Group 1 - The core viewpoint of the news is that Zhaoshi Investment has conducted research on Nandu Power, a company specializing in energy storage, which has shown a significant decline in revenue but has managed to turn a profit in the second quarter due to high-margin orders and growth in the data center market [1] - Nandu Power was established in 1994 and focuses on providing lithium-ion and lead batteries, serving over 160 countries and regions globally [1] - The company's revenue for the first half of 2025 is approximately 3.923 billion yuan, a year-on-year decrease of 1.8 billion yuan, with a net profit of approximately -230 million yuan [1] Group 2 - In the second quarter, Nandu Power achieved a profit of approximately 34 million yuan, with a net cash flow from operating activities of 590 million yuan [1] - The company has a current lithium battery cell production capacity of 10 GWh and is advancing projects in Huatuo Phase II and Yangzhou, while reducing production in the recycled lead sector [1] - Nandu Power has developed large-capacity iron-lithium storage cells and completed the development of a 5 MWh liquid-cooled storage system [1] Group 3 - The company has an order backlog of 7.8 GWh, with 2.3 GWh from overseas markets, primarily in Australia, Europe, the UK, and the Middle East [1] - Nandu Power has won multiple high-voltage lithium battery data center projects, with an order backlog of approximately 0.8 GWh, and is developing third-generation high-voltage lithium battery products [1] - The company is focusing on customer demand and technological innovation to build core competitiveness, adopting a dual-driven model of "technology research and development + market expansion" [1]
【私募调研记录】兆石投资调研南都电源