Recently, Shenzhen Xianyang New Energy Technology Co., Ltd. (hereinafter referred to as Xianyang New Energy) has undergone business changes, with its registered capital increasing from 5 million yuan to 495 million yuan, representing a whopping 9800% increase. Concurrent with this increase in registered capital, Contemporary Amperex Technology Co., Ltd. (CATL) has also increased its shareholding in Xianyang New Energy, now holding 99.5051% of the company's shares.

According to available information, Xianyang New Energy, founded in 2018, is a high-tech enterprise integrating research and development, manufacturing, sales, and service. Previously focused on three main business segments - lithium battery equipment manufacturing, photovoltaic energy storage, and vehicle charging and battery swapping - the company specializes in the research, development, and application of advanced power electronics equipment. Its core team members hail from Huawei Electric and Emerson and possess extensive experience in new energy product development and a strong international perspective.

As the energy storage market enters a rapid development phase, Xianyang New Energy leverages power electronics technology and targets the commercial and industrial energy storage market as its entry point. The company is heavily invested in global distributed energy services, particularly in green energy parks and zero-carbon parks, where it boasts significant technological advantages and rich project experience. It is also a pioneer in introducing integrated energy solutions such as "PV + Storage + N" and "PV + Storage + Carbon Reduction."

This capital increase in Xianyang New Energy reflects CATL's strategic layout in distributed energy applications and the energy storage sector. While CATL relies on its globally leading battery cell technology to cover the entire energy spectrum, Xianyang New Energy boasts a deep accumulation of power electronics technology and integrated product capabilities in distributed energy solutions. This complementarity and synergy between the two companies will enhance Xianyang New Energy's product competitiveness and market share while accelerating CATL's expansion in the energy storage market.

It is reported that Xianyang New Energy has established an integrated energy service system encompassing PV, storage, and battery swapping, and possesses capabilities in product research and development, manufacturing, and overall delivery across various complex scenarios. As of September 2024, the company has launched multiple PV-storage product lines, including liquid-cooled energy storage containers (0.93MW/1.86MWh, 1.30MW/2.61MWh, 1.46MW/2.92MWh), liquid-cooled integrated energy storage cabinets (115kW/232kWh, 125kW/261kWh), energy storage converters (115kW/125kW/215kW/250kW), smart equalizers, and PV inverters (320kW/125kW). These products cater to the customized needs of global commercial and industrial customers.

Advanced power electronics technology and R&D platform capabilities are key reasons for CATL's significant investment in Xianyang New Energy. As one of the few companies in the industry with full-stack, in-house R&D capabilities for 3S (sensor, software, service) energy storage systems, Xianyang New Energy has achieved deep integration of 3S technologies. By combining CATL's high-quality battery cells, Xianyang New Energy creates intelligent commercial and industrial energy storage systems that offer higher yields, enhanced safety, and greater convenience for users. Leveraging industry-leading bidirectional energy conversion technology and cutting-edge lithium-ion battery application technology, Xianyang New Energy has established system integration and intelligent operation and maintenance capabilities across scenarios such as renewable energy PV power stations, grid transmission and distribution energy storage stations, and commercial and industrial PV charging stations, providing users with comprehensive solutions and one-stop energy management services.

Entering 2024, Xianyang New Energy's commercial and industrial PV-storage projects have accelerated their deployment across various application scenarios, marking the recognition and validation of the company's technical capabilities and customized solutions by the market. These projects span regions such as Guangdong, Fujian, Jiangsu, Henan, and Shandong, covering high-energy-consuming industries including food, pesticides, data centers, and equipment manufacturing. Meanwhile, Xianyang New Energy has forged strategic partnerships with several leading financial institutions, refining its development model for commercial and industrial PV storage projects. In overseas markets, Xianyang New Energy has achieved initial success in Europe, South Africa, and South America, with several projects entering the implementation stage.

Furthermore, the Phase I construction of Xianyang New Energy's energy storage industry base in Zhuhai was completed in September, further enhancing the company's manufacturing and project delivery capabilities. The commissioning of the Zhuhai industry base not only signifies Xianyang New Energy's expansion in manufacturing scale but also represents the realization of the company's "full-industry-chain energy storage products + automated production lines" strategy. Amidst a general cooling of the commercial and industrial energy storage market and a bleak industry outlook, CATL's substantial investment in Xianyang New Energy undoubtedly reflects its confidence in the long-term development of the energy storage market.