Elong Power Holding Ltd. has made headlines with the announcement of a substantial cooperation agreement worth at least RMB2 billion (approximately US$300 million). This agreement, effective immediately, signifies a major breakthrough for the company in the domestic energy storage sector.

On November 5, 2026, Elong Power revealed that its wholly-owned subsidiary, Elong Power (Beijing) Co., Ltd., entered into a three-year energy storage equipment cooperation agreement. This partnership is expected to bolster the company’s order reserves and enhance its core energy storage business.

Background

Elong Power Holding Ltd. operates in the miscellaneous electrical machinery, equipment, and supplies sector (SIC: 3690). The company is listed on the Nasdaq under the ticker symbol ELPW. Elong Power focuses on providing intelligent energy storage system solutions, including portable and large-scale energy storage systems.

What the Filing Says

The filing states, "Elong Power (Beijing) Co., Ltd. has entered into a three-year energy storage equipment cooperation agreement with a total procurement value of no less than RMB2 billion (approximately US$300 million)." The agreement is a recognition of Elong Power's capabilities in energy storage system supply.

Impact

This agreement is poised to affect various stakeholders, including domestic grid-side independent energy storage developers who will prioritize procurement from Elong Beijing. The cooperation agreement is expected to yield significant sales revenue, with the first purchase contract anticipated to be signed in January 2027, valued at no less than RMB300 million (approximately US$45 million).

What's Next

The filing does not say what happens next, but the company’s management expressed optimism about the future, stating that this agreement lays a solid foundation for energy storage equipment sales over the next three years.