Core Viewpoint - The company, Nandu Power (300068), emphasizes the advantages of its lithium batteries for data centers, specifically highlighting the superiority of iron-lithium technology over ternary technology in terms of safety and cycle life [1] Group 1: Technology Comparison - The company's lithium batteries utilize iron-lithium technology, while competitors like Samsung and LG use ternary technology [1] - Iron-lithium technology is noted to have better safety and cycle life compared to ternary technology [1] Group 2: Certifications and Applications - The company's high-voltage lithium products have received major certifications in the U.S., including UL9540A and UL1973 [1] - These products are widely used in major data center projects across the United States [1]

Core Viewpoint - The company, Nandu Power (300068.SZ), emphasizes the advantages of its lithium batteries for data centers, particularly highlighting the safety and cycle life of its iron-lithium technology compared to the ternary technology used by competitors like Samsung and LG [1]. Group 1: Product Technology - The company's lithium battery for data centers utilizes iron-lithium technology, which is noted for its superior safety and cycle life compared to ternary technology [1]. - The high-voltage lithium products have received major certifications in the U.S., including UL9540A and 1973, and are widely used in various data center projects across the U.S. [1]. Group 2: Market Position and Competitiveness - The company is responding to investor inquiries regarding its competitive advantages in the North American data center market, particularly concerning its semi-solid lithium backup power products [3]. - There is a focus on the company's ability to provide solid-state products in light of significant fire incidents in foreign data centers, indicating a potential market demand for safer alternatives [3].

Core Insights - Zhejiang Nandu Power Supply Co., Ltd. engaged in an in-depth discussion with 15 institutions regarding its business operations, product features, market layout, and future plans on September 10, 2025 [1][2]. Company Overview - Nandu Power has 30 years of experience in energy storage, starting from communication storage and now focusing on energy storage applications, providing lithium-ion and lead-acid battery-based systematic products, solutions, and operational services [3]. - The company covers various sectors including new power storage, communication and data center storage, and residential storage, while also engaging in integrated recycling of environmentally friendly resources [3]. - Since initiating its internationalization in 2005, Nandu Power has expanded its business to over 160 countries and regions, supported by a professional team and spare parts warehousing [3]. - The company emphasizes technological innovation with multiple advanced R&D platforms, achieving full-stack self-research [3]. - A strategic transformation began in 2020, expected to be completed by the end of 2024, aiming for significant improvement in operational quality [3]. Key Business Data and Product Differentiation - In the first half of the year, revenue from North American data center backup batteries was approximately 300 million yuan, with a gross margin of about 35% [4]. - Nandu's lithium batteries utilize iron-lithium technology, which outperforms competitors' ternary technology in safety and cycle life [4]. - High-voltage lithium batteries for data centers focus on short-term backup with high charge and discharge capabilities, while base station lithium batteries emphasize long-term energy storage [4]. Data Center Business Layout and Expectations - Nandu Power has established partnerships with several leading companies, leveraging its self-developed technology and rich experience [5]. - Current lithium battery production capacity for data centers is 1.5 GWh, with plans to expand by 1 GWh to reach 2.5 GWh next year, and the company has rapid expansion capabilities [5]. - The company anticipates a doubling of revenue from data center lithium batteries next year, with high-voltage lithium products expected to maintain gross margins despite potential price reductions, as overseas customers are less sensitive to price changes [5]. Energy Storage Order Situation - The overseas large-scale energy storage market is expanding rapidly, with Nandu Power currently holding approximately 7.8 GWh of unfulfilled orders, including about 5 GWh domestically and 2.8 GWh internationally [6]. - The overseas orders primarily come from Australia, Europe, and the UK, with 2.8 GWh of independent energy storage project orders expected to deliver 1.2 GWh this year and 1.6 GWh next year [6]. Global Data Center Market Outlook - Nandu Power expects the demand for backup batteries in North American data centers to reach approximately 20 GWh next year, with a global demand of about 30 GWh [7]. - With the explosive growth in computing power demand, data center construction needs are projected to more than double in the coming years [7]. - The company plans to adopt a "technology research + market expansion" dual-driven model, focusing on lithium batteries to advance its business through differentiated competition [7].

Battery - CATL exits the Finnish battery project, selling its 20.6% stake in Valmet Automotive to the Finnish government and Pontos, with the government injecting approximately €35 million into Valmet, resulting in a 79% ownership stake [2] - Huineng Technology announces collaboration with CEA-Liten to develop a modular, detachable solid-state battery that allows for individual cell replacement, aiming to reduce waste and maintenance costs, with a showcase planned for the 2025 Munich Motor Show [3] - Guangdong Jinseng New Energy submits a listing application to the Hong Kong Stock Exchange, focusing on the recycling of mainstream battery systems, including ternary lithium and lithium iron phosphate batteries, establishing a vertically integrated business model [5] Materials - Jiuwu High-Tech wins a bid for a lithium extraction project in the Lop Nur salt lake, with a contract value of 81.5 million yuan, which is expected to enhance the company's market share and performance in the lithium extraction sector [7] Overseas - SK On signs a supply agreement with Flatiron Energy for lithium iron phosphate batteries for energy storage systems, planning to supply up to 7.2 GWh of batteries from 2026 to 2030 [9] - SK On plans to convert part of its electric vehicle battery production line in Georgia, USA, to produce batteries for energy storage systems, with mass production expected to start in the second half of next year [11] - Volkswagen announces a reduction in production of its ID.4 electric SUV in the US due to lower-than-expected sales, indicating a need for manufacturers to adjust production plans in a competitive EV market [12] - Toyota announces plans to produce a pure electric vehicle model in its Czech Republic factory, marking its first local production of an all-electric model in Europe, with the Czech government investing up to €64 million in a new battery assembly facility [14]

Core Viewpoint - The article emphasizes the investment value of significant events in the semiconductor and AI server industries, highlighting companies that are breaking foreign monopolies and advancing battery technologies for data centers [1]. Group 1: Semiconductor and AI Servers - A company has developed crystal materials that have broken foreign monopolies and its products are now used in AI server power supply [1]. Group 2: Solid-State Batteries and Data Centers - Another company has mastered all-solid-state and semi-solid-state battery technologies, established a pilot production line, and achieved small batch deliveries; its high-voltage lithium battery products are widely used in data centers in the United States [1].