CATL(SZ:300750) Shang Hai Zheng Quan Bao·2025-08-13 17:48Industry Overview - The recent EESA Energy Storage Exhibition highlighted a surge in demand for energy storage cells, with companies reporting full order books and delays in delivery [2] - The energy storage industry is experiencing a recovery in performance, driven by accelerated project implementation and positive signals from emerging market demand [2][4] Company Performance - CATL reported a revenue of 178.886 billion yuan for the first half of 2025, a year-on-year increase of 7.27%, with a net profit of 30.485 billion yuan, up 33.33% [3] - EVE Energy announced that it ranks second globally in energy storage battery shipments, projecting a shipment volume of 50.45 GWh in 2024, representing a year-on-year increase of 91.90% [4] - Other companies like Kelu Electronics and Far East Smarter Energy also reported turning profits in the first half of 2025, attributing their success to strategic partnerships and increased production capacity [4] Market Trends - The new energy storage installation capacity in China is expected to continue its explosive growth, with a cumulative installed capacity reaching 73.76 million kW by the end of 2024, which is approximately 20 times that of the end of the 13th Five-Year Plan [5] - The global battery storage system installation reached 86.7 GWh in the first half of 2025, a year-on-year increase of 54% [5] Challenges and Opportunities - Despite the positive growth, the energy storage industry faces challenges related to profit models, electricity pricing mechanisms, and power dispatch issues, which need to be addressed to unlock the full potential of energy storage [2][8] - Experts suggest that establishing a clear market position for new energy storage and allowing equal participation in the electricity market will be crucial for its development [9]