Group 1: Legal Issues and IPO Challenges - The IPO process of Haicheng Energy is overshadowed by a lawsuit from CATL, with core executives facing compulsory measures [1][4][5] - The lawsuit, initiated by CATL, includes allegations of commercial secret infringement and unfair competition, directly impacting Haicheng's IPO timeline [4][6][10] - The legal disputes stem from talent and technology competition, with claims of non-compete violations and technology infringement [5][7][10] Group 2: Financial Performance and Risks - Haicheng Energy reported significant revenue growth, with projected revenues of 129 billion RMB in 2024, but actual profitability is heavily reliant on government subsidies [2][14] - The company achieved a net profit of 288 million RMB in 2024, but excluding 4.14 billion RMB in government subsidies, it remains in a loss position [2][14] - The asset-liability ratio stands at 73.1%, indicating high financial leverage compared to peers [14][15] Group 3: Accounts Receivable and Cash Flow Concerns - Accounts receivable surged to 8.3 billion RMB in 2024, representing 64% of total revenue, with a dramatic increase in collection days from 12 to 186 [2][17][18] - The company faces significant cash flow pressure due to the extended collection period and rising bad debt provisions, which increased from 1.8 million RMB in 2022 to 660 million RMB in 2024 [17][18] Group 4: Overseas Business and Customer Concentration Risks - Haicheng's overseas business has seen rapid growth, with revenues increasing from 30,000 RMB in 2022 to 3.7 billion RMB in 2024, but it is highly dependent on two major US clients [2][20] - The potential bankruptcy of a key client, Powin, poses a significant risk, with unfulfilled orders valued at approximately 1.5 billion RMB [20][22] - The geopolitical landscape and policy changes in the US could further impact Haicheng's overseas operations and profitability [23]

Core Viewpoint - The company has issued a formal statement addressing recent rumors and misinformation circulating online, clarifying various allegations and asserting its commitment to legal rights and business integrity [3][5][7]. Group 1: Clarifications on Allegations - The company refutes claims regarding a "commercial secret infringement" involving a technology that has been deemed public knowledge, asserting that it has not utilized this technology in any products [3]. - The company corrects misinformation about the age of its chairman's spouse, stating the accurate birth year is 1991, not 1964 [4]. - The company clarifies that its collaboration with the U.S. energy integrator Powin has not reached a scale of delivery, and it is not listed as a creditor in Powin's bankruptcy filing, indicating no adverse impact on its operations [5]. Group 2: Product and Legal Matters - The company defends its 587Ah battery cell against claims of similarity to a competitor's product, emphasizing that it is a fully self-developed product based on its previously released energy storage cell [6]. - The company addresses a civil lawsuit regarding unfair competition, stating that no legal documents have confirmed any wrongdoing, and it plans to defend its rights through legal channels [7]. - The company expresses strong condemnation of the malicious fabrication and dissemination of false information, urging the public to refrain from spreading rumors and to maintain a fair competitive environment [7].

Core Viewpoint - Xiamen Haicheng Energy Storage Technology Co., Ltd. issued a strong statement to clarify recent rumors and misinformation, highlighting the importance of collaboration over competition in the industry [1][2][9] Group 1: Company Clarifications - Haicheng Energy Storage clarified five key issues in its statement, including allegations of commercial secret infringement, the age of the chairman's spouse, the bankruptcy of its largest U.S. customer, and disputes over the 587Ah battery cell [2][4] - The company strongly condemned the malicious fabrication and dissemination of false information [2] - Haicheng emphasized that the 587Ah battery cell is a product of its own independent research and development, created based on its previously released long-duration energy storage cell [5][4] Group 2: Industry Context - The competition in the large-capacity energy storage battery market has reached a "three-way standoff," with major players like CATL, Ruipu Lanjun, and Sungrow all vying for market dominance [5] - CATL has maintained a leading position in global energy storage cell shipments for four consecutive years, with a projected market share of 36.5% in 2024 [5] - The ongoing disputes and lawsuits between Haicheng and CATL reflect the intensifying competition and the critical importance of intellectual property in the industry [7][8] Group 3: Legal and Operational Challenges - Haicheng is currently facing legal challenges, including a lawsuit from CATL regarding alleged unfair competition, which is set to be heard in August [4][8] - The company has stated that its collaboration with U.S. energy storage integrator Powin has not yet reached the scale of delivery, and it is not listed as a creditor in Powin's bankruptcy filing [6][8] - The outcome of the ongoing legal disputes is crucial for Haicheng, especially as it seeks to proceed with its IPO application on the Hong Kong Stock Exchange [8]

Group 1 - The president of Haicheng Energy, Feng Dengkai, has been reported for allegedly infringing on trade secrets and has been taken into custody by the police in Ningde, Fujian [1][3] - Haicheng Energy issued a statement claiming that the technology in question, "composite electrolyte technology," is publicly known and does not constitute a trade secret, asserting that the dispute will not adversely affect its operations [3][4] - The company clarified that it has not used the disputed technology in any products and is providing support to Feng Dengkai and his family during the ongoing investigation [3][4] Group 2 - The company addressed rumors regarding its chairman's spouse's age and the bankruptcy of its major U.S. customer, Powin, stating that these claims are false and that the bankruptcy will not impact its operations [3][4] - Haicheng Energy's 587Ah battery cell is claimed to be fully self-developed and not in violation of any competition laws, with no legal documents confirming any unfair competition claims against the company [4][5] - The company has been involved in ongoing disputes with Ningde Times, including a civil lawsuit filed by Ningde Times for unfair competition, with a court hearing scheduled for August 12 [4][5] Group 3 - Founded in 2019, Haicheng Energy focuses on providing energy storage battery solutions and has rapidly developed into the third-largest energy storage battery company globally by shipment volume [5][6] - The company is currently in the process of listing on the Hong Kong Stock Exchange, with projected revenue of 12.917 billion yuan and an adjusted net profit of 318 million yuan for 2024 [5][6] - The chairman, Wu Zuyu, and several executives have backgrounds in Ningde Times, but this has not led to a positive relationship, as disputes have arisen over competition and employment agreements [6]

8月4日深夜，海辰储能科技股份有限公司（以下简称海辰储能）发表严正声明称，针对近日涉及公司的 五大争议事项予以声明，包括与冯先生相关的"商业秘密侵权"事件、"美国第一大客户破产"及"15亿订 单蒸发"、不正当竞争诉讼等。 上述冯先生系冯登科。据悉，因涉嫌侵犯商业秘密，冯登科已被福建省宁德市警方依法采取强制措施， 报案人是宁德时代。 回应"商业秘密侵权"事件 否认不正当竞争 海辰储能声明称，针对与冯登科相关的"商业秘密侵权"事件，网传涉案"复合集流体技术"经专业的第三 方鉴定，该技术为公众所知悉不具有秘密性，因此不构成商业秘密。 据悉，与冯登科相关的"商业秘密侵权"事件，与专利侵权相关。专利信息显示，2019年成立的深圳市海 鸿新能源技术有限公司，在2022年将多项"集流体"相关专利转让给海辰储能，后者在完成专利转让后于 2023年注销。 此次专利转让的异常行为，让宁德时代产生怀疑，顺势查出冯登科或涉嫌侵犯商业秘密。 2017年，冯登科从宁德时代离职后，入职宁德时代的供应商金美新材。彼时，金美新材获得宁德时代的 复合集流体代工项目，由金美新材、福建新嵛、许彩霞三方执行。该项目结束后，冯登科加入海辰储 能。 "目 ...

Core Viewpoint - The company, Hai Chen Energy, issued a statement addressing recent online rumors and misinformation, asserting that the claims made are significantly inaccurate and do not affect its operations [1]. Group 1: Response to Rumors - The company clarified that the "composite electrolyte technology" related to Mr. Feng's "trade secret infringement" case is publicly known and does not constitute a trade secret, thus not impacting the company's operations [1]. - The company has not utilized the disputed technology in any of its products, and the ongoing investigation will not adversely affect its production and operations [1]. Group 2: Product Development - The company refuted claims that its 587Ah battery cell is similar to a competitor's product, stating that it is a fully self-developed product based on its previously released long-duration energy storage cell [5]. - The 587Ah battery cell was specifically designed for a 2-hour scenario requirement, showcasing the company's innovation in energy storage technology [5]. Group 3: Legal Matters - The company stated that there are no effective legal documents recognizing it as engaging in unfair competition in the ongoing civil lawsuit, emphasizing that the claims are solely the plaintiff's viewpoint [6]. - The company intends to defend its legal rights vigorously and condemns the malicious fabrication and dissemination of false information [6].

Core Viewpoint - Haicheng Energy issued a formal statement addressing five major controversies, including allegations of "trade secret infringement," the bankruptcy of its largest U.S. customer, and a lawsuit for unfair competition [1] Group 1: Trade Secret Infringement - The company denied the allegations of trade secret infringement related to Mr. Feng, stating that the "composite electrolyte technology" in question is publicly known and does not constitute a trade secret [6][7] - The controversy involves a patent transfer from Shenzhen Haihong New Energy Technology Co., which transferred multiple "electrolyte" related patents to Haicheng Energy in 2022 [6][7] - The company asserted that it has not used the "composite electrolyte technology" in any of its products, and the ongoing investigation will not adversely affect its operations [7] Group 2: Lawsuit for Unfair Competition - Haicheng Energy is currently facing a lawsuit from CATL for unfair competition, with the case filed in the Ningde Intermediate People's Court, set to be heard on August 12 [8] - The company emphasized that there has been no legal ruling confirming any unfair competition on its part, and the claims made by the plaintiff do not represent judicial recognition of the facts [7] Group 3: Customer Bankruptcy and Order Impact - The company addressed rumors regarding the bankruptcy of its largest U.S. customer, Powin, and the alleged evaporation of a 1.5 billion yuan order, clarifying that it has no unresolved debts with Powin [10][11] - The bankruptcy filing of Powin does not pose a negative impact on the company's operations [12] Group 4: Product Development and Competition - Haicheng Energy refuted claims that its 587Ah battery cell is highly similar to a competitor's product, asserting that its product is independently developed based on specific requirements [13] - The company highlighted that its 587Ah battery cell was first released in 2023, distinguishing it from competitors [13]

Core Viewpoint - The article discusses the recent controversies surrounding Haitian Energy Technology Co., Ltd., including allegations of "trade secret infringement," the bankruptcy of its major U.S. client, and lawsuits regarding unfair competition [2][5]. Group 1: Trade Secret Infringement - Haitian Energy denies the allegations of trade secret infringement related to the "composite electrolyte technology," asserting that it is publicly known and does not constitute a trade secret [7][8]. - The controversy involves Feng Dengkai, who has been taken into custody by police for allegedly infringing on trade secrets, with the complainant being CATL [5][8]. - The company claims it has not used the disputed technology in any of its products, and the ongoing investigation will not adversely affect its operations [8][9]. Group 2: Bankruptcy of Major Client - The company refutes rumors regarding the bankruptcy of its largest U.S. client, Powin, stating that it is not listed among Powin's creditors and that the bankruptcy will not impact its operations [10][11]. - The company emphasizes that its collaboration with Powin has not yet reached a scale of delivery, thus mitigating potential risks from the client's financial issues [10][11]. Group 3: Unfair Competition Lawsuit - Haitian Energy is currently facing a lawsuit for unfair competition initiated by CATL, with the case filed in the Ningde Intermediate People's Court [9]. - The company asserts that there are no legal documents confirming its involvement in unfair competition, and the claims made by the plaintiff do not reflect judicial recognition of the facts [8][9]. Group 4: Product Development and Market Position - The company defends its 587Ah battery cell, claiming it is a fully self-developed product and not similar to competitors' offerings, despite claims of high similarity [11]. - Haitian Energy's market position is notable, with a valuation exceeding 25 billion yuan, ranking third in the global energy storage market [5].

Core Viewpoint - The company, Haicheng Energy Storage Technology Co., Ltd., has issued a statement addressing various rumors and misinformation circulating online, asserting that these claims are false and defending its business practices and reputation [1][2][3]. Group 1: Commercial Secret Infringement - The company refutes claims regarding a "commercial secret infringement" related to the "composite electrolyte technology," stating that a third-party assessment confirmed the technology is publicly known and does not constitute a trade secret [3][4]. - The company has not utilized this technology in any of its products, and the ongoing investigation will not adversely affect its operations [3]. Group 2: Personal Information Misrepresentation - The company clarifies misinformation regarding the age of the chairman's spouse, asserting that the claim of her being born in 1964 is false; her actual birth year is 1991 [4]. Group 3: Customer Bankruptcy and Order Impact - The company addresses rumors about its largest U.S. customer, Powin, filing for bankruptcy and the alleged loss of a $1.5 billion order, stating that their collaboration has not reached a scale of delivery and there are no outstanding debts between the two parties [5][6]. - The bankruptcy filing does not list the company as a creditor, indicating no negative impact on its operations [5]. Group 4: Product Development Claims - The company disputes claims that its 587Ah battery cell is similar to a competitor's product, emphasizing that its 587Ah cell is based on its own 2023 innovation and is designed for specific two-hour scenarios [6]. Group 5: Unfair Competition Lawsuit - The company responds to allegations of unfair competition, stating that no legal documents have confirmed any wrongdoing on its part, and the claims are merely the plaintiff's perspective [7]. - The company intends to defend its rights through legal channels and condemns the malicious spread of false information [7][9].