Core Viewpoint - The A-share market is experiencing a strong performance in robotics concept stocks, with several companies showing significant gains in their stock prices [1] Company Performance - Xidi has seen a rise of over 15% - Lixing shares increased by nearly 15% - Changying Precision rose by over 13% - Bukexin shares grew by nearly 12% - Haon Automotive Electric increased by over 10% - Several companies, including Galaxy Electronics, Jinzhi Technology, Youa Shares, Sichuan Jinding, GAC Group, and Yuhuan CNC, reached the 10% daily limit increase - Haichang New Materials rose by over 8% - Fenglong shares and Huazi Technology increased by over 7% - Bozhong Precision, Jingzhida, Xinmeixing, Meihu Shares, and Haozhi Electromechanical rose by over 6% - Jingsong Intelligent and Zhongrun Optics increased by over 5% - Jiangbolong rose by over 3% [1]

Investment Rating - The investment rating for the company is "Buy (First Coverage)" [3] Core Views - The company is positioned to benefit from the AI hardware-driven innovation in battery technology, with strong growth engines initiated [1] - The integration of battery cells and packs, along with competitive advantages in wearable technology and strategic customer resources, shapes the core competitiveness of the company [2] - The company is focusing on the mainstream consumer sector, leveraging its one-stop service advantages in lithium-ion and nickel-hydride products to meet the evolving demands of global brand clients [2][4] - The company has established a differentiated competitive advantage in the AI sector, with its AI-related business expected to continue growing as AI penetration increases in various consumer electronics [4][6] Summary by Sections Financial Data and Valuation - Projected revenues for 2025 to 2027 are expected to be 60.41 billion, 70.77 billion, and 81.25 billion yuan, with growth rates of 18.2%, 17.2%, and 14.8% respectively [6][7] - The net profit attributable to shareholders is forecasted to be 2.41 billion, 3.62 billion, and 4.57 billion yuan for the same period, with growth rates of 164.3%, 49.9%, and 26.4% respectively [6][7] - The company’s P/E ratios are projected to be 27.4, 18.3, and 14.4 for 2025, 2026, and 2027 respectively [6][7] Market Dynamics - The global lithium-ion battery market is expected to see significant growth, with a projected total shipment volume of 1,899.3 GWh by 2025 and 5,127.3 GWh by 2030 [14][16] - The demand for consumer electronics, particularly AI PCs and smartphones, is anticipated to drive battery demand, with AI PC shipments expected to reach 1.54 million units in Q4 2024 [17][22] - The wearable product market, including TWS earbuds and smart glasses, is also expected to grow, with AI glasses projected to see a 135% increase in sales from 2024 to 2025 [30][34] Technological Innovations - The company is focusing on technological upgrades and product innovations, particularly in solid-state batteries and high-silicon anodes, which are expected to enhance battery safety and energy density [5][6] - The integration of AI technology into battery products is reshaping the company's profitability model, with a higher willingness from clients to pay for breakthrough solutions [2][5] - The company has successfully developed semi-solid batteries with a volumetric energy density of 950 Wh/L and is advancing solid-state battery technology [5][6]

Core Viewpoint - Haopeng Technology's stock increased by 5.04% on November 27, reaching a price of 69.37 CNY per share, with a trading volume of 163 million CNY and a turnover rate of 3.00%, resulting in a total market capitalization of 6.933 billion CNY [1] Company Overview - Shenzhen Haopeng Technology Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on October 8, 2002, with its listing date on September 5, 2022 [1] - The company's main business involves the research, design, manufacturing, and sales of lithium-ion batteries and nickel-hydrogen batteries [1] - Revenue composition includes 88.37% from consumer application scenario new energy solutions, 9.12% from energy storage application scenario new energy solutions, and 2.51% from other sources [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under China Construction Bank, the Jianxin Minfeng Return Regular Open Mixed Fund (004413), holds shares in Haopeng Technology [2] - As of the third quarter, the fund held 1,400 shares of Haopeng Technology, accounting for 0.19% of the fund's net value, ranking as the ninth largest holding [2] - The fund has generated an estimated floating profit of approximately 4,662 CNY today [2] Fund Manager Performance - The fund manager of Jianxin Minfeng Return Regular Open Mixed Fund is Zhao Yunyu, who has been in the position for 7 years and 14 days, managing total assets of 1.574 billion CNY, with the best fund return during his tenure being 173.01% and the worst being -21.9% [3] - Co-manager Zhang Yilin has been in the role for 2 years and 329 days, managing total assets of 872 million CNY, with the best return of 24.34% and the worst of -4.44% during his tenure [3]

Core Viewpoint - The China Securities 2000 Enhanced ETF (159552) opened with a gain of 0.47%, priced at 1.934 yuan, indicating positive market sentiment towards this fund [1] Group 1: ETF Performance - The China Securities 2000 Enhanced ETF (159552) has a performance benchmark based on the China Securities 2000 Index return [1] - Since its establishment on June 19, 2024, the fund has achieved a return of 92.92% [1] - Over the past month, the fund has experienced a return of -4.26% [1] Group 2: Top Holdings - Key holdings in the ETF include: - Haopeng Technology, which opened with a gain of 0.53% [1] - Asia-Pacific Shares, which increased by 0.08% [1] - Fuchun Environmental, which rose by 0.41% [1] - Fosda, which gained 0.69% [1] - Hailide, which increased by 0.55% [1] - Junya Technology, which saw a rise of 0.08% [1] - StarNet Ruijie, which increased by 0.80% [1] - New Asia Electronics, which rose by 0.61% [1] - Focus Technology, which decreased by 0.08% [1] - Spring Autumn Electronics, which fell by 0.06% [1]

Group 1 - GAC Group has officially completed and put into production a pilot line for all-solid-state batteries in Guangzhou, which is the first in the industry to achieve mass production conditions for automotive-grade all-solid-state batteries with a capacity of over 60Ah [1] - The energy density of the newly developed all-solid-state batteries is nearly double that of existing batteries, enabling vehicles with a range of over 500 kilometers to potentially exceed 1000 kilometers [1] - GAC Group plans to conduct small batch vehicle trials in 2026 and gradually achieve mass production between 2027 and 2030 [1] Group 2 - Solid-state battery concept stocks have seen an average increase of 60.91% this year, with several stocks, including Haike New Source and Shanghai Xiba, rising over 100% [2] - Haike New Source's stock has surged by 314.68% this year, and the company has signed a strategic cooperation agreement with Kunlun New Material for the purchase of 59.62 thousand tons of electrolyte solvent [2] - Rongbai Technology plans to establish a 6000-ton pilot line in Xiantao by 2025 to validate new processes and equipment, with a goal to start production in North America and Europe by 2029 [2] Group 3 - Haopeng Technology has received attention from 23 institutions, and its BBU battery business is expected to continue growing due to increasing demand for AI computing and high-end backup power supplies [3] - Among solid-state battery concept stocks, 10 stocks are expected to see over 20% growth in net profit for 2025 and 2026, including companies like Enjie and Putailai [3] Group 4 - A table summarizes the market capitalization, number of rating agencies, and projected net profit growth rates for various solid-state battery concept stocks, indicating strong growth expectations for companies like CATL and Xiamen Tungsten [4]

Core Insights - The report maintains a positive outlook on the lithium battery industry, highlighting strong demand and the continuous growth of high-quality companies within the supply chain [3][4][77] - In October, China's new energy vehicle production and sales reached 1.772 million and 1.715 million units respectively, marking year-on-year increases of 21.1% and 20% [3][48] - The report indicates that the supply side is seeing a reduction in capital expenditure from some companies, leading to an improved supply-demand structure [4][77] Market Performance - The report notes that the new energy vehicle index, lithium battery index, and other related indices experienced declines, with the lithium battery index down by 10.99% this week [5][21] - Despite the overall market downturn, certain companies like 深中华A and 盛新锂能 showed significant gains, with increases of 32.2% and 12.2% respectively [5][25] Price Trends - Lithium carbonate prices increased to 92,400 CNY/ton, up 8.4% from the previous week, while lithium hydroxide rose to 81,300 CNY/ton, up 6.3% [5][33] - The report highlights that the prices of key materials such as lithium hexafluorophosphate and lithium iron phosphate have also seen significant increases, indicating a recovery in the price levels across the supply chain [4][30] Industry Dynamics - The report discusses the ongoing challenges in the lithium iron phosphate sector, including price wars and overall industry losses, prompting regulatory measures to stabilize pricing [66] - It also mentions advancements in autonomous driving technology, with companies like 广汽 and 华为 making significant strides in L3 autonomous driving capabilities [67][68] Key Companies and Investment Strategy - The report recommends focusing on high-quality companies within the lithium battery supply chain, including 宁德时代 and 尚太科技, which are expected to deliver excess returns [4][77] - The investment strategy emphasizes the importance of companies that are well-positioned to benefit from the recovery in material prices and the growing demand for new energy vehicles [4][77]

Core Viewpoint - The Zhongzheng 2000 Enhanced ETF (159552) opened with a decline of 0.86%, priced at 1.950 yuan, indicating a downward trend in the market performance of this fund [1] Group 1: Fund Performance - The Zhongzheng 2000 Enhanced ETF (159552) has a performance benchmark based on the Zhongzheng 2000 Index return [1] - Since its establishment on June 19, 2024, the fund has achieved a return of 96.73% [1] - The fund's return over the past month is reported at 0.35% [1] Group 2: Major Holdings - Key stocks in the fund's portfolio include: - Haopeng Technology, down 1.51% - Yatai Shares, down 0.17% - Fuchun Environmental Protection, down 0.39% - Fostar, down 0.47% - Spring Autumn Electronics, down 2.00% - Hailide, down 0.52% - Junya Technology, down 0.33% - StarNet Ruijie, down 1.27% - New Asia Electronics, down 0.78% - Focus Technology, down 0.32% [1]

证券代码：001283 证券简称：豪鹏科技 深圳市豪鹏科技股份有限公司 投资者关系活动记录表 编号：2025-011 投资者关系 活动类别 □特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他（） 参与单位名称 投资者网上提问 时间 2025 年 11 月 20 日 (周四) 下午 14:30~17:00 地点 公 司 通 过 全 景 网 " 投 资 者 关 系 互 动 平 台 " （https://ir.p5w.net）采用网络远程的方式召开业绩说明 会 上市公司接待 人员姓名 1、董事长、总经理：潘党育 2、董事、副总经理：廖兴群 3、董事、董事会秘书：陈萍 4、财务总监：覃润琼 5、独立董事：华金秋 投资者关系活动 主要内容介绍 投资者主要问题： 1. 请问公司明年在资本市场上有什么规划，公司的净利 润率水平能否稳中有升？ 尊敬的投资者，您好！公司在资本市场的规划，核心是 紧紧围绕公司的业务发展战略——即"All in AI，成为端侧 能源引领者"，通过持续的技术创新与全球头部品牌客户深 耕，不断提升公司内在价值和市场认可度。关于净利润率水 平， ...

Core Viewpoint - The China Securities 2000 Enhanced ETF (159552) experienced a decline of 1.18% as of the midday close on November 18, with a trading volume of 30.6341 million yuan [1] Group 1: ETF Performance - The China Securities 2000 Enhanced ETF (159552) closed at 2.011 yuan, with a year-to-date return of 103.45% since its inception on June 19, 2024 [1] - The ETF's one-month return stands at 5.62% [1] Group 2: Top Holdings Performance - Among the top holdings, Haopeng Technology fell by 2.01%, Asia-Pacific Shares decreased by 1.78%, and Fuchun Environmental dropped by 3.35% [1] - Conversely, Fostar increased by 0.82%, and Chunyue Electronics saw a slight rise of 0.07% [1] - Other notable movements include Hailide's decline of 2.45%, Junya Technology's increase of 0.32%, and StarNet's rise of 1.23% [1] - Jiao Dian Technology experienced a significant gain of 3.73% [1]

Group 1 - The core point of the article is that Haopeng Technology will participate in an investor online reception day event to enhance communication with investors [2] - The event is organized by the Shenzhen Securities Regulatory Bureau and the China Securities Small and Medium Investors Service Center, in collaboration with the Shenzhen Stock Exchange Association and Shenzhen Panorama Network Co., Ltd. [2] - The scheduled date for the event is November 20, 2025 [2]