Core Viewpoint - The joint battery cell factory established by Jinko ESS and EVE Energy has officially entered mass production, marking a significant step in vertical integration within the energy storage industry [2][3]. Group 1: Joint Factory Production - The joint factory completed equipment debugging in May 2025 and began full operation in June, with an annual supply capacity of 5GWh of 314Ah energy storage cells for Jinko ESS [2]. - The 314Ah energy storage cells are specifically designed for commercial and large-scale energy storage systems, optimizing the entire process from material selection to quality control, thereby enhancing energy density and system integration efficiency [2]. - The CEO of Jinko ESS stated that the mass production of the joint factory signifies the company's vertical extension from system integration to core battery cells, providing excellent energy storage solutions [2]. Group 2: Market Growth and Strategic Partnership - The global energy storage market is growing at an annual rate exceeding 30%, with expectations that the new installed capacity will surpass 200GWh by 2025 [2]. - EVE Energy's General Manager emphasized the importance of the joint battery cell factory as a result of vertical integration and technological collaboration, aiming to explore battery iteration and intelligent system solutions [3]. - The partnership between Jinko ESS and EVE Energy is expected to leverage their complementary advantages in battery cells, systems, and market access to drive industry upgrades [3].

Core Viewpoint - The lithium metal is identified as a long-term direction for solid-state battery anodes, with the rolling method expected to achieve large-scale implementation first, while evaporation and liquid-phase methods are potential future development directions for ultra-thin lithium strips [1][4]. Industry Changes - Lithium carbonate price decreased to 59,000 yuan/ton, down 8% month-on-month; lithium hydroxide price decreased to 61,000 yuan/ton, down 7% month-on-month [2]. - In June, domestic wholesale sales of new energy passenger vehicles reached 1.11 million units, up 27% year-on-year and 2% month-on-month; cumulative sales from January to June reached 6.1 million units, up 39% year-on-year [2]. Market Review - Since July 2025, the lithium battery sector has been active, with most segments outperforming the CSI 300 and SSE 50 indices; lithium mining sector led with an 11% increase, while segments like intelligent driving and lithium iron phosphate cathodes saw declines of -0.4%, -1%, and -3% respectively [3]. - The trading volume in lithium battery-related sectors continued to grow, driven by active trading in solid-state battery segments [3]. Research Focus - Lithium metal anodes can achieve higher energy density compared to graphite and silicon-carbon, making them a long-term iteration direction for solid-state batteries; the global market for lithium metal is expected to approach 10 billion yuan by 2030 [4]. - The rolling method is expected to achieve large-scale implementation first, while evaporation and liquid-phase methods are seen as potential future directions for ultra-thin lithium strips [4]. Industry Insights - In June, new energy vehicle sales in China reached 1.11 million units, with a penetration rate of 50%; Europe and the U.S. followed with 300,000 and 120,000 units respectively [5]. - Domestic energy storage installations in June were 6.9 GWh, down 41% month-on-month and 70% year-on-year, while cumulative installations from January to June reached 49.0 GWh, up 162% year-on-year [5]. Lithium Battery Production Tracking - In July, production of lithium batteries is expected to see a month-on-month change of -2% to 3%, with year-on-year growth of 7% to 49% [6]. - Overall lithium battery material prices stabilized, with lithium salt and separator prices continuing to decline [6]. New Technologies - Solid-state battery commercialization is expected to be influenced by policies and the emergence of new technologies; the focus is on oxide and polymer routes for future development [7].

Market Overview - The battery sector increased by 1.17% compared to the previous trading day, with Xingyun Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Stock Performance - Notable gainers in the battery sector included: - **Xingyun Co., Ltd.** (300648) with a closing price of 49.90, up 14.90% and a trading volume of 150,800 shares, totaling 713 million yuan [1] - **Xinyu Ren** (688573) closed at 33.16, up 9.58% with a volume of 121,100 shares [1] - **Jinyang Co., Ltd.** (301210) closed at 44.16, up 6.08% with a volume of 82,300 shares [1] Capital Flow - The battery sector saw a net inflow of 471 million yuan from institutional investors, while retail investors experienced a net outflow of 744 million yuan [2][3] - Major stocks with significant capital inflows included: - **Ningde Times** (300750) with a net inflow of 1.90 billion yuan from institutional investors [3] - **Weilan Lithium Core** (002245) with a net inflow of 1.11 billion yuan [3] Summary of Trading Data - The trading data for the battery sector showed a mix of gains and losses among various stocks, with some experiencing significant increases while others faced declines [2][3] - The overall sentiment in the battery sector appears positive, driven by strong performances from key players [1][2]

Group 1: Investment Growth - Hubei's fixed asset investment increased by 6.5% year-on-year in the first half of the year, ranking first among major economic provinces and in the central region [1] - The investment strategy focuses on transforming current investments into future competitiveness through a series of upgrades [1] Group 2: Industry Development - The proportion of industrial projects in Hubei's 2025 key project list has surpassed that of major infrastructure projects for the first time [2] - Traditional industries are undergoing upgrades, with new sectors like electric vehicles and humanoid robots emerging, demanding new materials such as high-strength, ultra-thin silicon steel from WISCO [2] - New industries are expanding, exemplified by the construction of a fully automated industrial park for high-end refrigerators by Midea in Jingzhou [2] Group 3: Infrastructure Projects - Eight Yangtze River bridges are under construction, significantly reducing travel times between key locations [6][7] - Hubei's highway construction saw an investment of 576.7 billion yuan in the first half of the year, with a year-on-year growth of 8.6% [7] - The "Iron-Water-Air" integrated planning in the Jianghan Plain aims to upgrade transportation and logistics systems for 32 million people [7] Group 4: Private Investment and Confidence - The new project by Bangpu in Yichang, with a total investment of 5 billion yuan, aims to enhance the lithium iron phosphate battery supply chain [8] - EVE Energy is increasing its investment in Hubei, with a total investment exceeding 40 billion yuan and an annual production capacity surpassing 169 GWh [8] - Hubei has selected 229 projects to attract private capital, with private investment growing by 6.2% year-on-year, outpacing the national average [8]

Core Viewpoint - The article emphasizes the importance of the 2025 lithium battery research and interview activities, focusing on identifying quality battery brands and products in the energy storage sector [2][4]. Group 1: Research Activities - The 2025 lithium battery research and interview activities will take place from August 4 to August 22, 2025, covering regions such as Shenzhen, Dongguan, and Huizhou, with visits to major companies like BYD, Gotion High-tech, and EVE Energy [7]. - The research process includes factory visits, executive introductions, and discussions on industry trends and collaboration opportunities [6][5]. Group 2: Sponsorship Opportunities - Various sponsorship options are available for the research activities, including full participation for over 20 sponsors and advertising placements in the WeChat account for 10,000 per month [8]. - Sponsors will receive benefits such as a simplified version of the 2025 Global Lithium Battery White Paper and online promotional opportunities during the research activities [8]. Group 3: Previous Research Reviews - The article mentions past research visits to key players in the lithium battery industry, including BYD, CATL, and EVE Energy, highlighting the ongoing engagement with leading companies [10][11].

Core Viewpoint - The article emphasizes the importance of the 2025 lithium battery research and interview activities, focusing on identifying quality battery brands and products in the energy storage sector [2][4]. Group 1: Research Activities - The 2025 lithium battery research and interview activities will take place from August 4 to August 22, 2025, covering regions such as Shenzhen, Dongguan, and Huizhou, with visits to major companies like BYD, Gotion High-tech, and EVE Energy [7]. - The research process includes factory visits, executive introductions, and discussions on industry trends and collaboration opportunities [6][5]. Group 2: Sponsorship Opportunities - Various sponsorship options are available for the research activities, including full participation for over 20 sponsors and advertising placements in the WeChat account for a monthly fee of 10,000 [8]. - Sponsors will receive benefits such as a simplified version of the 2025 Global Lithium Battery White Paper and online promotional opportunities during the research activities [8]. Group 3: Previous Research Reviews - The article mentions past research visits to key players in the lithium battery industry, including BYD, CATL, and EVE Energy, highlighting the ongoing engagement with leading companies [10][11].

天眼查商业履历信息显示，惠州亿纬锂能股份有限公司，成立于2001年，位于惠州市，是一家以从事批 发业为主的企业。企业注册资本204572.1497万人民币，实缴资本189833.0069万人民币。公司法定代表 人为刘金成。 通过天眼查大数据分析，惠州亿纬锂能股份有限公司共对外投资了47家企业，参与招投标项目208次， 知识产权方面有商标信息285条，专利信息3751条，此外企业还拥有行政许可380个。 资金流向方面，今日主力资金净流入1.29亿元，占比成交额9.51%。其中，超大单净流入3725.54万元、 占成交额2.75%，大单净流入9180.11万元、占成交额6.77%，中单净流出流入6634.49万元、占成交额 4.89%，小单净流出19540.14万元、占成交额14.41%。 亿纬锂能最新一期业绩显示，截至2025一季报，公司营业总收入127.96亿元、同比增长37.34%，归属净 利润11.01亿元，同比增长3.32%，扣非净利润8.18亿元，同比增长16.60%，流动比率1.102、速动比率 0.967、资产负债率61.98%。 金融界消息 截至2025年8月1日收盘，亿纬锂能（300014）报 ...

Core Viewpoint - The article discusses the top 10 global user-side energy storage shipments for the first half of 2025, highlighting key players in the industry and their market positions [1]. Group 1: Industry Overview - The article lists the top 10 companies in global user-side energy storage shipments for H1 2025, indicating a competitive landscape in the energy storage sector [1]. Group 2: Key Players - The top companies mentioned include REPT, EVE Energy, and BYD, showcasing their significant roles in the energy storage market [1].

Group 1 - The recent price correction in the new energy vehicle (NEV) sector indicates that the "anti-involution" trading is not over but is instead gathering momentum, with a significant market pullback observed on July 31 [1] - The speech from the non-party personnel meeting on July 30 emphasized the importance of addressing "involution" as a key focus for the second half of the year, suggesting that policy momentum will remain stable and that related investment opportunities will be more medium to long-term rather than short-term speculation [1] - The NEV industry is experiencing a slowdown in new supply, but the core of the cyclical upturn will be driven more by demand and new technologies, with China leading in global competitiveness for NEVs and batteries [1] Group 2 - The demand side shows that companies like CATL have a significant overseas revenue growth of 21.1% in the first half of the year, which is much higher than the overall revenue growth of 7.3%, indicating a strong international market presence [1] - New technologies such as smart driving are penetrating lower-priced models, with BYD committing to safety in smart parking and new models expected to launch in the second half of the year [1] - Solid-state batteries are also seeing rapid development, with the Ministry of Industry and Information Technology planning a mid-term review of automotive-grade battery performance by the end of 2025, and key milestones for pilot production expected between the second half of 2025 and the first half of 2026 [1] Group 3 - The new energy vehicle ETF closely tracks the CSI New Energy Vehicle Industry Index, which includes 50 listed companies involved in various aspects of the NEV industry, reflecting the overall performance of leading NEV companies [2] - As of August 1, the NEV ETF opened with an increase, and the top ten weighted stocks in the CSI New Energy Vehicle Industry Index account for 55.33% of the index, with major companies including CATL, BYD, and others [3]

Core Viewpoint - The Hong Kong stock market is becoming a strategic "springboard" for lithium battery companies to accelerate overseas expansion amid global energy transition, with a surge in IPOs expected in 2024 [1][18]. Group 1: Companies Going Public - XINWANDA has submitted an application for H-share listing on the Hong Kong Stock Exchange, with Goldman Sachs and CITIC Securities as joint sponsors [1]. - As of now, around 15 companies from the battery sector, including NINGDE TIMES, YIWAI LITHIUM ENERGY, and others, are aiming for IPOs in Hong Kong, indicating a trend of "A+H" dual listings [2]. - NINGDE TIMES successfully listed in Hong Kong on May 20, 2024, raising significant capital for overseas projects [4]. Group 2: Funding and Expansion Plans - ZHENGLI NEW ENERGY raised approximately HKD 10.05 billion in its IPO, with plans to expand production capacity and invest in R&D [5]. - YIWAI LITHIUM ENERGY is focusing its Hong Kong listing on financing overseas production bases in Hungary and Malaysia, with a planned capacity of 30 GWh in Hungary [6]. - HAI CHEN ENERGY aims to become the third-largest global supplier of lithium-ion storage batteries, with a market share of 11% and significant overseas revenue growth [7]. Group 3: Globalization Strategies - XINWANDA has established production bases in multiple countries, with overseas revenue expected to reach 41.83% in 2024 [9]. - ZHONGWEI CO., LTD. has seen its overseas revenue grow from CNY 202 million to CNY 17.88 billion from 2017 to 2024, indicating a strong international presence [11]. - STAR SOURCE MATERIALS plans to enhance its global footprint through a new factory in Malaysia, aiming for a production capacity of 2 billion square meters of battery separators [12]. Group 4: Market Dynamics - The increasing competition in the domestic market and the need for capital have driven companies to seek listings in Hong Kong, which offers a more favorable financing environment [18]. - The trend of lithium battery companies pursuing IPOs in Hong Kong reflects the necessity for local operations to navigate trade barriers in overseas markets [18]. - The upcoming IPO wave is expected to reshape the competitive landscape of the lithium battery industry, with capital internationalization becoming a new avenue for leading companies [18].