Recently, Narada won the bid for China Tower's 2023-2024 centralized bidding project for lithium iron phosphate battery products for power backup, with a won bid amount of about RMB 403 million. This project will further strengthen Narada's position in the industrial energy storage business.
Narada and China Tower have been cooperating in the field of industrial energy storage for many years. From 2020 to September 2023, Narada has won several orders from China Tower. The cumulative amount of energy storage projects winning and signing is approximately RMB2.289 billion.
With the widespread use of 5G technology, lithium iron phosphate batteries are becoming popular in telecom backup scenarios. Narada's industrial backup energy storage business has a leading global market share.
In the future, Narada will continue to work together with China Tower and other energy storage industry ecosystem partners to build a platform for cooperation and give full play to their respective business, resource and other advantages to achieve mutual benefits.