The prospectus reveals three straight years of robust revenue growth. Revenue reached RMB451 million (US$66.42 million) in 2023, RMB494 million in 2024, and a 42% year-over-year jump to RMB703 million in 2025. Net profit attributable to parent company shareholders ballooned from RMB12 million to RMB54 million, surging 62.23% year-on-year in 2025, underscoring consistent profitability gains. Gross margins ranged between 22% and 27% over the three-year period, while net margins rose from 2.73% to 7.66% — a clear sign of steady operational improvement.
The bulk of the company’s revenue comes from direct sales of decentralised storage systems. Its client base includes energy developers, grid distributors, C&I operators, renewable energy funds, and storage system integrators. Backed by a mature and comprehensive product portfolio, Cubenergy operates across mainland China and key overseas markets in Europe, Africa, and South America, with international business serving as its primary growth driver.
Per Frost & Sullivan industry research, Cubenergy captured a 5.5% share of Europe’s decentralized C&I storage market in 2025, ranking fifth among Chinese manufacturers. In the Nordic market specifically, its market share climbed to 22.3%.
