State Grid Energy Storage Technology Company was established in Ningxia with a registered capital of 4.3 billion yuan.

According to the Qichacha APP, recently, Ningxia Zhongwei Baohe Energy Storage Technology Co., Ltd. was established, with Tan Zhengwu as the legal representative and a registered capital of 430 million yuan. Its business scope includes power generation, power transmission, power supply, electrical installation services, battery sales, and charger sales. Equity penetration displayed on Qichacha shows that the company is jointly owned by Nanwang Energy Storage's wholly-owned subsidiary Southern Power Grid Peak Frequency Energy Storage Technology Co., Ltd., and Beijing Taihe Xineng Technology Development Co., Ltd.