Far East Battery wins 240 million Yuan Lithium Battery order in February. Remarkable progress has been made in overseas markets.

This past February, far East shares received contract orders of more than 10 million yuan from subsidiaries totaling 2.22 billion yuan, an increase of 344.41 percent over the same period last year. Among them, the subsidiary far East Battery received more than 240 million yuan in battery orders in February, an increase of more than 700% over the same period last year.

From the point of view of the type of order, the far East battery won an order of 228 million yuan for overseas household energy storage system batteries and 12.8823 million yuan for small power batteries in February.

It is reported that at present, there are mainly two bases for far East batteries: Jiangxi Base (Jiangxi far East Battery Co., Ltd., referred to as "Jiangxi far East Battery") and Jiangsu Base (far East Battery Jiangsu Co., Ltd., referred to as "far East Battery Jiangsu").

Among them, the Jiangsu base of far East Battery is mainly soft package battery, focusing on the development of 50Ah-LFP battery. Through the construction of composite conductive network, optimization of cathode particle size and aluminum foil, the combination of high power, high energy density and long cycle performance is realized, which is mainly used in household energy storage and mobile energy storage market.

Jiangxi far East batteries are mainly cylindrical batteries, focusing on the development of high energy density and medium rate products, which are used in energy storage, light vehicles, vacuum cleaners, power tools and other fields. The company has 18650 battery capacity 4G Whfein 21700 battery capacity 2 GWh.

It is understood that at present, Europe, North America, Australia and Japan have become the main household energy storage markets in the world, with a total market share of more than 90%, of which Europe has become the largest household energy storage market in the world. In the technical route of energy storage battery, overseas energy storage battery includes square, cylindrical and soft package, and the system includes lithium iron phosphate and ternary.

In September 2021, the far East battery made a breakthrough in the overseas energy storage market, winning 43.362 million yuan of European household energy storage system orders that month, and the energy storage business officially entered the European market. As its products have entered the European household energy storage system market, widely recognized by international customers, and its orders continue to grow, the far East battery won another 228 million yuan overseas order in February this year, an increase of nearly five times over September last year.

It is reported that far East battery currently uses "cylinder + soft bag" as a combination to fully serve industrial and commercial energy storage, overseas home energy storage and other areas, providing customized products and solutions. Its energy storage system products have been optimized and developed in the aspects of rate characteristics, charge and discharge efficiency, cycle life, comprehensive electricity cost, and effectively control the cost. the products have been widely used in base station energy storage, household energy storage, medical energy storage and other fields.

In addition, the lithium battery copper foil business of far East Co., Ltd. also achieved good performance in February, with subsidiary Shengda Electric Co., Ltd. signing a new copper foil order of 32.5289 million yuan in February. At present, far East has a capacity of 15000 tons of lithium copper foil and is one of the main suppliers of battery enterprises such as Ningde Times.