Core Viewpoint - Zacks Investment Research has initiated coverage of Expion360 Inc. (XPON) with a Neutral recommendation, highlighting both growth potential and significant risk factors for investors in this micro-cap lithium battery manufacturer [1] Group 1: Financial Performance - Expion360 has seen a substantial increase in net sales, with a 104% year-over-year growth for the nine months ending September 30, 2025, reaching $7.4 million, driven by deeper market penetration in the RV and marine sectors [2] - Gross profit surged by 133% year over year, with gross margins improving to 22.4% from 19.7%, attributed to a favorable product mix and effective inventory and cost management [3] - Despite a brief net profit in Q3 2025, the company reported a cumulative net loss of $1.8 million for the first nine months of the year, with negative cash flow from operations and high SG&A expenses at 96.4% of total revenues [6] Group 2: Technological and Market Position - Expion360's LiFePO4 batteries utilize high-density 4.5Ah 26650 cells, providing 32% more energy density than conventional options, and are designed for durability and performance in both recreational and residential energy markets [4] - The ongoing electrification of RVs and the increasing popularity of off-grid travel are driving battery demand, while the company's entry into home energy storage with the e360 product line positions it to benefit from residential solar adoption and federal clean energy incentives [5] Group 3: Risks and Challenges - The company faces execution challenges, including a Q3 inventory write-down of $0.8 million, which raises concerns about demand forecasting and inventory control [7] - Expion360's reliance on a limited customer base, with four customers accounting for 62% of sales, and exposure to overseas suppliers present vulnerabilities to demand fluctuations and cost pressures [7] - The company's share price has struggled, reflecting skepticism regarding its ability to achieve consistent results amid ongoing financial and operational challenges [8] Group 4: Investment Outlook - Expion360 presents promising growth prospects driven by strong industry demand and differentiated technology, but ongoing losses and execution risks necessitate caution until a clearer path to profitability is established [9]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Guangzhou Great Power Energy & Technology Co., Ltd. 廣 州 鵬 輝 能 源 科 技 股 份 有 限 公 司 (A joint stock company incorporated ...

26 January 2026 Global Energy Storage Global Energy Storage: Inside the gigafactory arms race Neil Beveridge, Ph.D. +852 2123 2648 neil.beveridge@bernsteinsg.com Brian Ho, CFA +852 2123 2615 brian.ho@bernsteinsg.com Hengliang Zhang +852 2123 2629 hengliang.zhang@bernsteinsg.com Li-battery demand growth outpaced battery supply growth in 2025. Annual capacity additions Tier 1 companies increased by 28% (509GWh) and by 24% for all battery makers (769GWh). At the same time, stronger-than-expected ESS demand, co ...

Core Viewpoint - The company, Lianying Laser, is experiencing significant demand for small steel shell batteries driven by major brands like Apple and Samsung, with orders reaching 400-500 million yuan for 2025 and expectations to exceed 1 billion yuan in 2026 [1] Group 1: Production Capacity and Management - The company asserts that its production capacity can meet downstream market demand and does not face any capacity bottlenecks [1] - The company is closely monitoring developments in artificial intelligence and plans to integrate AI and other new technologies into its production and management processes to enhance operational efficiency [1] Group 2: Market Demand and Future Planning - There is a growing demand for steel shell batteries in wearable devices, such as foldable smartphones and AR glasses, which is expected to be included in the company's capacity planning for 2026 [1]

证券研究报告·公司点评报告·电池 宁德时代（300750） 盈利韧性强，份额提升，龙头地位稳固 2026 年 01 月 29 日 买入（维持） ◼ 风险提示：政策不确定，需求低于预期。 证券分析师 曾朵红 | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 400,917 | 362,013 | 428,249 | 578,071 | 708,193 | | 同比（%） | 22.01 | (9.70) | 18.30 | 34.98 | 22.51 | | 归母净利润（百万元） | 44,121 | 50,745 | 70,020 | 91,363 | 113,644 | | 同比（%） | 43.58 | 15.01 | 37.98 | 30.48 | 24.39 | | EPS-最新摊薄（元/股） | 9.67 | 11.12 | 15.34 | 20.02 | 24.90 | | P/E（现价&最新摊薄） | 35.17 ...

Core Insights - LG Energy Solution is experiencing a significant divergence between its electric vehicle (EV) and energy storage system (ESS) businesses, with slowing EV demand impacting margins despite a surge in ESS sales [1] Financial Performance - In Q4 2025, LG Energy Solution reported quarterly revenue of approximately KRW 6.1 trillion, showing a sequential increase but a year-on-year decline due to reduced EV battery orders from major automakers [2] - For the full year, revenue decreased to KRW 23.7 trillion from KRW 25.6 trillion in 2024, while operating profit margins improved to 5.7% due to North American production incentives, although margins remained under pressure when excluding these incentives [3] Strategic Focus - Management has identified ESS as the primary growth engine, securing around 140 GWh of ESS order backlog in North America, driven by grid-scale projects and increasing demand from data centers and utilities [4] - The company is expanding its product mix by increasing the production of lithium iron phosphate (LFP) and mid-nickel chemistries for cost-sensitive applications, while also offering turnkey storage solutions [5] Capital Allocation - In response to softer EV demand, LG Energy Solution plans to reduce capital expenditures by over 40% year-on-year in 2026, focusing on utilizing existing production lines and delaying non-essential investments [6] - The strategy includes asset sales of non-core facilities to preserve cash [6] Industry Trends - The shift in strategy reflects a broader trend in the battery sector, where slowing EV adoption, particularly in the U.S., is prompting manufacturers to diversify into stationary storage markets [8] - LG Energy Solution anticipates mid-teen to 20% revenue growth in 2026, primarily driven by ESS expansion, while aiming for a return to positive operating leverage as costs normalize [8]

Core Insights - Expion360 Inc. expects preliminary unaudited revenue of approximately $9.6 million for 2025, reflecting significant growth from $5.6 million in 2024 [7] - The company aims to improve gross margins and strengthen its balance sheet while expanding into new markets and developing specialized energy storage solutions [3] Financial Highlights - Preliminary unaudited gross profit for 2025 is projected to be around $2.2 million, up from $1.2 million in 2024 [7] - The expected net loss for 2025 is approximately $6.2 million, a reduction from a net loss of $13.5 million in 2024 [7] - The cash balance as of December 31, 2025, is anticipated to be about $3.0 million, compared to $0.5 million at the end of 2024 [7] Company Overview - Expion360 is recognized as a leader in lithium iron phosphate (LiFePO4) batteries and accessories for various applications, including recreational vehicles and industrial uses [5] - The company's batteries are noted for being half the weight of standard lead-acid batteries while providing three times the power and ten times the charging cycles [6] - Expion360's products are available through over 300 dealers, wholesalers, and OEMs across the United States [8]

The Republican chair of a U.S. House committee is scrutinizing Ford's plan to repurpose its existing U.S. battery manufacturing facilities to produce lithium iron phosphate cells and grid-scale energy... ...

Core Insights - The National Wealth Fund (NWF) aims to mobilize over £100bn ($137bn) for investment in the UK economy, targeting growth, job creation, and significant reductions in greenhouse gas emissions by 2050 [1][6] Investment Strategy - The NWF's strategy focuses on three main ambitions: unlocking clean energy growth opportunities, prioritizing decarbonization projects, and reducing costs for households and businesses [2] - The plan includes advancing place-based investments across all four UK nations and strengthening national security sectors such as defence, critical minerals, AI, and green steel [3] Sector Focus - Over the next five years, the NWF has identified ten key sectors for investment, including battery manufacturing, carbon capture, energy storage, hydrogen, nuclear, and transport infrastructure, with an expected allocation of £5.8bn [4] - Additionally, the fund will explore investment opportunities in 15 other sectors, such as semiconductors, quantum technologies, and sustainable aviation fuels, to fill market gaps and attract private capital [5] Economic Impact - The NWF has already committed one-third of its capital, mobilizing over £17bn in private investment and creating or supporting more than 70,000 jobs [6] - The strategy aims to deploy the remaining capital within five years to support government goals related to growth and clean energy while ensuring returns for taxpayers [7]

Posco Future M, the battery materials subsidiary of South Korea’s steel and chemicals firm Posco Group, announced it has made a strategic investment in Factorial Inc, a US-based developer of materials for all-solid-state batteries (ASSBs), as it looks to establish an early presence in the supply chain for next-generation electric vehicle (EV) batteries. Posco confirmed that it has completed the investment in Massachusetts-based Factorial, after it signed a memorandum of understanding (MoU) with the compa ...