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Midea Group: Investing in Clou, expanding the energy storage track

published: 2022-12-12 17:48

On December 7, 2022,Clou announced that on December 6, 2022, the company received a notice from Shenzhen Capital that about 126 million shares of the company held by Shenzhen Capital had been transferred to Midea Group. After the transfer, Midea held Clou 8.95% of the total share capital, becoming the second largest shareholder of the company.

Midea Group previously announced that it will use Clou as one of the main platforms for energy management business in the future, and give full play to Clou's resources and technical advantages in the field of energy storage. Clou has mastered the independent research and development capabilities of battery PACK, PCS, BMS and EMS. In the first half of 2022, the company signed a total of 755MWh containerized battery energy storage system supply contracts with well-known American energy companies, and the order scale continued to expand.

In addition, in July 2022, the first phase of the company's Yichun energy storage production base (with an annual production capacity of 3GWh) was officially put into operation; the second phase of the "5GWh annual production capacity energy storage battery project" has signed the "Cooperation Framework Agreement". The newly added 8GWh energy storage business capacity is expected to fully support the company's simultaneous development of domestic and overseas markets.

According to public data, from January to June 2022, the operating income of Clou is as follows: smart grid accounted for 75.62%, energy storage business accounted for 11.96%, comprehensive energy management and services accounted for 10.27%, and property accounted for 1.87% , other businesses accounted for 0.17%. Under the goal of carbon neutrality, the transformation of the global energy structure is imperative. Benefiting from the high prosperity of the industry and the continuous release of production capacity, the company's energy storage business is expected to usher in a large volume.

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