Great Power Delivers Impressive Q1 Results: Revenues Nearly Triple, Ranks 2nd Globally in Residential ESS Cell Shipments

On the evening of April 28, Guangzhou Great Power Energy and Technology Co., Ltd. (hereinafter short as Great Power) released its 2025 annual report and Q1 2026 quarterly report. The company's revenue and profit rose significantly, with its energy storage business delivering outstanding performance.

Impressive Results: Revenues sustained high growth, up nearly 200% YoY in 2026 Q1

Its financial report showed that in full-year 2025, the company achieved total revenue of 11.943 billion yuan, up 50.04% YoY; net profit attributable to shareholders of the publicly listed firm reached 206 million yuan, up 181.61% YoY.

Entering 2026, Great Power's performance continued its high growth trajectory. According to its Q1 financial data, the company achieved total revenue of 4.768 billion yuan, up 182.14% YoY. The company's energy storage business shipments and revenue both grew QoQ, demonstrating strong growth resilience, with Q1 profit alone already surpassing the full-year figure of last year.

Great Power's 2025 performance growth momentum stemmed from the synergistic contribution of three major businesses — energy storage, consumer, and power battery:

• The energy storage business, leveraging its leading product competitiveness and global expansion advantages, became the core growth engine;
• The consumer battery business consolidated its fundamental position, maintaining steady operations;
• The power battery business focused on differentiated niche segments, continuously broadening incremental space, forming a well-balanced development pattern.

Meanwhile, based on its three-year capacity plan and R&D progress of downstream popular products, the company expects its capacity utilization rate to stay high over the next three years, with performance expected to maintain strong growth momentum.

Impressive  Residential ESS Performance: Battery Cell Shipments Ranked Second Globally, Behind-the-meter (BTM) ESS Ranked Top Two in China 

As one of the earliest industry leaders in China to enter the ESS sector, Great Power has achieved remarkable results in the residential ESS field. In 2025, the company's residential ESS battery cell shipments ranked second globally, and its BTM ESS shipments ranked top two in China and top five worldwide; in the commercial and industrial segment, ESS shipments ranked top two in China; its full-scenario energy storage deployment yielded significant results.

In addition, the company's large-scale overseas energy storage orders achieved breakthrough growth, with full-year 2025 revenue reaching 1.793 billion yuan, up 72.98% YoY, demonstrating clear results from its globalization strategy.

ESS Battery Cell QoQ Growth Tops the List, Consolidating Its Position in the Global Tier 1

With undeniable strength, Great Power was shortlisted in the 2026 SMM Global Tier 1 ESS battery cell list, ranking first in terms of QoQ growth in ESS battery cell shipments. The company's ESS battery shipments have remained in the global top eight for multiple consecutive years, with a solid industry position. 

Production and Sales Boom: Orders Booked Through Q2 2026, Core Energy Storage Lines Operating at Full Capacity  

As early as the end of 2025, an executive of Great Power stated that the company's overall production and operations were showing positive trend, with all energy storage product lines maintaining full production and sales, and orders booked through Q2 2026. On the core energy storage product manufacturing side, the 314Ah utility-scale ESS battery cell line as well as the 100Ah and 50Ah BTM ESS battery cell lines all operated at full capacity. The company is steadily expanding capacity in line with market demand. Currently, the Phase II plant at the Quzhou base has been completed, with mass production of 587Ah large-capacity battery cells expected in 2026. Orders from domestic clients have already been secured, and ex-China demand is expected to be gradually released in 2027.