Recently, several energy storage companies have disclosed the latest progress in their energy storage businesses. Corun's energy storage project reserves have exceeded 15GWh, and it is advancing the commercialization of its lithium extraction technology; SolaX Power achieved performance growth in the first quarter of 2026, with the construction of large-scale energy storage projects accelerating; SOFAR has continued to focus on commercial and industrial (C&I) as well as centralized energy storage, further increasing the proportion of its energy storage business.
Corun
On May 25, Corun stated while answering investors' questions on an interactive platform that the company currently has abundant order reserves for its energy storage business. The total reserve of various energy storage projects has exceeded 15GWh, with a scale of approximately 4GWh planned for construction in the first half of 2026.
In terms of technology, the company's lithium extraction technology has made positive progress and is moving towards industrial application. The new technology is planned to be applied in the phase-two 20,000-ton lithium carbonate project. This aims to achieve goals such as further increasing the lithium recovery rate, reducing tailings, lowering energy consumption, and improving the utilization rate of multi-associated metals, thereby further reducing the production cost of lithium carbonate.
SolaX Power
In 2025, SolaX Power achieved an operating revenue of 4.08 billion yuan, a year-on-year increase of 32.84%; the net profit attributable to shareholders of the listed company was 121 million yuan, a year-on-year decrease of 40.61%; the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 70 million yuan, a year-on-year decrease of 50.73%.
The gross profit margin for residential energy storage systems and products was 34.47%; for C&I energy storage systems, it was 36.96%; for grid-tied inverters, it was 20.08%; and for accessories and others, it was 33.25%.
In the first quarter of 2026, the company achieved an operating revenue of 1.45 billion yuan, a year-on-year increase of 81.97%; the net profit attributable to shareholders of the listed company was 66.6434 million yuan, a year-on-year increase of 45.05%; the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 59.6389 million yuan, a year-on-year increase of 264.43%.
Regarding project progress, the main structure construction of the company's "Large-scale Energy Storage System and Heat Pump Smart Energy System R&D and Production Project" is currently nearing completion, and it is scheduled to gradually go into production in the second half of 2026.
SOFAR
In 2025, against the backdrop of fluctuating global photovoltaic market demand and slowing growth in the European residential market, SOFAR achieved an annual operating revenue of 2.574 billion yuan, a year-on-year decrease of 5.04%. However, entering 2026, the company's performance has shown signs of stabilization, achieving an operating revenue of 658 million yuan in the first quarter, a year-on-year increase of 0.54%.
SOFAR is actively expanding its commercial and industrial (C&I) and centralized energy storage businesses. In 2025, the company's revenue from products such as energy storage batteries and energy storage systems grew steadily, with its share of total operating revenue rising to 46.27%. This strong momentum continued into the first quarter of 2026, where the energy storage system business alone achieved a single-quarter revenue of 106 million yuan, a massive year-on-year surge of 274.11%, accounting for 15.7% of the total revenue.
Looking at the market structure, SOFAR primarily focuses on overseas markets as its core. In 2025, the company's overseas revenue accounted for 89.44% of its total revenue. Specifically, in terms of C&I energy storage, the company focused heavily on core European markets, establishing localized sales and technical support teams. In terms of centralized energy storage, the company has successfully delivered and implemented multiple projects, laying a solid foundation for subsequent market expansion. Meanwhile, the company has also completed initial project implementations and channel verifications in emerging markets such as the Middle East.
In the future, relying on its technological accumulation in fields such as power electronics, EMS, BMS, and the Internet of Things (IoT), the company will center on "power electronics + applications" and "solar-storage + scenarios" to explore technological, product, and business dimensions. It will actively expand its business boundaries and leverage the capital market platform to proactively explore new growth curves.
Source：EnergyTrend