插播 ：拒绝鱼龙混杂， 让优质项目脱颖而出！"2024-2025用户侧储能项目TOP10榜单"征集进行中。点击 "阅读原文" 进行申报 近期，又有天合光能、金风零碳、南都电源等3家企业签订储能相关合作，总规模近1.2GWh，涉及储能项目合作以及系统采购合同等。 项目创新采用"水电储能+智慧旅游"耦合模式，建成后可使景区绿电覆盖率提升至80%，预计年调峰电量超2亿千瓦时，可减少二氧化碳排放18万 吨，建成后将有效破解水电资源"丰余枯缺"矛盾。 ■ 天合光能：与FlexGen合作371MWh储能项目 日前，天合光能与 美国储能技术提供商和系统集成商FlexGen达成合作，在德克萨斯州休斯顿交付 371 MWh 的电池储能系统（BESS）。 该 项目由SMT Energy开发， 项目采用天合光能的新一代Elementa 2解决方案，该系统旨在提升能源性能、确保可靠性并降低运营风险。通过与 FlexGen 建立长期服务合作伙伴关系，天合光能确保持续的资产可靠性。FlexGen 将负责系统集成并部署其专有的 HybridOS™ 能源管理软件。 据了解，本次项目采用的 天合光能的 Elementa 金刚 2，于近日获得 ...

插播 ：TOP10花落谁家？2024-2025用户侧储能项目TOP10榜单征集进行时，点击 上方二维码 进行申报 近期，又有10大储能项目更新，总规模超600MWh，应用场景包括工商业储能、光储充、独立储能电站等， 涉及精控能源、远东储能、欣旺达、 广州储能集团、西门子中国、领湃科技；三晖能源、三峡能源、粤能投以及国粤（韶关）电力等。 ■ 精控能源： 衡水首个工商业储能项目落地 近期， 精控能源河北衡水 7MW/15 M Wh 工商业储能项目实现全容量并网投运，成为衡水首个工商业储能示范项目。 传统工业园区接入储能系统， 通过构建"储能+分布式能源"体系，可降低 15%-30% 年度电费支出，同步提升 绿电渗透率至40%以上以应对碳配 额约束 ；储能系统快速响应能力可保障精密制造产线供电连续性，更可替代电网扩容并参与调频辅助服务创造增量收益。 针对工业厂区电网适配性低、空间限制、设备分布零散的特点，精控能源创新设计" 不规则分布式光储一体化系统 "。 方案集成定制化储能系统与 智能能量管理系统（EMS），通过多点并网拓扑和动态簇群控制技术，实现多场景能源的高效汇流与灵活调度。 系统支持多电压等级接入，适配厂 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 49.95 CNY, indicating an expected relative return of over 20% within six months [6][17]. Core Insights - The company's revenue for 2024 reached 5.02 billion CNY, a year-on-year increase of 11.13%, while the net profit attributable to the parent company was 674.74 million CNY, up 36.17% year-on-year [1]. - In Q1 2025, the company achieved a revenue of 1.22 billion CNY, reflecting a year-on-year growth of 11.33%, and a net profit of 180 million CNY, which is a significant increase of 65.61% year-on-year [1]. - The growth in performance is attributed to the company's strong position as a core supplier for Tesla, particularly in the automotive electronics sector, and its involvement in emerging business areas such as humanoid robots and supercomputing [2][3]. Financial Performance Summary - The company is projected to achieve revenues of 6.29 billion CNY, 8.05 billion CNY, and 10.46 billion CNY for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 894.48 million CNY, 1.18 billion CNY, and 1.52 billion CNY [4][5]. - The EBITDA for 2025 is estimated at 1.34 billion CNY, with a growth rate of 32.57% compared to the previous year [5]. - The company’s R&D expenses in Q1 2025 were 49 million CNY, a year-on-year increase of 23.2%, indicating a commitment to innovation and product development [3]. Strategic Developments - The company is strategically expanding its operations with the construction of a factory in Thailand, which is expected to commence operations by the end of 2025, aimed at reducing trade friction and leveraging cost advantages [3]. - The company has established partnerships with various domestic clients, including Xpeng, NIO, and Li Auto, to develop high-value products in the electric vehicle sector [3]. Market Position - The company is recognized as one of the few PCB manufacturers capable of keeping pace with Tesla's advancements, particularly in the fields of autonomous driving and energy storage [2]. - The report highlights the company's deepening collaboration with Tesla across multiple sectors, including solar energy and energy storage systems, which are expected to drive future growth [2].

2025年4月，宁波旭升集团股份有限公司（以下简称"旭升集团"）发布2024年年度报告。报告期内，公 司面临诸多挑战，多项关键财务指标出现显著变化。其中，净利润同比减少41.71%，筹资活动产生的 现金流量净额同比大增2144.60%，这些数据的变动值得投资者密切关注。 营收与利润：规模与效益的双重考验 营业收入：下滑背后的市场挑战 2024年，旭升集团实现营业收入4,408,751,349.58元，较去年同期的4,833,865,278.87元减少8.79%。从业 务板块来看，汽车类业务收入3,778,514,517.72元，同比下降10.87%，作为公司的核心业务，其下滑对 整体营收影响较大。公司表示，全球新能源汽车行业竞争加剧，产业链价格战激烈，终端需求波动，部 分客户订单量未达预期，是导致营收下滑的主要原因。 净利润：成本与市场双重挤压 销售费用为19,765,092.51元，较去年的21,221,652.78元下降6.86%。公司可能在优化销售渠道或控制销 售支出方面取得一定成效，在营收下滑的情况下，销售费用的下降有助于缓解成本压力。 管理费用：显著增长 管理费用为169,329,692.83元，同 ...

Core Viewpoint - Songsheng Co., Ltd. reported a total operating revenue of 884 million yuan for 2024, representing a year-on-year growth of 15.78% [1] Group 1: Financial Performance - In 2024, the company achieved a 29.14% year-on-year increase in the sales volume of LED driver power products [1] - Revenue from LED driver power products grew by 14.66% year-on-year, further solidifying the company's market position [1] Group 2: Business Overview - Songsheng Co., Ltd. is a leading manufacturer of LED driver power supplies in China, focusing on medium and high-power LED lighting driver power supplies and energy storage inverters/converters [1][2] - The company's core business of high-power LED lighting driver power supplies has been developed over more than a decade and is essential for various LED lighting applications [2] Group 3: Competitive Advantages - The company's core competencies are highlighted in six areas: technological accumulation, R&D responsiveness, quality control, scale manufacturing, digital operations, and brand reputation [2] - As of the end of 2024, Songsheng Co., Ltd. holds 196 authorized patents, including 193 domestic patents and 3 foreign patents, with a significant focus on invention and utility model patents [2] Group 4: R&D Investment - In 2024, the company's R&D investment reached 115 million yuan, a year-on-year increase of 25.39%, accounting for 13.07% of its operating revenue, which is a leading level in the industry [2] Group 5: Brand Recognition - The company's own brand "Songsheng Power" has been recognized as a "Shenzhen Famous Brand," "Excellent LED Power Brand," "Internationally Credible Brand," and "Bay Area Famous Brand" [3]

-广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤储能 资讯~ 4月21日，中国五矿旗下的 湖南云储循环新能源科技有限公司，联合丰田汽车（中国）投资有限公司、明和 产业（上海）有限公司等，共同出资1亿元设立湖南云储斯蔚普新能源技术有限公司。 据悉，新公司主营业务除了动力蓄电池回收及梯次利用之外，还包含电池销售、储能技术服务等。其中中 国五矿持股比例66%，成为央企控股的储能企业，此外丰田汽车和明和产业分别持股17%。 | 企业名称 | 湖南云储斯赢普新能源技术有限公司 | | | | | | --- | --- | --- | --- | --- | --- | | 法定代表人 | 盟 熊伟 | 登记状态 ② | 存续 | 天眼评分 (2 | 88 % | | | | 成立日期 | 2025-04-21 | | | | 统一社会信用代码 ② | 91430104MAEFTXQ262 | 注册资本 2 | 10000万人民币 | 实缴资本 | | | 工商注册号 | 430104001534639 | 纳税人识别号 2 | 91430104MAEFTXQ262 | 组织机构 ...

盈利预测：新能源汽车渗透率持续提升，汽车热管理市场规模稳定增长，公司在行业内具较强竞争优 势，客户资源优质，各品类产能均持续扩张，同时公司积极开拓储能等新市场且前瞻布局机器人领域， 我们看好公司长期发展，预计公司2025-2027 年实现营业收入10.75/14.38/17.87 亿元， YoY+30.04%/33.85%/24.20% ， 归母净利润1.85/2.49/3.11 亿元，YoY+34.51%/34.39%/24.81%，EPS 分别 为1.03/1.39/1.73 元，维持公司"推荐"评级。 产能持续扩张叠加客户资源优势，公司业务有望持续高增。公司目前产能较为饱和，公司在建的云梦电 子二期扩建项目主体结构施工已全面竣工，正处于装修与设备安装阶段，预计年中开展试运行工作，达 产后预计新增5000 万只温度传感器产能。2024 年11 月，公司公告将募投项目变更为"车用执行器建设 项目"，预计26 年投产，达产后预计新增1300 万只执行器产能（单班）。控制器方面，公司2024 年末 调速模块年产能约达970.2 万个。公司产品在行业内已形成较高知名度和竞争优势，客户资源优势凸 显，主要客户广泛覆 ...

Group 1 - Luoyang Molybdenum plans to acquire all issued and unissued common shares of Canadian company Lumina Gold for approximately 5.81 billion CAD (about 3.04 billion RMB), indicating a long-term optimistic outlook on the gold market as a safe-haven asset [1] - The acquisition is expected to diversify Luoyang Molybdenum's asset portfolio and enhance its competitiveness in the global mining market [1] Group 2 - The controlling shareholder of Pylon Technologies, ZTE New, increased its stake by 2.68 million RMB, acquiring 750,000 shares, which represents 0.31% of the company's total equity [2] - ZTE New plans to continue increasing its stake within the next 12 months, with a total investment of no less than 50 million RMB and no more than 100 million RMB [2] Group 3 - Tinci Materials reported a significant increase in Q1 2025, with operating revenue of 3.489 billion RMB, a year-on-year growth of 41.64%, and a net profit attributable to shareholders of 149 million RMB, up 30.80% year-on-year [3] - The revenue growth is primarily attributed to the increased sales of lithium-ion battery materials, benefiting from the rising demand in the new energy vehicle and energy storage markets [3]

Core Viewpoint - Sichuan Chuanhuan Technology Co., Ltd. has reported rapid growth in its operating performance for both the 2024 annual report and the 2025 first-quarter report, driven by the increasing demand in the automotive and new energy vehicle sectors [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 1.363 billion yuan, a year-on-year increase of 22.88% - The net profit attributable to shareholders reached 203 million yuan, up 25.15% - The net profit excluding non-recurring gains and losses was 193 million yuan, reflecting a growth of 26.31% - For the first quarter of 2025, the company reported operating revenue of 316 million yuan, a 5.6% increase year-on-year, and a net profit of approximately 46.44 million yuan, up 5.06% [1]. Market Position and Strategy - The company's growth is attributed to its ability to accurately grasp market trends and convert business advantages into market competitiveness - Chuanhuan Technology has maintained steady development in traditional business areas while actively researching cooling pipelines suitable for emerging fields such as energy storage and big data supercomputing [2]. - The company has successfully developed cooling system pipeline products for a liquid-cooled server company, filling a domestic gap and potentially replacing imports [2]. R&D and Innovation - The company adheres to the principle of "technology revitalizing enterprises," continuously investing in R&D and technological innovation - R&D expenditures for 2023, 2024, and the first quarter of 2025 were 42.78 million yuan, 52.34 million yuan, and 12.18 million yuan, respectively, with year-on-year growth rates of 24.08%, 22.35%, and 21.01% [3]. - The company has established multiple innovation platforms, including provincial technology centers and key laboratories, to foster new technologies and business models [3]. Industry Outlook - The demand for high-performance rubber and plastic hoses is expected to continue increasing with the expansion of the new energy vehicle market and the rapid development of energy storage and big data supercomputing sectors - Chuanhuan Technology is well-positioned to maintain its market leadership due to its advantages in technology R&D, production, and customer resources [3].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's automotive business shows strong growth sustainability, with emerging opportunities in energy storage and robotics expected to become new growth drivers [1][11] - The company reported a revenue of 826 million yuan for 2024, representing a year-on-year growth of 26.5%, and a net profit of 138 million yuan, up 21.2% year-on-year [8][9] - The company has a solid order backlog, ensuring strong performance sustainability, with a focus on the automotive thermal management sector [10] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: 2023: 653 million yuan, 2024: 826 million yuan, 2025E: 1,078 million yuan, 2026E: 1,432 million yuan, 2027E: 1,757 million yuan, with respective year-on-year growth rates of 26.9%, 26.5%, 30.4%, 32.8%, and 22.7% [7][14] - The projected net profit for 2025 is 180 million yuan, with a corresponding PE ratio of 23 [11][14] - The company’s gross margin is expected to stabilize around 32% in the coming years, with a return on equity (ROE) projected to reach 27.1% by 2027 [7][11]