Hongli Group Inc. Announces Strategic Plan to Explore Opportunities in Clean Energy and Energy Storage Applications

Hongli Group (Nasdaq: HLP) announced on May 5, 2026 that it will explore opportunities in clean energy and energy storage, initially focusing on products for solid-state batteries and related components.

Rhea-AI Summary

Hongli Group (Nasdaq: HLP) announced on May 5, 2026 that it will explore opportunities in clean energy and energy storage, initially focusing on products for solid-state batteries and related components. The company plans to leverage its cold roll steel profile manufacturing and product customization expertise.

The announcement cites global renewable growth data from IEA, IRENA and Our World in Data and frames the move as aligned with long-term energy transition trends.

Argus May 5 session

+7.82% close to close Open Argus

Details

News Market Reaction – HLP

On May 5, the day this news came out, HLP closed 7.82% above the previous close.

Data tracked by StockTitan Argus for the May 5 session.

Market Context

On May 5, the day this news came out, the stock closed 7.8% above the previous close. A strong posit...

Analysis

On May 5, the day this news came out, the stock closed 7.8% above the previous close. A strong positive reaction aligns with the strategic nature of this announcement. Hongli Group planned to leverage its steel profile manufacturing capabilities for solid-state battery and energy storage applications, tapping into a clean-tech market valued at nearly $1.2 trillion and growing about 20% annually. However, with the stock trading 54.39% below its 52-week high and a history of capital raises, investors would need to monitor execution risk and any future financing actions.

Key Figures

Renewable capacity increase: 4,600 GW Solar cost decline: 90% Onshore wind cost decline: 70% +4 more

Renewable capacity increase

4,600 GW

Projected global renewable power capacity growth 2025–2030 (IEA)

Solar cost decline

90%

Solar photovoltaic cost decline over the last decade

Onshore wind cost decline

70%

Onshore wind cost decline over the last decade

Cost-competitive projects

91%

2024 new renewable power projects cheaper than new fossil alternatives

Clean tech market value

$1.2 trillion

Aggregate market value of selected clean energy technologies in 2024

Clean tech growth rate

20% per year

Average annual growth of selected clean energy technologies since 2015

Clean energy share of GDP

more than 10%

Clean energy contribution to China’s GDP in 2024

Key Terms

solid-state battery, solar photovoltaic, battery storage

3 terms

solid-state battery technical

"developing products and components that may be used in solid-state battery and other"

A solid-state battery is a type of rechargeable battery that uses a solid material instead of liquid or gel-like substances to store and transfer energy. This design can make batteries safer, more durable, and capable of holding more power in a smaller space. For investors, advancements in solid-state batteries could lead to better-performing electric vehicles and portable electronics, potentially transforming markets and creating new opportunities.

solar photovoltaic technical

"According to Our World in Data, solar photovoltaic costs have fallen by 90% in the last"

Solar photovoltaic is a technology that converts sunlight directly into electricity using panels made of materials that generate a flow of electrons when struck by light. For investors, it matters because photovoltaic systems create predictable, long-lived revenue or cost savings from producing power, and their economics—installation cost, efficiency, lifespan, and government incentives—drive returns much like the performance and upkeep of a factory determine its profit.

battery storage technical

"battery storage is the fastest-growing clean energy technology in the power sector."

Battery storage is a system that stores electricity in large rechargeable batteries so power can be used later, like a reusable fuel tank for the grid. Investors care because it smooths out when energy is available vs. when it’s needed, can lower costs, create new revenue from selling stored power at peak times, and reduce reliance on unpredictable energy sources, affecting utility and clean-energy company valuations.

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WEIFANG, China, May 5, 2026 /PRNewswire/ -- Hongli Group Inc. (Nasdaq: HLP) (the "Company" or "Hongli Group"), a cold roll formed steel profile manufacturer, today announced its strategic decision to explore opportunities in the clean energy and energy storage sectors. The Company plans to leverage its existing manufacturing expertise, product customization capabilities and industry know-how, with an initial focus on developing products and components that may be used in solid-state battery and other energy storage applications. The Company believes that its experience in designing and manufacturing customized steel profile products may provide a foundation for developing products and solutions for customers in clean energy and energy storage applications.

The Company's strategic plan is aligned with the continued global shift toward sustainable power and energy storage solutions. According to the International Energy Agency (IEA), global renewable power capacity is projected to increase by almost 4,600 GW between 2025 and 2030. This growth has been supported by a shift in economics. According to Our World in Data, solar photovoltaic costs have fallen by 90% in the last decade, and onshore wind by 70%. In addition, IRENA reported that 91% of new renewable power projects commissioned in 2024 were more cost-effective than any new fossil fuel alternatives. According to the IEA, batteries are expected to play a critical role in secure clean energy transitions, and battery storage is the fastest-growing clean energy technology in the power sector. The IEA has also reported that the aggregate market value of selected clean energy technologies has grown at an average rate of approximately 20% per year since 2015, reaching nearly $1.2 trillion.

"Our planned entry into the clean energy and energy storage sectors represents an important step for Hongli Group," said Mr. Jie Liu, Chief Executive Officer of Hongli Group. "With clean energy contributing more than 10% of China's GDP in 2024 and global policy initiatives targeting a significant expansion of renewable capacity by 2030, we intend to evaluate opportunities in solid-state battery and energy storage applications where our manufacturing capabilities and product customization experience may be relevant. We believe this strategic direction is consistent with global energy transition trends and may deliver long-term, sustainable value to our shareholders."

About Hongli Group Inc.

Hongli Group Inc. is a Cayman Islands holding company, and through a series of contractual arrangements, consolidates the financial results of Shandong Hongli Special Section Tube Co., Ltd. and its subsidiaries (collectively, "Hongli Operating Group"). Hongli Operating Group is a cold roll formed steel profile manufacturer with operating subsidiaries in China. The Hongli Operating Group designs, customizes and manufactures cold roll formed steel profiles for machineries and equipment in a variety of sectors, including but not limited to mining and excavation, construction, agriculture and transportation. The Hongli Operating Group, with over 20 years of operating history, has developed customers in more than 30 major cities in China as well as a global network including South Korea, Japan, U.S. and Sweden. Hongli Operating Group currently has 11 cold roll forming production lines and produces a variety of distinct profile products in a broad range of materials, sizes and shapes.

Forward-Looking Statements

Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "would," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," "continue" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, import and export restrictions, fluctuations in general economic and business conditions, the Company's ability to comply with Nasdaq continued listing standards and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

View original content:https://www.prnewswire.com/news-releases/hongli-group-inc-announces-strategic-plan-to-explore-opportunities-in-clean-energy-and-energy-storage-applications-302762264.html

SOURCE Hongli Group Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Hongli Group (HLP) announce on May 5, 2026 about clean energy?

Hongli Group announced it will explore opportunities in clean energy and energy storage. According to the company, initial focus is on developing products and components for solid-state batteries using its steel profile manufacturing and customization capabilities.

How will Hongli Group (HLP) leverage its manufacturing for energy storage products?

Hongli Group plans to use its cold roll steel profile manufacturing and customization experience to evaluate energy storage components. According to the company, this expertise may provide a foundation for product development in solid-state battery applications.

Does Hongli Group (HLP) provide a timeline or commitments for entering energy storage?

No firm timeline or binding commitments were provided in the announcement. According to the company, the statement describes a strategic plan to explore opportunities rather than confirmed contracts or commercial launches.

What market context did Hongli Group (HLP) cite to support its strategic shift?

Hongli Group cited IEA, IRENA and Our World in Data metrics showing rapid renewable capacity growth and falling costs for solar and wind. According to the company, these trends underline growing demand for battery and energy storage solutions.

What does the May 5, 2026 announcement mean for HLP shareholders?

The announcement signals a strategic exploration into new markets rather than immediate revenue changes. According to the company, the effort aims to evaluate opportunities where its manufacturing skills may align with energy storage demand over the long term.