Core Viewpoint - The company, Shuangdeng Co., Ltd. (06960), has reported significant growth in its mid-year performance, particularly in its AIDC data center energy storage business, indicating a strategic shift in its business model from traditional communication storage to new AIDC storage solutions [1] Financial Performance - The company achieved a revenue of 2.246 billion yuan in the first half of the year, representing a year-on-year increase of 26.21% [1] - The profit attributable to the company's owners was 161 million yuan during the same period [1] Business Growth - The AIDC data center energy storage business experienced explosive growth, with revenue increasing by 113.1% compared to the same period last year, surpassing the revenue from traditional communication storage for the first time [1] - This growth marks a critical transformation in the company's business structure towards leading in new AIDC storage solutions [1] Market Position - Shuangdeng Group is a leading company in the energy storage business within the big data and communication sectors, focusing on the design, research, development, manufacturing, and sales of energy storage batteries and systems [1] - According to data cited from Frost & Sullivan, the company is projected to rank first in global shipments of communication and data center energy storage batteries in 2024, with a market share of 11% [1] Client Base - The company serves five of the world's top ten communication operators and equipment manufacturers, with nearly 30% of the global top 100 communication operators and equipment manufacturers as clients [1] - It also services 80% of China's top ten proprietary data center enterprises and 90% of the top ten third-party data center enterprises in China [1]

Core Insights - The company reported a revenue of RMB 2.2463 billion for the first half of 2025, representing a year-on-year growth of 26.2% [1] - Gross profit reached RMB 335.7 million, with a slight increase of 0.4% year-on-year, indicating a gradual improvement in profitability [1] - Net profit attributable to the parent company was RMB 160.6 million, with basic earnings per share of RMB 0.45 [1] Revenue Growth Drivers - The AIDC data center energy storage business emerged as a key driver for revenue growth, significantly expanding both revenue scale and optimizing the income structure [1] - Sales revenue from AIDC data center batteries and systems reached RMB 1.028 billion, showing a substantial year-on-year increase of 113.1% [1] - The AIDC data center battery and system business accounted for 47.2% of total revenue, surpassing traditional communication energy storage for the first time, marking a significant shift in the company's business structure [1] Strategic Developments - The company successfully penetrated overseas markets, achieving coverage in Europe and Southeast Asia, which is a critical step in its global expansion strategy [1] - The increase in revenue from high-value AIDC data center storage products is expected to enhance overall gross margin and support sustained profitability growth [2] - R&D expenses rose by 28.7% year-on-year, focusing on core areas such as AIDC data center storage, new battery technologies, and smart energy management, aiming for multi-dimensional value breakthroughs [2]

Group 1 - The company reported a revenue of 2.246 billion yuan for the six months ending June 30, 2025, representing a year-on-year increase of 26.21% [1] - The profit attributable to the parent company was 161 million yuan, with basic earnings per share of 0.45 yuan, and a gross profit of 336 million yuan, which increased by 0.43% year-on-year [1] - The lead-acid battery business experienced a revenue growth of 40% year-on-year, driven by the rapid growth of the AIDC data center market [1] Group 2 - The company possesses significant advantages in technology, customer base, and market share in the AIDC data center energy storage sector, allowing it to benefit from industry growth trends [1] - The continuous introduction of new products will enrich the company's product line, better meet diverse customer needs, and enhance market competitiveness and product added value [2] - The research and development achievements in lithium and sodium battery technologies will gradually translate into actual productivity and economic benefits, providing technical support for business development [2]