Songli Group Acquires MHB Power: Creating a New Win-Win Situation

2024-11-08

On June 1, 2024, Xiamen Songli Group Co., Ltd. (hereinafter referred to as "Songli Group") officially announced the successful completion of its acquisition of Fujian MHB Power Co., Ltd. (hereinafter referred to as "MHB Power"). This strategic merger and acquisition (M&A) aims to maximize the strengths of both companies in their respective fields, promote synergistic development, accelerate global market expansion, and drive high-quality business growth.

Founded in 1992, MHB Power is located in the Anxi Economic and Technological Development Zone of Quanzhou, Fujian Province. The company covers 360 acres, with a total building area of over 300,000 square meters and nearly 2,000 employees. As a leading manufacturer in the domestic lead-acid battery Plate industry, MHB Power is a high-tech enterprise that integrates R&D, production, sales, and services for new energy products. Its product range includesBattery Plates, starter batteries (automotive and motorcycle batteries), backup batteries (general, high-power, long-life, etc.), energy storage batteries, and power batteries. These products are widely used in sectors such as transportation, power reserves, uninterruptible power supply (UPS) systems, and renewable energy storage.

This acquisition will strengthen the companies' competitiveness in the new energy battery market. Leveraging Songli Group's global operational experience and MHB Power's technological expertise, the two companies aim to expand their international business presence and enhance their brand influence. MHB Power will continue to invest in R&D, optimize production processes, and improve service systems. This will ensure that the company remains at the forefront of the industry while contributing to the realization of a low-carbon society. "Only by embracing green development and fostering technological innovation can we stay ahead of the competition in an increasingly crowded market," emphasized a company representative. Going forward, both companies will deepen their resource sharing and technological collaboration, jointly developing globally competitive products and services to offer superior solutions to customers worldwide. MHB-Factory-1

MHB Power plans to implement several strategic measures to further enhance its production capacity and market competitiveness. The company will streamline production resources and processes, incorporating fully automated robotic production lines to significantly boost production efficiency and product quality.

Additionally, MHB Power will establish a national-level R&D center, consolidating the technological advantages of both companies to improve the technical sophistication and innovation of its products. By capitalizing on MHB Power’s established channels in the energy storage battery market, the company will further expand both domestic and international market share, thus increasing its market influence. Furthermore, MHB Power will leverage the strengths of the TCS and MHB brands, executing a differentiated brand development strategy to better empower customers. As a leading enterprise with export qualifications for lead-acid battery plates, MHB Power is committed to fulfilling customer needs for both lead-acid battery components and finished products, fostering mutual cooperation.

The completion of this acquisition marks a significant milestone in MHB Power's transformation and international expansion strategy. Songli Group and MHB Power will use this merger as an opportunity to tackle the vast opportunities within the global new energy market, together pioneering a new era of sustainable development.