Corporate Honors| XY Power Awarded the Title of National High-Tech Enterprise

Today, leveraging exceptional technical prowess and reliable product strength, XY Power is delighted to have been awarded the "Top Ten Module Brands in China's Charging Facilities Industry for 2024" at the 3rd Electric Ecosystem Cup.

Building on its technical R&D experience in core power conversion equipment, XY Power has grown from its establishment in July 2022 to a small-to-medium-sized company with over 200 employees. It has attracted significant investment from prominent players in the new energy industry chain, completing strategic financing in 2022 and Series A+ financing in 2023. The total financing amount has reached nearly 200 million RMB, with a valuation of 840 million RMB. Since its inception, XY Power has focused on the development of charging modules and related core products for charging and battery swapping. It has now established a comprehensive product lifecycle chain integrating R&D, production, sales, and service.

A solid foundation of professional expertise is only the first step in XY Power’s journey. After defining its R&D direction, the company has continuously increased its investment in research and development. It is reported that from 2022 to 2023, XY Power’s cumulative R&D investment exceeded 30 million RMB, and the R&D investment for 2024 is projected to surpass 40 million RMB. Among this, the investment in R&D equipment alone has exceeded 20 million RMB. The R&D investment accounts for over 16% of the company's total revenue, leading the industry average.

XY Power has established a comprehensive R&D experimental testing platform, including a component analysis laboratory, high and low-temperature laboratory, safety regulation laboratory, salt spray reliability laboratory, harsh reliability laboratory, and EMC laboratory. In terms of design platform construction, the company possesses a full range of simulation and software testing platforms, encompassing circuit design simulation, thermal design simulation, software design simulation, and full-scenario testing and verification. Additionally, XY Power has filed over 50 intellectual property applications, including 14 invention patent applications.

With a professional technical team and a dedicated approach, XY Power has embarked on a path of specialized development and has begun to make a mark in the industry. Over the past two years, the company's market share has significantly increased. By the end of 2023, its share in the industry's charging module shipments rapidly rose to over 15%, with an annual revenue compound growth rate exceeding 305%. XY Power has now established stable product and technical cooperation with more than 80 leading domestic charging pile manufacturers, operators, and automotive companies.

XY Power's competitive advantage lies not only in its technical prowess but also in its precise insight into downstream applications, enabling it to address customer pain points effectively. In the application scenarios of charging modules, regions with high temperatures, high humidity, and sudden temperature variations are common, making product stability and environmental adaptability key concerns for partners and end-users alike.

To ensure the reliability of module products under various environmental operating conditions, XY Power’s testing engineers conduct over 10 temperature-related tests starting from the R&D phase. These tests include:

● Low-temperature operation (-40°C),

● High-temperature and high-humidity operation (25°C~40°C & 95% RH),

● High-temperature and high-humidity storage (55°C & 95% RH),

● Alternating damp heat (25°C~40°C & 95% RH) cyclic storage,

● High-temperature acceleration,

● High-temperature operational limits,

● High-temperature full-load 48-hour aging,

● High and low-temperature cyclic operation testing,

● Temperature rise testing, and more.

Notably, XY Power’s core R&D team was the first in the industry to propose the potting production process, laying the foundation for the current draft of the direct-ventilation product protection production process. This innovation underscores the company's commitment to advancing product reliability and performance in challenging environments.

Additionally, each module undergoes a 48-hour gradient aging process in a sealed aging chamber at 50°C before leaving the factory, ensuring maximum product reliability. In terms of quality management, XY Power adopts a three-dimensional approach integrating R&D, supply chain, and market perspectives. This comprehensive lifecycle quality management ensures that the market-weighted product failure rate remains below 3000 ppm and the unpacking defect rate below 500 ppm.
Beyond product stability, cost is a critical factor in downstream application scenarios. The new energy vehicle industry is characterized by high urban density and concentrated daily charging periods. As charging station locations become more centralized and urban land and operational costs rise, the pressure on station operations intensifies.

Consequently, better system efficiency, higher equipment utilization, lower construction costs, and reduced operational and maintenance expenses have become key considerations for operators when selecting system equipment. Improving system efficiency and maximizing module energy efficiency are core challenges that XY Power is committed to addressing.

Leveraging its deep understanding of the industry and years of technical expertise in charging module equipment, XY Power has launched a full-matrix intelligent scheduling product and intelligent operation and maintenance features for its modules. These innovations enable simpler development processes, better terminal scheduling, enhanced operational capabilities, and improved product and system reliability, making information and data more valuable.
In the future, XY Power will continue to uphold its niche, focusing on the design and development of core power conversion products and the creation of higher-quality functionalities. By doing so, the company aims to better empower its downstream customers and collaborate with industry partners to drive the green development of the industry with both speed and high quality.