Lithium ion battery manufacturer Sunwoda announced that jointly with Tagen Group and Shenzhen Capital Group, it has established the Yuanzhi Jianxin Energy Storage Asset Private Equity Fund. The fund has a total scale of RMB 500 million. Its investment focus will be primarily on high-quality projects in the new energy storage sector, including electrochemical energy storage power stations, integrated solar-storage-charging stations, and energy management systems. Currently, the fund has already reserved a batch of projects across regions such as Guangdong, Zhejiang, Anhui, and Hebei.
In an announcement, solar wafer maker Huamin Holdings said that it has signed a cooperation agreement on space photovoltaics with Hunan Kongtian Kinetic Energy Technology Co., Ltd., a company focused on the R&D of commercial aerospace energy systems. As per the agreement, both parties will collaborate on the application of flexible crystalline silicon solar cells in space PV systems, jointly establish a testing and R&D platform, and conduct joint technology development and product performance upgrades for space-use solar cells. Huamin stated that it has already provided various specifications of dedicated P-type HJT wafers to multiple companies for related testing.
Polysilicon producer GCL Tech announced that the company, in collaboration with a state-owned industrial investment enterprise in Leshan, Sichuan Province, has jointly established a fund investment company named Leshan Xinneng Cathode Material Equity Investment Fund Partnership (Limited Partnership). The partnership has a total registered capital of RMB 1.85 billion. The majority shareholder, Leshan Sci-Tech Innovation Industrial Investment (Group) Co., Ltd., holds approximately 76%, while GCL Tech and its affiliates hold about 24%. This move is considered a further step by GCL to advance its layout in energy storage battery manufacturing. Earlier in February, public information from the Leshan government revealed that an indirect subsidiary of GCL Tech plans to build a new project in Leshan with an annual production capacity of 400,000 MT of lithium iron phosphate (LFP) cathode materials.
The Jilin Provincial Development and Reform Commission and the Energy Administration have released a trial implementation plan for the development and construction of green power direct supply projects in the province. The plan stipulates that the overall renewable energy self-consumption must account for no less than 30% of total electricity consumption (increasing to at least 35% for new projects from 2030 onwards) and no less than 60% of total available power generation. Regarding excess power sent to the grid, the cap is set at 40% for new load projects commissioned in or before 2028, and tightened to 20% for projects commissioned after 2028 as well as for existing load projects. All grid-exported electricity from green power direct supply projects must participate in power market trading and will be excluded from the renewable energy sustainable development pricing mechanism.
HJT manufacturer Leascend's said that its application to issue shares to specific targets, originally submitted in 2025, has recently been approved by the Shenzhen Stock Exchange (SZSE). The company plans to raise up to RMB 470 million through this issuance, with the sole target being its controlling shareholder, Hainan Leascend Technology. All raised funds will be used to supplement working capital and repay interest-bearing liabilities.
Leascend has reported consecutive losses over the past three years. Its net losses attributable to shareholders from 2023 to 2025 were RMB 39.74 million, RMB 110.32 million, and RMB 147.00 million, respectively. In the first nine months of 2025, the company posted an operating revenue of only RMB 294.63 million, while total liabilities soared to RMB 2.02 billion. The funds obtained from this share issuance to its controlling shareholder are expected to alleviate some of the financial pressure on the company.
