According to EnergyTrend, the Phase II project of Qingtao (Wuhai) Energy Technology Co., Ltd. has been moving forward steadily recently. On-site construction activities include steel bar binding, wall masonry, and scaffold erection.
At present, foundation work for the comprehensive station building has been completed. Foundation construction of Workshop 2, finished product warehouse and tank farm is drawing to a close. Construction of auxiliary facilities such as Workshop 1 and raw material warehouse is underway in parallel.
Founded in November 2023, Qingtao (Wuhai) Energy Technology Co., Ltd. is a holding subsidiary of Qingtao Energy. Its zero-carbon industrial park project for solid-state battery-specific materials and solid-state batteries has a total planned investment of approximately 5 billion yuan. The project plans to build capacity for 50,000 tons of solid-state battery-specific materials, 10 GWh of solid-state batteries and energy storage systems, with supporting wind and solar new energy and energy storage power stations.
The project will be built in phases. Phase I includes a production line for 20,000 tons of solid-state battery-specific materials, as well as production lines for 2 GWh of energy storage battery PACK assemblies and energy storage systems. Phase II is planned to host a 5 GWh semi-solid (solid-liquid) energy storage cell production line and a 500-ton solid electrolyte production line.
Under the released construction schedule, Phase II is expected to complete the main structure capping of all single buildings in June 2027, finish equipment installation in August 2027, and enter trial production in October of the same year.
In addition to the Wuhai project, Qingtao Energy has pushed forward the construction of power battery and energy storage projects this year.
In March, the project of Taizhou Qingtao Energy Technology Co., Ltd. commenced production. Phase I of the project features a planned 10 GWh production line for power solid-state batteries. Its first 3.5 GWh line has started production, and two more production lines of the same capacity are scheduled for later construction. The commissioning adds new support to Qingtao Energy’s capacity layout in the power battery sector.
In May, Qingtao Energy signed an investment agreement with Hohhot Economic and Technological Development Zone for a 20 GWh zero-carbon base project for solid-state cells and system manufacturing, with a planned total investment of roughly 5 billion yuan. After the signing, local authorities coordinated on project site selection, pre-approval procedures and follow-up cooperation mechanisms. Further tracking is required to monitor subsequent construction progress and capacity delivery of the project.
With multiple projects advancing, Qingtao Energy is also seeking capital market support. In February 2026, the company closed its Series H financing round, raising approximately 1.9 billion yuan with a post-money valuation of around 27.9 billion yuan. On April 8, it submitted an application for main board listing to the Hong Kong Stock Exchange. The proposed IPO proceeds will be used for production base construction, equipment procurement, R&D investment and business expansion.
In terms of operating metrics, Qingtao Energy has recorded continuous revenue growth yet remains unprofitable. From 2023 to 2025, its operating revenue reached 248 million yuan, 405 million yuan and 943 million yuan respectively, representing a year-on-year increase of 132.64% in 2025. Net losses for the corresponding periods stood at 853 million yuan, 999 million yuan and 1.302 billion yuan, with a cumulative net loss of about 3.154 billion yuan over the three years.
Source：EnergyTrend
