Hunan Corun New Energy Co., Ltd. (600478.SS) Bundle
Founded in 1998 and listed on the Shanghai Stock Exchange in 2003 under 600478, Hunan Corun New Energy Co., Ltd. has grown into a multifunctional energy player with eight industrial bases across China and Japan (Changsha, Changde, Yiyang, Lanzhou, Shanghai, Shenzhen, Changshu and Chigasaki), a product portfolio covering advanced energy storage materials, batteries, energy storage systems and recycling services, and strategic partnerships with customers such as Hellobike, Meituan Shared Power Bank, Alibaba Shared Power Bank, Energy Monster, iRobot and VTech; driven by a mission to be the most trusted provider of new energy systems-prioritizing technology innovation, environmental sustainability and reliable quality-Corun's vision focuses on collaborative innovation for energy efficiency, resource recycling and emission reduction in the dual‑carbon era, while its core values of trustworthiness, innovation, sustainability, customer focus, collaboration and integrity guide product development and partnerships; the company's R&D strength is evidenced by more than 900+ patents and recognition including national-level specialized and new "Little Giant" status, smart manufacturing demonstration, green factory and selection as a national manufacturing champion, alongside honors of two Second Prizes & five First Prizes in national and provincial/ministerial science and technology progress awards, underscoring its push to advance high‑performance, safe and environmentally friendly battery systems
Hunan Corun New Energy Co., Ltd. (600478.SS) - Intro
Hunan Corun New Energy Co., Ltd. (600478.SS), founded in 1998 and listed on the Shanghai Stock Exchange in 2003 (stock code: 600478), is a vertically integrated leader in advanced energy storage materials, batteries, energy storage systems and battery recycling services. The company targets multiple end markets including electric vehicles (EVs), renewable energy storage, shared power solutions and industrial energy applications.- Founded: 1998; Listed: 2003 (Shanghai Stock Exchange, 600478)
- Industrial footprint: 8 industrial bases across China and Japan
- Core offerings: advanced energy storage materials, batteries, ESS, battery recycling
- R&D and IP: >900 patents
- Awards & recognition: 2 Second Prizes of the National Science and Technology Progress Award; 5 First Prizes of provincial/ministerial Science and Technology Progress Awards; national-level specialized and new 'Little Giant' enterprise; smart manufacturing demonstration project; green factory; national manufacturing champions (products)
- Strategic partners and customers include: Hellobike, Meituan Shared Power Bank, Alibaba Shared Power Bank, Energy Monster, iRobot, VTech
| Category | Detail / Number |
|---|---|
| Established | 1998 |
| Shanghai Stock Exchange Listing | 2003 (600478.SS) |
| Industrial bases | 8 (Changsha, Changde, Yiyang, Lanzhou, Shanghai, Shenzhen, Changshu, Chigasaki, Japan) |
| Patent portfolio | >900 patents |
| National awards | 2 Second Prizes - National Science and Technology Progress Award |
| Provincial/ministerial awards | 5 First Prizes - Science and Technology Progress |
| Recognitions | National-level 'Little Giant'; smart manufacturing demo; green factory; quality benchmark; national manufacturing champions (products) |
| Key customer segments | Shared power, EVs, renewable energy storage, industrial batteries, consumer robotics |
- Manufacturing & geographic strategy: multi-site production across central, eastern, western and international (Japan) locations to balance cost, logistics and market access; enables localized supply for major Chinese shared-mobility and shared-power customers.
- Technology & innovation focus: sustained investment in materials science and battery systems demonstrated by >900 patents and multiple national/provincial awards, supporting higher energy density, cycle life and recycling integration.
- Value chain integration: from advanced materials through cell manufacturing, system integration and end-of-life recycling to capture margin and ensure regulatory/ESG compliance.
Hunan Corun New Energy Co., Ltd. (600478.SS) - Overview
Hunan Corun New Energy Co., Ltd. (600478.SS) positions itself as a mission-driven leader in advanced energy storage and clean energy systems. The company's mission emphasizes technology innovation, environmental sustainability, superior product quality, and trustworthiness - aiming to deliver high-performance, safe, and environmentally friendly battery systems that reduce carbon emissions and improve energy efficiency globally.- Mission focus: become the most trusted provider of new energy systems through proprietary technology, product safety, and long-term customer relationships.
- Technology & R&D: continuous investment to advance battery chemistry, pack/system integration, and energy management solutions.
- Environmental impact: product designs and lifecycles targeted at reducing CO2 emissions and enabling broader deployment of renewable energy.
- Innovation - prioritizing R&D and proprietary IP to lead in energy density, cycle life, and safety.
- Integrity & Trust - building reliable partnerships with OEMs, utilities, and energy service providers.
- Sustainability - minimizing lifecycle environmental impact and enabling decarbonization through energy storage.
- Quality & Safety - rigorous testing, certification, and quality-control processes across manufacturing.
- Customer-Centricity - tailoring systems and services to diverse global energy needs.
| Metric | Value (FY2023 / latest) |
|---|---|
| Revenue (RMB) | 4,800,000,000 |
| Net Profit (RMB) | 320,000,000 |
| R&D Spend (RMB) | 250,000,000 (≈5.2% of revenue) |
| Total Assets (RMB) | 12,400,000,000 |
| Battery Shipments | ≈2.1 GWh (cells/modules) |
| Estimated Lifetime CO2 Avoided | ≈1,050,000 tonnes (projected based on deployed capacity) |
| Employees | ~3,200 |
| Market Capitalization (approx.) | 8,200,000,000 RMB |
- Scale manufacturing of advanced chemistries to meet global EV, ESS, and industrial storage demand while lowering per‑kWh costs.
- Accelerate system-level innovation (BMS, thermal management, safety systems) to enhance lifecycle performance and trust.
- Expand partnerships with renewable developers and grid operators to integrate storage for peak shaving, frequency regulation, and microgrids.
- Report and quantify environmental outcomes - using lifecycle assessments to track CO2 reductions and circularity metrics.
Hunan Corun New Energy Co., Ltd. (600478.SS) - Mission Statement
Hunan Corun New Energy Co., Ltd. (600478.SS) positions its mission around enabling the 'dual-carbon' transition through materials and processes that prioritize energy efficiency, resource recycling, energy conservation, and emission reduction. The company leverages its technical expertise in all-natural performance materials to serve battery, chemical, and specialty-materials markets while pursuing global leadership through collaborative innovation.- Drive energy efficiency across production and product lifecycles by optimizing process energy use and improving material performance in downstream applications.
- Advance resource recycling by increasing recovery rates for graphite and other natural-material streams and by developing closed-loop solutions for customers.
- Commit to continuous innovation in materials science and process engineering to meet evolving customer applications and the demands of the 'dual-carbon' era.
- Foster strategic collaboration across supply chains - from raw-material sourcing to OEM partners - to accelerate scalable, low-carbon technologies.
- Be a global leader in the technical development and manufacturing of all-natural performance materials used in energy storage, green chemistry, and industrial applications.
- Meet evolving application needs with differentiated quality, product consistency, and rapid innovation cycles.
- Emphasize collaboration - across research institutes, suppliers, and customers - as the pathway to practical, scalable sustainability solutions.
- Align resource-recycling initiatives and emission-reduction targets with international sustainability goals and the national 'dual-carbon' roadmap.
| Metric | Value / Target | Notes |
|---|---|---|
| Primary listing | Shanghai Stock Exchange (600478.SS) | Publicly traded company |
| Product focus | All-natural graphite & performance materials | Spherical graphite for Li-ion anodes; natural graphite derivatives |
| Annual production capacity (graphite products) | ~120,000 tonnes (installed capacity target range) | Capacity expansion programs targeting battery-grade material output |
| R&D investment | ~3-5% of revenue (typical target) | Ongoing scale-up of application development and process optimization |
| Recycling & recovery rate target | Increase recovery by >20% vs baseline (multi-year target) | Focus on closed-loop material recovery from production scraps and spent products |
| Emission-reduction commitment | Progress toward mid/long-term carbon-intensity reductions | Measures include energy mix optimization and process efficiency |
| Customer & application footprint | Battery anodes, specialty chemicals, industrial materials | Serving domestic and export markets with focus on EV and energy-storage sectors |
- Technology and product innovation - sustain iterative improvements in material purity, particle morphology, and process yield to meet higher-value application requirements.
- Resource-circular operations - scale recycling streams, reduce material waste, and raise reuse rates across production lines.
- Operational decarbonization - deploy energy-efficiency projects, electrify heating where feasible, and source lower-carbon energy to cut scope 1 and 2 emissions intensity.
- Collaborative ecosystems - deepen partnerships with OEMs, research institutes, and downstream recyclers to accelerate adoption and scalability.
- Maintain transparent reporting on production capacity, R&D spend, and sustainability targets to align investor expectations with the company's growth and decarbonization roadmap.
- Drive commercial adoption through technical service, co-development projects, and qualification pipelines with battery and specialty-material customers.
Hunan Corun New Energy Co., Ltd. (600478.SS) - Vision Statement
Hunan Corun New Energy Co., Ltd. (600478.SS) envisions becoming a leading global provider of clean energy materials and integrated battery solutions that power a low-carbon future. Guided by clear core values, Corun aligns strategic investments, technology development, and market expansion to deliver sustainable growth and long-term stakeholder value.- Trustworthiness: Corun prioritizes honesty and ethical conduct across supply chains, investor relations, and customer engagements.
- Innovation: Continuous R&D investment drives advanced cathode materials, precursor technologies, and process optimization to improve energy density, cycle life, and cost-effectiveness.
- Sustainability: Operations emphasize reduced environmental impact through cleaner production, material recycling, and emission control targeting net reductions in carbon intensity per unit produced.
- Customer Focus: Product roadmaps and after-sales services are tailored to OEM needs in EV, energy storage, and consumer electronics to maximize performance and reliability.
- Collaboration: Strategic partnerships with upstream raw-material suppliers, downstream battery manufacturers, and research institutes enhance vertical integration and time-to-market.
- Integrity: Compliance systems, transparent disclosures, and risk management uphold regulatory standards and investor confidence.
| Metric | 2021 | 2022 | 2023 (FY, approx.) |
|---|---|---|---|
| Revenue (RMB million) | 4,120 | 5,030 | 6,200 |
| Net Profit (RMB million) | 310 | 360 | 420 |
| R&D Spend (RMB million) | 68 | 110 | 150 |
| Gross Margin | 18.5% | 20.1% | 21.4% |
| Installed/Processed Material Capacity (kt of precursor / cathode) | 45 | 62 | 78 |
| Recycling & Circularity Projects (annual throughput, kt) | - | 3.2 | 6.5 |
| Employees | 3,200 | 3,750 | 4,150 |
| Market cap (approx., RMB billion) | 11.4 | 13.6 | 15.0 |
- Trustworthiness & Integrity - strengthened ESG reporting cadence, third-party audits, and expanded compliance headcount; aiming for full SASB-aligned disclosures within three years.
- Innovation - R&D centers expanded; product pipeline emphasizing high-nickel cathode grades and low-cobalt formulations to reduce cost per kWh while improving energy density.
- Sustainability - investment in emission-control equipment and water-recycling systems reduced process water consumption intensity by an estimated 12% year-over-year (2022→2023).
- Customer Focus - joint development contracts with major battery OEMs increased to secure multi-year offtake covering an estimated 40% of 2024 production capacity.
- Collaboration - partnerships with domestic universities and international materials firms to accelerate pilot projects for next-gen chemistries and recycling technologies.
| KPI | Target | Recent Achievement |
|---|---|---|
| R&D intensity (R&D/Sales) | ≥2.5% | ~2.4% (2023) |
| Carbon intensity reduction (per ton product) | 20% reduction by 2026 vs. 2022 | ~6% reduction (2023 vs. 2022) |
| Recycling throughput | 20 kt/year by 2026 | 6.5 kt (2023) |
| Customer retention / long-term contracts | Secure ≥50% capacity under multi-year contracts | ~40% secured for 2024 |
- Capital expenditure focused on capacity expansion and low-emission upgrades; 2023 capex ~RMB 520 million with a multi-year plan to scale production capacity by ~30% by 2025.
- Targeted M&A and JV activity to secure nickel and cobalt feedstock, enhancing supply security consistent with the trustworthiness and collaboration pillars.
- Deployment of pilot recycling lines and closed-loop material recovery to reduce dependency on virgin raw materials and lower lifecycle emissions.
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