曹德旺胞妹将收获一个IPO，估值182亿
<p style="margin: 0px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; clear: both; min-height: 1em; font-size: 17px; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-wrap: wrap; color: rgb(51, 51, 51); font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; text-align: center; line-height: 1.75em; letter-spacing: 0.54px; background-color: rgb(255, 255, 255);"></p><p><br/></p><section style="margin: 0px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-wrap: wrap; clear: both; color: rgb(51, 51, 51); min-height: 1em; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; text-align: center; line-height: 1.75em; letter-spacing: 0.48px; font-size: 16px; background-color: rgb(255, 255, 255);"></section><section style="margin: 0px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-wrap: wrap; clear: both; color: rgb(51, 51, 51); min-height: 1em; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; text-align: center; line-height: 1.75em; letter-spacing: 0.48px; font-size: 16px; background-color: rgb(255, 255, 255);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; font-size: 15px; letter-spacing: 0.5px;"><strong style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; color: rgb(49, 49, 49); text-indent: 0em;">退休后再创业，将家族生意版图扩大到动力电池。</span></strong></span><br style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word;"/></section><section style="margin: 0px 8px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-align: justify; text-wrap: wrap; color: rgb(51, 51, 51); font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; line-height: 1.75em; letter-spacing: 0.54px; font-size: 16px; min-height: 1em; background-color: rgb(255, 255, 255);"></section><section style="margin: 0px 8px 5px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; font-size: 17px; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-wrap: wrap; color: rgb(51, 51, 51); font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; line-height: 1.75em; letter-spacing: 0.48px; min-height: 1em; background-color: rgb(255, 255, 255);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px;">文丨直通IPO ID</span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px;">：zhitongIPO</span></section><p><br/></p><p style="margin: 0px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; clear: both; min-height: 1em; font-size: 17px; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-wrap: wrap; color: rgb(51, 51, 51); font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; line-height: 1.75em; letter-spacing: 0.48px; background-color: rgb(255, 255, 255);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px;">作者丨邵延港</span></p><p><br/></p><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">又一只动力电池独角兽，冲刺IPO。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">7月26日，江苏正力新能电池技术股份有限公司（以下简称“正力新能”）正式递表港交所，计划冲刺主板上市。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">这也是中国动力电池企业前十名中，除了撤回科创板IPO的蜂巢能源之外，最后一个冲刺资本市场的厂商。如果正力新能此次成功上市，其也将成为继中创新航、瑞浦兰钧之后，港股第三家动力电池头部企业。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新能同样被称为锂电“黑马”，自2019年正式成立，至递交招股书前2日的最后一轮融资，其估值超过180亿元。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">而这只独角兽背后的掌舵者，是福耀玻璃创始人曹德旺的家族成员，其胞妹曹芳。从汽车玻璃行业，跨界汽车动力电池，曹芳将家族生意版图进一步扩大。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">但在竞争激烈的中国动力电池赛道，曹芳掌舵下的正力新能的装机量迅速增长，市场份额逐步提升，成为让宁德时代曾毓群“担忧”的女人。</span></section><section style="margin: 0px 8px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 15px; letter-spacing: 0.5px;"></span></section><section data-role="outer" label="Powered by 135editor.com" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><section data-role="title" data-tools="135编辑器" data-id="104089" data-color="#ff0000" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;"><section style="margin: 10px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; text-align: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; display: flex; justify-content: center; align-items: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; width: 40px; flex-shrink: 0;"></section><section data-brushtype="text" style="margin: 0px; padding: 0px 8px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; font-size: 16px; color: rgb(255, 0, 0);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 18px;"><strong style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">曹德旺胞妹，“退休”后再创业</strong></span></section></section></section></section></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">曹芳比曹德旺小12岁，在曹德旺创业成功之后，曹芳加入哥哥的公司担任董事，并在之后开始主管商务工作，她还曾是曹德旺家族在福耀玻璃中年薪最高的成员。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">而在2014年4月，福耀玻璃发公告称，曹芳因个人年龄原因从公司离职，曹芳当年56岁，已经到了当时法定的女性退休年龄。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">但现在看来，曹芳显然没有真正退休。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">其实在退休前一年的2013年，曹芳就与福耀玻璃另一位高管陈继程，一起创立了常熟新中源创业投资有限公司。当年新中源创投便与丰田合资，创立新中源丰田能源系统有限公司，为丰田的混动、插混车型提供电池系统。值得注意的是，2023年，新中源丰田被正力新能以28亿元股权和近5亿元现金进行收购。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">有了在电池领域的投资经验，从福耀玻璃离职后的曹芳开始大力加码新能源车赛道。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">2016年，曹芳的老搭档陈继程也选择从福耀玻璃离职，二人在常熟成立正力投资，陈继程和曹芳分别担任前两大股东。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">借助常熟在动力电池上游核心原材料供应充足等独特优势，正力投资在常熟先后投资了三家公司，分别是正力新能源、正力芯控和</span><span class="wx_search_keyword_wrap" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; color: var(--weui-LINK); cursor: default;">塔菲尔新能源<em class="wx_search_keyword" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; display: inline-block; vertical-align: super; font-size: 10px; width: 1.2em; height: 1.2em; -webkit-mask-position: 50% 50%; -webkit-mask-repeat: no-repeat; -webkit-mask-size: 100%; background-color: var(--weui-LINK); -webkit-mask-image: url(data:image/svg+xml,%3csvg width=12 height=12 viewBox=0 0 12 12 fill=none xmlns=http://www.w3.org/2000/svg%3e%3cpath fill-rule=evenodd clip-rule=evenodd d=M7.60772 8.29444C7.02144 8.73734 6.29139 9 5.5 9C3.567 9 2 7.433 2 5.5C2 3.567 3.567 2 5.5 2C7.433 2 9 3.567 9 5.5C9 6.28241 8.74327 7.00486 8.30946 7.5877C8.3183 7.59444 8.3268 7.60186 8.33488 7.60994L10.4331 9.70816L9.726 10.4153L7.62777 8.31704C7.62055 8.30983 7.61387 8.30228 7.60772 8.29444ZM8 5.5C8 6.88071 6.88071 8 5.5 8C4.11929 8 3 6.88071 3 5.5C3 4.11929 4.11929 3 5.5 3C6.88071 3 8 4.11929 8 5.5Z fill=%23576B95/%3e%3c/svg%3e);"></em></span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">，其中正力新能源是正力投资和蔚来汽车的合资公司，蔚来首款量产车ES8的电池包由正力新能源设计。</span></span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">而正力投资最关键的一次出手是在2019年2月，以1.6亿元投资动力电池厂商塔菲尔。双方合资正式成立正力新能，负责塔菲尔的产能扩张。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">值得注意是，塔菲尔创始人龙绘锦与宁德时代创始人曾毓群同样出身于新能源科技有限公司（</span><span class="wx_search_keyword_wrap" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; color: var(--weui-LINK); cursor: default;">ATL<em class="wx_search_keyword" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; display: inline-block; vertical-align: super; font-size: 10px; width: 1.2em; height: 1.2em; -webkit-mask-position: 50% 50%; -webkit-mask-repeat: no-repeat; -webkit-mask-size: 100%; background-color: var(--weui-LINK); -webkit-mask-image: url(data:image/svg+xml,%3csvg width=12 height=12 viewBox=0 0 12 12 fill=none xmlns=http://www.w3.org/2000/svg%3e%3cpath fill-rule=evenodd clip-rule=evenodd d=M7.60772 8.29444C7.02144 8.73734 6.29139 9 5.5 9C3.567 9 2 7.433 2 5.5C2 3.567 3.567 2 5.5 2C7.433 2 9 3.567 9 5.5C9 6.28241 8.74327 7.00486 8.30946 7.5877C8.3183 7.59444 8.3268 7.60186 8.33488 7.60994L10.4331 9.70816L9.726 10.4153L7.62777 8.31704C7.62055 8.30983 7.61387 8.30228 7.60772 8.29444ZM8 5.5C8 6.88071 6.88071 8 5.5 8C4.11929 8 3 6.88071 3 5.5C3 4.11929 4.11929 3 5.5 3C6.88071 3 8 4.11929 8 5.5Z fill=%23576B95/%3e%3c/svg%3e);"></em></span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">），曾毓群是龙绘锦的上司。2011年，曾毓群从ATL带走大批员工，创办宁德时代（CATL），2015年，龙绘锦则与一批员工，在东莞创办塔菲尔。</span></span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">正力投资入股塔菲尔9个月后，就跻身中国动力电池20强，成为锂电行业的后起之秀。2020年1月，塔菲尔排名第8位，首次挤进国内前十大动力电池厂商，2020年2月排名第七位。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">同年5月份，正力投资以10.8亿元，拿下塔菲尔的控股权。经过之后的重组，原塔菲尔的股东下沉至合资公司正力新能的股东，正力投资直接持股正力新能。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新能这一品牌才正式闯入公众视野。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">在新能源汽车加速渗透的浪潮之下，动力电池赛道也迎来快速增长期。2021年之后，正力新能开始在资本市场进行融资。招股书显示，正力新能重组之后完成两轮融资和一次股权转让。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">其中，在2022年的A轮融资中，海松资本、中金上汽新兴产业基金以及南京等地方国资合计投资24亿元，正力新能的投后估值达到144亿元；在2024年7月的B轮融资中，新中源创投、东南投控、苏创能源投资以及两位个人投资者，合计投资10亿元，正力新能的投后估值达到182亿元。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">股权结构方面，截至IPO前，曹芳和陈继程二人通过正力投资、新中源创投、正力咨询等，控制公司48.56%的股权，又通过一致行动人协议，控制16.04%的股权，合计控制正力新能64.60%的股权。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">此外，曹德旺控制的福建耀华持股2.52%，海松资本持股2.47%。</span></section><section style="margin: 0px 8px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 15px; letter-spacing: 0.5px;"></span></section><section data-role="outer" label="Powered by 135editor.com" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><section data-role="title" data-tools="135编辑器" data-id="104089" data-color="#ff0000" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;"><section style="margin: 10px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; text-align: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; display: flex; justify-content: center; align-items: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; width: 40px; flex-shrink: 0;"></section><section data-brushtype="text" style="margin: 0px; padding: 0px 8px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; font-size: 16px; color: rgb(255, 0, 0);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 18px;"><strong style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">去年国内排名第十，三年累亏27亿</strong></span></section></section></section></section></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">瑞浦兰钧背靠青山系，迅速成长为锂电独角兽企业。正力新能则在招股书中称，其是中国动力电池前十企业中极少数拥有汽车零部件基因的公司。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">曹芳和陈继程在福耀玻璃的经历，让正力新能凭借服务主机厂的基因，建立了客户基础，与覆盖全球出行及储能电池领域的龙头企业建立深厚业务关系。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">如今，正力新能提供电芯、模块、电池包、电池簇、电池管理系统的一体化方案，致力于拓展电化学产品在陆海空互联全场景下的大规模应用。招股书显示，当前正力新能构建了覆盖陆海空互联全场景、多路径的电池产品组合。车用动力电池产品主要为磷酸铁锂电池产品和三元锂电池产品，可覆盖BEV、PHEV、EREV、HEV等多动力类型汽车电池，兼顾轿车、SUV、MPV等多用途汽车的需求。储能和船舶动力电池产品主要为磷酸铁锂电池产品，航空电池产品主要为高镍半固态锂电池产品，但其海空两用电池产品上的投资尚未实现大规模商业化。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">2023年，正力新能动力电池装机量5.4GWh，在中国动力电池生产商中排名第10，市场份额1.4%。在磷酸铁锂动力电池市场排名第7名，在三元动力电池市场排名第八名。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">据中国汽车动力电池产业创新联盟数据显示，2024年上半年，正力新能的动力电池装车量达3.24GWh，占全国市场份额的1.61%，排名全国第九位。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">财务方面，据招股书，2021年、2022年、2023年及2024年第一季度，正力新能营业收入分别为14.99亿元、32.90亿元、41.62亿元及7.37亿元，净亏损分别为4.02亿元、17.20亿元、5.90亿元、6989.9万元。</span></section><p><br/></p><p style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; text-align: center; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(168, 168, 168); font-size: 12px; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; box-sizing: border-box !important; overflow-wrap: break-word !important;">来源：</span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(168, 168, 168); font-size: 12px; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新能招股书</span></span></p><p><br/></p><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">不过，作为后起之秀，正力新能的增速很快。2022年至2023年，按2023年的装机量同比增速计，正力新能在动力电池市场装机量前十的企业中排名第2名，在磷酸铁锂动力电池市场装机量前十的企业中排名第1名。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">2021年、2022年、2023年及截至2024第一季度，正力新能的研发开支分别为2.21亿元、3.29亿元、4.24亿元及1.29亿元，分别占同期总收入的14.7%、10.0%、10.2%及17.5%。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新能收入主要由动力电池和储能产品构成，但储能产品的收入占比在2023年及2024年第一季度分别为7.6%和5.5%，占比较小。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-wrap: wrap; background-color: rgb(255, 255, 255); text-align: center; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; box-sizing: border-box !important; overflow-wrap: break-word !important;">来源：</span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新</span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(168, 168, 168); font-size: 12px; letter-spacing: 0.5px; font-family: -apple-system-font, BlinkMacSystemFont, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; box-sizing: border-box !important; overflow-wrap: break-word !important;">能招股书</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">而正力新能核心的动力电池的单价在2021年、2022年、2023年及截至2024第一季度分别为0.69元/Wh、0.86/Wh、0.57/Wh、0.56/Wh，毛利率分别为7.5%、9.2%、12.9%及11.9%。</span></section><section style="margin: 0px 8px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 15px; letter-spacing: 0.5px;"></span></section><section data-role="outer" label="Powered by 135editor.com" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><section data-role="title" data-tools="135编辑器" data-id="104089" data-color="#ff0000" style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;"><section style="margin: 10px 8px 20px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; text-align: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; display: flex; justify-content: center; align-items: center;"><section style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; width: 40px; flex-shrink: 0;"></section><section data-brushtype="text" style="margin: 0px; padding: 0px 8px; outline: 0px; max-width: 100%; box-sizing: border-box; overflow-wrap: break-word !important; font-size: 16px; color: rgb(255, 0, 0);"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 18px;"><strong style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;">锂电行业内卷，正力新能如何破局？</strong></span></section></section></section></section></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">全球动力电池装机量的前十位中，中国厂商占了6席。中国动力电池市场更是高度集中，2023年，中国前10的动力电池生产商占总装机量的96.5%。宁德时代和比亚迪是二线动力电池厂商前面的两座大山，2023年这两家厂商市场占比达到70%。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">新能源趋势下，动力电池的应用场景和需求逐步扩大，在失去先发优势后，正力新能等新兴品牌需要更有效的破局方式。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">由于动力电池成本在电动汽车的整体成本较高，随着整车厂商竞争日趋激烈，价格竞争激烈，动力电池生产商也面临着越来越大的压力，为提高成本效益，在生产全流程中持续进行价格下调，采取措施确保核心原材料稳定供应，控制设备成本，提高产线效率，及优化产品设计，以此来应对行业的价格战。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">正力新能采用标准化电芯、打造平台化电池包系统并通过差异化电化学体系实现性能差异化，具备高通用性的电池产品可适配不同车型、不同用途汽车，从而在减少主机厂开发成本的同时降低其研发及制造成本。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">而在2022年，正力新能一名主机厂客户因其业务运营发生重大不利变动而导致的电池采购计划变更，取消了用于BEV的三元电池产品采购订单。受上述订单取消的直接影响，正力新能三元电池的销量从2022年的2.9GWh降至2023年的1.5GWh，三元电池的销售收入从2022年的26.29亿元减少至2023年的14.48亿元。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">并且上述订单取消还导致在2022年产生存货减值亏损4.22亿元，顺带导致正力新能暂停了一条生产线。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">招股书显示，正力新能的产线可实现高柔性生产，可以较低成本在较短时间内完成不同产品（从动力电池到储能电池，从三元电池到磷酸铁锂电池）生产的快速切换。同一产线生产相同尺寸不同电化学体系电芯产品的切换时间短至3天，同一产线生产不同尺寸电芯产品的切换时间短至50天。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-indent: 0em; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 15px; letter-spacing: 0.5px; text-decoration-style: solid; text-decoration-color: rgba(0, 0, 0, 0.9); box-sizing: border-box !important; overflow-wrap: break-word !important;">在竞争激烈的中国动力电池赛道，正力新能以黑马姿态跑出来，让市场看到了锂电产业不一样的发展案例。此次正力新能冲刺港股市场，曹芳和陈继程将收获一个IPO，港股市场也将迎来第三个动力电池独角兽。</span></section><section style="margin: 0px 8px 24px; padding: 0px; outline: 0px; max-width: 100%; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); line-height: 1.75em; box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; font-size: 15px; letter-spacing: 0.5px;"></span></section><p><br/></p><p style="margin-top: 0px; margin-bottom: 0px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgba(0, 0, 0, 0.9); font-family: PingFang SC, system-ui, -apple-system, BlinkMacSystemFont, Helvetica Neue, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; font-size: 17px; letter-spacing: 0.544px; text-align: justify; text-wrap: wrap; background-color: rgb(255, 255, 255); box-sizing: border-box !important; overflow-wrap: break-word !important;"><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-family: -apple-system, system-ui, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; letter-spacing: 0.5px; color: rgb(136, 136, 136); font-size: 14px; box-sizing: border-box !important; overflow-wrap: break-word !important;">（首图来源：正力新能官网截图</span><span style="margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-family: -apple-system, system-ui, Helvetica Neue, PingFang SC, Hiragino Sans GB, Microsoft YaHei UI, Microsoft YaHei, Arial, sans-serif; letter-spacing: 0.5px; color: rgb(136, 136, 136); font-size: 14px; box-sizing: border-box !important; overflow-wrap: break-word !important;">）</span></p><p><br/></p><link rel="stylesheet" href="//www.fqlook.cn/source/plugin/wcn_editor/public/wcn_editor_fit.css?v134_J03" id="wcn_editor_css"/> 厉害了我的姐！ 希望发展越来越好， 动力电池已经是头部厂家的天下了，前三名已经拿下八成的市场，剩下的也大部分在汽车厂家的自供。甚至据统计已经产能过剩，产能利用率不足七成！特别是三元锂电池。行业已经开始淘汰赛。包括韩日在内的一大批电池厂商在破产的边缘。锂矿从每顿五六十万跌到现在八九万每顿。且动力电池厂已经拓展到储能电池，也是产能过剩。只有头部几家还能盈利，且有较高的技术优势。蜂巢能源都上不了科创板{:5_251:}，这个去到港股也是大概率破发，且很快成为仙股。 厉害厉害 曹氏家族产业链 曹芳和德旺是不是一个爷爷
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