Core Viewpoint - Gotion High-Tech is strategically entering the small power battery market, aiming to create a third growth engine by focusing on technological innovation and product upgrades in collaboration with Hefei Lujiang High-tech Zone [2][3]. Group 1: Market Expansion - Gotion High-Tech's subsidiary, Hefei Gotion Jitai Battery Technology Co., is the key player in the small power battery strategy, targeting applications in electric two-wheelers, three-wheelers, low-altitude aircraft, electric ships, and construction machinery [4]. - The electric two-wheeler market in China has over 400 million units, with a lithium battery penetration rate below 10%, indicating a potential market worth hundreds of billions due to the "lead-acid to lithium" technology shift [4]. - The daily electricity consumption of new energy vehicles in China is only 3.3 billion kWh, representing 1.2% of the national average, suggesting significant market potential for energy storage lithium batteries [4]. Group 2: Battery Market Data - In 2024, the shipment volume of lithium batteries for electric two-wheelers in China is projected to be 9.3 GWh, a year-on-year increase of 4.5%, with expectations to reach 10.1 GWh in 2025, growing by 8.6% [5]. - The shipment volume for electric three-wheeler batteries is expected to reach 0.9 GWh in 2024, a 28.6% increase, with projections of 9.4 GWh by 2030 [5]. - The shipment volume for lithium batteries in electric tools is anticipated to be 22.1 GWh in 2024, growing by 18.2%, and 24.6 GWh in 2025, an 11.3% increase [5]. Group 3: Technological Advancements - Gotion High-Tech has developed a comprehensive product matrix covering various battery types, including square, cylindrical, soft-pack, and technologies such as lithium iron phosphate, ternary, manganese iron phosphate, sodium batteries, and solid-state batteries [7]. - The company has previously partnered with Didi Chuxing to enter the shared electric bicycle market, utilizing large cylindrical batteries, which currently have a penetration rate of about 45% in the two-wheeler lithium battery market [7]. Group 4: Financial Performance - In 2024, Gotion High-Tech's total shipment volume is estimated at 63 GWh, with energy storage shipments reaching 22.05 GWh, a 200% year-on-year increase [8]. - The company's revenue for 2024 is projected to reach 35.392 billion yuan, an 11.98% increase year-on-year, with net profit attributable to shareholders at 1.207 billion yuan, up 28.56% [8]. - The revenue from the power battery business is expected to be 25.648 billion yuan, accounting for 72.47% of total revenue, while energy storage battery revenue is projected at 7.832 billion yuan, making up 22.13% of total revenue [8]. Group 5: Investment and Infrastructure - Gotion High-Tech has invested significantly in Hefei, with plans for over 80 GWh of production capacity and hundreds of billions in investment to establish a comprehensive new energy industry chain [15]. - The company has established a complete new energy industry chain in Lujiang, with projects ranging from lithium iron phosphate to high-nickel ternary battery materials and battery recycling [12][14]. - Gotion High-Tech is also collaborating with Jin Jing New Energy to build a battery recycling and after-sales service system, planning to establish 100 service outlets globally [13].

2024年，各类圆柱电池出货量显著增长。据起点研究院(SPIR)统计，2024年1-9月全球圆柱电池出货量达到115亿只，预计全年将达145亿只， 同比增长超11.9%，其中32/40/46系等大圆柱电池增速超50%。 在两轮车领域 ，实际上，早在2020年，国轩高科就与滴滴出行签订战略合作协议，大规模入局共享电单车领域，采用的就是32系列圆柱电池。 2024年以来，一系列提升电动自行车安全性的政策密集出台，如锂电池国强标修订、3C认证、企业白名单等。随着电动自行车安全隐患全链条 整治在全国范围内启动，电动自行车行业合规发展已是大势所趋，将极大地刺激两轮车锂电市场快速发展，两轮车锂电市场即将迎来新一轮发 展机遇。 其中前三季度，40系列圆柱电池出货0.55亿只，同比增长90%，32系列圆柱电池出货0.8亿只，同比增长14.29%，其他包括26系列、46系列、 60系列、66系圆柱电池出货3.92亿只，同比增长70.4%。 主要应用场景为两轮车、三轮车、共享换电、便携式电源、户用储能等市场。 近日，起点圆柱电池寻访团走进国轩高科，与 国轩高科中国业务副总裁徐兴无 就大圆柱相关话题进行深度交流。 作为坚定的"圆柱 ...