 元，同比-40.60%，公司2025Q1 盈利同比下滑主要因为部分以前年度在手订单结转到上年同期执行并实 现收入对应毛利率相对较高，同时公司积极加大技术创新和产品降本的提质研发投入导致研发费用率上 升。 储能业务稳健发展，毛利率优于同业。公司2024 年实现储能业务收入81.93 亿元，实现销量 11.82GWh，对应单价0.69 元/Wh，毛利率18.22%优于同业。公司毛利率较优主要由于：①公司投标重 视利润，不以低价内卷为竞争策略；②公司重视技术降本，通常集采项目从中标到实施存在3-9个月的 周期，为具体项目进一步技术降本存在空间；③公司作为头部企业，采购具备规模化集采优势；④公司 生产计划注重结合项目运输半径、规模化制造等因素，进一步降低生产成本。地域分布方面，公司2024 年海外收入占比达6.51%，海外业务实现突破。 四大区域重点布局，海外业务有望发力。 ...

Group 1: Investment Rating - The report maintains a "Recommended" rating for the companies analyzed, indicating a positive outlook for their future performance [10][19][33]. Group 2: Core Insights - The active bond fund market shows a slight increase in the number of funds and total assets, with 3,263 funds and a total scale of 7.90 trillion yuan, reflecting a 0.8% and 1.0% increase respectively [7][8]. - The performance of active bond funds in Q1 was influenced by rising government bond yields, with short-term pure bond funds performing particularly well [7][8]. - The report highlights a shift in asset allocation within mixed secondary bond funds, with increased holdings in sectors such as non-ferrous metals, pharmaceuticals, and steel [8][9]. - The medical device company Mindray achieved a revenue of 36.73 billion yuan in 2024, with a year-on-year growth of 5.14%, while its international business grew by 21.28% [10][11]. - Haibo Technology reported a revenue of 8.27 billion yuan in 2024, marking an 18.44% increase, with a significant focus on energy storage systems [15][18]. - The refrigerant manufacturer Sanmei achieved a revenue of 4.04 billion yuan in Q1 2025, reflecting a 26.42% increase, driven by strong demand in the home appliance and automotive sectors [26][27]. Group 3: Summary by Sections Active Bond Funds - As of Q1 2025, the number of active bond funds reached 3,263, with a total scale of 7.90 trillion yuan, and 43 new funds were issued, totaling 783.7 billion yuan [7][8]. - The performance of short-term pure bond funds was notably strong due to rising yields, while mixed bond funds showed volatility [7][8]. Mindray Medical - Mindray's revenue for 2024 was 36.73 billion yuan, with a net profit of 11.67 billion yuan, and a proposed cash dividend of 5.6 yuan per 10 shares [10][11]. - The company anticipates a recovery in domestic business in 2025, with international revenue expected to continue growing [11][12]. Haibo Technology - Haibo's revenue for 2024 was 8.27 billion yuan, with a focus on energy storage systems, which accounted for a significant portion of its revenue [15][18]. - The company has established partnerships with international firms to explore new market opportunities [18]. Sanmei - Sanmei's revenue for 2024 was 4.04 billion yuan, with a significant increase in refrigerant prices due to supply constraints [26][27]. - The company is well-positioned in the market with a leading share in the production of third-generation refrigerants [29]. Huayu Automotive - Huayu reported a revenue of 168.85 billion yuan in 2024, with a slight decline in net profit due to cost pressures [31][32]. - The company is adjusting its customer structure to mitigate risks associated with its largest client, SAIC [32][33].

新华财经上海4月30日电（记者郭慕清）近日，海博思创（688411）发布了 2024 年年报，在过去一年业绩稳步增长，实现 了营收与净利润的双增长，交出了上市后的首份漂亮"成绩单"。 年报数据显示，2024 年海博思创实现营业总收入 82.70 亿元，同比增长 18.44%；归属于母公司所有者的净利润达 6.48 亿 元，同比增长 12.06%；基本每股收益为 4.86 元，同比增长 11.98%。 数据显示，报告期内，海博思创主要通过销售储能系统产品获取收入和利润。2024年，海博思创的储能业绩可圈可点：储 能行业营收81.93亿元，营收占比99%，同比增长18.27%。储能行业毛利率18.22%，同比减少1.19个百分点。 随着全球能源转型的加速，储能市场需求持续增长。海博思创在巩固国内市场优势的同时，积极拓展海外业务，订单呈规 模增长趋势。年报显示，公司已顺利交付了德国国王湖独立储能电站、芬兰分布式储能电站等海外项目，2024年，公司在 海外市场的营业收入为53871.40万元，毛利率为42.14%。 技术创新一直是海博思创发展的核心驱动力。数据显示，海博思创研发投入持续加大，公司2024年研发费用达2 ...