（记者 王晓波） 孚能科技（688567.SH）8月13日在投资者互动平台表示，布局固态电池为公司的战略发展目标。 公司 全固态电池研发及产业化进展顺利，将量产时间表进一步提前。2025年8月公司已完成向某头部人形机 器人客户送样硫化物全固态电池。今年年底实现全固态电池中试线的投产和60Ah硫化物全固态电池的 小批量交付，2026~2027年推进小批量量产装车，并配套建设GWh级别的生产线，2030年将实现大规模 量产。在产品路线规划方面，孚能科技秉承"投产一代、开发一代、储备一代"的技术开发策略，加速推 进全固态电池产品迭代，2025年推出并即将交付第一代硫化物全固态电池，采用高镍三元正极+高硅负 极，能量密度高达400Wh/kg；2026年将推出第二代硫化物全固态电池，正极材料升级至富锂锰基/高镍 正极，采用锂金属负极，能量密度进一步提升500Wh/kg；2027年将推出第三代硫化物全固态电池，实 现能量密度向500Wh/kg以上水平跃迁。 每经AI快讯，有投资者在投资者互动平台提问：近日有关"固态电池研发和商用时间"的讨论比较多，观 点也不同。敬请详细介绍孚能科技固态电池研发进展和商用计划。 ...

Core Viewpoint - The company views solid-state batteries as the future direction of the power battery industry, emphasizing their intrinsic safety and high energy density [2]. Group 1: Industry Development - The low-altitude economy and embodied intelligence are emerging industries that are rapidly developing, significantly increasing performance requirements for power batteries, which is expected to open up vast incremental market opportunities [2]. - The company has completed sample delivery of sulfide all-solid-state batteries to a leading humanoid robot client and is in ongoing discussions with several other leading humanoid robot companies regarding solid-state battery needs, with current progress being smooth [2]. Group 2: Company Strategy - The company is actively engaging with top humanoid robot manufacturers to meet the demand for solid-state batteries, indicating a strategic focus on innovation and collaboration within the industry [2].

Core Viewpoint - The company, Funeng Technology, is making significant progress in the research and industrialization of all-solid-state batteries, with an accelerated production timeline [1] Group 1: R&D and Production Timeline - Funeng Technology has successfully advanced its all-solid-state battery R&D and industrialization, with plans to deliver samples of sulfide all-solid-state batteries to a leading humanoid robot client by August 2025 [1] - The company aims to achieve pilot production of all-solid-state battery lines by the end of this year and small-scale delivery of 60Ah sulfide all-solid-state batteries [1] - From 2026 to 2027, Funeng Technology plans to promote small-scale production and establish GWh-level production lines, targeting large-scale production by 2030 [1] Group 2: Product Roadmap - The company follows a "production generation, development generation, reserve generation" strategy for technology development, accelerating the iteration of all-solid-state battery products [1] - The first generation of sulfide all-solid-state batteries, featuring high nickel ternary cathodes and high silicon anodes, will be launched in 2025 with an energy density of up to 400Wh/kg [1] - The second generation, set for release in 2026, will upgrade cathode materials to lithium-rich manganese-based/high nickel cathodes and utilize lithium metal anodes, further increasing energy density to 500Wh/kg [1] - The third generation, expected in 2027, aims to achieve energy density exceeding 500Wh/kg [1]

孚能科技（688567.SH）8月12日在投资者互动平台表示，公司已与奔驰、TOGG、Mahindra Group 等海 外车企业形成合作，半固态电池已商业化交付美国头部eVTOL客户，国际化程度位于行业前列。据中 国汽车动力电池产业创新联盟统计，公司2024 年度动力电池出口销量位居全国第三。目前，公司合资 公司 Siro 已在土耳其建成投产 6GWh 产线，当前产能爬坡已基本完成，形成对欧洲、中东、非洲业务 的支持和辐射能力。未来，公司将进一步加强SPS 产品的海外市场拓展工作。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司海外客户有哪些？未来，海外发展规划怎样？ ...

Core Viewpoint - The company has established partnerships with international automotive firms such as Mercedes-Benz, TOGG, and Mahindra Group, and has successfully commercialized its semi-solid-state batteries for leading eVTOL customers in the U.S. [1] Group 1: International Collaboration and Market Position - The company is recognized for its high level of internationalization within the industry, being among the leaders in this aspect [1] - According to the China Automotive Power Battery Industry Innovation Alliance, the company's export sales of power batteries for the year 2024 are projected to rank third nationally [1] Group 2: Production Capacity and Expansion - The company's joint venture, Siro, has established a 6GWh production line in Turkey, which has completed its ramp-up phase [1] - This production capacity is aimed at supporting and expanding the company's business in Europe, the Middle East, and Africa [1] - The company plans to further enhance the overseas market development of its SPS products [1]

Group 1 - The core viewpoint highlights the significant interest in solid-state batteries, particularly driven by the performance of companies like Funeng Technology and the recent market movements in the new energy vehicle sector [1][4] - As of August 12, 2023, the new energy vehicle ETF (159637) saw a substantial inflow of 34 million shares this week, indicating strong investor interest [1] - SNE Research reported that overseas power battery installation volume (excluding China) is projected to reach 209.2 GWh in the first half of 2025, marking a year-on-year growth of 23.8% [1] Group 2 - The humanoid robot market is experiencing rapid development, leading to a surge in demand for specialized batteries, with Funeng Technology recently delivering samples of its sulfide all-solid-state batteries to a leading humanoid robot client [2] - The eVTOL (electric Vertical Take-Off and Landing) sector is projected to create a demand for 30 GWh of batteries by 2030, with Chinese companies benefiting from a mature supply chain that reduces costs significantly compared to Western counterparts [3] - The solid-state battery sector has seen multiple positive developments this year, including the launch of the world's first vehicle-grade solid-state battery production line and the inclusion of solid-state batteries in key national development plans [4] Group 3 - The lithium battery sector is expected to see more rational pricing, with the new energy vehicle sector's valuation at 23.5 times as of August 8, 2025, indicating over 84% potential for recovery compared to historical averages [5] - The new energy vehicle ETF (159637) tracks the CSI New Energy Vehicle Index, which includes 50 leading companies across the new energy vehicle supply chain, providing an efficient investment tool for tracking sector performance [5]

Core Insights - The latest stock price of Funeng Technology is 16.84 yuan, reflecting a 1.14% increase from the previous trading day [1] - The company reached a maximum intraday price of 17.20 yuan and a minimum of 16.52 yuan, with a total transaction amount of 5.01 billion yuan [1] Company Overview - Funeng Technology is a comprehensive energy solutions provider focused on the research, production, and sales of power batteries and battery systems [1] - The main products include battery cells, modules, and battery packs [1] Financial Performance - The company achieved a revenue of 11.68 billion yuan in 2024 and 2.32 billion yuan in the first quarter of 2025 [1] - Funeng Technology has reported losses for five consecutive years from 2020 to 2024, with a total loss amounting to 4.41 billion yuan [1] Shareholder Activity - Shareholder Shenzhen Anyan plans to reduce its holdings by 12.221 million shares, accounting for 1% of the total share capital, with a reduction amount of approximately 206 million yuan between July 25 and August 7, 2025 [1] - Another shareholder, Shanghang Xinyuan, intends to reduce its holdings by up to 24.24 million shares, representing 1.9832% of the total share capital, between August 13 and November 12, 2025 [1]

8月11日，中国汽车动力电池产业创新联盟发布2025年7月动力电池月度信息。7月，我国动力和其他电池合计产量为133.8GWh，环比增长3.6%，同比增长 44.3%。1-7月，我国动力和其他电池累计产量为831.1GWh，累计同比增长57.5%。 7月，我国动力和其他电池销量为127.2GWh，环比下降3.2%，同比增长47.8%。其中，动力电池销量为91.1GWh，占总销量71.6%，环比下降3.1%，同比 增长45.8%；其他电池销量为36.1GWh，占总销量28.4%，环比下降3.4%，同比增长52.9%。 1-7月，我国动力和其他电池累计销量为786.2GWh，累计同比增长60.6%。其中，动力电池累计销量为576.6GWh，占总销量73.3%，累计同比增长50.6%； 其他电池累计销量为209.6GWh，占总销量26.7%，累计同比增长96.2%。 7月，我国动力和其他电池合计出口23.2GWh，环比下降4.7%，同比增长35.4%。合计出口占当月销量18.3%。其中，动力电池出口量为14.8GWh，占总出 口量63.7%，环比下降6.7%，同比增长48.4%；其他电池出口量为8.4GWh，占总出 ...

Market Performance - The electric equipment and new energy sector increased by 1.94% this week, with wind power rising by 4.05%, industrial automation by 3.53%, power generation equipment by 3.5%, new energy vehicle index by 3.22%, lithium battery index by 2.72%, nuclear power by 2.18%, and photovoltaic by 1.26% [1][3]. New Energy Vehicles - In July, new energy vehicle sales faced slight pressure due to subsidy fund disbursement, but sales are expected to stabilize and recover gradually from August. By 2025, domestic new energy vehicle sales are projected to maintain high growth, driving demand for batteries and materials [2]. - The penetration rate of new energy passenger vehicles reached 54.0% in July, an increase of 2.7 percentage points year-on-year [4]. Lithium Battery and Materials - The price of lithium carbonate has risen significantly, which is expected to restore profitability in related sectors. The battery-grade lithium carbonate index price reached 71,961 CNY per ton on August 8, an increase of 1,012 CNY per ton [4]. - Companies are advised to focus on battery and cathode material sectors due to the positive price trends [2]. Solid-State Battery Technology - Funeng Technology has sent samples of sulfide solid-state batteries to leading robotics companies, indicating a clear trend towards industrialization. Future attention should be on the verification progress of solid-state battery-related materials and equipment [2]. Photovoltaic Sector - The Central Economic Work Conference emphasized the need to regulate "involution" competition and promote product quality, guiding companies to exit outdated production capacity. The industry chain prices remained stable this week, with all segments showing a willingness to maintain prices [2]. - The photovoltaic sector's catalyst lies in the actual production capacity release time and scale, with a focus on the silicon material segment and new technology directions [2]. Hydrogen Energy - Continuous policy support is driving the industrialization of hydrogen energy, with pilot projects being launched in the energy sector. Companies with cost and technological advantages in electrolyzer production, as well as those benefiting from hydrogen infrastructure construction, are recommended for attention [2]. Company Highlights - Aiko Solar reported a net profit of -238 million CNY for the first half of 2025, while Huaming Equipment achieved a net profit of 368 million CNY, a year-on-year increase of 17.17% [5]. - Hewei Electric reported a net profit of 242 million CNY for the first half of 2025, up 56.79% year-on-year [5]. - Xianhui Technology signed contracts worth approximately 702 million CNY with CATL and its subsidiaries [5].

Investment Rating - The industry investment rating is "Outperform the Market" [1][36]. Core Insights - The report highlights a significant increase in lithium carbonate prices, which is expected to enhance profitability in related sectors, particularly in battery and cathode materials [1][24]. - The report anticipates a gradual recovery in domestic new energy vehicle sales starting from August, driven by the release of subsidy funds, with a forecast of high growth in 2025 [1][24]. - The photovoltaic sector is undergoing a "de-involution" process, with government policies aimed at regulating low-price competition and promoting product quality [1][24]. - The hydrogen energy sector is being supported by continuous policy initiatives, with a focus on companies that have cost and technological advantages in electrolyzer production and hydrogen infrastructure [1][24]. Summary by Sections Market Overview - The electric equipment and new energy sector saw a 1.94% increase this week, with wind power leading at 4.05% and photovoltaic at 1.26% [10][13]. - The lithium battery index rose by 2.72%, reflecting ongoing price adjustments in the lithium market [10][13]. New Energy Vehicles - In July 2025, new energy vehicle retail sales reached 987,000 units, a year-on-year increase of 22.3% but a month-on-month decrease of 3.3% [24]. - The penetration rate of new energy vehicles in the overall passenger car market reached 54.0%, up 2.7 percentage points from the previous year [24]. Lithium Market - The price of battery-grade lithium carbonate reached 71,961 yuan per ton on August 8, marking a month-on-month increase of 1,012 yuan per ton [24]. - The report notes that the price of lithium carbonate has been influenced by potential production halts in Jiangxi lithium mines [24]. Photovoltaic Sector - The report indicates that the price of silicon materials remains stable, with mainstream prices for dense materials around 49-55 yuan per kilogram [15]. - The photovoltaic sector is expected to see an increase in production in August, particularly in polysilicon and other segments [24]. Hydrogen Energy - The National Energy Administration has announced pilot projects for green liquid fuel technology, including green methanol and ammonia [24]. - The report suggests focusing on companies with cost and technological advantages in the hydrogen energy sector [1][24]. Company Updates - Aisheng Co. reported a net loss of 238 million yuan for the first half of 2025, while Huaming Equipment achieved a net profit of 368 million yuan, a year-on-year increase of 17.17% [26]. - Hewa Electric reported a net profit of 242 million yuan, up 56.79% year-on-year [26].