Kolyuan to Invest an Additional 500 Million Yuan in Energy Storage Industry Fund Expansion

On May 23, 科力远 (600478) announced its intention to collaborate with 中创新航科技集团股份有限公司 to participate in the expansion of the energy storage industry fund. The total committed capital of the fund will increase from 402 million yuan to 1.402 billion yuan. 科力远 will contribute an additional 500 million yuan, raising its total investment to 700 million yuan.

科力远 primarily engages in the battery and materials business, focusing on the entire value chain of nickel-metal hydride batteries. The company consistently ensures the supply of power batteries and materials while maintaining sales in consumer batteries and materials. Additionally, it is positioning itself in the upstream lithium battery supply chain, establishing an integrated process that includes mining, ore selection, and lithium carbonate processing, backed by its own mining operations. This integration provides essential raw materials for the downstream lithium battery and energy storage markets.

In January 2024, to meet its strategic development needs and enhance its capabilities in the energy storage sector, 科力远 partnered with 中创新航, 凯博（湖北）私募基金管理有限公司 (referred to as “凯博资本”), and 深圳市元科慧储投资有限公司 (referred to as “元科慧储”) to jointly invest in the establishment of the energy storage industry fund.

As disclosed, on May 22 of this year, the energy storage industry fund had already invested 163 million yuan in projects involving the construction of independent energy storage stations by companies such as 井陉科瑞新能源科技有限公司 and 望都科瑞数智新能源科技有限公司. Among these projects, the 200MW/400MWh independent station in 井陉 is a key project for Hebei Province, which successfully connected to the grid in December 2024 and completed commercial operations by February 2025. Similarly, the 100MW/200MWh independent station in 望都 successfully connected to the grid in March 2025 and commenced commercial operations by May 2025.

Furthermore, the 100MW/200MWh independent station project led by 博野科瑞数智新能源科技有限公司 and the one led by 诸城浩昱新能源科技有限公司 have received the necessary approvals to begin construction.

科力远 stated that it will contribute to the energy storage industry fund in stages based on the actual progress of the projects. 中创新航 will also make contributions in accordance with the same timing and proportion as 科力远.

The company emphasized its commitment to leveraging upstream lithium ore and lithium carbonate resources to extend its reach within the energy storage ecosystem. It aims to collaborate with high-quality upstream and downstream enterprises in the energy storage industry chain, creating a strong partnership to jointly expand the energy storage market and promote mutual growth.

Additionally, 科力远 plans to engage with government industry funds, financial institutions, and social capital to participate in the energy storage industry fund, thereby empowering the entire industry chain.

This participation in the fund expansion is based on the successful business model from previous investments. Expanding the fund’s size is expected to accelerate the company’s integrated development, cultivate new economic growth points, enhance core competitiveness, and optimize profitability structures, ultimately strengthening its capital operation capabilities.

Financial reports indicate that in 2024, 科力远 achieved an operating income of 3.938 billion yuan, a year-on-year increase of 6.30%. The net profit reached 78.14 million yuan, marking a return to profitability. In the first quarter of this year, 科力远 continued its growth trajectory, achieving an operating income of 886 million yuan, up 39.20% year-on-year, with a net profit of 36.94 million yuan, a 9.5% increase.

According to a prior announcement, 科力远 is actively expanding its energy storage project investments in provinces and regions including Hebei, Shandong, Guangdong, Jiangsu, Zhejiang, and Inner Mongolia in collaboration with members of the large energy storage ecosystem innovation alliance.

Based on an announcement made on April 28, 2025, regarding potential guarantees for energy storage project companies, 科力远 is expected to acquire two independent energy storage stations, each with a capacity of 100MW/200MWh, located in Baoding City, Hebei Province, and Zhucheng City, Shandong Province.

科力远 expressed that it intends to use these independent energy storage stations as a starting point to promote additional application scenarios, thereby further expanding its influence within the energy storage industry and positively impacting its core business.

The year 2025 is anticipated to be a breakthrough year for 科力远’s energy storage business.