Group 1 - The energy storage sector has seen a significant surge, with companies like Haibo Sichuang and Shangneng Electric hitting the daily limit up, while others like Chunxing Precision and Tongrun Equipment also reached their limits [1] - The energy storage market is experiencing a supply-demand reversal, with companies such as CATL and EVE Energy operating at full capacity despite a previously oversupplied market [1] - In the first half of 2025, global energy storage cell shipments are expected to reach 226 GWh, marking a 97% year-on-year increase, with Chinese companies accounting for over 90% of the global market share [1] Group 2 - Chinese companies have secured a record number of overseas energy storage orders, with 199 new orders totaling over 160 GWh in the first half of the year, representing a 220.28% year-on-year increase [2] - The Middle East has emerged as the fastest-growing market for energy storage, with significant orders from regions like Australia and Europe also contributing to the growth [2] - The Chinese government has implemented policies to promote the marketization of energy pricing, which is expected to enhance the profitability of the energy storage sector [2] Group 3 - In the first half of 2025, China's new energy storage installed capacity reached 42.6 GWh, a 27.5% increase year-on-year, while global battery storage systems installed capacity reached 86.7 GWh, a 54% increase [3] - Emerging markets such as the Middle East, Southeast Asia, and Latin America are expected to see a significant rise in energy storage demand due to power shortages and supportive government policies [3] - Notable companies in the energy storage sector include CATL, which is a global leader in power batteries, and Sungrow Power Supply, which offers comprehensive energy storage solutions [3][4]

9月3日，储能概念盘中逆势走强，上能电气、阳光电源涨超10%，派能科技、锦浪科技、南都电源、昱能科技等跟涨。 【板块涨停个股】 通润装备（维权）(002150)，涨停价：14.4元/股，市盈率：26.88，总市值：52.31亿。 9月3日，A股市场整体呈现调整态势，主要指数多数收跌，但储能板块却展现出较强的抗跌性，呈现逆势分化格局。截 至发稿，通润装备涨停，总市值达52.31亿元；上能电气、阳光电源涨超10%，派能科技、锦浪科技、南都电源、昱能 科技等跟涨。 作为国内钣金制品与光储设备双主业驱动的上市公司，通润装备近年来通过资本运作与业务转型，在新能源储能领域逐 步构建起差异化竞争优势。在储能领域的具体布局上，通润装备借助正泰电源的技术积累，构建了从核心部件到系统集 成的完整能力。公司储能产品涵盖光储逆变器、储能系统等，尤其在工商业储能和户用储能领域形成了差异化优势，其 研发的高安全长寿命储能电池管理系统已应用于多个海外项目。 生产端方面，公司通过精密钣金制造能力与储能设备生产的协同，有效降低了制造成本，这也是其毛利率能维持在30% 以上的重要原因。公司目前形成了钣金制品与光储设备并行的双主业格局，其中202 ...

Group 1 - The energy storage sector experienced a strong rebound on September 3, with several companies reaching their daily price limits [1] - Notable performers included Tongrun Equipment and Baoxin Technology, which both hit the upper limit, while Haibo Sichuang, Yiwei Lithium Energy, Sunshine Power, and Shangneng Electric all surged over 10% [1] - Other companies such as Chunxing Precision and Shijia Technology also saw significant gains, indicating a broader positive trend in the energy storage market [1] Group 2 - Specific stock performance data showed Haibo Sichuang rising by 16.69% to 144.00, while Sunshine Power increased by 12.90% to 112.50 [2] - Yiwei Lithium Energy and Shangneng Electric also reported increases of 12.83% and 12.08%, respectively, highlighting strong investor interest [2] - Additional companies like Chunxing Precision and Tongrun Equipment saw gains of 10.10% and 10.01%, respectively, further emphasizing the sector's upward momentum [2]

Investment Rating - The investment rating for the company is "Buy" and it is maintained [6]. Core Views - The company reported a revenue of 1.709 billion yuan for H1 2025, representing a year-on-year growth of 6.33%. The net profit attributable to the parent company was 97 million yuan, up 26.32% year-on-year. In Q2 2025, the revenue was 901 million yuan, showing a year-on-year decline of 2.34% but a quarter-on-quarter increase of 11.58%. The net profit for Q2 was 79 million yuan, reflecting a year-on-year growth of 27.96% and a significant quarter-on-quarter increase of 331.33% [2][4]. Financial Performance - For H1 2025, the company's revenue from solar storage inverters was 930 million yuan, growing by 7% year-on-year, while revenue from energy storage products surged by 149% year-on-year to 120 million yuan. The gross margin for solar storage inverters was 33.1%, up 2.5 percentage points year-on-year, while the gross margin for energy storage products was 28.1%, down 14.9 percentage points year-on-year [8]. - The metal products business generated a revenue of 650 million yuan in H1 2025, down 5% year-on-year, with a gross margin of 25.7%, a decrease of 2.6 percentage points year-on-year. The company is gradually relocating metal product production capacity to Thailand to enhance profitability [8]. - The company’s operating expense ratio for Q2 2025 was 19.1%, down 2.1 percentage points quarter-on-quarter, indicating improved operational efficiency. The inventory at the end of Q2 was 1.32 billion yuan, reflecting a 1.5% quarter-on-quarter increase and a historical high [8]. Market Outlook - The company aims to consolidate its advantages in the North American and Japanese markets while expanding into Europe, Asia, Africa, and Latin America. The North American market is expected to benefit from the company's production capacity in Thailand, which will help mitigate tariff impacts. In Europe, the company plans to leverage its product advantages and synergies with the Chint Group to expand its market presence [8]. - The company forecasts profits of 300 million yuan and 400 million yuan for 2025 and 2026, respectively, corresponding to price-to-earnings ratios of 15 and 11 times [8].

Core Viewpoint - Tongrun Equipment (002150) reported a significant increase in net profit and revenue for the first half of 2025, indicating strong business performance in the photovoltaic and energy storage sectors [1] Financial Performance - In the first half of 2025, Tongrun Equipment achieved a net profit attributable to shareholders of approximately 97.31 million yuan, representing a year-on-year growth of 26.32% [1] - The company recorded an operating revenue of about 1.709 billion yuan, which is a year-on-year increase of 6.33% [1] Business Overview - Tongrun Equipment primarily engages in the research, development, production, and sales of photovoltaic energy storage equipment, components, and metal products [1] - The company has established a dual business model driven by photovoltaic inverters and energy storage systems, along with metal products [1]

据证券之星公开数据整理，近期通润装备（002150）发布2025年中报。截至本报告期末，公司营业总收 入17.09亿元，同比上升6.33%，归母净利润9731.17万元，同比上升26.32%。按单季度数据看，第二季 度营业总收入9.01亿元，同比下降2.34%，第二季度归母净利润7899.71万元，同比上升27.96%。本报告 期通润装备公司应收账款体量较大，当期应收账款占最新年报归母净利润比达414.09%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率30.07%，同比减0.07%，净利率7.28%，同比增 10.64%，销售费用、管理费用、财务费用总计2.65亿元，三费占营收比15.54%，同比增4.67%，每股净 资产5.45元，同比增15.71%，每股经营性现金流-0.11元，同比减194.59%，每股收益0.27元，同比增 22.73% 销售费用变动幅度为23.19%,原因:本期业务增长。 财务报表中对有大幅变动的财务项目的原因说明如下： 货币资金变动幅度为-15.84%,原因:本期支付货款及分红。 存货变动幅度为4.43%,原因:本期业务增长。 固定资产变动幅度为38.89%,原因:本期在建 ...

Group 1 - The core viewpoint of the article is that Tongrun Equipment (002150.SZ) has reported its semi-annual results for 2025, highlighting the institutional investor holdings and changes in ownership structure [1] Group 2 - As of August 25, 2025, a total of 7 institutional investors disclosed holdings in Tongrun Equipment A-shares, with a combined holding of 197 million shares, accounting for 54.32% of the total share capital [1] - The institutional investors include Zhejiang Chint Electrics Co., Ltd., Changshu City Jack Factory, Zhuhai Yuening Management Consulting Partnership, Wenzhou Zhuotai Enterprise Management Partnership, Zhuhai Kangdong Equity Investment Partnership, Suzhou Great Wall Precision Technology Co., Ltd., and Xinyu New Concept Investment Management Co., Ltd. [1] - Compared to the previous quarter, the total institutional holding percentage decreased by 1.49 percentage points [1] - Regarding foreign investment, there were no new disclosures from foreign institutions this period, including Hong Kong Central Clearing Limited [1]

证券代码：002150 证券简称：通润装备 公告编号：2025-037 江苏通润装备科技股份有限公司 关于 2023 年限制性股票激励计划首次授予第二个解除限售 期及预留授予第一个解除限售期解除限售条件未成就 暨调整回购价格并回购注销部分限制性股票的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏通润装备科技股份有限公司（以下简称"公司"）于 2025 年 8 月 22 日召开第八届董事会第二十三次会议和第八届监事会第二十次会议，审议通过了 《关于 2023 年限制性股票激励计划首次授予第二个解除限售期及预留授予第一 个解除限售期解除限售条件未成就暨调整回购价格并回购注销部分限制性股票 的议案》，该事项尚需提交公司股东大会审议。根据《上市公司股权激励管理办 法》（以下简称"《管理办法》"）等法律法规、规范性文件及公司《2023 年 限制性股票激励计划（草案）》（以下简称"《激励计划》"）的有关规定，鉴 于激励对象离职和解除限售条件未成就，公司拟对 2023 年限制性股票激励计划 （以下简称"本激励计划"）首次授予和预留授予的 3 名离职激励对象和未达 ...

证券代码：002150 证券简称：通润装备 公告编号：2025-035 江苏通润装备科技股份有限公司 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 江苏通润装备科技股份有限公司（以下简称"公司"）第八届监事会第二十 次会议于 2025 年 8 月 8 日以电子邮件方式发出通知，于 2025 年 8 月 22 日以通 讯方式召开。本次会议应出席监事 3 名，实际出席监事 3 名，会议由监事会主席 徐志武先生主持。会议的召集、召开和表决程序符合《中华人民共和国公司法》 等相关法律法规、部门规章、规范性文件及《江苏通润装备科技股份有限公司章 程》的规定。 二、监事会会议审议情况 出席会议的监事审议并以记名投票的方式表决通过了以下议案： （一）审议通过《关于 2025 年半年度报告及其摘要的议案》； 表决结果：3 票同意、0 票反对、0 票弃权，表决通过。 经审核，监事会认为：董事会编制和审核公司 2025 年半年度报告及摘要的 程序符合法律、行政法规和中国证券监督管理委员会的规定，报告内容真实、准 确、完整地反映了公司的实际情况，不存在任何 ...

江苏通润装备科技股份有限公司 证券代码：002150 证券简称：通润装备 公告编号：2025-041 关于召开 2025 年第一次临时股东大会的通知 现场会议召开时间：2025 年 9 月 10 日（星期三）下午 14:00 网络投票时间为：通过深圳证券交易所（以下简称"深交所"）交易系统进 行网络投票的具体时间为 2025 年 9 月 10 日上午 9:15-9:25，9:30-11:30、下午 至当日下午 15:00 期间的任意时间。 召开。 （1）在股权登记日持有公司股份的普通股股东或其代理人； 于股权登记日下午收市时在中国证券登记结算有限责任公司深圳分公司登 记在册的公司全体普通股股东均有权出席股东大会，并可以以书面形式委托代理 人出席会议和参加表决，该股东代理人不必是本公司股东。 （2）公司董事、监事和高级管理人员； 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏通润装备科技股份有限公司（以下简称"公司"）于 2025 年 8 月 22 日召开第八届董事会第二十三次会议，审议通过了《关于召开 2025 年第一次临 时股东大会的议案》。现将相关事 ...