Hongli Group Inc. (NASDAQ:HLP) (the "Company" or "Hongli Group"), a cold roll formed steel profile manufacturer, today announced a strategic update following its previously announced establishment of its New Energy Solid-State Battery Division and the engagement of Dr. Philip A. Medina as an independent technical advisor. Building on these announcements, the Company has decided to focus its energy storage initiatives on solid-state lithium battery technologies.

According to Solid-State Lithium Batteries: Advances, Challenges, and Future Perspectives (Batteries, 2025), solid-state lithium-ion batteries are becoming increasingly recognized as a next-generation energy storage solution that utilizes a solid electrolyte rather than a traditional liquid electrolyte. This emerging technology may offer potential advantages in safety, energy density, and cycle life, and may be used in applications such as electric vehicles and wearable electronic devices. Ongoing advancements in this area are expected to support broader adoption across these industries.

Unlike traditional lithium-ion batteries, which rely on flammable liquid electrolytes, solid-state batteries are designed to offer greater stability and reliability over time. As demand continues to grow for more efficient energy storage, driven by electrification, renewable energy deployment, and evolving consumer technologies, the Company believes that next-generation battery solutions are gradually becoming important. Hongli Group's focus on this area reflects both these broader industry trends and the Company's existing strengths. With more than 25 years of experience in complex steel profile manufacturing, the Company plans to leverage its existing manufacturing expertise, product customization capabilities and industry know-how to evaluate opportunities within the lithium battery and energy storage industry.