Its battery and PV business accounted for 9% of the group’s turnover in the six months to 30 June, 2014, down from 10% in the first half of 2013.

The Shenzhen-based company — which produces lithium ferrous phosphate (LFP) and solar batteries, the latter of which are used by PV developers for storage purposes — secured orders for 17MWh of energy-storage products in the US market in the first half.