行家说储能 日前，行家说储能报道了两个工商业储能项目的落地（ 点这里 ）；近日又有4家企业公布储能项目最新进展，涉及天合光能、海尔新能源、奇点能源、科华 数能。值得注意的是，企业越来越强调对于储能项目的响应速度、交付效率以及服务能力。 ▋ 天合光能：300MWh海外项目2个月投运 近日，由天合储能供货，AMEA Power投资与浙江火电共同建设的埃及Abydos大型储能电站项目成功并网投运， 项目从设备进场吊装到并网，天合光能仅用2个 月。 该项目的核心是海尔新能源全栈自研的"智储星盘"AI云平台，其能根据实时天气、电价、用电负荷等数据，智能优化充放电策略，达成能源"自发自用、余电上 网"的闭环管理。经海尔新能源测算，平均每年降低约30%的电费支出，15年总综合收益超2800万元。 值得一提的是，今年4月海尔新能源获得A轮超7亿元的融资。此外，除了在国内市场公开多个储能项目落地外；海尔新能源也在加速海外市场储能布局，此 前公布了与 德国工商业储能领域的专业服务商Cell Mind GmbH、法国巴黎银行个人金融集团 (BNP Paribas Personal Finance)、荷兰专业渠道商GL Link、欧 ...

铭利达 20250709 摘要 铭利达早期依赖光伏领域，特别是 Solaredge 和 Enphase 两大客户， 2022 年业绩高速增长，但 2023 年底受逆变器去库存影响，业绩和股 价承压，与主要客户股价呈现强相关性。 2024 年，铭利达面临国内市场竞争加剧、海外光储逆变器去库存、海 外汽车客户放量不足等多重挑战，导致营收大幅下滑，毛利率下降，并 计提 1.8 亿元资产减值损失，整体亏损达 4.7 亿元。 公司积极拓展汽车领域客户，但国内市场竞争激烈导致汽车业务毛利率 大幅下滑至 12.1%，同比下降 7.8 个百分点，对整体盈利能力造成负面 影响。 铭利达为应对产能受限，在国内和海外大幅扩产，但海外基地建设周期 长，前期成本费用高，导致 2024 年仍处于亏损状态，资本开支压制了 2022-2024 年的盈利水平。 公司通过关停并转国内生产基地，计提资产减值损失，并重点拓展新能 源汽车领域的国内外客户，2024 年新能源汽车营收占比已达 56%，预 计 2025 年仍将是最高营收占比行业。 Q&A 铭利达公司在 2023 年面临哪些主要挑战？ 2023 年铭利达公司面临三重压力。首先，海外光储市场 ...

Investment Rating - The industry investment rating is "Positive" [4] Core Viewpoints - The necessity for supply-side reform in the photovoltaic industry is highlighted due to ongoing profitability pressures, with over 150 companies expected to face bankruptcy or liquidation by mid-2025 [2] - The industry has experienced significant price declines since Q4 2023, leading to widespread losses among major companies, with a notable shift towards a cash-negative state by Q1 2025 [2][11] - The demand for photovoltaic products is expected to rebound in the medium to long term as energy storage economics improve, particularly after the implementation of the "136 Document" [3][20] Summary by Sections Event Description - Major polysilicon manufacturers raised prices to 37 CNY/kg as of July 7, 2025, with full costs estimated above 39-40 CNY/kg [1][11] Event Commentary - The photovoltaic sector has seen leading companies enter a phase of substantial losses since Q4 2023, necessitating coordinated supply-side reforms among key industry players [2] - Historical supply-side reforms in related industries have led to significant increases in Producer Price Index (PPI), indicating potential for recovery in the photovoltaic sector [2][14] Industry Performance - In May 2025, photovoltaic grid connections reached 9.3 GW, a 388% year-on-year increase, but demand is expected to face short-term pressure due to earlier overcapacity [3][20] - The future of photovoltaic demand is contingent on achieving price parity in energy storage solutions, which is anticipated to unlock new market opportunities [3][20]

水力发电 2025 年 07 月 10 日 公 司 研 究 长江电力（600900.SH） 1H25 乌东德来水偏丰，抽蓄持续建设发展 投资要点： 事件：公司发布了 2025 年半年度发电量完成情况公告。 华福证券 公 司 动 态 跟 踪 1H25 乌东德来水偏丰，2Q25 发电量基本持平：根据公司初步统计， 2025 年上半年，乌东德水库来水总量约 399.64 亿立方米，较上年同期偏丰 9.01%；三峡水库来水总量约 1355.32 亿立方米，较上年同期偏枯 8.39%。 2025 年上半年，公司境内所属六座梯级电站总发电量约 1266.56 亿千瓦时， 较上年同期增加 5.01%。其中，第二季度公司境内所属六座梯级电站总发 电量约 689.77 亿千瓦时，较上年同期增加 1.63%。2025 年第二季度，乌东 德电站总发电量 84.13 亿千瓦时，同比+7%；白鹤滩电站总发电量 131.16 亿千瓦时，同比+16.24%；溪洛渡电站总发电量 147.63 亿千瓦时，同比 +9.78%；向家坝电站总发电量 85.5 亿千瓦时，同比+7.86%；三峡电站总发 电量 194.51 亿千瓦时，同比-12.37% ...

Investment Rating - The report upgrades the investment rating to "Strong Buy" [3][28]. Core Views - The company has been deeply involved in the distributed solar storage industry for many years and is increasing investments in new products and markets following its 2024 IPO. The residential storage business is recovering after a downturn in the second half of 2023, and the commercial storage business is expected to drive new growth due to the promotion of dynamic electricity pricing in Europe [1][7]. - The company is expected to benefit significantly from Australia's "Cheaper Home Batteries" subsidy program, which has a total scale of AUD 2.3 billion, aimed at reducing upfront costs for residential storage systems [15][7]. - The company has made substantial investments in research and development, with a significant increase in sales personnel and total salary expenses, indicating a strong commitment to expanding its product matrix and market reach [7][8]. Financial Data and Valuation - Total revenue is projected to recover from CNY 3,073 million in 2024 to CNY 4,613 million in 2025, with a year-on-year growth of 50% [2][28]. - The net profit attributable to the parent company is expected to increase from CNY 204 million in 2024 to CNY 411 million in 2025, reflecting a growth rate of 102% [2][28]. - The company’s price-to-earnings (PE) ratio is projected to decrease from 51.0 in 2024 to 25.3 in 2025, indicating improved valuation as earnings recover [2][28]. Business Performance - The residential storage business is gradually recovering, with European inventory levels returning to normal and emerging markets showing increasing demand [15][7]. - The commercial storage business is expected to see significant growth, particularly in Europe, where the company has established a strong position and is poised to benefit from the introduction of dynamic pricing in Germany starting in 2025 [19][7]. - The company’s sales regions have expanded to over 110 countries, with non-European revenue increasing by over 60% in 2024, indicating successful market diversification [7][8]. Profitability Forecast - The company is expected to achieve revenues of CNY 61.32 billion and CNY 70.67 billion in 2026 and 2027, respectively, with a gross margin of approximately 34% [28][39]. - The net profit forecast for 2026 and 2027 is CNY 6.91 billion and CNY 9.22 billion, respectively, indicating a healthy growth trajectory [28][39].

近日，国家发展改革委、国家能源局等四部门联合印发《关于促进大功率充电设施科学规划建设的 通知》，稳步构建布局合理、品质升级、技术先进的大功率充电基础设施体系，适时打造一批具有 示范作用的大功率充电应用城市与高速走廊，力争到2027年底全国范围内大功率充电设施超过10 万台。文件的出台，是否意味着我国超充时代加速来临？ 随着暑假来临，高速也迎来暑期出行高峰。在苏浙皖三省交界处的浙江省长兴县境内，各条高速公 路车流量开始逐渐上升，G25杭宁高速、G50申苏浙皖高速的主线流量较平时增长约30%。国网长 兴县供电公司智电专职曾晓炜介绍，为了提高出行效率，当地高速供电等部门在沿线服务区新增了 多台大功率充电桩。 曾晓炜 ： 最近，我们在G50申苏浙皖交界处的"煤山服务区"新增了16台充电桩，其中包括14台 250KW的快充和2台600kW的超充桩。用超充电桩充电，一辆车充满电只需10分钟不到，相当于 车主上个厕所、喝杯咖啡，回来就充满了。为车主提供稳定、高效的充电服务，全力护航群众绿色 出行。 暑期出行高峰下，长三角高速服务区的充电基础设施升级正成为保障绿色出行的关键一环。而这一 场景，恰与国家推动大功率充电设施建设的 ...

光储一体化构建"能源闭环" 当新能源汽车续航里程普遍突破500公里后，充电效率已成为用户体验的 "最后一块短板"。数据显示， 当前市场主流充电站完成 80% 充电需30-60分钟，而用户对加油式极速补能的需求愈发迫切。 与此同时，深圳作为"超充之城"的先行者，其新能源汽车保有量年均增速超30%，传统充电站在高峰时 段的集中负荷已多次引发局部电网波动。 "深圳超充"标识的严苛之处，正在于直击这些核心矛盾 —— 不仅要求充电枪持续输出高功率，更需在 能源效率、安全稳定性、电网兼容性等维度达到行业顶尖水平。 瑞能股份能通过这一认证，背后是22年深耕电池检测、储能系统研发积累的技术底气，其光储超充站将 快速补能与绿色可持续的双重需求，装进了同一个解决方案。 在新能源汽车产业狂奔的赛道上，充电环节的 "卡脖子" 问题愈发刺眼：30 分钟以上的等待时长、高峰 时段的电网过载风险、火电为主的能源结构与绿色出行的矛盾，成了横亘在行业升级路上的三道难关。 而深圳市瑞能实业股份有限公司(以下简称 "瑞能股份")子公司深圳市瑞能时代科技有限公司(以下简称 "瑞能时代")研发及自建的尚智科技园光储超级充电站，以"10分钟充电80%" ...

董秘： 尊敬的投资者您好！股价波动受宏观和行业政策、全球贸易政策、基本面、资金面等诸如方面 影响，公司董事长、管理层始终深耕生产经营，严守规范运作准则，以业绩力筑投资者回报基石。与此 同时，我们完善投资者关系管理体系，高度重视与投资者的沟通，致力于传递公司的内在价值，感谢您 的关注。 截至2025年7月4日收盘，通润装备(002150)报收于11.82元，下跌2.48%，换手率3.52%，成交量12.63万 手，成交额1.5亿元。 董秘最新回复 投资者： 贵司公司董事长有效保障公司的稳健发展。但贵司股价从23年至今长期下跌，董事长采取了 哪些措施？经验丰富的管理团队，建立的现代企业管理制度是让企业市值持续下跌？ 交易信息汇总：7月4日主力资金净流出2087.69万元，游资资金净流出428.77万元，而散户资金净 流入2516.46万元。 交易信息汇总 7月4日，通润装备的资金流向显示主力资金净流出2087.69万元；游资资金净流出428.77万元；散户资金 则呈现净流入状态，金额为2516.46万元。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不 ...

为推动新一代煤电全方位升级，北仑电厂在一期改造项目中投入1.6亿元，开展1000兆瓦超超临界二次 再热机组低碳高效灵活协同关键技术研究，创新实施12级回热、烟气余热高效利用、新一代脱硫除尘一 体化等10余项技术，有效提升机组整体能效。同时，利用多能互补和储能耦合技术，实现火、风、光、 储多能协同和工业供热经济性的同步优化，厂内2台6.25兆瓦风电与47.57兆瓦光伏全部接入电网，实现 绿电100%消纳。试运行期间，8号机组平均负荷率达100.1%；各项性能指标优异；颗粒物、二氧化硫、 氮氧化物的平均排放浓度分别为0.6、5、16毫克每标准立方米，达到国内同类型机组领先。 北仑电厂是我国首家利用世界银行贷款建设的火电厂，首台机组于1991年建成投产，截至今年6月已累 计完成发电量超6700亿千瓦时。2009年起北仑电厂实施全厂对外供热，2011年完成国内首台背压机驱动 引风机改造，2012年完成国内首台600兆瓦机组增容提效改造，2020年完成国内首台1000兆瓦机组增容 提效改造，2021年全面完成7台机组汽轮机通流改造，2024年实现厂内"火风光储"多能联动。 记者6日从国家能源集团获悉，当日国能浙江北仑电 ...

Core Viewpoint - The article discusses the recent developments and strategic moves of CATL (Contemporary Amperex Technology Co., Limited), highlighting its partnerships, investments, and innovations in the battery industry, particularly in the context of expanding its global footprint and enhancing its technological capabilities [2][3][5][9]. Group 1: Strategic Partnerships and Investments - CATL has deepened its collaboration with Geely Automobile, focusing on power battery technology synergy, product platform integration, and supply chain development, which has been ongoing for over a decade [2]. - A significant investment of nearly $6 billion has been made in a nickel resource and battery industry chain project in Indonesia, which aims to produce batteries for 200,000 to 300,000 electric vehicles annually and expand into the energy storage sector [3]. - The Luoyang base has achieved a production value exceeding 9.2 billion yuan for its first phase, with plans for further expansions that could lead to an annual production value exceeding 200 billion yuan [3]. Group 2: Global Expansion and Market Positioning - CATL is accelerating its overseas expansion, particularly in South Korea, where it is hiring technical engineers amid a large-scale energy storage project tender [5][6]. - The company is focusing on establishing production capacity in Europe, with plans for approximately 200 GWh of capacity in Germany, Hungary, and Spain, expected to be operational by 2027 [6]. - The competitive landscape in Europe is intensifying, necessitating CATL to act as a catalyst in the energy transition process [6]. Group 3: Innovation and Technological Development - Innovation is a core aspect of CATL's strategy, with a commitment to open innovation and collaboration in new materials and technologies to enhance global energy transition efforts [10][11]. - The company has developed the LRS model (Licensing, Authorization, Service) to assist partners in quickly establishing manufacturing capabilities, which has been well-received by clients like Ford [11]. - CATL's leadership in the industry is attributed to its strong technical foundation, stable operations, and a well-established supply chain that fosters collaboration [12].