格隆汇1月27日丨科力远(600478.SH)公布，为满足公司战略发展需求及产业联动效应，进一步夯实储能 领域的定位和布局，持续深化绿色、低碳、可持续的能源体系转型，公司拟与管理人天津滨海新区新兴 产业基金管理有限公司及其他合伙人天津滨海新能源投资管理有限公司、深圳市元科慧储投资有限公司 共同投资设立储能基金并签订合伙协议，基金将主要对新型储能场景及产业链上下游优质项目进行投 资。基金目标总规模为人民币20亿元，初始规模5亿元，公司拟作为有限合伙人认缴出资2.49亿元，持 有合伙企业49.80%的份额比例。 天津滨海新区建设投资集团有限公司系滨海新能源的控股公司，作为天津市国资委全资企业，滨海建投 拥有领先的资产实力，优质的资信水平，也沉淀了丰富的地方资源和产业储备。公司与滨海建投共同发 起设立储能基金，不仅可以助力储能上下游产业投资，打通大储能生态链各环节，还将实现从项目开 发、投建、运营运维到资产化的全周期闭环，构建持续滚动升级模式。同时，结合滨海新能源在京津冀 地区的风电、光伏等资源，双方可进一步探索在新能源及储能等领域的资源协同与深度耦合，共同开拓 并创造新的业务增长空间。 ...

格隆汇1月27日丨科力远(600478.SH)公布，为满足公司战略发展需求及产业联动效应，进一步夯实储能 领域的定位和布局，持续深化绿色、低碳、可持续的能源体系转型，公司拟与管理人天津滨海新区新兴 产业基金管理有限公司及其他合伙人天津滨海新能源投资管理有限公司、深圳市元科慧储投资有限公司 共同投资设立储能基金并签订合伙协议，基金将主要对新型储能场景及产业链上下游优质项目进行投 资。基金目标总规模为人民币20亿元，初始规模5亿元，公司拟作为有限合伙人认缴出资2.49亿元，持 有合伙企业49.80%的份额比例。 天津滨海新区建设投资集团有限公司系滨海新能源的控股公司，作为天津市国资委全资企业，滨海建投 拥有领先的资产实力，优质的资信水平，也沉淀了丰富的地方资源和产业储备。公司与滨海建投共同发 起设立储能基金，不仅可以助力储能上下游产业投资，打通大储能生态链各环节，还将实现从项目开 发、投建、运营运维到资产化的全周期闭环，构建持续滚动升级模式。同时，结合滨海新能源在京津冀 地区的风电、光伏等资源，双方可进一步探索在新能源及储能等领域的资源协同与深度耦合，共同开拓 并创造新的业务增长空间。 ...

Core Insights - The article highlights the latest developments in energy storage projects from leading companies such as CATL, BYD, EVE Energy, Haibo Sichuang, Trina Storage, and Jinko Solar, with a total scale exceeding 2.4 GWh [2] Group 1: CATL - CATL's Sivrihisar project in Turkey, with a capacity of 49.2 MWp solar and 34.1 MWh storage, is the first hybrid asset approved under the DGES framework in Turkey [4][6] - The project utilizes CATL's EnerC series liquid-cooled battery system, enhancing safety and cycle life while maintaining stable charging and discharging efficiency in Turkey's arid climate [6] Group 2: BYD - BYD has successfully implemented a 100 MW/200 MWh energy storage station in Hezhou, marking the city's first centralized shared energy storage facility [7] - Additionally, BYD partnered with ContourGlobal to establish a 500 MWh standalone battery energy storage system in Bulgaria, which is one of the largest independent storage projects in Eastern Europe [9] - BYD has delivered over 500 energy storage projects globally, covering more than 110 countries and regions [9] Group 3: EVE Energy - EVE Energy has launched a 628 Ah energy storage battery technology at the Guangzhou Baiyun comprehensive energy storage demonstration project [10] - The 628 Ah battery, named "Mr. Big," features a capacity of 2 kWh and a cycle life exceeding 12,000 times, with a strategic collaboration with the National New Energy Storage Innovation Center [12] Group 4: Haibo Sichuang - Haibo Sichuang's 343 MWh emergency power storage project for coal mines utilizes advanced liquid-cooled storage systems designed for harsh environments [13][14] - The project aims to ensure stable operation under extreme conditions and provide emergency power to critical loads in coal mines [14] Group 5: Trina Storage - Trina Storage has successfully delivered a 1.7 GWh energy storage project in the Asia-Pacific region, which is the company's largest overseas project to date [17] - The project employs Trina's Elementa 2 storage system, featuring AI bionic liquid cooling technology for stable operation across a wide temperature range [17] Group 6: Jinko Solar - Jinko Solar has completed a 10 MWh energy storage project in Handan, Hebei, utilizing two Blue Whale SunTera G2 liquid-cooled storage systems [19][21] - The project aims to reduce operational costs through peak-valley electricity price arbitrage and improve the reliability of power supply for local merchants [21] - Despite reporting significant losses, Jinko Solar emphasizes rapid growth in its energy storage business and the effectiveness of its solar-storage synergy [21]

（文章来源：北京商报） 北京商报讯1月27日晚间，智光电气（002169）发布2025年度业绩预告显示，公司预计全年实现归属净 利润1.1亿—1.6亿元，同比扭亏为盈，上年同期为亏损3.26亿元。 智光电气表示，本报告期公司的储能业务快速发展，订单量和收入大幅增长，且已投运的独立储能电站 效益较好，本报告期毛利额增加较多；受公司间接投资的粤芯半导体估值变动影响，本报告期公司公允 价值变动损益增长较多。 ...

格隆汇1月27日丨智光电气(002169.SZ)公布，预计2025年归属于上市公司股东的净利润11,000万元– 16,000万元，同比扭亏为盈，扣非亏损16,000万元-11,000万元。1、本报告期公司的储能业务快速发 展，订单量和收入大幅增长，且已投运的独立储能电站效益较好，本报告期毛利额增加较多；2、受公 司间接投资的粤芯半导体估值变动影响，本报告期公司公允价值变动损益增长较多。 ...

Core Viewpoint - The company Zhiguang Electric (002169.SZ) is expected to achieve a net profit of 110 million to 160 million yuan in 2025, marking a turnaround from a loss of 326 million yuan in the previous year due to rapid growth in its energy storage business and favorable valuation changes in its semiconductor investments [1]. Group 1: Financial Performance - The projected net profit for 2025 is between 110 million and 160 million yuan, indicating a significant improvement compared to the previous year's loss of 326 million yuan [1]. - The company is expected to turn from a loss to profit year-on-year, showcasing a strong recovery in its financial performance [1]. Group 2: Business Development - The rapid development of the energy storage business has led to a substantial increase in orders and revenue [1]. - The operational efficiency of the independently operated energy storage power stations has contributed positively to the company's financial outlook [1]. Group 3: Valuation Impact - Changes in the valuation of the company's semiconductor investments have resulted in increased fair value changes and gains [1].

✓ 储能系统采购决策者 ✓ 产业链上下游企业 ✓ 政府招商部门与产业园区负责人 ✓ 投资机构与行业分析师 区域布局热力图 ： 精准标注全国多个 重点省市的龙头企业和产业集群 产业链全景图谱 ：覆盖从锂矿→电芯→PCS→系统集成→EPC→应用 全链条核心企业 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 为什么这张地图是储能企业的"必投广告"？ 精准传播，直击决策层 本分布图将定向发行至 3万+储能产业链核心人员 ： 每一张地图，都是一份进入核心圈层的邀请函！ 地图内容核心价值： （ 本图片为示意图，具体以实际产品为准) 广告位投放请联系： 13248122922 （ 微信同） 鑫椤资讯储能电芯出货量 鑫椤资讯 工商业储能出货量 鑫椤资讯 基站&数据中心备电 出货量 鑫椤资讯 源网侧储能出货量 鑫椤资讯 户储(含便携式)出货量 ...... 1.冠名赞助——在分布图左上方与主办方共同显示企业LOGO等信息 2.品牌赞助——在分布图下方空白位置展示企业名称、主营产品、联系方式等内容 3、企业名片-- 在分布图下方空白位置展示 企业名称、 主营业务 、联系方式 重点项目 ...

1月26日，北京海博思创科技股份有限公司与大同市政府正式签署合作协议。双方将围绕智 能制造、独立储能电站等重点领域，开展全方位、深层次的合作，共同推动大同市新能源 产业结构优化与提升，助力区域能源转型与可持续发展。 自2023年海博思创储能装备产业园落户大同以来，双方合作持续深化，结出累累硕果。 海博思创 大同智能制造基地2025年实现产值跨越式增长，二期建设稳步推进，相关储能电站项目也取得阶 段性重要进展，充分体现"大同速度"与"大同服务"的高效与温度。 展望未来，海博思创将充分发挥作为储能行业龙头企业的带动作用，推动更多优质项目、先进技 展望未来，海博思创将充分发挥作为储能行 龙头企 的带动作用，推动更多优质项目、先进技 术与创新模式落地大同。海博思创将与大同市同频共振，携手构建储能产业生态圈，集聚产业链 上下游优质企业协同发展，全力将大同打造成储能产业发展的高地。 签约仪式上，大同市委副书记、市长刘俊义表示，近年来，大同始终锚定能源赛道，以构建新型 能源体系为目标，以深化项目建设为重要抓手，多措并举扎实推动能源转型。 海博思创项目与大 同市产业发展规划高度契合，希望双方以此次签约为新起点，在制造基地、储 ...

Core Viewpoints - Morgan Stanley has identified Sungrow as a top pick in the Asia-Pacific utility and renewable energy sector for 2026, maintaining an "Overweight" rating with a target price of 250 RMB, up from a current price of 162.08 RMB. The report highlights two main advantages: the company's proprietary PCS technology and its focus on high-end markets, which provide strong growth resilience. Additionally, China's provincial electricity reform policies and potential AIDC storage orders are expected to catalyze performance growth [2]. Group 1: Key Insights from Field Research - The PCS technology is crucial for breaking into the AIDC storage market, as it meets the stringent response time requirements. Sungrow plans to sign and deliver small-scale AIDC storage orders by 2026, with significant growth expected in 2027. The company has already gained relevant experience through its "photovoltaic + storage base load" demonstration projects [3]. - Global energy storage installations are projected to grow over 40% in 2026, with significant regional disparities. The Chinese market is expected to double its installation capacity compared to 2025, while the Middle East, other Asian regions, and the EU are anticipated to see growth exceeding 50%. The U.S. market, however, is expected to slow due to OBBB policy impacts [6]. - Three key catalysts for Sungrow's performance growth have emerged: accelerated certification processes and order placements for AIDC storage products, the introduction of peak and valley pricing policies in more Chinese provinces, and discussions on energy transition in China's 14th Five-Year Plan, which may further unlock industry potential [7]. Group 2: Investor Questions and Answers - Sungrow's competitive advantage in the AIDC storage market lies in its high reliability and response speed, with a relatively stable competitive landscape due to high technical barriers. As the second-largest player in the global storage market, Sungrow's financing capabilities for inverters and storage systems position it as a preferred supplier for U.S. data centers [8]. - Energy storage can alleviate power supply tensions by balancing load during peak and off-peak periods. The demand for storage systems is expected to rise as power supply issues intensify in the U.S. due to AIDC deployments [9]. - The U.S. Department of Energy's proposed rules regarding large power loads accessing the grid may expedite the integration of storage systems, as mixed facilities that include storage are likely to benefit from faster grid access processes [11]. - To comply with OBBB policy requirements, Sungrow plans to establish a joint venture with non-Chinese partners to procure non-Chinese batteries, thereby reducing the Chinese component ratio in its storage systems [12]. - The reduction of battery export tax rebates in China is expected to have a limited impact on Sungrow's profit margins, as the company has included price adjustment clauses in most contracts to pass on additional costs to customers [13]. - Despite rising input costs, market expectations for Sungrow's gross margin are deemed reasonable, with a projected decline from 38% in 2025 to 33.5% in 2027, reflecting a 5 percentage point drop [14][15]. - Sungrow is expected to receive approval for its Hong Kong IPO in February 2026, with funds allocated for next-generation inverter R&D, overseas projects, digital upgrades, and operational support [16]. - The competitive landscape in China's storage market is intense, leading to a projected decline in Sungrow's market share from approximately 10% in 2024 to around 5% in 2025. However, the demand for high-quality products is expected to rebound in 2026, benefiting Sungrow [17]. - The AIDC storage business is anticipated to yield significant profit growth, with projections indicating low double-digit growth in 2027 if Sungrow captures one-third of the U.S. AIDC storage market [18]. - The AIDC high-voltage direct current (HVDC) power supply equipment market is projected to reach 200 billion RMB by 2030, with Sungrow potentially capturing a 20% market share, leading to a per-share valuation increment of 26.4 RMB by 2026 [20].

Core Viewpoint - Hunan Keli Yuan New Energy Co., Ltd. (Keli Yuan) expects a significant increase in net profit for 2025, projecting a growth of 1156.74% to 1542.15% compared to the previous year, indicating a fundamental improvement in its main business profitability and quality [1] Group 1: Financial Performance - Keli Yuan anticipates a net profit attributable to shareholders of between 0.75 billion to 0.98 billion yuan for 2025, reflecting a substantial year-on-year increase [1] - The company’s profitability is expected to improve significantly due to its strategic investments in the energy storage sector [1] Group 2: Business Strategy - Keli Yuan is leveraging a large energy storage ecological innovation consortium model to invest in independent energy storage stations, creating dual revenue streams from energy storage cabinet sales and station operation dividends [1] - The company is focusing on enhancing its core competitiveness through innovation in overall solutions, project acquisition, resource integration, and technological advancements [1] Group 3: Industry Position and Innovations - Keli Yuan has established a full industry chain integration from lithium carbonate mining to terminal energy storage, which enhances its resilience against raw material price fluctuations and ensures product competitiveness [2] - The company is accelerating the development of key components for solid-state batteries and plans to implement solid and semi-solid batteries in energy storage applications by 2026 [2] - Keli Yuan's integrated system from mining to energy storage products and station operation addresses industry challenges related to raw material price volatility and ensures stable supply and cost advantages for downstream energy storage systems [2]