IPO节奏暂缓不改高增长趋势，海辰储能如何用六年冲到全球第二？

Core Viewpoint - The recent expiration of Haicheng Energy's prospectus has drawn market attention, but this is not an uncommon phenomenon in the capital market. The expiration does not equate to the termination of the IPO process, as companies can update financial data and reapply within three months to continue the review process [1][2]. Group 1: Market Demand and Production Capacity - The global energy transition is in a critical phase, with major countries intensifying efforts towards carbon neutrality, leading to rapid growth in renewable energy installations. However, the intermittent nature of renewable energy necessitates effective energy storage solutions, elevating storage from an optional accessory to a core necessity [3]. - The global energy storage market is entering an explosive growth phase, with global battery shipments expected to reach 258 GWh in the first half of 2025, a 106% year-on-year increase. Domestic manufacturers are leading this market, with Haicheng Energy's shipment volume projected to rise significantly, achieving a compound annual growth rate of 167% over three years [3][4]. Group 2: International Strategy and Competitive Strength - Haicheng Energy's international strategy is progressing steadily, with overseas revenue reaching 3.7 billion yuan in 2024, accounting for 28.6% of total revenue. The company has established a global service network covering over 20 countries and regions [5]. - The company has secured several significant international contracts this year, including a 720 MWh battery storage system project in the UK and a 1 GW/4 GWh storage project in Saudi Arabia, showcasing its strong international development momentum [6][7]. Group 3: Conclusion - The temporary expiration of the prospectus is merely a "mid-game adjustment" in Haicheng Energy's journey in the capital market and does not affect its long-term value proposition. The energy transition is an irreversible trend, and energy storage has become a key support, positioning Haicheng Energy advantageously in this historical opportunity [8].