金融界消息 截至2025年8月15日收盘，海博思创（688411）报收于99.98元，上涨3.71%，换手率 5.29%，成交量2.01万手，成交金额1.98亿元。 资金流向方面，今日主力资金净流入3204.79万元，占比成交额16.15%。其中，超大单净流入1096.81万 元、占成交额5.53%，大单净流入2107.97万元、占成交额10.63%，中单净流出流出575.80万元、占成交 额2.9%，小单净流出2628.99万元、占成交额13.25%。 海博思创最新一期业绩显示，截至2025一季报，公司营业总收入15.48亿元、同比增长14.86%，归属净 利润9385.72万元，同比减少40.62%，扣非净利润7849.47万元，同比减少51.45%，流动比率1.418、速动 比率1.237、资产负债率64.61%。 天眼查商业履历信息显示，北京海博思创科技股份有限公司，成立于2011年，位于北京市，是一家以从 事计算机、通信和其他电子设备制造业为主的企业。企业注册资本17773.0148万人民币，实缴资本 10221.8693万人民币。公司法定代表人为张剑辉。 通过天眼查大数据分析，北京海博思创科技股份 ...

Core Insights - The company Haibo Shichuang has been rated as a "Five-Star Outstanding" enterprise in the ESG (Environmental, Social, and Governance) rating by the China Supplier ESG Rating Platform, reflecting strong recognition of its sustainable development practices [1][2] Environmental Performance - Haibo Shichuang actively addresses climate change through carbon management, energy management, and environmental management, promoting a green transformation in its operations [1] - Several factories under the company have been listed as "Green Factories" by the Ministry of Industry and Information Technology, setting a benchmark for green manufacturing in the industry [1] Social Responsibility - The company emphasizes human rights and cultural inclusivity, striving to create a harmonious corporate culture [1] - Annually, Haibo Shichuang invests millions in public welfare initiatives, actively participating in social responsibility efforts [1] Corporate Governance - The ESG committee operates efficiently, ensuring that ESG strategic goals are implemented across all departments, showcasing the company's commitment to sustainable development as a leader in the energy storage sector [1] Strategic Vision - As a leader in the energy storage industry, Haibo Shichuang recognizes the strategic value of ESG principles in enhancing core functions, competitiveness, and promoting high-quality development [2] - The company focuses on innovation in energy storage technology and applications, aiming to provide efficient, low-carbon, and reliable energy storage solutions across various energy transition scenarios [2] Future Commitment - Haibo Shichuang plans to further integrate ESG principles into all aspects of its strategy, management, and operations, ensuring long-term stability and responding to stakeholder expectations [2] - The company aims to create sustainable value for employees, customers, partners, investors, and society, leading the energy storage industry towards a greener and zero-carbon future [2]

Core Points - The core viewpoint of the articles highlights that Beijing Haibo Sichuang Technology Co., Ltd. has been awarded the "Five-Star Outstanding" rating in the ESG (Environmental, Social, and Governance) category by the China Supplier ESG Rating Platform, reflecting industry recognition of the company's sustainable development practices [1][2]. Group 1: Environmental Management - The company actively addresses climate change and promotes carbon management, energy management, and environmental management, facilitating a green transformation of its operations [1]. - Several factories under the company have been listed as "Green Factories" by the Ministry of Industry and Information Technology, setting a benchmark for green manufacturing in the industry [1]. Group 2: Social Responsibility - The company emphasizes human rights and cultural care, striving to create a harmonious and inclusive corporate culture [1]. - Annually, the company invests millions in public welfare initiatives, actively participating in social charity work [1]. Group 3: Corporate Governance - The ESG committee operates efficiently, with ESG strategic goals implemented across various departments, demonstrating the company's commitment to sustainable development [1]. - The company has achieved an excellent rating in the environmental dimension and a five-star overall ESG performance among large enterprises, confirming the effectiveness of its sustainable management practices [2].

Core Insights - The other power equipment sector experienced a rise of 1.55% on August 13, with Oulutong leading the gains [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Sector Performance - Oulutong (300870) saw a closing price of 183.50, with a significant increase of 12.32% and a trading volume of 120,200 shares, amounting to a transaction value of 2.106 billion yuan [1] - Kehua Data (002335) closed at 47.68, up 7.15%, with a trading volume of 642,300 shares and a transaction value of 2.964 billion yuan [1] - KOTAI Power (300153) closed at 33.80, increasing by 4.22%, with a trading volume of 439,700 shares and a transaction value of 1.467 billion yuan [1] - Magpower (002851) closed at 69.46, up 4.01%, with a trading volume of 394,700 shares and a transaction value of 2.720 billion yuan [1] - Power Source (600405) closed at 6.99, increasing by 3.71%, with a trading volume of 435,400 shares and a transaction value of 302 million yuan [1] - Haidao Sichuang (688411) closed at 96.58, up 3.63%, with a trading volume of 23,000 shares and a transaction value of 219 million yuan [1] - New Funi (300593) closed at 18.93, increasing by 2.77%, with a trading volume of 269,700 shares and a transaction value of 504 million yuan [1] - Aike Saibo (688719) closed at 43.26, up 2.58%, with a trading volume of 40,700 shares and a transaction value of 177 million yuan [1] - Shenghong Co. (300693) closed at 35.48, increasing by 2.37%, with a trading volume of 221,900 shares and a transaction value of 780 million yuan [1] - Rongfa Nuclear Power (002366) closed at 8.24, up 2.36%, with a trading volume of 1,841,800 shares and a transaction value of 1.508 billion yuan [1] Capital Flow - The other power equipment sector saw a net inflow of 350 million yuan from main funds, while retail funds experienced a net outflow of 116 million yuan [3]

通过天眼查大数据分析，北京海博思创科技股份有限公司共对外投资了34家企业，参与招投标项目312 次，知识产权方面有商标信息72条，专利信息371条，此外企业还拥有行政许可5个。 来源：金融界 资金流向方面，今日主力资金净流出2251.67万元，占比成交额10.36%。其中，超大单净流出885.08万 元、占成交额4.07%，大单净流出1366.58万元、占成交额6.29%，中单净流出流入1402.75万元、占成交 额6.45%，小单净流入848.91万元、占成交额3.91%。 海博思创最新一期业绩显示，截至2025一季报，公司营业总收入15.48亿元、同比增长14.86%，归属净 利润9385.72万元，同比减少40.62%，扣非净利润7849.47万元，同比减少51.45%，流动比率1.418、速动 比率1.237、资产负债率64.61%。 金融界消息 截至2025年8月11日收盘，海博思创（688411）报收于92.81元，上涨4.87%，换手率 6.15%，成交量2.33万手，成交金额2.17亿元。 天眼查商业履历信息显示，北京海博思创科技股份有限公司，成立于2011年，位于北京市，是一家以从 事计算机 ...

Investment Rating - The report maintains an "Outperform" rating for the industry [1] Core Insights - The domestic large storage enterprises are consolidating their global market position, with the launch of bidding for Shandong Document No. 136 [1] - The wind power index increased by 2.89%, outperforming the CSI 300 index by 1.66 percentage points [4][11] - The overall price-to-earnings ratio (PE TTM) for the wind power index is currently 21.24 times [4][11] Summary by Sections Wind Power - The U.S. has paused all new offshore wind power project developments, affecting over 3.5 million acres of previously designated areas [5][10] - The GWEC predicts a 48% reduction in the forecast for new offshore wind installations in the U.S. from 2025 to 2029, now estimated at 5.8 GW [5][10] - Domestic demand for wind power remains high, improving overall supply-demand conditions and corporate profitability [6] Solar Power - The Shandong Development and Reform Commission has initiated bidding for new energy pricing mechanisms, with a total scale of 9.467 billion kWh for wind and solar projects [5][6] - The solar power segment's overall PE ratio is approximately 34.33 times [4] Energy Storage & Hydrogen - Tesla leads the global battery energy storage system integrators with a 15% market share, followed closely by Sungrow with 14% [6] - The report highlights the growing competitiveness of Chinese enterprises in the global energy storage market [6] - Investment opportunities are identified in overseas non-U.S. large storage markets, particularly for companies like Sungrow and Haibo [6] Investment Recommendations - For wind power, focus on domestic demand growth and potential breakthroughs in offshore wind technology, recommending companies like Mingyang Smart Energy and Goldwind [6] - In solar power, structural opportunities are suggested, with recommended stocks including Dier Laser and LONGi Green Energy [6] - For energy storage, companies with strong global competitiveness and low valuations are recommended, such as Sungrow and Haibo [6] - In hydrogen, companies involved in green hydrogen project investments are highlighted, with a focus on Jidian [6]

Core Insights - The report highlights that in 2024, the total salary for A-share listed company secretaries reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - Among the listed companies in the other power equipment industry, the total salary for secretaries amounted to 23.7069 million yuan, with an average salary of 817,500 yuan [1] - The highest-paid company secretary in the industry is Gao Shuqing from Haibo Sichuang, earning 2.95 million yuan, significantly surpassing the second-highest, Lin Tao from Kehua Data, who earns 1.39 million yuan, making Gao's salary 3.6 times the industry average [1] Industry Summary - The report includes data on 29 listed companies in the other power equipment sector, detailing their secretaries' salaries and educational backgrounds [2] - The salary changes for key company secretaries in the sector show significant variations, with some experiencing substantial increases, such as Feng Zhiyong from Tonghe Technology, whose salary rose by 53.47% to 1.1507 million yuan [2] - Other notable salaries include Wang Tao from Maigemi Te at 1.1426 million yuan and Hu Tianshun from Shenghong Co. at 1.1 million yuan, with both showing modest salary changes [2]

Group 1 - The establishment of Xinbochuang (Beijing) International Holdings Co., Ltd. has been reported, with a registered capital of 20 million yuan [1] - The company’s business scope includes information system integration services, IoT technology services, energy-efficient technology research and development in the power industry, and big data services [1] - The company is jointly owned by Hainan Xinbochuang Energy Technology Co., Ltd. and Hebei Xiong'an Huichu Energy Technology Co., Ltd., a wholly-owned subsidiary of Haibo Sichuang (688411) [1]

Summary of Haibo's Conference Call Company Overview - Haibo focuses on energy storage system integration, covering power side, grid side, and user side, with self-developed EMS and operation & maintenance products [2][3] - The company has achieved a revenue growth of 117% over the past four years, with sustained high profit growth [2][3] Core Insights and Arguments - **Market Dynamics**: The domestic energy storage market is transitioning from mandatory to market-based allocation, leading to uncertain demand. However, data since Q3 indicates that energy storage demand will continue to grow through 2025 [2][5] - **Profitability**: Haibo's gross margin for energy storage systems has slightly declined but remains above the industry average, benefiting from a favorable domestic market and expansion into high-margin overseas markets [5][11] - **Independent Storage Growth**: The proportion of independent energy storage has significantly increased, with a gradual formation of a spot trading model and the introduction of capacity pricing policies, providing important revenue models [2][6] - **Strategic Partnerships**: Collaborations with Ningde and Yiwei have enabled Haibo to secure better pricing and rebate mechanisms, contributing to the lowest expense ratio in the industry [3][9] Overseas Market Expansion - Haibo has successfully entered overseas markets, with rapid growth in Europe, the Middle East, Australia, and Latin America. The company has signed supply agreements and received multiple GWh-level project orders [10][11] - Price differences across regions are notable, with gross margins in the U.S. potentially reaching over 35%, while Europe and Australia maintain around 30% [11][12] Future Growth and Profitability - Haibo's domestic profitability is stable at approximately 0.03 CNY per watt. If overseas business reaches 10% of total revenue with a profit of 0.1 CNY per watt, overall profitability could double [12][13] - The company anticipates that by 2026, overseas business will exceed 10% of total revenue, significantly enhancing unit profitability elasticity [13] Additional Important Points - Haibo is actively pursuing excess revenue sharing models and AI collaborations to strengthen its competitive edge [2][6] - The company plans to focus on operation and maintenance services as a key growth area, with overseas operations becoming an important revenue source [8][10] - The stable pricing system and refined management capabilities in the domestic market contribute to Haibo's competitive advantage [9]

Group 1 - The core viewpoint of the collaboration between Paradigm Group and Haibo Technology is to establish a joint venture focusing on the "AI + Energy Storage" sector, marking a significant step in the deep application of AI in energy storage [1][2] - Paradigm Group will leverage its advanced AI capabilities, including AI Agent and world model capabilities, to enhance energy storage systems with unprecedented intelligence, optimizing charging and discharging strategies for maximum economic benefits [1][2] - The partnership aims to integrate Paradigm Group's AI insights with Haibo Technology's energy storage hardware, creating a closed-loop intelligent management system from perception to decision-making and execution [1][2] Group 2 - Haibo Technology will provide comprehensive support for the joint venture, utilizing its expertise in the entire lifecycle management of energy storage systems, which is crucial for the AI-driven energy revolution [2] - The collaboration is not merely a technical addition but a deep synergy aimed at addressing the core challenges that hinder large-scale development in energy storage [2] - The leaders of both companies believe that the integration of energy storage technology and AI algorithms will create a synergistic effect, achieving greater outcomes than the sum of their parts [2][3] Group 3 - Paradigm Group's founder emphasizes that while the new energy industry has vast potential, its natural volatility and system complexity pose significant challenges, which can be addressed through dual-core driving: energy storage as the physical foundation and AI as the digital decision-making hub [3] - The collaboration is viewed as a critical step towards the digitalization of the energy storage industry, with expectations that "AI + Energy Storage" will significantly accelerate the global energy transition process [3]