Core Viewpoint - The article discusses the recent announcements and financial performance of Guoxuan High-Tech, highlighting its expansion plans in the battery manufacturing sector and the introduction of new products in various markets [4][5][6]. Summary by Sections Expansion Plans - Guoxuan High-Tech announced two major projects totaling 40GWh to enhance its production capacity and market reach. The first project involves a new lithium-ion battery manufacturing base in Nanjing with an investment of up to 4 billion RMB, expected to be completed within 24 months [4]. - The second project is a 20GWh new energy battery base in Wuhu, also with an investment of up to 4 billion RMB, to be developed by its subsidiary [4]. Financial Performance - In the first half of 2025, Guoxuan High-Tech reported a revenue of 19.394 billion RMB, a year-on-year increase of 15.48%. The net profit attributable to shareholders was 367 million RMB, up 35.22% [5]. - The adjusted net profit, excluding non-recurring items, reached 72.87 million RMB, reflecting a significant increase of 48.53% year-on-year [5]. Product Development - The company launched a new LMFP-based L600 battery cell and battery pack aimed at the commercial vehicle market, covering various applications such as trucks and mixers [6]. - In the energy storage sector, Guoxuan introduced the "Qianyuan Smart Storage" battery system, enhancing safety and reliability in extreme conditions [6]. - The company also made strides in solid-state battery technology, launching the Gyuanzhun solid-state battery and achieving a 90% yield rate in its pilot production line [6]. Revenue Breakdown - The revenue from the power battery system was approximately 14.03 billion RMB, with a gross margin of 14.24%, showing a year-on-year increase of 2.16% [7]. - The energy storage battery system generated around 4.56 billion RMB, with a gross margin of 19.35%, but a decline of 3.21% compared to the previous year [7]. - Revenue from the distribution products was about 246.65 million RMB, with a gross margin of 18.07%, reflecting a decrease of 3.98% year-on-year [7]. - Other business segments reported revenues of approximately 550.46 million RMB, with a gross margin of 46.81%, marking a significant increase of 19.72% [7].

Core Insights - The research team has developed a high-stability ultra-thin polymer membrane with a thickness of only 3 micrometers, which enhances the working current density of all-vanadium flow batteries to 300 milliamps per square centimeter [1][2]. Group 1: Research and Development - The polymer ion-selective membrane is favored in the market due to its low cost and ease of large-scale production [1]. - Traditional polymer membranes often have irregular pore structures, making it difficult to accurately separate active materials and charge carriers in flow batteries [1]. - A new interfacial crosslinking strategy was proposed to create a robust covalent crosslink network in the membrane, improving mechanical stability even at reduced thickness [1][2]. Group 2: Performance and Applications - The pore size distribution of the membrane's separation layer ranges from 1.8 Å to 5.4 Å, allowing for precise separation of active materials and rapid conduction of charge carriers [2]. - The ultra-thin membrane exhibits ultra-low surface resistance and active material permeability across a wide pH range, reducing ion transport resistance [2]. - The membrane was tested in an all-vanadium flow cell, achieving an energy efficiency exceeding 80% at a high current density of 300 milliamps per square centimeter [2]. - The ultra-thin membrane can also be applied to alkaline zinc-iron flow batteries and aqueous organic flow batteries, demonstrating excellent performance at high current densities [2].

Core Viewpoint - The article highlights the upcoming "2025 TrendBank (Yinchuan) Long-duration Energy Storage Industry Conference," focusing on advancements in energy storage technologies such as flow batteries, compressed air storage, and hydrogen storage, aiming to foster collaboration within the industry [2][3][19]. Summary by Sections Conference Details - The conference will take place on July 2-3, 2025, at the Yinchuan Lida Deep Hang International Hotel, with over 300 participants expected [19]. - It is organized by TrendBank in collaboration with Shanghai Electric Energy Storage Technology Co., Ltd., and supported by various local government and industry associations [20]. Key Topics and Speakers - The event will feature discussions on cutting-edge technologies in energy storage, including a special session on compressed air and hydrogen storage, with notable speakers such as Liu Bing from Guohong Hydrogen Energy [5][8]. - A significant highlight will be the release of the "2025 TrendBank Long-duration Energy Storage Industry Development Blue Book" during the conference [3][20]. Industry Context - The Su-Yin Industrial Park, where the conference is held, aims to develop a robust energy storage battery manufacturing industry chain, focusing on lithium-ion, sodium-ion, and flow battery production [22]. - The park is part of a broader initiative to enhance regional cooperation and development between Ningxia and Suzhou, promoting new energy and advanced manufacturing sectors [22]. Registration and Participation - Registration for the conference is free, with options for meals available at a cost, emphasizing the goal of sharing knowledge and resources across the industry [29][31]. - Participants must register using their personal mobile numbers to ensure proper attendance tracking and access to conference materials [31].

Core Viewpoint - Daon Co., Ltd. plans to acquire 100% equity of Anhui Bost New Materials Co., Ltd. for 33 million yuan to optimize its product layout and extend its presence in the cable new materials sector [1][2][3] Group 1: Acquisition Details - The acquisition was approved during the fifth board meeting on April 23, and Anhui Bost will become a wholly-owned subsidiary of Daon [1] - The transaction price for the acquisition is set at 33 million yuan [1] - Anhui Bost reported revenues of 172 million yuan in 2023 and 157 million yuan from January to November 2024, with corresponding net profits of approximately 3.30 million yuan and 3.37 million yuan [1] Group 2: Strategic Intent - The acquisition aims to enhance Daon's product layout and extend its industrial chain, thereby improving overall competitiveness and promoting long-term development [2] - Daon is particularly focused on the cable new materials market, which is expected to see significant demand growth, especially in electric vehicles and subsea cables [3] Group 3: Valuation and Financials - The valuation of Anhui Bost was assessed using two methods, with a difference of 15 million yuan; the asset-based approach was ultimately chosen, valuing Anhui Bost at approximately 33 million yuan [3] - The asset-based valuation indicated a net asset book value of 28.42 million yuan, with an appraisal value of 33 million yuan, reflecting a 16.13% increase [3] - Anhui Bost has reported negative cash flow from operating activities of -94.27 million yuan in 2023 and -85.93 million yuan from January to November 2024 [4]