Weekly Energy Storage Companies: Sungrow Power Supply / Haichen Energy Storage / Jinko Energy Storage / Ruipu Lan Jun / Shuangdeng Group / BYD / CRRC Zhuzhou Institute / Sige New Energy, etc.

（Source: Energy Storage and Power Markets）

This week (3.23-3.27), some energy storage companies performed as follows in areas such as earnings disclosures, overseas orders, enterprise/government-enterprise cooperation, and investment finance:

Riyu run Jun 2025

Revenue of RMB 24.3 billion; net profit of RMB 680 million

On March 26, Ruiyunlian Jun released its 2025 annual report. The report shows that the company achieved full-year revenue of RMB 24.3 billion and net profit of RMB 680 million. Compared with 2024, Ruiyunlian Jun’s profitability turned from loss to profit by more than RMB 2 billion in 2025, marking its first profitable year since its establishment.

For more operating performance and financial data related to Ruiyunlian Jun in 2025, please refer to: Ruiyunlian Jun 2025: Breaking Through Profitability! “Coupled Operation of Flexible Dispatch and Storage” Becomes the Growth Engine

Dengbang Co., Ltd. 2025

Revenue of RMB 5.1 billion; profit within the year of RMB 260 million

On March 25, Dengbang Co., Ltd. released its 2025 annual performance report. In 2025, Dengbang Co., Ltd. generated operating revenue of approximately RMB 5.083 billion, up 13% year over year; profit within the year was RMB 256 million, down 27.7% year over year.

Of this, AIDC data center energy storage revenue was RMB 1.907 billion, up 37%, becoming the largest revenue source; power energy storage (including for home use) revenue was RMB 892 million, up 97.9%.

Guoqu Technology 2025

Revenue of RMB 2.1 billion; annual profit of RMB 100 million

On March 20, Guoqu Technology released its 2025 annual performance announcement. During the reporting period, Guoqu Technology achieved revenue of RMB 2.057 billion, up 100.6% year over year; annual profit was RMB 103 million, up 109.5%.

Of this, the energy storage system solution business revenue was RMB 1.814 billion, accounting for 88.2% of total revenue, up 80.9% year over year; gross profit was RMB 364 million, with a gross margin of 20.1%.

Hopewind Electrical 2025

Revenue of RMB 4.2 billion; net profit excluding non-recurring items of RMB 500 million

On March 25, Hopewind Electrical released its 2025 annual report. In 2025, Hopewind Electrical’s revenue was RMB 4.168 billion, up 11.64% year over year; net profit excluding non-recurring items was RMB 525 million, up 32.34% year over year.

Hopewind Electrical’s business in the energy storage sector mainly consists of complete energy storage system solution packages, specifically including PCS, integrated converter-and-boost units, EMS, and other products.

Maitian Energy

12,000 energy storage system installations in February

On March 25, Maitian Energy officially disclosed that in February 2026, Maitian Energy’s energy storage system installations will reach 12,000 units. Among energy storage systems in the 0-1000kWh range, it ranks first by installed battery capacity in Australia, successfully topping Australia’s home energy storage market.

According to data from S&P Global’s residential energy storage index, Maitian Energy ranked first in Europe’s residential energy storage market in the first half of 2025.

Sungrow and partners in Japan and South Africa

Signed energy storage system procurement cooperation agreements, respectively

On March 24, Blue Sky Energy (Blue Sky Energy Co., Ltd.) , a Japanese renewable energy company, announced that it had officially signed a grid-side energy storage battery system procurement agreement with Sungrow on March 18. Leveraging Sungrow’s advanced energy storage products, it will advance the rollout of grid-side energy storage power stations across Japan’s entire country, covering 100 grid-side energy storage sites. Blue Sky Energy also plans to simultaneously promote PV-plus-storage deployment, adapt to Japan’s FIP new energy electricity pricing policy, and improve renewable energy utilization and the economic benefits of power stations.

In addition, on March 27, Sungrow signed an agreement with its official distribution cooperation partner Herholdt’s Group in South Africa to deploy a total of 1,155MWh of industrial and commercial energy storage systems. The deployments will be carried out in phases, and rolled out across various regions in South Africa, to support a variety of industrial and commercial energy storage application scenarios.

It is understood that Sungrow has been deeply engaged in the South Africa market for 9 years, building a comprehensive regional service capability that can support projects across the African continent.

Jinko Storage

Reached cooperation on a 1GWh energy storage project in Latin America

Recently, Jinko Storage and an important cooperation partner in Latin America reached a strategic cooperation agreement, launching collaboration around a batch of energy storage projects with a total scale of 1GWh. The related projects are mainly intended for grid-side and large-scale energy storage scenarios, and it is proposed to use Jinko Storage SunTera G3 6.25MWh battery energy storage systems.

BYD Energy Storage reached cooperation with a Spanish company

To supply 2.6GWh energy storage systems for a Chile PV-plus-storage project

Recently, BYD Energy Storage and Spanish clean energy company Grenergy reached a strategic cooperation agreement to provide 468 sets of MC Cube-T energy storage systems for the Oasis in Central Chile PV-plus-storage project, with total capacity of 2.6GWh. The systems will be used in four PV-plus-storage power stations: Gran Teno, Tamango, Planchón, and Monte Águila.

This is also the second time both sides have joined forces—after partnering on the largest-scale 3.5GWh energy storage project in Latin America in May 2025—to build another benchmark new energy project. At present, among the energy storage cabinets supplied by BYD Energy Storage for the Gran Teno PV-plus-storage power station, 168 units have completed shipment loading in Shenzhen. They are expected to arrive at the project site in mid-April. The remaining equipment is being shipped in an orderly manner according to the plan. The power station is expected to achieve commissioning and grid connection in the second quarter of this year.

The Oasis in Central Chile PV-plus-storage project has a total PV installed capacity of 1.1GW and an energy storage capacity of 4GWh. The project is expected to have total investment of USD 900 million, and is planned to be fully operational for production from 2026 to 2027.

SiGE New Energy

Signed energy storage deals exceeding 1GWh in the African market

Recently, SiGE New Energy signed deals exceeding 1GWh in the African market. The signed scope includes large-scale energy projects, PV-plus-storage applications for multiple industries and industrial and commercial use, as well as the construction of a localized distribution network.

In the large-project area, SiGE teamed up with The Energy Gurus and Herholdt’s Group to advance a 100MWh large-scale energy storage project, and also reached cooperation with Solar Energy Africa on a 50MW large-scale energy project; in the industrial-and-commercial storage area, multiple projects at the 20MWh level that SiGE New Energy cooperates on are being rolled out in parallel.

Relying on cooperation with companies such as Herholdt’s Group, SiGE New Energy is accelerating the build-out of a cooperation framework in the African market covering project development, channel connection, engineering implementation, and financing support—especially the application rollout of SiGE’s zero-carbon park industrial and commercial PV-plus-storage solution.

Waylan New Energy

Solid-state battery industrial park settles in Guangzhou

On March 20, the Guangdong Waylan Solid-State Battery Industrial Park and the Solid-State Battery Greater Bay Area Research Institute project, jointly planned and deployed by Waylan New Energy and Guangdong Energy Group’s Guangdong Energy Storage Industry Development Co., Ltd., were signed for Huadu District, Guangzhou, Guangdong Province. The project is expected to invest RMB 2.0 billion, covers an area of about 215 mu, and is expected to achieve an annual output value of RMB 2.4 billion.

EVE Energy Storage

Discuss global production and finance cooperation with Standard Chartered Bank

On March 25, Standard Chartered Bank’s head of international business and chairman of the Hong Kong Financial Development Council, Hong Pi Zheng, led a delegation including board members to visit EVE Energy Storage’s Xiamen headquarters and hold exchanges. Both sides conducted in-depth discussions around core topics such as deepening cross-border business cooperation and enabling enterprises’ global development.

Standard Chartered Bank stated that its global network and financial services capabilities highly align with EVE Energy Storage’s development needs, and it looks forward to continuing to expand the depth of cooperation between both sides. EVE Energy Storage stated that as overseas business accelerates, enterprises put forward higher requirements for efficient, secure global cash management and localized financial services. It hopes to leverage the unique advantages of Standard Chartered’s “super connector” to provide strong support for extending EVE Energy Storage’s global supply chain and business implementation, achieving mutual benefit and win-win outcomes.

CRRC Zhuzhou Institute Co., Ltd. and Energy Engineering Times New Energy

Hold cooperation and exchange talks

On March 24, Energy Engineering Times New Energy held a cooperation and exchange meeting with CRRC Zhuzhou Institute Co., Ltd. Both sides conducted in-depth discussions and reached consensus on core topics including hydrogen energy technology R&D and applications, energy storage system integration, and international business cooperation.

Energy Engineering Times New Energy was established through a joint venture between China Energy Engineering Corporation and Contemporary Amperex Technology Co., Ltd. (CATL), focusing on zero-carbon energy solution packages, construction, investment, operation and management for new energy and energy storage, and electrochemical energy storage system integration. It is committed to providing comprehensive energy consumption solution packages for various application scenarios. Recently, China CRRC Group and China Energy Engineering Group signed a strategic cooperation framework agreement, clarifying that both sides will further deepen cooperation in areas such as strategic planning, technological innovation, co-building the industrial chain, and internationalized business.

Shanghai Electric Power Electronics and Huachu Electric

Reach strategic cooperation

On March 18, a strategic cooperation framework agreement was signed in Beijing between Suzhou Huachu Electric Technology Co., Ltd., a subsidiary of Xinte Electric, and Shanghai Electric Power Electronics Co., Ltd.

Both sides follow the cooperation principles of “sharing risks, sharing resources, innovating the business model, and making it bigger and stronger.” They will achieve prioritized alignment of procurement resources and complement each other. In the future, both sides will jointly develop energy storage projects. Leveraging the advantages of each region’s resources, under market comparison conditions, they will prioritize the other side’s equipment and services to achieve deep integration of technology, production capacity, and the market.

Trina Solar establishes a joint venture company

Expand cross-industry applications of new PV-plus-storage scenarios

On March 26, Trina Solar announced that its wholly-owned subsidiary Tianhe Technology will co-invest together with Xingyuan Asset Management and Xingyao Asset Management, establishing Shanghai Tianxing Energy Technology Co., Ltd. (tentative name) with total investment not exceeding RMB 100 million. Tianhe Technology will contribute RMB 45 million for a 45% stake. Xingyuan Asset Management plans to contribute RMB 30 million for a 30% stake; Xingyao Asset Management plans to contribute RMB 25 million for a 25% stake.

This investment is intended to leverage Trina Solar’s technological accumulation advantages in energy system solutions such as PV and energy storage, and to expand cross-industry applications in related new scenarios.

Editor-in-charge: Ding Kaile

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