Core Viewpoint - The company, Huabao New Energy, has shown significant growth in its stock performance and financial metrics, driven by advancements in battery technology and strategic partnerships in the energy storage sector [1][2][3]. Company Overview - Huabao New Energy, established in 2011, focuses on the research, development, production, and sales of lithium battery storage products, with portable energy storage products as its core offering [7]. - The company has a revenue composition where portable energy storage products account for 77.46%, solar photovoltaic panels for 20.84%, and other products for 1.37% [7]. - As of June 30, 2025, Huabao New Energy reported a revenue of 1.637 billion yuan, representing a year-on-year growth of 43.32%, and a net profit of 123 million yuan, up 68.31% year-on-year [7]. Strategic Partnerships and Technology - The company utilizes advanced IBC battery technology in its portable solar products, achieving a conversion efficiency of up to 25% [2]. - A strategic partnership with Zhongbi New Energy was established to jointly develop sodium-ion batteries, exploring their application in end products [2]. Market Position and Financial Performance - As of the latest report, 95.09% of the company's revenue comes from overseas markets, benefiting from the depreciation of the Chinese yuan [3]. - The stock has seen a recent increase of 7.55%, with a trading volume of 318 million yuan and a market capitalization of 12.526 billion yuan [1]. Shareholder Composition - As of June 30, 2025, the number of shareholders increased by 15.49% to 13,400, with an average of 3,580 shares held per shareholder, up 20.37% [7]. - Notable institutional shareholders include Guangfa High-end Manufacturing Stock A and Hong Kong Central Clearing Limited, with significant increases in holdings [8].

4、自2011年成立以来，公司一直聚焦于锂电池储能领域。在设立之初，公司以充电宝的ODM业务为 主，随着业务的持续发展，公司在锂电池电源管理、工业设计、结构设计等方面的技术积累不断加深， 并积累了松下、LG化学、比克电池、安富利等高质量的供应商资源，拓展了包括特斯拉、宝马、超霸 电池、DSG、ClasOhlson等知名客户，产供销体系日益完善，公司实力逐步增强。 来源：新浪证券-红岸工作室 9月23日，华宝新能跌4.01%，成交额1.92亿元，换手率3.76%，总市值116.47亿元。 异动分析 BC电池+钠离子电池+锂电池概念+储能+人民币贬值受益 1、2023年9月8日互动易：公司便携太阳能产品均使用BC类电池，目前采用全球最先进的IBC电池技 术，拥有行业领先的高达25%的转换效率。 2、2023年7月11日互动易：公司与中比新能源达成战略合作，将依托双方的行业技术优势，共同开发钠 离子电池，探索钠离子电池在终端产品的应用。 3、公司主要从事锂电池储能类产品及其配套产品的研发、 生产及销售， 属于锂电池储能行业。 主力持仓 5、根据2024年年报，公司海外营收占比为95.09%，受益于人民币贬值。 (免 ...

9月23日，华宝新能跌5.2%，截至发稿，报65.96元/股，成交1.05亿元，换手率2.03%，总市值115.02亿 元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，深圳市华宝新能源股份有限公司位于广东省深圳市龙华区民治街道华侨城北站壹号39层，成 立日期2011年7月25日，上市日期2022年9月19日，公司主营业务涉及锂电池储能类产品及其配套产品的 研发、生产及销售。其中，便携储能产品为核心产品。主营业务收入构成为：便携储能产品77.46%， 光伏太阳能板20.84%，其他产品1.37%，其他(补充)0.33%。 责任编辑：小浪快报 南华丰元量化选股混合A（020117）基金经理为黄志钢、康冬。 截至发稿，黄志钢累计任职时间13年188天，现任基金资产总规模5.16亿元，任职期间最佳基金回报 196.59%， 任职期间最差基金回报-28.86%。 康冬累计任职时间2年26天，现任基金资产总规模3.08亿元，任职期间最佳基金回报15.49%， 任职期间 ...

9月15日，华宝新能涨5.04%，截至发稿，报68.80元/股，成交7770.42万元，换手率2.38%，总市值 119.97亿元。 资料显示，深圳市华宝新能源股份有限公司位于广东省深圳市龙华区民治街道华侨城北站壹号39层，成 立日期2011年7月25日，上市日期2022年9月19日，公司主营业务涉及锂电池储能类产品及其配套产品的 研发、生产及销售。其中，便携储能产品为核心产品。主营业务收入构成为：便携储能产品77.46%， 光伏太阳能板20.84%，其他产品1.37%，其他(补充)0.33%。 从基金十大重仓股角度 数据显示，中银基金旗下1只基金重仓华宝新能。中银中证1000指数增强A（019555）二季度持有股数 1.54万股，占基金净值比例为0.72%，位居第八大重仓股。根据测算，今日浮盈赚取约5.07万元。 中银中证1000指数增强A（019555）成立日期2023年12月12日，最新规模8034.01万。今年以来收益 30.43%，同类排名1483/4222；近一年收益71.96%，同类排名1141/3802；成立以来收益54.95%。 中银中证1000指数增强A（019555）基金经理为姚进。 截 ...

Core Viewpoint - The company, Huabao New Energy, has shown significant growth in revenue and profit, driven by its focus on lithium battery storage products and strategic partnerships in the sodium-ion battery sector. Group 1: Company Overview - Huabao New Energy was established on July 25, 2011, and is located in Longhua District, Shenzhen, Guangdong Province [8] - The company specializes in the research, production, and sales of lithium battery storage products, with portable storage products being its core offering [8] - The revenue composition includes 77.46% from portable storage products, 20.84% from photovoltaic solar panels, and 1.37% from other products [8] Group 2: Financial Performance - For the first half of 2025, the company achieved a revenue of 1.637 billion yuan, representing a year-on-year growth of 43.32% [8][9] - The net profit attributable to the parent company was 123 million yuan, showing a year-on-year increase of 68.31% [9] - The company has distributed a total of 378 million yuan in dividends since its A-share listing [10] Group 3: Strategic Developments - On July 11, 2023, the company announced a strategic partnership with Zhongbi New Energy to jointly develop sodium-ion batteries [2] - The company has established a strong supplier network, including Panasonic, LG Chem, and BYD, and has expanded its client base to include Tesla and BMW [2][3] Group 4: Market Position and Trends - The company has a significant overseas revenue share of 95.09%, benefiting from the depreciation of the Chinese yuan [4] - The stock has seen a recent increase of 4.79% with a trading volume of 415 million yuan and a turnover rate of 12.76% [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% against the market benchmark within the next six months [20]. Core Insights - The company reported a revenue of 1.64 billion yuan for the first half of 2025, representing a year-on-year increase of 43%, with a net profit attributable to shareholders of 120 million yuan, up 68% year-on-year [2][8]. - The second quarter saw a revenue of 920 million yuan, a 65% increase year-on-year, but a net profit decrease of 14% compared to the previous year [2][3]. - The gross margin for Q2 was 39.85%, reflecting some dilution due to early shipments influenced by tariffs [3]. Revenue Breakdown - In H1 2025, portable energy storage products generated 1.27 billion yuan in revenue, a 39.2% increase year-on-year, with a gross margin of 41.3% [3]. - Solar panel revenue reached 340 million yuan, up 53% year-on-year, with a gross margin of 44.7% [3]. - North America saw a revenue of 920 million yuan, a 43% increase year-on-year, while Europe experienced a significant growth of 106% with 140 million yuan in revenue [4]. Market Strategy - The company is deepening partnerships with offline retailers, achieving a 55% year-on-year revenue increase from its independent website, which now accounts for 29% of total revenue [5]. - Collaborations with major retailers like Costco and Home Depot have led to product placements in over 10,000 stores, contributing to a 45.85% increase in revenue from offline channels [5]. Product Innovation - The company launched new products such as the DIY balcony energy storage system and a fast-charging outdoor power supply, catering to diverse household electricity needs [5]. Financial Forecast - The profit forecast for 2025-2027 has been adjusted to 290 million, 430 million, and 592 million yuan respectively, with year-on-year growth rates of 21%, 48%, and 38% [6]. - The corresponding price-to-earnings ratios are projected to be 39x, 26x, and 19x for the respective years [6].

Core Viewpoint - Huabao New Energy's revenue growth significantly improved in Q2 2025, with a focus on new product performance and profit elasticity, maintaining a "Buy" rating [1] Revenue Growth by Region - In H1 2025, revenue growth rates by region were as follows: North America +43%, Asia (excluding China) +32%, Europe +106%, and other regions +86% [1] - It is anticipated that Q2 2025 revenue growth in North America, Asia (excluding China), and Europe will improve sequentially compared to Q1 [1] Market Demand and Inventory - The European market is experiencing improved demand following inventory destocking, while North America and the Asia-Pacific markets are expected to see continued market share growth driven by new products [1] Revenue Growth by Channel - In H1 2025, revenue growth rates by channel were: independent websites +55% and offline retail +46%, compared to Q1 growth rates of +42% and +30% respectively [1] Revenue Growth by Product - In H1 2025, revenue growth rates by product were: portable energy storage +39% and photovoltaic solar panels +53% [1] Future Outlook - The company is optimistic about the increase in market share for portable energy storage due to differentiated advantages of new products (extremely portable products) and the gradual contribution of mobile home storage products [1] - Profit margins are expected to marginally recover due to ongoing cost reductions, diminished negative impacts from tariffs, and an increased proportion of new products [1]

Core Viewpoint - Huabao New Energy has shown significant revenue growth in Q2 2025, with a focus on new product performance and profit elasticity, maintaining a "Buy" rating [2]. Revenue Performance - In H1 2025, the company achieved revenue of 920 million yuan, representing a year-on-year increase of 64.9%. However, the net profit attributable to shareholders was 38 million yuan, down 14.41%, and the net profit excluding non-recurring items was 10 million yuan, down 63% [2]. - Revenue growth in different regions for H1 2025 was as follows: North America +43%, Asia (excluding China) +32%, Europe +106%, and other regions +86% [3]. Product and Market Insights - The company expects continued revenue growth driven by new products and an increase in overseas production capacity. The portable energy storage and solar panel segments saw revenue growth of 39% and 53%, respectively, in H1 2025 [3]. - The company anticipates that the share of portable energy storage products will increase, particularly with the gradual contribution of mobile home storage products [3]. Profitability and Cost Structure - The gross margin for Q1 and Q2 2025 was 44.2% and 39.9%, respectively, reflecting a year-on-year decline due to high tariffs impacting costs [4]. - The overall expense ratio showed improvement, with Q2 2025 expenses increasing primarily due to sales and management costs, while financial expenses rose due to decreased interest income [4]. Future Earnings Forecast - The revised profit forecasts for 2025-2027 are as follows: net profit of 384 million yuan in 2025, 596 million yuan in 2026, and 772 million yuan in 2027, with corresponding EPS of 3.08, 4.78, and 6.19 yuan [2]. - The current stock price corresponds to a PE ratio of 19.3 for 2025, 12.4 for 2026, and 9.6 for 2027, indicating potential for growth based on new product launches and market expansion [2].

Core Viewpoint - The company, Huabao New Energy, focuses on lithium battery energy storage and has established strategic partnerships to develop sodium-ion batteries, benefiting from the depreciation of the RMB and expanding its market presence [2][4]. Company Overview - Huabao New Energy, established in 2011, specializes in the research, production, and sales of lithium battery energy storage products, with portable energy storage products as its core offering [8]. - The company's revenue composition includes 77.30% from portable energy storage products, 21.43% from photovoltaic solar panels, and 1.27% from other sources [8]. Financial Performance - For the period from January to March 2025, Huabao New Energy achieved a revenue of 714 million yuan, representing a year-on-year growth of 22.60%, while the net profit attributable to the parent company was 85.07 million yuan, up 193.36% year-on-year [9][10]. Market Position and Clientele - The company has developed a robust supply chain with high-quality suppliers such as Panasonic, LG Chem, and BYD, and has expanded its client base to include notable companies like Tesla and BMW [2][3]. Strategic Developments - On July 11, 2023, the company entered into a strategic partnership with Zhongbi New Energy to jointly develop sodium-ion batteries, leveraging both parties' technological strengths [2]. Shareholder Information - As of March 31, 2025, the number of shareholders decreased by 3.33% to 11,600, with an average of 2,974 circulating shares per person, which increased by 3.44% [8].

Core Viewpoint - The company, Huabao New Energy, has shown significant growth in the lithium battery storage sector, with a focus on sodium-ion battery development and strategic partnerships, benefiting from the depreciation of the RMB. Group 1: Company Overview - Huabao New Energy was established in 2011 and focuses on the research, production, and sales of lithium battery storage products, with portable storage products as the core offering [3][8] - The company has developed a robust supply chain with high-quality suppliers such as Panasonic, LG Chem, and BYD, and has expanded its client base to include notable companies like Tesla and BMW [2][3] Group 2: Financial Performance - For the first quarter of 2025, Huabao New Energy achieved a revenue of 714 million yuan, representing a year-on-year growth of 22.60%, and a net profit of 85.07 million yuan, which is an increase of 193.36% compared to the previous year [9][10] - As of the 2024 annual report, the company's overseas revenue accounted for 95.09% of total revenue, benefiting from the depreciation of the RMB [4] Group 3: Market Activity - On August 15, the stock price of Huabao New Energy increased by 3.96%, with a trading volume of 253 million yuan and a turnover rate of 8.24%, leading to a total market capitalization of 11.127 billion yuan [1] - The average trading cost of the stock is 57.15 yuan, with the stock currently approaching a resistance level of 64.80 yuan, indicating potential for upward movement if this level is surpassed [7]