EnergyTrend has learned that recently, energy storage companies including Gotion High-Tech, Far East Smarter Energy, Sigenergy, SolaX Power, and Corun have successively released their financial results for the first half of 2026, with many achieving rapid growth in their energy storage businesses.
- Gotion High-Tech
On August 24, Gotion High-Tech released its half-year report for 2026. During the reporting period, Gotion High-Tech focused on its two core main businesses—EV power batteries and energy storage batteries—achieving significant performance growth.
In the first half of 2026, the company achieved revenue of RMB 27.776 billion, a year-on-year increase of 43.22%; net profit attributable to shareholders of the listed company reached RMB 1.386 billion, up 278.05% year-on-year; and non-GAAP net profit was RMB 107 million, up 46.71% year-on-year.
Among this, the company's energy storage battery system business achieved revenue of RMB 3.689 billion in the first half of 2026, accounting for 13.28% of total revenue. Driven by lean manufacturing and cost control, the gross margin of this business segment reached 19.50%, a slight increase of 0.15% compared to the same period last year.
Currently, Gotion High-Tech has established a full-chain product matrix covering generation-side, grid-side, commercial & industrial (C&I), residential, and mobile energy storage.
During the reporting period, the company continued to deepen key technology research in energy storage systems, continuously expanding its multi-chemistry product portfolio. It officially launched several major new products, including the "Nachen" sodium-ion battery and the "Qianyuan Smart Storage 2.0" system.
While consolidating its position in the utility-scale energy storage market, the company actively explored ToC consumer tracks. Its Gendome series portable power stations received strong market acclaim overseas, opening up brand new markets for growth. Additionally, the company introduced customized zero-carbon solutions to continuously empower green, low-carbon upgrades across multiple scenarios.
- Far East Smarter Energy
On August 21, Far East Smarter Energy disclosed its half-year report for 2026. In the first half, the company achieved revenue of RMB 12.992 billion, up 0.12% year-on-year; net profit attributable to shareholders reached RMB 205 million, up 43.13% year-on-year; and non-GAAP net profit was RMB 199 million, up 73.35% year-on-year.
Among this, the energy storage business grew significantly. During the reporting period, the energy storage segment achieved revenue of RMB 488 million, up 394.55% year-on-year, and secured orders exceeding RMB 10 million totaling RMB 2.231 billion, a year-on-year increase of 421.69%.
On the project front, the company landed the Hebei Wuqiang 200MW/800MWh standalone energy storage station, the Xinjiang Linuo 200MW/800MWh grid-forming standalone storage project, and the Latvia 5MW/10MWh storage project in the first half of the year. Simultaneously, the company continued to expand into overseas markets. Building upon its presence in Southern Europe, it further deployed AIDC (computing power) energy storage projects in the US and steadily expanded across Europe, North America, and the Middle East.
- Sigenergy
On the evening of August 24, Sigenergy disclosed its H1 2026 financial results. In the first half, the company achieved revenue of RMB 9.874 billion, a year-on-year increase of 261.2%; profit for the period reached RMB 2.428 billion, up 201% year-on-year; and adjusted net profit was RMB 2.485 billion, up 135.8% year-on-year.
Among this, PV & energy storage series products remained its main revenue source, generating RMB 9.296 billion in H1 2026, up 267.1% year-on-year and accounting for 94.2% of the company's total revenue. The company stated that revenue growth was mainly driven by business scale expansion and increased product sales volume. Meanwhile, affected by rising raw material costs and increased channel incentives, the gross margin for this business decreased from 52.4% to 40.7%.
Currently, Sigenergy's products cover residential, C&I, and utility-scale application scenarios, including PV & energy storage products such as SigenStor, SigenStack, and SigenTerra. During the reporting period, the company's Nantong Smart Energy Center commenced operations, with plans to enhance production and delivery capabilities based on market demand, product mix, and capacity ramp-up.
Regarding overseas markets, the company stated it will continue to deepen its presence in Europe while expanding business across the Asia-Pacific, Africa, and North America, as well as exploring markets in Latin America, the Middle East, and Central Asia.
- SolaX Power
SolaX Power achieved revenue of RMB 3.154 billion in the first half of 2026, a year-on-year increase of 74.59%; net profit attributable to shareholders of the listed company was a net loss of RMB 35.1321 million, down 124.78% year-on-year; non-GAAP net profit attributable to shareholders was a net loss of RMB 48.4008 million, down 146.14% year-on-year.
In terms of energy storage and inverter businesses, the company leveraged a dual engine strategy of "Europe + emerging markets" to achieve significant revenue scale expansion. Revenue from the European market grew approximately 59.49% year-on-year, accounting for 59.61% of total revenue. Simultaneously, driven by local subsidies and energy storage policies, sales revenue in emerging markets such as Australia, Vietnam, and the Philippines grew by 598%, 1780%, and 865% respectively.
Despite significant growth in sales volume for energy storage-related products, the company's gross margin for the period dropped to 27.95%, a decrease of 5.62% compared to the same period last year, due to the combined impact of relatively lower prices in emerging markets, rising upstream raw material costs, and a reduction in export tax rebate rates for battery products. Furthermore, substantial foreign exchange losses resulting from overseas business accounting for over 98% of operations further weighed on short-term profitability.
In the second half of the year, SolaX Power will continue optimizing its product structure, increasing the market share of new products such as utility-scale storage, and fully implementing lean management to promote cost reduction and efficiency gains in production.
- Corun
On the evening of August 24, Corun disclosed its H1 2026 financial report. In the first half, the company achieved revenue of RMB 2.479 billion, up 36.11% year-on-year; net profit attributable to shareholders reached RMB 56.5036 million, up 10.32% year-on-year; and non-GAAP net profit was RMB 49.5717 million, up 4.82% year-on-year.
The company's performance growth was mainly driven by energy storage and lithium battery materials. Among these, energy storage products achieved revenue of approximately RMB 648 million, a 463.5% increase compared to approximately RMB 115 million in the same period last year, with its share of company revenue rising to approximately 26%.
On the manufacturing front, Corun's Baoding Smart Energy Storage Manufacturing Industrial Base achieved energy storage system sales of 1.23GWh in the first half of the year. It has developed integration capabilities for 5MWh and 6.25MWh storage cabinets, with a long-term planned annual capacity of 10GWh. Meanwhile, the company continues to participate in project investment and construction through its energy storage industrial fund, enhancing its capabilities in project acquisition, investment, and operation.
Regarding projects, as of the end of June, Corun had promoted the grid connection and commissioning of 6 standalone energy storage power stations in Jingxing, Wangdu, Gushanliang, Zhucheng, Guantao, and Luozhuang, with a total installed capacity of 900MW/2600MWh.
Currently, Corun has a pipeline of over 10GWh in energy storage station projects across multiple regions, with plans to invest in approximately 4GWh in the second half of the year through industrial funds or other cooperative arrangements. Commissioned projects, new additions, and project pipelines form a staggered continuation, laying a project foundation for subsequent equipment deliveries and operational asset expansion.
Source：EnergyTrend
