1. Two Industry Alliances Issue Accounts Payable Standards, 11 Leading Battery & Energy Storage Companies Pledge Compliance

On June 29, the China Automotive Power Battery Industry Innovation Alliance and the Zhongguancun Energy Storage Industry Technology Alliance jointly released the Initiative on Supplier Payment Guidelines for Power and Energy Storage Battery Enterprises, with the Ministry of Industry and Information Technology (MIIT) publicly expressing full support.

The initiative sets a unified 7-working-day standard for equipment acceptance and establishes a maximum compliant payment term of 60 days. Eleven leading enterprises, including Contemporary Amperex Technology Co., Ltd., (CATL) and CALB Group Co., Ltd., were the first to sign the self-discipline commitment. 

As the first dedicated supply chain payment guideline for the lithium battery and energy storage sector, the initiative is expected to help ease long-standing payment delays faced by small and medium-sized supporting suppliers, improve cash flow across the industry chain, strengthen companies’ confidence in capacity expansion and R&D investment, and provide institutional support for the industry’s recovery from its cyclical downturn.

2. Three Energy Storage Firms Intensively File for Hong Kong IPOs, Signaling a Listing Wave in the Overseas Energy Storage Track

In mid-to-late June, Cubenergy and Growatt simultaneously filed their listing applications with the Hong Kong Stock Exchange on June 16, followed by Dyness filing its initial prospectus on June 26. All three energy storage companies have entered the Hong Kong IPO pipeline, with a notable overseas-oriented profile.

Dyness primarily focuses on residential and commercial and industrial (C&I) energy storage, ranking fifth globally in residential energy storage shipments in 2025, with overseas revenue accounting for over 95%. Cubenergy specializes in utility-scale energy storage in Europe, holding the top market share among Chinese manufacturers in the Nordic region. Growatt filed its third listing application, shifting its business focus from inverters to energy storage systems, with over 80% of its revenue generated overseas.

All three companies derive more than 80% of their revenue from outside China, with Europe as their core market, making overseas energy storage demand a key driver of their performance. This concentrated IPO wave confirms the accelerated globalization of domestic energy storage enterprises and indicates that the industry is entering a new phase of capital market validation. Of note, Growatt has outstanding social security and housing fund compliance issues, which could create uncertainty regarding its listing process.

3. NDRC Order No. 41 Takes Effect on July 1, Classifying Grid-Related Deficiencies in Energy Storage as Major Safety Hazards Subject to Mandatory Supervision

Effective July 1, the "Provisions on the Determination and Governance Supervision of Major Electric Power Accident Hazards" officially came into force, for the first time classifying grid operational abnormalities in electrochemical energy storage stations—such as non-compliance with low-voltage ride-through (LVRT) and frequency regulation response requirements—as major safety hazards.

After the transition period, existing and newly built energy storage stations that fail to meet grid-connection performance standards will face penalties including suspension for rectification and grid-connection restrictions. Previously, such requirements were only recommended standards; the new regulation upgrades them to mandatory supervisory provisions, compelling energy storage system manufacturers to enhance PCS and BMS performance.

This will accelerate the phase-out of substandard capacity and promote the standardized implementation of safety operation standards in energy storage stations.

4. BYD Energy Storage Secures a 600 MW/2.4 GWh Major Contract in Poland, Building the Country’s Largest Benchmark Energy Storage Project

On July 1, BYD Energy Storage announced that it had signed an agreement with European energy developer Greenvolt Power to jointly develop the Siedlce energy storage project in Poland. The project has a capacity of 600 MW/2.4 GWh and, once completed, will become Poland’s largest grid-scale battery storage facility.

Construction is scheduled to begin in the third quarter of this year, with commercial operation targeted by the end of 2027. The project will benefit from Poland’s capacity market mechanism to secure long-term stable returns.

BYD will supply its self-developed BYD Haohan high-capacity energy storage system, equipped with 2710 Ah dedicated blade batteries for energy storage applications, offering higher per-container capacity and effectively reducing land and infrastructure investment.

This marks the third collaboration between the two parties in Poland. Previous projects totaled 1.6 GWh, bringing their combined cooperation in the region to 4 GWh. The project further consolidates BYD’s competitive edge in the Central and Eastern European energy storage sector, leveraging its local production capacity in Hungary to meet EU compliance requirements and continuously expand its utility-scale energy storage market share in Europe.

5. Tesla Q2 Energy Storage Deliveries Reach 13.5 GWh, up 53% Quarter-on-Quarter

On July 2, Tesla released its Q2 2026 operational data, showing that global energy storage system deliveries rose to 13.5 GWh, up 53% from 8.8 GWh in the previous quarter and up 40% year on year from 9.6 GWh in Q2 2025, once again setting a new quarterly delivery record.

6. China Resources New Energy Lists on the Shenzhen Stock Exchange, Soaring 178% on First Day to a Market Cap Exceeding RMB 365.2 Billion

On July 2, China Resources New Energy officially listed on the main board of the Shenzhen Stock Exchange at an offering price of RMB 10.11. The stock opened sharply higher, surging as much as 178% during the trading session to reach RMB 28.08, corresponding to a market capitalization of over RMB 365.2 billion. This IPO set a new record for the largest IPO fundraising amount in the history of the Shenzhen Stock Exchange, raising a total of RMB 24.5 billion, all of which will be invested in new wind and solar power station projects.

Founded in 2010, the company is a wholly-owned subsidiary of Hong Kong-listed China Resources Power and is ultimately controlled by the central state-owned enterprise China Resources. It serves as the group's core specialized platform overseeing wind and photovoltaic development and operations. Its business footprint covers 31 provincial-level regions across China, with projects prioritized in areas rich in wind and solar resources and with strong grid absorption capacity. Its wind and solar utilization hours have consistently outperformed the industry average, placing the company among the top tier of domestic new energy power generation operators.

The listing broadens its access to direct financing, which will support the continued expansion of energy storage systems supporting wind and solar projects and large-scale renewable energy bases.

7. Guangzhou Futures Exchange Opens Lithium Carbonate Futures and Options to Overseas Participants, Strengthening China’s Global Pricing Influence for Battery Raw Materials

On July 3, the Guangzhou Futures Exchange officially opened lithium carbonate futures and options to overseas participants as a designated product category, allowing direct foreign participation. This marks a key internationalization step following QFI access and the Exchange’s first new-energy metal product open to overseas participants.

Foreign clients can open accounts through domestic futures firms or overseas intermediaries, with USD foreign exchange accepted as margin collateral. Global lithium miners, traders, and overseas battery manufacturers can participate in hedging activities.

Lithium carbonate is a core raw material for energy storage and power batteries. As the world’s largest lithium consumer and importer, China previously only provided overseas companies with reference prices, while they can now directly participate in price discovery.

The move integrates global supply and demand information, improves international price discovery, provides standardized risk management tools for domestic and overseas energy storage and lithium battery companies, and promotes the “Guangzhou Lithium Price” as a global trading benchmark. It further enhances China’s pricing influence in upstream new-energy materials and supports stable raw material supply across the industrial chain.

8. Saudi Arabia Announces Pre-Qualification Results for 12 GWh Energy Storage Projects, with 7 Chinese Companies Shortlisted

The Saudi Power Procurement Company (SPPC) announced the pre-qualification list for its second batch of large-scale energy storage projects. The projects total 3 GW / 12 GWh and include six 500 MW / 2,000 MWh standalone energy storage facilities, all featuring 4-hour durations under the BOO model.

A total of 27 domestic and international companies passed pre-qualification, with 7 Chinese companies shortlisted, ranking first among all countries. The shortlisted Chinese firms include China Longyuan Power, China Southern Power Grid International, Envision Energy, Gotion High-Tech, PowerChina, SPIC Shanghai Electric Power, and Huaneng Shanghua Investment, covering power generation state-owned enterprises (SOEs), system integrators, and battery cell manufacturers.

Winning bidders are required to establish wholly-owned project companies and sign long-term energy storage service agreements. This pre-qualification round highlights the competitiveness of China’s full energy storage value chain, creating a key opportunity for Chinese companies to expand in the Middle Eastern new-energy market and secure large-scale overseas utility-scale energy storage projects.