Core Viewpoint - Despite the ongoing downturn in the lithium battery market, EVE Energy has shown relatively stable performance, although it does not stand out compared to industry leaders CATL and BYD [1] Financial Performance - In 2024, EVE Energy reported revenue of 48.615 billion yuan, a year-on-year decrease of 0.35%, and a net profit of 4.076 billion yuan, a year-on-year increase of 0.63% [2] - In Q1 2025, EVE Energy achieved revenue of 12.796 billion yuan and a net profit of 818 million yuan, representing a year-on-year growth of 16.6% [2] - The company's battery shipment volume increased significantly, with a nearly 60% growth in power batteries and nearly 80% growth in energy storage batteries in Q1 [2] Business Segmentation - EVE Energy's lithium battery revenue is divided into power batteries (39.43%), energy storage batteries (39.14%), and consumer batteries (21.23%) [3] - The energy storage battery segment has been rapidly increasing its revenue share, potentially surpassing power batteries this year [3] - The gross margin for power batteries remained around 14%, despite a 20% year-on-year revenue decline [3] Market Position and Competition - CATL and BYD dominate the domestic power battery market, holding nearly 70% of the market share, leaving EVE Energy and other manufacturers to compete for the remaining share [4] - EVE Energy aims to reduce reliance on a few major clients by diversifying its customer base and offering differentiated products and services [4] Growth Drivers - The energy storage business has emerged as a crucial growth engine for EVE Energy, helping to mitigate overall performance declines [5] - In 2024, EVE Energy's energy storage capacity is expected to reach approximately 50 GWh, with an additional 20 GWh projected for 2025 [6] - EVE Energy's energy storage shipment volume reached 50.45 GWh in 2024, with a year-on-year growth exceeding 90% [6] Technological Advancements - EVE Energy has made significant progress in solid-state battery technology, with plans to launch high-power solid-state batteries for hybrid applications by 2026 [6] - The company has also achieved notable research results in lithium metal secondary batteries, sodium-ion batteries, and hydrogen fuel cells [6]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 49.20 [7][8]. Core Views - The company has shown significant growth in energy storage shipments, with a strong performance in the consumer sector and expectations for profitability improvement in the power sector in 2025 [1][2]. - The company's Q1 2025 revenue reached RMB 12.796 billion, representing a year-on-year increase of 37.34% [1]. - The net profit attributable to the parent company for Q1 2025 was RMB 1.101 billion, exceeding previous expectations due to improved non-recurring gains [1][2]. Summary by Sections Energy Storage and Power Sector - In Q1 2025, the company shipped 10.17 GWh of power storage, a year-on-year increase of 58%, with a capacity utilization rate close to 70% [2][3]. - The company anticipates continued improvement in profitability in the power business throughout 2025, supported by the construction of a storage factory in Malaysia, which is expected to begin production in 2026 [3]. Consumer Sector - The company has maintained its leading position in lithium batteries, with monthly sales of small cylindrical batteries exceeding 10 million units [4]. - The Malaysian small cylindrical battery factory has commenced production, and the company expects a revenue growth rate of 20% in consumer batteries for 2025 [4]. Financial Projections - The company forecasts net profits attributable to the parent company of RMB 5.035 billion, RMB 6.727 billion, and RMB 7.939 billion for 2025, 2026, and 2027, respectively [4][6]. - The projected revenue for 2025 is RMB 72.494 billion, reflecting a growth rate of 49.12% compared to 2024 [6].

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-062 1、股东部分股份解除质押的基本情况 | 股东名称 | 是否为控股股东 或第一大股东及 其一致行动人 | 本次解除质押 数量（股） | 占其所持 股份比例 | 占公司总 股本比例 | 质押开始日 | 解除质押日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 刘金成 | 是 | 2,800,000 | 3.62% | 0.14% | 2024年1月31日 | 2025年4月24日 | 渤海国际信托股份有限公司 | | 亿纬控股 | 是 | 17,000,000 | 2.60% | 0.83% | 2023年4月24日 | 2025年4月24日 | 渤海国际信托股份有限公司 | 2、股东部分股份质押的基本情况 | 股东名称 | 是否为控 股股东或 第一大股 | 本次质押数 | 占其所持 | 占公司总 | 是否是 | 是否为补 | 质权人 | 质押开始日 | 质押到期日 | 用途 | | --- | --- | --- | --- | --- | --- | --- | - ...

| 证券代码：300014 | 证券简称：亿纬锂能 | 公告编号：2025-061 | | --- | --- | --- | | 债券代码：123254 | 转债简称：亿纬转债 | | 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。 特别提示： 1、截至 2025 年 4 月 25 日，惠州亿纬锂能股份有限公司（以下简称"公司"）股 票已出现连续三十个交易日中至少有十五个交易日的收盘价低于当期转股价格的 85% 的情形，已触发"亿纬转债"（债券代码：123254）转股价格向下修正条件。 2、公司于 2025 年 4 月 25 日召开第六届董事会第五十二次会议，审议通过了《关 于不向下修正亿纬转债转股价格的议案》，公司董事会决定本次不向下修正"亿纬转债" 的转股价格。同时自本次董事会审议通过次一交易日起未来 5 个月（2025 年 4 月 28 日 至 2025 年 9 月 27 日）内，如再次触发"亿纬转债"转股价格向下修正条款，亦不提 出向下修正方案。在此期间之后，若再次触发"亿纬转债"的转股价格向下修正条款， 届时公司董事会将再次召开会议决定是否行使"亿纬 ...

| 证券代码：300014 | 证券简称：亿纬锂能 | 公告编号：2025-060 | | --- | --- | --- | | 债券代码：123254 | 转债简称：亿纬转债 | | 惠州亿纬锂能股份有限公司 第六届董事会第五十二次会议决议公告 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。 惠州亿纬锂能股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日在广东省惠 州市仲恺高新区惠风七路 38 号亿纬锂能零号会议室采用通讯表决的方式召开第六届 董事会第五十二次会议。本次会议由董事长刘金成先生主持，应参加会议董事 7 名， 实际参加 7 名。本次会议的召开符合《公司章程》规定的法定人数。 会议的召集和召开符合《公司法》和《公司章程》的有关规定。经表决，形成以下 决议： 一、审议通过了《关于不向下修正亿纬转债转股价格的议案》 鉴于"亿纬转债"距离存续届满尚远，经综合考虑公司的基本情况、股价走势、市 场环境等多重因素，以及对公司的长期发展潜力与内在价值的信心，为维护全体投资 者的利益，同意本次不向下修正"亿纬转债"转股价格。同时自本次董事会审议通过 ...

Core Viewpoint - The company, EVE Energy Co., Ltd., reported strong financial performance in Q1 2025, driven by the booming global electric vehicle and energy storage markets, showcasing its leadership in the lithium battery sector through technological innovation and strategic focus [1][6]. Financial Performance - In Q1 2025, the company achieved revenue of 12.796 billion yuan, a year-on-year increase of 37.34% [1]. - The net profit attributable to shareholders, excluding non-recurring items, was 818 million yuan, reflecting a year-on-year growth of 16.60% [1]. Energy Storage Business - The company's energy storage battery shipments reached 12.67 GWh in Q1 2025, marking an impressive year-on-year growth of 80.54% [2]. - For the full year 2024, energy storage shipments totaled 50.45 GWh, a staggering increase of 91.90%, securing the position of the second-largest global supplier [2]. - The introduction of the Mr. Big series, a 600Ah+ ultra-large capacity cell with an energy efficiency of 96.20%, significantly enhanced product competitiveness [2]. Power Battery Business - In Q1 2025, the company shipped 10.17 GWh of power batteries, representing a year-on-year increase of 57.58% [3]. - The passenger vehicle segment showed strong performance, with significant sales growth driven by partnerships with leading electric vehicle manufacturers [3]. - The company maintained a 13.41% market share in the new energy commercial vehicle segment, ranking second in China [3]. Consumer Battery Business - The company continues to lead in the consumer battery sector, with significant shipments in emerging markets [3]. - It achieved over 2 billion shipments of electronic vaporizer batteries in 2024, maintaining its status as a national champion in several product categories [3]. Technological Innovation - The company emphasizes technological innovation as a core driver, launching the Mr. Big series and achieving breakthroughs in manufacturing processes [4]. - A state-of-the-art 60 GWh super energy storage factory has been established, utilizing over 80 advanced technologies for automated production [4]. - The company is also advancing in solid-state battery technology, with plans for mass production by 2026 [4]. Global Expansion - The company is accelerating its global expansion, with production facilities in Malaysia and Hungary set to enhance overseas delivery capabilities [5]. - It employs a vertical integration strategy to reduce costs and has initiated several international cooperation projects [5]. - The company’s nickel and lithium phosphate production projects ensure raw material control, supporting its global strategy [5]. Market Position and Future Outlook - EVE Energy demonstrates strong competitiveness and resilience in the global lithium battery market, with stable growth across energy storage, power, and consumer battery sectors [6]. - The company aims to accelerate the development of all-scenario lithium battery solutions to meet global energy demands and drive industry progress [6].

Group 1: Aier Eye Hospital - In 2024, Aier Eye Hospital achieved an outpatient volume of 16.94 million, a year-on-year increase of 12.14% [1] - The company reported a total revenue of 20.98 billion yuan, reflecting a growth of 3.02% compared to the previous year [2] - The net profit attributable to shareholders was 3.56 billion yuan, up by 5.87% year-on-year [2] - The company introduced several advanced medical technologies and products, including the INTENSITY™ intraocular lens and new dry eye treatment technology [1][3] Group 2: Tonghuashun - Tonghuashun reported a revenue of 4.19 billion yuan in 2024, marking a 17.47% increase from the previous year [5] - The net profit attributable to shareholders reached 1.82 billion yuan, a significant growth of 30% year-on-year [4][5] - The increase in revenue and profit was primarily driven by a recovery in the securities market and rising demand for financial information services [4] Group 3: Yiwei Lithium Energy - Yiwei Lithium Energy achieved a revenue of 1.28 billion yuan in Q1 2025, with a net profit of 110.11 million yuan, reflecting a 16.60% increase in net profit [7] - The company reported a significant increase in the shipment of energy storage batteries, with a year-on-year growth of 80.54% [8] - The company is expanding into emerging markets such as eVTOL and drones, with ongoing projects and production facilities being established [9] Group 4: Huadong Medicine - Huadong Medicine reported a revenue of 10.74 billion yuan in Q1 2025, a 3.12% increase year-on-year [10] - The net profit attributable to shareholders was 914.71 million yuan, up by 6.06% compared to the same period last year [11] - The company achieved its highest historical level of net profit excluding non-recurring gains and losses, reaching 897.34 million yuan [10] Group 5: Muyuan Foods - Muyuan Foods reported a revenue of 36.06 billion yuan in Q1 2025, a year-on-year increase of 37.26% [17] - The company turned a profit with a net profit of 44.91 billion yuan, compared to a loss of 23.79 billion yuan in the same period last year [18] - The significant growth was attributed to increased pig prices and sales [17] Group 6: China Aluminum - China Aluminum reported a revenue of 55.78 billion yuan in Q1 2025, with a net profit of 3.54 billion yuan, reflecting a year-on-year increase of 58.78% [21] - The company successfully managed market price fluctuations, resulting in increased product sales and profits [21] Group 7: Hengrui Medicine - Hengrui Medicine achieved a revenue of 72.06 billion yuan in Q1 2025, a 20.14% increase year-on-year [22] - The net profit attributable to shareholders was 18.74 billion yuan, up by 36.9% compared to the previous year [22] - The increase in profit was significantly influenced by a licensing payment received during the reporting period [22] Group 8: Bull Group - Bull Group reported a revenue of 16.83 billion yuan in 2024, reflecting a 7.24% increase year-on-year [13] - The net profit attributable to shareholders was 4.27 billion yuan, a growth of 10.39% compared to the previous year [13] - The company experienced growth in its electrical connection and smart lighting businesses, as well as rapid development in its new energy sector [14]

惠州亿纬锂能股份有限公司 章程 目 录 第一节 董事 1/ 63 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东大会 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的通知 第五节 股东大会的召开 第六节 股东大会提案 第七节 股东大会的表决和决议 第五章 董事会 第二节 公告 2/ 63 第二节 独立董事 第三节 董事会 第四节 董事会秘书 第五节 董事会专门委员会 第六章 高级管理人员 第七章 监事会 第一节 监事 第二节 监事会 第三节 监事会决议 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资或减资 第二节 解散和清算 第十章 通知和公告 第一节 通知 第十一章 修改章程 第十二章 股东大会认为需要规定的其他事项 第十三章 附则 第一章 总 则 第一条 为维护惠州亿纬锂能股份有限公司（以下简称"公司"）及其股东和债 权人的合法权益，规范公司的组织和行为，根据《 ...

惠州亿纬锂能股份有限公司 惠州亿纬锂能股份有限公司董事会 二〇二五年四月二十四日 1 / 1 章程修正案 根据《公司法》《证券法》《上市公司章程指引》等有关法律法规的规定，结合公司业 务发展需要，公司对《公司章程》作相应修订。具体情况如下： | 原条款 | 修订后的条款 | | --- | --- | | 第十四条 经公司登记机关核准，公司 | 第十四条 经公司登记机关核准，公 | | 经营范围：电池制造；电池销售；新材料技 | 司经营范围：电池制造；电池销售；新材料 | | 术研发；新兴能源技术研发；合成材料制造 | 技术研发；新兴能源技术研发；合成材料制 | | （不含危险化学品）；合成材料销售；金属 | 造（不含危险化学品）；合成材料销售；金 | | 材料制造；金属材料销售；新型金属功能材 | 属材料制造；金属材料销售；新型金属功能 | | 料销售；高性能有色金属及合金材料销售； | 材料销售；高性能有色金属及合金材料销 | | 智能仪器仪表制造；智能仪器仪表销售；技 | 售；智能仪器仪表制造；智能仪器仪表销售； | | 术服务、技术开发、技术咨询、技术交流、 | 技术服务、技术开发、技术咨询、技术交流 ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-059 惠州亿纬锂能股份有限公司 关于 2024 年度股东大会增加临时提案的公告暨召开 2024 年度股东大会的补充通知 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。 惠州亿纬锂能股份有限公司（以下简称"公司"）于2025年4月18日在巨潮资讯 网披露了《关于召开2024年度股东大会的通知》（公告编号：2025-052），定于2025 年5月8日（星期四）14:30召开2024年度股东大会。2025年4月24日，公司第六届董事 会第五十一次会议审议通过了《关于修订<公司章程>的议案》。公司董事会收到公司 实际控制人刘金成先生（直接和间接持有公司股份合计占公司总股本19.80%）的函， 提议将上述议案作为临时提案提交公司2024年度股东大会审议。根据《公司法》《上 市公司股东大会规则》和《公司章程》的有关规定：单独或合计持有3%以上股份的股 东，可以在股东大会召开10日前提出临时提案并书面提交召集人。召集人应当在收到 提案后2日内发出股东大会补充通知，公告临时提案的内容。 经董事会核查：截至本公告 ...