Core Insights - The company aims to become a leader in the nutrition and health sector with a strategic roadmap for 2026-2028, focusing on global expansion and innovation [1][3] - The company plans to enhance its core capabilities through product innovation and operational efficiency, while also adapting to new consumer demands [1][2] Strategic Goals - The core objective is to transition from being the top player in China to a global leader, with a focus on differentiated growth strategies across regions [1] - The China region will drive revenue and profit growth through high-growth channels such as MCN, private domain, cross-border e-commerce, and new retail supermarkets [1] - The Americas will focus on establishing challenger brands and strengthening local capabilities, while Europe will expand production capacity and optimize customer structure to improve gross margins [1] - The Asia-Pacific region will leverage the Thailand factory as a model to penetrate the Australian and Southeast Asian markets [1] Core Competencies - The company is enhancing its product quality and speed by establishing an anti-aging research institute and focusing on innovative raw materials and processes [1] - It aims to reduce costs and improve efficiency through scale effects and refined operations, while also deepening differentiated services to create premium value for customers [1] - The company is building flexible production capacity and an agile delivery system to quickly respond to market demands [1][2] Digitalization and New Business Opportunities - Digitalization initiatives, including "dark factories," AI formulation engines, and CRM systems, are being implemented to enhance overall process efficiency [2] - New business ventures are focusing on AI-driven precise nutrition and pet services, with a gradual exploration of the TOC model for long-term growth [2] Global Expansion and Capital Empowerment - The company has established seven production bases and five R&D centers, covering over 50 countries, indicating a robust global presence [2] - Plans for an H-share listing are underway, which would address long-term funding needs and support the effective implementation of international strategies [2] Business Divestiture - The company plans to divest its BF personal care business, which has been underperforming and lacks synergy with its core nutrition health business, to improve overall financial performance [2][3] Financial Projections - Revenue projections for 2025-2027 are estimated at 4.45 billion, 4.94 billion, and 5.57 billion yuan, reflecting year-on-year growth of 6%, 11%, and 13% respectively [3] - Expected net profits for the same period are projected at 260 million, 390 million, and 500 million yuan, with year-on-year changes of -21%, 51%, and 29% respectively [3] - The company is assigned a PE ratio of 30, 20, and 15X for the years 2025, 2026, and 2027, respectively, with a "recommended" rating [3]

Core Insights - The company differentiates itself from domestic peers through its deep mining service expertise, unique "product + operation" model, high-quality customer resources, and forward-looking global layout [1] Group 1: Mining Service Expertise - The company has a profound understanding of mining operations and customer needs, stemming from its founder's experience in the mining tire service sector since the 1980s [1] - It possesses leading domestic and internationally advanced technology in giant tire research and development [1] Group 2: Unique Business Model - The "full lifecycle" service model for mining tires effectively enhances production efficiency, ensures production safety, secures supply chains, addresses customer funding issues for tire procurement, and manages service teams [1] - This model reduces the overall tire costs for customers while allowing the company to accumulate real-time operational data for continuous product iteration and optimization, creating strong customer loyalty and service barriers [1] Group 3: Customer Resources - The company has established long-term partnerships with numerous large mining companies and mining truck manufacturers, leveraging the market influence of leading industry clients to rapidly acquire more customer resources [1] - This foundation supports steady market expansion and sustainable performance growth [1] Group 4: Global Layout - The company is committed to providing all-steel giant tire products and services globally, with several subsidiaries overseas to quickly respond to localized market demands [1] - Its business spans dozens of countries, serving hundreds of mines with all-steel giant tire products or mining tire operation management services, facilitating leapfrog development through its global layout [1]

中经记者 陈燕南 北京报道 "我们不追求销量有多高，而是要稳扎稳打。"长城汽车董事长魏建军的声音里，藏着对企业穿越周期的 审慎与笃定。镜头另一端，小米董事长雷军在近日的直播中坦诚回应："2026年的挑战肯定不会少，也 不会容易。"而在中国一汽的新年献词现场，董事长、党委书记邱现东一句"开局即决战"，为整个企业 定下了紧绷的奋斗基调。北汽集团党委书记、董事长张建勇则以"迎万难，赢万难"为新年致辞主题，字 字铿锵间，尽是直面风浪的决心。 从老牌车企掌舵人的铿锵誓言，到新势力玩家的坦诚表态，这些来自行业一线的个体发声，拼凑出中国 汽车产业驶入深水区后，集体锚定的航行方向。 回望2025年，中国汽车行业的赛道上从未缺少风浪——价格竞争余温尚在，"新能源占比过半"的里程碑 悄然达成，"60天账期"的兑现承诺与"人形机器人初亮相"的技术惊喜交织出现。即便在这样的变幻与博 弈中，中国车市依然交出了亮眼答卷：全年乘用车零售总量突破2378万辆，新能源渗透率稳稳超过 50%。 风浪未停，征程再启。2026年开年，十余家主流车企几乎同步递出新年"答卷"。这些致辞风格各异，却 藏着高度一致的心跳：科技创新、转型突破、全球化布局。2 ...

Core Viewpoint - The battery industry is experiencing a significant price increase in core raw materials, particularly lithium hexafluorophosphate, which has surged from 49,300 yuan per ton in July 2025 to around 170,000 yuan per ton recently, prompting companies to raise battery prices by 15% [1][2]. Group 1: Price Increase and Market Dynamics - The rapid price increase of lithium hexafluorophosphate has caught the industry off guard, driven by unexpected demand in the energy storage and electric vehicle sectors, particularly in overseas markets [2]. - Global energy storage market is expanding rapidly, with expected shipments of over 650 GWh in 2025, representing a year-on-year growth of over 80%, while China's energy storage system shipments are projected to exceed 320 GWh, growing by 88% [2]. - The price of lithium hexafluorophosphate, which constitutes 40%-50% of the cost of electrolytes, has significantly impacted downstream battery prices, creating a ripple effect throughout the supply chain [3]. Group 2: Policy Impact and Industry Response - The policy changes in February 2025 aimed at promoting high-quality development in new energy have triggered a surge in new energy storage installations, with a monthly increase of over 460% in May 2025 [3]. - Despite the demand surge, the supply side remains cautious due to high production thresholds and previous losses in the raw materials sector, leading to a consensus against blind expansion [3]. Group 3: Technological and Strategic Shifts - The current price surge is seen as a catalyst for structural optimization in battery technology, shifting the focus from quantity to quality, as companies aim to enhance energy density and cycle life [4][5]. - Leading companies are now prioritizing advanced production lines for high-density, long-life lithium iron phosphate products and larger capacity energy storage cells [4]. - The industry is transitioning from price competition to value competition, emphasizing long-term economic viability, safety, and reliability over initial pricing [5]. Group 4: Supply Chain and Global Strategy - Companies are extending upstream to secure key resources, with strategic partnerships being formed to create stable and resilient supply chains [7]. - The industry is advised to enhance its bargaining power over upstream mineral resources and adopt diversified procurement strategies to stabilize supply [7]. - Globalization is becoming crucial for absorbing advanced production capacity and improving profitability, with a shift in competition from cost and scale advantages to compliance, brand, and service systems [7]. Group 5: Future Outlook - The next 3-5 years are expected to see a mainstream evolution of battery technologies, with material price fluctuations acting as a catalyst for a more resilient development model in the battery industry [8].

Core Insights - Haohan Energy has partnered with Australian charging operator EVIE to launch an electric vehicle charging map in Australia, enhancing the charging experience for local EV users, particularly ZEEKR users [1] - By December 2025, Haohan Energy plans to connect 350 stations and 1,282 charging guns in Australia [1] Company Overview - EVIE is the second-largest public fast-charging network in Australia, holding a 25% market share, and is expanding its partner network steadily [1] - The network operates on a self-built, self-owned, and self-operated model, utilizing 100% renewable energy for its infrastructure [1] Charging Network Details - The charging network focuses on interstate highways, with station spacing of only 150-200 kilometers [1] - It features Australia's only 100% direct current ultra-fast charging network, providing high-power charging stations with an average of 4-6 charging guns per station [1] - All charging stations support 350kW ultra-fast charging, allowing vehicles to gain 50-350 kilometers of range in just a few minutes, significantly improving charging efficiency for local users [1] Strategic Implications - The launch of the charging map not only enhances the charging experience for local EV users but also marks a significant step in Haohan Energy's global expansion strategy [1]

证券日报网讯1月9日，欧圣电气（301187）在互动平台回答投资者提问时表示，公司马来西亚超级工厂 设计年产值20亿元人民币，自2025年5月开始投入使用，产能逐步爬坡，目前已实现大规模量产，可基 本满足美国订单的生产和交付需求，当前设备稼动率稳定在80%以上，且工厂预留了未来扩产空间，为 后续业务增长提供支撑。马来西亚工厂与国内生产基地不存在重复投资及产能闲置风险。两者定位清 晰、协同互补：马来西亚工厂核心服务北美市场，有效规避关税壁垒，保障对美业务稳定交付；国内基 地重点服务非美市场，同时承担护理机器人及周边产品、气动工具等新品的生产任务，形成"区域产能 适配对应市场"的全球化布局，实现资源优化配置与风险对冲。 ...

行 业 研 究 [Table_Reportdate] 2026年01月09日 [table_invest] 标配 行 业 深 度 [证券分析师 Table_Authors] 陈芯楠 S0630525090001 cxn@longone.com.cn [table_stockTrend] -15% -5% 4% 14% 24% 34% 44% 25-01 25-04 25-07 25-10 申万行业指数:汽车(0728) 沪深300 [相关研究 table_product] 1.长安汽车（000625）：2025Q3营收 同环比增长，智驾、机器人发展规划 清晰 ——公司简评报告 2.继峰股份（603997）：2025Q3归母 净利环比高增，乘用车座椅订单持续 放量——公司简评报告 3.保隆科技（603197）：2025Q3毛利 率环比修复，业绩静待Q4订单释放 ——公司简评报告 [Table_NewTitle 出海引领，链动未来：奇瑞"技术筑基 ] + 电动智能+全球突破"下的产业链重构机 遇 ——汽车行业深度报告 [table_main] 投资要点： 证券研究报告 HTTP://WWW.LONGONE.COM ...

Group 1 - The core point of the article is the collaboration between Geely Haohan Energy and Australian charging operator EVIE, which has launched a charging map for electric vehicle users in Australia through the ZEEKR App [1] - By December 2025, Haohan Energy plans to connect 350 stations and 1,282 charging guns in Australia, enhancing the charging infrastructure for local electric vehicle users [1]

据星海情报局报道，近期，极智嘉-W再度中标东欧知名时尚零售集团2亿元订单，公司2025年东欧地区 总订单额已近5亿元。这标志着东欧市场已成为公司海外业务新增长点，也印证了公司全球化布局成效 卓越、商业化模式成熟且可跨地域复制。 极智嘉-W（02590）早盘股价上涨6.87%，现报25.84港元，成交额4679.57万港元。 报道指出，当前，东欧地区电商与物流行业正处于高速发展的活跃期，仓储自动化需求持续攀升。在此 背景下，极智嘉-W积极布局东欧市场，已在波兰建立东欧办公室和团队，依托成熟的技术方案以及对 本地需求的深刻洞察，接连落地多个智能仓项目，并收获了来自时尚零售、电商、物流等客户的广泛认 可。 来源：新浪港股 ...

消息面上，据星海情报局报道，近期，极智嘉-W再度中标东欧知名时尚零售集团2亿元订单，公司2025 年东欧地区总订单额已近5亿元。这标志着东欧市场已成为公司海外业务新增长点，也印证了公司全球 化布局成效卓越、商业化模式成熟且可跨地域复制。 报道指出，当前，东欧地区电商与物流行业正处于高速发展的活跃期，仓储自动化需求持续攀升。在此 背景下，极智嘉-W积极布局东欧市场，已在波兰建立东欧办公室和团队，依托成熟的技术方案以及对 本地需求的深刻洞察，接连落地多个智能仓项目，并收获了来自时尚零售、电商、物流等客户的广泛认 可。 极智嘉-W(02590)涨超4%，截至发稿，涨4.38%，报25.32港元，成交额2090.69万港元。 ...