Funeng Technology's subsidiary has been selected for the Guangqi Group power battery development project, utilizing SPS super soft-pack technology.

[Finance News] On March 17, Funeng Technology (Ganzhou) Co., Ltd. (Stock Code: 688567, Stock Abbreviation: Funeng Technology) announced that its wholly owned subsidiary, Guangzhou Funeng Technology Co., Ltd., recently received a “Designated Development Notice” from Guangzhou Automobile Group Co., Ltd. (hereinafter referred to as “GAC Group”). According to the notice, GAC Group has selected Funeng Technology as its developer and supplier of power battery products, with official supply expected to begin in the first half of 2027.

The announcement states that this designated project will use Funeng Technology’s independently developed SPS Super Soft Pack Power Battery Solution, specifically for lithium iron phosphate (LiFePO4) power batteries. The company said that receiving the designating development notice from GAC Group marks a further recognition of its SPS battery products in the market and also signifies an important breakthrough in SPS lithium iron phosphate power battery technology within the new energy passenger vehicle sector.

Funeng Technology specifically highlighted related risks in the announcement, noting that this designated development notice is not a final supply agreement. Although both the company and the client have the capacity to fulfill commitments, the project’s final progress and sales scale remain uncertain. Since this project involves customized development for the client, moving from designation to mass production requires multiple key steps such as product quality testing and client evaluation. Whether a formal order will ultimately be secured remains uncertain. Additionally, the company emphasized that this designated notice will not have a significant impact on its operating performance for this year.

As an important player in China’s power battery industry, Funeng Technology has continuously increased its R&D investment in soft pack battery technology in recent years. The SPS Super Soft Pack Power Battery Solution is one of the company’s core technologies for the new energy vehicle market. This cooperation with GAC Group will further enhance the company’s market position within the supply chain of mainstream automakers.

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