Core Insights - The company is a global leader in portable energy storage and is expected to become a supplier of household green energy solutions in the future [1] - The portable energy storage industry is experiencing rapid growth, with the company maintaining a significant market share due to its lightweight and high-capacity product advantages [1][2] - The company is expanding into new categories such as mobile home storage and balcony solar storage, which are anticipated to drive a second growth curve [2] Group 1: Company Overview - The company was established in 2011 and focuses on consumer-grade green energy solutions, covering portable storage, balcony solar storage, and mobile home storage [1] - By the first half of 2025, the company's business is expected to cover over 50 major countries and regions globally [1] - From 2014 to 2024, the company's revenue and net profit attributable to shareholders are projected to grow at CAGRs of 38.9% and 47.3%, respectively [1] Group 2: Industry Growth - The global portable energy storage industry is expected to maintain double-digit growth from 2024 to 2029, with trends leaning towards larger capacity, higher safety, and lightweight products [1] - The company has positioned itself advantageously in the current product iteration cycle, focusing on lightweight and cost-effective new products [1] - The company regained the top market share in key channels such as Amazon in the U.S. and Japan during the first ten months of 2025 [1] Group 3: New Product Categories - The global household energy storage market has significant growth potential, with an expected new installation scale of 18.6 GWh in 2024 and a projected CAGR of over 14% from 2024 to 2030 [2] - The company is rapidly entering the household energy storage sector with products like the Jackery Solar Generator 5000Plus, which features notable lightweight advantages [2] - The second-generation DIY balcony solar storage system, HomePower 2000 Ultra, offers high power, plug-and-play functionality, and cost-effectiveness, contributing to a 106.4% year-on-year revenue growth in the European market for the balcony solar storage category in the first half of 2025 [2] Group 4: Financial Projections - The company's net profit attributable to shareholders is projected to be 230 million, 500 million, and 790 million yuan for the years 2025, 2026, and 2027, with year-on-year growth rates of -3.8%, +117.7%, and +57.2%, respectively [3] - As of November 25, 2025, the price-to-earnings ratios are expected to be 43, 20, and 12 times for the years 2025, 2026, and 2027 [3] - The company is compared with peers such as Deye Technology, Jinlang Technology, and Goodwe, with a solid foundation in portable energy storage and promising new product categories expected to drive growth [3]

新京报贝壳财经讯 11月26日，华宝新能公告，公司与深圳市全景蓝图资本有限责任公司共同投资设立 厦门全景蓝图创业投资基金合伙企业(有限合伙)。公司作为有限合伙人，以自有资金认缴出资3000万元 人民币，占基金合伙企业认缴出资额的96.7742%。基金合伙企业为专项基金，将专项投资于广东正扬 传感科技股份有限公司。 ...

Core Viewpoint - Huabao New Energy (301327.SZ) aims to expand its business scope by leveraging the strengths and resources of professional institutions to integrate various resources for long-term investment returns and enhance overall competitiveness [1] Group 1 - Huabao New Energy has recently partnered with Shenzhen Qianjing Blueprint Capital to further its business expansion [1] - Qianjing Blueprint Capital will serve as the general partner and executive partner of the fund partnership, with its shareholder, Blueprint Innovation Investment Management (Beijing) Co., Ltd., acting as the fund manager [1]

Group 1 - The core viewpoint of the article is that Huabao New Energy (301327.SZ) is rated as "Overweight" by Huayuan Securities due to its leading position in the portable energy storage market and potential to become a household green energy solution provider [1] - The portable energy storage industry is experiencing rapid growth, with the company showcasing significant advantages in lightweight new products and continuously increasing market share [1] - New product categories such as mobile home storage and balcony solar storage are expected to open a second growth curve for the company [1]

Core Viewpoint - Huabao New Energy (301327.SZ) has signed a partnership agreement with Shenzhen Panorama Blueprint Capital to establish the Xiamen Panorama Blueprint Venture Capital Fund, which will specifically invest in Zhengyang Technology, a global automotive parts supplier [1] Investment Details - The company will invest 30 million yuan as a limited partner in the fund, assuming limited liability up to the amount of its investment [1] - The fund will focus on investing in Zhengyang Technology, which specializes in SCR post-processing sensors, urea tank assemblies, VCU, and PTC heaters for the new energy sector [1] Strategic Implications - Zhengyang Technology has over 100 first-tier supplier qualifications with global OEMs and has established a supply chain cooperation with Huabao New Energy [1] - Starting in 2025, Huabao will procure communication harnesses and other raw materials from Zhengyang Technology, with cumulative procurement amounting to 1.3272 million yuan as of the end of September [1] - This investment is expected to help the company leverage Zhengyang Technology's customer channels, technological expertise, and overseas presence to penetrate the trillion-yuan new energy vehicle market, expanding B-end application scenarios and establishing a second growth curve [1]

Core Viewpoint - Huabao New Energy (301327.SZ) has signed a partnership agreement with Shenzhen Panorama Blueprint Capital to establish the Xiamen Panorama Blueprint Venture Capital Fund, which will specifically invest in Zhengyang Technology, a global automotive parts supplier [1] Investment Details - The company will invest 30 million yuan as a limited partner in the fund, assuming limited liability up to the amount of its investment [1] - The fund will focus on investing in Zhengyang Technology, which specializes in SCR post-processing sensors, urea tank assemblies, VCU, and PTC heaters for the new energy sector [1] Strategic Implications - Zhengyang Technology has over 100 first-tier supplier qualifications from global OEMs and has established a supply chain cooperation with the company, with cumulative procurement amounting to 1.3272 million yuan as of the end of September [1] - This investment is expected to help the company leverage Zhengyang Technology's customer channels, technological expertise, and overseas presence to penetrate the trillion-yuan new energy vehicle market, expanding B-end application scenarios and establishing a second growth curve [1]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage in the market [5][10][44]. Core Insights - The company is a global leader in portable energy storage and is expected to become a supplier of green energy solutions for households. Established in 2011, it has expanded its business into portable storage, balcony solar storage, and mobile home storage, covering over 50 countries as of mid-2025. The company's revenue and net profit have shown impressive compound annual growth rates (CAGR) of 38.9% and 47.3% from 2014 to 2024, respectively [5][16][44]. Summary by Sections Market Performance - The portable energy storage industry is experiencing rapid growth, with the company benefiting from significant advantages in lightweight new products. The global market for portable energy storage is expected to maintain double-digit growth from 2024 to 2029, driven by trends towards larger capacity, higher safety, and lightweight products. The company regained the top market share in key channels like Amazon in the U.S. and Japan during the first ten months of 2025 [6][20][28]. New Product Categories - The company is entering new growth curves with mobile home storage and balcony solar storage. The global household energy storage market has substantial growth potential, with an expected installation capacity of 18.6 GWh in 2024. The company has launched innovative products like the Jackery Solar Generator 5000 Plus and the second-generation DIY balcony solar storage system, which have shown significant revenue growth in Europe [7][35][36]. Profit Forecast and Valuation - The company is projected to achieve net profits of 230 million, 502 million, and 789 million yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of -3.8%, +117.7%, and +57.2%. The price-to-earnings (P/E) ratios are expected to be 43, 20, and 12 for the same years. The company is compared with peers like Deye, Jinlang Technology, and Goodwe, indicating a solid foundation in portable energy storage and promising new product launches [8][10][44].

证券代码：301327 证券简称：华宝新能 公告编号：2025-065 深圳市华宝新能源股份有限公司 关于与专业投资机构共同投资设立基金的公告 本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。 一、与专业投资机构共同投资的概述 为进一步拓展业务领域，借助专业机构的力量与资源优势，整合多方资源以 获取长期投资回报、提升综合竞争力，深圳市华宝新能源股份有限公司（以下简 称"公司"或"华宝新能"）近日与深圳市全景蓝图资本有限责任公司（以下简 称"全景蓝图资本"或"执行事务合伙人"）共同签署了《厦门全景蓝图创业投 资基金合伙企业（有限合伙）有限合伙协议》，双方共同投资设立厦门全景蓝图 创业投资基金合伙企业（有限合伙）（以下简称"厦门全景蓝图创投基金"或"基 金合伙企业"）。其中，公司作为有限合伙人，以自有资金认缴出资 3,000 万元 人民币，以认缴出资额为限承担有限责任。基金合伙企业为专项基金，基金备案 成立后将专项投资于广东正扬传感科技股份有限公司（以下简称"正扬科技"）。 全景蓝图资本担任基金合伙企业的普通合伙人及执行事务合伙人，其股东蓝 图创新投资管理（北京）有 ...

Core Viewpoint - The company, Huabao New Energy, is experiencing growth in its portable solar energy products and has strategic partnerships to develop sodium-ion batteries, benefiting from the depreciation of the RMB and a strong overseas revenue stream [2][4]. Company Overview - Huabao New Energy, established in 2011, focuses on the research, development, production, and sales of lithium battery storage products, with portable storage products as its core offering [3][8]. - The company has developed strong supplier relationships with high-quality partners such as Panasonic, LG Chem, and BYD, and has expanded its customer base to include well-known brands like Tesla and BMW [3]. Financial Performance - For the period from January to September 2025, Huabao New Energy reported a revenue of 2.942 billion yuan, representing a year-on-year growth of 37.95%, while the net profit attributable to shareholders decreased by 10.62% to 143 million yuan [8]. - The company's overseas revenue accounted for 95.09% of total revenue, benefiting from the depreciation of the RMB [4]. Market Activity - On November 24, the stock price of Huabao New Energy increased by 1.58%, with a trading volume of 67.8138 million yuan and a turnover rate of 1.59%, bringing the total market capitalization to 9.757 billion yuan [1]. - The stock has shown signs of accumulation, but the strength of this accumulation is not strong, with the average trading cost at 64.91 yuan and the stock price approaching a resistance level of 57.52 yuan [7]. Shareholder Composition - As of September 30, 2025, the number of shareholders decreased by 0.13% to 13,400, with an increase of 58.63% in the average number of circulating shares per person [8][9]. - New institutional shareholders include Huaxia Blue Chip Mixed Fund and others, while several previous major shareholders have exited the top ten list [9].

证券日报网讯 华宝新能11月21日在互动平台回答投资者提问时表示，公司一直以来注重研发技术团队 的培养与优化，研发团队负责人及骨干成员均具备多年行业的研发经验。同时公司积极实施多元化管理 策略，并建立长效激励机制，吸引和留住优秀研发人才。在开发流程中，为了提高研发产品的可靠性， 公司导入先进的汽车行业V-model研发模式，严格执行"项目前期风险评估、中期评审、后期监控"的质 量管控三步骤，确保最大程度降低项目风险、满足客户需求。经过持续的研发投入及高效的研发转化， 公司在全球累计布局储能及光伏专利超2000项，技术及产品实力处于行业领先水平。 （编辑 楚丽君） ...