Core Viewpoint - The report highlights the continuous growth and optimization of the supply-demand structure in the Chinese electric vehicle (EV) industry, supported by favorable policies and strong market demand [2][3]. Industry Performance - In December, China's monthly production and sales of new energy vehicles reached 1.718 million and 1.71 million units, respectively, marking year-on-year increases of 12.3% and 7.2% [2][3]. - For the entire year of 2025, cumulative production and sales are projected to reach 16.626 million and 16.49 million units, reflecting year-on-year growth of 29% and 28.2% [2][3]. - New energy vehicle sales are expected to account for 47.9% of total new car sales in the market [2][3]. Supply and Demand Dynamics - The supply side is characterized by the continuous introduction of new products from battery and main engine manufacturers, with positive feedback from demand [2][3]. - The industry has experienced significant price declines, leading to reduced capital expenditures, while the supply-demand balance is improving [2][3]. - The industry is actively optimizing capacity and supply, aiming to stabilize prices and ensure profitability for enterprises [2][3]. Price Trends - The report indicates that the prices within the industry are at a bottom level and are beginning to stabilize and recover [2][3]. - Strong demand and tight supply for certain materials, such as lithium carbonate and lithium iron phosphate, are leading to price increases [2][3]. Investment Strategy - The report maintains a "recommended" rating for the new energy vehicle industry, emphasizing the selection of companies that are expected to deliver excess returns [3]. - Focus areas for investment include robotics, solid-state batteries, battery materials, and liquid cooling technologies [3][4]. Industry Dynamics - Recent price movements in the supply chain include lithium carbonate prices rising to 157,900 CNY/ton, an increase of 12.7% from the previous week [6]. - The Ministry of Industry and Information Technology plans to accelerate breakthroughs in solid-state battery technology by 2026 [7].

Core Insights - The report highlights the continuous optimization of the supply-demand structure in the new energy vehicle (NEV) industry, supported by favorable policies and strong demand feedback, leading to a recovery in prices across the industry chain [3][4] - The report maintains a "recommended" rating for the NEV industry, emphasizing the potential for excess returns in sectors such as solid-state batteries, autonomous driving, and battery materials [4] - The lithium price has seen significant increases, with carbonate lithium and hydroxide lithium prices rising by 12.7% and 12.8% respectively, indicating a bullish trend in the industry [5][34] Market Tracking - In December, China's NEV production and sales reached 1.718 million and 1.71 million units respectively, marking year-on-year increases of 12.3% and 7.2% [3][49] - The NEV market accounted for 47.9% of total new car sales in 2025, reflecting a 7 percentage point increase from the previous year [3][49] - The report notes that the NEV index, lithium battery index, and charging pile index have shown positive growth, with respective weekly increases of 1.29%, 1.50%, and 3.16% [5][22] Lithium Battery Industry Price Tracking - The report details that lithium carbonate prices have increased to 157,900 CNY/ton, while lithium hydroxide prices reached 148,900 CNY/ton, both reflecting significant weekly increases [34][37] - The price of phosphoric iron lithium has risen to 52,400 CNY/ton, up 11.3% from the previous week, indicating strong demand in this segment [34][37] - The report also notes stable prices for aluminum-plastic films and separators, with no significant changes observed [37] Industry Dynamics - The report mentions that the Ministry of Industry and Information Technology aims to accelerate breakthroughs in solid-state battery technology and autonomous driving by 2026 [6][67] - Key developments include the launch of L3-level autonomous driving trials by BAIC New Energy and a partnership between Yuanrong Qixing and an international OEM for L3-level technology [6][67] - The report emphasizes the importance of enhancing the self-controllable capabilities of the supply chain and accelerating the development of key technologies in the NEV sector [67] Key Company Announcements - Haopeng Technology forecasts a revenue of 5.7 to 6 billion CNY for 2025, with a net profit increase of 113.69% to 141.09% [71] - The company plans to invest approximately 1.2 billion CNY in solid-state battery production, aiming to capitalize on the growth opportunities in the sector [72] - The report highlights a significant procurement agreement between Rongbai Technology and CATL for the supply of phosphoric iron lithium materials, valued at over 120 billion CNY [72]

Group 1 - The core point of the article is that Zhuhai Anhao, a shareholder of Haopeng Technology, has completed a share reduction plan, selling a total of 314,911 shares, which represents 0.32% of the company's total share capital [1] - The share reduction was executed through centralized bidding, with 2,200 shares sold on January 7 and 312,711 shares sold on January 15-16 [1] - After the reduction, Zhuhai Anhao's holdings decreased to 2,085,089 shares, accounting for 2.09% of the total share capital [1] Group 2 - The share reduction will not lead to a change in the company's control and will not affect the company's ongoing operations [1]

证券代码：001283 证券简称：豪鹏科技 公告编号：2026-009 深圳市豪鹏科技股份有限公司 关于股东股份减持计划实施完成的公告 股东珠海安豪科技合伙企业（有限合伙）保证向本公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 深圳市豪鹏科技股份有限公司（以下简称"公司"）于 2025 年 11 月 29 日 在巨潮资讯网（www.cninfo.com.cn）披露了《豪鹏科技：关于股东减持股份的预 披露公告》（公告编号：2025-109），股东珠海安豪科技合伙企业（有限合伙） （以下简称"珠海安豪"）持有公司股份 2,400,000 股（占公司总股本 99,943,067 股的 2.40%，占剔除公司回购专用证券账户中股份数量后总股本 99,123,511 股的 2.42%），计划自前述公告披露之日起十五个交易日后的三个月内以集中竞价交 易或大宗交易方式合计减持不超过 315,000 股股份（占公司总股本 99,943,067 股的 0.32%，占剔除公司回购专用证券账户中股份数量后总股本 99,123,511 ...

Group 1 - Haopeng Technology announced that it will accept investor research on January 16, 2026, from 16:00 to 17:00, with participation from the company's director, board secretary Chen Ping, and CFO Qin Runqiong [1] Group 2 - Silver prices have surged over 80% in the last 50 days, indicating a level of speculation that surpasses that of gold, suggesting a potential peak in the precious metals bull market [1]

Core Viewpoint - The company has made a strategic decision to focus on energy storage cells based on two decades of technology accumulation, targeting high-reliability segments such as residential energy storage, commercial energy storage, communication base stations, and AIDC [1] Group 1 - The company anticipates significant revenue growth in its energy storage cell business by 2025, following product refinement and market expansion in 2024 [1] - The company has laid the groundwork for further expansion into overseas markets [1] - The company has planned capacity expansion to support the sustainable development of this business [1]

Core Viewpoint - The company has achieved a comprehensive layout in its AI business, with AIPC becoming a major revenue pillar, providing high energy density batteries to top PC clients to meet endurance demands [1] Group 1: AI Business Development - The company is expanding its AI business across various scenarios, including AI glasses, MR devices, robots, and backup power solutions for data centers, which are being shipped out rapidly despite a small base [1] - The growth of these end-side energy solutions is expected to become a core incremental revenue source in the future [1] Group 2: Revenue and Profitability Outlook - The company anticipates a significant increase in the revenue share from high-value-added AI end-side businesses over the next few years, aiming to optimize its profit model and drive value reassessment [1]

Group 1: Export Tax Policy Impact - The company's export ratio is 50%, and the recent adjustment of the lithium battery export tax from 9% to 6% will be managed through a dual strategy: communication with customers and leveraging the Vietnam production base [2][3] - The adjustment is seen as a "supply-side reform" that will accelerate industry reshuffling, pushing resources towards companies with technological leadership and cost control capabilities [2] Group 2: AI Business Strategy - The company’s "All in AI" strategy has shown significant results, with AI-related business planning for 2026 focusing on AIPC, wearable devices, and robotics [3][4] - AI PC products are a key revenue contributor, and the company aims to enhance the revenue share of high-value AI end-side businesses in the coming years [4] Group 3: Market Positioning and Product Focus - The company is focusing on high-end mobile power products in response to increasing market safety standards, collaborating with major brands to enhance product safety [4][5] - The company has strategically isolated itself from the low-end market affected by rising storage component prices, maintaining a focus on mid-to-high-end markets [6] Group 4: Financial Projections and Growth Strategy - The company aims for sustainable profitability through a focus on high-quality growth, optimizing customer and product structures to enhance gross margins [4][5] - The storage battery business is expected to see significant growth, with revenue projected to increase several times by 2025, supported by planned capacity expansion [5][6] Group 5: Competitive Differentiation - The company has a 20-year foundation in battery cell technology, allowing it to differentiate itself in the energy storage market, which has diverse applications and high reliability demands [5][6] - The focus on new technology fields and building technical barriers will help the company transcend traditional cost competition [6][7]

Core Insights - Haopeng Technology has successfully penetrated multiple leading AI toy brands with its customized battery solutions for AI toys and companion robots, achieving mass production in the tens of millions [1] Group 1 - The company announced a significant breakthrough in the emerging smart hardware sector under its "All in AI" strategic guidance [1]

Core Viewpoint - The company has recently completed a strategic investment in Zhishen Technology, marking a significant step in its "All-in-AI" core strategy and transitioning from a core component supplier to an ecosystem builder in the advanced battery sector [1] Group 1: Strategic Investment - The company has made a strategic investment in Zhishen Technology, with the specific shareholding ratio to be confirmed through Zhishen Technology's public business information [1] - This investment aims to leverage the company's deep expertise in high energy density batteries and advanced battery modules alongside Zhishen Technology's leading technological advantages [1] Group 2: Strategic Goals - The investment is a crucial move in the company's "All-in-AI" core strategy, focusing on key areas of innovation and application of cutting-edge intelligent technologies [1] - The collaboration is intended to promote innovation and large-scale application of frontier intelligent technologies [1]