行证券代码：300014 证券简称：亿纬锂能 公告编号：2025-057 惠州亿纬锂能股份有限公司 第六届董事会第五十一次会议决议公告 公司董事认真审阅了《公司 2025 年第一季度报告》，认为《公司 2025 年第一季度 报告》能够真实、准确、完整地反映公司的实际情况，公司的董事、监事及高级管理人 员均对报告出具了书面确认意见。《公司 2025 年第一季度报告》的具体内容详见公司 同日在创业板信息披露网站巨潮资讯网披露的相关公告。 本议案表决结果：7 票同意，0 票反对，0 票弃权，获得通过。 二、审议通过了《关于修订<公司章程>的议案》 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。 具体内容详见公司同日在创业板信息披露网站巨潮资讯网披露的《公司章程》和 《公司章程修正案》。 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 24 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 ...

Core Viewpoint - EVE Energy (300014.SZ) reported a strong performance in Q1 2025, showcasing resilience in the face of deep adjustments in the new energy industry, with significant revenue growth and expansion in battery shipments [1] Financial Performance - The company achieved operating revenue of 12.796 billion yuan, representing a year-on-year increase of 37.34% [1] - The net profit attributable to the parent company, excluding non-recurring items, was 0.817 billion yuan, up 16.60% year-on-year [1] Product and Market Growth - EVE Energy's shipments of power batteries reached 10.17 GWh in Q1, marking a year-on-year growth of 57.58%, significantly outpacing the industry average [1] - The company is actively expanding into emerging markets such as eVTOL, drones, and robotics, with some projects having completed initial sample deliveries [1] International Expansion - The company's small cylindrical battery factory in Malaysia has been completed and is now in production, with energy storage projects expected to begin mass production next year [1] - The establishment of a base in Hungary is underway, indicating that the international strategy may open a second growth curve for the company [1]

Financial Performance - The company's revenue for Q1 2025 reached ¥12.80 billion, a 37.34% increase compared to ¥9.32 billion in the same period last year[4]. - Net profit attributable to shareholders was ¥1.10 billion, reflecting a 3.32% increase from ¥1.07 billion year-on-year[4]. - The net profit excluding non-recurring items was ¥817.72 million, up 16.60% from ¥701.28 million in the previous year[4]. - Total operating revenue for the current period reached ¥12,796,142,215.48, a significant increase of 37.6% compared to ¥9,317,321,354.65 in the previous period[26]. - Net profit for the current period was ¥1,164,703,809.72, representing an increase of 10.4% compared to ¥1,055,311,277.97 from the previous period[27]. - The company reported a basic earnings per share of ¥0.54, up from ¥0.52 in the previous period[28]. - The company reported a total comprehensive income of ¥1,220,827,368.71, compared to ¥1,056,705,910.20 in the previous period, showing an increase of 15.5%[28]. Cash Flow - The cash flow from operating activities turned positive at ¥892.14 million, a significant improvement of 150.94% compared to a negative cash flow of ¥1.75 billion in the same period last year[4]. - Cash flow from operating activities was ¥9,946,128,215.04, compared to ¥6,073,168,517.90 in the previous period, indicating a growth of 63.1%[30]. - Net cash flow from operating activities was CNY 892,143,948.57, a significant recovery from a negative CNY 1,751,380,202.07[31]. - Cash inflow from financing activities was CNY 8,106,795,447.15, significantly higher than CNY 3,634,334,954.32[32]. - Net cash flow from financing activities reached ¥5,640,411,936.85, marking a 170.81% increase due to the issuance of convertible bonds during the reporting period[16]. - The ending cash and cash equivalents balance was CNY 12,898,868,703.42, up from CNY 8,439,560,878.56[32]. Assets and Liabilities - The company's total assets increased by 7.54% to ¥108.50 billion from ¥100.89 billion at the end of the previous year[5]. - Total assets reached ¥108,500,838,294.33, up from ¥100,890,624,125.27, reflecting overall asset growth[22]. - The company's total current assets increased to ¥43,260,395,552.93 from ¥37,984,679,070.74, indicating a growth in liquidity[22]. - Total liabilities increased to ¥67,248,685,643.23, compared to ¥59,891,437,252.63 in the previous period, reflecting a growth of 12.8%[24]. - The total liabilities decreased from ¥37,984,679,070.74 to ¥36,000,000,000, indicating improved financial stability[22]. - Non-current liabilities totaled ¥27,980,657,057.75, an increase from ¥20,053,238,122.53, marking a rise of 39.5%[24]. Market Position and Growth Strategy - The company’s market share in the new energy commercial vehicle segment reached 13.41%, maintaining the second position in the domestic market[11]. - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[20]. Operating Costs and Profitability - The gross profit margin for the reporting period was impacted by a 37.45% increase in operating costs, which rose to ¥10.60 billion from ¥7.71 billion[15]. - Total operating costs amounted to ¥12,042,955,870.66, up 34.5% from ¥8,934,901,558.36 in the prior period[26]. - Research and development expenses were ¥609,186,828.11, a decrease of 15.7% from ¥722,695,537.97 in the previous period[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,492, with no preferred shareholders having restored voting rights[18]. - The largest shareholder, Tibet Yiwei Holdings Co., Ltd., holds 32.02% of shares, amounting to 655,064,787 shares, with 354,990,000 shares pledged[18].

亿纬锂能（300014）公告，2025年第一季度营业收入127.96亿元，同比增长37.34%。净利润11.01亿 元，同比增长3.32%。 ...

Investment Rating - The report maintains a "Recommended" rating for the company [2] Core Views - The company is expected to benefit from the recovery of the global 3C consumer electronics market, with leading positions in energy storage scale and technology, and improving profitability in the power battery sector. The overseas market competitiveness is anticipated to increase with the release of production capacity [5] - The company achieved a revenue of 48.6 billion yuan in 2024, a slight decline of 0.3% year-on-year, while the net profit attributable to the parent company was 4.1 billion yuan, an increase of 0.6% year-on-year. The gross margin and net margin were 17.4% and 8.7%, respectively [5] - The company’s energy storage battery shipments reached 50.5 GWh in 2024, a significant increase of 92% year-on-year, ranking second globally with revenue of 19 billion yuan, a growth of 16% year-on-year. The power battery shipments were 30.29 GWh, up 7.9% year-on-year, although revenue declined by 20% due to intensified competition [5] - The company is actively exploring new fields such as humanoid robots and low-altitude products, with successful sample deliveries and orders in commercial drones and AI glasses [5] Financial Forecast Summary - Revenue is projected to grow from 48.6 billion yuan in 2024 to 61.9 billion yuan in 2025, and further to 77.0 billion yuan in 2026, with growth rates of -0.35%, 27.38%, and 24.38% respectively [2][7] - The net profit attributable to the parent company is expected to increase from 4.1 billion yuan in 2024 to 5.7 billion yuan in 2025, and 7.6 billion yuan in 2026, with growth rates of 0.63%, 40.25%, and 32.36% respectively [2][7] - The diluted EPS is forecasted to rise from 1.99 yuan in 2024 to 2.79 yuan in 2025, and 3.70 yuan in 2026 [2][7] - The company’s gross margin is expected to improve slightly from 17.41% in 2024 to 18.27% in 2025, and 18.59% in 2026 [2][7] Market Data - The company's stock code is 300014.SZ, with a closing price of 39.99 yuan as of April 18, 2025. The total market capitalization is approximately 74.44 billion yuan [3]

一系列看似独立事件，形成的效应，乃至风暴正在对动储产业全球化趋势产业严重影响，甚至剧 烈冲击。 近日据多方外媒报道，韩国电动汽车 (EV) 电池制造商LG集团及其财团已正式撤回在印度尼西亚 建设电动汽车电池生态系统的计划投资。这一决定标志着该项目自2019年宣布以来，历经多年缓 慢进展后，最终未能落地。 据悉，该项目总投资额达77亿美元，原计划由LG Energy Solution （LG新能源） 、LG Chem （LG化学） 、LX International Corp （LX国际公司） 以及印度尼西亚国有企业共同推进，旨在 构建从原材料采购到电池生产的 "端到端价值链"。印尼作为全球最大的镍生产国，其丰富的镍资 源对电动汽车电池产业至关重要，因此该项目被视为LG集团在全球电池供应链布局中的关键一 环。 （消息来自 "环球网"） 事实上，这还只是动储产业全球化退潮的冰山一角。 据德国媒体4月中旬披露，由于国轩高科与市政府之间的法律纠纷，美国密歇根州梅科斯塔县计 划建设的电动汽车电池生产设施已停工。据了解，国轩计划在格林查特镇建设电池生产设施，该 项目预计投资约23.6亿美元，生产原定于2026年1月开始。 ...

◆ 电池 ◆ 宁德时代将与丰田汽车开发磷酸铁锂电池 01 近日， 本田汽车表示，将与宁德时代合作，共同开发将电池直接放置在车身内的高效平台；将与 宁德时代共同开发磷酸铁锂电池，并计划在即将推出的第三代YE系列车型中采用该电池。 亿纬锂能发布OMNI全能电池 原位升级"计划" 03 近在2025上海车展上，吉利控股集团宣布，控股集团将整合旗下电池业务，成立全新电池产业集 团—吉曜通行，原有的金砖电池、神盾短刀电池，统一为神盾金砖电池品牌。同时，搭载神盾金砖 电池的全新硬核科技SUV原型车"银河战舰"，也在车展现场迎来全球首发。 ◆ 材料 ◆ 相源新能源60亿元锂电项目签约遂宁 01 4月22日，四川省遂宁市安居区人民政府与安徽相源新能源有限公司合作项目签约仪式暨现场推进 活动在安居区举行。 据介绍，安徽相源新能源有限公司计划总投资60亿元的锂电池项目，将重点 生产"18650"型、"32140"型、"46160"型圆柱形锂电池，主要应用电动工具、电动车辆、无人 机、移动电源、笔记本电脑、智能手机等。 02 达在今日开幕的2025上海国际车展上，亿纬锂能发布OMNI全能电池原位升级计划"。公司副总裁 江吉兵表示， ...

电池产业的"吸金"能力依旧，但随着新一轮竞争周期的到来，此时的扩产投资风向已经发生了较大的变化。 据起点锂电观察，自2020年开始的锂电产业扩产潮，从无序化正逐步转化为按需投资，随着竞争格局清晰，各领域的布局也更为谨慎。 从项目上来看，各赛道均有项目"喊停"，而这背后的原因与转变都有明显的特点。 01 多个锂电项目折戟 不完全统计，2025年以来已有多个锂电项目被撤回，其中4月份"撤单"数量明显增多。 电池端， 欣旺达4月22日发布公告叫停两大项目 ，分别为 欣旺达30GWh动力电池生产基地项目、 欣智旺智能硬件宁乡综合生产基地项目， 其中就包括百亿级别 动力电池生产项目。 据了解，欣旺达 原计划投资 120亿元，在 珠海市建设30GWh动力电池生产基地， 从事动力电芯、电池模组和电池系统的研发、设计、 生 产及销售。 材料端， 芳源股份4月17日公告宣布终止投资 电池级碳酸锂生产及废旧磷酸铁锂电池综合利用项目。 项目原计划 总投资金额不超过30亿元，分两期建设年产3万吨电池级碳酸锂及4.6万吨磷酸铁前驱体项目（一期）、年产4万吨磷酸铁锂正极 材料项目（二期）。 金浦钛业4月7日公告表示，将终止投资合资公 司 ...

Core Viewpoint - At the 2025 Shanghai International Auto Show, EVE Energy (300014) announced the "in-situ upgrade plan" for its OMNI all-purpose battery, aiming to innovate battery technology while maintaining the same dimensions [1] Group 1: Company Initiatives - The "in-situ upgrade" refers to achieving different battery capacities, range, charging speeds, and vehicle power requirements through innovative chemical material systems without changing the battery size [1] - The company recommends adopting large cylindrical batteries for the in-situ upgrade path [1] Group 2: R&D Efficiency - The in-situ upgrade approach can shorten the battery system development time to 3-6 months [1] - This method can also reduce R&D costs by 80% [1]

Core Insights - The company reported a slight decline in annual revenue for 2024, with total revenue of 48.615 billion yuan, down 0.35% year-on-year, while net profit attributable to shareholders increased by 0.63% to 4.076 billion yuan [1] Group 1: Energy Storage Business - The energy storage business saw significant growth, with cell shipments reaching 50.45 GWh, a year-on-year increase of 91.9%, securing the second-largest global market share [2] - Revenue from the energy storage segment reached 19 billion yuan, supported by advancements in product technology, including the fourth-generation Mr.Big series cells [2] - The company’s 60 GWh super factory commenced production by the end of 2024, with a Malaysian production line expected to start in early 2026, enhancing global delivery capabilities [2] Group 2: Power Battery Sales - Power battery shipments totaled 30.29 GWh in 2024, reflecting a year-on-year growth of 7.87%, although revenue declined by 20.08% to 19.167 billion yuan due to fluctuations in downstream customer sales [3] - The company maintained a strong position in the commercial vehicle sector, achieving a market share of 12.15%, ranking second in the industry [3] Group 3: Consumer Battery Performance - The consumer battery segment generated revenue of 10.322 billion yuan, up 23.44% year-on-year, with a gross margin of 27.58%, an increase of 3.85 percentage points [4] - The company achieved full production and sales capacity in the small cylindrical battery segment, expanding its market share in various applications [4] - New market entries include BBU/eVTOL/robotics, with production capabilities from the Chengdu base and a Malaysian factory set to enhance customer demand fulfillment [4] Group 4: Profit Forecast and Investment Recommendations - The company anticipates revenue growth from 63.44 billion yuan in 2025 to 99.43 billion yuan in 2027, with year-on-year growth rates of 31%, 25%, and 25% respectively [5] - Net profit is projected to rise from 5.66 billion yuan in 2025 to 7.82 billion yuan in 2027, with corresponding growth rates of 39%, 21%, and 14% [5] - Earnings per share (EPS) are expected to increase to 3.8 yuan by 2027, with price-to-earnings (PE) ratios decreasing from 14 to 10 over the same period, maintaining a "buy" rating due to the company's leadership in the lithium battery industry [5]