| 代码 | 名称 | ● | 涨幅%↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688411 | 海博思创 | + | 12.76 | 318亿 | 825.38 | | 301327 | 华宇新能 | 安 | 6.54 | 124亿 | 32.07 | | 002121 | 科陆电子 | 1 | 4.90 | 128亿 | 77.01 | | 300068 | 南都电源 | 家 | 4.88 | 162亿 | 11.83 | | 688063 | 派能科技 | t | 4.75 | 153亿 | 56.82 | | 600847 | 万里股份 | | 4.04 | 17.35亿 | 39.75 | | 601311 | 骆驼股份 | 1 | 3.78 | 122亿 | 30.11 | | 002580 | 圣阳股份 | | 3.40 | 70.35亿 | 83.30 | 中信建投近日发布研报指出，储能是电新行业增速最快、投资性价比最高的板块之一，但近期市场表现 一般。我们认为预期差主要在于：量的方面，市场认为中东等地项目的快速释放 ...

MACD金叉信号形成，这些股涨势不错！ 格隆汇9月5日｜A股市场储能概念股走强，其中，海博思创涨超12%，华宝新能涨超6%，科陆电子、南 都电源、派能科技、万里股份涨超4%，骆驼股份、圣阳股份涨超3%。 | 代码 | 名称 | | 涨幅%↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688411 | 海博思创 | + | 12.76 | 318亿 | 825.38 | | 301327 | 华宇新能 | 家 | 6.54 | 124亿 | 32.07 | | 002121 | 科陆电子 | 1 | 4.90 | 128亿 | 77.01 | | 300068 | 南都电源 | 章 | 4.88 | 162亿 | 11.83 | | 688063 | 派能科技 | + | 4.75 | 153亿 | 56.82 | | 600847 | 万里股份 | | 4.04 | 17.35亿 | 39.75 | | 601311 | 骆驼股份 | 1 | 3.78 | 122亿 | 30.11 | | 002580 | 圣阳股份 | | 3.40 ...

4、自2011年成立以来，公司一直聚焦于锂电池储能领域。在设立之初，公司以充电宝的ODM业务为 主，随着业务的持续发展，公司在锂电池电源管理、工业设计、结构设计等方面的技术积累不断加深， 并积累了松下、LG化学、比克电池、安富利等高质量的供应商资源，拓展了包括特斯拉、宝马、超霸 电池、DSG、ClasOhlson等知名客户，产供销体系日益完善，公司实力逐步增强。 来源：新浪证券-红岸工作室 9月3日，华宝新能涨4.79%，成交额4.15亿元，换手率12.76%，总市值117.55亿元。 异动分析 钠离子电池+特斯拉概念+锂电池概念+储能+人民币贬值受益 3、公司主要从事锂电池储能类产品及其配套产品的研发、 生产及销售， 属于锂电池储能行业。 1、2023年7月11日互动易：公司与中比新能源达成战略合作，将依托双方的行业技术优势，共同开发钠 离子电池，探索钠离子电池在终端产品的应用。 2、自2011年成立以来，公司一直聚焦于锂电池储能领域。在设立之初，公司以充电宝的ODM业务为 主，随着业务的持续发展，公司在锂电池电源管理、工业设计、结构设计等方面的技术积累不断加深， 并积累了松下、LG化学、比克电池、安富利等 ...

Group 1 - The report on overseas mutual funds indicates that as of March 31, 2025, there were 1,532 mutual funds holding A-shares with a total scale of $1.9 trillion, showing a slight decrease in both number and scale compared to previous periods [9][10][11] - The performance of overseas mutual funds investing in A-shares was notably differentiated, with active funds outperforming passive funds, achieving an average return of 0.51% and a median return of 0.28% [10] - The report highlights that overseas mutual funds increased their holdings in the home appliance, transportation, and computer sectors while reducing their investments in power equipment and new energy sectors [10][11] Group 2 - The report on Shenzhen Circuit (002916.SZ) forecasts revenue for 2025-2027 to be 22.134 billion, 26.330 billion, and 30.087 billion yuan respectively, with net profit expected to be 3.273 billion, 4.278 billion, and 5.154 billion yuan [12] - The target market capitalization for Shenzhen Circuit in 2026 is projected to be 162.572 billion yuan, with a target price of 243.83 yuan, and the report initiates coverage with a "buy" rating [12] - The report emphasizes the company's strong position in the PCB market, particularly in data center and communication sectors, with significant growth potential driven by advancements in AI and high-speed communication technologies [13][14] Group 3 - The report on Tunan Co., Ltd. (300855.SZ) indicates that the company is one of the few in China capable of mass-producing both deformed and cast high-temperature alloys, with a focus on aerospace and nuclear power applications [17][18] - The company is expected to achieve a revenue growth rate of 25.10% and a net profit growth rate of 25.10% from 2020 to 2024, with projected revenues of 1.258 billion yuan and net profits of 267 million yuan in 2024 [17] - Tunan's order backlog reached a historical high of 1.75 billion yuan as of the first half of 2025, reflecting a year-on-year increase of 236.5% [18] Group 4 - Alibaba's self-developed AI chips are aimed at meeting its own AI inference needs, with a planned investment of 380 billion yuan over the next three years to enhance its AI capabilities [20][21] - The report notes that Alibaba's AI inference chip, Hanguang 800, has surpassed NVIDIA's T4 and P4 in certain performance metrics, indicating a strong competitive position in the AI chip market [20] - The report highlights the potential for growth in power supply and liquid cooling technologies as major cloud service providers increase their investment in AI chips [22]

"华宝新能（301327）不只是卖储能或光伏产品，而是基于全球用户需求，研发消费级光伏储能绿色能 源解决方案。公司早在十年前就开始布局光伏和储能领域，同步推进研发、制造、品牌建设和渠道服 务。"华宝新能董事长孙中伟在交流会上表示。 这一增长源于战略重构：从光充户外电源扩展到阳台光伏储能系统，再到屋顶曲面光伏瓦储能系统。公 司不断扩张消费级光伏储能产品边界，消费级光伏储能全场景解决方案已成为增长新引擎，屋顶曲面光 伏瓦作为中长期储备，眼光从产品转向场景，从供应链向生态链延伸，野心是让光伏储能成为全球家庭 能源"基础设施"。 驱动战略的核心是技术驱动与智能制造的双轮引擎：公司以前瞻性视野持续投入研发，构建起覆盖光伏 储能全链路的千项专利壁垒，并通过自动化产线实现技术成果的快速产业化。这不仅在同质化竞争中建 立起坚实的护城河，更以"研发-制造-用户"的高效闭环，实现对消费需求的精准响应与生态化布局。 战略实施依托的是M2C（Manufacturers to Consumer）模式：从研发直连用户，到全球渠道网络触达消 费者。这种"去经销商化"打法，正重塑家庭储能标准化和渠道范式。上半年，公司销售费用率同比降 0.9 ...

Group 1 - The core viewpoint of the article emphasizes the growth and potential of the home energy storage and portable energy storage markets, highlighting significant increases in shipment volumes and market forecasts for 2024 and beyond [3][4][10] - The global home energy storage shipment volume is projected to reach 27.8 GWh in 2024, with a year-on-year growth of 19%, and China accounting for 75% of the shipments [3] - The global portable energy storage shipment volume is expected to reach 11 million units in 2024, reflecting a remarkable year-on-year growth of 90% [4] Group 2 - The article outlines that by 2030, the global home energy storage market is anticipated to grow to 180 GWh, representing a 547% increase from 2024 [3] - The competitive landscape for home energy storage systems is dominated by Chinese companies, with the top 10 global players including Huawei, BYD, and Airo Energy [3] - The portable energy storage market is also experiencing rapid growth, with the fastest growth expected in Ukraine due to energy shortages caused by the ongoing conflict [4] Group 3 - The upcoming 2025 Peak Forum on Home and Portable Energy Storage Battery Technology will focus on high safety standards and building a new ecosystem for the industry [6][8] - The forum will gather over 600 decision-makers from leading companies to discuss technological breakthroughs and safety challenges [10][11] - Key topics at the forum will include the design of multi-level safety protection systems for home energy storage and the application of solid-state batteries in portable energy storage [9][10]

Core Points - The establishment of the Strategic Committee aims to enhance the company's core competitiveness and improve the quality of major investment decisions [1][2] - The Strategic Committee is responsible for researching long-term strategic planning and major investment feasibility, reporting to the Board of Directors [1][2] Group 1: General Provisions - The Strategic Committee is a specialized working body set up by the Board of Directors to focus on the company's long-term development strategy [1] - The committee consists of five directors, including at least one independent director [1][2] Group 2: Responsibilities and Authority - The main responsibilities of the Strategic Committee include researching long-term strategic planning, major investment and financing proposals, and other significant matters affecting the company [2][3] - The committee is accountable to the Board of Directors and must submit resolutions and related proposals for approval [2][3] Group 3: Decision-Making Procedures - An Investment Review Group is established under the Strategic Committee, led by the Chairman, to prepare for decision-making [3] - The decision-making process involves initial reviews, proposal submissions, and discussions at committee meetings before presenting to the Board [3][4] Group 4: Meeting Rules - The Strategic Committee holds regular and temporary meetings, with at least one regular meeting per year [4][5] - Meetings require a two-thirds attendance of committee members to be valid, and decisions must be approved by a majority [5][6] Group 5: Confidentiality and Conflict of Interest - Members and attendees of the meetings are obligated to maintain confidentiality regarding discussed matters [5][6] - Members with direct or indirect interests in agenda items must abstain from voting on those items [6]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% against the market benchmark within the next six months [20]. Core Insights - The company reported a revenue of 1.64 billion yuan for the first half of 2025, representing a year-on-year increase of 43%, with a net profit attributable to shareholders of 120 million yuan, up 68% year-on-year [2][8]. - The second quarter saw a revenue of 920 million yuan, a 65% increase year-on-year, but a net profit decrease of 14% compared to the previous year [2][3]. - The gross margin for Q2 was 39.85%, reflecting some dilution due to early shipments influenced by tariffs [3]. Revenue Breakdown - In H1 2025, portable energy storage products generated 1.27 billion yuan in revenue, a 39.2% increase year-on-year, with a gross margin of 41.3% [3]. - Solar panel revenue reached 340 million yuan, up 53% year-on-year, with a gross margin of 44.7% [3]. - North America saw a revenue of 920 million yuan, a 43% increase year-on-year, while Europe experienced a significant growth of 106% with 140 million yuan in revenue [4]. Market Strategy - The company is deepening partnerships with offline retailers, achieving a 55% year-on-year revenue increase from its independent website, which now accounts for 29% of total revenue [5]. - Collaborations with major retailers like Costco and Home Depot have led to product placements in over 10,000 stores, contributing to a 45.85% increase in revenue from offline channels [5]. Product Innovation - The company launched new products such as the DIY balcony energy storage system and a fast-charging outdoor power supply, catering to diverse household electricity needs [5]. Financial Forecast - The profit forecast for 2025-2027 has been adjusted to 290 million, 430 million, and 592 million yuan respectively, with year-on-year growth rates of 21%, 48%, and 38% [6]. - The corresponding price-to-earnings ratios are projected to be 39x, 26x, and 19x for the respective years [6].

2025起点户储及便携式储能电池技术论坛 时间： 2025年9月26日 地点：深圳 一 会议背景 户用储能： 起点研究院 SPIR调研数据显示，2024年全球户用储能出货规模为27.8GWh，同比增长19%，其中中国企业出货占比高达75%。 户储产品消费领先的国家/区域是欧洲、美国、乌克兰、日本、澳洲、非洲、中东、东盟、俄罗斯。欧洲仍是市场占比最大，最成熟的市场，但 是由于电价下降，增速明显下滑，2024年增速较快的市场是：美国、乌克兰、澳洲、南非、尼日利亚、巴西等国家。SPIR预测，2030年全球 户用储能市场将达到180GWh，相比2024年增长547%。 竞争格局方面， 中国户用储能系统全球出货量 TOP10企业是：华为、比亚迪、艾罗能源、派能科技、麦田能源、德业股份、沃太能源、首航 新能、安克创新和三晶股份。 便携式储能： 起点研究院 SPIR调研数据显示，2024年全球便携式储能电源出货规模为1100万台，同比增长90%。2024年便携式储能电源产 品消费领先的国家/区域是美国、欧洲、日本、乌克兰。美国是全球便携式储能市最大最成熟的市场，主要是美国的户外运动群体大，便携式储 能普及程度高，另外美国 ...

Core Viewpoint - Huabao New Energy (301327.SZ) reported significant revenue and profit growth for the first half of 2025, but a substantial negative shift in operating cash flow has raised market concerns [2][3]. Financial Performance - In H1 2025, the company achieved operating revenue of 1.637 billion yuan, a year-on-year increase of 43.32% [4]. - The net profit attributable to shareholders reached 122.59 million yuan, marking a substantial growth of 68.31% compared to the previous year [4]. - The net profit after deducting non-recurring items was 75.90 million yuan, reflecting an impressive increase of 88.72% [4]. - The company's net profit margin improved by 1.11 percentage points to 7.49%, indicating effective cost control [3]. - However, operating cash flow turned negative, dropping from 134.21 million yuan in the same period last year to -564.42 million yuan, a decline of 55.9% [4][3]. - The gross profit margin decreased from 46.39% to 41.75%, a drop of 4.64 percentage points, potentially due to rising raw material costs or product mix adjustments [3]. Market Performance - North America remains the core market, contributing 922 million yuan in revenue, a year-on-year growth of 42.86% [5][7]. - The European market saw explosive growth, with revenue soaring by 106.42% to over 100 million yuan, driven by favorable EU policies and effective product positioning [6][7]. - The Asian market (excluding mainland China) achieved a revenue of 466 million yuan, growing by 31.92% [5][7]. Product and Innovation - The Solar Generator outdoor power supply category performed exceptionally well, with revenue growth exceeding 60%, accounting for over 50% of total revenue [6]. - The new product "3000 Pro2" has been recognized for its lightweight and compact design, while the curved photovoltaic tile "Mo Yu/Chi Xia" received the first BIPV UL 7103 certification globally, enhancing the company's technological edge [6][9]. - The company has invested 76.16 million yuan in R&D in H1 2025, with a total of 1,939 patents globally, including 661 photovoltaic patents, reflecting a 49.89% increase [9]. Institutional Investment and Challenges - Despite strong performance, the number of institutional investors holding the company's stock plummeted from 169 to 7, raising concerns [11]. - The company's market capitalization stands at 10.939 billion yuan, having increased by 16.17% year-to-date, but still significantly below its historical peak [11]. - The asset-liability ratio increased by 2.37 percentage points to 14.50%, indicating a need for caution regarding leverage amid cash flow pressures [11]. Strategic Direction - The company is shifting its strategy from "scale expansion" to "quality improvement," focusing on a value chain that includes technological innovation, product iteration, channel penetration, brand premium, and efficiency enhancement [11].