Henan Yicheng New Energy Co Ltd

Henan Pingmei Shenma Energy Storage Company, a controlled subsidiary of Yicheng New Energy, has secured a series of overseas orders, marking a breakthrough for Yicheng New Energy's energy storage business in international markets. The first German 835 kilowatt-hour liquid-cooled outdoor cabinet project has completed final assembly and testing and is about to be shipped to Europe. At the same time, a framework procurement agreement for a gigawatt-level overseas energy storage project was signed. The company is the only provincial state-owned enterprise in Henan focused on the integrated research, development, and manufacturing of energy storage systems. It has built three production lines with a total capacity of 15 gigawatt-hours, and overseas orders account for over 20 percent, mainly covering European countries such as Germany, Croatia, and Lithuania. In April 2025, Yicheng New Energy acquired an 80 percent stake in the energy storage company and increased its capital to 155 million yuan. Leveraging the full industry chain advantages of China Pingmei Shenma Group, it has formed a collaborative closed loop of expanding markets at the front and strengthening delivery at the back. In 2025, Yicheng New Energy's overseas market revenue reached 78.8868 million yuan, a year-on-year surge of 1,534.29 percent, validating the effectiveness of its overseas strategy.