跨界融合，协同进化：构建储能全链条智能新图景 二、活动时间 2025年10月31日下午 三、活动地点 四、活动规模 中关村科技园区房山园 80人 文 | 中关村储能产业技术联盟 在全球能源结构加速转型与"双碳"目标深入推进的大环境下，储能产业已从规模化扩张阶段， 迈入以"生产制造提质、产品设计升级、交易手段优化"为核心的高质量发展关键期。AI深度学 习、数字孪生、工业互联网平台等技术促进储能电芯自动化组装、系统集成流程优化、能耗实 时监控；智能传感、云端数据交互、预测性维护算法等技术的进步为储能的产品设计提供了更 多优化支持；大数据、区块链、智能算法等技术支撑储能交易数据实时处理、资产数字化确 权、市场化定价模型构建。 中关村房山园 立足北京储能产业示范区，致力于汇聚产业动能，聚焦智能制造升级，引领 绿色能源未来。 本次沙龙活动将通过深化储能与数字智能的融合创新，推动产业链各环节协 同突破，助力企业在全链条智能化方向实现从"技术应用"到"价值创造"的跨越。 一、活动主题 五、组织架构 主办单位： 中关村储能产业技术联盟 中关村房山园管委会区科委 协办单位: 智能网&新华社-智能零碳 支持单位： 北京海博思创科 ...

Investment Rating - The report maintains a "Recommended" rating for the electric power equipment industry [1] Core Views - The report highlights the continuous addition of new policies supporting novel energy storage and the positive trend in the wind energy sector [1][6] - The electric power equipment sector shows strong relative performance, with a 1-month increase of 1.8%, a 3-month increase of 30.0%, and a 12-month increase of 38.4% [5] - The report emphasizes the ongoing supply-side reforms in the photovoltaic sector, with silicon material prices stabilizing around 50,000 yuan per ton [6][7] - The wind energy sector is expected to benefit from increased demand and favorable policies, with an average bidding price for wind turbines rising to 2,325 yuan/kW [6][10] - The energy storage market is projected to reach a scale of 15GW by 2030 in Henan Province, with supportive measures being implemented [7][10] - Tesla's energy and storage business reported a revenue of $3.415 billion in Q3 2025, marking a 44% year-on-year increase [7] - The report notes advancements in solid-state battery technology and the growing demand for fast-charging LFP batteries [8][9] Summary by Sections Photovoltaic Sector - The report indicates that the supply-side reforms are gaining traction, with significant policy developments expected [6][7] - Companies to watch include GCL-Poly Energy and Tongwei Co., Ltd. for silicon materials, and LONGi Green Energy and Aiko Solar for high-efficiency battery technologies [6] Wind Energy Sector - The Beijing Wind Energy Exhibition has set an annual installation target of no less than 120GW for the 14th Five-Year Plan, with offshore wind expected to contribute significantly [6][10] - Key companies to monitor include Goldwind Technology and Mingyang Smart Energy [6] Energy Storage Sector - The report outlines Henan Province's plans for energy storage development, aiming for a 15GW capacity by 2030 [7] - Tesla's significant growth in energy storage deployment is highlighted, with a record 12.5GWh installed in Q3 2025 [7] Lithium Battery Sector - The report discusses the ongoing advancements in solid-state battery technology and the increasing production of fast-charging LFP batteries [8][9] - Companies such as CATL and A123 Systems are identified as key players in the fast-charging battery market [8]

Core Insights - In the first three quarters of 2023, the company reported revenue of 31.663 billion yuan, a year-on-year increase of 24.67%, marking the first time it exceeded 30 billion yuan in the same period [1] - The net profit attributable to shareholders reached 4.254 billion yuan, almost matching the full-year level for 2024, with a year-on-year growth of 26.84% [1] - The company has faced challenges such as insufficient growth momentum and continuous pressure on gross margins despite strong revenue growth [1][4] Financial Performance - The company's revenue has grown from 11.511 billion yuan in 2020 to an expected 37.041 billion yuan in 2024, achieving over threefold growth [6] - However, the year-on-year growth rate of revenue has entered a downward trend, decreasing from over 55% in 2020-2021 to 21.77% in 2024 [6] - The net profit has also shown a significant slowdown, with the year-on-year growth rate declining from 120.62% in 2020 to a projected negative growth in 2024, dropping to 4.285 billion yuan [6][8] Gross Margin Trends - The gross margin has decreased from 38.96% in 2020 to 28.7% in 2024, a decline of over 10 percentage points [8] - In the first three quarters of 2023, the gross margin was 29.27%, down 1 percentage point year-on-year, primarily due to the increasing revenue share from the lower-margin new energy vehicle business [8] Business Segments - The company's main business segments include general automation, new energy vehicles, smart elevators, and rail transit [10] - The new energy vehicle and rail transit segments generated approximately 14.8 billion yuan in sales, a year-on-year increase of about 38%, accounting for about 47% of total revenue [11] - The general automation segment, previously the largest revenue contributor, saw its share decline, generating about 13.1 billion yuan, with a year-on-year growth of 20% [11] Competitive Landscape - The company faces competition from foreign brands such as Siemens, ABB, and Mitsubishi, which have historically dominated the Chinese industrial automation market [12] - Despite being a domestic player, the company has advantages such as local policy support and customized solutions, allowing it to expand market share amid global supply chain instability [12] Strategic Initiatives - The company is actively pursuing new growth opportunities by entering the humanoid robotics market, leveraging its expertise in motion control and servo drives [14] - In 2024, the company began developing key components for humanoid robots and has already produced prototypes for high-performance joints [15] - The company has also re-entered the energy storage market, forming strategic partnerships and launching new products, despite facing intense competition in the sector [17][18]

Core Viewpoint - The significant growth in revenue and profit for Yueda Investment in Q3 2025 highlights the successful transformation towards renewable energy, with a focus on wind and solar projects driving substantial financial performance [1][2][3] Financial Performance - In Q3 2025, Yueda Investment achieved operating revenue of 789 million yuan, a year-on-year increase of 22.97% [1] - The company reported a non-GAAP net profit of 14.89 million yuan, up 195.65% year-on-year [1] - For the first three quarters, the company recorded total operating revenue of 2.147 billion yuan, a 16.29% increase, and a net profit attributable to shareholders of 75.55 million yuan, soaring by 200.05% [1] Dividend Distribution - Yueda Investment proposed a profit distribution plan for Q3, with a cash dividend of 0.03 yuan per share, totaling 25.53 million yuan, which represents 33.79% of the net profit for the first three quarters [4] - The company reported an undistributed profit of 4.422 billion yuan as of September 30, 2025, ensuring a solid foundation for cash dividends [4] Renewable Energy Strategy - The substantial increase in non-GAAP net profit is attributed to the scaling of renewable energy contributions, with successful projects in solar, wind, and energy storage [2] - Key projects that have commenced operations include the 150MW fish-solar complementary project and various microgrid projects, contributing to significant economic benefits [2] Operational Efficiency - The company has optimized its business structure by divesting from loss-making segments, leading to a reduction in management costs and improved operational efficiency [3] - Traditional business segments such as textiles and logistics have also shown positive revenue growth, supporting the overall transition to renewable energy [3] New Project Investments - Yueda Investment plans to invest 590 million yuan in two offshore wind projects in collaboration with China Resources Power and Envision Energy, enhancing its renewable energy portfolio [5] - The projects, with total investments of 2.712 billion yuan and 4.378 billion yuan respectively, are expected to yield internal rates of return of 10.2% and 9.79%, with payback periods of 13 years [5] - This investment aligns with national carbon neutrality goals and strengthens the company's existing renewable energy infrastructure [5]

Core Viewpoint - Haibo Sichuang has emerged as a leading player in the energy storage sector, with a significant stock price increase and strong revenue growth, driven by its innovative approach to energy management and system integration [1][3][18]. Financial Performance - In the first half of 2025, Haibo Sichuang achieved a revenue of 4.522 billion yuan, marking a year-on-year growth of 22.66%, with overseas revenue surging by 3195.7% [3]. - The company reported a net cash flow from operating activities of -1.654 billion yuan, indicating cash flow pressures despite high revenue growth [18]. Market Position and Strategy - Haibo Sichuang's stock price has increased from 19.38 yuan per share at its issuance to 300 yuan per share, representing a 15-fold increase over nine months, making it one of the best-performing stocks in the market [1]. - The company secured a major contract for a 500,000 kW/3 million kWh energy storage project in Inner Mongolia, with a total investment of 8.35 billion yuan, which is expected to be operational by mid-November [4]. Industry Context - The global energy landscape is undergoing significant changes, with electrochemical energy storage becoming a key solution to the "safe, low-carbon, and economical" energy triangle [6]. - The energy storage industry is facing intense competition, with nearly one-fifth of global storage projects reported to be in "unhealthy operation" [8]. Technological Differentiation - Haibo Sichuang's founder emphasizes the importance of "software-defined energy," which creates structural barriers that differentiate the company from traditional hardware manufacturers [11]. - The company focuses on system scheduling, grid compatibility, and asset returns, utilizing proprietary technology across BMS, EMS, PMS, and PCS to enhance efficiency and reliability [11][12]. Competitive Focus - The company has shifted its competitive focus from hardware price wars to asset yield battles, aiming to provide comprehensive energy services through AI and operational strategies [14]. - By leveraging AI algorithms and big data, Haibo Sichuang aims to optimize energy storage systems for dynamic revenue generation rather than merely hardware sales [15]. Growth Potential - The company is targeting high-value applications, such as data center energy storage, which require high reliability and rapid response capabilities, positioning itself as a viable alternative to traditional diesel generators [17]. - Haibo Sichuang plans to achieve parity between its domestic and overseas business scales within 3-5 years, with high-margin overseas operations expected to drive net profit growth [17]. Operational Challenges - Despite impressive growth, the company faces challenges in maintaining operational efficiency and cash flow health, necessitating improved financial management strategies [18][19]. - The resilience of the company's financial and operational systems will be crucial for its long-term development, as it navigates the complexities of scaling and efficiency [19].

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 Viewpoints - The recent quarterly reports from various funds reveal a strong focus on sectors such as artificial intelligence, innovative pharmaceuticals, and non-ferrous metals, which have been popular this year [2][4][7][11]. Fund Holdings and Performance - The Rongtong Industrial Trend Fund reported significant gains, with top holdings including Haibo Sichuang, Industrial Fulian, and Zhongji Xuchuang, which saw year-to-date price increases of 313.46%, 218.92%, and 301.99% respectively [4][5]. - The fund's net asset value increased by 93.69% in the first three quarters, ranking it 9th among ordinary stock funds, with a stock allocation of 89.55% [5][6]. - The Ping An Core Advantage Fund highlighted its focus on innovative pharmaceuticals, with top holdings such as Kangfang Bio, which increased by 89%, and Xinda Bio, which rose by 133.74% [7][9]. - The fund achieved an 88.95% increase in net asset value, placing it in the top 2% of over 4,500 mixed equity funds [9]. Sector Insights - The Rongtong Industrial Trend Fund manager expressed optimism about the ongoing upward trend in the A-share market, indicating that the overall market valuation remains reasonable [6]. - The Ping An Core Advantage Fund manager noted that a significant number of innovative drug companies are expected to become profitable, with a surge in out-licensing activities anticipated to drive growth [9]. - The Wanji Trend Leading Fund reported substantial increases in holdings of gold and non-ferrous metals, with Shandong Gold's stock increasing by 650.77% [11][12]. Future Outlook - The Wanji Trend Leading Fund manager anticipates several trends for the fourth quarter, including rising prices for physical assets due to increased instability in the dollar system and a restructuring of global manufacturing supply chains [12].

Core Insights - The Longjiang Energy Construction Fourth Division 73rd Regiment shared energy storage project has awarded a contract to Zhongtian Energy Storage Technology Co., Ltd. for 516 million yuan, translating to a unit price of 0.43 yuan/Wh [1][3] - The project, located in the Keke Dala Economic and Technological Development Zone in Xinjiang, has a construction scale of 300 MW/1200 MWh [1][2] Group 1 - The procurement was conducted by China Energy Construction Group Heilongjiang Energy Construction Co., Ltd. through an invitation bidding process [2][3] - The project was highly competitive, with China Energy Construction Group Heilongjiang Energy Construction Co., Ltd. and China Power Construction Group Beijing Survey and Design Research Institute Co., Ltd. winning the EPC bid with a quote of approximately 737 million yuan [1][3] Group 2 - The procurement project number is HEEC-HW-02000068-01021-2025-002, and the opening date for bids was October 20, 2025 [3] - The project involves a single set of 300 MW/1200 MWh shared energy storage [3]

文 | 西清能源 2025年10月16日，在第五届储能安全研讨会暨国家重点研发计划项目"国际锂离子电池储能安全评价关键技术合作研发"研讨会上，西清能源发布 《储能电站用锂离子电池健康评估实践分析》报告。该报告对国内11个储能电站的运行数据进行了分析， 是国内首个针对实际储能电站的健康状态 综合评估研究成果。 图：西清能源首席科学家梁惠施做主题报告 01 背景及评估方法 图：行业背景 据不完全统计，2017年至今，全球已发生超过百起储能电站火灾事故，多数由运行过程中积累的安全隐患逐步演变为电池热失控引发。诸多案例共 同表明： 运行隐患的累积效应是热失控的"催化剂" 。国内早期投运的储能电站运行健康状况如何？是否存在潜在安全风险？有哪些有效手段可为这 些电站进行系统性"体检"？ 图：活动背景 基于上述背景，2024年12月与2025年6月，中关村储能产业联盟面向全国已投运的储能电站，组织了两期基于数据分析的免费健康评估活动，旨在 通过" 数据分析—健康评估—隐患诊断"的全链条分析 ，提升锂离子电池储能电站的安全运行水平。活动共吸引超过20家单位报名，其中11座储能 电站（涵盖电源侧8座、工商业侧3座）提供了有效数 ...

Group 1 - The core point of the article is that Kelu Electronics announced a total external guarantee amount of RMB 1.9 billion, which represents 380.61% of the company's audited net assets as of December 31, 2024 [1] - The current balance of external guarantees is approximately RMB 516 million, accounting for 103.37% of the company's audited net assets as of December 31, 2024 [1] - As of the first half of 2025, Kelu Electronics' revenue composition is as follows: energy storage business 49.83%, smart grid 48.74%, property 0.91%, comprehensive energy management and services 0.43%, and other businesses 0.09% [1] Group 2 - Kelu Electronics has a market capitalization of RMB 15.8 billion [1]