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Mustang Battery

Zhejiang Mustang Battery Co., Ltd. is a Chinese private enterprise specializing in the R&D, production and sale of dry batteries, listed on the Shanghai Stock Exchange under ticker 605378.

Last updated September 16, 2026

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Overview

Zhejiang Mustang Battery Co., Ltd. is a private enterprise founded in 1996 and headquartered in Zhenhai, Ningbo, Zhejiang. It specializes in the research, development, production and sale of various specifications of dry batteries, and is a vice-chairman unit of the China Battery Industry Association and a high-tech enterprise. Its main products are alkaline batteries and carbon-zinc batteries, marketed under more than ten brands, with '野马' in Chinese and 'MUSTANG' and 'RaymaX' in English as the primary brands. The company operates more than 20 zinc-manganese and alkaline-manganese battery production lines with annual capacity exceeding 4 billion units, and its products are exported to the European Union, North America, Southeast Asia and other regions. It is listed on the main board of the Shanghai Stock Exchange under stock code 605378.

History

The company was founded in 1996. In 2000, a Fuming plant area with a total investment of 50 million yuan was completed and the company relocated there, completing its first technical transformation. In 2001, the company's self-developed CR lithium-manganese battery was rated as a 'Ningbo New Product', and in December the 'Ningbo Jiangdong District Primary Battery Engineering Technology Center' was established. In 2002, it was renamed 'Zhejiang Mustang Battery Co., Ltd.'. In 2003, it passed ISO9001 quality management system certification, and its self-developed 'mercury-free, cadmium-free, lead-free zinc-manganese battery' passed new product appraisal. In 2005, it passed ISO14001 environmental management system certification, and its Luotuo plant area was completed and the company relocated there, completing its second technical transformation. In 2006, the company implemented a full labor contract system and paid social insurance for all employees; LR20, LR14 and LR61 alkaline-manganese battery production lines successfully started trial production. In 2008, products fully met the EU ROHS directive standards. In 2009, it was rated as a high-tech enterprise. In 2010, the first self-made high-speed automated production line was successfully developed and put into use, and a provincial-level high-tech enterprise research and development center was established. In 2012, 2015 and 2018, it passed high-tech enterprise re-evaluation. In 2017, the company was renamed 'Zhejiang Mustang Battery Co., Ltd.'. In 2019, it passed the evaluation of the Ningbo Enterprise Research Institute. In 2021, it was listed on the main board of the Shanghai Stock Exchange. In 2025, the Phase II factory building was completed. In 2026, the Vietnam production base was completed.

Products and positioning

A domestic important dry battery manufacturer and exporter, committed to providing innovative and sustainable green new energy.

  • Alkaline batteries

  • Carbon-zinc batteries

  • Zinc-manganese batteries

  • Alkaline-manganese batteries

  • CR lithium-manganese batteries

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