In terms of demand for new‑energy vehicle development, the market outlook is exceptionally promising. At present, NEVs are experiencing sustained, explosive growth and are gradually entering a phase of market‑driven expansion, ushering in a new stage of development and growth. Although production and sales have been affected by adverse factors such as the pandemic and persistently high raw‑material prices for power batteries, a series of policies—ranging from tax incentives to subsidies—designed to boost NEV consumption have helped overall output and sales exceed expectations. According to statistics, in 2022, NEV production and sales reached X million units and X million units, respectively, up year on year by X% and X%, maintaining their position as the world’s largest for the eighth consecutive year. Looking ahead, the NEV market will continue to expand in both breadth and depth.

• On the demand side, global sales of new-energy vehicles would need to maintain an annual growth rate of 30% to meet projected sales targets; in 2020, the COVID‑19 pandemic severely hampered the growth of the global automotive market.

Looking at the sales trends of electric vehicles, it’s clear that their market share is steadily increasing. Moreover, major automakers are all shifting toward new‑energy vehicles. This indicates that NEVs have become an inevitable trend—only a matter of when, not if.

China’s new‑energy vehicle industry has officially taken center stage. With the Olympic Games and government subsidies, NEVs have stepped onto the global stage. Whether hybrid or all‑electric, these vehicles rely heavily on batteries—indeed, batteries are the true heart of the new‑energy vehicle sector.

According to the data, the growth rate of China’s new-energy vehicle (NEV) sector has far exceeded expectations. Analysts project that, at the current pace, annual NEV sales in China will surpass [specific figure] by 2025. Against the backdrop of further expansion in the global NEV market, NEV suppliers with clear competitive advantages are likely to continue reaping benefits.

The subsidiary, Shenzhen Zhongneng, has jointly established, with a partner in Guizhou, a company for the construction and operation of [project name]. The joint venture has a registered capital of [amount], with Shenzhen Zhongneng contributing [amount] and holding a 56% stake.

In fact, as electrification and intelligent technologies continue to advance in the automotive industry, China’s mid- to high-end new‑energy vehicle market boasts substantial growth potential, presenting a major opportunity for domestic brands to move upmarket. According to projections by the vice chairman and secretary-general, in 2023, China’s NEV market is expected to see year‑on‑year production and sales growth of around 40%, with penetration approaching 40% and total volumes nearing 10 million units. Taking into account factors such as model availability and life‑cycle vehicle costs, it is anticipated that mid‑ to high‑end NEV models will accelerate their market penetration this year, driving a continued shift in the sales mix from a dumbbell‑shaped distribution toward a spindle‑shaped one.