弗迪电池发布会点评：携超混+快充+CTB技术进军工程机械电动化领域

Investment Rating - The report rates the electrical equipment industry as "Positive" [4] Core Viewpoints - The report highlights the launch of three new types of engineering machinery batteries by Fudi Battery, marking its entry into the engineering machinery sector [1][2] - Key product features include safety, refueling capability, and performance under extreme working conditions [2][10] - The electrification penetration rates in engineering machinery vary significantly by type, with potential for further growth as costs decrease and battery performance improves [3][16] Summary by Sections Product Launch - Fudi Battery introduced three types of blade batteries: a super hybrid version, a pure electric super fast charging version, and a super integrated version [1][9] - The super hybrid version has a charging rate of 4C and an energy density of 120Wh/kg, while the pure electric version can achieve a maximum voltage of 1500V and a cycle life of over 7000 times [9][10] Safety and Performance - The batteries have passed rigorous safety tests, including a 28-needle puncture test, and can withstand significant impacts and pressures [2][11] - They are designed to operate in extreme conditions, with vibration resistance exceeding industry standards and corrosion resistance being twice as high as competitors [2][11] Market Dynamics - In 2023, the domestic sales of major engineering machinery products reached 1.774 million units, with a year-on-year growth of 4% [3][14] - The report notes that the electrification penetration rates for different types of engineering machinery are uneven, with higher rates in lighter equipment like aerial work platforms and forklifts [16][17] Industry Landscape - Major lithium battery manufacturers, including BYD and CATL, are actively expanding their presence in the engineering machinery sector [19][30] - The report indicates that the collaboration between Fudi Battery and XCMG Group is expected to enhance the supply of specialized batteries for engineering machinery [2][19]