储能概念在2025年一度"火出圈"，北交所公司海希通讯在机构调研中，最新透露了其储能相关业务布局 并回应了有关传闻。作为正宗的储能概念股，海希通讯2025年在二级市场上走势较为亮眼，2025年该股 累计上涨近85%，2026年1月6日，一度大涨近17%。 关于储能业务产能布局，海希通讯也作了介绍：山东菏泽基地是公司储能业务产能布局的核心载体之 一，与浙江湖州、重庆等地基地形成协同互补的制造体系。目前，菏泽基地新增5GWh储能集成产线已 完成全部铺设工作，现阶段正处于投产前的全面测试阶段，测试内容涵盖产线自动化运行稳定性、产品 质量一致性、核心工艺达标情况等关键环节。从测试进展来看，各项指标均符合预期，产线预计于2026 年2月投入使用。达产后公司将具备超10GWh的生产能力，公司实际出货量与生产能力不直接相关，后 续实际出货量公司将秉持"以销定产"的原则，根据市场订单需求动态调整产能配套策略。 资料显示，海希通讯主要业务包括工业无线遥控设备的研发、制造、销售及进口工业无线遥控设备二次 开发、组装、销售及技术服务，以及储能系统的制造和销售。 海希通讯曾在2025年半年报中介绍，公司新能源业务主要包括储能专用电芯 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook based on its stable industrial control business and growth potential in energy storage and solid-state battery sectors [5][7]. Core Insights - The company's industrial control business is stabilizing, while its energy storage capacity expansion and solid-state battery layout are expected to drive performance growth [5][6]. - The company has shown significant revenue growth, with a projected increase in operating income from 234 million RMB in 2023 to 5.08 billion RMB by 2027, reflecting a compound annual growth rate of 98.49% [5][6]. - The net profit attributable to shareholders is expected to rise from 46 million RMB in 2023 to 409 million RMB by 2027, with a notable increase in profitability metrics such as ROE [5][6]. Summary by Sections Industrial Wireless Remote Control Equipment and Energy Storage Business - The company reported a net profit of 48.09 million RMB for Q1-Q3 2025, marking a year-on-year increase of 9% [6][15]. - The industrial wireless control equipment business includes the development, production, and sales of both the OHM and HBC brands, serving major clients like SANY Heavy Industry and XCMG [6][25]. - The energy storage business is expected to see significant growth, with revenue projected to reach 2.77 billion RMB in 2024, contributing over 54% to total revenue [6][54]. Growth Potential - The energy storage segment is anticipated to expand rapidly, with production capacity expected to exceed 10 GWh by 2026, driven by ongoing projects and increasing demand [6][50]. - The company has secured contracts worth 4.02 billion RMB for energy storage projects, indicating strong market demand and operational capacity [6][10]. Profitability Forecast and Valuation - The forecasted net profits for 2025-2027 are 74 million RMB, 220 million RMB, and 409 million RMB, respectively, with corresponding P/E ratios decreasing from 52.8 to 9.6 [5][7]. - The company is positioned favorably against comparable firms, with a current average P/E of 73X for peers in the industry [7][10].