Core Viewpoint - The article highlights the launch of BYD's new energy storage product "Haohan" at the 2025 International Digital Energy Exhibition in Shenzhen, emphasizing its advanced features and capabilities in the energy storage market [1]. Group 1: Product Features - "Haohan" features the world's largest single capacity with a 2710 Ah dedicated blade battery, achieving over 300% capacity improvement compared to conventional storage batteries [3]. - The minimum unit capacity of "Haohan" is 14.5 MWh, currently ranking first globally, and it can achieve a capacity of 10 MWh within a 20-foot container [3]. - The volume utilization rate of "Haohan" is 52.1%, which is an improvement of 39.7% over industry standards [3]. Group 2: Design and Efficiency - The high integration design reduces the number of boxes and land area required, enhancing system deployment and operational efficiency through a "small volume, large energy" approach [5]. - The product is designed to operate in extreme environments, with an IP66 protection level ensuring complete dust and water resistance, maintaining stable operation in harsh conditions [6]. Group 3: System Performance - "Haohan" can be integrated with BYD's self-developed PCS unit GC Flux and EMS system GC Master to form a grid-type energy storage system, aimed at enhancing overall system efficiency and grid resilience [6]. - The lifespan of dust-sensitive components is improved by approximately 100%, while system failure rates are reduced by about 70%, leading to a 70% decrease in operational and maintenance costs [7]. Group 4: Development Philosophy - BYD's development philosophy for "Haohan" is centered around the concept of "simplicity," emphasizing a balance between safety, energy efficiency, and lifecycle, catering to the future needs of TWh-level energy storage stations [9].

Group 1: Resumption of Trading - ST Haofeng will have its stock resume trading as ZhiXin Network becomes the controlling shareholder [1] Group 2: Mergers, Acquisitions, and Capital Increases - Dongyangguang plans to jointly increase capital in a subsidiary for the acquisition of 100% equity in Qinhuai Data, a large-scale data center solution operator in the Asia-Pacific emerging market [2] - Mengguli intends to raise no more than 980 million yuan through a private placement to fund a project for producing 30,000 tons of lithium-ion battery cathode materials and to supplement working capital [3] Group 3: Share Transfers, Buybacks, and Increases - Kangzhi Pharmaceutical has agreed to transfer 5.0004% of the company to Hongshi Investment [4] - Furan De has raised its buyback price from 14.68 yuan per share to 25.21 yuan per share [5] - BYD's senior management and core personnel have increased their holdings by 488,200 shares, amounting to 52.3278 million yuan [6] Group 4: External Investments and Daily Operations - Goldwind Technology has signed an investment development agreement for a wind power hydrogen ammonia integration project in Bayannaoer City, with a total investment of 18.92 billion yuan [7] - Derma Technology has won a smart logistics project from a well-known e-commerce giant in Latin America, valued at 40.8699 million dollars [8] - Fuliwang's subsidiary, Qiangxin Technology, plans to invest 500 million yuan in a high-end wire material project [9] - Haoen Automotive Electric has received project designation from a leading new energy vehicle brand [10] - Zhixiang Jintai has received approval for clinical trials of GR1803 injection for systemic lupus erythematosus [11] - Baili Tianheng's injection product, iza-bren (EGFR×HER3 dual antibody ADC), has been included in the breakthrough therapy list for patients with platinum-resistant recurrent epithelial ovarian cancer, fallopian tube cancer, or primary peritoneal cancer [12] - Yinlong Co., Ltd. has signed a steel purchase contract with China Railway Shanghai Engineering Group for the SXZQ-3 label in the Shijiazhuang to Xiong'an New Area railway project, with a contract value of 165 million yuan [13] - Trina Solar has signed sales contracts for a total of 2.48 GWh of energy storage products with three customers in China, Latin America, and the Asia-Pacific region, including a 1 GWh overseas order that marks a significant milestone for the company [14] - Zhujiang Co. plans to sell several stock assets at an opportune time, expecting returns to exceed last year's net profit by more than 50% [15]

Core Insights - The first grid-type energy storage project built within a substation in Hubei Province has successfully commenced operation, capable of outputting up to 20,000 kWh to the main grid during peak electricity usage, effectively alleviating load pressure on electrical equipment and ensuring reliable power supply during high-temperature periods [1][7]. Group 1: Project Overview - The energy storage project at the 110 kV Bao'an Substation has a total capacity of 10,000 kVA and can output a maximum of 20,000 kWh to the main grid, supporting 10% of the load of the substation's main transformer during peak times [7]. - The project consists of four energy storage battery units, inverters, and a storage control room, all housed within approximately 500 square meters of the substation [4][7]. Group 2: Operational Mechanism - Unlike traditional energy storage systems that passively receive instructions, the grid-type energy storage system acts as a "virtual generator," using power electronics and control algorithms to simulate synchronous generator characteristics, thus actively participating in grid regulation [4]. - The energy storage system charges during low load periods and discharges during peak times, seamlessly integrating with the main grid to reduce load pressure on the substation's main transformer [8]. Group 3: Implementation Challenges and Achievements - The project faced various challenges, including tight construction timelines, adverse weather conditions, and difficulties in equipment transportation, but the company employed strategies such as pre-set foundations and cross-operation to ensure timely operation [8]. - As of July 22, the energy storage project has completed four safe charge and discharge cycles, delivering a total of 80,000 kWh, significantly enhancing reliable power supply during peak load periods [8].

Core Viewpoint - The article emphasizes the importance of energy storage in the context of the new energy market, highlighting the innovative solutions provided by Zhiguang Energy Storage to meet the urgent demand for energy storage as renewable energy sources become more prevalent [1][3]. Group 1: Market Opportunities - The implementation of the National Development and Reform Commission's notice on market-oriented pricing for renewable energy in 2025 will enhance the value of energy storage as a key resource for balancing the volatility of renewable energy and improving grid flexibility [6]. - The policy shift requires renewable energy to bear system adjustment costs, promoting a multi-energy complementarity model, making new energy storage essential for power supply-demand balance and grid security [6]. Group 2: Technological Innovations - The Grid-forming Energy Storage System showcased by Zhiguang Energy Storage has three core advantages: - It actively supports grid stability by simulating the "inertia response" of traditional synchronous generators, providing rapid power support during sudden drops in renewable output or grid faults [8]. - The AI-driven intelligent trading system optimizes charging and discharging strategies based on real-time market price fluctuations and load demands, maximizing station revenue [8]. - It offers multi-scenario compatibility, catering to high-energy consumption scenarios such as industrial parks and zero-carbon microgrids, supporting integrated solar-storage charging and virtual power plant aggregation [8]. Group 3: Strategic Layout - Prior to the exhibition, Zhiguang Energy Storage established a two-year strategic cooperation with Haichen Energy Storage for the procurement of 15 GWh battery cells, ensuring supply chain stability for future product delivery [10]. - The company is adopting a "storage + AI + scenario-based" strategy to optimize lifecycle costs through digital technology [10]. - The value of energy storage is shifting from "policy-mandated storage" to "market-oriented revenue generation," with Zhiguang's grid-forming system achieving value closure through auxiliary service revenue, peak-valley arbitrage optimization, and system synergy enhancement [11][12][13]. Group 4: Future Outlook - As the national electricity spot market unification accelerates, energy storage companies must leverage technological innovation to address price volatility risks [14]. - Zhiguang Energy Storage's "intelligent grid formation + scenario integration" model serves as a benchmark for breaking through "involutionary competition" in the industry, facilitating the transition from a single equipment supplier to an energy system service provider [14]. - The successful implementation of the grid-forming cascade high-voltage energy storage demonstration project underscores the irreplaceable role of energy storage in the new power system dominated by renewable energy, acting as both a "stabilizer" for the grid and an "accelerator" for the energy revolution [16].