Gotion High-Tech — 2025 at a Glance
- Total revenue
- RMB 45.1 B (~$6.2 B)
- YoY change
- +27.35 %
- Net profit (parent)
- RMB 2.38 B (~$328 M)
- YoY change
- +97.49 %
- Overall gross margin
- 16.17 %
- ESS battery revenue
- RMB 9.07 B (20.12 % of total)
- ESS gross margin
- 20.75 %
- ESS shipments (ICC)
- 30+ GWh, 5 % global share
- Global EV battery rank (SNE)
- #5 globally, up 3 places
Energy storage reached 20.12% of total revenue — a higher proportion than CATL (14.7%) but below EVE Energy (39.76%) and Sungrow (32.06%). ESS revenue grew 15.76%, while global ESS lithium battery shipments grew 76.2% (EVTank).
All RMB. *Sungrow figure is FY2024.
ESS batteries carry a 4.58pp margin premium over Gotion's overall gross margin (16.17%). ESS gross margin fell 1.00pp year-on-year and power battery gross margin fell 0.75pp.
*Sungrow figure is FY2024.
BNEF Tier 1 listed. Ranked #5 globally for all batteries (53.5 GWh installed, +82.5% YoY, per SNE Research). Also claims 28% share in the data center UPS and base station backup battery niche.
*Sungrow figure is FY2024.
Net profit nearly doubled to RMB 2.38B from RMB 1.21B in 2024. Operating cash flow improved 33.96% to RMB 3.62B. Total assets grew 17.97% to RMB 127.2B. However, Q4 posted a net loss of RMB 150M despite the highest quarterly revenue (RMB 15.56B). Financial expenses rose 71.22% to RMB 1.44B, primarily from foreign exchange losses.
1. Revenue breakdown
| Segment | 2025 Revenue (RMB B) | % of Total | YoY Change |
|---|---|---|---|
| Power battery systems | 34.07 | 75.60 % | +32.85 % |
| Energy storage battery systems | 9.07 | 20.12 % | +15.76 % |
| Power transmission & distribution | 0.42 | 0.94 % | -7.43 % |
| Other businesses | 1.51 | 3.34 % | +3.59 % |
Power battery revenue grew 32.85% against 15.76% for energy storage. Total battery sales volume grew 56.30% while total revenue grew 27.35%, which implies a fall in average selling price per kWh (derived).
Domestic revenue grew 43.06% while overseas revenue declined 7.47%, shifting the mix from 31.09% overseas in 2024 to 22.59% in 2025.
2. Margin detail
| Segment | Gross Margin (2025) | Change vs 2024 |
|---|---|---|
| Power battery systems | 14.39 % | -0.75 pp |
| Energy storage battery systems | 20.75 % | -1.00 pp |
| Power T&D products | 17.81 % | -1.87 pp |
ESS gross margin was 6.36pp above power battery systems. All three reported segments recorded lower gross margins than in 2024.
| Region | 2025 Revenue (RMB B) | % of Total | YoY Change |
|---|---|---|---|
| China (mainland) | 34.89 | 77.41 % | +43.06 % |
| Overseas (incl. HK, Macao, Taiwan) | 10.18 | 22.59 % | -7.47 % |
3. ESS product developments
Gotion highlighted several energy storage product milestones in the annual report.
Qianyuan Zhichu 20 MWh system
The flagship utility-scale energy storage system uses a modular splicing design with integrated wind-liquid energy-saving cooling technology. The company describes a seven-level safety protection system and states the design is intended for operation in extreme environments.
Qianyuan Zaidao C&I product
A new industrial and commercial storage product launched during the year, the Qianyuan Zaidao supports flexible 2-hour and 4-hour system configurations with an overall efficiency exceeding 91%. The company positions it for industrial parks, photovoltaic storage charging stations, data centers, and microgrids.
Gendome portable energy storage
The Gendome series (Go300, Home3000) targets the consumer and portable energy storage market. These products are sold in Europe, the Americas, and Asia-Pacific, and represent Gotion’s push into the “To C” (direct-to-consumer) energy storage segment.
UPS and data center backup
Gotion claims the leading global position in the base station and data center UPS backup battery market, with a share exceeding 28%.
4. Reference projects
The annual report lists several energy storage project deployments:
- Baotou Weijun 1.2 GWh grid-side independent energy storage power station — invested and constructed by Gotion, described as achieving full capacity grid connection and setting an industry benchmark in China
- Lower Rio project (USA) — successfully connected to the grid during the reporting period
- Japan energy storage stations — two stations connected to the grid in Japan
Gotion also reports signing orders and cooperation agreements with multiple enterprises during exhibitions in Australia, Japan, and North America during 2025.
5. R&D and technology
R&D investment reached RMB 3.36 billion in 2025, representing 7.47% of revenue and growing 14.86% year-on-year. The R&D team expanded to 4,358 people (+16.09%), representing 13.17% of total staff.
Gotion operates eight R&D centers globally, located in Shanghai and Hefei (China), Tsukuba (Japan), Singapore, Silicon Valley and Cleveland (USA). The company filed 2,698 new patent applications during the year, bringing cumulative applications to 13,254 — including 5,951 invention patents (496 foreign).
Key technology milestones in 2025:
- Solid-state batteries: The first pilot production line for the all-solid-state battery “Jadestone” was commissioned.
- G Yuan hybrid solid-liquid battery: Achieved an energy density of up to 300 Wh/kg, targeting next-generation electric passenger vehicles with 1,000+ km range.
- Qichen II LMFP cell: An ultra-fast charging cell with 240 Wh/kg energy density and 5C fast charging capability for the passenger vehicle market.
- LMFP material: In-house development reported as showing improvements in compaction density and low-temperature performance.
For energy storage specifically, the company plans to launch large-capacity and ultra-long-duration storage products, iterate high-power systems, and complete certification in European and American markets.
6. The Volkswagen partnership
Volkswagen (China) Investment Co., Ltd. became Gotion’s largest shareholder in December 2021. Volkswagen and Gotion Holding jointly serve as the controlling shareholder.
In 2025, the standard battery cells jointly developed by Gotion and Volkswagen entered mass production and were equipped on multiple VW Group vehicle platforms. The report describes this as a milestone in global market expansion.
The report lists Gotion’s top five customers anonymously, with Customer 1 at 10.77% and Customer 2 at 10.41% of revenue. It does not name which customer corresponds to Volkswagen.
7. Global expansion and capacity
Gotion has been building production capacity both domestically and overseas. Domestically, the company has production bases in Hefei, Tongcheng, Lu’an, Chuzhou, Nanjing, Tangshan, Qingdao, Yichun, Liuzhou, and Wuhai. Capacity expansion continued in Wuhu, Hefei, and Nanjing during 2025.
Overseas, two major factory projects are under construction:
- Slovakia New Energy Battery Super Factory — announced December 2024, with an investment of RMB 2.51 billion and accumulated spend of RMB 3.02 billion as of year-end
- Morocco New Energy Battery Production Base — also announced December 2024, with an investment of RMB 3.85 billion and accumulated spend of RMB 6.29 billion
Additionally, a 20 GWh lithium-ion battery intelligent manufacturing base in Jiangsu was announced in August 2025 (investment: RMB 464.8 million).
New subsidiaries established during 2025 include Gotion Spain Green Energy Co., G-Volt Africa Limited, Saudi Arabia Gotion New Energy Co., and Fortune Power B.V. (Netherlands), covering Europe, Africa and the Middle East.
8. Global ESS market context
The annual report includes industry data points that frame Gotion’s position:
- Global ESS lithium battery shipments reached 651.5 GWh in 2025, a 76.2% year-on-year increase (EVTank). Chinese enterprises accounted for 94.4% of the global total.
- China’s new energy storage installations reached 66.43 GW / 189.48 GWh, up 52% / 73% year-on-year (CNES).
- Household and portable energy storage shipments reached 58.8 GWh, surging 117.7% (ICC).
Gotion’s 30+ GWh of ESS shipments in a 651.5 GWh global market implies a roughly 4.6% share. For context, CATL shipped 121 GWh (+29%) in the same period. EVE Energy shipped 71.05 GWh (+40.84%). Gotion’s ESS revenue grew 15.76% against 76.2% growth in global ESS lithium battery shipments.
9. Signals from the filing
ESS gross margin of 20.75% vs 14.39% for power batteries — a 6.36pp difference.
Standard battery cells co-developed with Volkswagen entered mass production on multiple VW Group platforms.
Net loss of RMB 150M in Q4 on the year's highest quarterly revenue (RMB 15.56B).
Fell from 31.09% to 22.59% of revenue. FX losses drove financial expenses up 71.22% to RMB 1.44B.
Gotion's ESS revenue grew 15.76% while the global ESS market grew 76.2% (EVTank). CATL ESS grew 9.0% and EVE ESS grew 28.45%.
Claims a global share above 28% in base station and data center UPS backup batteries.
Gotion's product range spans utility-scale (Qianyuan Zhichu, 20 MWh), C&I (Qianyuan Zaidao, 2-hour and 4-hour configurations) and consumer portable storage (Gendome). Overall gross margin was 16.17%, with ESS batteries carrying a 4.58pp premium over that figure. The company reported a Q4 loss of RMB 150 million on RMB 15.56 billion of revenue. The Slovakia New Energy Battery Super Factory was announced in December 2024 with an investment of RMB 2.51 billion and accumulated spend of RMB 3.02 billion at year-end; the annual report states no production start date. EU-manufactured cells are relevant to projects subject to the EU funding restrictions.
10. Related reading
- CATL 2025 Annual Results — 121 GWh ESS shipped, RMB 62.4B ESS revenue
- EVE Energy 2025 Annual Results — 71 GWh ESS shipped, 39.76% of revenue from ESS
- Sungrow FY2024 Annual Results — 28 GWh shipped, 36.69% ESS gross margin
- Samsung SDI 2025 Annual Results — KRW 13.27T revenue, operating loss
- Gotion High-Tech Sustainability Overview
- Browse all Battery Cell manufacturers · Browse all DC Block manufacturers
11. Sources
All Gotion data in this article is sourced from Gotion High-Tech’s official 2025 Annual Report, published on the Shenzhen Stock Exchange in April 2026. Peer comparison figures are sourced from the respective manufacturers’ annual reports as published on this site.
- Gotion High-Tech 2025 Annual Report — Filed on CNINFO (Shenzhen Stock Exchange), full financial statements and MD&A
- Gotion High-Tech Manufacturer Profile — BESS Manufacturers directory page
- Industry data attributed to SNE Research, EVTank, ICC, and CNES as cited in Gotion’s report
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