Going Global Daily | Ruiyuan Electric Lands First Overseas EPC Contract; Sino Biopharmaceutical Licenses Drug to AstraZeneca in $1.9B Deal

BEIJING — Chinese companies are accelerating their global push across energy, biotech, and advanced manufacturing, with a wave of overseas deals, certifications, and partnerships signaling a new chapter in the country's outbound expansion.

In what may be the most headline-grabbing move, Sino Biopharmaceutical Co., Ltd. announced it has licensed exclusive overseas rights to its innovative chronic obstructive pulmonary disease drug TQC3721 to AstraZeneca. The deal, worth up to USD 1.9 billion in upfront payments plus R&D, registration, and sales milestones, marks the company's second major overseas licensing transaction this year.

The biotech licensing comes as European heatwaves drive surging demand for Chinese-made air conditioning. TCL reported second-quarter air conditioning sales in Europe rose more than 27% year-over-year, with the U.K. and France markets jumping over 300%. Gree saw first-half France sales climb more than 50%, with multiple portable models selling out across the continent. Jiangmen Baoshi Refrigeration said overseas sales reached RMB 568 million through the end of June 2026, up 14.2% from a year earlier.

In the energy storage sector, Tianjin Ruiyuan Electric signed a 110 MWh large-scale grid-side energy storage EPC contract with Vietnam Northern Power Corporation (EVNNPC), one of EVNNPC's first energy storage demonstration projects and the first time the Vietnam Electricity Group selected an international company outside Vietnam for such work. Ruiyuan will deliver an integrated solution spanning design, system integration, equipment supply, construction, commissioning, and operations and maintenance — its first landed overseas EPC project.

Hoymiles deepened its Southeast Asian footprint with a strategic partnership with Malaysian power distribution equipment firm TAMCO, focusing on localization, system integration, testing, and long-term service for large-scale energy storage systems in Malaysia.

In mining and resources, China Ruilin signed a framework agreement with Olympic Dam Limited for design and supply work on the Olympic Dam smelter and refinery expansion in South Australia. The contract is valued at approximately AUD 240 million (roughly RMB 1.123 billion), with phased implementation and equipment supply contingent on a final investment decision.

Sinopec's Ningbo Engineering Company secured a front-end and detailed design contract with Uzbekistan's United Bioenergy Company for the country's first full-chain sustainable aviation fuel project. The facility will cover biomass feedstock processing, green hydrogen production, SAF, e-SAF, green diesel, and supporting solar and energy storage infrastructure.

Medical device makers also made international strides. Jenscare Scientific Co., Ltd. obtained EU MDR CE certification for its LuX-Valve Plus transcatheter tricuspid valve replacement system, a milestone in the company's internationalization strategy. Snibe Diagnostic added 69 products to its EU IVDR CE certification roster, including chemiluminescence and biochemical reagents, bringing its cumulative total to 220 chemiluminescence and 87 biochemical products with the certification.

Huazi Technology confirmed that its subsidiary's liquid lithium battery equipment has secured European orders, with customer validation work ongoing. The company has identified overseas markets as a core expansion priority.

In compliance and services, Baiwang signed on at Beijing's overseas base, expanding its global compliance network to 33 countries and regions, with plans to reach 58 by year-end. Lizhong Group has built a global recycled aluminum supply system anchored by production capacity in China, Thailand, and Mexico. Hailzhe's subsidiary Ji'andun secured five invention patents across South Africa, Italy, and Australia.

The broader trend is taking shape at the provincial level. Guangdong province is accelerating its new-energy supply chain expansion into ASEAN, with leading enterprises including BYD — whose Thailand and Indonesia vehicle factories and GAC Aion's Thailand plant are now operational — driving battery, charging, and component suppliers to follow in a coordinated cluster-based overseas push. The 2026 China (Guangdong)–ASEAN Trade Promotion and Supply Chain Cooperation Conference is scheduled for July 15–16.