AI算力爆发，科技巨头布局储能，数据中心储能成为增长最快的细分赛道？ 阿里巴巴今日宣布推进3800亿的AI基础设施建设，并预计数据中心能耗规模将提升10倍，由此会带来多大的储能需求？此前5天，抖音也抛出200MWh储能 大单。 ▋ 阿里巴巴：能耗提升10倍背后的储能需求 在9月24日举行的云栖大会上，阿里巴巴集团CEO、阿里云智能集团董事长兼CEO吴泳铭表示， 目前阿里正积极推进3800亿的AI基础设施建设，并计划追 加更大的投入。 为迎接ASI（超级人工智能）时代的到来，对比2022年这个GenAI的元年，到2032年阿里云全球数据中心的 能耗规模将提升10倍 。 在能耗提升10倍的同时， 阿里云需将 PUE（数据中心能耗效率）从 2022 年的 1.25 进一步降至 1.1 以下。 为此，阿里云正着力突破浸没式液冷技术、光 储直柔系统、光子芯片三大技术瓶颈，并大力推动 "可再生能源+储能"解决方案。 据明阳智能9月10日披露，其与阿里巴巴联合打造的张家口数据中心源网荷储一体化项目已于2024年启动，总投资14亿元，规划配套200MW风电、 40MW/160MWh电化学储能系统，建成后年发电量预计可达7.9 ...

AI 浪潮下，新能源应用转型提速，新市场、新机遇悄然而至。 比如，数据中心储能正迎来爆发式增长，正成为 AI 与能源革命交汇的"确定性赛道"。在政策和市场需求驱动下，起点锂电预计，至 2030 年 全球数据中心储能新增装机容量增长超 10 倍。 2025 年 9 月，字节跳动采购部发布《抖音集团数据中心风光储微网合同能源管理寻源公告》，宣布在中国大陆寻找合作伙伴，共同建设融 合风能、太阳能与大规模储能的微网系统。 这一项目包括 200MWh 以上大规模锂电储能、与储能相匹配的风电、光伏设备以及微网控制系统。 抖音集团此次招标旨在满足其数据中心 持续扩张带来的能源消耗与供电稳定性需求增长。 200MWh 大单！ AIDC+ 储能需求爆发 具体来看，项目要求投标人必须是注册成立时间不少于 3 年的独立法人，且注册资本和实缴资本均不低于 4000 万元。 投标人需具备大陆范围内 30MWh 以上大规模锂电储能系统投资、建设、运维项目经验，或者近 3 年内在安徽地区、芜湖市有合同能源管理 项目交付并网投运的实施案例。 特别值得注意的是，招标方明确要求投资方近 3 年内未发生储能备电类的安全事故，且本项目不接受联合体报 ...

格隆汇9月12日丨鹏辉能源(300438.SZ)在互动平台表示，公司生产的锂电池产品可以运用于数据中心相 关的储能应用场景。 ...

Core Viewpoint - The successful listing of Shuangdeng Co., Ltd. on the Hong Kong Stock Exchange marks it as the first stock in the AIDC (Artificial Intelligence Data Center) energy storage sector, with a subscription multiple of 3876.25 times and a first-day stock price increase of over 55% [1] Communication and Data Center Energy Storage - Shuangdeng Co., Ltd. ranks first globally in the shipment volume of energy storage batteries for both communication and data centers in 2024, with market shares of 9.2% in communication base station storage and 16.1% in data center storage [1][2] Business Development and Strategy - The company has evolved from merely providing energy storage cells to becoming a comprehensive system supplier, having developed innovative projects like the first large-scale "backup + recycling" energy storage project for data centers in China [3] - Shuangdeng Co., Ltd. has maintained a multi-technology approach, with rapid growth in lithium-ion battery business and successful orders for sodium-ion battery products [3] Client Relationships and Market Position - The company has established deep partnerships with major global communication operators and equipment manufacturers, including five of the top ten global firms and nearly 30% of the top 100 operators [4] Competitive Advantages - Shuangdeng Co., Ltd. benefits from a fully controllable supply chain, producing its own cells and battery management systems, which enhances cost efficiency and reliability [4] - The company has built long-term trust with clients through consistent product quality and financial health, ensuring stability and profitability [4] Growth Philosophy - The company emphasizes a balanced approach between strengthening and expanding its business, actively investing in resource allocation to maintain competitive advantages [5] - The recent IPO is aimed at leveraging capital markets to accelerate business expansion while maintaining a focus on sustainable growth [5][6] Future Investments - The funds raised from the IPO will be directed towards establishing a lithium battery manufacturing base in Southeast Asia and ongoing research into sodium-ion and solid-state batteries [6] - Shuangdeng Co., Ltd. has prioritized talent development, fostering a young leadership team to sustain innovation and growth [6]

Core Viewpoint - The article highlights the successful IPO of Shuangdeng Group Co., Ltd., a leader in data center energy storage solutions, emphasizing its unique business model and growth trajectory in the context of the global energy storage market [3][4]. Company Overview - Shuangdeng Group was listed on the Hong Kong Stock Exchange on August 26, with an IPO price of HKD 14.51 per share, reaching a market capitalization of up to HKD 93.79 billion (approximately RMB 85.9 billion) [3]. - The company specializes in energy storage solutions for communication base stations, data centers, and power systems, positioning itself as a critical player in ensuring stable power supply amidst fluctuations [3][4]. Business Growth and Market Position - In 2024, Shuangdeng Group is projected to achieve the highest global shipment volume in communication and data center energy storage batteries, serving five of the top ten global telecom operators and 80% of leading data center companies in China [3][4]. - The company has seen a significant shift in revenue, with data center energy storage business revenue surpassing traditional communication base station business for the first time in 2025 [4][12]. Leadership Transition - The transition of leadership from founder Yang Shanjin to his son Yang Rui marked a strategic shift, focusing on AI-driven data center energy storage as a new growth avenue [4][10]. - Yang Rui's academic background and strategic vision have been pivotal in navigating the company through technological changes and market challenges [6][10]. Financial Performance - From 2022 to 2024, Shuangdeng's revenue grew from RMB 40.72 billion to RMB 44.99 billion, with a notable increase in the data center segment, which saw a compound annual growth rate of 34.9% [12][16]. - The company's gross margin improved from 16.9% in 2022 to a peak of 20.3% in 2023, although it faced a decline due to rising raw material costs in 2024 [17]. Global Expansion Strategy - Shuangdeng has expanded its operations internationally, with overseas revenue increasing from RMB 6.8 billion in 2022 to RMB 8.9 billion in 2024, accounting for nearly 20% of total revenue [19][21]. - The establishment of an international headquarters in Singapore and a production facility in Malaysia reflects the company's strategic focus on the Southeast Asian market, which is becoming a hub for data center development [19][20]. Industry Trends - The global demand for data center energy storage is expected to grow significantly, with projections indicating a compound annual growth rate of 52.7% from 2024 to 2030 [12]. - The shift towards multi-center global digital infrastructure is reshaping the competitive landscape, with Shuangdeng positioned to capitalize on these trends through its innovative solutions and strategic partnerships [20][21].

Core Viewpoint - The article highlights the growth and market positioning of Shuangdeng Co., which is expanding its focus from communication base station energy storage to data center energy storage, capitalizing on increasing demand in the sector [2][3]. Group 1: Company Overview - Shuangdeng Co. was established in 2011 in Taizhou, Jiangsu Province, initially focusing on communication base station energy storage and forming long-term partnerships with major telecom operators [2]. - The company has successfully entered the supply chains of renowned global companies such as Ericsson, Vodafone, and Telenor [2]. - Shuangdeng Co. has expanded its business into the data center energy storage market, collaborating with major players like Alibaba, JD, Baidu, and others since 2018 [2]. Group 2: Market Position and Client Base - As of the end of 2024, Shuangdeng Co. serves five of the top ten global telecom operators and nearly 30% of the top 100 global telecom operators [3]. - The company has an 80% service rate among China's top ten self-owned data center enterprises and 90% among the top ten third-party data center enterprises [3]. - The average service duration for the company's five major clients exceeds ten years [3]. Group 3: Financial Performance - The company's revenue has shown steady growth, with figures of 4.072 billion yuan in 2022, 4.260 billion yuan in 2023, and projected 4.499 billion yuan in 2024 [3]. - Net profits for the same years were 281 million yuan, 385 million yuan, and 353 million yuan, with gross margins of 16.9%, 20.3%, and 16.7% respectively [3]. - In the first five months of 2025, the company reported revenue of approximately 1.867 billion yuan and a net profit of about 127 million yuan [3]. Group 4: Growth Drivers - The revenue for the first five months of 2025 increased from 1.349 billion yuan to 1.867 billion yuan compared to the same period in 2024, driven by the rising demand for data storage and processing, which significantly boosted sales of batteries for data centers [4]. - Revenue from the data center business surged from 397 million yuan to 872 million yuan during the same period, marking an increase of nearly 120% [4].

Core Viewpoint - Shuangdeng Group has completed the key regulatory procedures for its IPO in Hong Kong, marking it as the first stock in the "data center + communication energy storage" sector on the Hong Kong Stock Exchange [1][3]. Group 1: Company Overview - Shuangdeng ranks first globally among communication and data center energy storage battery suppliers, with a market share of 10.4% in 2023 [3]. - The company has established a strong presence, covering 80% of China's top ten proprietary data center companies and 90% of the top ten third-party data center companies by 2024 [3]. - The company has a rich history, evolving from a small factory to a leading player in the energy storage sector over 35 years [6][9]. Group 2: Financial Performance - Revenue is projected to grow from 40.72 billion RMB in 2022 to 45 billion RMB in 2024, achieving a CAGR of approximately 3.2% [7]. - The gross profit margin for Shuangdeng's lead-acid and lithium-ion batteries averaged 16.7% and 20.7% respectively over the past three years, consistent with industry peers [12]. - The company reported a net profit of 281.025 million RMB in 2022, with a profit margin of 6.9% [8]. Group 3: Market Position and Strategy - Shuangdeng has diversified its product offerings beyond lead-acid batteries to include lithium-ion batteries, which have become a significant revenue source, contributing nearly 50 billion RMB from 2022 to 2024 [25]. - The company has established partnerships with major tech firms and data center operators, including Alibaba and JD.com, to meet the growing demand for energy storage solutions [24]. - The management transition to Yang Rui has led to improved operational efficiency and a doubling of the gross profit margin from 7.5% in 2021 to 16.7% in 2024 [27]. Group 4: Challenges and Market Outlook - Despite its strong market position, Shuangdeng faces challenges such as high accounts receivable, which reached 18.89 billion RMB by the end of 2022, indicating potential issues with customer payment terms [29][30]. - The company operates in a competitive landscape, particularly in the lithium battery sector, which poses a threat from established players in the energy storage market [35]. - The outlook for Shuangdeng is mixed, with stable communication market dynamics but potential growth in the data center sector, which may attract new competitors [35].

Core Viewpoint - The energy storage industry is experiencing a surge in demand driven by policy changes, market competition, and the expansion of overseas markets, leading to a situation where production lines are operating at full capacity despite an overall industry overcapacity issue [5][6][36]. Group 1: Industry Demand and Policy Impact - The energy storage sector has expanded rapidly, with planned production capacity in China exceeding 1000 GWh for 2024, but actual shipments only reaching 300 GWh, resulting in a utilization rate of less than 35% [4]. - The release of document No. 136 has created urgency among renewable energy developers to complete projects before the June 2025 deadline, leading to a spike in energy storage demand [5][6]. - Twelve provinces in China have issued clear targets for energy storage projects, totaling over 30 GW/80 GWh [7]. Group 2: International Market Opportunities - Domestic energy storage companies are securing significant orders in international markets due to their advanced technology and cost-effective products [8]. - Notable orders include a record 19 GWh from CATL in the Middle East, showcasing the growing international demand for energy storage solutions [9]. Group 3: Corporate Strategies and Production Expansion - Major companies are proactively securing supply agreements for battery materials to ensure timely delivery and production [21]. - CATL has signed multiple agreements to expand production capacity, including a 40 GWh battery production project in Fuzhou and a 25 GWh project in Fuding [25][26]. - EVE Energy is also expanding its production capabilities with a new factory in Jingmen, planning a total capacity of 60 GWh [28]. Group 4: Emerging Market Segments - The demand for energy storage in data centers is becoming a new growth point, driven by the increasing need for clean energy solutions to support high-density computing facilities [11][19]. - The global market for data center energy storage lithium batteries is expected to grow significantly, with shipments projected to exceed 69 GWh by 2027 and reach 300 GWh by 2030 [18]. Group 5: Industry Challenges and Future Outlook - Despite the current demand surge, the industry faces potential overcapacity issues due to some companies expanding production without considering actual market needs [36][38]. - Experts emphasize the importance of focusing on technological innovation and product quality to avoid falling into the trap of excess capacity [39][40].