On the evening of November 21, Deye Corporation issued an announcement stating that it has decided to use the funds raised from its 2022 private placement to increase capital in its wholly owned subsidiary, Ningbo Deye Energy Storage Technology Co., Ltd., in order to accelerate the construction progress of the 7 GWh annual commercial and industrial (C&I) energy storage production line project.
The total capital increase amounts to approximately RMB 651 million, of which RMB 340 million will be directly injected into the registered capital of Deye Energy Storage, while the remaining roughly RMB 311 million will be included in capital reserves.
The capital-increase recipient, Deye Energy Storage, was established on June 22, 2020, with a registered capital of RMB 60 million. Its business scope covers several core areas in the new energy sector, including energy storage technology services, battery manufacturing and sales, manufacturing and sales of photovoltaic equipment and components, and manufacturing and sales of new energy prime movers.
In terms of financial performance, as of September 30, 2025, Deye Energy Storage had total assets of RMB 3.987 billion. Its profitability has also been strong, with net profit reaching RMB 429 million in the first three quarters of this year.
This capital increase is based on Deye Corporation’s earlier plan to adjust the use of its raised funds.
On the evening of October 29, Deye Corporation announced that it planned to redirect the RMB 651 million in raised funds—originally allocated to the “25.5 GW String-Type and Energy-Storage-Type Inverter Production Line Construction Project” and unused as of October 17, 2025—toward the construction of the new project.
According to the announcement, the total investment in the 7 GWh annual C&I energy storage production line project is RMB 1.112 billion. The project will mainly produce standard cabinet-type commercial and industrial energy storage systems, which include batteries and battery management systems (BMS), power conversion systems (PCS), energy management systems (EMS), and other electrical components. The construction period is planned for two years, with civil engineering and equipment procurement scheduled to begin in October 2025 and project completion targeted for October 2028.
After the project is put into operation, Deye Corporation will establish three major production bases: the Beilun inverter base, the Cixi energy storage battery pack and C&I storage base, and the Haiyan environmental electrical equipment base.
Source：EnergyTrend