In the booming global new energy industry, in order to further promote industry cooperation and innovation, from November 27 to 29, 2024, the senior leadership team of the European IPS Group embarked on a trip to China and conducted a meaningful visit and exchange with Zijin & Longjing & Apollo Group. This visit not only deepened the mutual understanding between the two parties, but also laid a solid foundation for future in-depth strategic cooperation. The two parties successfully signed a strategic cooperation agreement, opening a new chapter of working together.
The visit of IPS Group was led by three core figures. Mr. Alexander, CEO of IPS Energy Storage, is a senior leader who holds a Ph.D. from Harvard Business School and Stanford University and has worked in the company for more than 15 years. With his far-sighted strategic vision and rich industry experience, he has made great contributions to IPS's development in the global new energy market. Mr. Filip Stoilov Rangelov, founder and director of Telelink Private Equity, is a Ph.D. graduate from Sofia University.
With his outstanding wisdom in the field of strategic investment, he accurately grasps industry trends and injects continuous vitality into the capital operation and business layout of IPS Group. Mr. Kiril Marinov, chief engineer of IPS Energy Storage, is a Ph.D. graduate from Massachusetts Institute of Technology and has worked in the company for more than 13 years. His professional and technical attainments are like a beacon, illuminating the continuous progress of IPS Group on the road of energy storage technology research and development.
IPS Group, a listed company of new energy storage power group jointly created by Bulgarian Oil Company, Telelink Private Equity Company and Exeron Power Energy Company, has become a shining star in the global new energy field with its strong economic strength, brilliant performance of annual turnover exceeding RMB 15 billion, and a wide market network across three continents of Europe, America and Asia, with products covering 90 countries and regions.
During the visit, the IPS Group delegation received a high-level reception from our side. They visited the headquarters of China Zijin Group and Longjing Group (including the exhibition hall and museum of Zijin Group) in turn, and deeply appreciated our profound group cultural heritage and strong comprehensive strength. When visiting Longjing's fully automatic production line of energy storage batteries, energy storage PACK production line and energy storage container cabinets, IPS Group was amazed at our advanced production technology and efficient automation level in the field of new energy storage.
In addition, the display of Fulongma Group's new energy cleaning vehicle demonstrated our diversified layout in the field of new energy applications; the visit to Xiamen Apollo Technology Co., Ltd's foreign trade team. gave them a more intuitive feeling of our strength in related technology research and development and manufacturing; and the inspection of Xiamen Jinlong Automobile Group and fully automatic PACK production equipment and other factories further broadened their understanding of our industrial scale and technological innovation capabilities. Representatives of IPS Group expressed that they were greatly shocked by our strong group background, strong Zijin strength and excellent technical strength in the new energy industry.
In this exchange and cooperation, after in-depth discussions and consultations, the two sides determined to carry out in-depth cooperation in multiple key areas such as new energy storage batteries, aluminum shells and covers of energy storage batteries, energy storage battery connection busbars, energy storage PACK components, and energy storage PACK automated assembly equipment. The determination of this cooperation direction not only meets the strategic layout and development needs of both companies in the field of new energy, but is also expected to bring new impetus and opportunities for the technological upgrading and market expansion of the global new energy industry.
During the reception, our main reception staff had a strong lineup, which fully demonstrated the high attention paid to this cooperation. Mr. Lin Hongfu, Vice Chairman of Zijin Group and Longjing Group, led the communication and interaction between the two parties with his rich industry experience and outstanding leadership; Mr. Huang Wei, CEO of Longjing Group, and Mr. An Fuqiang, Vice President, exchanged in-depth views with IPS Group on group operations and business development; Mr. Strong Lin, General Manager of Apollo Group, Mr. Terry Young, Sales Director, and Ms. Tina Tian also actively participated in it, providing strong support for the communication between the two parties on market docking and cooperation details.
The visit of IPS Group and the signing of the strategic cooperation agreement marked that the cooperation between the two parties in the field of new energy has entered a new stage. In the future, the two parties will give full play to their respective advantages and resources, jointly commit to technological innovation, product optimization and market expansion, and work together to contribute to the sustainable development of the global new energy industry. I believe that this cooperation will have a far-reaching impact in the industry and create a bright future of mutual benefit and win-win.
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