Wedoany.com Report on Mar 13th, From turning losses into profits to going global, China's Lanpec Technologies has unveiled a new chapter for China's concentrated solar power (CSP) industry.
The new year of 2026 began with a blockbuster announcement in the new energy sector.
A state-owned equipment enterprise from Gansu not only achieved a remarkable turnaround in performance through core technology, successfully turning losses into profits in 2025, but also made a breakthrough in a critical bottleneck area of CSP molten salt energy storage, securing a landmark overseas CSP project order. This exports China's 100% independently developed core technology directly to the frontlines of the global new energy market.
This company is Gansu Lanpec Petrochemical High-Tech Equipment Co., Ltd. (Lanpec Technologies), a subsidiary of the China National Machinery Industry Corporation (Sinomach).
In the recently disclosed investor relations exchange information, the report card presented by Lanpec Technologies has not only shaken the capital markets but also completely unveiled a new prologue for China's CSP industry, transitioning from technological follower to global leader.
01
Why is CSP + Molten Salt Energy Storage the "Must-Win Territory" of New Energy?
Before discussing the technological breakthrough, let's first thoroughly explain a core question to all readers: Why is CSP + molten salt energy storage, hailed as the "ultimate piece of the puzzle" for new energy, so important?
The biggest pain point in the current global new energy industry has never been "inability to generate power," but rather "inability to store power and manage peak loads." Wind and solar power are weather-dependent, with generation capacity fluctuating wildly based on weather and day/night cycles. Direct grid integration poses significant safety pressures on the power grid, which is the core root of the difficulty in absorbing new energy.
Lithium battery energy storage, while mainstream, is primarily concentrated in short-term peak shaving scenarios of 4 hours or less. Faced with demands for long-duration energy storage and cross-day/night power supply, it suffers not only from high costs but also from shortcomings such as cycle life, safety, and environmental concerns.
CSP + molten salt energy storage is one of the optimal solutions to this pain point. Simply put, CSP uses concentrating solar thermal devices to convert solar energy into heat, which is then stored on a large scale using a special molten salt medium. Even at night or on cloudy/rainy days, heat can be released on demand to generate stable power, truly achieving 24/7, dispatchable baseload power output.
It is both a power station and a "super long-duration power bank," serving as the core "ballast stone" for building a new type of power system. According to IEA predictions, global CSP installed capacity will exceed 100GW by 2030, with a compound annual growth rate exceeding 20%. China, as the country with the richest CSP resources and the most complete new energy industry chain, had long been stuck behind the technological barriers of core equipment.
02
Conquering the Bottleneck Problem! What Makes Lanpec's Technological Breakthrough So Impressive?
The core of the CSP molten salt energy storage system, and the previously long-monopolized bottleneck by foreign companies, is the large-capacity high-temperature molten salt storage tank.
This equipment, known as the "heart" of a CSP plant, must withstand temperatures above 500°C year-round and endure repeated thermal cycles of heating and cooling. If weld cracks, tank deformation, or molten salt leakage occur, the entire CSP project would be paralyzed. Previously, this core technology was firmly held by European and American companies. Most Chinese projects relied on imports, leading not only to high costs but also complete dependence on others for supply chain security.
Lanpec Technologies' core breakthrough lies precisely in conquering this tough nut. In investor exchanges, the company clearly revealed that it has completely overcome the core technical challenges of high-temperature resistance and fatigue resistance for large-volume molten salt storage tanks, forming 100% independent intellectual property and completely breaking the technological monopoly of foreign companies.
More crucially, this technology is not just a "paper achievement" from the lab but has already achieved commercial implementation, even securing a landmark overseas order—the ongoing 100MW CSP energy storage project in Morocco.
Morocco is the region with the richest CSP resources in North Africa and a core emerging market for global CSP. This 100MW project is a landmark new energy project locally. Securing this order signifies that China's CSP molten salt energy storage technology has passed the rigorous test of the global market, with performance, reliability, and cost control reaching internationally leading levels.
The technological breakthrough has brought tangible performance reversal. Announcement data shows that Lanpec Technologies successfully achieved a performance turnaround in 2025, with an estimated annual net profit attributable to the parent company's owners of approximately 47.7965 million yuan, successfully turning losses into profits. In the first half of 2025, the company's overall gross profit margin increased significantly by 7.44 percentage points year-on-year, reaching 26.82%.
Behind this report card is a thorough optimization of the company's main business structure: the proportion of high-value-added new energy core equipment continues to rise. The company has broken free from the low-price competition of low-end manufacturing and gained industrial premium through core technology. This is the most valuable "performance reversal."
03
Beyond CSP! Full-Sector Layout, Building Global Hard Power in New Energy Equipment
Many only see Lanpec's breakthrough in CSP energy storage, but fail to understand that the company is playing a strategic game covering the entire new energy chain with a global layout.
1. CSP + Hydrogen Dual Drive, Locking in the Ultimate New Energy Track
In its new energy layout, Lanpec clearly positions CSP energy storage and hydrogen energy as its two core directions. As a Sinomach subsidiary, the company is positioned by the group as the "source of original technology for hydrogen energy storage and transportation equipment." The weight of this positioning is self-evident—it means the tilt of R&D and industrial resources at the central SOE level, directly targeting the bottleneck segments of the hydrogen energy industry chain.
Hydrogen energy is globally recognized as the ultimate form of future clean energy, and the storage and transportation segment is precisely the core bottleneck hindering its commercial application. Lanpec's decades of technological accumulation in high-end pressure vessels and special equipment are highly aligned with R&D for hydrogen storage and transportation equipment. Combined with the industrial synergy of CSP energy storage enabling low-cost green hydrogen production, the company has formed a full-chain layout of "CSP + Energy Storage + Hydrogen," completing the closed loop from new energy production and storage to application.
2. Breakthrough in Deep-Sea Energy Equipment, Bridging the Two-Way Barrier Between Traditional and New Energy
Beyond the new energy track, Lanpec's technological prowess in deep-sea energy equipment is equally noteworthy. In June 2025, the company's independently designed and manufactured export seawater cooler was successfully applied in a deep-sea oil and gas development project, overcoming over twenty technical challenges including high-pressure sealing and dissimilar metal welding. Currently, the company is advancing R&D for a 3000-meter water depth high-efficiency oil-gas-water separation system, fully deploying in the "deep-sea economy" sector.
The core logic of this layout is to form a dual-drive pattern of "high-end traditional energy equipment + core new energy equipment." The traditional energy equipment business provides stable cash flow and technological accumulation, while the new energy equipment business opens the ceiling for future growth. Walking on both legs gives the company极强的抗风险能力和持续研发能力 (strong risk resistance and continuous R&D capability).
3. Global Layout Implementation, Locking in the Overseas Trillion-Dollar Market in Advance
More strategically, Lanpec's vision has never been limited to the Chinese market. Currently, the company has established branches in Saudi Arabia, Dubai, Morocco, and other locations, focusing on regions such as North Africa, Latin America, and Southeast Asia. These are precisely the emerging markets with the richest CSP resources and the most urgent need for new energy transition globally, and the core battleground for global CSP installed capacity growth in the next decade.
Establishing localized branches in advance is not just to secure one or two orders, but to deeply cultivate overseas markets, building localized sales, service, and delivery systems to batch-export China's independently developed CSP energy storage technology and equipment globally. This signifies that China's CSP industry is replicating the overseas success story of photovoltaics and wind power, upgrading from product export to technology and standard export.
04
From Single-Product Supplier to Solution Service Provider: A Transformation Model for Chinese Equipment Enterprises
In investor exchanges, Lanpec clarified its overall strategic positioning: "One main line, two major markets, three types of business"—namely, led by technological innovation, focusing on the two major markets of petrochemical equipment and new energy equipment, and revolving around the three business segments of products, engineering, and services, committed to transforming from a single-product supplier to a comprehensive solution provider.
This statement precisely pinpoints the core code for the rise of China's high-end equipment enterprises.
Over the past few decades, many Chinese equipment companies mostly remained in the low-end segment of "selling products, earning processing fees," with low gross margins and weak bargaining power, only able to compete fiercely in red oceans. In contrast, top global high-end equipment companies invariably follow the path of comprehensive solutions—not just selling products, but selling the entire chain of design, engineering, operation, and maintenance services, earning technology and service premiums, with higher barriers and stronger customer stickiness.
Lanpec's transformation is precisely the Chinese practice of this path. In the field of CSP energy storage, it can not only provide core molten salt storage tanks but also offer customers full-chain solutions for the entire CSP molten salt energy storage system, covering design, manufacturing, installation, and operation and maintenance throughout the lifecycle. This capability is the core confidence behind its ability to secure landmark overseas orders and a core marker of Chinese equipment enterprises upgrading from "Made in China" to "Intelligent Manufacturing in China."
Moreover, the central SOE background of Sinomach provides strong support for this transformation. Powerful R&D resources, financial strength, and global channel networks enable Lanpec to continuously invest in core technology breakthroughs, stand firm in global competition, and truly play the role of the "national team" in tackling core new energy technologies.
05
The Industry Turning Point Has Arrived, the Golden Age of China's CSP is Here
Lanpec's technological breakthrough and overseas order are by no means isolated cases but a microcosm of the comprehensive rise of China's CSP industry.
Standing at the point of 2026, we can clearly see that China's CSP industry has reached a historic turning point:
Technological Level: Core equipment such as molten salt storage tanks, concentrating solar thermal systems, and steam generators have achieved 100% localization, with technological levels reaching international leadership, completely breaking free from overseas bottlenecks.
Cost Level: With core equipment localization and industry chain maturity, the levelized cost of electricity (LCOE) for CSP continues to decline, gradually approaching coal-fired power levels, with conditions for commercial implementation fully mature.
Policy Level: China's dual-carbon goals continue to advance, the construction of a new power system drives explosive demand for long-duration energy storage, many regions have issued CSP support policies, requirements for CSP energy storage paired with new energy projects are continuously strengthened, and the Chinese market space is rapidly opening up.
Global Market Level: Regions like the Middle East, North Africa, and Latin America have urgent needs for new energy transition. Markets previously monopolized by European and American companies are being rapidly captured by Chinese enterprises with higher cost-performance and more mature technology, completely opening up global growth space.
Over the past decade, China's photovoltaic and wind power industries transitioned from followers to leaders, capturing over 80% of the global market share, creating a Chinese miracle in the new energy industry.
Now, this miracle is being replayed on the CSP track.
From being bottlenecked to 100% independent IP; from turning losses into profits in China to securing landmark overseas orders; from a single-product supplier to a global comprehensive solution service provider. Lanpec's step forward is not just the growth of one company but a historic leap for China's new energy equipment industry from follower to leader.
In the global wave of dual-carbon, China's new energy story has never been limited to photovoltaics and wind power. CSP + long-duration energy storage, this ultimate piece of the new energy puzzle, is being completely filled in by Chinese enterprises.
In the future, when CSP plants around the world are equipped with core equipment independently developed by China, we will understand: true industrial discourse power never comes from low-price competition, but from solid core technology.
The golden age of China's CSP has just begun.
