Group 1 - China National Petroleum Corporation (CNPC) has established a new energy technology company, China Petroleum Jichai Times (Shandong) New Energy Technology Co., Ltd., with a registered capital of 77 million yuan located in Jinan, Shandong Province [1] - The company's business scope includes energy storage technology services, emerging energy technology research and development, battery manufacturing and sales, and mechanical and electrical equipment manufacturing [1] - The company is a joint venture between Jichai Power, a subsidiary of CNPC, which holds a 60% stake, and CATL (Contemporary Amperex Technology Co., Ltd.), which holds a 40% stake [1] Group 2 - CATL is a leading player in the research and manufacturing of energy storage cells and has been a supplier to Jichai Power [3] - In 2024, CATL was selected as a primary supplier of lithium iron phosphate battery energy storage systems and energy storage cells for CNPC [3] - Both Jichai Power and CATL have a market share of 0% to 5% in the lithium-ion battery energy storage system market in China, while CATL holds a 20% to 25% share in the lithium-ion energy storage battery market [3] - The collaboration aims to leverage each company's technological strengths to further expand their market presence in the new energy sector [3]