证券日报网讯 11月21日晚间，鹏辉能源发布公告称，公司的全资子公司珠海鹏辉能源有限公司（简 称"珠海鹏辉"）于近日签署了《金石沣盈（青岛）股权投资合伙企业（有限合伙）合伙协议》，投资金 石沣盈（青岛）股权投资合伙企业（有限合伙）（简称"金石沣盈"），本次投资完成后金石沣盈认缴出 资总额为100，000万元，珠海鹏辉认缴出资3，000万元，认缴出资比例为3%。近日，公司收到金石沣 盈的《私募投资基金备案证明》，金石沣盈已根据《中华人民共和国证券投资基金法》和《私募投资基 金监督管理暂行办法》等法律法规的要求，在中国证券投资基金业协会完成私募投资基金备案手续。 （文章来源：证券日报） ...

Core Insights - Haier Group's subsidiary Haier Smart Home is exploring collaboration with Penghui Energy to enhance smart home solutions [1] Group 1 - Haier Smart Home's Vice President and General Manager of Smart Home, Cui Zhen, visited Penghui Energy's headquarters in Guangzhou [1] - The meeting involved discussions on comprehensive smart home solutions and the expansion of cooperation areas [1] - Both companies reached a significant consensus on strengthening collaborative innovation [1]

Core Insights - The cancellation of the "mandatory storage" policy and overcapacity in the energy storage market have led to intense price competition, prompting leading companies like Penghui Energy to accelerate their international expansion [1] Group 1: Market Demand and Supply - There has been a significant increase in orders for energy storage, with the company reporting that orders are scheduled until next year [1] - In October 2025, new bidding projects for energy storage reached a total of 12.7GW/38.7GWh, representing an 85% year-on-year increase, although a 11.24% decrease compared to the previous month [2] - The electrification transition is driving explosive growth in global energy storage demand, with domestic market needs and international factors such as power supply shortages in the U.S. and unstable grids in Europe contributing to this trend [2] Group 2: Production Capacity and Challenges - Penghui Energy's production lines for major energy storage products are currently at full capacity, leading to price increases for some products compared to earlier in the year [3] - The company’s production base in Quzhou has a capacity allocation of 30% for exports and 70% for domestic sales, with plans for further capacity expansion in 2024 [3] - The Quzhou base was established in October 2022 and achieved product rollout within 10 months, with ongoing plans for additional production lines to be operational by mid-next year [3] Group 3: Technological Innovations - Solid-state batteries represent a significant technological advancement in lithium batteries, with expectations for small-scale production by 2027 supported by government funding [4] - Penghui Energy has improved the energy density of its solid-state batteries from 280Wh/Kg to 320Wh/Kg, enhancing performance stability [4] - The development of AI technology is anticipated to optimize energy storage systems, particularly in adapting to the continuous power demands of AI computing centers [4][5]

Core Insights - The cancellation of the "mandatory storage" policy and overcapacity in the energy storage market have led to intense price competition, prompting leading companies like Penghui Energy to accelerate their international expansion [1] Group 1: Market Demand and Supply - There has been a significant increase in orders for energy storage, with the domestic new energy storage application projects showing a monthly increase in bidding capacity compared to the same period in 2024 [2] - In October 2025, new bidding projects for energy storage EPC/PC, systems, and cells totaled 12.7GW/38.7GWh, representing an 85% year-on-year increase but an 11.24% decrease month-on-month [2] - The demand for energy storage is driven by electrification transformation, with domestic market needs and international factors such as power supply shortages in the US and unstable grids in Europe contributing to this growth [2] Group 2: Company Operations and Production Capacity - Penghui Energy's production lines for major energy storage products are currently at full capacity, leading to price increases for some energy storage cell products compared to the first half of the year [3] - The company exports 30% of its products from its Quzhou base, which has been operational for only 10 months since its construction began in October 2022 [3] - The Quzhou base is expected to reach full production capacity in 2024, with additional production lines anticipated to start running by mid-next year [3] Group 3: Technological Innovations - The most significant technological advancement in lithium batteries is the development of solid-state batteries, with expectations for small-scale production by 2027 supported by government funding [4] - Penghui Energy has improved the energy density of its solid-state batteries from 280Wh/Kg to 320Wh/Kg, enhancing performance stability [4] - AI technology is expected to optimize energy storage systems, particularly in adapting to the continuous power demands of AI computing centers, indicating a growing intersection between AI and energy storage [4][5]

证券代码：300438 证券简称：鹏辉能源 公告编号：2025-055 广州鹏辉能源科技股份有限公司 关于全资子公司与专业投资机构共同投资的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、本次对外投资事项概述 广州鹏辉能源科技股份有限公司（以下简称"公司"）的全资子公司珠海鹏辉能源 有限公司（以下简称"珠海鹏辉"）于近日签署了《金石沣盈（青岛）股权投资合伙企 业（有限合伙）合伙协议》，投资金石沣盈（青岛）股权投资合伙企业（有限合伙）（以 下简称"金石沣盈"），本次投资完成后金石沣盈认缴出资总额为100,000万元，珠海 鹏辉认缴出资3,000万元，认缴出资比例为3%。 具体内容详见公司于2025年11月7日在中国证监会指定的创业板信息披露网站（巨 潮资讯网www.cninfo.com.cn）上披露的《关于全资子公司与专业投资机构共同投资的 公告》。 二、进展情况 近日，公司收到金石沣盈的《私募投资基金备案证明》，金石沣盈已根据《中华人 民共和国证券投资基金法》和《私募投资基金监督管理暂行办法》等法律法规的要求， 在中国证券投资基金业协会完成私募投 ...

Core Viewpoint - The global energy storage market is experiencing explosive growth, driven by increasing demand for renewable energy and the need for stability in power systems. The storage business has become a significant revenue driver for companies in the sector, with expectations of nearly 50% growth in the global storage market by 2026 [1][8]. Group 1: Market Demand and Growth - The energy storage sector is recognized as a core stabilizer and regulator in the power system, leading to a surge in market demand [1]. - Companies like Sungrow Power Supply Co. and Haibo Technology have reported significant revenue growth, with Haibo achieving a 124.42% year-on-year increase in Q3 2025 [3][4]. - The global energy storage market is projected to maintain a growth rate of 40%-50% in 2026, driven by increasing renewable energy integration and urgent storage needs in various regions [9][10]. Group 2: Company Performance - Haibo Technology reported Q3 2025 revenue of 3.39 billion yuan, with a net profit increase of 872.24% [3]. - Sungrow Power Supply Co. achieved revenue of 66.4 billion yuan in the first three quarters of 2025, a 33% increase year-on-year, with a 70% increase in storage shipments [4]. - EVE Energy Co. reported a revenue of 45 billion yuan, with a net profit growth of 32.17% [4][5]. Group 3: Market Trends and Future Outlook - The demand structure in the energy storage market is expected to change, with a shift towards longer-duration storage solutions and increased deployment in AI data centers [8][9]. - The overseas market for energy storage is booming, with Chinese companies securing 308 new overseas storage orders totaling 214.7 GWh, a 131.75% increase year-on-year [6]. - Companies in the photovoltaic sector are increasingly investing in energy storage to enhance profitability, with Trina Solar aiming for a significant increase in storage shipments by 2026 [10][11].

Company Overview - Penghui Energy, established on January 18, 2001, and listed on April 24, 2015, is located in Panyu District, Guangzhou, Guangdong Province. The company specializes in the research, production, and sales of lithium-ion batteries and primary batteries. The main business revenue composition is 98.89% from lithium-ion batteries and 1.11% from other sources [1]. Stock Performance - On November 21, Penghui Energy's stock fell by 5.01%, trading at 47.59 yuan per share, with a transaction volume of 709 million yuan and a turnover rate of 3.64%. The total market capitalization is 23.954 billion yuan [1]. Shareholder Information - Among the top ten circulating shareholders of Penghui Energy, a fund under Southern Fund holds a position. The Southern CSI 1000 ETF (512100) reduced its holdings by 27,900 shares in the third quarter, now holding 3.2188 million shares, which accounts for 0.8% of the circulating shares. The estimated floating loss today is approximately 8.0792 million yuan [2]. Fund Manager Profile - The fund manager of Southern CSI 1000 ETF (512100) is Cui Lei, who has been in the position for 7 years and 16 days. The total asset size of the fund is 122.76 billion yuan, with the best fund return during the tenure being 180.57% and the worst being -15.93% [3].

Company Overview - Penghui Energy, established on January 18, 2001, and listed on April 24, 2015, is located in Panyu District, Guangzhou, Guangdong Province. The company specializes in the research, production, and sales of lithium-ion batteries and primary batteries. The main business revenue composition is 98.89% from lithium-ion batteries and 1.11% from other sources [1]. Stock Performance - On November 21, Penghui Energy's stock fell by 5.01%, trading at 47.59 yuan per share, with a transaction volume of 709 million yuan and a turnover rate of 3.64%. The total market capitalization is 23.954 billion yuan [1]. Fund Holdings - According to data, one fund under Dongfang Fund holds a significant position in Penghui Energy. The Dongfang Low Carbon Economy Mixed A Fund (021094) held 51,300 shares in the third quarter, accounting for 4.08% of the fund's net value, making it the fifth-largest holding. The estimated floating loss for today is approximately 128,800 yuan [2]. Fund Performance - The Dongfang Low Carbon Economy Mixed A Fund (021094) was established on March 4, 2025, with a latest scale of 24.1872 million yuan and has achieved a return of 12.33% since inception. The fund manager, Li Rui, has been in position for 7 years and 344 days, overseeing total assets of 10.559 billion yuan, with the best fund return during his tenure being 137.37% and the worst being -23.4% [2].

Group 1 - The core viewpoint of the news is that Penghui Energy experienced a decline in stock price and significant trading activity on November 20, with a net financing outflow [1] - On November 20, Penghui Energy's stock fell by 4.39%, with a trading volume of 1.584 billion yuan, and a net financing buy of -25.64 million yuan [1] - As of November 20, the total margin balance for Penghui Energy was 654 million yuan, with a financing balance of 651 million yuan, accounting for 2.58% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - As of September 30, the number of shareholders for Penghui Energy was 70,000, a decrease of 1.34% from the previous period, while the average circulating shares per person increased by 1.36% to 5,771 shares [2] - For the period from January to September 2025, Penghui Energy achieved operating revenue of 7.581 billion yuan, a year-on-year increase of 34.23%, and a net profit attributable to shareholders of 115 million yuan, up 89.33% year-on-year [2] - Since its A-share listing, Penghui Energy has distributed a total of 252 million yuan in dividends, with 99.2472 million yuan distributed over the past three years [2]

Core Viewpoint - The global commercial and industrial energy storage shipments are projected to reach 40 GWh in the first nine months of 2025, representing a year-on-year growth of 110% [1]. Group 1: Market Overview - The top 10 companies in the global commercial and industrial energy storage market include: Ruipu Lanjun, CATL, EVE Energy, Haicheng Energy, Fudi Battery, Penghui Energy, Guoxuan High-Tech, Chuangneng New Energy, Zhongchu Innovation, and Ganfeng Lithium [1].