Event Details: DALIAN, China, May 06, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy", or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced its participation in the upcoming Shenzhen International Battery Technology Conference & Expo ("CIBF 2025", or the "Event"), scheduled from Tuesday, May 15, 2025 to Saturday, May 17, 2025. CBAK Energy's sales team and R&D department, along with key members of our ...

Core Viewpoint - Yijin New Energy has successfully completed a multi-billion C round financing, led by Guotou Investment and joined by Guozhong Capital, to enhance its production capacity and R&D in silicon-carbon anode materials for next-generation batteries [1][2]. Group 1 - Yijin New Energy plans to use the funds primarily to expand its silicon-carbon anode production capacity and solidify its competitive edge in the next-generation battery anode materials sector [1]. - The company aims to accelerate the R&D of silicon-carbon anodes and their application in various industries, including new energy vehicles, consumer electronics, and robotics, to meet the surging demand for high-energy battery materials [1][2]. - Established in 2017 and headquartered in Zhongguancun Science Park, Yijin New Energy is a national high-tech enterprise focusing on lithium battery materials and next-generation battery technologies [1]. Group 2 - Yijin New Energy has received investments from notable institutions such as CATL, SAIC Group, and others, and has integrated with major manufacturers like CATL, BYD, and ATL [2]. - The company currently operates two production bases in Yichun, Jiangxi, and Taiyuan, Shanxi, and plans to add an annual production capacity of 10,000 tons of silicon-carbon materials due to this financing [2].

Investment Rating - The investment rating for Zhuhai Guanyu (688772) is "Buy" [1] Core Views - The report indicates that the company's Q1 2025 performance was affected by seasonal factors and export tax rebate impacts, but a gradual recovery is expected starting from Q2 2025 [1][8] - The company is projected to achieve significant revenue growth in the coming years, with total revenue expected to reach 14.47 billion yuan in 2025, representing a year-on-year increase of 25.41% [1][9] - The net profit attributable to the parent company is forecasted to be 862.31 million yuan in 2025, showing a substantial growth of 100.37% year-on-year [1][9] Financial Forecasts - Total revenue forecasts for the years 2023 to 2027 are as follows: 11.45 billion yuan in 2023, 11.54 billion yuan in 2024, 14.47 billion yuan in 2025, 17.73 billion yuan in 2026, and 21.09 billion yuan in 2027 [1][9] - The net profit attributable to the parent company is projected to grow from 344.19 million yuan in 2023 to 1.61 billion yuan in 2027, with a notable increase in 2025 [1][9] - The earnings per share (EPS) is expected to rise from 0.31 yuan in 2023 to 1.43 yuan in 2027, reflecting the company's improving profitability [1][9] Market Data - The closing price of the stock is reported at 12.66 yuan, with a market capitalization of approximately 14.28 billion yuan [5] - The stock has a price-to-earnings (P/E) ratio of 41.47 for 2023, which is expected to decrease to 8.84 by 2027, indicating an improving valuation as earnings grow [1][9] Operational Insights - The report highlights that the consumer segment's revenue in Q1 2025 was 2.1 billion yuan, down by over 10% year-on-year, primarily due to the impact of export tax rebates [8] - The company is expected to enhance its profitability in the consumer business, projecting a revenue of 12 billion yuan in 2025, with a profit contribution of 1.1 to 1.2 billion yuan [8] - The report notes that the company has secured contracts with major automotive manufacturers, which is expected to drive significant growth in the power segment [8]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The Q1 2025 performance met market expectations, with revenue of 12.3 billion and a year-on-year increase of 12% [8] - The company's battery cell self-supply rate has increased to 40%, with a target of 50%+ for 2025 [8] - The report anticipates a significant profit contribution from the consumer battery segment, projecting a profit of over 2.5 billion for 2025, representing a growth of 10-20% [8] - The report highlights the ongoing expansion of energy storage customers and expects a narrowing of losses in the power storage segment [8] - R&D expenses have increased, but operating cash flow showed strong performance, with a net cash flow of 1.53 billion in Q1 2025, up 116% year-on-year [8] - The report maintains profit forecasts for 2025-2027, projecting net profits of 2.05 billion, 2.49 billion, and 3.01 billion respectively, with corresponding P/E ratios of 17x, 14x, and 12x [8] Financial Summary - Total revenue for 2023 is projected at 47.86 billion, with a year-on-year decrease of 8.24%, followed by a recovery in 2024 with a 17.05% increase [1] - The net profit attributable to shareholders for 2023 is estimated at 1.08 billion, with a slight increase of 0.77% year-on-year [1] - The latest diluted EPS for 2023 is projected at 0.58 yuan, with a P/E ratio of 32.40 [1] - The company's total assets are expected to grow from 87.32 billion in 2024 to 107.63 billion by 2027 [9]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The Q1 performance of the company met market expectations, with revenue of 12.3 billion yuan, a year-on-year increase of 12% and a quarter-on-quarter decrease of 31%. The net profit attributable to the parent company was 390 million yuan, reflecting a year-on-year increase of 21% and a quarter-on-quarter increase of 51% [8] - The self-supply rate of battery cells has increased to 40%, with a revenue target of 7-8 billion yuan for 2025 and production capacity expected to reach 1.2 million units per day [8] - The company is expanding its customer base in the energy storage sector, with expected losses narrowing in the future [8] - R&D expenses have increased, and cash flow performance is strong, with a net operating cash flow of 1.53 billion yuan, a year-on-year increase of 116% [8] - The company maintains a leading position in the consumer battery market, with a target price of 27.8 yuan based on a 25x PE ratio for 2025 [8] Financial Summary - Total revenue forecast for 2023 is 47.862 billion yuan, with a year-on-year decrease of 8.24%. The forecast for 2024 is 56.021 billion yuan, with a year-on-year increase of 17.05% [1] - The net profit attributable to the parent company is projected to be 1.076 billion yuan for 2023, with a year-on-year increase of 0.77%. For 2024, it is expected to be 1.468 billion yuan, reflecting a year-on-year increase of 36.43% [1] - The latest diluted EPS is expected to be 0.58 yuan for 2023, increasing to 0.80 yuan for 2024 [1] - The company’s P/E ratio is projected to decrease from 32.40 in 2023 to 23.75 in 2024, and further down to 17.00 in 2025 [1]

Core Viewpoint - NOVONIX Limited has executed a definitive agreement to purchase a 182-acre parcel in Chattanooga, Tennessee, marking a significant step in its expansion strategy in the battery materials sector [1][3]. Acquisition Details - The land will be acquired for approximately US$5 million and will serve as the site for NOVONIX's second facility for high-performance synthetic graphite, expected to reach an initial production capacity of 31,500 tonnes per annum (tpa) [2]. - With the new facility and the existing Riverside facility scaling up to 20,000 tpa, NOVONIX will have a total production capacity of over 50,000 tpa in Chattanooga [2]. Job Creation and Community Impact - The new facility is anticipated to create 450 to 500 full-time jobs, contributing to the local economy [2]. - NOVONIX has expanded its partnership with Lookout Valley Middle High School through the NOVONIX Institute of Advanced Battery Technology, providing students with career-focused learning opportunities in the battery industry and STEM fields [3]. Financial Incentives - The company is expected to receive approximately US$54 million in total net tax and other benefits from the City of Chattanooga and Hamilton County over a 15-year period, contingent upon meeting specific conditions [4]. - The acquisition is contingent upon satisfying conditions related to a conditionally committed US$754 million loan from the U.S. Department of Energy [4]. Company Overview - NOVONIX is a leading battery technology company focused on revolutionizing the lithium-ion battery industry with innovative technologies and high-performance materials [6]. - The company manufactures battery cell testing equipment and is growing its synthetic graphite material manufacturing operations, positioning itself prominently in the electric vehicle and energy storage systems battery industry [6].

"分子宇宙"的无穷潜能正等待电池产业开掘。 北京时间4 月 29 日 晚 11 时（ 美东时间 4 月 29 日中午 11 时） ， SES AI 将公开全球首个电池领域专用 " 分子宇宙 " （ Molecular Universe ， MU-0 ），并进行公开演示。 " 分子宇宙 " 是 SES AI 推出的一款电池领域 AI4S 解决方案，涵盖 10 的 11 次方个可用于电池的小分子，并电池专用的大语言模型驱动 训练而成的导航系统，让全球顶尖电池科学家的专业知识 " 触手可及 " 。 SES AI 表示， " 分子宇宙 " 可理解为一个专用于电池材料开发的 " 导航地图 " 或 " 参考词典 " 。通过 " 分子宇宙 " 软件，用户可精准 地筛选出所需材料，打开电池材料创新想象空间。 对于电池产业链企业而言，"分子宇宙"的现实价值在于加速或替代R&D，除了现阶段查询未知分子的功能，未来"分子宇宙"还将延伸到到材 料配方、电芯设计、电池测试等多个环节，实现电池开发全流程的加速。 具体而言， " 分子宇宙 " 软件具备三大方面的优势。 首先是庞大且持续扩展的数据库 —— 分子图谱。当前版本（ MU-0 ） ...

以下文章来源于申万宏源证券上海分公司 ，作者司伟杰 申万宏源证券上海分公司 . 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 ----------------- 本周市场概况 本周创业板强于上证指数，随着沪深 300ETF 净买入有所减缓，市场自发性力量开始接手。上周末的机器人半程马拉松比赛并未降低行业 发展的预期，叠加特斯拉机器人可能来中国建厂的传闻，机器人产业链热度回升，本周表现强势。本周电池大厂的新技术发布会带动了钠 离子电池以及其他新能源产业链的估值修复，氢能受部分省份的《氢能产业中长期发展规划》等涨幅居前，电力、银行等防守方向偶有表 现，贵金属、半导体等板块则面临回调压力。 整体看，本周板块轮动较快，市场窄幅震荡，成交量环比变化不大，缺乏明确的市场机会和操作空间，并且，随着五一长假的临近，下周 三个交易日预计还会延续此状态。 四月的超额收益在哪？ 四月份如果问哪个因素最容易获取超额收益？那么答案一定是业绩。近几周业绩超预期公司，普遍收益较好。首先， 去年四季度和一季度 营收、扣非净利润双增的公司，大概率公司经营良好，并且有望延续，毕竟对未 ...

特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客 户，用作新媒体形势下研究信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿 订阅、接收或使用本订阅号中的任何信息。本订阅号难以设置访问权限，若给您造成不便， 敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相关人员为光大 证券的客户。 报告摘要 一、宁德时代引领新技术突破，骁遥双核+自生成锂/钠负极再次拉开产品代差 宁德时代推出三款颠覆性动力电池产品：钠新电池、骁遥双核电池、第二代神行超充电池。（1）自生成 负极新技术的应用超预期，展现宁德时代领先的研发能力和商业化实力，我们认为得益于金属负极保护层 材料和制备工艺的know-how，使得负极侧颠覆性升级快于预期，相关电解液添加剂和补锂剂环节有望受 益。（2）骁遥双核+自生成锂/钠负极，多元电池的组合适配各种场景，我们认为是在全固态电池商业化量 产之前的窗口期内，又一个拉开代差的产品。（3）钠新电池树立宁德时代钠电池的新品牌，能量密度提 升，突破低温、启停场景，有望带来新的增长曲线。（4）二代神行超充电池实现峰值充电功率12C同时续 航800km ...

Financial Data and Key Metrics Changes - The company achieved a record revenue of $5.8 million in Q1 2025, positioning itself on track to meet its full-year revenue guidance of $15 million to $25 million [5][13] - The gross margin for Q1 was reported at 79%, consistent with expectations, attributed to an asset-light business model [13][14] - The company ended the quarter with a strong liquidity position of $240 million and no debt, expecting to exit 2025 with over $200 million in liquidity [14][15] Business Line Data and Key Metrics Changes - Revenue in Q1 was primarily driven by contracts with automotive OEM customers for AI-enhanced lithium metal and lithium-ion batteries for EV applications [13] - The company is expanding its service offerings through the launch of the Molecular Universe software and service platform, which aims to mass-produce material discovery and development services [10][12] Market Data and Key Metrics Changes - The company is experiencing fierce global competition in the EV market, with new safety regulations prompting the need for innovative solutions [7] - There are currently over a dozen companies, including OEMs and battery manufacturers, engaged in early access testing of the Molecular Universe platform [7][10] Company Strategy and Development Direction - The company is transitioning from a capital expenditure-heavy manufacturing model to a scalable software and service business model [11][12] - The launch of the Molecular Universe platform is expected to significantly enhance the company's revenue potential by providing solutions applicable across all battery chemistries and markets [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue guidance for 2025 and emphasized the foundational nature of the current year for future growth [38] - The company aims to leverage its strong cash position to execute its vision and expand its commercial team to pursue greater opportunities [11][14] Other Important Information - The Molecular Universe platform will be launched on April 29, with a live demonstration planned to showcase its features and pricing structures [10][12] - The pricing structure for the Molecular Universe includes multiple tiers, offering both software subscriptions and on-premise deployment options for larger enterprises [31][32] Q&A Session Summary Question: Can you remind us of the cell type, chemistry, and capacity of your SK facility? - The Jeongju facility has two lines for large part cells and smaller UAM cells, with the capability to add equipment for cylindrical and prismatic cells [18] Question: What are the performance benefits from SCS's 2170s with your improved electrolyte? - The company's electrolyte enables stable performance for 2170 cells with high silicon content, achieving over 6.5 amp hours without gas issues [20] Question: Who are the potential customers for the Molecular Universe AI? - The initial version targets major battery companies, car manufacturers, and chemical and electrical companies, with over a dozen early access users already engaged [23] Question: What is the rationale for the share buyback authorization? - The share repurchase program is viewed as an efficient capital allocation tool, with no impact on the company's liquidity runway [33][34] Question: How will revenue ramp through the year? - The company expects stable revenue growth and is confident in achieving its guidance, with 2025 being a foundational year for significant growth in 2026 [38] Question: How will success of the Molecular Universe be measured? - Success will ultimately be measured by the revenue generated from the Molecular Universe platform [40] Question: What are the expected gross margins in the long term? - The gross margins will depend on the mix of services and products, with software and services expected to have margins above 80% [44]