On ****, Geelong reported that as a leading domestic energy storage battery cell manufacturer, Eve Energy Co., Ltd. (300014.SZ) has benefited from increasing downstream demand and expects continuous high growth in energy storage battery shipments. The company's energy storage battery shipments in Q1 2024 were 7.02 GWh, a increase of 113% year-on-year. According to Xinlong news, the company's domestic energy storage cell shipments ranked second in March 2024, accounting for 18.7%. Considering the strong downstream demand, it is expected that the company's Q2 energy storage battery shipments will reach 12-13 GWh, an increase of 70% compared to the previous quarter. The company's energy storage production capacity is currently at full production, and considering optimization of order structure adjustments, there is room for price increases and profitability is expected to gradually improve. Considering the rapid development of the company's power storage consumer business, it is recommended to maintain a "buy" rating.
研报掘金丨西部证券：亿纬锂能盈利性有望逐步提升，维持“买入”评级
Research Report: Western Securities: Eve Energy Co., Ltd.'s profitability is expected to gradually improve, maintaining a "buy" rating.
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