本次募资所得的90%将投向匈牙利项目第一期及第二期建设 ， 进一步提升本地化供应能力，巩固公司在 新能源领域的全球领先地位。 宁德时代于2025年2月11日正式向港交所递交A1申请文件，3月25日获中国证监会境外发行上市备案通知 书，创近年境外发行备案最快纪录。按照5月20日上市计算，宁德时代从申报到上市仅3月余。在当前环 境下，宁德时代仍实现接近A股价格的高位定价、超200亿港元的基石投资者认购，及在极短时间内完成 上市流程，体现全球投资者对于宁德时代及全球新能源产业的价值认可。 财务数据显示，2024年宁德时代全年实现营业收入3620.13亿元，实现归属于母公司股东的净利润 507.45亿元，同比增长15.01%；2025年第一季度公司实现营业收入847.05亿元，实现归母净利润 139.63亿元，同比增长32.85%，综合毛利率达24.4%，环比持续攀升。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：储能前沿 5月12日，宁德时代披露发行阶段董事会公告及刊登注册招股书，宣布正式启动国际配售簿记， 预计于5 月20日在香港联交所主板挂牌并开始上市交 ...

Core Viewpoint - Ningde Times has officially launched its international placement book, marking its upcoming listing on the Hong Kong Stock Exchange, with an expected IPO scale of $4 to $5 billion, potentially becoming one of the largest IPOs in recent years in the Hong Kong market [1][3]. Group 1: IPO Details - The upper limit of the IPO price is set at HKD 263.00 per share, reflecting the company's confidence in its value and market recognition of its high pricing [3]. - The company plans to issue 118 million shares, with the potential for overallotment and greenshoe options, which could bring the total fundraising to the anticipated $4 to $5 billion if fully exercised [3]. - Notable investors, including Sinopec, Kuwait Investment Authority, Hillhouse Capital, and UBS Asset Management, have shown significant interest, with cornerstone subscriptions amounting to HKD 20.371 billion at the upper price limit [3]. Group 2: Use of Proceeds - 90% of the funds raised will be allocated to the first and second phases of the Hungary project, aimed at enhancing local supply capabilities and solidifying the company's global leadership in the renewable energy sector [3]. Group 3: Company Performance - Ningde Times has demonstrated impressive financial performance, with projected revenue of RMB 362.013 billion and a net profit of RMB 50.745 billion for 2024, reflecting a year-on-year growth of 15.01% [4]. - In Q1 2025, the company achieved revenue of RMB 84.705 billion and a net profit of RMB 13.963 billion, marking a year-on-year increase of 32.85% [4]. - The company's gross margin has consistently risen to 24.4%, and it has returned nearly RMB 60 billion in cash dividends to shareholders since its listing, with a dividend payout ratio of 50% for 2023 and 2024 [4].

Core Viewpoint - Wolong Real Estate is undergoing a significant transformation by divesting its mining business and shifting focus towards the renewable energy sector, aiming to establish a dual business model of "real estate + renewable energy" [1][10]. Group 1: Divestment of Mining Business - On May 10, Wolong Real Estate announced plans to sell 90% of its stake in Shanghai Mining to its indirect controlling shareholder, Wolong Holdings, marking a complete exit from the mining trade [3][4]. - In 2024, Wolong Real Estate's total revenue was reported at 3.611 billion yuan, with the mining business contributing 2.477 billion yuan, accounting for 68.6% of total revenue [3][4]. - The decision to divest comes amid a decline in the revenue of the mining business, which fell from 3.599 billion yuan in 2022 to 2.477 billion yuan in 2024 [4][6]. Group 2: Shift to Renewable Energy - Concurrently, Wolong Real Estate has acquired several companies in the renewable energy sector, including Zhejiang Long Energy and Zhejiang Wolong Energy Storage, and will change its name to "Wolong New Energy" on May 15 [10][12]. - The acquired companies include one profitable entity, Long Energy, which reported a net profit of approximately 105 million yuan in 2024, while the others reported losses [12]. - The strategic shift towards renewable energy is seen as a proactive response to industry cycles and aims to capture growth opportunities in the context of global energy transition and carbon neutrality goals [12][13]. Group 3: Industry Context and Challenges - The renewable energy sector is experiencing high growth, with global photovoltaic installations increasing by over 30% in 2024, and battery shipments growing by 25% [13]. - However, the industry is also facing challenges, with some companies experiencing profit declines, highlighting the competitive landscape and the need for effective resource integration and management [13][16]. - The trend of real estate companies diversifying into other sectors, such as renewable energy, is becoming more common as firms seek to mitigate risks associated with the traditional real estate market [14][15].

Core Viewpoint - Yibin's economic growth has significantly slowed, with a GDP growth rate of only 4.0% in Q1 2025, falling below the provincial average of 5.5% and lower than neighboring cities like Mianyang and Deyang [1][2][3]. Group 1: Historical Context and Transformation - Yibin experienced remarkable growth from 2015 to 2024, with GDP increasing from 152.59 billion to 400.58 billion, becoming the third-largest city in Sichuan [4][5]. - The city successfully transitioned from a resource-dependent economy to a modern industrial hub, achieving a significant industrial upgrade through strategic initiatives [28][79]. - The introduction of the "dual-wheel drive" strategy in 2016 aimed at upgrading traditional industries and fostering new ones, leading to the establishment of a complete industrial chain in smart terminal manufacturing [14][19]. Group 2: Current Economic Challenges - In Q1 2025, Yibin's industrial output growth was only 5.2%, lagging behind the provincial average of 7.2% and significantly lower than Mianyang's 11.7% and Deyang's 14.0% [34]. - The traditional white liquor industry, which contributes approximately 23% to Yibin's GDP, is facing a growth ceiling, with a mere 3.3% increase in Q1 2025 [36][38]. - New emerging industries, while showing high growth rates (e.g., smart connected vehicles at 55.1% and photovoltaic products at 37.5%), are still too small in scale to offset the slowdown in traditional sectors [41][43]. Group 3: Investment and Structural Issues - Fixed asset investment in Yibin decreased by 3.3% in Q1 2025, significantly below the provincial average of 4.0%, with real estate development investment dropping by 4% [47][48]. - Industrial investment growth was weak, indicating a potential decline in the internal driving force for industrial transformation [49]. - Despite a 22.7% increase in industrial electricity consumption, suggesting active industrial activity, the overall investment vitality appears to be diminishing [50]. Group 4: Future Opportunities and Strategic Directions - Yibin is focusing on leveraging its hidden assets, such as a skilled workforce of 300,000 industrial workers, low electricity costs, and strategic transportation advantages to foster future growth [59][60][61]. - The establishment of a university city is expected to inject innovation and support the transition from manufacturing to intelligent manufacturing [63][64]. - Future growth opportunities include deepening the advantages in the new energy sector, expanding digital economy applications, and enhancing the role of artificial intelligence across various industries [66][67][68].

本报西宁5月7日讯（记者石晶）西宁海关日前举行新闻发布会透露，一季度，青海省进出口总值18.8亿 元，同比增长87.8%，增速居全国前列。 全省进出口市场呈现多元化趋势。青海依托资源优化布局新能源产业，新能源产品成为外贸增长主动 力。一季度，全省锂电池出口6.3亿元，同比增长69.2倍，占全省出口总值的38%，增速居全国第一。 多晶硅与光伏组件协同深耕国际市场。青海依托盐湖资源与清洁能源禀赋，构建光伏产业跨境供应体 系。一季度，光伏产业相关产品出口大幅增长，其中，多晶硅出口2.4亿元，同比增长3.5倍，出口值占 同期全国同类出口商品的69.3%，居全国第一；光伏组件出口3047.6万元，同比增长1.2倍。 （文章来源：经济日报） 不久前，一架装载1975公斤冰鲜虹鳟鱼的航班从西宁曹家堡机场起飞，经广州转关出口至泰国曼谷。目 前，青海产冰鲜虹鳟鱼已实现多个国家和地区当日抵达，青海冷水鱼年出口量从500吨增长到超5000 吨。西宁曹家堡机场海关监管科科长陈兆权介绍，机场海关持续优化通关服务保障，设立空运出口专 用"绿色通道"，指定业务骨干作为联络员，加强与货主、报关、物流单位联系配合，实现转关出口零延 迟。 今年 ...

长江商报消息 ●长江商报记者 江楚雅 老牌房企卧龙地产（600173.SH）正式向新能源领域转型。 近日，卧龙地产公告称，公司拟将证券简称变更为"卧龙新能"。卧龙地产表示，公司将积极响应国 家"双碳"政策，向新能源产业方向发展，增加公司新的利润增长点，为公司未来发展注入新动能。 长江商报记者注意到，卧龙地产在2025年一季度完成了对矿产贸易业务的剥离，并加速了新能源领域的 布局。通过收购龙能电力、卧龙储能等关联方新能源公司，公司形成了光伏、储能、氢能协同发展的业 务格局。 剥离矿产业务和新能源业务的快速拓展为卧龙地产营收增长提供了新动力。财报显示，卧龙地产2025年 一季度实现营业收入11.05亿元，同比增长97.53%。 打造新能源业务第二增长极 卧龙地产加速新能源领域布局。2025年初至今，公司完成多项资产收购。 3月，卧龙地产完成对浙江龙能电力科技股份有限公司、浙江卧龙储能系统有限公司、卧龙英耐德（浙 江）氢能科技有限公司及绍兴上虞舜丰电力有限责任公司等相关股权收购，增加光伏、风电、氢储能等 新能源业务。 据卧龙地产介绍，在风能领域，公司将全力推动包头达茂旗新能源加储能构网型试点示范项目的建成落 地；在 ...

Group 1 - The Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange have launched a "Special Line for Science and Technology Companies" to facilitate the listing of specialized technology and biotechnology companies, allowing them to submit applications confidentially [1] - This initiative aims to strengthen Hong Kong's position as a preferred listing platform for emerging and innovative companies, enhancing market vitality and supporting the development of innovative enterprises [1] Group 2 - Contemporary Amperex Technology Co., Limited (CATL) has passed the listing hearing at the Hong Kong Stock Exchange, planning to list on the main board, marking a significant step in its internationalization strategy [2] - CATL has maintained the top global market share in power batteries for eight consecutive years, with projected market shares of 37.9% in 2024 [2] - The company's revenues for 2022, 2023, and 2024 are reported at 328.6 billion yuan, 400.9 billion yuan, and 362 billion yuan respectively, with profits of 33.5 billion yuan, 47.3 billion yuan, and 55.3 billion yuan [2] Group 3 - Swire Pacific Limited plans to spin off its indirect non-wholly owned subsidiary TCPCL for an independent listing on the Stock Exchange of Thailand, having received confirmation for the spin-off [3] - TCPCL operates in 63 out of 77 provinces in Thailand and Laos, focusing on the preparation, packaging, distribution, and sale of non-alcoholic beverages under trademarks owned by Coca-Cola [3] - This move indicates Swire Pacific's strategy to optimize its business structure and enhance market competitiveness, potentially providing new investment opportunities [3] Group 4 - Shandong Molong's stock price surged over 188% on May 6, with a peak increase exceeding 200%, following the announcement of the removal of risk warnings on its A-shares [4] - The company has been included in the Hong Kong Stock Connect program, effective from May 6, 2025, which may enhance its market visibility and trading volume [4] Group 5 - Nanshan Aluminum International reported a decline in overseas alumina prices in Q1 2025, with an average price of approximately $518 per ton, which is a 40.88% increase year-on-year but a 2.98% decrease compared to the average price in 2024 [5] - The alumina market is experiencing a price adjustment phase due to a supply-demand imbalance, necessitating close monitoring of market dynamics by Nanshan Aluminum [5] Group 6 - The Hang Seng Index closed at 22,662.71, with a daily increase of 0.70%, while the Hang Seng Tech Index and the National Enterprises Index saw minor fluctuations of 0.09% and 0.37% respectively [6]

Group 1: Industry Trends and Market Opportunities - The renewable energy industry is becoming a core engine for sustainable economic growth, supported by policies and market demand for wind, energy storage, clean energy, and photovoltaics [1][2]. - By the end of 2024, China's cumulative installed power generation capacity is expected to reach approximately 3.35 billion kilowatts, a year-on-year increase of 14.6% [2]. - The wind power installed capacity is projected to be around 520 million kilowatts, with an 18.0% year-on-year growth [2]. Group 2: Company Performance and Business Development - In 2024, the company's international business sales revenue increased by 66.47% year-on-year, driven by the establishment of a European subsidiary and expansion into Southeast Asia and the Middle East [4][5]. - The revenue from clean energy equipment and solutions grew by 26.71% compared to the same period last year [5]. - The company has developed over 50 solar storage charging projects, with total orders exceeding 60 MW [5]. Group 3: Research and Development Investments - The company's R&D expenditure accounted for 3.94% of total revenue in 2024, with a focus on offshore wind, nuclear power, energy storage, and hydrogen energy [7][8]. - The company has participated in the development of over 40 domestic first sets and has led or participated in the formulation of 12 national and industry standards [7][8]. Group 4: Liquid Cooling Market and Competitive Advantage - The liquid cooling data center market in China is expected to grow at a compound annual growth rate of 59% from 2022 to 2027, potentially exceeding 100 billion yuan by 2027 [8]. - The company's liquid cooling products are characterized by high-efficiency cooling technology, providing precise cooling and low noise operation, enhancing the efficiency of IT equipment [8]. Group 5: Financial Management and Risk Control - The company has optimized its sales strategy to focus on order gross profit levels, resulting in a slight decrease in revenue but an increase in overall gross margin by 2.34% year-on-year [6]. - Measures to manage accounts receivable include optimizing customer credit assessments and establishing a tracking mechanism for contract performance [11].

Investment Rating - The report maintains a positive investment rating for the photovoltaic and wind energy sectors, highlighting a recovery in profitability and growth potential in these industries [2][8]. Core Insights - The report emphasizes the importance of government policies in promoting the use of advanced photovoltaic components, which is seen as a viable solution to address the issue of excess production capacity in the solar industry [7][8]. - The wind energy sector is experiencing a significant uptick in construction activity, with the first offshore wind project in Shandong officially commencing, indicating a positive trend in the industry [2][8]. - The report notes that the performance of the photovoltaic and storage sectors is stabilizing, with signs of a turning point in profitability expected in the near future [2][7]. Summary by Relevant Sections Photovoltaic & Energy Storage - The National Energy Administration has issued a notice to encourage the use of advanced photovoltaic components in large-scale projects, which is expected to enhance the competitiveness of the domestic photovoltaic manufacturing industry [7][8]. - The photovoltaic sector is projected to maintain high demand in 2024, with an expected 277 GW of new installations, representing a 28% year-on-year increase [7][8]. - The first quarter of 2025 saw a significant increase in new installations, with 60 GW added, marking a 31% year-on-year growth [7][8]. Wind Energy - The Shandong Peninsula North L offshore wind project has officially started construction, contributing to the acceleration of offshore wind development in China [2][8]. - The wind energy sector reported a net profit of 12.5 billion yuan in the first quarter of 2025, marking the first year-on-year profit increase in three years [2][8]. - The report highlights three main investment themes in the wind energy sector: improvement in profitability of turbine manufacturers, rising demand for offshore wind, and the release of profit elasticity in component prices [2][8]. Power Grid - The State Grid's second batch of bidding results for transmission and transformation equipment reached 17.64 billion yuan, a 13% year-on-year increase, indicating accelerated main grid construction [3][9]. - The report mentions the release of new bidding projects for distribution transformers and integrated products, with an estimated total bidding amount exceeding 6.5 billion yuan [3][9]. - The introduction of the basic rules for the auxiliary service market marks a significant step towards the market-oriented reform of power services in China [9][10]. New Energy Vehicles - The launch of the Lynk & Co 900, a six-seat plug-in hybrid SUV, has exceeded market expectations with a competitive pricing strategy [14][16]. - The report notes a significant increase in the sales of new energy vehicles, with a retail penetration rate of 52.3% in April 2025 [14][16]. Hydrogen Energy and Fuel Cells - The report indicates that hydrogen energy policies are expected to continue, with a focus on quality development and the promotion of the entire hydrogen industry chain [12][15]. - The hydrogen production capacity is projected to reach 120,000 tons per year by 2025, with significant growth in fuel cell vehicle production [12][15].

近日，兰圃新能源汽车零部件配套产业园项目签约福建省闽侯县。 项目预计今年6月动工，投产后，可实现年产值20亿元。该项目选址闽侯县祥谦镇，占地面积约224亩， 计划总投资50.3亿元 ，拟建设新能 源汽车零部件配套产业园，并运用大数据、云计算，实现制造产业的智能化、精细化和高效化发展，建设适用于新能源汽车配套产业、动力总 成（电机、电控、电池）、新材料、电子信息等新能源汽车上下游产业链配套的专用设备。 （ 来源： 闽侯县融媒体中心） | 往 | 期 | 回 顾 | | --- | --- | --- | | 01 | ｜ | 七大电芯厂业绩PK！ | | 02 | ｜ | 注资20个亿！宁德时代新设子公司 | | 03 | ｜ | 巨头退场！松下宣布关闭光伏业务部门 | | 04 | ｜ 举办 | 2025起点轻型动力电池及两轮车换电大会7月10-11日无锡 | | 中手新能源 沧州中孚新能源材料有限公司坐落在沧州经济开发区,专注于凝胶聚合物电解 质 膜 研发与生产。注册资金2.64亿元。总投资1亿元,为河北省重点建设项目单位, 致力于推动锂电池材料技术革新与新能源产业发展。 | | | 02 03 04 01 ...