WEIFANG, China, June 3, 2026 /PRNewswire/ -- 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.

"Our proposed move into solid-state lithium battery technologies reflects how we are thinking about the future of our business and follows our previously announced initiatives," said Mr. Jie Liu, Chief Executive Officer of Hongli Group. "We believe this space offers strong growth potential, and by evaluating opportunities in solid-state lithium battery technology, we are positioning Hongli Group to participate in the global energy transition and deliver long-term shareholder value as adoption increases."

About Hongli Group Inc.

Hongli Group Inc. is a Cayman Islands holding company, and through a series of contractual arrangements, consolidates the financial results of Shandong Hongli Special Section Tube Co., Ltd. and its subsidiaries (collectively, "Hongli Operating Group"). Hongli Operating Group is a cold roll formed steel profile manufacturer with operating subsidiaries in China. The Hongli Operating Group designs, customizes and manufactures cold roll formed steel profiles for machineries and equipment in a variety of sectors, including but not limited to mining and excavation, construction, agriculture and transportation. The Hongli Operating Group, with over 25 years of operating history, has developed customers in more than 30 major cities in China as well as a global network including South Korea, Japan, and U.S.. Hongli Operating Group currently has 11 cold roll forming production lines and produces a variety of distinct profile products in a broad range of materials, sizes and shapes.

Forward-Looking Statements

Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "would," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," "continue" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, import and export restrictions, fluctuations in general economic and business conditions, the Company's ability to comply with Nasdaq continued listing standards and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Hongli Group Inc.

Mr. Jie Liu

Email: zjf@hongli-profile.com

Mobile: +86 0536-2180886

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SOURCE Hongli Group Inc.

Hongli Group Inc. Updates Its Business Strategy, Focusing on Solid-State Lithium Batteries