We are a leading company in energy storage business for big-data and telecommunication industries. We focus on the design, R&D, manufacturing, and sales of energy storage batteries and systems.
As of December 31, 2024, we have served five of the world’s top ten telecom operators and equipment manufacturers, nearly 30% of the world’s top 100 telecom operators and equipment manufacturers, and all of China’s top five telecom operators and equipment manufacturers. We have served 80% of top 10 Chinese self-owned data center companies and 90% of top 10 Chinese third-party data center companies. We have served our top five customers in 2022, 2023 and 2024 for an average of over ten years. According to Frost & Sullivan, in 2024, we ranked the first among global telecom and data center energy storage battery providers in terms of shipment volume, achieving a market share of 11.1%. According to Frost & Sullivan, in 2024, we ranked the twelfth among global energy storage battery providers in terms of added installed capacity, achieving a market share of 2.5%.
Our Market Opportunity
The global energy market is undergoing a profound transformation from fossil fuels to renewable energy. The evolving global trend toward electrification further drives significant collaboration among new energy, energy storage, and smart grids, promoting sustainable development of green economy and rapid growth of the global energy storage market. According to Frost & Sullivan, global energy storage cumulative installed capacity is expected to increase from 746.8 GWh in 2024 to 6,810.1 GWh in 2030.
‧ Telecom base stations: In recent years, along with the rapid global expansion of 5G telecom base stations, the upgrading and development of telecommunication technology are expected to continue to drive robust demand for infrastructure development. According to Frost & Sullivan, the cumulative number of global telecom base stations is expected to increase from 21.0 million units in 2024 to 43.9 million units in 2030, which will drive the global added installed capacity of telecom energy storage to rise from 43.9 GWh in 2024 to 100.2 GWh in 2030.
‧ Data centers: The advent of the AI era is also accelerating the industry trend towards large-scale and high-computing power data centers. According to Frost & Sullivan, the proportion of global electricity consumption by data centers is expected to increase from 4.0% in 2024 to 10.1% in 2030. During this process, driven by global pursuit of clean and secure energy source, there has been a rapid growth in market demands for energy storage products. According to Frost & Sullivan, the global added installed capacity of data center energy storage is expected to increase from 16.5 GWh in 2024 to 209.4 GWh in 2030.
Our Journey and Strategic Evolution
Founded in 2011 in Taizhou, Jiangsu Province in China, we have demonstrated reliability and high quality of our batteries and services over the past decade. We have continually expanded our business, established a strong global reputation, and built brand influence, laying a solid foundation for our long-term sustainable development.
‧ Energy storage for telecom base stations: At the outset, we entered the energy storage sector for telecom base stations, establishing long-term cooperation relationship with leading telecom operators and equipment manufacturers in China, including China Mobile, China Unicom, China Telecom, and China Tower. We have continuously expanded our overseas presence, and have successfully entered into supply chains of many world-renowned enterprises to provide energy storage battery products for telecom base stations, including Ericsson, Vodafone, and Telenor. According to Frost & Sullivan, in 2024, we ranked first in terms of shipment volumes in the global telecom base station energy storage market. In 2024, our market share in the global telecom market reached 9.2%.
‧ Energy Storage for Data Centers: With the penetration and promotion of big data, technologies, energy storage batteries for data centers have become essential products for ensuring data security and energy security. In 2018, we keenly identified the market demands of the internet era and began establishing cooperation relationship with large tech companies and data center operators. Since 2018, we have successively collaborated with Alibaba, JD.com, Baidu, GDS, and ChinData. In 2022, we innovatively developed the first large-scale dual-function energy storage plan incorporating ‘‘backup power + power storage and management’’ for data centers in China, and supplied our products to the Xiong’an Urban Supercomputing Center, contributing its successful achievement of being recognized as national green data center. Up to the Latest Practicable Date, our energy storage products have been used in hundreds of data centers. According to Frost & Sullivan, in 2024, we ranked first among Chinese companies in terms of shipment volumes in the global data center energy storage market. In 2024, our market share in the global data center market reached 16.1%.
‧ Electrical Energy Storage Settings: Leveraging advanced technology and manufacturing capacity, we are committed to expanding our presence in the electrical energy storage settings, where we have successfully captured market opportunities brought up by sectors in large-scale power grid energy storage, and commercial and residential storage settings. In particular, we have participated in, as a key supplier of energy storage products and system, the development of the State Grid Zhangbei Energy Storage System Project, which started operation since 2011 as the world’s largest new energy power station in terms of installed capacity integrating wind power, solar PV, energy storage systems, and intelligent power transmission as of the Latest Practicable Date. We have subsequently launched energy storage projects across China, as well as in Cambodia, Mongolia, Guinea and Central Africa. In 2016, we began developing energy storage batteries in commercial and residential settings. As a well- recognized brand, our products are sold in Europe, Africa, Asia, and 18 other countries and regions. According to Frost & Sullivan, in 2024, we are one of the leading Chinese companies in terms of shipment volume of energy storage batteries in commercial and residential settings.
Source: Shuangdeng (06960) Prospectus (IPO Date : 2025/08/18) |