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On January 5, Highpower Technology announced plans to raise up to RMB 800 million through a share placement to a maximum of 35 investors. The funds will support two projects: RMB 448 million for an energy storage battery construction project in Tonghu Industrial Park, Huizhou, aiming for an annual production capacity of approximately 3 GWh, and RMB 418 million for a steel-cased laminated lithium battery project, targeting an annual capacity of about 32 million units.

Highpower's semi-solid-state batteries are set for mass production in 2025, with preparations underway for a pilot line for all-solid-state batteries. The energy storage market is expected to thrive by 2026, driven by AI infrastructure and energy transition demands. In the first three quarters of 2025, the company reported a revenue of RMB 4.391 billion, a 16.06% increase year-on-year, and a net profit of RMB 175 million, up 125.90% year-on-year.