HyperStrong

Business

HyperStrong (北京海博思创科技股份有限公司) designs, builds and sells battery energy storage systems, mainly for grid-side and generation-side projects in China, plus commercial and industrial sites. It earns its revenue and profit mainly from selling storage systems (2026 interim report, p. 15).

It buys most of the hardware: the main purchased materials are battery cells, structural parts, electrical parts, PCS and converter-transformer cabins, and electronics. Its own work is in battery modelling, battery management (BMS), energy management (EMS), system integration and operations, and it also has in-house PCS designs for some products (pp. 12, 22, 30). Kehua Data names HyperStrong among its storage customers (Kehua 2026 interim report, p. 14).

Position

• Citing the China Electricity Council, it says it ranked first in China by installed capacity of operating storage stations at the end of 2025. Citing S&P Global Energy, it says it ranked first among mainland Chinese integrators by cumulative installed and contracted capacity as of July 2025 (p. 17).
• It says it has delivered more than 60 GWh of storage systems in total (p. 20).
• Abroad, it says it has won GWh-scale orders in the United States, Germany and Italy, signed a global strategic cooperation agreement with SMA Solar Technology, and plans new capacity in Southeast Asia (p. 18). It does not give an overseas revenue figure in the report.

Results in the first half of 2026

• Revenue rose 39.23% to ¥6.30bn and net profit attributable to shareholders rose 100.16% to ¥632.2m (p. 8).
• Revenue less cost of sales gives a gross margin of about 21.5%, up from about 17.5% a year earlier (our calculation from p. 31).
• Operating cash flow was negative ¥1.21bn, against negative ¥1.65bn a year earlier (p. 8).

The company's own caveats

• Inputs. Cell prices follow lithium carbonate, so higher lithium prices would hit its margins. It says some high-end parts, such as BMS controller chips, still rely on imported brands (p. 30).
• Policy. From January 2026 independent grid-side storage in China can earn capacity payments, but the company notes these depend on availability and performance tests, so its systems' reliability decides whether the income arrives (p. 31).
• Trade. It warns that the US and EU are building protection for local storage supply chains, and that extra tariffs or local-content rules would raise costs and limit access. Revenue abroad is in dollars and euros while costs are in yuan (p. 31).