海外市场拓展成果的持续兑现，离不开东方日升深厚的技术积淀与全产业链布局优势。作为深耕锂电池 领域20年的行业先锋，东方日升已构建起研发、生产、销售、服务一体化的全链条能力，产品线覆盖储 能变流器（PCS）、电池管理系统（BMS）、能量管理系统（EMS）、电池系统，以及面向户用、工商 业及大型光储场景的全栈式解决方案。依托自主研发的"4S 深度融合技术"，东方日升打造出适配可再 生能源并网、电网调峰调频、需求侧响应、应急电源及微电网等多元应用场景的高可靠性储能系统。尤 为值得一提的是，东方日升的储能电池系统是国内首家同时通过中国国标认证与美国UL9540A安全认 证的产品，充分印证公司产品的国际级品质与安全标准。 据Global Market Insights测算，全球储能系统市场规模2024年已站上6687亿美元基点，预计2034年将飙 升至5.12万亿美元，2025-2034年CAGR高达21.7%。作为现代能源体系的关键支撑环节，我国储能产业 顺势步入全球规模性爆发周期，行业景气度持续高企。 12月9日，东方日升（300118）宣布，公司近期与巴西工业领军企业WEG公司正式签署总容量达3GWh 的储能系统 ...

Investment Rating - The report recommends a "Buy" rating for the industry, predicting that the industry index will outperform the Shanghai Composite Index by 10% or more during the specified period [5]. Core Insights - In Q3 2025, the company's battery business revenue decreased by 23.2% year-on-year to 2.82 trillion KRW, with an operating loss of 630.1 billion KRW attributed to a slowdown in electric vehicle battery sales and tariffs on energy storage system batteries in the U.S. [2][3] - The company has signed supply contracts exceeding 110 GWh with several global automotive groups and has secured a significant portion of orders in a government-led energy storage system project [3]. - The company plans to enhance its presence in the energy storage system market and improve operational efficiency, with a projected annual production capacity of 30 GWh for energy storage system batteries in the U.S. by the end of next year [6]. Financial Performance Summary - For Q3 2025, the company's total revenue was 3.05 trillion KRW (21.3 billion USD), a decrease of 22.5% year-on-year and 4% quarter-on-quarter [1]. - The operating loss for Q3 2025 was 591.3 billion KRW (4.16 billion USD), marking a shift from profit to loss compared to the previous year [1][2]. - The company's cash and cash equivalents remained stable at 2.15 trillion KRW at the end of Q3 2025, compared to 2.15 trillion KRW in Q2 2025 [1]. Business Segment Performance - The battery business revenue was 2.82 trillion KRW, down 23.2% year-on-year and 4.8% quarter-on-quarter, with an operating loss of 630.1 billion KRW [2]. - The electronic materials business generated revenue of 231.8 billion KRW, a 6.2% increase from the previous quarter but a 12.1% decrease year-on-year, with operating profit rising by 17.6% to 38.8 billion KRW [2].