特此公告 联合资信评估股份有限公司 评级总监： 惠州亿纬锂能股份有限公司 创业板向不特定对象发行 可转换公司债券 信用评级报告 0 www.lhratings.com . 联合〔2024〕3290 号 联合资信评估股份有限公司通过对惠州亿纬锂能股份有限公司 及其创业板向不特定对象发行可转换公司债券的信用状况进行综合 分析和评估，确定惠州亿纬锂能股份有限公司主体长期信用等级为 AA+，惠州亿纬锂能股份有限公司创业板向不特定对象发行可转换 公司债券信用等级为 AA+，评级展望为稳定。 二〇二四年五月二十四日 0 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受惠州亿纬锂能股份有限公司（以下简称"该 公司"）委托所出具，除因本次评级事项 ...

法律意见 北京德恒律师事务所 关于惠州亿纬锂能股份有限公司 创业板向不特定对象发行可转换公司债券的 北京德恒律师事务所 DeHeng Law Offices 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于惠州亿纬锂能股份有限公司 创业板向不特定对象发行可转换公司债券的法律意见 目 录 | 释 人… | | --- | | 一、本次发行的批准和授权 | | 二、发行人本次发行的主体资格………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………7 | | 三、本次发行的实质条件 | | 四、 发行人的设立………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-027 惠州亿纬锂能股份有限公司 关联交易公告 一、关联交易基本情况 1、关联交易事项 （1）日常关联交易 ①公司子公司惠州金源智能机器人有限公司拟受托西藏亿纬控股有限公司（以下 简称"亿纬控股"）及子公司定制产业化设备等，2025年3月20日至2025年12月31日交 易金额不超过6,000万元人民币（不含增值税）。 ②公司及子公司拟受托惠州亿纬新能源有限公司（以下简称"亿纬新能源"）进 行模组加工，2025年3月20日至2025年12月31日交易金额不超过1,000万元人民币（不含 增值税）。 （2）调整部分日常关联交易 2024年12月6日和2024年12月18日，公司分别召开第六届董事会第四十五次会议和 2024年第六次临时股东大会审议通过了《关于关联交易的议案》，公司子公司EVE Energy Malaysia Sdn. Bhd.（以下简称"亿纬马来西亚"）拟向湖北金泉新材料有限公 司（以下简称"金泉新材料"）及其子公司采购NMP新液，2025年度交易金额不超过 759万元（不含增值税）。具体内容详见公司于2024年12月6日在巨潮资讯 ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-028 惠州亿纬锂能股份有限公司 关于第八期员工持股计划存续期展期的公告 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3月19日召开第六届董 事会第四十八次会议，审议通过了《关于第八期员工持股计划存续期展期的议案》，同 意公司第八期员工持股计划（以下简称"本员工持股计划"）存续期展期12个月。现将 相关情况公告如下： 二、本员工持股计划存续期展期的情况 一、本员工持股计划基本情况 公司分别于2021年3月19日召开的第五届董事会第二十五次会议和2021年3月29日 召开的2021年第一次临时股东大会审议通过了公司《关于2021年度员工持股计划（草 案）的议案》《关于提请股东大会授权董事会办理2021年度员工持股计划相关事宜的议 案》，同意公司实施2021年度员工持股计划（含公司第七期、第八期员工持股计划）， 并授权公司董事会办理员工持股计划的相关事宜。具体内容详见公司在创业板信息披 露网站巨潮资讯网披露的相关公告。 2021年6月10日，公 ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-023 惠州亿纬锂能股份有限公司 第六届监事会第四十六次会议决议公告 一、逐项审议通过了《关于进一步明确公司向不特定对象发行可转换公司债券方 案的议案》 逐项审议通过了本次向不特定对象发行可转换公司债券（以下简称"可转债"） 的发行具体方案，主要内容如下： 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""亿纬锂能"）第六届监事会第四 十六次会议于 2025 年 3 月 19 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。本次会议的会议通知及相关资料于 2025 年 3 月 17 日以邮件方式送达各位监事，全体监事知悉本次会议的审议事项，并充分表达意见。 本次会议由监事会主席祝媛主持，应参加会议监事 3 名，实际参加监事 3 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《中华人民共和国公司法》和《公司章程》的有关规定。经 表决，形成以下决议： 本议案表决结果：3票同意，0票反对，0票弃权 ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-022 惠州亿纬锂能股份有限公司 第六届董事会第四十八次会议决议公告 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""亿纬锂能"）于 2025 年 3 月 19 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四十八次会议。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。 本次会议的会议通知及相关资料于 2025 年 3 月 17 日以邮件方式送达各位董事， 全体董事知悉本次会议的审议事项，并充分表达意见。公司监事会成员和高级管理人 员列席了本次会议。 会议的召集和召开符合《中华人民共和国公司法》和《公司章程》的有关规定。经 表决，形成以下决议： 一、逐项审议通过了《关于进一步明确公司向不特定对象发行可转换公司债券方 案的议案》 1、发行证券的种类 本次发行证券的种类为可转换为公司A股股票的可转换公司债券。该可转换公司 债券及未来转 ...

Core Viewpoint - EVE Energy has received a supplier development notification from Xiaopeng Huitian to provide next-generation low-voltage lithium batteries, marking a significant achievement in the low-altitude economy sector [1] Group 1: Company Developments - EVE Energy is expanding its market presence in the low-altitude economy by collaborating with Xiaopeng Huitian, which is known for its flying car "Land Carrier" that completed its first manned flight in November last year [1] - The project with Xiaopeng Huitian is expected to enhance EVE Energy's overall strength in the new energy industry, although the actual impact on this year's performance remains uncertain until formal sales orders are received [1] - EVE Energy has previously engaged in battery product development for flying cars and drones, indicating a strategic focus on the eVTOL battery sector [2] Group 2: Industry Context - The low-altitude economy is gaining traction, with Xiaopeng Huitian having over 3,000 pre-orders for its flying car and plans to begin mass production in 2026 [1] - EVE Energy has been involved in research and development for eVTOL batteries for three years, delivering prototype products and assisting clients in obtaining necessary aviation certifications [2] - The company has also successfully completed a test flight of an electric manned airship, showcasing its capabilities in the aviation battery market [2]

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-021 惠州亿纬锂能股份有限公司 关于公司收到小鹏汇天供应商定点通知的公告 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。 近日，惠州亿纬锂能股份有限公司（以下简称"公司"）收到广东汇天航空航天科 技有限公司（以下简称"小鹏汇天"）的供应商定点开发通知书，公司将为小鹏汇天提 供下一代原理样机低压锂电池。 本次收到定点开发通知书，是对公司低压锂电池的研发技术、产品性能和供货资 格的全方位认可，是公司在低空经济领域市场开拓的又一重要成果。该项目的顺利实 施将有助于双方共筑低空经济新生态，共同推动低空经济产业高质量发展，并持续提 升公司在新能源行业的市场拓展力、综合实力和国际化水平。 项目的进展尚存在不确定性，实际供货量需以正式销售订单为准，对本年度经营 业绩的影响暂不确定。公司将根据该事项的进展情况及时履行进一步信息披露义务， 敬请广大投资者谨慎决策，注意投资风险。 特此公告。 惠州亿纬锂能股份有限公司董事会 2025 年 3 月 18 日 1 / 1 ...

Core Viewpoint - In 2024, global shipments of energy storage lithium batteries are expected to increase by over 55% year-on-year, with Chinese companies contributing more than 90% of global production capacity and dominating the top 10 rankings for the first time [1][2]. Group 1: Market Overview - The top five companies in global energy storage lithium battery shipments for 2024 are CATL, EVE Energy, Hicharge Energy, BYD, and Zhongxin Innovation, while the bottom five include Ruipu Lanjun, Guoxuan High-Tech, Envision Power, Penghui Energy, and Chuangneng New Energy [2]. - The significant change from 2023 is that Chinese companies now account for over 90% of global energy storage battery shipments, with all top ten companies being Chinese [2][4]. Group 2: Growth and Demand - The global energy storage lithium battery shipment volume is projected to grow by over 55% in 2024, with Chinese shipments increasing by over 60%. Specifically, shipments for power, household, and commercial energy storage batteries are expected to grow by over 70%, 25%, and 40%, respectively [5]. - In 2024, overseas demand remains a hot market for energy storage lithium batteries, with Chinese companies expected to export over 120 GWh of energy storage batteries, primarily to the US, Europe, Southeast Asia, and the Middle East, with North America and Europe accounting for 73% of the demand [7]. Group 3: Competitive Landscape - Despite strong demand, the energy storage lithium battery market is facing intense competition, leading companies to enhance their integrated research and development capabilities [8]. - The market concentration for energy storage lithium batteries has increased, with the CR10 rising from 88% in 2023 to 93% in 2024, indicating a stronger dominance of leading companies like CATL, EVE Energy, and Hicharge Energy [12]. Group 4: Company Highlights - CATL's energy storage system revenue reached 28.825 billion yuan in 2024, with a gross margin of 28.87%, making it a core profit growth point for the company [16]. - EVE Energy's energy storage battery shipments reached 35.73 GWh in 2024, a year-on-year increase of 115.57%, positioning it as the second-largest globally [17]. - Hicharge Energy has rapidly risen to become the third-largest global player in energy storage battery shipments, focusing on large-capacity battery solutions [19]. - BYD has provided energy storage system solutions for over 360 projects globally, with its new MC Cube-T system achieving significant efficiency improvements [20]. - Zhongxin Innovation has become a Tier 1 energy storage manufacturer, with its 314Ah energy storage cell gaining widespread market acceptance [22]. - Ruipu Lanjun has introduced a series of innovative products and solutions, enhancing system efficiency and reducing costs [23]. - Guoxuan High-Tech's energy storage business revenue reached 4.339 billion yuan in the first half of 2024, with a gross margin of 23.87% [24]. - Envision Power has delivered over 30 GWh of 300+Ah energy storage cells, leading the industry in safety performance [26]. - Penghui Energy has developed advanced technologies and achieved significant breakthroughs in battery performance [27]. - Chuangneng New Energy has rapidly expanded its production capacity and secured multiple large-scale contracts [28].

Investment Rating - The report assigns a "Buy" rating to several companies in the battery industry, including Ningde Times, Yiwei Lithium Energy, Guoxuan High-Tech, and Zhongxin Innovation, with target prices indicating potential upside [2][19]. Core Insights - In February 2025, China's power battery installation volume reached 34.9 GWh, showing a year-on-year increase of 94.1% [5][10]. - The export of batteries from China in February 2025 was 21.1 GWh, a year-on-year increase of 144.7%, with energy storage batteries accounting for 39.4% of total exports [5][13]. - The report highlights the acceleration of overseas expansion by Chinese cylindrical battery manufacturers and the entry of South Korean companies into the cylindrical battery market [5][10]. - The U.S. has raised the comprehensive tariff rate on Chinese batteries to 48.4%, which is expected to accelerate the overseas production layout of Chinese battery companies [5][10]. - The report anticipates a significant rebound in the Chinese passenger car and power battery market in March 2025, driven by increased promotions and new model releases [5][10]. Summary by Sections Company Valuation Overview - Ningde Times (300750 CH) has a target price of 314.11 with a current price of 254.50, indicating a potential upside of 23.4% [2][19]. - Yiwei Lithium Energy (300014 CH) has a target price of 56.51 with a current price of 50.49, indicating a potential upside of 11.9% [2][19]. - Guoxuan High-Tech (002074 CH) has a target price of 29.07 with a current price of 23.13, indicating a potential upside of 25.7% [2][19]. - Zhongxin Innovation (3931 HK) has a target price of 15.59 with a current price of 19.38, indicating a potential downside of 19.6% [2][19]. - Ruipu Lanjun (666 HK) is rated as "Neutral" with a target price of 14.25 and a current price of 10.86, indicating a potential upside of 31.3% [2][19]. Market Trends - The report notes a slight decrease in the concentration of power battery installation volume, with CR3 and CR5 market shares at 73.0% and 82.7%, respectively [5][19]. - The report emphasizes the urgent need for advancements in battery energy density and safety due to the rapid industrialization of humanoid robots and eVTOLs, which may accelerate the commercialization of solid-state batteries and large cylindrical batteries [5][10].