Core Insights - Wuhan Weinan Battery Asset Co., Ltd. announced the completion of a C-round equity financing of 670 million yuan, primarily for battery asset-related business investments and technology R&D [1][3] - The company was established in August 2020 with a registered capital of 800 million yuan, backed by investors including NIO and CATL, and operates under a Battery-as-a-Service (BaaS) model [1][3] - As of now, Weinan has surpassed 30 GWh in operational battery asset scale and serves over 400,000 users, with more than 160 patents filed, of which 59% are inventions [1][3] Financing History - Weinan has undergone multiple financing rounds since its inception, including an undisclosed A-round in August 2020, a B-round of 531 million yuan in August 2021, and a B+ round in July 2022 with undisclosed amounts [3] - NIO is the largest shareholder of Weinan with a 19.4% stake, followed by Angel Prosperity Investment HK I Limited at 12.75% and CATL at 10.68% [3] - In April, there were reports of CATL negotiating to acquire a controlling stake in Weinan, but CATL stated there was no further information available [3] Strategic Partnerships - In July, Weinan and CATL signed a strategic cooperation agreement to leverage their strengths in battery asset management and technology innovation for deeper collaboration across capital, technology, and business models [3]