Hunan Corun New Energy Co., Ltd.

Company Profile

■URL

https://www.corun.com/

■Address

East side of Linyi Avenue, Chenzhou High-tech Industrial Park, Hunan Province, China

Business Overview

-A leading supplier in China engaged in the design, development, production, and sales of hybrid powertrain systems and other products, as well as the manufacture of components for New Energy Vehicles.

The Company operates three lines of business:

  • Battery materials: Foamed nickel (positive electrode material), porous nickel-plated steel strip (negative electrode material), drive battery positive/negative electrode, alloy powder (negative electrode material)
  • Batteries and battery packs: Lithium battery packs (for ride-sharing electric bikes, smart houses), nickel metal hydride power batteries (for hybrid vehicles, trains, etc.)
  • Hybrid system assemblies: CHS1800/2800 series (for passenger cars), CHS3800 series (for light-duty trucks and medium-duty buses), CHS18000/28000 series (for medium-  and heavy-duty trucks and heavy-duty buses)

-The company's HEV power battery material industrial chain achieved sales of 420,000 sets in 2022.

-The company announced that it has signed an agreement with the People's Government of Yifeng County, Yichun, Jiangxi Province for investment projects. The Corun Group will launch three plant construction projects in the Yifeng County People's Government Industrial Park: a 30,000-ton battery lithium carbonate materials plant, a 60,000-ton high-power lithium iron phosphate cathode materials plant, and a hybrid power technology platform plant. With a total investment of more than CNY 3.5 billion, construction is scheduled to be completed and production to begin within 24 months after project approval.

Shareholders

-Listed on Shanghai Stock Exchange (As of Dec.31, 2022)
Major Shareholders Share ratio (%)
Hunan Corun Hi-Tech Holding Co., Ltd. 12.34
Geely Group Company Limited 10.46
Faping ZHONG 6.14
Others 71.06
Total 100.00

Products

Batteries

-Nickel foam
-Ball nickel
-Alloy powder
-Steel strips
-Positive films
-Negative films
-Single batteries
-Battery modules
-Lithium batteries
-NiMH batteries
-Nickel-zinc batteries
-Power batteries
-Power battery packs
-Oil cooled battery packs

Hybrid powertrain system

-HT: Hybrid transmissions
-EMS: Engine management systems
-Oil pump control units
-BMS: Battery management systems
-PEU: Power electronics units
-HCU: Hybrid control units

History

1998 Changsha Liyuan New Material Co.,Ltd. (former) was established.
Sep. 2003 Changsha Liyuan New Material Co.,Ltd. listed on the Shanghai Stock Exchange.
Jan. 2008 Changsha Liyuan New Material Co.,Ltd. completed the shareholding system reform, and changed name to Hunan Corun New Energy Co.,Ltd.
Nov. 2009 National Engineering Research Center of Advanced Energy Storage Materials Co.,Ltd. was formlly approved by the National Development and Reform Commission.
Jan. 2011 In Japan, acquired Shonan Plant of Panasonic Corporation.
Oct. 2013 The Changshan Plant started automatic production of Ni-MH automotive batteries.
Oct. 2014 Established a joint venture Corun Hybrid Technology Co., Ltd. with Geely. 
Aug. 2014 Established a joint venture Corun Peve Automotive Battery Co., Ltd. with PEVE and Toyota.
Sep. 2016 The Changshu Plant formally put into operation.
Sep. 2016 Signed an investment agreement with Geely, Chang'an and Yunnei Power, to build the CHS platform.
Dec. 2016 CHS system products were released.
Jun. 2017 CHS established a joint venture with Yunnei Power, a domestic diesel engine leader, to develop deep hybrid diesel powertrains.
Sep. 2017 The Foshan Hybrid Powertrain Industrial Plant started production.
Jun. 2018 The Corun CHS Foshan plant officially went into production.
Oct. 2018 The Company acquired a stake of 36.97% in Corun Hybrid Technology Co., Ltd. (CHS) from Geely Group and Shanghai Maple Automobile Co., Ltd (SMA) .
Aug. 2019

Construction of production plant to manufacture automotive batteries and core materialsbegan in Foshan. The Company led in financing the project.

Oct. 2020

Established f a wholly owned subsidiary, Yiyang Keli Yuanxin Energy Co.

Dec. 2020 Established Foshan Jinchuan Energy Technology Co., by another subsidiary Lanzhou Jinchuan Energy Battery Co., Ltd.

Supplemental Information 1