万润新能：H1出货量激增90.23%居全球第二 经营质效连续三季度改善

Core Viewpoint - Wanrun New Energy (688275.SH) reported a significant increase in revenue and production in the first half of 2025, indicating a positive trend in performance despite fierce competition in the renewable energy sector [1] Financial Performance - The company's revenue for the first half of 2025 reached 4.436 billion yuan, representing a year-on-year growth of 50.49% [1] - The cumulative shipment of lithium iron phosphate reached 148,300 tons, showing a year-on-year increase of 90.23% [1] - The company ranked second globally in shipment volume during the first half of the year [1] Operational Strategy - Wanrun New Energy has improved its operational efficiency for three consecutive quarters, signaling a turning point in performance [1] - The company has actively pursued market development strategies, securing large orders from CATL, which is expected to contribute over 200,000 tons in sales annually [1] - Efforts to expand the customer base and optimize customer structure are ongoing [1] Research and Development - Continuous investment in research and development and technological innovation is beginning to yield results, providing new momentum for future performance growth [1]