一方面是备电侧的UPS加电池场景。传统数据中心就有UPS加电池的架构，电池主要起备电作用，比如 突然断电或维修。此外，也在柴油发电机组启动前支撑供电，确保数据中心不中断运行。 大模型训练、推理规模扩大，GPU算力指数级提升，算力中心建设加速，超算、智算中心密集落地。 业内多次提出，算力的尽头是电力。在此背景下，AIDC配储场景正在全球市场加速渗透。 第三方数据显示，2025年至2030年，全球AIDC备用电池市场年复合增长率预计将高达80%。至2030 年，全球AIDC与通用IDC备用电池市场规模有望突破100GWh。而绿电直供模式配套的新型储能整体市 场规模将超300GWh。 AIDC配储与传统IDC备电有何区别?AIDC配储电池和供电架构有哪些新变化?中国企业何以撬动全球 AIDC配储市场?《21新能说》栏目特邀南都电源副总裁刘成浩，围绕AIDC配储的前沿技术、市场观察 与企业发展等核心议题深度解析，为理解算力时代的能源底座提供一线视角。 21世纪经济报道：当前资本市场火热的AIDC配储概念，这与过去的数据中心配储、电力配储在技术重 心上有什么区别? 刘成浩：首先，AIDC的发展核心是算力大幅增加，而算力 ...

Core Viewpoint - The company, Sungrow Power Supply Co., Ltd. (阳光电源), has achieved a significant market capitalization increase, reaching nearly 400 billion yuan, driven by strong performance in both revenue and profit despite challenges in the photovoltaic sector [1][3]. Financial Performance - In the first three quarters of 2025, the company reported revenue of 66.402 billion yuan, a year-on-year increase of 32.95%, and a net profit attributable to shareholders of 11.881 billion yuan, up 56.34% [3]. - The third quarter alone saw revenue of 22.869 billion yuan, a 20.83% increase year-on-year, with net profit reaching 4.147 billion yuan, marking a 57.04% increase [3]. - Operating cash flow significantly improved, with a net cash flow from operating activities of 9.914 billion yuan, reflecting a growth of over ten times year-on-year [4]. Inventory and Receivables Management - The company has enhanced its customer credit management and collection efficiency, leading to a reduction in accounts receivable by 4.6 billion yuan since the beginning of the year [4]. - The total provision for credit and asset impairment was 1.28 billion yuan, impacting current profits, with inventory write-downs accounting for 84.8% of the total impairment [5]. Business Segment Growth - The company is shifting its growth focus towards energy storage, with energy storage shipments increasing by 70% year-on-year, aligning with market installation growth [6]. - The revenue from photovoltaic inverters grew by approximately 6% year-on-year, with an increase in gross margin due to a change in market structure [6]. Market Dynamics - The global lithium battery storage installation exceeded 170 GWh in the first three quarters of 2025, reflecting a year-on-year growth of 68% [7]. - The company has seen a significant increase in overseas shipments, with the proportion of overseas shipments in energy storage rising from 63% to 83% year-on-year [6]. Future Outlook - The U.S. market presents potential uncertainties for the company, with a reported market share increase to 12% in North America [8]. - The European market is expected to be a key growth driver, with projections indicating a 50% growth rate over the next three years [9]. - The company is also focusing on the AIDC (Artificial Intelligence Data Center) storage market, anticipating small-scale deliveries by 2026 [10].

Core Viewpoint - The company, Sunshine Power, has achieved a remarkable market capitalization leap from 300 billion to 400 billion CNY within two months, reflecting strong performance in the photovoltaic and energy storage sectors [1][3]. Financial Performance - In the first three quarters of 2025, Sunshine Power reported revenue of 66.402 billion CNY, a year-on-year increase of 32.95%, and a net profit attributable to shareholders of 11.881 billion CNY, up 56.34% [5]. - The third quarter alone saw revenue of 22.869 billion CNY, a 20.83% increase year-on-year, with net profit reaching 4.147 billion CNY, marking a 57.04% increase [5][6]. - Operating cash flow significantly improved, with a net cash flow from operating activities of 9.914 billion CNY, reflecting a growth of over ten times year-on-year [6]. Inventory and Credit Management - The company has made provisions for credit and asset impairments totaling 1.280 billion CNY, impacting current profits, with inventory write-downs accounting for 84.8% of total asset impairments [7]. - The reduction in accounts receivable by 4.6 billion CNY compared to the beginning of the year indicates enhanced cash flow recovery capabilities [6]. Business Segments - Sunshine Power's growth focus has shifted towards energy storage, with energy storage shipments increasing by 70% year-on-year, while photovoltaic inverter revenue grew by approximately 6% [9][10]. - The share of overseas shipments in energy storage has risen from 63% to 83% year-on-year, contributing to stable profit margins [10]. Market Trends - The global lithium battery storage market has seen significant growth, with a 68% year-on-year increase in installations, driven by both domestic and international demand [11]. - The company has increased its market share in North America to 12%, with overseas revenue reaching 25.379 billion CNY, a growth of 88.32% year-on-year, accounting for 58.30% of total revenue [12]. Future Growth Drivers - The European market is expected to be a key growth driver, with projections of a 50% growth rate over the next three years due to the rise of dynamic electricity pricing in countries like Germany [14]. - Sunshine Power is also positioning itself for future growth in data center power demand, with plans to deliver customized energy storage solutions by 2026 [15].