CORUN(SH:600478) Zhong Zheng Wang·2026-01-26 14:00Core Viewpoint - Kolyuan (科力远) expects significant growth in net profit for 2025, indicating a fundamental improvement in its core business profitability and quality [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of between 160 million to 183 million yuan for 2025, representing a year-on-year increase of 72.76% to 102.20% [1] - After accounting for equity incentive-related expenses, the net profit is projected to be between 135 million to 158 million yuan [1] - The net profit, excluding non-recurring gains and losses, is expected to be between 75 million to 98 million yuan, showing a substantial year-on-year growth of 1156.74% to 1542.15% [1] Group 2: Energy Storage Business - Kolyuan's energy storage business is entering a harvest period, leveraging a large energy storage ecological innovation consortium model [2] - The company plans to invest in independent energy storage stations through an energy storage industry fund, with an expected construction of approximately 4 GWh of independent energy storage stations in 2025 [2] - The Erdos Gushanliang 300MW/1200MWh independent energy storage station is expected to be operational by the end of December 2025, contributing approximately 400 million kWh of clean energy to the grid annually [2] Group 3: Strategic Initiatives - Kolyuan has reserved over 15 GWh of various energy storage projects for 2025, with around 10 GWh planned to commence construction in 2026, ensuring sufficient momentum for future performance growth [2] - The company, as a major initiator of the large energy storage ecological innovation consortium, has assisted in the selection of Baoding High-tech Industrial Development Zone as one of the first national zero-carbon parks, validating its core capabilities in technology and scenario innovation [3] - Kolyuan holds four major lithium mine resources, with a total of 400,000 tons of lithium carbonate equivalent, establishing an integrated layout from natural mines to terminal energy storage [3] Group 4: Traditional Business Stability - The traditional business segment continues to play a stabilizing role, with steady sales growth in nickel battery core customers driving increases in nickel products, power batteries, and pole piece business [4] - The consumer battery business has also shown steady growth in revenue, contributing to an increase in gross profit [4] - The company is accelerating the development of key components for solid-state batteries and promoting the application of three-dimensional porous copper-manganese alloy in solid oxide fuel cells (SOFC) [4]