10月24日收盘，海博思创涨1.58%，报收300元/股，最新动态市盈率高达79.2倍。这一储能概念股从1月 27日19.38元/股的发行价涨至最新的300元/股，9个月的时间内涨幅达15倍，是全市场综合表现最亮眼的 标的之一。 业绩方面，2025年上半年，海博思创实现营业收入45.22亿元，同比增长22.66%，海外收入同比激增 3195.7%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 作者丨费心懿 编辑丨张伟贤 这一"系统工程师"的背景塑造了他对储能的本质认知：储能绝非简单的电池堆砌，而是一个必须与电网 深度交互、由控制算法驱动的高度复杂系统。 日前，海博思创还揽下内蒙储能大单。中国电建湖北工程有限公司包头威俊50万千瓦/300万千瓦时电网 侧独立储能示范项目储能设备采购项目成交结果公示，海博思创全资子公司内蒙古海博思创科技有限公 司中标该项目。据悉，该储能电站项目总投资83.5亿元，为当前在建的全国最大电化学储能电站，预计 11月中下旬并网投产。 在全球能源体系经历百年未有之大变局的宏大叙事中，电化学储能已被时代推向前台，成为解决"安 全、低碳、经济"这一能源三角问题的 ...

Core Viewpoint - Haibo Sichuang's stock price surge is attributed to the improvement in industry fundamentals and the company's core competitiveness, marking a significant turning point in the energy storage sector [2][4]. Industry Overview - The global energy storage industry is experiencing rapid growth, with China taking a leading role. However, the domestic market faces intense competition and emerging systemic risks [2]. - A third-party report indicates that nearly one-fifth of global energy storage projects are operating in a "non-healthy" state, highlighting the industry's shift from a focus on installed capacity to operational efficiency and lifecycle value [2][3]. Company Strategy - Haibo Sichuang differentiates itself by focusing on "software-defined energy," creating structural barriers that set it apart from traditional hardware manufacturers [3][4]. - The company emphasizes the importance of system scheduling, grid compatibility, and control precision, viewing Battery Management Systems (BMS) and Energy Management Systems (EMS) as integral to maximizing efficiency and reliability [3]. Business Model - The company operates as an "integrator and technology partner," providing high-reliability and high-yield energy storage solutions without directly competing with battery giants on production capacity [4][5]. - Haibo Sichuang's strategic transformation aims to extend its business into comprehensive energy services, leveraging AI and operational capabilities across the entire energy storage value chain [5][6]. Financial Performance - Despite significant revenue growth, the company reported a negative cash flow of -1.654 billion yuan due to increased payments to suppliers, indicating cash flow pressures that need to be addressed [8]. - The company has delivered approximately 9.5 GWh of projects in the first half of the year, showcasing its strong performance in high-value application scenarios [6]. Global Expansion - Haibo Sichuang plans to achieve parity between its overseas and domestic business within 3-5 years, with high-margin international operations expected to drive net profit growth [7].