During the May Day holiday, when most people are enjoying their leisure, the Penghui Energy Storage Automation Production Line in Zhejiang Quzhou Intelligent Manufacturing New City is operating 24 hours a day.
The company’s overseas project manager revealed that the production plan has been scheduled until September this year.
The busy scene of this battery company is the epitome of the foreign trade of the inland city of Quzhou, which is bucking the trend.
In the first quarter of 2026, the city’s total import and export volume was 23.446 billion yuan, a year-on-year increase of 28%; the export volume was 16.57 billion yuan, a year-on-year surge of 40.2%. Both imports and exports and export growth ranked among the top in Zhejiang Province.
Behind the overflow of orders is the strong jump in Penghui Energy’s financial data.
The first quarter report of 2026 shows that the company achieved operating income of 4.768 billion yuan, a year-on-year increase of 182.14%; the net profit attributable to shareholders of the listed company was 323 million yuan, successfully turning losses into profits year-on-year.
This single-quarter profit has exceeded its full-year net profit of 206 million yuan in 2025.
As one of the first domestic leading battery companies to get involved in the energy storage field, Penghui Energy has a solid market position.
Its energy storage battery shipments have ranked among the top eight in the world for many consecutive years, its household energy storage battery cell shipments have ranked second in the world, and its industrial and commercial energy storage systems have ranked among the top two in the country.
The core engine of performance growth comes from the explosion of demand in the global energy storage market.
Since Penghui Energy started large-scale exports in October 2025, its overseas business has continued to grow rapidly.
The company’s shipments in 2025 will increase by more than 100% year-on-year, and foreign trade exports in the first quarter of 2026 will reach 248 million yuan.
“As the global energy storage market demand explodes, various departments in Quzhou have taken the initiative to provide Penghui Energy with comprehensive training and guidance on international certification, overseas logistics, etc., to help companies seize opportunities.” Its products have formed a full-scenario matrix covering large-scale energy storage, industrial and commercial energy storage, household and portable energy storage, with customers in key regions such as India, Southeast Asia, Europe, and the United States.
Overseas large storage orders will achieve breakthrough growth in 2025, with revenue reaching 1.793 billion yuan, a year-on-year increase of 72.98%.
Located inland in western Zhejiang, Quzhou uses systematic services to clear the way for companies like Penghui Energy to go overseas.
Service measures are specific and subtle.
In terms of logistics optimization, Quzhou Port opened the “Quzhou-Zhapu-Ningbo” foreign trade regular liner route, achieving fixed weekly departures, significantly reducing single-box logistics costs and improving customs clearance efficiency.
In terms of platform empowerment, the business of the Quzhou Comprehensive Bonded Zone has continued to grow since it was put into operation in June 2025. The bonded import and export volume in the first four months of this year has exceeded 2 billion yuan, and it is extending into the bonded processing field.
In terms of policy attack, members of the Intelligent Manufacturing New City Grid intervened in advance before the company’s export policy was adjusted, providing “one-on-one” counseling and even staying on site to help optimize the customs declaration process and seize policy dividends.
Faced with continued market demand, Penghui Energy is stepping up production capacity expansion and strategic transformation.
In terms of increasing production capacity, the construction of the second phase of the Quzhou base factory has been completed. It is expected to achieve mass production of 587Ah large-capacity battery cells in 2026. It has already received orders from domestic customers.
An energy storage battery project with a total investment of 12 billion yuan and an annual output of 36GWh has entered the indoor decoration stage and is planned for trial production in June this year.
In terms of technical reserves, the company has completed the development of polymorphic sodium-ion battery products and built a solid-state battery pilot line, targeting high-end applications.
The company’s assistant to the chairman described a grander blueprint: “We want to transform from a traditional battery manufacturer into a supplier of green energy solutions, creating multiple application scenarios such as photovoltaics, energy storage, and charging.” This transformation idea coincides with Quzhou’s plan to focus on the advantages of new energy and new materials industries to tap the potential for new increases in foreign trade.
The continuous operation of Penghui Energy Production Line is not only a reflection of a company seizing the opportunities of the global energy revolution, but also reveals that inland cities can also take the lead on the track of opening up to the outside world by consolidating industrial foundations and providing ultimate corporate services.
As Quzhou plans to organize 200 companies to participate in about 100 international exhibitions in the second quarter, this advanced foreign trade story driven by both industry and policy has yet to be completed.
