HNAC(SZ:300490) Xin Lang Cai Jing·2025-08-28 13:36Group 1 - The company conducted an online roadshow on August 28, 2025, with four institutions participating in the research [1] - In the first half of 2025, the company experienced over 50% growth in new orders, with contract liabilities increasing by 363 million yuan, driven by business expansion and increased advance payments [2] - The lithium battery intelligent manufacturing equipment business performed exceptionally well, securing significant orders both domestically and internationally, including a recent large order exceeding 400 million yuan in Mongolia [2] Group 2 - The company is actively involved in the development of solid-state battery technology and has provided several semi-solid battery automatic production lines to leading enterprises, with sample delivery expected in Q4 [3] - Orders from leading enterprises are expected to maintain rapid growth for at least the next five years, driven by the need for efficiency improvements and the anticipated development of semi-solid and solid-state batteries [4] Group 3 - The company's overseas business, particularly in microgrid projects, is growing rapidly, with a gross profit margin of over 20%, attributed to significant reductions in local electricity costs and improved supply time [5] - The company is a national champion in the field of water conservancy and hydropower automation, participating in major projects like the Three Gorges Dam and is looking forward to opportunities in the Yaxia hydropower station project [6]