Daemyung Energy Secures KRW 67 Billion BESS Contracts

On April 16, Zhejiang Huayou Cobalt Co., Ltd. released its first quarter report for 2026. During the reporting period, Huayou Cobalt achieved operating revenue of 25.804 billion yuan, a year-on-year increase of 44.62%; total profit of 3.692 billion yuan, a year-on-year increase of 100.49%; net profit attributable to shareholders of the listed company of 2.497 billion yuan, a year-on-year increase of 99.45%; and net profit after deducting non-recurring gains and losses of 2.070 billion yuan, a year-on-year increase of 68.76%. As of the end of the first quarter, Huayou Cobalt's total assets reached 174.669 billion yuan, an increase of 9.55% compared to the end of the previous year.

On April 16, Easpring disclosed that it is accelerating the layout of its lithium iron phosphate integrated business. Beijing Easpring Material Technology Co., Ltd. signed "Equity Transfer Agreements" on April 15, 2026, with Zhejiang Youshan New Material Technology Co., Ltd. and Yunnan Yuntianhua Co., Ltd. regarding the transfer of partial equity interests in Yunnan Youtian New Energy Technology Co., Ltd. and Yunnan Yunyuneng New Materials Co., Ltd., respectively. Easpring plans to use its own or self-raised funds totaling 145 million yuan to purchase 51% equity in Youtian Technology and 49% equity in Juneng New Material held by Youshan Technology.

On April 17, the State Council Information Office held a press conference in the series of "Starting the 15th Five-Year Plan," The development of the low-altitude economy must take safety as a prerequisite — without safety, there is no low-altitude economy. At the same time, it should be underpinned by industry, with consolidating and enhancing industrial development advantages as the guiding orientation. Efforts should be made to intensify the development of new-type aircraft such as large-payload fixed-wing unmanned aerial vehicles and long-endurance vertical take-off and landing aircraft, build a spectrum of key low-altitude equipment, drive supporting industries along the upstream and downstream chain, and develop comprehensive cluster development hubs tailored to local conditions.