For example, in April 2023, Kelu Electronics completed the launch of Aqua series of new products, which significantly improved the cycle life, energy density and energy efficiency. With fully self-developed PCS, DC/DC, BMS, EMS and O&MS and other control units and energy storage application scenarios covering the project application capabilities, become one of the industry leading enterprises. Relying on leading technology advantages and in-depth insight into the global market, Kelu Electronics actively expands overseas markets and has achieved remarkable results. In the European and American markets, it has the first large-scale lithium energy storage project of 24MW/63MWh in Indiana, 39MW/180MWh grid side energy storage project in California, 99MWh large-scale energy storage power plant project in Texas, and the largest 485MWh grid side energy storage project in South America. In 2023, in Munich, Germany, solar photovoltaic exhibition, the United States photovoltaic Energy storage exhibition (RE+) and other overseas heavyweight exhibitions to attract the attention of the industry, but also in September officially unveiled the establishment of Kelu US energy storage company, to create international products, capabilities, channels and teams, around the “full scene application”, “full life cycle service”, “full product matrix integration”, better understand customer needs. Maximize customer operations.

Thanks to the experience of Midea Group in the field of home appliances, as well as the in-depth understanding of the needs of end customers, the deep development of the field of household energy storage from design, products to solutions, comprehensive integration including photovoltaic system, household storage system, intelligent energy management system, with technological innovation and product upgrades, to promote the household storage more safe, reliable and intelligent application. It has been well received in the Polish Energy Show, the Munich Solar Photovoltaic Show and other industry exhibitions and domestic and foreign markets. In addition, by the end of 2023, Midea distributed PV has completed the completion and acceptance of several projects in the field of industrial and commercial PV, such as the first phase of Kuka Robot (Guangdong) Co., LTD. Photovoltaic power station, Huaian Weiling Motor distributed photovoltaic power generation and Midea Refrigerator Jingzhou Factory. Among them, the 22.28MW rooftop distributed photovoltaic power generation project of the Midea Refrigerator Jingzhou factory was officially connected to the grid not long ago, and a beautiful “green landscape” promoted the green power strategy of the Midea Group to accelerate the implementation. In the field of household photovoltaic, the construction of household photovoltaic power stations has been gradually carried out in 13 provinces in China, making positive

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contributions to helping rural revitalization.

The steady expansion of “smart transportation” has boosted the high-quality development of new energy travel

The process of vehicle electrification is accelerating, and the global sales of new energy vehicles continue to rise, but at the same time, the problems of slow charging, low driving range, and high energy consumption still plague the further release of the potential of the new energy vehicle market. Relying on the rich experience and technical reserves of Midea industrial technology in the fields of compressors, motors and other fields as well as accurate insights into the new energy market, Weiling automotive parts layout of incremental components in the three fields of thermal management, electric drive and chassis execution system, with high standards, high performance and high reliability products to promote the upgrading and high-quality development of the new energy vehicle industry chain.

Following the release of the world’s first mass-produced 800V silicon carbide (SiC) high-speed electric compressor in 2022, Welling Auto Parts also demonstrated the 400V 25CC electric compressor for A00 class cars at the 2023 Shanghai Auto Show, using Midea Industrial technology’s market-tested rotor compressor technology and innovative technology. Significantly improve thermal management efficiency, in line with the next generation of vehicle electrical architecture trends. In December 2023, the project results of Welling Auto parts “CO₂ rotor compressor for Thermal Management of electric passenger cars” also reached the “international leading” level by expert evaluation with more efficient and environmentally friendly thermal management energy efficiency.