Wielding the pen of endeavor to depict the new energy landscape, and using breakthrough as ink to chronicle the glorious chapters of our contributors
The Power of Growing Upward
⸺ Written on the Occasion of the Inaugural Issue of LIGOO People
Dear LIGOO colleagues,
When we stand atop the surging wave of the booming new energy industry and look back over the past few years — LIGOO’s new energy business has progressed from breakthroughs to market leadership, achieving “year-on-year doubling” in revenue, market share, and technology patents. This result is no accident of favorable industry tailwinds; it is the fruit of every “LIGOO person” who measured the market with their footsteps, conquered technology with their sweat, and withstood growth pressure with perseverance. Looking back, we also fought many hard battles together: in the face of unprecedented challenges, teams worked through the night just to deliver R&D results on schedule; when some projects saw customer requirements change abruptly, R&D and engineering moved in lockstep to connect the entire chain in the shortest possible time, so that no commitment would be delayed. Those laboratories lit through the night, those remote conference calls, those lines of revised code and drawings — they are the true annotation of “LIGOO speed,” and even more, the most precious spiritual imprint of the “LIGOO people.” Today, the birth of the LIGOO People internal publication is precisely to preserve these imprints — to preserve the courage we showed in “daring to venture and fight” on the new energy track, to preserve the tenacity with which we “saw things through to the end” in breaking technical barriers, and even more to preserve the warmth of “working as one” when facing growth pressure. In the future, competition in the new energy industry will only grow fiercer, and the goal of “doubling growth” will face new challenges. But we firmly believe that as long as we uphold the spiritual core of the “LIGOO people,” seize industry opportunities with foresight, break through to new heights of development with a breakthrough mindset, and amplify growth momentum through collaboration, LIGOO will not only sustain the “doubling miracle” but also carve the name of the “LIGOO people” onto the global new energy map! We look forward to LIGOO People becoming our “spiritual home” — recording every breakthrough, carrying forward every act of perseverance, and uniting every ounce of strength, as we set out anew with all LIGOO people toward the next “doubling goal”! On September 29, 2025, at the auditorium of the Yantai International Expo Center, the Yantai Municipal Conference on Doubling the Development of Advanced Manufacturing Enterprises was held, where LIGOO New Energy was honored with the “Advanced Manufacturing Enterprise Doubling Development Award.” The “Advanced Manufacturing Enterprise Doubling Development Award” is a government honor established to promote the development of advanced manufacturing enterprises, recognizing those that achieve significant growth in key economic indicators such as output value or operating revenue within a set period and meet predetermined doubling or growth-rate targets. The following is the speech delivered by Chairman Wang Hanchao at the conference:
Doubling Momentum Propels Us Forward; Lofty Aspirations Stand Tall
The tide of the times surges ahead, and the horn of endeavor sounds in unison. Today’s Yantai stands at a new starting point on its journey toward a trillion-yuan economy, accelerating the transformation and upgrading of manufacturing and continually opening new horizons of high-quality development. Seizing the doubling-development opportunity, LIGOO New Energy has seen its competitiveness grow steadily — its operating revenue leapt from RMB 80 million in 2020 to RMB 1.6 billion in 2024, a nearly twentyfold increase over four years, and revenue in the first three quarters of this year has broken through once again, running at “LIGOO acceleration.”
The convening of this conference by the Municipal Party Committee and Municipal Government fully reflects their firm resolve to develop advanced manufacturing and support enterprises in achieving leapfrog growth, and it gives us strong confidence to tackle difficulties head-on and create new glory. As the largest domestic professional BMS supplier with the broadest vehicle coverage, we will strive to exceed RMB 3 billion in full-year operating revenue and surpass RMB 10 billion by 2027, demonstrating LIGOO New Energy’s unyielding commitment through solid, measurable results!
First, build core strengths through innovation and lead the new energy “smart control” track. As the new energy industry undergoes a profound shift toward “intelligence and safety,” the Battery Management System (BMS), as the core hub, directly determines an enterprise’s competitiveness. Going forward, anchored to our goal of building the battery’s “strongest brain,” we will invest RMB 1.5 billion over three years, leverage our full-stack technical capabilities to deeply integrate functional safety, information security, and artificial intelligence, and establish a closed-loop technical system of “precise sensing – active defense – intelligent decision-making.” We will achieve vertical integration across the full value chain of “chip – algorithm – data – scenario,” comprehensively enhancing the BMS’s accuracy, safety, and evolution efficiency, pioneering a new model of intelligent, safe new energy management, and injecting strong momentum into the company’s doubling development.
Second, empower doubling through manufacturing and build a high-end, intelligent, and green industrial highland. A grand blueprint requires a solid manufacturing foundation. Going forward, the company will invest several billion yuan in the Phase III project of the LIGOO Industrial Park, accelerate the expansion of high-end SMT (Surface Mount Technology) production lines, and build an advanced manufacturing base with an annual capacity of 6 million units of battery management systems and automotive electronics products. We will establish a digital, intelligent, and green vertical manufacturing system; upon reaching full capacity, the project is expected to add RMB 2 billion in operating revenue and form overall competitiveness across the entire industrial chain.
Third, expand market space through service and integrate into the new global landscape of new energy development. In an era where globalization and localization advance in concert, we must both cultivate the domestic market to solidify our foundation and look to the globe to seize opportunities. Going forward, while strengthening local collaboration across the industrial chain, LIGOO will actively expand into global markets, making precise moves in key regions such as Europe and Southeast Asia, and fully develop new fields including energy storage systems and powertrain domain controllers. We aim for our products to reach over 80 leading new energy enterprises worldwide, imprinting the label of “Yantai intelligent manufacturing” on more international products and truly integrating into the new global development landscape of the new energy industry.
From the crest of the tide we row onward; boundless vistas lie ahead. The wave of the new energy industry surges forward — both a challenge and an unprecedented opportunity. Seizing the momentum of this conference, LIGOO New Energy will uphold its philosophy of “technology as the core, market as the wings,” lead growth through innovation, and demonstrate commitment through concrete action, contributing to Yantai’s building of a strong advanced-manufacturing city!
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