Core Viewpoint - Haibo Shichuang's first annual report post-IPO shows strong financial performance, indicating a promising future for the energy storage sector driven by renewable energy growth and supportive policies [1][2]. Financial Performance - In 2024, Haibo Shichuang achieved revenue of 8.27 billion yuan, a year-on-year increase of 18.44%, and a net profit of 648 million yuan, up 12.06%, with basic earnings per share at 4.86 yuan [1]. - The Q1 2025 report indicates revenue of 1.548 billion yuan, reflecting a 14.86% year-on-year growth [1]. Industry Growth and Trends - The National Energy Administration reported that in 2024, new renewable energy installations reached 373 million kilowatts, a 23% increase, accounting for 86% of new power installations [1]. - By the end of 2024, total renewable energy capacity in China reached 1.889 billion kilowatts, a 25% increase, with wind and solar power accounting for 1.408 billion kilowatts [1]. Storage Technology and Market Demand - The rise of renewable energy has increased the demand for energy storage solutions to address the intermittency and volatility of sources like wind and solar [1][4]. - Haibo Shichuang's storage systems are designed to mitigate issues such as "curtailment" of wind and solar power, enhancing the reliability and stability of the power system [4]. Strategic Initiatives - The company has launched a "Storage + X" strategy to explore new business models and applications across various sectors, including charging, oil fields, and data centers [4]. - Haibo Shichuang is expanding its manufacturing capabilities with new bases in regions like Gansu, aiming to support the growing demand for energy storage solutions [7]. Competitive Position - As of the end of 2024, Haibo Shichuang ranked first in the domestic energy storage system installation capacity, with a cumulative installed capacity of 73.76 million kilowatts [6][7]. - The company has established a comprehensive technology system from cell modeling to system integration, focusing on continuous innovation and R&D investment [7]. Future Outlook - The energy storage industry is expected to see significant growth opportunities, with a target of 30 million kilowatts of new storage capacity by 2025 as outlined in national policies [6]. - Haibo Shichuang aims to enhance its value management and collaborative innovation across the energy storage industry, contributing to a cleaner and more efficient energy system [8].
海博思创：营收净利双增 契合国家双碳发展要求 打造核心竞争力