Chaowei Power Holdings

What Chaowei Power Holdings does

Chaowei Power Holdings Limited, founded in 1998 and listed on the Hong Kong Stock Exchange (Stock Code 951) since June 2010, is a large-scale Chinese manufacturer of batteries for electric mobility. The company is incorporated in the Cayman Islands, headquartered in Changxing County, Zhejiang Province, and operates more than 10,000 employees across production facilities in seven Chinese provinces (Shandong, Jiangsu, Henan, Zhejiang, Anhui, Jiangxi, and Hebei). Its core products are lead-acid motive batteries used in electric bicycles, electric tricycles, and special purpose electric vehicles, complemented by a growing lithium-ion battery line. The Group is one of the few enterprises in China to adopt the enclosed battery formation process (内化成工艺) at large scale and achieved total cadmium-free production by end of 2013. FY2025 revenue was RMB 54.4 billion (approximately USD 7.5 billion), up ~8.1% year-over-year, with profit attributable to owners of RMB 361 million (+24.7% YoY).

The business model is anchored on a dual-tier go-to-market: a first-tier channel provides direct, dedicated sales coverage to major Chinese electric bicycle manufacturers for OEM battery supply, while a second-tier channel leverages a nationwide distribution network covering all Chinese provinces — with online and offline presence, delivery-to-installation service, pre-sale to after-sale support, and a national service hotline — to serve distributors, retailers, and ultimately end users in the replacement/aftermarket segment. Revenue streams in FY2025 were dominated by electric bicycle batteries (RMB 19.96 billion), renewable/recycled materials (RMB 25 billion, the largest segment at ~46% of revenue), electric vehicle and special purpose electric vehicle batteries (RMB 8.86 billion), and lithium-ion batteries (RMB 625 million, more than double the prior year). All products are sold under the "Chao Wei/Chilwee" (超威) brand.

The product portfolio is being actively broadened beyond the lead-acid core through R&D investment of RMB 1.408 billion (~2.6% of revenue) in 2025. Development programs span all-solid-state sodium batteries, sodium-ion batteries, and graphene technology batteries, alongside energy storage solutions including a solid sodium salt energy storage system (selected as a provincial advanced technology innovation achievement) and a globally pioneering oilfield mobile energy storage vehicle demonstration project. Founder Zhou Mingming (周明明) remains Chairman and CEO, with the leadership team including three Executive Directors, one Non-executive Director, three Independent Non-executive Directors, and a Company Secretary.

Name

Chaowei Power Holdings

Legal name

Chaowei Power Holdings Limited

Website

https://chaowei.com.hk

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Chaowei Power Holdings manufactures lead-acid motive and lithium-ion batteries, plus emerging sodium-ion and solid-state sodium technologies, for electric bicycles, electric tricycles, and special purpose electric vehicles in China, selling via direct OEM accounts and a nationwide distribution network.

Ownership category

akta.pro rank

Product category

Lead-Acid Batteries

NAICS

Battery Manufacturing (33591)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Battery Cell Manufacturing (EV) (IMACACAB), E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI), Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE)

Keywords

• Lead-acid motive batteries
• Electric vehicle batteries
• Battery manufacturing
• Lithium-ion batteries
• Energy storage systems

Headquarters

HQ city

Changxing

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Lead-Acid Motive Batteries: Primary revenue stream including electric bicycle batteries (RMB 19.96 billion in 2025) and electric vehicle batteries and special purpose electric vehicle batteries (RMB 8.86 billion in 2025). These products are widely used in electric bikes, electric tricycles and special purpose electric vehicles.
2. Lithium-Ion Batteries: Growing revenue stream from lithium-ion batteries, generating RMB 625 million in 2025, representing significant year-over-year growth from RMB 264 million in 2024.
3. Renewable Materials: Revenue from recycled and renewable materials, generating RMB 25 billion in 2025, representing the largest revenue segment at approximately 46% of total revenue.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Chaowei Power Holdings manufactures and sells lead-acid motive batteries, lithium-ion batteries, and related products that are widely used in electric bikes, electric tricycles, and special purpose electric vehicles. The company produces battery electrode plates and fiberglass separators as core components, and has developed emerging battery technologies including all-solid-state sodium batteries, sodium-ion batteries, and graphene technology batteries, as well as energy storage solutions.

Product overview

Chaowei Power Holdings operates as a battery manufacturing company with a dual-core product portfolio centered on lead-acid motive batteries and lithium-ion batteries for electric mobility applications. The company produces lead-acid motive batteries as its primary product line, serving electric bicycles, electric tricycles, and special purpose electric vehicles, along with supporting lithium-ion batteries. The company has pioneered enclosed battery formation technology for large-scale production and achieved total cadmium-free production since 2013. In recent years, the company has expanded into emerging battery technologies including all-solid-state sodium batteries, sodium-ion batteries, and graphene technology batteries. The company also develops energy storage solutions such as solid sodium salt energy storage systems and mobile energy storage vehicles. All products are sold under the "超威" (Chilwee) brand.

Differentiator

Problem solved

Functional benefit

Products and services

• Lead-Acid Motive Batteries The company's primary product line of lead-acid motive batteries used in electric bicycles, electric tricycles, and special purpose electric vehicles. Key components include electrode plates (with lead oxide and lead alloy coatings) and fiberglass separators. Generates RMB 19.96 billion (electric bicycle batteries) and RMB 8.86 billion (electric vehicle and special purpose electric vehicle batteries) in 2025.
• Lithium-Ion Batteries Lithium-ion batteries for electric mobility applications, complementing the lead-acid portfolio. Generated RMB 625 million in 2025, up significantly from RMB 264 million in 2024.
• Sodium-Ion Batteries (钠离子电池) New-type sodium-ion battery products with rapidly increasing demand and shipment volumes, benefiting from industry standardization developments.
• All-Solid-State Sodium Batteries (全固态钠电池) Innovative all-solid-state sodium battery products representing breakthroughs in solid-state battery technology and part of the new energy product portfolio.
• Graphene Technology Batteries (石墨烯技术电池) Series of innovative battery products incorporating graphene technology, part of the company's multi-technology battery portfolio.
• Solid Sodium Salt Energy Storage System (固态钠盐储能系统) Self-developed solid sodium salt energy storage system recognized as a provincial advanced technology innovation achievement.
• Oilfield Mobile Energy Storage Vehicle Demonstration Project (油田井场移动储能车示范项目) Globally pioneering mobile energy storage vehicle project demonstrating capabilities in mobile energy storage applications for oilfield environments.

Quantifiable outcome

• Revenue grew approximately 8.1% year-over-year to RMB 54.4 billion in 2025
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• EVE Energy: Shenzhen-listed (SHE: 300014) Chinese lithium-ion battery maker with strong positions in power and ESS cells; an emerging peer in the next-generation chemistry space where Chaowei is investing with sodium-ion and solid-state technology.

Direct peers

• Camel Group: Shanghai-listed (SHA: 601311) Chinese lead-acid battery manufacturer focused on automotive and motive batteries, competing with Chaowei in automotive and e-motive replacement markets in China.
• Leoch International Technology: Hong Kong-listed (HK: 0842) Chinese lead-acid battery manufacturer with a global distribution network, comparable to Chaowei in motive and standby battery segments and in serving replacement markets.
• Tianneng Power International: Hong Kong-listed Chinese lead-acid motive battery manufacturer (HK: 0819) and the closest direct competitor to Chaowei in e-bike and light-EV batteries, with overlapping OEM customers, distribution footprint, and product portfolio.
• Narada Power Source: Chinese battery maker (SHA: 300068) producing lead-acid and lithium-ion batteries for e-mobility and energy storage, competing with Chaowei across both legacy and next-generation chemistries in domestic OEM and aftermarket channels.
• Coslight Technology International: Hong Kong-listed (HK: 1043) Chinese battery manufacturer producing lead-acid and lithium-ion cells and packs, with significant overlap in motive-power applications for e-bikes and light EVs.

Broad incumbents

• Exide Industries: Indian lead-acid battery major and broader incumbent across automotive, industrial, and motive applications; comparable to Chaowei in lead-acid technology focus and emerging-market distribution scale.
• BYD: Vertically integrated EV and battery manufacturer with significant lithium-iron-phosphate cell capacity; competes with Chaowei indirectly through its influence on e-bike and light-EV battery standards and pricing in China.
• GS Yuasa: Japanese battery incumbent producing both lead-acid and lithium-ion batteries for automotive, motive, and industrial uses, providing a global benchmark for Chaowei's product mix and margin structure.
• CATL (Contemporary Amperex Technology): World's largest lithium-ion battery manufacturer (SHE: 300750); while primarily focused on EV and ESS cells, its scale and pricing power define the competitive environment Chaowei is entering with its lithium-ion and sodium-ion businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/chaowei-power-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chaowei Power Holdings