Venture(US:VEMLY) Xin Lang Cai Jing·2025-10-09 02:21Group 1: Battery Industry Overview - The battery industry is projected to see a year-on-year revenue growth of 8% in the first half of 2025, reaching 294.7 billion yuan [1] - Overall gross profit for battery listed companies is expected to be 64 billion yuan in the first half of 2025, with a gross margin of 22%, a decrease of 1 percentage point compared to the same period in 2024 [1] - The total expenses for battery companies are anticipated to decline by 16% year-on-year to 26.6 billion yuan in the first half of 2025, indicating effective cost reduction [1] - The industry inventory is at 75 days, an increase of 17 days compared to 58 days in the previous year [1] - Accounts receivable in the battery industry is projected to be 80 days, a decrease of 2 days from the same period in 2024 [1] Group 2: Company Performance - Despite a slowdown in overall revenue and profit growth in the new energy battery supply chain, the lithium battery segment remains the most profitable, capturing 70% of the industry's profits [1] - Companies like CATL (宁德时代) and EVE Energy (亿纬锂能) are expected to report year-on-year net profit growth in the first half of 2025, highlighting industry differentiation [1] - CATL's gross margin is projected to be 25% in the first half of 2025, with significant net profit growth [1] Group 3: Market Performance - As of October 9, 2025, the ChiNext Index (创业板指数) has risen by 0.56%, with notable increases in stocks such as Dongsheng Technology (当升科技) by 9.66% and Maiwei Co. (迈为股份) by 7.13% [3] - The ChiNext ETF (平安) has seen a 66.32% increase in net value over the past two years, ranking in the top 14.01% among comparable funds [4] - The top ten weighted stocks in the ChiNext Index account for 57.49% of the index, with CATL being the largest at 18.77% [5][7]