来源：新浪财经 日前，汇川技术宣布正在筹划发行H股并在香港联交所上市。这家国内工业自动化龙头正试图通过资本 市场获取新弹药，以支持其在新兴领域的扩张计划。 汇川技术目前业务主要分为四大板块：通用自动化、新能源汽车、智慧电梯、轨道交通。值得注意的 是，汇川技术近年来在储能领域持续加码。 2025年5月，董事长朱兴明高调宣布全面重返储能赛道，并迅速展开行动：8月全球首发液冷430kW组串 式PCS、3.5MW大功率集中式PCS等重磅产品；11月西安储能基地投产，总投资10亿元，年设计产能 50GW，成为全球储能PCS单体工厂第一梯队。 不过，储能行业正经历前所未有的价格寒冬。根据CNESA数据，2025年1-6月，国内0.5C磷酸铁锂储能 系统中标均价为558.28元/kWh，同比下降27%。 更令人担忧的是，0.25C储能系统中标均价为448.31元/kWh，同比下降幅度高达69%。这一数据远超过 用户描述的"电力储能系统价格下降约25%，工商业储能系统价格下降近35%"，表明价格战激烈程度可 能超出预期。 宁德时代创始人曾毓群在2025年9月指出，近三年间我国储能系统价格下降了约八成，近期某些集采项 目中标价 ...

储能要成为"第三条增长曲线"， 但目前仍归属"其他"类目。 ©图源｜汇川技术 文｜王璟 编辑｜杨倩 来源｜太瓦储能 2026年1月19日，汇川技术（300124.SZ）公告拟筹划发行H股并在港交所上市。 公告透露，目前相关方案尚在论证中，后续需经董事会、股东大会审议及境内外监管机构批准，存在不确定性。 此举被市场广泛视为汇川技术推进国际化战略、构建"A+H"双融资平台的关键一步。 2025年9月，该公司成功分拆子公司联合动力(301656.SZ)在深交所上市，这一新能源汽车电驱制造商的市值迅速涨至近700亿元。仅数月后，又启动港股 IPO计划，意图借助国际资本市场拓宽融资渠道、提升全球品牌影响力。 这一系列资本动作，勾勒出实控人朱兴明的战略雄心。 朱兴明曾表示："汇川技术的性格不是做第一，而要做绝对第一，汇川技术人要把第一变成习惯。"绝对第一即市占率超过50%的断崖式领先。 1967年出生于湖南岳阳的他，自幼对科研抱有浓厚兴趣，早年以专业第一的成绩保送进入燕山大学无线电专业攻读研究生。 职业生涯初期，他在深圳华能控制系统有限公司担任技术员，后加入华为电气，自此打上"华为系"创业者的烙印。 2001年底，华为" ...

Core Viewpoint - The article discusses the strategic evolution and growth of Huichuan Technology, highlighting its transition from a domestic manufacturer to a significant player in the international market, particularly in the fields of industrial automation and new energy vehicles [2][10][14]. Company Background - Huichuan Technology was founded in 2003 by Zhu Xingming and former employees of Huawei Electric after its sale to Emerson [1]. - The company has grown to a market capitalization of 200 billion RMB, becoming a "white horse stock" that attracts significant attention in the capital market [2]. Business Strategy - Zhu Xingming emphasizes the dangers of a low-price market strategy, which can harm profits and innovation capabilities. Huichuan has closed several low-margin businesses to focus on strategic growth [3]. - The company has a strong profitability profile, with projected revenues of nearly 46 billion RMB and a net profit of 5.5 billion RMB by 2025 [3]. Internationalization Efforts - Huichuan Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its internationalization strategy and diversify financing channels [3][14]. - The company is currently in discussions with intermediaries regarding the details of the H-share issuance [3]. Product Development and Market Position - Huichuan's initial product was a frequency converter, which has evolved to dominate the domestic market, competing with international brands like ABB and Siemens [6][7]. - The company has expanded its product line to include servo systems, PLCs, and components for new energy vehicles, achieving a market share of 15.9% in servo motors [7][9]. Financial Performance - For the first three quarters of 2025, Huichuan reported revenues of 31.66 billion RMB, a year-on-year increase of 24.67%, and a net profit of 4.25 billion RMB, up 26.84% [10]. - Despite strong performance, challenges include slowing growth in core industrial control segments and rising raw material costs, prompting a price increase for some products starting January 2026 [10][11]. Future Directions - Huichuan plans to enter the humanoid robotics and energy storage sectors by 2025, having already developed key components for humanoid robots and ranked third in the domestic market for energy storage inverters [12][13]. - The company aims to enhance its international presence and brand image while developing solutions for energy transition, focusing on both domestic and overseas markets [14].