Core Insights - A new private equity partnership named Haibo Sichuangzhi Equity Investment (Anhui) Partnership was established on September 8, with a capital contribution of 1 billion RMB [1] Group 1: Company Formation - The executing partner of the new partnership is Dafeng Private Fund Management Co., Ltd. and Xinbochuang (Beijing) International Holdings Co., Ltd. [1] - The partnership's business scope includes private equity investment, investment management, and asset management activities [1] Group 2: Partner Information - The partnership is co-funded by Ganzhou Jinyi Tongda Enterprise Management Partnership, Beijing Dancheng Asset Management Co., Ltd., and Haibo Sichuang (688411) [1]

Core Insights - Beijing Haibo Sichuang Technology Co., Ltd. has launched its new modular energy storage product, HyperBlockM, marking a significant step in overseas market expansion and product technology architecture [1] - The company has introduced a comprehensive product line in the global market, meeting strict safety and compliance requirements in regions like Europe and North America with products certified by UL, CE, and IEC [1] - The company's flagship products for overseas markets include the HyperBlockM large-scale energy storage system and the HyperCube C&I commercial energy storage system, catering to large-scale and commercial application needs [1] Company Strategy - The founder and CEO, Dr. Zhang Jianhui, emphasizes a dual-driven approach of "technological innovation + localized service" to achieve a "Global + Local" development path [1] - Haibo Sichuang has established local teams in key markets such as Europe, America, Asia-Pacific, and the Middle East to quickly respond to regional demands and provide customized services [1] - The company aims to accelerate its globalization efforts by promoting Chinese technology and service systems worldwide, targeting a balanced revenue growth between domestic and overseas markets within the next three to five years [1]

Core Insights - Beijing Haibo Sichuang Technology Co., Ltd. has launched its new modular energy storage product, HyperBlock M, marking a significant step in overseas market expansion and product technology architecture [1] - The company has established a comprehensive product line for the global market, meeting strict safety and compliance requirements in regions like Europe and North America with products certified by UL, CE, and IEC [1] - Haibo Sichuang aims to achieve a balanced revenue target between domestic and overseas markets within the next three to five years [1] Group 1 - The HyperBlock M large-scale energy storage system and HyperCube C&I commercial energy storage system are flagship products targeting large-scale and commercial applications [1] - The company focuses on a dual-driven strategy of "technological innovation + localized service" to implement a "Global + Local" development path [1] - Haibo Sichuang has established local teams in key markets such as Europe, America, Asia-Pacific, and the Middle East to respond quickly to regional demands and provide customized services [1] Group 2 - In the first half of 2025, Haibo Sichuang's overseas revenue is experiencing rapid growth, indicating the effectiveness of its overseas strategy as a new growth engine [2] - The company is building local manufacturing centers, operation and testing bases, and local warehousing and logistics networks in Europe and North America to enhance rapid delivery and sustainable service capabilities [2] - Haibo Sichuang is committed to achieving global product quality consistency and full-chain traceability through the establishment of digital factories and smart manufacturing systems [2]

Group 1 - The core point of the article is the establishment of Haibosichuang Zhichu Investment (Hainan) Co., Ltd., which focuses on AI and IoT businesses [1] - The registered capital of the new company is 500 million yuan [1] - The business scope includes IoT technology services, emerging energy technology research and development, AI public service platform technical consulting, and technology intermediary services [1] Group 2 - The company is jointly held by Haibosichuang (688411) and Beijing Dancheng Asset Management Co., Ltd. [1]

人民财讯9月9日电，企查查APP显示，近日，海博思创智储投资(海南)有限公司成立，注册资本5亿元， 经营范围包含：物联网技术服务；新兴能源技术研发；人工智能公共服务平台技术咨询服务；科技中介 服务等。企查查股权穿透显示，该公司由海博思创、北京丹诚资产管理有限公司等共同持股。 ...

Core Insights - On September 8, Haibo Shichuang experienced a decline of 3.17% with a trading volume of 1.263 billion yuan [1] - The company recorded a financing purchase of 151 million yuan and a financing repayment of 150 million yuan on the same day, resulting in a net financing purchase of 1.0345 million yuan [1][2] - As of September 8, the total balance of margin trading for Haibo Shichuang was 345 million yuan, accounting for 5.21% of its circulating market value [2] Company Overview - Haibo Shichuang, established on November 4, 2011, is located in Haidian District, Beijing, and focuses on the research, production, and sales of electrochemical energy storage systems [2] - The company provides a full range of energy storage system products and one-stop overall solutions for clients across the entire "source-grid-load" industry chain, including traditional power generation, renewable energy generation, smart grids, and end power users [2] - The main business revenue composition is as follows: energy storage systems 99.77%, new energy vehicle leasing 0.10%, other (supplementary) 0.07%, and technical services 0.06% [2] Financial Performance - For the period from January to June 2025, Haibo Shichuang achieved an operating income of 4.522 billion yuan, representing a year-on-year growth of 22.66% [2] - The net profit attributable to the parent company was 316 million yuan, with a year-on-year increase of 12.05% [2] - Cumulative cash dividends distributed by the company since its A-share listing amount to 198 million yuan [3] Shareholder Information - As of June 30, 2025, the number of shareholders for Haibo Shichuang was 10,200, a decrease of 20.06% compared to the previous period [2] - The average circulating shares per person increased by 25.09% to 3,507 shares [2] - Notable institutional shareholders include Western Leading Carbon Neutral Mixed Fund, which holds 531,500 shares, and new entrants such as Invesco Great Wall New Energy Industry Stock A [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported significant growth in shipments and accelerated overseas expansion in Q2 2025, indicating a substantial future potential in independent storage and operational maintenance [1] - The company achieved a revenue of 4.52 billion yuan in H1 2025, representing a year-on-year increase of 22.7%, with a net profit of 320 million yuan, up 12.1% year-on-year [1] - The company is expected to ship over 30 GWh in total for the year, with overseas shipments projected to reach 3 GWh [1] Financial Summary - Revenue projections for the company are as follows: - 2023A: 6,982 million yuan - 2024A: 8,270 million yuan - 2025E: 15,200 million yuan - 2026E: 21,300 million yuan - 2027E: 27,322 million yuan - Net profit projections are as follows: - 2023A: 578.12 million yuan - 2024A: 647.84 million yuan - 2025E: 915.87 million yuan - 2026E: 1,266.87 million yuan - 2027E: 1,815.67 million yuan - The latest diluted EPS is projected to be: - 2023A: 3.21 yuan - 2024A: 3.60 yuan - 2025E: 5.09 yuan - 2026E: 7.03 yuan - 2027E: 10.08 yuan - The P/E ratios based on the latest diluted EPS are: - 2023A: 46.13 - 2024A: 41.16 - 2025E: 29.12 - 2026E: 21.05 - 2027E: 14.69 [1][8]

Market Performance - The other power equipment sector increased by 4.22% on September 5, with Haidao Sichuang leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Highlights - Haidao Sichuang (688411) closed at 180.20, with a rise of 14.92% and a trading volume of 71,200 shares, amounting to 1.218 billion yuan [1] - Xizi Clean Energy (002534) saw a 10.01% increase, closing at 14.07 with a trading volume of 287,500 shares [1] - Zhongheng Electric (002364) and Kehua Data (002335) both rose by 10.00%, closing at 25.19 and 55.00 respectively [1] Capital Flow - The other power equipment sector experienced a net inflow of 1.119 billion yuan from main funds, while retail investors saw a net outflow of 888.7 million yuan [2] - The main funds showed significant net inflows in stocks like Kehua Data (1.92 million yuan) and Zhongheng Electric (1.72 million yuan) [3] Individual Stock Performance - Kehua Data (002335) had a main fund net inflow of 1.92 million yuan, but retail investors had a net outflow of 94.98 million yuan [3] - Zhongheng Electric (002364) also saw a main fund net inflow of 1.72 million yuan, with retail investors experiencing a net outflow of 74.10 million yuan [3] - Haidao Sichuang (688411) had a main fund net inflow of 7.09 million yuan, while retail investors faced a net outflow of 35.87 million yuan [3]

Core Viewpoint - The energy storage sector in the A-share market is experiencing strong performance, with several stocks showing significant gains, indicating a potential investment opportunity in this rapidly growing industry [1] Industry Summary - Energy storage is identified as one of the fastest-growing and most cost-effective sectors within the new energy industry, despite recent average market performance [1] - The market's expectations are tempered by concerns over the sustainability of rapid project releases in regions like the Middle East and a slowdown in global photovoltaic installation growth, which may impact energy storage growth [1] - However, the sector is expected to establish its own growth trajectory, with independent storage solutions emerging, suggesting that energy storage will exceed expectations [1] Company Summary - Notable stock performances include: - Haibo Sichuang: +12.76%, market cap of 31.8 billion, YTD gain of 825.38% [2] - Huayu New Energy: +6.54%, market cap of 12.4 billion, YTD gain of 32.07% [2] - Kelu Electronics: +4.90%, market cap of 12.8 billion, YTD gain of 77.01% [2] - Nandu Power: +4.88%, market cap of 16.2 billion, YTD gain of 11.83% [2] - Pioneering Technology: +4.75%, market cap of 15.3 billion, YTD gain of 56.82% [2] - Wanli Co.: +4.04%, market cap of 1.735 billion, YTD gain of 39.75% [2] - Camel Group: +3.78%, market cap of 12.2 billion, YTD gain of 30.11% [2] - Shengyang Group: +3.40%, market cap of 7.035 billion, YTD gain of 83.30% [2]

Core Viewpoint - The energy storage sector in the A-share market is experiencing strong performance, with several stocks showing significant gains, indicating a potential investment opportunity in this rapidly growing industry [1] Industry Summary - Energy storage is identified as one of the fastest-growing and most cost-effective sectors within the new energy industry, despite recent average market performance [1] - The market's expectations are tempered by concerns over the sustainability of rapid project releases in regions like the Middle East and a slowdown in global photovoltaic installation growth, which may impact energy storage growth [1] - However, the sector is expected to establish its own growth trajectory, with independent storage solutions emerging, suggesting that energy storage will exceed expectations [1] - The competitive landscape in the Middle East is perceived as intense, with no excess profits anticipated, yet certain projects, such as the PCS project in Saudi Arabia, are expected to yield excess profits [1] - The household storage segment is entering a seasonal lull, with demand expected to decline in Q4, but recent increases in European electricity prices and recovering shipments in the Asia-Pacific, Africa, and Latin America markets are seen as positive indicators for a rebound in the household storage sector post-holiday [1] - Overall, energy storage is regarded as one of the most valuable investment sectors within the new energy industry, warranting close attention [1] Company Summary - Haibo Sichuang saw a significant increase of 12.76%, with a total market capitalization of 31.8 billion and a year-to-date increase of 825.38% [2] - Huayu New Energy increased by 6.54%, with a market cap of 12.4 billion and a year-to-date increase of 32.07% [2] - Kelu Electronics rose by 4.90%, with a market cap of 12.8 billion and a year-to-date increase of 77.01% [2] - Nandu Power increased by 4.88%, with a market cap of 16.2 billion and a year-to-date increase of 11.83% [2] - Pioneering Technology rose by 4.75%, with a market cap of 15.3 billion and a year-to-date increase of 56.82% [2] - Wanli Co. increased by 4.04%, with a market cap of 1.735 billion and a year-to-date increase of 39.75% [2] - Camel Group rose by 3.78%, with a market cap of 12.2 billion and a year-to-date increase of 30.11% [2] - Shengyang Group increased by 3.40%, with a market cap of 7.035 billion and a year-to-date increase of 83.30% [2]