Gasgoo Munich- EVE Energy (300014.SZ) released its semi-annual report on August 19, 2026. Amid intensifying global competition and volatile upstream raw material prices, the veteran battery maker posted strong growth in both revenue and profit.
Revenue jumped 62.2% to 45.69 billion yuan in the first half, while net income attributable to shareholders soared 105.66% to 3.30 billion yuan. Excluding non-recurring items, profit climbed 111.89% to 2.45 billion yuan.
Image source: Screenshot from EVE Energy's 2026 Semi-annual Report
On a quarterly basis, revenue hit 25.01 billion yuan in the second quarter, with net profit reaching 1.86 billion yuan — gains of 21% and 28% respectively from the previous three months. Profitability improved quarter-over-quarter.
Three Business Segments Grow in Sync, Driving 105.66% Profit Surge
By segment, EVE Energy's consumer batteries, power batteries, and energy storage batteries all posted robust gains, creating a balanced growth structure.
The consumer battery division generated 6.41 billion yuan in revenue for the first half, up 26.22%, with a gross margin of 22.64%. EVE Energy has led domestic sales and exports of lithium primary batteries for a decade and topped global rankings for five years running. In cylindrical batteries, it ranked first in China and fourth globally by shipments in 2025. Strategic moves into emerging sectors — including robotics, low-altitude economy, and medical batteries — are also taking shape.
Image source: Screenshot from EVE Energy's 2026 Semi-annual Report
Power battery revenue climbed 53.31% to 17.28 billion yuan. The standout was the 46-series large cylindrical format: as the first Chinese firm to mass-produce and install these cells, EVE Energy has secured a spot as the launch supplier for BMW's next-generation vehicles. The commercial vehicle sector also delivered, with the company covering 90% of China's top OEMs and all top 10 heavy-duty truck clients. SNE Research data ranks EVE Energy second globally in commercial vehicle battery installations.
Revenue from energy storage batteries surged 69.15% to 15.09 billion yuan. EVE Energy shipped 48 GWh in the first half of 2026, capturing a 10.4% market share and climbing to the No. 2 spot globally from third place a year earlier, according to SNE Research. The company became the first globally to mass-produce 600Ah+ large-format LFP storage cells, with its 628Ah "Mr.Big" cell now in volume delivery.
In terms of volume, power battery shipments reached 35.76 GWh — a 66.47% jump — while energy storage shipments hit 44.46 GWh, up 54.88%. EVE Energy ranked seventh globally for power battery installations, with a 51.7% surge that placed it among the fastest-growing in the top ten, SNE Research reported.
Large Cylindrical, Large LFP, and Solid-State Batteries All Gain Traction
EVE Energy's rapid growth stems from years of forward-looking tech bets finally paying off.
In 46-series large cylindrical batteries, EVE Energy was first to mass-produce and integrate into BMW's next-generation supply chain. In large-format storage, its 628Ah cell is pushing the industry into the 600Ah+ era. On the solid-state front, the "Longquan No. 3" and "No. 4" cells rolled off the production line in Chengdu this March, targeting consumer electronics and power applications respectively. Additionally, the company's sodium-ion batteries are commercially ready, with volume deliveries for storage and light mobility expected to begin later this year.
On capacity, EVE Energy plans to add roughly 260 GWh of large-format LFP production domestically, having secured sites across Guangdong, Hubei, Jiangsu, Fujian, and Zhejiang. Internationally, construction is accelerating at its Malaysia hub, designed to serve Asia and global markets, while its Hungary plant — located near BMW's Debrecen factory to maximize regional supply chain synergies — is steadily advancing.
R&D spending hit 1.70 billion yuan in the period, up 34.96%, with a team of over 6,000 and more than 17,000 patents filed or granted globally. Bolstered by a "triple-engine" strategy — steady income from consumer batteries, rapid growth in power batteries, and global leadership in storage — EVE Energy is accelerating toward a new phase of scale, targeting the 100 billion yuan revenue milestone.
