Momentum is building in the energy storage market as EVE Energy inks a fresh procurement deal with Smoore International. The agreement, signed on November 20, 2025, replaces their previous arrangement which expired at year-end 2025. It’s a three-year commitment starting January 2026. No specific amounts were locked in – they’ll figure that out as they go. Typical business stuff.
Look at their track record. Battery sales to Smoore hit RMB 536.12 million in 2022, climbed to RMB 548.64 million in 2023, then slipped to RMB 497.56 million in 2024. Not exactly earth-shattering numbers for EVE – these deals represented just 1.48%, 1.12%, and 1.02% of their comparable revenue. Small potatoes, but consistent.
EVE’s Smoore battery sales: solid but modest – just over 1% of revenue and trending downward since 2023.
There’s a connection here beyond business. Ms. Jiang Min has her fingers in both pies – director at EVE Energy and non-executive director at Smoore. Plus, EVE holds a 30.73% stake in Smoore through its subsidiary. This connected transaction status means the agreement falls under special regulatory classifications. Cozy arrangement, right?
What’s actually changing hands? Battery cells for vaping devices. EVE makes them, Smoore needs them. Simple. They’re critical components for Smoore’s fancy atomisation technology. Without batteries, those vape clouds don’t happen.
EVE Energy isn’t just some battery shop, though. They’ve been flexing lately. They’ve commercialized large-cell technology and pioneered 628Ah ultra-high capacity storage batteries. They’ve deployed 5MWh DC energy storage systems in major 400MWh projects. They’re shipping globally now.
Their ambitions stretch beyond vape batteries. In September 2025, they inked a 500MWh deal with Polish CommVOLT. They’re pushing energy storage solutions across Europe – utility, commercial, telecom, residential. The whole spectrum.
Will this Smoore deal change EVE’s 2025 performance? Probably not much. The new agreement is set to remain valid until 2028, providing long-term stability to their business relationship. But it’s another piece in their expansion puzzle. Battery by battery, deal by deal, EVE is positioning itself for the energy shift. Vaping today, powering Europe tomorrow.
References
- https://www.energytrend.com/news/20251121-50442.html
- https://www.2firsts.com/news/smoore-and-eve-energy-sign-procurement-framework-agreement-covering-20262028-cell-supply
- https://www.mysteel.net/news/5104840-flash-eve-energy-signs-a-procurement-framework-agreement-with-smoore-international
- https://news.futunn.com/en/flash/19656616/eve-energy-signs-the-procurement-framework-agreement-with-smoore-international
- https://www.tradingview.com/news/reuters.com
- https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1120/2025112000940.pdf
- https://www.evebattery.com/en/news-1875
- https://www.tipranks.com/news/company-announcements/smoore-international-renews-procurement-agreement-with-eve-energy
- https://news.metal.com/newscontent/103380350/[EVE:-Plans-to-Renew-and-Reduce-Its-Stake-in-SMOORE-International-by-35]
- https://www.marketscreener.com/news/eve-energy-signs-framework-supply-agreement-with-smoore-international-holdings-ce7d5ed9d080f32c
