---
title: "China’s Deye to Invest USD181 Million for Phase II of Energy Storage System Project"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290913833.md"
description: "Chinese new energy firm Deye Technology announced it will invest at least CNY1.2 billion (USD181 million) in the second phase of its commercial and industrial energy storage system base in Cixi, Zhejiang. The project aims to add a production line with an annual output of 9 GWh to meet strong overseas demand. Deye stated the investment would not adversely impact current operating performance but is expected to positively affect future results."
datetime: "2026-06-26T04:26:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290913833.md)
  - [en](https://longbridge.com/en/news/290913833.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290913833.md)
generator: "portal-rs"
---

# China’s Deye to Invest USD181 Million for Phase II of Energy Storage System Project

(Yicai) June 26 -- Chinese new energy firm Deye Technology said it will invest no less than CNY1.2 billion (USD181 million) in the second phase of its commercial and industrial energy storage system base in Cixi, China’s eastern Zhejiang province.

Deye’s subsidiary Deye Energy Storage Technology signed an investment agreement with the management committee of the Cizi Binhai Economic Development Zone for the construction of a second production line with an annual output of 9 gigawatt-hours of commercial and industrial ESS, the Ningbo-based parent firm announced on June 24.

In April last year, Deye unveiled plans to build a 16 GWh commercial and industrial ESS facility in the Cizi Binhai Economic Development Zone. The first phase, with an annual capacity of 7 GWh, has completed the preparation procedures, including the acquisition of a 370-acre land plot. Its average tax revenue per acre will be over CNY500,000 (USD73,450), and its research and development investment ratio will be no less than 3.8 percent after coming on stream.

Given the strong overseas demand for commercial and industrial ESS, the management team decided to go ahead with the second phase of the project in advance to meet future growing sales, Deye noted.

“The investment will not have a big adverse impact on the company’s operating performance this year, while the successful implementation of the project will positively affect its future operating performance,” Deye added.

Deye initially made plastic molds and injection molding parts, producing heat exchangers and injection molding parts for air conditioning companies, such as Midea Group and Aux Electric. In 2016, it forayed into the photovoltaic inverter business. Its main products are now energy storage inverters, photovoltaic inverters, and energy storage battery packs.

Deye’s shares \[SHA: 605117\] were trading down 2.2 percent at CNY97.10 (USD14.27) apiece as of lunch break in Shanghai today. They have surged 61 percent so far this year.

Editor: Futura Costaglione

### Related Stocks

- [605117.CN](https://longbridge.com/en/quote/605117.CN.md)
- [000333.CN](https://longbridge.com/en/quote/000333.CN.md)
- [02580.HK](https://longbridge.com/en/quote/02580.HK.md)
- [00300.HK](https://longbridge.com/en/quote/00300.HK.md)

## Related News & Research

- [CATL debuts e-commerce hub for direct sales to small buyers amid sharp rivalry](https://longbridge.com/en/news/296754176.md)
- [Why is your gold waiting on a speech?](https://longbridge.com/en/news/296733808.md)
- [This Atlassian Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday](https://longbridge.com/en/news/297053341.md)
- [CATL  Launches CATL Mall, Plans to Start Livestream Sales in Future](https://longbridge.com/en/news/296721492.md)
- [EXM: Net profit increased on one-off gains, despite lower revenue and EBITDA year-over-year](https://longbridge.com/en/news/296991766.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**