华宝新能（301327）11月26日晚间公告，公司与专业投资机构全景蓝图资本共同设立厦门全景蓝图创投 基金，以3000万元自有资金作为有限合伙人出资，专项投资于汽车零部件龙头企业广东正扬传感科技股 份有限公司（简称"正扬科技"）。此举标志着华宝新能在巩固C端全球领先地位的基础上，正式发力新 能源汽车B端市场，开启"C+B"双轮驱动的全新发展阶段。 据了解，深耕便携储能领域14年的华宝新能，已凭借Jackery电小二品牌构建起覆盖50多个国家和地区 的C端渠道，累计销量突破600万台，全球累计布局专利2248项。 华宝新能表示，此次投资并非跨界冒进，而是基于自身战略升级的必然选择。借助正扬科技的主机厂资 源，将绿色能源解决方案从消费端延伸至商用车、工程机械等B端领域，开辟新的增长曲线。同时依托 正扬科技的海外生产基地与客户网络，进一步完善华宝新能在欧美、东南亚的本地化布局，提升全球市 场响应效率。华宝新能表示，未来随着基金的正式运作与双方协同的深化，公司有望在新能源汽车产业 开辟更广阔的增长空间。 作为本次基金的核心投资标的，正扬科技是国内尿素传感器领域的"隐形冠军"——连续九年国内市场占 有率超50%，拥有超 ...

Core Insights - The article highlights the emergence and growth of portable energy storage devices, particularly focusing on the company Jackery, which has successfully established itself as a leader in this new category, initially created by Chinese company Huabao New Energy [1][4][5]. Group 1: Market Opportunity - The portable energy storage market was identified as a gap, particularly for outdoor enthusiasts and emergency power needs, with traditional solutions being inadequate [4][5]. - Jackery's products cater to a growing demographic of outdoor enthusiasts, with data indicating that by 2024, there will be 15 million RVs in the U.S. and nearly 50 million people participating in camping activities annually [4]. Group 2: Product Development - Jackery's first product, the Explorer series, was designed for outdoor use, with capacities ranging from 200W to 3000W, addressing various outdoor power needs [5]. - The introduction of the Solar Saga series in 2018 allowed Jackery to enhance its product offerings by integrating solar charging capabilities, transforming portable storage from an emergency tool to a sustainable lifestyle choice [5]. Group 3: Marketing Strategy - Jackery employs a three-pronged marketing strategy: "mind share capture," "continuous reinforcement," and "value support," effectively positioning itself in the minds of consumers as the go-to brand for outdoor and emergency power needs [2][9][12]. - Collaborations with outdoor influencers and the presence in major retail chains like Costco and Walmart have helped Jackery enhance brand visibility and consumer engagement [2][12]. Group 4: Global Expansion - Jackery has successfully expanded into the Japanese market, where the demand for emergency power solutions is high due to frequent natural disasters, making its products essential for households [7]. - The company is also experiencing rapid growth in Europe, where environmental consciousness drives demand for low-carbon and pollution-free products, aligning with Jackery's brand values [7]. Group 5: Innovation and Customization - Jackery is focused on creating customized products tailored to specific market needs, such as lightweight designs for Japan and integrated solar solutions for Europe [13][15]. - The company is expanding its product line to include home energy storage solutions, addressing the growing demand for green energy in residential settings [15][16]. Group 6: Future Outlook - Jackery aims to build a comprehensive green energy service ecosystem that spans outdoor, emergency, and everyday energy needs, solidifying its leadership position in the portable energy storage market [16].

Core Insights - The article highlights the strategic development of Huabao New Energy, focusing on its new headquarters, the New Energy No. 1 Building, which aims to enhance the company's ability to provide high-quality green electricity solutions for households [1] - The company emphasizes the growing demand for clean energy and its commitment to transforming this demand into core driving forces for the entire industry chain [1] Group 1: Product Development and Market Position - Huabao New Energy launched a comprehensive family green electricity solution in 2024, which includes DIY small-scale systems and aesthetic photovoltaic tile systems, aiming to create a closed-loop system for power generation, storage, and usage [2] - The company has established itself as a leader in portable energy storage, being the first to list on the Growth Enterprise Market in September 2022, and has developed innovative products that cater to the outdoor and home energy needs [1][2] Group 2: Environmental Commitment and Innovation - Huabao New Energy has built a full-chain green low-carbon value chain by integrating low-carbon principles into its production processes and establishing the industry's first "zero-carbon laboratory" [2] - The company has achieved significant ecological results, with its solar panels reportedly reducing carbon emissions by 1.243 million tons globally by June 30, 2025 [3] Group 3: Competitive Advantage and Market Outlook - The global consumer-grade photovoltaic storage market is experiencing rapid growth, with the portable storage sector still in its early stages but showing strong growth potential [3][4] - Huabao New Energy has developed a differentiated competitive advantage through its extensive patent portfolio, diverse product matrix, and a global sales network covering over 50 countries, with nearly 6 million units sold [4]

Core Viewpoint - The global demand for green energy is driving rapid expansion in the portable and home energy storage markets, with significant growth opportunities for companies like Huabao New Energy, which has demonstrated strong market performance and financial results [1][3]. Industry Overview - The global portable energy storage market is projected to grow from $4.69 billion in 2025 to approximately $6.61 billion by 2034, with a compound annual growth rate (CAGR) of 3.9%. The home energy storage installation capacity is expected to see a nearly 15% CAGR over the next three years [1]. - The green energy wave has created a large storage market, attracting numerous global players, but only a few companies are successfully converting demand into growth [1]. Company Performance - Huabao New Energy's stock price has increased by 20.92% over the past six months and by 29.51% in the last three months, significantly outperforming the CSI 300 Index, showcasing its Alpha attributes [1]. - In the first half of 2025, the company achieved revenue of 1.637 billion yuan, a year-on-year increase of 43.32%, and a net profit attributable to shareholders of 123 million yuan, up 68.31% [3]. Growth Drivers 1. **Focus on Consumer-Level Solar Storage**: - Huabao New Energy targets the consumer-level solar storage market, providing comprehensive green solutions for various scenarios, including home backup power and outdoor leisure [3][4]. - The company has established a leading position in the global consumer solar storage sector, with products sold in over 50 countries and regions, totaling nearly 6 million units [3]. 2. **M2C Direct Sales Model**: - The company employs a direct-to-consumer (M2C) sales model, bypassing intermediaries to create a global channel network that includes brand websites, third-party e-commerce platforms, and offline retail [4][5]. - This model has led to significant revenue growth, with independent site revenue increasing by 55.25% and offline retail revenue by 45.85% in the first half of 2025 [5]. 3. **R&D and Cost Optimization**: - Huabao New Energy maintains high R&D investment, with a total of 1,939 patents, including 661 solar-related patents, reflecting a year-on-year growth of 49.89% [6]. - The company has launched new products and achieved multiple international design awards, reinforcing its technological and design capabilities [6]. Financial Highlights - The revenue from the Solar Generator outdoor power supply category grew by over 60% year-on-year, accounting for more than 50% of the company's total revenue [4]. - The company has formed a product matrix that includes high-end home storage, backup power, and portable series, catering to diverse consumer needs [6]. Future Outlook - The growth logic of Huabao New Energy is clear: focusing on consumer-level solar storage, leveraging M2C direct sales for global expansion, and solidifying long-term barriers through R&D investment [7]. - As global demand for consumer-level solar storage continues to rise, the company's deepening layout in the home storage sector is expected to translate into stable performance growth, making its long-term development prospects promising [7].

Core Viewpoint - The global demand for green energy is driving rapid expansion in the portable and home energy storage markets, with Huabao New Energy (301327.SZ) emerging as a leading player in this sector, showcasing significant stock performance and robust financial results [1][3]. Group 1: Market Growth and Company Performance - The global portable energy storage market is projected to grow from $4.69 billion in 2025 to approximately $6.61 billion by 2034, with a compound annual growth rate (CAGR) of 3.9%, while the home energy storage installation capacity is expected to grow at nearly 15% over the next three years [1]. - Huabao New Energy reported a revenue of 1.637 billion yuan for the first half of 2025, a year-on-year increase of 43.32%, and a net profit of 123 million yuan, up 68.31% [3]. - The company's stock has increased by 20.92% over the past six months and 29.51% in the last three months, significantly outperforming the CSI 300 index [1]. Group 2: Strategic Focus and Business Model - Huabao New Energy focuses on the consumer-grade solar storage market, providing comprehensive green energy solutions for various scenarios, including home backup power and outdoor leisure [4]. - The company employs a direct-to-consumer (M2C) sales model, bypassing intermediaries to create a global channel network that enhances brand influence and reduces costs [5]. - The independent website revenue grew by 55.25% year-on-year, and offline retail revenue increased by 45.85%, with partnerships established with major retailers like Costco and Best Buy [6]. Group 3: Research and Development - Huabao New Energy maintains a strong emphasis on R&D, with 1,939 patents filed, including 661 solar-related patents, reflecting a year-on-year growth of 49.89% [7]. - The company has received numerous international design awards, showcasing its dual focus on technology and design [7]. - The company has led the establishment of industry standards, including the first domestic standard for portable photovoltaic components, enhancing its competitive edge [8]. Group 4: Operational Efficiency - The company has optimized its cost structure, with a decrease in sales expense ratio by 0.98 percentage points and management expense ratio by 1.78 percentage points in the first half of 2025 [8]. - Huabao New Energy leverages digital operations and AI tools to improve advertising efficiency and enhance channel management [8]. Conclusion - The growth logic of Huabao New Energy is clear, focusing on consumer-grade solar storage, utilizing M2C direct sales for global expansion, and reinforcing long-term barriers through R&D investment, positioning the company for stable future growth in the home energy storage sector [9].