TITLE:
Research on the Dilemma and Countermeasures of R&D Value Transformation of Energy Storage Battery
AUTHORS:
Mingfan Jiang, Lie Luo
KEYWORDS:
Energy Storage Battery, R&D Investment, Value Transformation, Innovation Value Chain, Optimize the Path
JOURNAL NAME:
Open Journal of Business and Management,
Vol.14 No.6,
November
13,
2026
ABSTRACT: Driven by the “double carbon” goal, the scale of China’s energy storage battery industry has expanded rapidly. However, while R&D investment continues to grow at a high rate, the industry’s profit center has shifted downward, and the value conversion efficiency is generally low. Here, “value transformation efficiency” is defined as the extent to which the growth of R&D investment is converted into corresponding technical output, product premium and business performance, rather than the absolute level of gross margin. This paper takes three listed companies of EVE Energy Co., Ltd. (EVE), Nandu Power and Guangzhou Great Power Energy and Technology Co., Ltd. (Great Power) as the research objects. Based on the resource-based theory and innovation value chain theory, this paper constructs an analysis framework of “R&D investment-technical output-productization-commercialization-operating performance”. Combined with the annual report of the enterprise and the public data of the industry, this paper analyzes the difficulties and causes of value transformation in the three links of front-end topic selection, mid-end engineering and back-end value capture, and puts forward the optimization path of segmented implementation. Based on the case evidence of the three selected enterprises, the research shows that the transformation dilemma is a structural problem under the overcapacity and price downturn of the industry. It should be solved by optimizing the topic selection and transformation mechanism of enterprises, jointly building a pilot platform and unified standards in the industry, and the government’s incentive from input to transformation efficiency, so as to provide reference for the high-quality development of the energy storage battery industry. Since the three cases were selected because they exhibit the dilemma, the findings are illustrative and should not be generalized to establish the prevalence of the problem across the whole industry.