文 | 中关村储能产业技术联盟 12月3日，华能公主岭235MW/470MWh集中式储能项目一期（115MW/230MWh）工程暨华能富民储能电站成 功并网投运，正式投入商业化运营。据悉， 这也是华能首套高压直挂浸没式 储能项目 。 项目位于吉林省公主岭市，总规划规模235MW/470MWh，占地约5.26公顷，总投资4.93亿元，由华能吉林发电 有限公司全资子公司投资建设，并由华能吉林发电有限公司新能源分公司负责运营管理。 项目采用华能清能院自主研发的高压直挂浸没式储能系统，结合非步入式液冷磷酸铁锂技术， 同步配套微网储能 系统与泡沫消防系统， 运行稳定、能效显著。一期共布置5套23MW/46MWh储能单元，通过一台135MVA主变 压器升压至220kV接入电网，系统设计预留二期、三期扩建空间，具备良好的规模弹性与发展潜力。 作为贯彻国家"双碳"目标、服务吉林新型电力系统建设的重点工程，华能吉林新能源公司聚焦电网调峰能力提升 与系统安全稳定，积极探索独立储能参与电力市场交易的新路径。 项目全面投运后，将有效提升长春西部地区对风电、光伏等新能源的消纳能力，依托其黑启动功能，进一步增强 极端天气下、突发情况的电 ...

Core Viewpoint - The 2025 China Energy Storage CEO Summit highlighted the importance of technological innovation, global collaboration, and safety in the energy storage industry, emphasizing the need for companies to adapt to international markets and enhance their operational capabilities [2][27]. Group 1: Industry Insights - The summit gathered influential leaders from major energy storage companies to discuss breakthroughs in technology, global strategies, and the construction of industrial ecosystems [2]. - Chen Chenghui, Chairman of Kehua Data, emphasized that capturing opportunities requires technological innovation and collaborative standards to overcome development bottlenecks [4]. - Tian Qingjun, Senior Vice President of Envision, stated that for Chinese energy storage companies, going global is no longer optional but essential for survival, advocating for deep localization and talent acquisition [6]. Group 2: Technological Focus - Huang Feng, President of Chuangneng New Energy, highlighted that technology is key to solving performance and cost challenges, and continuous innovation is necessary for value co-creation [8]. - Cui Jian, President of Kehua Energy, noted that network construction technology is a necessity for energy storage, with future systems integrating various functionalities [10]. - Lian Zhanwei, Chairman of New Source Smart Storage, stressed that safety is the lifeline of the energy storage industry, advocating for innovations like immersion liquid cooling to meet high safety demands [14]. Group 3: Globalization and Collaboration - Yang Rui, Chairman of DoubleDeng Co., emphasized the need for energy storage companies to be globally oriented and deeply integrated into international markets, focusing on organizational capabilities to seize market opportunities [12]. - Yang Bao, President of Trina Storage, mentioned leveraging global experience in photovoltaics to facilitate energy storage's international expansion [16]. - Yang Guang, Technical President of Haibo Sichuang, pointed out that strong partnerships and complementary advantages are crucial for stable industry delivery [18]. Group 4: Future Events - The summit served as a precursor to the 14th International Energy Storage Summit and Exhibition (ESIE 2026), scheduled for April 1-3, 2026, in Beijing, where leading companies will showcase their latest technologies and solutions [22][23].

Group 1 - The company, Nandu Power (300068), is focusing on the expansion of new energy storage, communication and data center storage, and residential storage businesses [1] - The company plans to increase research and development investment to enhance its core competitiveness [1] - The goal is to create long-term value for investors [1]

中国储能产业已跨越初期的示范验证阶段，正驶入以"实际效益"和"全生命周期价值"为导向的规模化发 展快车道。市场的评判标准发生了根本性转变：实验室参数不再是唯一标尺，在极端环境下的长期可靠 运行、面对GWh级订单的稳定交付能力、以及项目全生命周期的经济性，成为衡量企业核心竞争力的 新准绳。特别是在我国西北、华北等新能源富集区，大规模储能电站已从"可选项"变为支撑电网稳定、 提升消纳能力的"必选项"。这些动辄GWh级别的真实项目，成为检验储能企业综合实力的终极试炼 场。 产能与效率：支撑规模化的硬核底座 签订120GWh的战略协议需要魄力，而履行它则需要坚实的产业底座。海辰储能的产能扩张速度堪 称"狂奔"，其储能电池有效年产能从2022年的5.4GWh飙升至2024年的49.7GWh，年复合增长率高达 203%。截至2025年6月，设计年产能已达64.4GWh。更关键的是，其产能并非盲目建设，上半年高达 96% 的产能利用率，证明了其产能规划与市场需求的高度匹配，以及卓越的产销协同能力。 在这场试炼中，海辰储能与中车株洲所于2025年12月5日达成的战略合作，堪称一个标志性事件。双方 签署为期五年(2026-20 ...

储能行业价格战打得正酣，锂电储能系统中标均价已降至0.49元/Wh，较高峰期下降超过七成，这已经 不是"腰斩"，简直是砍到脚踝了。 这几天工信部开始对海外储能市场"内卷"情况开始出拳整治，这场反内卷风暴来得正是时候。 在这样的节骨眼上，海辰储能第三次向港交所递交招股申请书，全球储能电芯产能达750GWh，产能利 用率却不足50%，这场IPO俨然成了一场生死博弈。 低价抢市场、赊销冲规模、海外订单撑利润——这家狂奔5年冲到全球行业前三的储能独角兽，正踩在 政策和市场的十字路口上。 行业风向突变：从"卷价格"到"卷质量" 储能行业过去几年的内卷程度，堪称"骨折式竞争"。 2025年上半年，锂电储能系统中标均价砸到0.49元/Wh，比高峰期跌去七成以上。 更夸张的是，全球储能电池产能规划超过8000GWh，但实际需求仅2010GWh，产能闲置率超50%。 这种"增产不增收"的乱象终于惊动监管层。7月，中央定调"治理低价无序竞争"，随后行业协会联合149 家企业发布反内卷倡议。核心就一条：禁止低于成本价销售，逼企业从"价格战"转向"技术战"。 11月28日，工信部更是部长亲自出席，高规格座谈会每一个都直指行业"内卷" ...

中信建投证券研报指出，阳光电源2025Q3单季度实现营业收入228.69亿元，同比增加20. 83%，环比下 降6.65%；归母净利润41.47 亿元，同比增加57.04%，环比增加6.10%；扣非后归母净利润39.91 亿元， 同比增加59. 76%，环比增加4.50%。公司业绩屡创新高，主要系全球储能需求释放以及高毛利海外业务 占比提升。展望未来，全球储能需求有望持续共振，并推动公司储能出货快速增长；AIDC配储订单及 电源产品后续逐步落地，有望为公司进一步带来利润增量。维持"买入"评级。 ...

Core Insights - The Chinese energy storage market is expanding at an annual growth rate of 30%, expected to exceed 1 trillion yuan by 2025, driven by "dual carbon" goals [2] - Traditional multi-tier channel models are causing inefficiencies, high inventory costs, and slow service responses, prompting the need for digital transformation [2] Industry Pain Points: The "Triple Dilemma" of Traditional Channels - Information silos hinder collaborative efficiency, with order information taking an average of 72 hours to pass through 4-6 levels, extending project delivery times by 30% [3] - Inventory costs are exacerbated by the bullwhip effect, with a medium-sized integrator's inventory turnover rate at only 2.8 times per year, significantly below the industry benchmark of 6 times [4] - Service quality varies widely due to differences in installation service providers, with 35% of energy storage projects exhibiting issues linked to inadequate training or tools [5] Solutions by Shushangyun: Four-Dimensional Reconstruction of Channel Value Chain - Intelligent supply chain collaboration breaks down information barriers, enabling real-time data synchronization across suppliers, logistics, and service providers [6] - AI decision support tools provide integrators with data-driven insights for precise operations [7] - Mobile tools empower frontline service providers, enhancing operational efficiency [7] Practical Outcomes: From Pilot to Scalable Value Verification - A leading energy storage integrator restructured its channel system through Shushangyun, achieving significant operational improvements [7] - A regional energy storage service provider experienced efficiency gains after integrating with the platform [7] Future Outlook: Technology-Driven Evolution of Channel Ecosystem - As technologies like AI and digital twins mature, Shushangyun is advancing three major upgrades to enhance channel efficiency and value creation [8] - The shift from scale development to high-quality growth in the energy storage sector emphasizes the importance of channel flattening as a tool for efficiency and a driver for value creation [8]

核心观点 公司2025Q3 单季度实现营业收入228.69 亿元，同比增加20. 83%，环比下降6.65%；归母净利润41.47 亿 元，同比增加57.04%，环比增加6.10%；扣非后归母净利润39.91 亿元，同比增加59. 76%，环比增加 4.50%。公司业绩屡创新高，主要系全球储能需求释放以及高毛利海外业务占比提升。展望未来，全球 储能需求有望持续共振，并推动公司储能出货快速增长；AIDC 配储订单及电源产品后续逐步落地，有 望为公司进一步带来利润增量。 事件 公司发布2025 年三季报 公司2025 年Q1-Q3 实现营业收入664.02 亿元，同比+32.95%；归母净利润118.81 亿元，同比+56.34%； 扣非后归母净利润114.86亿元，同比+55.63%。 Q3 单季度实现营业收入228.69 亿元，同比+20.83%，环比-6.65%；归母净利润41.47 亿元，同比 +57.04%，环比+6.10%；扣非后归母净利润39.91 亿元，同比+59.76%，环比+4.50%。 点评 增长规模再创新高，规模效应凸显 前三季度实现营业收入664.02 亿元，同比增长32.95%； 归母 ...

Core Viewpoint - Nenghui Technology has signed a framework contract for 350MWh of energy storage products with a European partner, marking a significant step in its overseas market strategy [1] Group 1: Contract Details - The framework contract includes a target of 350MWh for the sale of battery energy storage systems (BESS) and related services, effective until December 31, 2026 [1] - The agreement stipulates that a minimum of 20% prepayment is required for each project, with further payment terms to be defined in individual contracts [1] - The company has already received the first batch of contract prepayments [1] Group 2: Strategic Importance - This contract is a result of the company's long-term exploration and research in overseas markets, which is crucial for expanding its energy storage business internationally [1] - The partnership is expected to enhance the company's competitiveness in the overseas energy storage market and accelerate order conversion [1] - The agreement aligns with the company's strategic development direction and long-term interests of its shareholders [1]

公司深耕新能源领域，坚持"绿色事业、定能辉煌"的发展信念，在光伏行业"内卷化"竞争的挑战下，公 司实施"反内卷"策略，管理层通过组织变革和精细化管理提升管理效率，并积极拓展新兴业务储能业务 板块。近年来，公司不断升级储能技术和产品，研发了一体化液冷储能系统机柜NE233L、NE261L和 N20HC5000等系列储能产品，并重点布局海外大型储能与工商业储能和光储微网，通过发展当地代理 商、搭建自主销售渠道等方式逐步完善国际化网络。 格隆汇12月8日丨能辉科技(301046.SZ)公布，公司基于海外储能业务的战略布局，公司于近日与海外合 作方欧洲某公司（简称"X公司"）签署了350MWh储能框架合同及第一批销售合同，双方约定350MWh 合作目标，公司在2026年度向X公司销售包含电池储能系统（BESS）的相关产品。 ...