RNBC’s Market Debut: Powering Green Innovation

On December 23, 2025, RNBC New Energy Co., Ltd. (Stock Short Name: RNBC; Stock Code: 301667.SZ) was officially listed on the ChiNext Board of the Shenzhen Stock Exchange! With an offering price of RMB 22.63 per share, the stock opened at RMB 60 per share and maintained a steady trend during the trading session, achieving an impressive increase of 165.13%. Its outstanding performance has ignited enthusiasm in the capital market, demonstrating global investors' firm optimism about the golden track of low-carbon thermal management, as well as their high trust in RNBC's core technological strength and leading position in the industry.

At the Listing Ceremony Venue

Mr. Chen Rongxian, Chairman of RNBC, Mr. Chen Chaopengyu, Secretary of the Board, joined hands with Mr. Chen Po, Deputy Secretary and Acting County Mayor of Taishun County Party Committee of Wenzhou City, and Mr. Qian Wenhai, Chairman of Zheshang Securities, to jointly strike the gavel, sounding the forging-ahead bell for the enterprise to deepen its commitment to zero-carbon thermal management and enter the capital market. Mr. Shen Xianke, Deputy Secretary-General of Wenzhou Municipal People's Government, Mr. Xiang Guangda, Chairman of the Board of Directors of Tsingshan Holding Group, Mr. You Xiaoping, Chairman of the Board of Directors of Huafeng Group, customer representatives from CATL and Sungrow Power Supply, as well as leaders from various government departments, customers, suppliers, partners, and financial institutions, were present to celebrate this grand occasion and jointly witness a key milestone in the high-quality development of China's low-carbon technology industry.

Frontrunner in Power/Energy Storage Battery Thermal Management

As a global leader with over 20 years of deep expertise in the thermal management, RNBC has established a full industrial chain layout covering R&D, production, and sales. The company has built an industrial network consisting of "four major production bases (Taishun, Ma'anshan, Chuzhou, Meishan) + three R&D centers + four global talent and sales centers (Shanghai, South Korea, Europe, North America)", forming a global radiation capacity for supply and services. RNBC takes the lead in drafting industry standards and holds 203 core patents. Its R&D spans the interdisciplinary application of materials science, mechanical engineering, thermodynamics, fluid mechanics, and other disciplines, with six core technology systems solidifying its competitive barriers. Additionally, the company boasts industry-leading automated and intelligent production lines with zero manual contact during the manufacturing process.

RNBC's products are adapted to multiple scenarios including passenger cars, buses, construction machinery, energy storage, data centers, urban air mobility, and marine vessels. As a Class A supplier to numerous global top-tier automotive manufacturers, battery makers, and power equipment suppliers such as T Company, Geely, Chery, Leapmotor, CATL, CALB, Sungrow Power Supply, and Huawei, as well as a strategic cooperation supplier of CATL, RNBC maintains long-term and stable cooperative relationships. It collaborates with over 50 renowned automakers and supports more than 200 vehicle models, holding a globally leading market share in both power battery and energy storage battery thermal management.

In 2024, the company's revenue exceeded RMB 1.4 billion, with a compound annual growth rate (CAGR) of 204% in the energy storage sector over three years. It has accumulated a total supply volume of over 15 million units with zero end-user after-sales quality complaints, solidifying its position as an indispensable core supporting force for the global low-carbon economy through its robust technical strength.

A Trillion-Yuan Track Across Multiple Scenarios Driven by Policies and Market Demand

Currently, the low-carbon thermal management sector is ushering in a trillion-yuan development opportunity driven by the dual resonance of policy impetus and market demand. According to data from the China Association of Automobile Manufacturers (CAAM), the penetration rate of domestic new energy vehicles (NEVs) reached 40.9% in 2024 and further rose to 41.16% in the first quarter of 2025. The Technology Roadmap for Energy Conservation and New Energy Vehicles 2.0 clearly states that the proportion of electric vehicles will exceed 50% by 2035. Alone, the domestic market size of power battery liquid cooling plates is expected to reach RMB 9.6 billion in 2025.

Benefiting from the global advancement of "dual carbon" goals, the cumulative installed capacity of China's new energy storage sector is projected to achieve a compound annual growth rate (CAGR) of 37.4% under the conservative scenario and as high as 45% under the optimistic scenario during 2024-2028. The penetration rate of liquid cooling solutions will fully surpass that of air cooling by 2025. Coupled with the accelerated release of demand in emerging fields such as data centers, low-altitude aircraft, and marine vessels, the resonance of multi-scenario applications is driving the track to expand rapidly toward a trillion-yuan scale, with its long-term growth potential continuing to stand out.

Consolidate Core, Expand Emerging, Global Layout

Based on the new starting point of the capital market, RNBC has defined its development plan as "Consolidate Core, Expand Emerging, Global Layout". In the future, the company will continue to focus on the two core markets of new energy vehicles and energy storage, while deeply engaging in full-scenario thermal management, deploying in emerging tracks such as data centers, low-altitude aircraft, and marine vessels, and building a full-scenario thermal management solution of "mobile + stationary + special". By continuously tackling cutting-edge technologies such as thermal management for ultra-10C fast-charging batteries, deepening the full penetration of liquid cooling technology in the energy storage sector, and accelerating the global overseas market layout, RNBC will break industry boundaries through technological innovation, seize development opportunities with its full industrial chain advantages, and strive to become a world-leading leading enterprise in low-carbon thermal management and a core incremental contributor to the zero-carbon economy.

"Maximizing Energy Efficiency" is RNBC's original aspiration and long-term vision; "Joining hands to march towards a zero-carbon future and bringing green technology into thousands of households" is the enterprise's firm commitment. Over more than 20 years of trials and hardships, RNBC has grown from a corner of Taishun to an industrial benchmark with a global layout, and from initial exploration to a highlight moment in the capital market. This glory belongs to every RNBC person who has fought side by side, and more importantly, to the government departments, global customers, suppliers, partners, and financial institutions that have long supported the company's development.

In the tide of the era of low-carbon transformation, only strivers can stand at the forefront. Standing at the new starting point of listing, RNBC will take the capital market as its wings and technological innovation as its core engine, continue to tackle key green core technologies, expand the global green market territory, achieve win-win cooperation with all partners, demonstrate the strength of China's intelligent manufacturing in the historical process of low-carbon to zero-carbon transformation, and jointly write a new chapter in the global zero-carbon economy.