1-6月，我国动力和其他电池累计出口达127.3GWh，累计同比增长56.8%。合计累计出口占前6月累计销 量19.3%。其中，动力电池累计出口为81.6GWh，占总出口量64.1%，累计同比增长26.5%；其他电池累 计出口量为45.6GWh，占总出口量35.9%，累计同比增长174.6%。 7月10日，中国汽车动力电池产业创新联盟发布2025年6月动力电池月度信息。6月，我国动力和其他电 池合计出口24.4GWh，环比增长27.9%，同比增长22.5%。合计出口占当月销量18.5%。其中，动力电池 出口量为15.8GWh，占总出口量65.0%，环比增长17.1%，同比增长16.6%；其他电池出口量为 8.5GWh，占总出口量35.0%，环比增长54.7%，同比增长35.2%。 ...

销量方面，6月，我国动力和其他电池销量为131.4GWh，环比增长6.3%，同比增长41.7%。其中，动力 电池销量为94.1GWh，占总销量71.6%，环比增长7.6%，同比增长34.9%；其他电池销量为37.4GWh， 占总销量28.4%，环比增长3.4%，同比增长62.5%。1-6月，我国动力和其他电池累计销量为659.0GWh， 累计同比增长63.3%。其中，动力电池累计销量为485.5GWh，占总销量73.7%，累计同比增长51.6%； 其他电池累计销量为173.5GWh，占总销量26.3%，累计同比增长108.5%。 7月10日，中国汽车动力电池产业创新联盟发布2025年6月动力电池月度信息。产量方面，6月，我国动 力和其他电池合计产量为129.2GWh，环比增长4.6%，同比增长51.4%。1-6月，我国动力和其他电池累 计产量为697.3GWh，累计同比增长60.4%。 ...

Core Insights - The Chinese power battery industry is experiencing significant growth, with production and sales figures showing substantial year-on-year increases in June 2023 [1][2][3]. Production Summary - In June 2023, the total production of power and other batteries in China reached 129.2 GWh, representing a month-on-month increase of 4.6% and a year-on-year increase of 51.4% [1]. - From January to June 2023, the cumulative production of power and other batteries was 697.3 GWh, with a year-on-year growth of 60.4% [1]. Sales Summary - In June 2023, the total sales of power and other batteries amounted to 131.4 GWh, marking a month-on-month increase of 6.3% and a year-on-year increase of 41.7% [2]. - Cumulative sales from January to June 2023 reached 659.0 GWh, reflecting a year-on-year growth of 63.3% [2]. Export Summary - In June 2023, the total export of power and other batteries was 24.4 GWh, with a month-on-month increase of 27.9% and a year-on-year increase of 22.5% [2]. - From January to June 2023, cumulative exports reached 127.3 GWh, showing a year-on-year growth of 56.8% [3]. Installation Summary - In June 2023, the installation volume of power batteries was 58.2 GWh, with a month-on-month increase of 1.9% and a year-on-year increase of 35.9% [4]. - Cumulative installation from January to June 2023 was 299.6 GWh, reflecting a year-on-year growth of 47.3% [4].

6月11日，中国汽车动力电池产业创新联盟发布2025年5月动力电池月度信息。产量方面，5月，我国动 力和其他电池合计产量为123.5GWh，环比增长4.4%，同比增长47.9%。1-5月，我国动力和其他电池累 计产量为568.1GWh，累计同比增长62.6%。 销量方面： 5月，我国动力和其他电池销量为123.6GWh，环比增长4.7%，同比增长58.1%。其中，动力电池销量为 87.5GWh，占总销量70.8%，环比增长1.0%，同比增长54.1%;其他电池销量为36.1GWh，占总销量 29.2%，环比增长14.8%，同比增长68.7%。 1-5月，我国动力和其他电池累计销量为527.5GWh，累计同比增长69.8%。其中，动力电池累计销量为 391.4GWh，占总销量74.2%，累计同比增长56.2%;其他电池累计销量为136.1GWh，占总销量25.8%，累 计同比增长126.1%。 5月，我国动力和其他电池合计出口19.0GWh，环比下降14.6%，同比增长23.0%。合计出口占当月销量 15.4%。其中，动力电池出口量为13.5GWh，占总出口量71.1%，环比下降6.3%，同比增长30.0%;其 ...

行业研究 证 券 研 究 报 告 化工行业新材料周报（20250512-20250518） 4 月动力及其他电池同比+49%/环比-0.03%； 推荐（维持） 本周电子级氮气、氧气涨价 基础化工 2025 年 05 月 18 日 华创证券研究所 证券分析师：杨晖 邮箱：yanghui@hcyjs.com 执业编号：S0360522050001 证券分析师：郑轶 邮箱：zhengyi@hcyjs.com 执业编号：S0360522100004 证券分析师：王鲜俐 邮箱：wangxianli@hcyjs.com 执业编号：S0360522080004 证券分析师：吴宇 邮箱：wuyu1@hcyjs.com 执业编号：S0360524010002 证券分析师：申起昊 邮箱：shenqihao@hcyjs.com 执业编号：S0360525030001 联系人：陈俊新 邮箱：chenjunxin@hcyjs.com 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 486 | 0.06 | | 总市值(亿元) | 42,655.61 | 4.31 | | 流通市值( ...

交银国际研究 行业更新 电池行业月报 陈庆 angus.chan@bocomgroup.com (86) 21 6065 3601 李柳晓, PhD, CFA joyce.li@bocomgroup.com (86) 21 6065 3601 估值概要 | 公司名称 | 股票代码 | 评级 | 目标价 | 收盘价 | | -----每股盈利----- | ----市盈率---- | | | ----市账率---- 股息率 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | FY25E | | | FY26E FY25E FY26E FY25E FY26E | | | FY25E | | | | | | (当地货币) (当地货币) (报表货币) (报表货币) | | | (倍) | (倍) | (倍) | (倍) | (%) | | 宁德时代 | 300750 CH | 买入 | 314.11 | 257.00 | 14.358 | 15.517 | 17.9 | 16.6 | 3.8 ...

Core Insights - In April, China's total production of power and other batteries reached 118.2 GWh, a slight decrease of 0.03% month-on-month but a significant increase of 49.0% year-on-year [1] - Cumulatively, from January to April, the total production of power and other batteries was 444.6 GWh, reflecting a year-on-year growth of 67.1% [1] Sales Performance - In April, the total sales of power and other batteries were 118.1 GWh, marking a month-on-month increase of 2.3% and a year-on-year increase of 73.5% [2] - Power battery sales accounted for 86.6 GWh, representing 73.4% of total sales, with a month-on-month decrease of 1.0% and a year-on-year increase of 72.8% [2] - Cumulatively, from January to April, total sales reached 403.9 GWh, with a year-on-year growth of 73.7% [2] Export Data - In April, total exports of power and other batteries were 22.3 GWh, a month-on-month decrease of 2.9% but a year-on-year increase of 64.2% [2] - Cumulatively, from January to April, total exports reached 83.9 GWh, reflecting a year-on-year growth of 83.2% [3] Installation Volume - In April, the installation volume of power batteries was 54.1 GWh, showing a month-on-month decrease of 4.3% but a year-on-year increase of 52.8% [4] - Cumulatively, from January to April, the total installation volume was 184.3 GWh, with a year-on-year growth of 52.8% [4]