以下文章来源于e公司 ，作者证券时报 曾剑 e公司 . e公司，证券时报旗下专注上市公司新媒体产品，立志打造A股上市公司资讯第一平台。提供7x24小时上市公司标准化快讯，针对可能影响上市公司股价的 主题概念、行业事件及时采访二次解读，从投资者需求出发，直播上市公司有价值的活动、会议。 宁德时代（300750）11月14日深夜公告，公司股东黄世霖拟通过询价方式转让所持公司A股股份；转让的股份数量为4563.24万股，占公司总股本 的比例为1%。 以宁德时代截至11月14日的收盘价（404.12元/股）估算，上述股份市值约184.41亿元。 从股吧言论以及一些投资人在朋友圈的发言来看，很多人倾向于黄世霖是为了达成自己的储能梦想。 在宁德时代任职时，黄世霖便长期负责公司的储能战略。2018年，黄世霖在第五届中国储能创新与技术峰会上表示，高安全、长寿命的电池是储能系统的基础，高可 靠、高效率是储能系统集成的关键。业界一起把核心技术、成本、安全可靠性等问题统统解决后，储能系统将来会以一个完整独立的运行系统出现在各个不同的应用 场景中。 2021年，他在相关活动的演讲中提到，2020年度电存储成本已降至2010年的1/1 ...

Core Viewpoint - The article discusses the complex interrelationships within the lithium battery supply chain, particularly focusing on the deep ties between Ningde Times and Xingyun Co., highlighting how these relationships influence financial performance and investment strategies [2][4]. Group 1: Financial Dynamics - Ningde Times plans to raise approximately HKD 30.7 billion, with about 90% allocated for projects in Hungary, which may involve equipment procurement from Xingyun Co. [5] - Xingyun Co. recently completed a private placement raising about CNY 637 million, primarily for building a storage system and battery component manufacturing center in Ningde, closely tied to Ningde Times [7]. - Despite Xingyun Co. reporting a net loss of CNY 97.45 million in 2024 and over CNY 10 million in Q1 2025, its stock price increased by nearly 50% shortly after the private placement [11]. Group 2: Strategic Relationships - The capital interlock between Xingyun Co. and Ningde Times is evident, with significant investments from Ningde Times' affiliates in Xingyun's private placement, indicating a mutual benefit in their financial dealings [9][11]. - Xingyun Co.'s revenue heavily relies on Ningde Times, with 60.02% of its total revenue in 2022 coming from Ningde Times and its subsidiaries [12]. - The relationship extends beyond financial transactions, as key executives from both companies share personal and professional connections, enhancing collaboration opportunities [17][18]. Group 3: Market Position and Challenges - Xingyun Co. has faced declining profitability, with gross margins dropping from 45% in 2021 to 28% in 2022, and accounts receivable turnover days increasing significantly [14]. - The joint venture, Fujian Times Xingyun Technology, aimed at the "light-storage-charging-inspection" market, has struggled to achieve profitability despite growing revenues [19]. - New regulations mandating safety inspections for power batteries may create new business opportunities for Xingyun Co., potentially offsetting previous losses [21].