Zhejiang Narada Power Source Announces Control Change and Faces RMB 5.5B Unfulfilled Energy Storage Orders

Zhejiang Narada Power Source Co., Ltd. announced plans for a change in control and equity sale in its recycled lead segment, following notification from its controlling shareholders. Trading of Narada Power's shares will be suspended on December 12.

The stock price surged over 14% on December 11, closing up 8.69%, with a market capitalization of 16.51 billion yuan. As of the latest report, controlling party Zhou Qingzhi holds a 10.52% stake through affiliated companies.

Narada Power reported a revenue of 7.984 billion yuan and a net loss of 1.497 billion yuan for 2024, with a 24.80% decrease in revenue for the first three quarters of 2025. The company has approximately 8.9 billion yuan in undelivered orders, including 5.5 billion yuan for utility-scale energy storage, with significant contributions from domestic and overseas markets.