Core Viewpoint - The photovoltaic industry is facing significant challenges in 2024, including supply-demand imbalance, price inversion, and tightened financing, while Baoxin Technology (002514) demonstrates strong strategic determination and operational resilience despite short-term performance pressures [1] Financial Performance - In 2024, Baoxin Technology reported revenue of 336 million yuan, a year-on-year decline of 42.16%, and a net loss of 767 million yuan [2] - The company's operating cash flow net increased by 167.97%, indicating effective supply chain management and cost control [2] - Total assets amounted to 1.88 billion yuan, reflecting a focus on core business through the divestment of inefficient assets [2] Strategic Focus - Baoxin Technology's dual-driven strategy of "smart manufacturing + new energy" led to its smart manufacturing segment generating 250 million yuan, accounting for 75.42% of total revenue [2] - The company is concentrating on technological advancements, particularly in heterojunction (HJT) and perovskite technology routes, targeting the next generation of high-efficiency batteries [2][3] R&D and Innovation - The company invested 18.52 million yuan in R&D, a decrease of 55.98% year-on-year, focusing on key technological breakthroughs in metal structure components and charging piles [3] - Future product upgrades will include more efficient liquid cooling technologies and the exploration of new material applications [3] Market Expansion - Despite a decline in sales revenue from photovoltaic cells and components due to industry price wars, Baoxin Technology increased its overseas sales by 23%, with foreign sales accounting for 41.84% of total revenue [4] - The company is exploring the overseas market for charging and swapping equipment, aiming to develop high-power charging devices compatible with various vehicle models for the European and American markets [4] Transformation Strategy - Baoxin Technology is implementing a dual strategy of offense and defense, securing bank loans to stabilize credit and ensuring cash flow safety while enhancing smart manufacturing and technology commercialization [5] - The company aims to align its transformation logic with global energy transition trends, with the International Energy Agency (IEA) predicting significant growth in renewable energy installations by 2030 [5]

21世纪经济报道记者曹恩惠 上海报道 连续多年跻身全球光伏组件出货前十的东方日升（300118.SZ），在2024年迎来了史上最严峻的经营"寒 冬"。 财务数据显示，2024年，东方日升实现营业收入202.39亿元，同比下滑42.71%；实现归属于上市公司股 东的净利润为-34.36亿元，同比下滑352.03%。换言之，东方日升在2024年由盈转亏。 纵向对比来看，2024年的盈利数据也是东方日升史上最差。这既包括因组件价格下跌带来的组件业务亏 损，也包括大额资产减值损失的计提。 具体来看，2024年东方日升实现组件销售量18.07GW，较2023年减少约0.92GW。其组件业务毛利率跌 至2.58%，较2023年减少11.01个百分点。 截至2024年底，东方日升光伏组件年产能为40GW，产能主要分布于浙江宁波、江苏金坛、浙江义乌、 安徽滁州、内蒙古包头和马来西亚等生产基地。 相较于其他光伏组件企业，东方日升身上有个显著的标签：其是异质结技术的拥趸。 该公司在年报中介绍，其公司通过自有专利0BB电池技术、210超薄硅片技术、纯银用量小于5mg/W及 昇连接无应力电池互联技术四个行业内首家量产的技术，进一步推 ...

近期，国家发改委等五部门联合发布《关于促进可再生能源绿色电力证书市场高质量发展的意见》，明 确提出打造高比例绿色电力消费的园区与工厂，并要求新建数据中心绿电消费比例达到80%。这一政策 为光伏企业提供了明确的市场导向，也为东方日升的技术创新成果提供了广阔的应用场景。 东方日升在异质结技术领域的领先地位还得到了国际权威认证。公司已获得TüV南德全球首张210异质 结高效薄片化组件认证证书，以及TüV莱茵首家HJT电池片认证证书。这些认证不仅是对公司技术研发 能力的认可，更是对其产品质量与市场竞争力的有力背书。 在全球能源转型加速的背景下，光伏产业作为清洁能源的核心领域，正迎来前所未有的发展机遇。东方 日升（300118）（300118.SZ）作为光伏行业的领军企业，以技术创新为驱动，持续推动光伏产品的经 济价值与绿色价值同步增长。通过聚焦异质结技术等前沿领域，东方日升不仅在技术上实现了突破，更 为行业发展树立了新的标杆。 近年来，东方日升推出了Hyper-ion伏羲组件，该产品集成了薄片化双面微晶技术、低银含浆料、昇连 接无应力互联等核心技术，该系列产品量产主流版型功率可超730w，对应组件效率达23.8%，同 ...