在工艺层面，亿纬锂能称已突破四项关键技术：实现-30℃环境下25分钟快充的低温解决方案；系统成 组精度达垂直方向200μm、水平方向250μm；焊接熔深精度控制在80μm；全域发泡技术使电池包扭转刚 度超15000NM。目前，公司在大圆柱电池领域累计申请专利超2300项，覆盖15个国家。 此外，亿纬锂能针对低空飞行器领域推出分层能源方案，涵盖320Wh/kg以下的高成组效率产品及更高 能量密度的软包电池技术。公司同时发布全球化锂电回收网络"摇篮计划"，在四大洲30余国布局回收网 点，构建从电池回收到材料再生的闭环体系，目前已实现累计装车超3.2万台。 据悉，亿纬锂能将持续推进大圆柱电池技术研发，并与全球车企深化合作，进一步拓展新能源技术应用 场景。 亿纬锂能副总裁江吉兵在技术分享中指出，大圆柱电池具备三方面技术特点：其一，标准化设计可提升 制造效率，系统零部件标准化率较方形电池提高10倍；其二，"固定尺寸+多元化学体系"技术路线兼容 磷酸铁锂、磷酸锰铁锂及三元锂等多种体系，支持电量、续航等参数的灵活调整，缩短电池系统研发周 期至3-6个月；其三，圆形结构设计实现全生命周期"零膨胀"，减少电池系统应力管理需求。 ...

每经记者 刘曦 每经编辑 孙磊 随着汽车行业电动化变革逐步深入，动力电池安全性成为监管重点。近日，工业和信息化部批准发布的《电动汽车用动力蓄电池安全要求》（GB38031- 2025）将于2026年7月1日实施，被业界视为最严苛的动力电池"安全令"。 对此，亿纬锂能XEV产品中心总监冯炎强在上海车展期间接受《每日经济新闻》记者采访时表示："安全始终是我们最底层的核心属性，新标准将推动全 行业提升产品安全等级，让消费者用得更放心。" 此外，值得关注的是，大圆柱电池技术路线正获得越来越多车企青睐。亿纬锂能副总裁、电池系统研究院院长江吉兵告诉记者："大圆柱电池是新能源汽 车的最优解，其制造效率可达方形电池10倍，且标准化设计能让电池成为汽车标准零部件。"目前，亿纬锂能的大圆柱电池已获得宝马定点，预计2025 年"上车"。 大圆柱电池将迎来规模化量产 从技术路线来看，新能源汽车动力电池主要分为方形、软包和圆柱三种形态。目前市场仍以方形电池为主导，占据约六成的市场份额。而大圆柱电池通过 结构创新实现了能量密度的突破，其中以直径46毫米、高度80毫米的4680电池最具代表性。 在江吉兵看来，相较于方形电池，大圆柱电池凭借 ...

大圆柱电池尽管在新能源汽车应用方面具备多重优势，但其生产工艺标准和要求也非常严苛。亿纬锂能 能率先量产大圆柱电池，也攻克了很多技术难关，江吉兵也对此一一介绍。 近日，第二十一届上海国际汽车工业展览会（简称"上海车展"）正式开幕。亿纬锂能携OMNI全能电 池、开源电池、飞行器电池、机器人电池、汽车电子电池等一系列核心技术产品亮相展会。 其中，大圆柱电池是该公司本次车展的核心产品，亿纬锂能副总裁、电池系统研究院院⻓江吉兵认为大 圆柱电池是新能源汽车的最优解，并从多方面阐述了他的观点。 第一个是标准化，大圆柱电池契合汽车工业的效率要求。江吉兵认为，中国新能源汽车过去的10年里， 电池产业的核心问题是产能错配问题，如何减少电池的多样化，是提升汽车工业效率很关键的一环。 相较于方形电池，大圆柱电池10倍的制造效率，系统零部件设计标准化和成组工艺标准化，可让电池成 为汽车标准零部件。 第二个核心价值是原位升级。在新能源汽车产品迭代周期压缩至12-18个月的产业现状下，大圆柱电池 的"固定尺寸+多元化学体系"技术路线，可以解决标准化与个性化之间的问题。 其可兼容从磷酸铁锂（LFP）、磷酸锰铁锂（LMX）到三元锂（NCM）等 ...

Financial Performance - In 2024, the company achieved total revenue of 48.615 billion yuan and a net profit attributable to shareholders of 4.076 billion yuan, with a non-recurring net profit of 3.162 billion yuan, reflecting a year-on-year growth of 14.76% [3][4]. Business Segments Consumer Batteries - The consumer battery segment continues to lead, with ongoing enhancements in delivery capabilities and expansion into emerging markets such as BBU data centers, eVTOL, drones, and aircraft [3][4]. - The company expects a 20% year-on-year growth in the consumer battery segment for 2025 [8]. Energy Storage - The energy storage business saw a significant leap, with a total shipment of 50.45 GWh in 2024, representing a year-on-year increase of 91.90% [4]. - The company ranks second globally in energy storage cell shipments, with a 24.25% share of overseas direct sales in 2024 [7][8]. Power Batteries - The power battery segment experienced a 7.87% year-on-year growth, with shipments reaching 30.29 GWh in 2024 [4]. - The company holds a 12.15% market share in the domestic commercial vehicle battery market, ranking second [4]. Production and Capacity - The company’s Malaysian factory is progressing as planned, with energy storage production expected to commence in early 2026 [5][6]. - The company is enhancing production capacity utilization through line modifications and customer expansion, with expectations for steady improvement in 2025 [8]. Market Outlook - The company remains optimistic about the U.S. market despite uncertainties regarding tariff policies, with large-scale deliveries of energy storage orders anticipated to begin in 2026 [5][6]. - The cancellation of mandatory storage policies is expected to stimulate more application scenarios in the energy storage market [7]. Strategic Developments - The company is focusing on new technologies, including solid-state batteries and sodium batteries, with plans for pilot production lines in 2025 and gradual scale-up in 2026 [8]. - The company’s commercial vehicle solutions include a range of products for various applications, with ongoing performance iterations [8].

Core Viewpoint - Despite the ongoing downturn in the lithium battery market, EVE Energy has shown relatively stable performance, although it does not stand out compared to industry leaders CATL and BYD [1] Financial Performance - In 2024, EVE Energy reported revenue of 48.615 billion yuan, a year-on-year decrease of 0.35%, and a net profit of 4.076 billion yuan, a year-on-year increase of 0.63% [2] - In Q1 2025, EVE Energy achieved revenue of 12.796 billion yuan and a net profit of 818 million yuan, representing a year-on-year growth of 16.6% [2] - The company's battery shipment volume increased significantly, with a nearly 60% growth in power batteries and nearly 80% growth in energy storage batteries in Q1 [2] Business Segmentation - EVE Energy's lithium battery revenue is divided into power batteries (39.43%), energy storage batteries (39.14%), and consumer batteries (21.23%) [3] - The energy storage battery segment has been rapidly increasing its revenue share, potentially surpassing power batteries this year [3] - The gross margin for power batteries remained around 14%, despite a 20% year-on-year revenue decline [3] Market Position and Competition - CATL and BYD dominate the domestic power battery market, holding nearly 70% of the market share, leaving EVE Energy and other manufacturers to compete for the remaining share [4] - EVE Energy aims to reduce reliance on a few major clients by diversifying its customer base and offering differentiated products and services [4] Growth Drivers - The energy storage business has emerged as a crucial growth engine for EVE Energy, helping to mitigate overall performance declines [5] - In 2024, EVE Energy's energy storage capacity is expected to reach approximately 50 GWh, with an additional 20 GWh projected for 2025 [6] - EVE Energy's energy storage shipment volume reached 50.45 GWh in 2024, with a year-on-year growth exceeding 90% [6] Technological Advancements - EVE Energy has made significant progress in solid-state battery technology, with plans to launch high-power solid-state batteries for hybrid applications by 2026 [6] - The company has also achieved notable research results in lithium metal secondary batteries, sodium-ion batteries, and hydrogen fuel cells [6]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 49.20 [7][8]. Core Views - The company has shown significant growth in energy storage shipments, with a strong performance in the consumer sector and expectations for profitability improvement in the power sector in 2025 [1][2]. - The company's Q1 2025 revenue reached RMB 12.796 billion, representing a year-on-year increase of 37.34% [1]. - The net profit attributable to the parent company for Q1 2025 was RMB 1.101 billion, exceeding previous expectations due to improved non-recurring gains [1][2]. Summary by Sections Energy Storage and Power Sector - In Q1 2025, the company shipped 10.17 GWh of power storage, a year-on-year increase of 58%, with a capacity utilization rate close to 70% [2][3]. - The company anticipates continued improvement in profitability in the power business throughout 2025, supported by the construction of a storage factory in Malaysia, which is expected to begin production in 2026 [3]. Consumer Sector - The company has maintained its leading position in lithium batteries, with monthly sales of small cylindrical batteries exceeding 10 million units [4]. - The Malaysian small cylindrical battery factory has commenced production, and the company expects a revenue growth rate of 20% in consumer batteries for 2025 [4]. Financial Projections - The company forecasts net profits attributable to the parent company of RMB 5.035 billion, RMB 6.727 billion, and RMB 7.939 billion for 2025, 2026, and 2027, respectively [4][6]. - The projected revenue for 2025 is RMB 72.494 billion, reflecting a growth rate of 49.12% compared to 2024 [6].

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-062 1、股东部分股份解除质押的基本情况 | 股东名称 | 是否为控股股东 或第一大股东及 其一致行动人 | 本次解除质押 数量（股） | 占其所持 股份比例 | 占公司总 股本比例 | 质押开始日 | 解除质押日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 刘金成 | 是 | 2,800,000 | 3.62% | 0.14% | 2024年1月31日 | 2025年4月24日 | 渤海国际信托股份有限公司 | | 亿纬控股 | 是 | 17,000,000 | 2.60% | 0.83% | 2023年4月24日 | 2025年4月24日 | 渤海国际信托股份有限公司 | 2、股东部分股份质押的基本情况 | 股东名称 | 是否为控 股股东或 第一大股 | 本次质押数 | 占其所持 | 占公司总 | 是否是 | 是否为补 | 质权人 | 质押开始日 | 质押到期日 | 用途 | | --- | --- | --- | --- | --- | --- | --- | - ...

| 证券代码：300014 | 证券简称：亿纬锂能 | 公告编号：2025-061 | | --- | --- | --- | | 债券代码：123254 | 转债简称：亿纬转债 | | 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、截至 2025 年 4 月 25 日，惠州亿纬锂能股份有限公司（以下简称"公司"）股 票已出现连续三十个交易日中至少有十五个交易日的收盘价低于当期转股价格的 85% 的情形，已触发"亿纬转债"（债券代码：123254）转股价格向下修正条件。 2、公司于 2025 年 4 月 25 日召开第六届董事会第五十二次会议，审议通过了《关 于不向下修正亿纬转债转股价格的议案》，公司董事会决定本次不向下修正"亿纬转债" 的转股价格。同时自本次董事会审议通过次一交易日起未来 5 个月（2025 年 4 月 28 日 至 2025 年 9 月 27 日）内，如再次触发"亿纬转债"转股价格向下修正条款，亦不提 出向下修正方案。在此期间之后，若再次触发"亿纬转债"的转股价格向下修正条款， 届时公司董事会将再次召开会议决定是否行使"亿纬 ...

| 证券代码：300014 | 证券简称：亿纬锂能 | 公告编号：2025-060 | | --- | --- | --- | | 债券代码：123254 | 转债简称：亿纬转债 | | 惠州亿纬锂能股份有限公司 第六届董事会第五十二次会议决议公告 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 惠州亿纬锂能股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日在广东省惠 州市仲恺高新区惠风七路 38 号亿纬锂能零号会议室采用通讯表决的方式召开第六届 董事会第五十二次会议。本次会议由董事长刘金成先生主持，应参加会议董事 7 名， 实际参加 7 名。本次会议的召开符合《公司章程》规定的法定人数。 会议的召集和召开符合《公司法》和《公司章程》的有关规定。经表决，形成以下 决议： 一、审议通过了《关于不向下修正亿纬转债转股价格的议案》 鉴于"亿纬转债"距离存续届满尚远，经综合考虑公司的基本情况、股价走势、市 场环境等多重因素，以及对公司的长期发展潜力与内在价值的信心，为维护全体投资 者的利益，同意本次不向下修正"亿纬转债"转股价格。同时自本次董事会审议通过 ...

在消费电池方面，亿纬锂能持续领跑，新兴市场拓展加大。消费电池作为亿纬锂能的传统强项，亿纬锂 能依然保持领先地位。锂亚硫酰氯电池、SPC电容器等产品稳居国家级单项冠军地位，2024年电子雾化 器电池全球累计出货超20亿只。同时，公司在人形机器人、eVTOL(电动垂直起降飞行器)、无人机等新 兴领域完成样品交付，单月小圆柱电池产销量突破1亿只，展现出强大的市场响应能力和技术储备。 4月24日晚间，亿纬锂能(股票代码：300014)发布2025年一季报，一季度公司营收127.96亿元，同比上升 37.34%；扣非归母净利润8.18亿元，同比上升16.60%。在全球新能源汽车产业蓬勃发展和储能需求爆发 式增长的大背景下，作为锂电池领域的领军企业，公司凭借技术创新、全球化布局和战略聚焦，不仅巩 固了行业地位，更在多个关键领域实现了突破。 在储能电池方面，亿纬锂能业务增长迅猛，全球市占率稳步提升。一季度，公司储能电池出货量达 12.67GWh，同比增长80.54%，主要受益于全球储能市场需求激增及公司产品的高质量与稳定交付能 力。回顾2024年，亿纬锂能储能业务迎来迅猛增长，全年出货量达50.45GWh，同比飙升91.9 ...