Farasis Energy(SH:688567) 起点锂电·2025-09-18 08:35Core Viewpoint - The article highlights the significant growth of Chinese battery companies, particularly Funeng Technology, in overseas markets, which has become a new growth curve for their performance. Group 1: Overseas Market Performance - Funeng Technology reported that its overseas main business revenue for the first half of 2025 is expected to reach 3.638 billion yuan, with international cooperation with companies like Mercedes, TOGG, and Mahindra Group [3] - From 2020 to 2024, Funeng Technology's overseas market revenue increased from 249 million yuan to 8.66 billion yuan, with overseas revenue accounting for over 70% by 2024 [4] - In the first half of 2025, revenue is projected to be 4.353 billion yuan, with overseas revenue further increasing to 83.6%, becoming a core support for performance [4] Group 2: Key Partnerships and Collaborations - Funeng Technology's core overseas clients include Mercedes, Siro, and Mahindra, with a partnership to supply batteries for Mercedes EQ series mid-to-high-end models [5] - In 2023, Funeng collaborated with Mahindra to supply soft-pack batteries for its first pure electric SUV, XUV400, with a supply period of three years [6] - A joint venture with Turkish electric vehicle manufacturer Togg established Siro, which provides batteries for all its models, including the T10X, with a production capacity of 6GWh [6] Group 3: Product Development and Market Expansion - Funeng Technology is expanding its product offerings from automotive batteries to emerging markets such as low-altitude economy and humanoid robots [8] - The company has achieved GWh-level shipments and anticipates significant growth in semi-solid battery shipments by 2026, with a focus on performance and cost advantages [9] - In the all-solid-state battery sector, Funeng is advancing from laboratory to pilot production, with plans to deliver the first generation of solid-state batteries by the end of 2025 [10] Group 4: Future Outlook - Funeng Technology aims to further enhance its market presence in SPS products and solid-state batteries, targeting overseas markets to increase profit margins [11]