Hunan Corun New Energy Co Ltd

Corun has established a new energy development company in Tianjin. According to the Qichacha app, Corun New Energy Development Tianjin Company Limited was recently incorporated, with a business scope covering energy storage technology services, contract energy management, carbon emission reduction, carbon conversion, carbon capture, and carbon storage technology research and development. Qichacha equity penetration shows that the company is wholly owned by Corun.

Corun released its 2026 semi-annual report, showing first-half operating revenue of 2.479 billion yuan, up 36.11% year-on-year, and net profit attributable to the parent of 56.5036 million yuan, up 10.32% year-on-year. Energy storage product revenue was about 648 million yuan, a 463.5% increase from about 115 million yuan in the same period last year, lifting its share of company revenue to about 26%. Second-quarter revenue alone was about 1.57 billion yuan, up about 68% year-on-year and about 73% quarter-on-quarter, as energy storage projects entered the construction and delivery phase and revenue recognition accelerated. By the end of June, the company had brought six independent energy storage stations into operation in Jingxing, Wangdu, Gushanliang, Zhucheng, Guantao, and Luozhuang, with total installed capacity of 900 megawatts and 2,600 megawatt-hours, and had reserved more than 10 gigawatt-hours of energy storage station projects across multiple regions. In the second half of the year, it plans to invest in about 4 gigawatt-hours through industrial funds or other cooperation arrangements.

Since the beginning of this year, multiple listed companies have joined hands with financial institutions and local state capital to intensively set up energy storage industry funds. Sungrow Power Supply's holding subsidiary Sungrow Renewables, together with Huatai Baoli and Huatai Asset Management, jointly established the Suzhou Huaxu Fund with a total committed capital of 1 billion yuan, of which Sungrow Renewables committed 199 million yuan. The fund will invest in wind power, centralized photovoltaic, and energy storage projects, requiring a single investment installed capacity of over 200 megawatts and an overall capital internal rate of return of no less than 8 percent. Senior Energy Materials participated in setting up the Shenzhen Yuanzhi Xingyuan Venture Capital Fund, planned at 500 million yuan, with Senior Energy Materials committing 151 million yuan, mainly investing in key projects such as headquarters research and development and production manufacturing across the entire new energy storage industry chain. Kaibo Capital, together with CALB, Shengtun Group, Nuode New Materials, Hymson Laser, and Guoxia Technology, initiated the Kaibo Co-creation Fund with a total scale of 5 billion yuan and an initial registered scale of 1.6 billion yuan, covering the entire industry chain of resources, materials, equipment, battery cells, and application scenarios. State capital is also accelerating its entry. Tagen Group, together with Shenzhen Capital Group and Sunwoda, jointly launched the Yuanzhi Jianxin Energy Storage Asset Private Equity Fund with a total scale of 500 million yuan, focusing on electrochemical energy storage stations and integrated solar-storage-charging stations. Corun participated in setting up an energy storage fund with a target scale of 2 billion yuan, with partners including enterprises with state capital backgrounds from the Tianjin Binhai New Area. Mo Ke, founder of Zhenli Research, stated that this model, by combining the industrial resources of listed companies with the power of capital, provides projects with clearer industrial synergy and exit pathways, and has become a common industrial investment approach in the new energy sector.