On September 2, Bicheng Energy announced the completion of a multi-hundred-million-yuan Series C1 financing round, led by China-Gulf Cooperation Fund with participation from Chengdu Jiaotou Capital and Yankuang Capital. This round brings together world-leading long-term capital and major state-owned industrial capital, reflecting strong endorsement of Bicheng Energy's innovative business model, professional asset operation capabilities, and long-term growth potential in the commercial and industrial distributed clean energy sector.
After four years of rapid development, Bicheng Energy has earned widespread recognition from leading domestic and international long-term capital and industrial investors through its innovative commercial approach, professional asset management expertise, and sustained growth trajectory. The company has received investment support from Singapore's Temasek, Aramco Ventures (the global corporate venture capital arm of Saudi Aramco), European investment group Eurazeo, as well as well-known domestic institutions and industrial partners including Zhongding Capital, Xinghang Capital, NIO Capital, and Sunwoda. This diverse shareholder structure not only validates market confidence in Bicheng Energy's long-term value proposition but also brings international strategic vision, global industrial resources, and advanced asset operation experience, further strengthening the company's foundation for rapid global expansion.
Li Wenxuan, Chairman and CEO of Bicheng Energy, stated: "We sincerely thank all shareholders for their strong recognition and steadfast support. Sovereign wealth fund-level investment, along with deep participation from industrial investors in Chengdu, Sichuan, is a powerful validation of our 'development-operations-securitization-reinvestment' business loop. With China's electricity market-oriented reforms advancing steadily, the asset value of commercial and industrial distributed clean energy is being redefined. Bicheng Energy will continue to drive efficiency gains through technology and operations, create long-term shareholder value, and contribute practical momentum to the energy transition."
The China-Gulf Cooperation Fund is a joint initiative between global alternative asset manager INVESTCORP and China Investment Corporation (CIC), China's sovereign wealth fund. Leading this investment in Bicheng Energy represents an important practice of the fund's long-term value investment philosophy in the new energy and infrastructure sectors, reflecting international long-term capital's positive assessment of China's commercial and industrial distributed clean energy market prospects. Additionally, Bicheng Energy is actively expanding into overseas new energy blue-ocean markets including the Gulf Cooperation Council (GCC) region, demonstrating its global business development capabilities — a key factor in the fund's recognition of the company's long-term growth potential. Going forward, the China-Gulf Cooperation Fund will leverage its global investment network and professional asset management expertise to help Bicheng Energy further enhance its international development capabilities and new energy asset operation proficiency.
INVESTCORP, as a world-leading alternative asset manager, operates across private equity, real assets, credit, and liquidity strategies, with investments spanning the GCC, Europe, the Americas, and major Asian markets, having established a comprehensive investment and asset management network covering major international capital markets. China Investment Corporation (CIC) is China's sovereign wealth fund, conducting diversified investments globally across various regions and asset classes, with continued focus on long-term value sectors including energy and infrastructure.
Chengdu Jiaotou Capital is a wholly-owned subsidiary of Chengdu Communications Investment Group, focusing on industrial investment and capital operations in areas such as smart transportation, new energy, and low-altitude economy. In July 2026, Bicheng Energy jointly established a 1 billion yuan new energy M&A fund with Chengdu Communications Investment Group and Chengdu Mengjiang Investment Group. Participation in this financing round extends and deepens the existing strategic cooperation between the parties, further consolidating collaboration foundations in new energy asset investment, operations management, and regional business coordination.
Yankuang Capital is the equity investment platform of Shandong Energy Group, responsible for industrial investment, capital operations, and asset management, conducting market-oriented investments aligned with the group's core business and transformation directions. The investment vehicle is a 10-billion-yuan new energy industry fund jointly launched by two Fortune Global 500 companies — Shandong Energy Group and Xiamen ITG Group — with Shanghai Yankuang Assets, a wholly-owned subsidiary of Yankuang Capital, serving as fund manager. Participation in this financing round creates a favorable foundation for exploring synergies between the parties in national industrial resources and clean energy operation capabilities.
Looking ahead, Bicheng Energy will continue to deepen its focus on the commercial and industrial distributed clean energy sector. On one front, the company will expand its energy asset portfolio and accelerate entry into large-scale energy storage assets. On another, it will increase investment in intelligent power trading platforms and AI technology capabilities, while continuing to strengthen its national electricity trading market presence. Additionally, the company will actively explore the "Energy for AI" business model, providing stable, green, and intelligent power solutions with 99.99% availability for high-energy-consumption, high-reliability use cases such as AI data centers. The company will maintain an open and collaborative approach, working with global industrial ecosystem partners to drive innovation and transformation across the energy industry.