EnergyTrend has learned that EVE Energy and Desay Battery have successively released their H1 2026 financial reports. The reports show that both companies achieved rapid growth in their energy storage business revenues, with net profits simultaneously surging.
EVE Energy's H1 Revenue Grows by 62%
On August 19, EVE Energy released its H1 2026 financial performance announcement.
In the first half of 2026, EVE Energy's operating revenue was approximately 45.691 billion RMB, a year-on-year (YoY) increase of 62.20%; net profit attributable to the parent company was about 3.301 billion RMB, a YoY increase of 105.66%; and net profit excluding non-recurring gains and losses was about 2.451 billion RMB, a YoY increase of 111.89%.
The financial report indicates that looking at the business breakdown, EVE Energy's three major segments—consumer batteries, power batteries, and energy storage batteries—each have their own highlights. Among them:
- In the energy storage battery segment, EVE Energy's H1 energy storage battery revenue exceeded 15.09 billion RMB, with a YoY growth rate as high as 69.15%. Energy storage battery shipments reached 44.46GWh, a YoY increase of 54.88%. According to data from TrendForce, EVE Energy ranked third globally in energy storage battery shipments in H1 2026.
- The consumer battery segment's revenue was about 6.411 billion RMB, up 26.22% YoY. The gross margin of this segment stood at 22.64%, making it the business with the highest gross margin for EVE Energy.
- The power battery segment's revenue was approximately 17.278 billion RMB, a YoY increase of 53.31%. During this period, power battery shipments reached 35.76GWh, up 66.47% YoY.
Data shows that EVE Energy is the world's first company to mass-produce 600Ah+ large prismatic LFP energy storage batteries. During the reporting period, the production capacity of the 628Ah "Mr.Big" ultra-large capacity cell was gradually released, further enhancing its large-scale delivery capabilities.
According to data from TrendForce's global energy storage supply chain database, global energy storage cell shipments in H1 2026 exceeded 460GWh, a massive surge of approximately 94% compared to the same period last year, indicating a period of high-speed explosive growth for the overall global energy storage market.
EVE Energy stated that it will continue to advance the R&D iteration of next-generation ultra-large capacity cells. By matching larger cells with highly integrated energy storage systems, it can effectively help customers reduce the unit investment cost of power stations. In overseas markets, the company has reached multiple large-scale collaborations with global top-tier energy storage integrators and project owners, continuously enhancing its global market share and industry influence.
Desay Battery's Energy Storage Cell Revenue Surges by 696.64%
On August 18, Desay Battery released its 2026 mid-year financial report. Desay Battery's operating performance climbed steadily in the first half of the year, achieving a substantial leap in profitability.
In the first half of 2026, Desay Battery's revenue was approximately 10.716 billion RMB, a YoY increase of 9.78%, achieving continuous growth for three consecutive years; net profit attributable to the parent company was 205 million RMB, up 110.44% YoY; and net profit excluding non-recurring gains and losses was 171 million RMB, a YoY increase of 157.32%.
Desay Battery stated that the significant performance growth during the reporting period was mainly driven by the rapid development of its two strategic emerging businesses: energy storage cells and SIP (System in Package) advanced packaging.
Among them, the energy storage business became the biggest performance highlight of this semi-annual report. The energy storage capacity laid out by Desay Battery in the early stage has successfully completed its capacity ramp-up, and the advantages of large-scale production are gradually becoming prominent. In the first half of 2026, Desay Battery's energy storage cell business achieved a revenue of 1.346 billion RMB (including internal sales), a massive YoY increase of 696.64%, successfully turning losses into profits and achieving leapfrog development.
Source：EnergyTrend
