超6亿募资转向，押注7GWh工商储

Core Viewpoint - The article discusses the strategic adjustments made by DeYe Co., Ltd. in response to market dynamics, particularly focusing on the shift towards high-margin products in the energy storage sector and the anticipated growth in the commercial energy storage market. Group 1: Financial Adjustments and New Projects - DeYe Co., Ltd. plans to redirect approximately 651 million RMB of unused fundraising from the original "25.5GW string and storage inverter production line" project to a new "7GWh commercial storage production line" project, with a total investment of about 1.112 billion RMB [2][3] - The new project is expected to generate annual revenue of approximately 4.87635 billion RMB and a net profit of about 734 million RMB upon reaching full production [2] Group 2: Market Growth and Demand - The commercial energy storage market is projected to add nearly 10GWh in new capacity by 2025, with a conservative estimate suggesting that the domestic market could reach 20GWh by 2028, reflecting a compound annual growth rate (CAGR) of approximately 108% over three years [7] - Global demand for commercial energy storage is being driven by policy support and rising electricity prices, particularly in regions like Europe, Pakistan, and Nigeria [7] Group 3: Revenue and Profitability - In the third quarter of 2025, DeYe Co., Ltd. reported total revenue of 8.846 billion RMB, a year-on-year increase of 10.36%, and a net profit of 2.347 billion RMB, up 4.79% [4] - The company’s revenue from energy storage battery packs is expected to grow significantly, from 884 million RMB in 2023 to 2.451 billion RMB in 2024, marking a year-on-year increase of 177.19% [8] Group 4: Product Margin and Strategy - The company is shifting its focus towards high-margin products, with the gross margin for commercial storage inverters and energy storage battery packs being significantly higher than that of string inverters [10] - The gross margin for commercial storage inverters is projected to be 60.28% in 2024, while the gross margin for energy storage battery packs is expected to reach 41.30% [10][11] - DeYe Co., Ltd. aims to enhance its competitive position by accelerating product technology updates and expanding into emerging markets [10]