EVE(SZ:300014) 阿尔法工场研究院·2025-06-12 10:12Core Viewpoint - The chairman of EVE Energy, Liu Jincheng, expressed the challenges faced by second-tier battery manufacturers in competing with industry leaders like BYD and CATL, emphasizing the need for technological advancement rather than price wars [1][19]. Group 1: Company Overview - EVE Energy plans to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [2][3]. - The funds raised will be used for overseas factory construction, global capacity expansion, and working capital [6][12]. - EVE Energy's overseas revenue decreased by 11.35% year-on-year, contributing 24.25% to total revenue [8][12]. Group 2: Financial Performance - In 2024, EVE Energy reported total revenue of 48.61 billion yuan, a slight decline of 0.35% compared to 2023 [12][13]. - The net profit attributable to shareholders was 4.08 billion yuan, showing a year-on-year increase of 0.63% [12]. - The revenue from the power battery segment was 19.17 billion yuan, down 20.08% year-on-year, while the energy storage battery segment contributed 19.03 billion yuan, up 16.44% [16][22]. Group 3: Market Position and Strategy - EVE Energy ranked ninth globally in power battery installation volume, holding a market share of 2.3% [17]. - The company is focusing on multiple technology routes, including cylindrical batteries and solid-state batteries, to enhance its competitive edge [20]. - EVE Energy's energy storage battery shipments reached 50.45 GWh in 2024, marking a significant year-on-year increase of 91.90% [21].