Core Viewpoint - Huabao New Energy's revenue growth significantly improved in Q2 2025, with a focus on new product performance and profit elasticity, maintaining a "Buy" rating [1] Revenue Growth by Region - In H1 2025, revenue growth rates by region were as follows: North America +43%, Asia (excluding China) +32%, Europe +106%, and other regions +86% [1] - It is anticipated that Q2 2025 revenue growth in North America, Asia (excluding China), and Europe will improve sequentially compared to Q1 [1] Market Demand and Inventory - The European market is experiencing improved demand following inventory destocking, while North America and the Asia-Pacific markets are expected to see continued market share growth driven by new products [1] Revenue Growth by Channel - In H1 2025, revenue growth rates by channel were: independent websites +55% and offline retail +46%, compared to Q1 growth rates of +42% and +30% respectively [1] Revenue Growth by Product - In H1 2025, revenue growth rates by product were: portable energy storage +39% and photovoltaic solar panels +53% [1] Future Outlook - The company is optimistic about the increase in market share for portable energy storage due to differentiated advantages of new products (extremely portable products) and the gradual contribution of mobile home storage products [1] - Profit margins are expected to marginally recover due to ongoing cost reductions, diminished negative impacts from tariffs, and an increased proportion of new products [1]

开源证券股份有限公司吕明,林文隆近期对华宝新能进行研究并发布了研究报告《公司信息更新报告： 2025Q2海外各区域营收增速显著提升，关注后续移动家储产品及利润弹性》，给予华宝新能买入评级。 华宝新能(301327) 2025Q2营收增速显著提升，关注新品表现及利润弹性，维持"买入"评级公司发布2025H1业绩报告， 2025Q2公司实现营收9.2亿元(同比+64.9%，下同)，归母净利润0.38亿元(-14.41%)，扣非归母净利润0.1亿 元(-63%)。短期利润阶段性受关税扰动，但长期新品占比提升+海外产能爬坡有望带动业绩维持高增，我 们调整2025-2027年盈利预测，预计2025-2027年归母净利润为3.84/5.96/7.72亿元(原值为4.07/5.37/6.63亿 元)，对应EPS为3.08/4.78/6.19元，当前股价对应PE为19.3/12.4/9.6倍，考虑到公司产品推新速度加快且新 品具备一定差异化，以及移动家储产品逐步放量，维持"买入"评级。 2025Q2海外各区域增速环比提升，核心地区份额或持续提升 分区域，2025H1北美/亚洲(不含中国)/欧洲/其他地区营收同比分别+43%/ ...

每经AI快讯，华宝新能（SZ 301327，收盘价：59.45元）发布公告称，2025年8月25日，华宝新能接受 财通证券等投资者调研，公司董事长、总经理孙中伟等人参与接待，并回答了投资者提出的问题。 2025年1至6月份，华宝新能的营业收入构成为：锂离子电池产业链相关业务占比100.0%。 截至发稿，华宝新能市值为104亿元。 每经头条（nbdtoutiao）——租下2.5万亩"试验田"，兽医学博士在非洲种粮：首季亩产250斤，打算扩至 10万亩，月薪1~2万元招人 （记者 曾健辉） ...

2、行业竞争态势及公司三季度业绩展望 证券代码：301327 证券简称：华宝新能 深圳市华宝新能源股份有限公司 投资者关系活动记录表 编号：2025-002 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | | 财通证券、东方财富证券、光大证券、国泰海通证券、国信证券、 | | | 华创证券、华泰证券、麦高证券、民生证券、瑞银证券、山西证 | | | 券、信达证券、兴业证券、甬兴证券、粤开证券、招商证券、浙 | | | 商证券、中国银河证券、中泰证券、中邮证券、东吴证券、广发 | | 参与单位名 | 证券、国盛证券、华福证券、天风证券、西部证券、长江证券、 | | 称 | 中金公司、中信建投证券、中信证券、国金证券、华西证券、开 | | | 源证券、NasTyx Cap、Point72、Tianshi、耕霁（上海）投资、国 | | | 泰海通证券资管、上海和谐汇一资管、申万菱信基金、万家基金、 | | | 物产中大集团 ...

天眼查商业履历信息显示，深圳市华宝新能源股份有限公司，成立于2011年，位于深圳市，是一家以从 事其他制造业为主的企业。企业注册资本17438.1356万人民币，实缴资本2500万人民币。公司法定代表 人为孙中伟。 通过天眼查大数据分析，深圳市华宝新能源股份有限公司共对外投资了2家企业，参与招投标项目11 次，知识产权方面有商标信息154条，专利信息1383条，此外企业还拥有行政许可35个。 金融界消息 截至2025年8月25日收盘，华宝新能（301327）报收于59.45元，下跌5.23%，换手率 16.49%，成交量7.94万手，成交金额4.75亿元。 资金流向方面，今日主力资金净流入1382.33万元，占比成交额2.91%。其中，超大单净流入207.83万 元、占成交额0.44%，大单净流入1174.50万元、占成交额2.47%，中单净流出流入3226.51万元、占成交 额6.8%，小单净流出4608.84万元、占成交额9.71%。 华宝新能最新一期业绩显示，截至2025中报，公司营业总收入16.37亿元、同比增长43.32%，归属净利 润1.23亿元，同比增长68.31%，扣非净利润7589.59万元 ...

Core Viewpoint - The company, Huabao New Energy, is experiencing fluctuations in stock performance and is focusing on the development of sodium-ion batteries and other energy storage solutions, benefiting from the depreciation of the RMB [2][3]. Company Overview - Huabao New Energy, established on July 25, 2011, is located in Longhua District, Shenzhen, and specializes in the research, production, and sales of lithium battery storage products, with portable energy storage products being the core offering [7]. - The company's revenue composition includes 77.46% from portable energy storage products, 20.84% from photovoltaic solar panels, and 1.37% from other products [7]. - As of June 30, 2025, Huabao New Energy reported a revenue of 1.637 billion yuan, representing a year-on-year growth of 43.32%, and a net profit attributable to shareholders of 123 million yuan, up 68.31% year-on-year [7]. Strategic Developments - On July 11, 2023, the company announced a strategic partnership with Zhongbi New Energy to jointly develop sodium-ion batteries, leveraging both parties' technological strengths [2]. - The company is utilizing advanced IBC battery technology in its portable solar products, achieving a conversion efficiency of up to 25% [2]. Market Position and Financials - As of August 25, 2023, Huabao New Energy's stock price fell by 5.23%, with a trading volume of 475 million yuan and a market capitalization of 10.367 billion yuan [1]. - The company has a significant overseas revenue share of 95.09%, benefiting from the depreciation of the RMB [3]. Shareholder and Institutional Holdings - As of June 30, 2025, the number of shareholders increased by 15.49% to 13,400, with an average of 3,580 shares held per person, up 20.37% [7]. - Notable institutional shareholders include Guangfa High-end Manufacturing Stock A and Hong Kong Central Clearing Limited, with significant increases in holdings [8].

Group 1 - The stock price of Huabao New Energy (301327.SZ) closed at 59.45 yuan, reflecting a decline of 5.23% and is currently in a state of breaking issue [1] - Huabao New Energy was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on September 19, 2022, with an issuance of 24,541,666 shares, accounting for 25.56% of the post-issue total share capital, at an issue price of 237.50 yuan per share [1] - The total amount raised from the initial public offering (IPO) was 582,864.57 million yuan, with a net amount of 559,459.64 million yuan after deducting issuance costs, which was 491,839.64 million yuan more than the original plan [1] Group 2 - The company announced a profit distribution plan for 2022, where it will distribute cash dividends of 20.83 yuan per 10 shares (including tax), totaling 199,968,000.00 yuan, and will also increase the share capital by 3 shares for every 10 shares held, resulting in an increase of total share capital to 124,800,000 shares [2] - The profit distribution plan is subject to adjustments based on any changes in total share capital between the announcement and the implementation date, while maintaining the fixed total cash dividend amount [2] Group 3 - For the 2024 profit distribution plan, the company will distribute cash dividends of 11.50 yuan per 10 shares (including tax) based on a total share capital of 123,953,391 shares after deducting treasury shares, and will also increase the share capital by 4 shares for every 10 shares held [3] - The tax treatment for dividends varies for different types of shareholders, with specific rates for Hong Kong investors and domestic investors [3]

Core Insights - Huabao New Energy (301327.SZ) reported a total operating revenue of 1.637 billion yuan for the first half of 2025, an increase of 495 million yuan compared to the same period last year, marking a year-on-year growth of 43.32% [1] - The net profit attributable to shareholders reached 123 million yuan, up by 49.75 million yuan from the same period last year, reflecting a year-on-year increase of 68.31% [1] - The company experienced a negative net cash flow from operating activities of 564 million yuan [1] Financial Performance - The latest asset-liability ratio stands at 14.50% [1] - The gross profit margin is reported at 41.75% [1] - The return on equity (ROE) is 1.98%, an increase of 0.78 percentage points compared to the same period last year [1] - The diluted earnings per share (EPS) is 0.71 yuan, an increase of 0.29 yuan from the same period last year, representing a year-on-year growth of 69.05% [1] - The total asset turnover ratio is 0.22 times, an increase of 0.06 times year-on-year, reflecting a growth of 34.45% [1] - The inventory turnover ratio is reported at 1.03 times [1] Shareholder Structure - The number of shareholders is 13,400, with the top ten shareholders holding a total of 134 million shares, accounting for 77.09% of the total share capital [1] - The top ten shareholders and their respective holdings are as follows: - Shenzhen Jubao Xintai Holdings Co., Ltd.: 32.0% - Sun Zhongwei: 18.31% - Shenzhen Jiameisheng Enterprise Management Partnership (Limited Partnership): 8.77% - Wen Meichan: 5.87% - Shenzhen Jiameihui Enterprise Management Consulting Partnership (Limited Partnership): 5.84% - Shenzhen Chengqianyi Enterprise Management Consulting Partnership (Limited Partnership): 1.52% - Chen Kaihua: 1.41% - Shanghai Pudong Development Bank Co., Ltd. - GF High-end Manufacturing Equity Fund: 1.40% - Hong Kong Central Clearing Limited: 1.24% - Bank of Communications Co., Ltd. - HSBC Jin Xin Core Growth Mixed Fund: 0.65% [1]

转自：中国证券报·中证网 中证报中证网讯（王珞）8月22日晚，华宝新能披露2025年半年度报告，上半年公司实现营业收入16.37 亿元，同比增长43.32%；净利润1.23亿元，同比增长68.31%。华宝新能表示，业绩增长得益于公司聚焦 消费级全场景光伏储能解决方案，积极拓展全球市场成效显著。 根据报告，在市场拓展方面，北美地区作为华宝新能核心市场营收同比增长42.86%，保持了稳健的增 长态势。在新兴市场中，欧洲市场表现尤为突出，营收同比增长106.42%，亚洲市场（不含中国）也实 现了31.92%的同比增长。 华宝新能称，取得上述成绩得益于公司构建的"官网独立站+第三方电商平台+线下零售"三位一体的全 球渠道网络：品牌官网独立站营收同比增长55.25%，占总营收的比重达29.41%；线下渠道与Costco、 Lowe's、Home Depot、Best Buy等全球知名零售商展开深度合作，产品入驻超1万家店铺，营收同比增 长45.85%，品牌的市场渗透率与话语权持续提升。截至报告期末，公司产品累计销量近600万台，稳居 行业前列。 报告中提到，在研发创新方面，今年上半年，公司研发投入达7616.38万元， ...

（二）募集资金使用和结余情况 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：301327 证券简称：华宝新能 公告编号：2025-042 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 根据中国证券监督管理委员会《上市公司募集资金监管规则》（证监会公告〔2025〕10号）和深圳证券 交易所印发的《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作（2025年修 订）》（深证上〔2025〕481号）的规定，深圳市华宝新能源股份有限公司（以下简称为"公司"或"华宝 新能"）募集资金2025年半年度存放与使用情况专项说明如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意深圳市华宝新能源股份有限公司首次公开发行股票注册的批 复》（证监许可〔2022〕1175号），本公司由主承销商华泰联合证券有限责任公司采用余额包销方式， 向社会公众公开发行人民币普通股（A股）股票24,541,666股，发行价为每股人民币237.50元，共计募集 资金5,828,645,675.00元，坐扣不含税保荐及 ...