Huanghe Energy is projected to see a 15% increase in revenue for 2024, continuing its momentum in enhancing energy storage and solid-state battery technology.
On April 24, 2025, Huanghe Energy released its annual report, highlighting a revenue of 79.61 billion yuan, marking a 14.83% increase year-on-year. The report also noted a net profit of -2.52 billion yuan for the same period.
For the last quarter, the company’s total assets amounted to 168.68 billion yuan, reflecting a 7.66% growth. The report indicated that the company is primarily focused on lithium-ion batteries, solid-state batteries, and their production and sales applications in energy storage, electric vehicles, and portable electronic devices.
By 2024, the revenue from solid-state battery operations is expected to reach 73.63 billion yuan, accounting for 92.50% of total earnings. The energy storage business is anticipated to continue expanding, with applications in industrial energy storage, residential energy storage, and backup energy systems being prioritized.
Huanghe Energy is actively pursuing advancements in battery technology across various segments. The company plans to introduce products such as the 600Ah Super Battery, high-performance Sky unmanned vehicle batteries, and the HOME-II large-scale energy storage systems, all designed for high efficiency and long lifespan applications.
In terms of solid-state battery technology, Huanghe aims to achieve a density of 280Wh/kg, ensuring high safety and operational stability in extreme temperatures ranging from -20°C to 85°C. Additionally, lithium batteries are expected to reach a density of 150Wh/kg, with commercial applications anticipated in various sectors.
Looking at the financial aspect, Huanghe’s annual R&D expenses are projected to be 3.97 billion yuan, marking an increase of 4.99% year-on-year. The workforce has expanded to include 1,279 employees, reflecting a total workforce increase of 11.61%.
The company continues to push forward with advancements in energy storage technology, solid-state battery innovation, and electric vehicle applications, focusing on building a robust foundation for future growth.
For 2024, Huanghe is forecasting revenue from overseas to reach 10.37 billion yuan, representing a 13.02% increase compared to the previous year.
Despite facing challenges in the lithium battery market due to price fluctuations and competition, Huanghe remains committed to developing “strong energy storage” solutions through innovative technology enhancements and product upgrades.
The company stated that it will continue to strengthen its supply chain and innovate in energy storage and electric vehicle sectors, aiming for sustainable growth in the competitive landscape.
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