Key Points
- EVE Energy and Smoore International signed a cell procurement framework agreement effective through 2028.
- The agreement does not specify transaction amounts; actual values will depend on follow-up orders and audited figures.
- Due to board cross-appointments, the deal constitutes a connected transaction but has not yet formed substantive amounts.
- From 2022 to 2024, the two parties recorded battery cell transactions of RMB 536.12 million, RMB 548.64 million, and RMB 497.56 million, respectively.
- Pricing will follow existing contracts and prevailing market standards.
2Firsts, November 21, 2025 — According to a company announcement, EVE Energy Co., Ltd. (Stock Code: 300014) has signed a Procurement Framework Agreement with Smoore International Holdings Limited. Under the agreement, Smoore Group will continue to purchase battery cells and related products from EVE Energy and its subsidiaries from 2026 to 2028.
The announcement states that this is a framework agreement without predetermined transaction amounts. Actual figures will be based on future orders signed by both parties and confirmed by auditors. As EVE Energy’s director and senior executive, Jiang Min, also serves as a non-executive director at Smoore International, the transaction qualifies as a connected transaction, though no substantive amount has been formed at this stage.
The announcement also notes that the two parties have engaged in similar cooperation over the past three years. In 2022, 2023, and 2024, EVE Energy and its subsidiaries recorded sales of lithium-ion batteries to Smoore Group of RMB 536.12 million, RMB 548.64 million, and RMB 497.56 million, respectively, representing 1.48%, 1.12% and 1.02% of comparable annual transaction amounts.
Smoore, in a separate announcement released on the same day, outlined its expected upper-limit demand for battery cells for 2026–2028. EVE Energy stated it will estimate future annual transaction volumes based on historical sales, Smoore’s product orders, and the two parties’ strategic cooperation, and will complete required review and disclosure procedures accordingly.
The agreement takes effect upon completion of internal approvals by both parties and will remain valid until December 31, 2028. Pricing will follow existing or ongoing contracts and prevailing market standards under normal commercial terms.
