CATL(SZ:300750) Cai Jing Wang·2025-08-02 13:18Core Viewpoint - The recent legal issues surrounding Feng Dengke, a senior executive at Haicheng Energy, have raised concerns about potential impacts on the company's operations and its IPO process, particularly as the case involves allegations of trade secret infringement initiated by CATL, a major player in the energy storage industry [1][3][4]. Group 1: Incident Overview - Feng Dengke has been taken into custody by the police due to allegations of commercial secret infringement, with CATL being the complainant [1]. - Haicheng Energy confirmed the investigation into Feng Dengke, stating that the case is still under investigation [2]. - The case is reportedly linked to patent infringement, particularly concerning the transfer of multiple "collective fluid" related patents from Shenzhen Haihong New Energy Technology Co., Ltd. to Haicheng Energy [2]. Group 2: Background and Implications - Feng Dengke's career trajectory includes a stint at CATL before moving to a supplier, Jinmei New Materials, which was involved in a project for CATL, and later joining Haicheng Energy [3]. - The timing of the legal issues coincides with Haicheng Energy's efforts to pursue an IPO, raising questions about the potential impact on the company's business operations and IPO timeline [3][4]. - Haicheng Energy has stated that Feng Dengke is not part of its executive team and that the alleged infringement does not affect the company's production or operations significantly [4]. Group 3: Competitive Landscape - The competitive environment in the energy storage sector has intensified, with CATL increasingly vigilant about patent infringements and unfair competition, having previously filed lawsuits against several competitors [4]. - The relationship between CATL and Haicheng Energy is strained, with historical legal disputes involving key executives from Haicheng Energy who previously worked at CATL [4].