在国际市场，随着欧洲去库存周期接近尾声，以及公司营销投入效果显现，海外业绩结构性改善，步入 温和增长通道。公司深化与核心客户的战略合作，并探索新商业模式，挖掘储能价值。家储产品及电芯 获日本JET认证，工商储系统通过IEC62619、UL1973等多重认证，并已实现规模销售。 国内市场方面，公司通过项目开发与产品销售双轨推进，加速储能渗透，应用场景覆盖电网侧、工业园 区、离网储能、5G基站及充电站等多个领域。2025年上半年，新型液冷储能产品在长三角、珠三角及 华中等区域规模化应用，电网侧液冷集装箱实现突破；轻型动力与钠电池产品完成批量交付，加速铅酸 替代。 （文章来源：证券日报） 本报讯 （记者张文湘见习记者占健宇）8月21日晚间，上海派能能源科技股份有限公司（以下简称"派 能科技"）披露2025年半年报。2025年上半年，公司实现产品销售量1328MWh，实现营业收入11.49亿 元，归母净利润达1391.17万元。其中，二季度公司产品销售量达927MWh，环比增长131.17%。 派能科技业绩稳中向好，离不开其持续的技术研发投入和核心市场渗透。中报显示，2025年上半年，公 司研发费用达1.59亿元，占 ...

Investment Rating - The report indicates a positive outlook for the energy storage industry in Europe, particularly for household and industrial storage systems, driven by rising electricity prices and supportive policies [2][7]. Core Insights - European household storage demand is recovering, with significant growth in industrial storage demand due to rising natural gas costs and electricity prices [2][7]. - The report highlights a new cycle of electricity price increases in Europe, which is expected to support household storage demand [7][77]. - The introduction of dynamic pricing is projected to enhance the return on investment for both household and industrial storage systems [7][77]. Summary by Sections 1. European Household Storage Demand Transmission - Rising natural gas costs are driving up electricity prices, which in turn boosts household storage demand [7][16]. - The European electricity market operates on a market-based trading system, with natural gas prices serving as a benchmark for electricity pricing [7][16]. - The report notes that household storage demand indicators are showing signs of recovery, with a significant increase in subsidy applications in Germany [7][60]. 2. European Household/Industrial Storage Demand - The report emphasizes that the average storage ratio for household photovoltaic systems in Europe is around 20%, with significant growth potential in industrial storage [7][68]. - The forecast predicts a compound annual growth rate (CAGR) of 55.73% for industrial storage from 2024 to 2029 [7][68]. - The report also mentions that the cost of household storage systems is decreasing, which is expected to increase penetration rates [7][68]. 3. European Household/Industrial Storage Supply - The report discusses the competitive landscape, noting that Chinese brands are gaining market share in the European household storage market, with over 50% market share expected by 2024 [7][68]. - The report highlights the importance of policy support and the introduction of dynamic pricing in enhancing the economic viability of storage systems [7][68]. - The report concludes that the European energy storage market is poised for significant growth, driven by favorable market conditions and technological advancements [7][68].