From November 27 to 29, 2024, the European IPS Group's senior leadership team visited China. The visit aims to promote the in-depth strategic cooperation between IPS and ZIJIN&LONGKING&APOLLO Group. Not only did it receive a high-level reception, but it also successfully signed a far-reaching future strategic cooperation agreement, which has drawn a grand blueprint for the two sides to work together in the field of new energy.
The IPS Group's visiting team is strong, demonstrating its high attention to this cooperation. Among them, Mr. Alexander, CEO of IPS Energy Storage, has injected strong impetus into IPS's strategic decision-making and business expansion with his profound academic background of double doctorates from Harvard Business School and Stanford University in the United States and more than 15 years of rich working experience in the company; Mr. Philip Stoilov-Langelov, founder and director of Telelink Private Equity, has a doctorate from Sofia University and has keen insight and outstanding leadership in the field of strategic investment. His joining brings a unique capital perspective to the cooperation; and Mr. Kirill, chief engineer of IPS Energy Storage, has a doctorate from the Massachusetts Institute of Technology and has worked in the company for more than 13 years. He will provide solid technical support for the cooperation projects between the two parties. IPS Group is a listed company of new energy storage power group jointly invested by Bulgarian Oil Company, Bulgarian Telelink Private Equity Company and Bulgarian Exeron Power Energy Company. Its annual turnover exceeds RMB 15 billion. Its extensive global layout covers Europe, the United States, Singapore and other regions, and its products are exported to 90 countries and regions, showing strong market influence and international competitiveness.
During the three-day visit, the IPS Group visited the headquarters of China Zijin Group and Longjing Group (including the Zijin Group exhibition hall and museum) in depth, and deeply felt our profound historical and cultural heritage and strong comprehensive strength of the group. Afterwards, the advanced production technology and efficient automation process of Longjing's energy storage battery fully automatic production line, energy storage PACK production line and energy storage container cabinet made them shine, fully demonstrating our technical strength and manufacturing level in the core field of new energy storage. The display of Fulongma Group's new energy cleaning vehicle reflects our diversified innovative practices in the field of new energy applications; the visit to Xiamen Apollo Technology Co., Ltd's foreign trade team. highlights our superb skills in key technology research and development and manufacturing; and the inspection of Xiamen Jinlong Automobile Group and fully automatic PACK production equipment and other factories further let IPS Group appreciate our complete industrial ecological chain and strong scale effect. The representatives of IPS Group highly praised our strong group background, strong Zijin strength and technical strength at the forefront of the new energy industry, and were full of confidence and expectations for future cooperation.
Based on the complementary advantages and market demand of both parties, this cooperation is determined to focus on new energy storage batteries, aluminum shells and covers of energy storage batteries, energy storage battery connection busbars, energy storage PACK components, energy storage PACK automated assembly equipment and other key areas for in-depth cooperation. In its future planning, IPS Group is actively preparing for the production base of energy storage systems such as energy storage packs and energy storage cabinets. It intends to use our technical and production capacity advantages in energy storage cells, PACK components, and Pack systems to achieve localized production in Bulgaria. It plans to introduce 3 to 5 fully automatic PACK lines from 2024 to 2026 to achieve the ambitious goal of an annual production capacity of 3 to 5GWAh. With its own extensive sales channels, it will ensure the sales of at least 50GWh of energy storage products in the next three years, realize zero-tariff exports to the European and American markets, and form strong industry competitiveness.
Our main reception staff also had a strong lineup. Mr. Lin Hongfu, Vice Chairman of China Zijin Group and Longjing Group, Mr. Huang Wei, CEO of Longjing Group, Mr. An Fuqiang, Vice President, Mr. Strong Lin, General Manager of Apollo Group, Mr. Terry Young, Sales Director, and Ms. Tina Tian, Sales Manager, participated in the reception and communication throughout the whole process. Their rich industry experience and professionalism provided a solid guarantee for the smooth communication and cooperation between the two parties.
The visit of IPS Group and the successful conclusion of strategic cooperation are important milestones for the integration and coordinated development of advantageous resources in the field of new energy. It will not only bring new development opportunities and growth momentum to the companies of both parties, but also is expected to trigger a positive chain reaction in the global new energy industry pattern, promote industry technological innovation and market expansion to a new height, and jointly write a glorious chapter of international cooperation in the field of new energy.
