回首IPO路程，首航新能源也经历过一些风风雨雨。 这场IPO从2022年6月16日获受理，到现在申购阶段已经历时接近3年，募资金额也随着行业的 调整开始回落，从35.12亿元降至约12.11亿元。 业绩一直是投资者参考的重要标准，招股书显示该公司2021年-2024上半年营收分别约为18.2 亿元、44.5亿元、37.4亿元、14.69亿元，扣非净利润分别约为2.6亿元、8.4亿元、3亿元、1.2 亿元，跟随者行业一起经历了大起大落。 该公司主要收入来自境外，2021年-2024上半年境外收入占比分别约为88%、89.6%、75.5%、 83%，2023年以来海外对于储能和光伏的需求区域饱和，影响了公司效益。此外该公司对于大 客户的依赖性也较高，报告期内五大客户的销售额占比均超过50%以上，且以上两种现象并不 会在短时间内解决。 也就是说，如果行业趋于稳定，那么首航新能源的基本盘就会固定，上市后也让很难会有大规 模的变动。 光伏储能双驱动的首航新能需要资本力量扩大舞台。 起点锂电获悉， 3月24日首航新能源开启申购，公开发行4123.71万股人民币普通股（A股）， 发行价格为11.80元/股，共计募资12.1 ...

Core Viewpoint - Hunan Yuno's 2024 annual report indicates significant declines in revenue and profit, primarily due to falling lithium carbonate prices and increased competition, despite a growing demand in the electric vehicle and energy storage markets [1][2]. Financial Performance - Hunan Yuno achieved a revenue of 22.599 billion yuan in 2024, a year-on-year decrease of 45.36% - Net profit was 594 million yuan, down 62.45% year-on-year - Deducted non-recurring net profit was 570 million yuan, also down 62.44% year-on-year [1]. Product and Market Analysis - The main revenue source for Hunan Yuno is phosphate-based cathode materials, generating 22.215 billion yuan, accounting for 98.30% of total revenue - The company reported a shipment volume of 710,600 tons of phosphate cathode materials in 2024, representing a year-on-year increase of 40.20% - Hunan Yuno has maintained the highest market share in the industry for five consecutive years since 2020 [1]. Regional Sales Distribution - Hunan Yuno's sales are primarily concentrated in domestic markets, particularly in East China, South China, Southwest China, and Central China [1]. Production Capacity and Expansion - As of the end of 2024, Hunan Yuno has a designed production capacity of approximately 850,000 tons for phosphate cathode materials - The company plans to establish its first overseas production base in Spain, with a total investment of 982 million yuan, aimed at producing 50,000 tons of lithium iron phosphate cathode materials annually [2].

Summary of CATL Conference Call Company Overview - **Company**: CATL (Contemporary Amperex Technology Co., Limited) - **Industry**: Battery Manufacturing, specifically focusing on power batteries and energy storage solutions Key Points and Arguments Financial Performance - In 2024, CATL achieved total revenue of 362 billion CNY and a net profit of 50.7 billion CNY, representing a year-on-year growth of 15% [4] - The comprehensive gross margin was 24.4%, an increase of 5.3 percentage points year-on-year [4] - Operating cash flow reached 97 billion CNY, with cash reserves exceeding 300 billion CNY by year-end [4] Market Position - CATL maintained its position as the global leader in power batteries for eight consecutive years, with a market share of 37.9% in 2024 [2][4] - The company also led the energy storage battery market for four years, achieving a market share of 36.5% in 2024 [2][4] Research and Development - CATL has invested heavily in R&D, operating six R&D centers with over 20,000 personnel and holding a total of 43,354 patents [2][5] - The company innovates rapidly, averaging one patent every 1.58 hours, which supports product iteration and market expansion [2][5] Product Innovations - New products such as the Kirin battery and Shenting battery have been mass-produced in various models, enhancing electric vehicle performance [2][6] - The Kirin high-power battery has a discharge power exceeding 1,300 kW, while the Shenting Plus battery achieves a range of 1,000 km [2][6] Commercial Vehicle Sales - Sales of commercial vehicle power batteries increased by 98% year-on-year, with heavy-duty truck battery sales up by 144% [2][7] - CATL introduced the Tianxing L ultra-fast charging series and heavy-duty commercial versions to meet diverse application needs [2][7] Energy Storage Market - CATL is actively expanding in the energy storage market, becoming the preferred supplier for the UAE RTC19 data center project and collaborating on Australian energy storage projects [2][8] - The company launched the PU100 energy storage product to meet urgent backup needs in data centers [2][9] Battery Swapping Solutions - The company introduced the "Chocolate Swap" technology, allowing battery swaps in 100 seconds, significantly improving charging efficiency [2][10] - Collaborations with multiple automakers and operators aim to promote battery-swapping vehicles and solutions [2][10] Future Growth Expectations - CATL anticipates strong growth in both power and energy storage businesses in 2025, driven by increasing electrification penetration and data center demand [3][12] - The company expects the electric vehicle penetration rate in China to reach 80% to 90% by 2030, with traditional fuel vehicles gradually phased out [3][14] Strategic Partnerships and Projects - CATL signed strategic cooperation agreements with various provinces to promote green electricity and energy storage projects [2][11] - The company aims for carbon neutrality in core operations by 2025, with a current zero-carbon operation ratio of 74.5% [2][11] Market Trends and Challenges - The company noted potential risks from raw material price fluctuations and policy changes affecting the market [3][12] - Despite a seasonal slowdown, the first quarter of 2025 showed better performance compared to previous years, indicating a positive market trend [3][14] Inventory and Supply Chain Management - The increase in year-end inventory was primarily due to goods in transit, which are expected to convert to revenue in the following quarter [39] - The company maintains a high capacity utilization rate, with plans for gradual capacity expansion to meet growing demand [40][27] Regulatory and Economic Factors - Changes in export tax rebates and accounting standards are expected to impact profit margins, but CATL plans to collaborate with customers to mitigate these effects [47][31] - The company is optimistic about its ability to maintain competitive pricing despite increased tariffs in the U.S. market [44] Conclusion - CATL's strong market position, continuous innovation, and strategic partnerships position it well for future growth in the rapidly evolving battery and energy storage markets. The company remains focused on addressing challenges while capitalizing on emerging opportunities.

锂电行业各细分市场陆续公布2024年成绩单。磷酸铁锂领域，湖南裕能作为全球领先的龙头企业，率先 公布业绩。 3月15日，湖南裕能正式发布2024年年度报告，全年实现 营业收入225.99亿元，同比下降45.36%；净 利润5.94亿元，同比下降62.45%；扣非净利润5.70亿元，同比下降62.44%。 | | 2024 年 | 2023 年 | 本年比上年 | 2022 年 | | --- | --- | --- | --- | --- | | | | | 增减 | | | 营业收入(元) | 22, 598, 527, 203. 79 | 41.357.670. 979.28 | -45. 36% | 42.790.361.250.00 | | 归属于上市公司股东的净利润(元) | 593, 552, 116. 99 | 1.580.629.275.19 | -62. 45% | 3.007. 205. 835. 14 | | 归属于上市公司股东的扣除非经常性 损益的净利润(元) | 570. 299. 929. 65 | 1. 518. 360. 333. 91 | -62. 44% | 3.032.6 ...

倒计时16天 2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 2025年全球储能市场需求持续爆发，订单增势不减。开工首日，力神便迎来储能项目的"开门 红"。 据报道， 2月5日，力神（青岛）与欧洲某大型能源集团签订2GWh订单。 在此次项目签约 前，该公司刚刚向印度客户成功交付48MWh液冷储能项目。 强强联合叠加2GWh规模的订单预计将为力神进一步打开欧洲储能市场，助力打造在欧洲当地 市场的品牌影响力，为后续客户开拓奠定坚实基础。 可以明显看到，瞄准市场需求，力神自去年至今在储能赛道大展身手，从新品发布到市场开拓 频现身影，成为最活跃的几家储能电池企业之一，积极参与全球储能市场份额争夺战中。 01 订单爆满 回顾力神2024年储能市场表现，其在国内外市场"攻城略地"，交出一份相当优异的答卷。 国内市场，4月，力神电池与杭州宋都储能、中冶纸业、湖南泰格林纸、湖南骏泰新材料等企 业签订合作协议，拿下超200MWh储能订单；同时，力神电池12MW/24MWh储能电站在珠海 投运。 8月27日，中国电气装备集团14.54GWh储能项目集采开标。其中，力神电池获得2.12GWh订 单。 9月，武汉力神 ...

2月7日，亿纬锂能发布公告称，子公司亿纬动力与储能系统集成商 海博思创 签订合作协议， 双方同意建立电芯产品战略采购合作关系， 预计2025-2027年度采购总量为50GWh。 平均来看，每年亿纬锂能将向海博思创提供超16GWh的储能电芯产品。以1GWh储能电芯产品 价值4亿元计算，上述订单总价或达到200亿元。超过此前与Powin和AESI约定的15 GWh与 19.5 GWh采购规模。 据了解，海博思创专注于电化学储能系统解决方案与技术服务，今年1月在上交所科创板上 市，成为国内第一家以储能系统集成为主业的上市公司。 在储能业务中，海博思创一直外购储能电芯。据招股书显示，其储能电芯供应商包括宁德时代 与亿纬锂能等多家企业，在2024年上半年，亿纬锂能已成为海博思创的第一大储能电芯供应 主办单位： 起点锂电、起点研究院（SPIR） 活动时间： 2025年2月28日 活动地点： 深圳宝安登喜路国际酒店2楼国际厅 活动规模： 500+人 倒计时20天 2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 活动主题： 聚集新材料 探索新工艺 亿纬锂能强势"收割"储能市场，再度拿下大规模订单。 此外，在动 ...