文 | 中关村储能产业技术联盟 国家重点研发计划战略性科技创新合作项目"规模储能价值收益及碳排放评估"（2024YFE0209100）第一次国际研讨会于2025年4月11日在北京 召开。来自产学研各界的专家围绕储能产业核心痛点、技术路径、碳足迹管理及国际合作等议题展开深入研讨。 02 如何构建储能碳排放评估体系及碳足迹管理体系？ 中关村储能产业技术联盟常务副理事长俞振华 在会上指出，当前储能行业面临三大核心挑战： 成本评估难 （技术路线多样导致成本演变路径不 明确）、 综合价值评估难 （多场景收益难以量化）、 碳排放标准国际互认难 （国内外核算体系差异显著），导致储能在支持未来碳达峰碳中 和目标实现过程中遭遇重重困难。会议围绕三大挑战展开讨论，专家们抽丝剥茧聚焦堵点痛点纷纷发表精彩观点。CNESA将专家核心观点整理 出来以飨读者。 01全球视野下， 储能在碳达峰碳中和路径上的需求与定位 全球 国际可再生能源署政策官员冯金磊提出 ，根据ARENA的1.5℃温控情景预测，全球需在2050年前部署4000GW储能，其中长时储能占比超40%， 储能直接贡献15%的碳减排量。 欧洲 欧洲储能协会秘书长帕特里克·克莱伦斯 ...

阿特斯（688472.SH）2025 年半年报点评 25Q2 业绩亮眼，储能成为新增长级 2025 年 08 月 24 日 事件：2025 年 8 月 21 日，公司发布 2025 年半年报。2025H1，公司实现营 业收入 210.52 亿元，同比-4.13%；归母净利润 7.31 亿元，同比-41.01%； 扣非归母净利润 8.36 亿元，同比-31.95%。2025H1，公司经营性净现金流 37.8 亿元，同比增长超 150%；计提信用及资产减值准备共 6.62 亿元，其中 计提资产减值损失 6.12 亿元，计提信用减值损失 0.50 亿元。 2025Q2，公司实现营业收入 124.67 亿元，同比+0.85%，环比+45.20%； 实现归母净利润 6.84 亿元，同比+3.51%，环比+1346.82%；实现扣非净利 润 7.49 亿元，同比+26.92%，环比+757.26%。 ➢ 组 件 坚持利润优先， 深耕 高 毛 利 市 场 。 2025H1， 公司组件销售 14.8GW，较去年同期基本持平，通过高毛利市场布局，光伏业务毛利率保 持健康状态；组件出货量排名前三的地区分别为中国、美洲、欧洲，其中 ...

业绩简评 8 月 22 日，公司披露 2025 年半年报，1H25 实现营业收入 3.2 亿元，同比+43.2%，归母净利润 0.5 亿元，同比+32.5%，实现毛 利率 61.4%，同比-5.9pct；Q2 实现营业收入 1.8 亿元，同比+45.7%， 归母净利润 0.3 亿元，同比+31.3%，实现毛利率 65.7%，同比 -3.2pct，Q2 业绩符合预期。 经营分析 发电功率预测业务快速增长，领先优势稳固。受新能源装机景气 度&分布式"四可"管理要求，截至 25H1，公司功率预测业务服务 电站数量净新 1116 家，净增数量远超历史水平，用户数量达到 5461 家，细分行业市占率保持领先。公司自研"旷冥"新能源大 模型持续迭代，综合功率预测精度保持行业领先，25H1 公司功率 预测业务实现营收 2.1 亿元，同比+55.1%，毛利率 61.6%，同比 -11.9pct，主要系公司新建电站客户数量较多，低毛利功率预测 设备占比提升影响。 并网控制、新能源管理业务日臻优化产品功能、短期营收承压。 1）并网控制：传统控制类产品的参数及性能优化升级，分布式并 网融合终端产品的销售区域已逐步拓展至十余个省份， ...

据证券之星公开数据整理，近期申昊科技（300853）发布2025年中报。截至本报告期末，公司营业总收 入7017.62万元，同比上升91.79%，归母净利润-7149.95万元，同比下降3.24%。按单季度数据看，第二 季度营业总收入5731.17万元，同比上升99.98%，第二季度归母净利润-3140.32万元，同比上升13.32%。 本报告期申昊科技存货明显上升，存货同比增幅达33.34%。 本次财报公布的各项数据指标表现一般。其中，毛利率9.92%，同比增1607.92%，净利率-104.54%，同 比增44.72%，销售费用、管理费用、财务费用总计9002.89万元，三费占营收比128.29%，同比减 37.11%，每股净资产4.54元，同比减26.56%，每股经营性现金流-0.11元，同比减122.87%，每股收 益-0.49元，同比减4.26% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 3659.08万 | 7017.62万 | 91.79% | | 归母净利润（元） | -6925.8万 | ...

Group 1 - A certain drone company is experiencing a decline in reputation due to concentrated layoffs before year-end bonuses, with severance packages significantly lower than bonuses or regular salaries [2] - The company has seen high turnover in its management team, with frequent changes in key positions such as product and sales heads, leading to instability and difficulty in retaining employees [2] - The company's aggressive investment in AI lacks a clear business model, resulting in financial concerns and a perception of wasted resources [2] - A major home appliance giant has conducted large-scale layoffs in response to e-commerce pressures and competitive challenges, with significant restructuring affecting multiple departments [3] - Middle management has faced demands for either demotion or salary cuts, leading to dissatisfaction among high-earning employees [3] Group 2 - A personal care company hired a new senior brand director with a background from Huawei, who overspent on brand innovation, leading to significant financial losses [4] - The company incurred over 200 million yuan in losses in 2022 due to high marketing expenditures and low product pricing [4] - A laser radar manufacturer sought to partner with a traditional lawn mower company, proposing investment and technical support, but the latter declined large-scale adoption due to cost concerns [5] - Internal conflicts within a hardware company have escalated, with key personnel engaging in power struggles and some using family members to hold shares [6] - A lawn mower company claimed it was not bankrupt despite rumors, stating it had over 10 million yuan in cash and had halted projects due to misalignment with market needs [7] Group 3 - A storage manufacturer faced setbacks in its lawn mower business, spending around 300 million yuan without achieving significant market impact, leading to a shift in focus towards cost reduction [8] - A drone company's new product has been marked by Amazon as having a high return rate, raising concerns about its cash flow and operational stability [9] - A lawn mower company has achieved a high return on investment (ROI) in overseas markets, with advertising expenditures yielding significant sales returns [10] - A humanoid robot manufacturer has paused advertising for its lawn mower product due to high pricing and insufficient product quality, highlighting challenges in market entry [10]

Group 1 - The core stock price of Xin Fengguang as of August 20, 2025, is 33.28 yuan, with a decrease of 0.05 yuan, representing a decline of 0.15% from the previous trading day [1] - The trading volume on that day was 28,128 hands, with a transaction amount of 0.93 billion yuan, and a fluctuation of 4.29% [1] - Xin Fengguang specializes in the research and manufacturing of power grid equipment, with business operations covering energy storage and other fields [1] Group 2 - The company is part of the Shandong sector and holds the qualification of a specialized and innovative enterprise, also involved in the concept of central and state-owned enterprise reform [1] - On August 20, the net outflow of main funds for Xin Fengguang was 224,100 yuan, with a cumulative net outflow of 16.64 million yuan over the past five trading days, accounting for 0.36% of the circulating market value [1]

Core Viewpoint - Jinshi Technology's stock price experienced significant fluctuations on August 18, 2025, closing at 18.02 yuan, a decrease of 2.07% from the previous trading day [1] Stock Performance - As of August 18, 2025, at 15:00, Jinshi Technology's stock price was 18.02 yuan, down from an opening price of 19.13 yuan [1] - The stock reached a high of 19.88 yuan and a low of 17.90 yuan during the trading session [1] - The trading volume for the day was 669 million yuan, with a turnover rate of 8.72% [1] Price Fluctuations - On August 18, the stock price dropped over 2% within 5 minutes at 9:37 AM, reaching 19.35 yuan [1] - The stock rebounded by more than 2% within 5 minutes at 2:30 PM, reaching 18.26 yuan [1] Capital Flow - On August 18, there was a net outflow of 96.24 million yuan from main funds, accounting for 1.32% of the circulating market value [1] - Over the past five days, the cumulative net inflow of main funds was 45.51 million yuan, representing 0.62% of the circulating market value [1] Company Overview - Jinshi Technology operates in sectors including power equipment and energy storage [1]

Core Viewpoint - The article highlights the recognition of Haibo Shichuang as an advanced intelligent factory in Beijing, emphasizing its role in driving digital transformation in the renewable energy sector through high-performance energy storage products and smart manufacturing technologies [2][4]. Group 1: Intelligent Factory Recognition - Haibo Shichuang was awarded the title of advanced intelligent factory by the Beijing Economic and Information Technology Bureau, showcasing its capabilities in smart manufacturing and its contribution to the digital transformation of the renewable energy industry [4][12]. - The evaluation focused on key dimensions such as the safety of critical technology equipment, the reserve of smart manufacturing professionals, and the maturity of smart manufacturing capabilities [4]. Group 2: Technological Integration - The intelligent factory integrates cutting-edge technologies such as artificial intelligence, digital twins, and big data, creating a comprehensive intelligent system that covers research and development, production, and operational management [5][6]. - A digital 3D model of equipment and buildings has been established, allowing for real-time interaction and collaboration between the physical factory and its digital twin [6]. Group 3: Smart Manufacturing Ecosystem - The factory has developed a digital design platform that integrates leading simulation software, enabling virtual verification and optimization of product performance [7]. - A digital twin factory has been created to simulate production processes, allowing for the visualization and transparency of production quality, equipment status, energy consumption, and performance predictions [7][9]. Group 4: Lifecycle Services and Value Creation - The intelligent factory has transformed from a traditional product manufacturer to a service-oriented manufacturing benchmark, establishing a full lifecycle service platform for each battery cell with unique digital identity codes [9]. - Through IoT technology, the factory collects comprehensive data from product design to delivery, providing predictive maintenance and energy efficiency optimization services during the operational phase [9]. Group 5: Sustainability and Carbon Footprint Management - The factory has implemented a carbon footprint management system that optimizes production processes through digital twin technology, significantly reducing carbon emissions per unit product compared to industry averages [11]. - The newly designed energy storage products feature energy recovery capabilities, promoting efficient energy utilization and earning the "Beijing Green Factory" certification [11]. Group 6: Industry Standards and Innovation - Haibo Shichuang actively participates in the formulation of smart manufacturing standards, leveraging its extensive experience in the energy storage sector to lead or contribute to multiple industry standards [12]. - The successful practices of the intelligent factory not only revolutionize the company's production model but also promote high-quality and sustainable development across the entire industry chain [12].

Core Viewpoint - The article highlights the recognition of Haibo Shichuang as an advanced intelligent factory in Beijing, emphasizing its role in driving digital transformation in the new energy industry through high-performance energy storage products and big data-driven manufacturing [1][4]. Group 1: Intelligent Factory Overview - Haibo Shichuang's intelligent factory is located in Fangshan District, Beijing, and integrates artificial intelligence with energy storage, utilizing cutting-edge technologies such as digital twins, industrial internet, and big data to create a fully automated system covering research, production, and operations [5]. - The factory has established a comprehensive digital 3D model of its equipment and buildings, enabling real-time interaction and collaboration between the physical factory and its digital twin [5]. Group 2: Technological Advancements - In the research and design phase, the factory has developed a digital design platform that integrates leading simulation software for virtual validation and optimization of product performance [6]. - The production process employs a digital twin to simulate equipment and material movements, enhancing visibility and efficiency in production management through data analysis and visualization [6]. Group 3: New Manufacturing Ecosystem - The intelligent factory has transitioned from a traditional product manufacturer to a service-oriented model, establishing a product lifecycle service platform that assigns unique digital identities to each battery cell, enabling comprehensive data collection throughout the product's lifecycle [9]. - This model allows for predictive maintenance and energy efficiency optimization, creating continuous added value for customers [9]. Group 4: Sustainability and Efficiency - The factory has implemented a carbon footprint management system across the entire value chain, significantly reducing carbon emissions per unit product compared to industry averages [10]. - The newly designed energy storage products feature energy recovery capabilities, promoting efficient energy use and earning the "Beijing Green Factory" certification [10]. Group 5: Industry Impact and Standards - Haibo Shichuang actively participates in the formulation of industry standards related to intelligent manufacturing, leveraging its extensive experience in energy storage to promote standardization and regulation within the industry [11]. - The successful practices of the intelligent factory not only revolutionize the company's production model but also serve as a replicable model for the intelligent transformation of the new energy equipment manufacturing sector [11].

Investment Rating - The industry investment rating is "Positive" [2] Core Views - The report emphasizes the focus on technology growth directions and the recovery opportunities in undervalued sectors, particularly in machinery and robotics [2][15] - The report highlights the strong performance of excavator sales and the steady growth of forklift sales, indicating a positive trend in the machinery sector [12][14] Summary by Sections Company Performance - **Jiaocheng Ultrasonic**: Achieved revenue of 148 million yuan in Q1 2025, a year-on-year increase of 22.35%, and a net profit of 23.63 million yuan, up 2152.47%. The company is expected to benefit from the recovery in the lithium battery industry and growth in semiconductor sectors [3][15] - **Zhenghe Industrial**: Reported revenue of 395 million yuan in Q1 2025, a 6.32% increase, with a net profit of 53.84 million yuan, up 100.09%. The company is developing micro-chain systems for robotics, which may benefit from the mass production of humanoid robots [4][15] - **Lvtian Machinery**: Focused on general power machinery and energy storage products, with revenue growth rates of 47.9%, 72.5%, and 50.1% in Q3 2024, Q4 2024, and Q1 2025 respectively. The company expects a net profit growth of 50%-70% in H1 2025 [5][15] Market Trends - In July 2025, excavator sales reached 17,138 units, a 25.2% year-on-year increase, with domestic sales up 17.2% and exports up 31.9%. This growth is attributed to infrastructure investment and equipment replacement policies [13][58] - Forklift sales in July 2025 totaled 118,605 units, a 14.4% increase year-on-year, with both domestic and export sales showing strong growth [14][41] Robotics and Technology - The report notes the increasing demand for humanoid robots and AI-related equipment, with significant events such as the World Humanoid Robot Games showcasing advancements in this field [12][56] - The domestic industrial robot market is expected to grow significantly, driven by labor cost increases and government policies promoting automation [53][56] Policy Support - The report outlines various government policies aimed at supporting the machinery and robotics sectors, including initiatives for equipment upgrades and technological innovation [39][56]