锂电设备海外交付“井喷”

Core Insights - The trend of Chinese lithium battery equipment companies receiving significant overseas orders is becoming increasingly evident, reflecting a deep restructuring of the global new energy vehicle supply chain [4][11]. Group 1: Overseas Revenue Growth - Several lithium battery equipment companies reported that their overseas revenue accounted for over 30% of total revenue in the first half of 2025 [7]. - Xianhui Technology announced that its overseas orders reached 2.06 billion RMB, making up 68% of its total orders, with an overseas gross margin of 30%, significantly higher than the domestic market's approximately 25% [5][6]. - The market expects Xianhui Technology's overseas revenue share to rise to 75% by 2025 [6]. Group 2: Notable Company Performances - HaiMuxing signed overseas orders worth 1.888 billion RMB in the first half of 2025, a year-on-year increase of 192.5% [9]. - Honggong Technology's overseas business revenue grew by 789.35% year-on-year, with new overseas orders amounting to 300 million RMB [9]. - Manenset achieved a 146.51% year-on-year growth in overseas revenue in the first half of the year [10]. Group 3: Industry Dynamics - The surge in orders is driven by the need for equipment upgrades due to technological iterations, as older production lines cannot meet the requirements of new high-energy, fast-charging battery technologies [11]. - Chinese battery companies are deepening their global footprint by planning to upgrade overseas module and PACK production lines to more complex cell production lines [11]. - There is a growing demand from overseas clients for automation, with a focus on reducing manual operations to lower training costs and improve yield stability [12]. Group 4: Market Landscape - The global battery market is currently characterized by a tripartite structure involving China, Europe, and the United States, with Europe emerging as a key battleground for competition among battery and equipment companies [13]. - The penetration of lithium battery equipment overseas reflects the long-term logic and sustainability of demand growth, especially as the domestic market becomes increasingly competitive [13].