光储板块25Q3业绩总结:反内卷推动亏损收窄 景气右侧稳步推进

国金证券
Nov 02

2025年前三季度需求维持增长(前三季度国内新增装机240.27GW、同比+49%, 电池组件合计出口265.9GW、同比+14%),但价格处于较低水平,各环节盈利承压,前三季度【SW光伏设备】口径实现营收4031亿元、同比-11%,实现归母净利润-116亿元、同比基本持平。25Q3国内受前期抢装影响装机下降( Q3国内新增装机28GW,同比-51%、环比-81% ),而海外需求加速释放( Q3...

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