Core Viewpoint - The rapid development of new energy storage technologies, particularly compressed air energy storage (CAES), is becoming a significant support for the new power system in China, with installed capacity exceeding 75 million kilowatts as of February 2024, and utilization hours expected to double compared to 2023 [1][2]. Group 1: Technology and Efficiency - Compressed air energy storage typically has a storage capacity of 4 to 10 hours and is recognized for its high power output, large capacity, long lifespan, and environmental safety, making it a favored technology in the market [2]. - The efficiency of CAES systems has improved significantly, with the rated efficiency increasing from 52.1% for a 1.5 MW system 12 years ago to 72.1% for a current 300 MW system, indicating ongoing technological advancements [2]. - The company aims to enhance the single-unit scale of CAES and reduce losses through thermal recovery and energy conversion innovations, which will lead to both efficiency improvements and cost reductions [2]. Group 2: Market Demand and Renewable Energy - The growth of long-duration large-scale energy storage technologies, including CAES, is closely linked to the continuous increase in renewable energy installations, with renewable energy capacity reaching 1.889 billion kilowatts by the end of 2024, a 25% year-on-year increase [3]. - The share of new energy storage projects with a duration of 4 hours or more has risen to 15.4%, reflecting the growing demand for such technologies [3]. Group 3: Future Prospects and Marketization - The increasing demand for renewable energy will enhance the need for grid regulation capabilities, creating broader development opportunities for long-duration large-scale energy storage [4]. - The market for energy storage will require diverse solutions, including short-term, medium-term, and long-term storage technologies, with CAES being a viable option for peak regulation [4]. - The future of energy storage must be market-driven, addressing issues such as pricing mechanisms and the need for a complete industrial chain and standard system to fully realize the market value of CAES [5].

证券代码：300105 证券简称：龙源技术 公告编号：定2025-002 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 中兴华会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 本报告期会计师事务所变更情况：公司本年度会计师事务所为中兴华会计师事务所（特殊普通合伙）， 未变更。 非标准审计意见提示 □适用 √不适用 公司上市时未盈利且目前未实现盈利 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 2、报告期主要业务或产品简介 √适用 □不适用 公司经本次董事会审议通过的利润分配预案为：以515,814,420股为基数，向全体股东每10股派发现金红 利1.00元（含税），送红股0股（含税），以资本公积金向全体股东每10股转增0股。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 1、公司简介 （一）行业基本情况及发展阶段 中国电力企业联合会《2024-2025年度全国电力供需形势分析 ...

Core Viewpoint - Energy storage plays a crucial regulatory role in the new power system, significantly promoting the development and consumption of renewable energy, and is recognized as essential for achieving carbon neutrality goals [1][5]. Group 1: Seminar Overview - A seminar on cutting-edge energy storage technology and project development was held in Hangzhou from March 20-22, organized by China Energy News [1]. - The seminar included in-depth discussions on energy storage technology, industry hotspots, and optimization of commercial energy storage station operations [1]. Group 2: Field Visit Insights - Participants visited the Hangzhou Taihu Source Energy Storage Station to gain practical insights into operational management and maintenance of energy storage facilities [1][3]. - Engineers provided detailed explanations on equipment maintenance, emergency response plans, and regular inspection processes [3]. Group 3: Project Details - The Hangzhou Taihu Source Energy Storage Station is a key demonstration project in Zhejiang's 14th Five-Year Plan, with a total investment of approximately 257 million yuan and a maximum charge and discharge power of 80 megawatts [5]. - The station, covering nearly 20,000 square meters, has a total storage capacity of 160 megawatt-hours and is the largest single-capacity energy storage station in the Hangzhou area [5]. - The project is expected to enhance the region's renewable energy consumption capacity and load regulation, contributing to the green and low-carbon energy transition [5]. Group 4: Operational Management - The energy storage station emphasizes a "prevention first, regular inspection" approach in its operational management, utilizing advanced monitoring and data analysis to identify potential risks [5]. - The integration of a digital platform allows for real-time monitoring and data collection, ensuring the safety, stability, and efficiency of long-term operations [3]. Group 5: Industry Context - China Energy News, under the auspices of the People's Daily, serves as a comprehensive energy industry economic newspaper, supporting national energy transition and carbon neutrality goals [6]. - The seminar aligns with the demand for talent development in the energy storage sector, combining theoretical knowledge with practical application [6].

3月5日，超威集团与国家电力投资集团能源科学技术研究院（以下简称：国家电投能研院）签 订战略合作协议。 双方将充分发挥各自在产业、资源、技术、人才和科技创新等方面的优势，开展全方位、宽领 域、多层次的深度合作，共同探索、攻克重大共性关键技术和前沿引领技术，共同打造技术验 证及示范基地，实现互利共赢。 望通过与国家电投能研院的深入合作，充分发挥各自在储能产品研发、系统集成验证及市场资 源等方面的优势，推动双方企业高质量发展。 国家电投能研院党委书记、董事长顾皑表示，国家电投能研院是国家电投非核产业应用技术创 新和成果转化推广的重要依托。希望今后双方能够共同推动新型储能技术的创新突破和商业化 应用，助力构建以新能源为主体的新型电力系统，为实现"双碳"目标贡献力量。 （ 来源：企业 官微 ） 1、 2025起点软包电池全国巡访调研活动正式启动 2、 多氟多第三代大圆柱电池应用"全面开花" 3、 宁德时代敲定10万吨采购大单 4、 央企收购动力电池企业！ 签约仪式现场，超威集团董事长周明明董事长对顾皑书记一行的到来表示欢迎。他指出，超威 是一家注重科技创新的企业，围绕绿色能源发展确立了移动能源和固定能源两条战略路径。 ...

电力设备及新能源 分析师：唐俊男 登记编码：S0730519050003 tangjn@ccnew.com 021-50586738 电力设备及新能源相对沪深 300 指数表现 相关报告 《电力设备及新能源行业专题研究：BC 电池 平台型技术优势明显，关注龙头商业化进 程》 2025-02-19 《电力设备及新能源行业月报：宏观信心增 强，海外需求不减，关注输变电行业龙头》 2025-01-27 《电力设备及新能源行业月报：2024 年国内 新增光伏装机再创历史新高，光伏主产业链 价格企稳》 2025-01-27 投资要点： ⚫ 2 月光伏产业指数震荡走高，个股表现良好。受整体 A 股市场投资 风险偏好提升和光伏产品价格企稳等因素影响，本月光伏指数表现 良好。截至 2 月 27 日收盘，2 月光伏行业指数上涨 6.32%，跑赢 沪深 300 指数，全部细分子行业均实现上涨，大部分个股取得正向 收益。 证券研究报告-行业月报 强于大市(维持) 本报告版权属于中原证券股份有限公司 www.ccnew.com 请阅读最后一页各项声明 第1页 / 共13页 深化新能源上网电价市场化改革政策 出台，光伏组件价格有所上调 ...