On March 9, 2023, Yantai Leawat Power Technology Co., Ltd. was officially established with a registered capital of RMB 200 million. Leawat Power is dedicated to developing 46mm large cylindrical batteries with high energy density, long cycle life, high rate performance, and ultimate safety.

Leawat Power's core technologies are all independently developed by its own R&D teams, encompassing materials, cell design, and structural design. The senior management team primarily comes from leading lithium battery enterprises and listed companies. The core technical personnel possess nearly 20 years of experience in lithium battery R&D, process development, and manufacturing. The R&D teams have established an advanced battery material system and demonstrated top-tier battery structure design and development capabilities, with a portfolio of over 500 patents. Leawat Power's products offer leading advantages in structural uniqueness, low-temperature performance, energy density, thermal runaway management, cycle life, and internal cell resistance.

Leawat Power's 25GWh Large Cylindrical Battery Project represents a total investment of RMB 10 billion and covers approximately 1,100 mu of land. It is designated as a Major Project in Shandong Province for 2024 and a Key Project for Shandong Provincial Green, Low-Carbon and High-quality Development in 2025. The project will be constructed in three phases, encompassing production areas, utility facility areas, finished product warehouses, an intelligent manufacturing base for key materials, and supporting living areas. The project is designed to be compatible with various material systems including lithium iron phosphate, ternary lithium, sodium-ion, and lithium titanate. Upon completion, it will produce 25GWh large cylindrical batteries annually, create over 3,000 jobs, and generate annual sales exceeding RMB 15 billion. Phase I has a total investment of RMB 1 billion, covering an area of 190 mu, with a total building area of approximately 100,000 ㎡ for factories and utility facilities. With an annual designed capacity of 4GWh, the production line incorporates customized high-speed mass production lines for 46mm large cylindrical batteries at 150ppm. In 2025, the first batch of 46mm large cylindrical batteries will be mass-produced, making this production line the world's first mass production line for large cylindrical batteries.