Established in 2015, Yantai Chungway New Energy Technology Co., Ltd. takes energy storage safety solutions as its main business, focuses on the latest technology research, solution provision and implementation in the field of safety prevention and control of new energy vehicles, power batteries and energy storage power stations, and is committed to becoming "the world's leading brand in energy storage safety". Chungway is an engine of technological innovation, leading the formulation of 2 industry standards and participating in the formulation of 16 national and industry technical standards. With 1 authorized invention, 10 utility models and 16 software copyrights, the products have technical appraisal and inspection reports from many national authoritative institutions such as fire protection product technical appraisal certificates, forming a technical system with independent intellectual property rights. Chungway as a new energy source is now a national high-tech enterprise, a national high-tech small and medium-sized enterprise, and a software enterprise in Shandong Province. It has a "Taishan Industry Leading Talent" and a national one-thousand-person cooperative research and development project. It is a "specialization and innovation" small and medium-sized enterprise in Yantai, a "stealth champion" enterprise for small and medium-sized enterprises in Shandong Province, and a non-public unicorn cultivation enterprise in Yantai. It was the first "lithium ion battery thermal runaway model" and led the large-scale application of "battery box thermal runaway monitoring and automatic fire extinguishing" technology, creatively eliminating the potential safety hazard in the new energy industry. The "Li-ion battery thermal runaway model" created as a proprietary technology is a longitudinal, transverse and vertical three-dimensional and longitudinal multi-sensor data redundancy, i.e. multiple sets of sensor data in the same environment are fitted to simulate data characterization curves of different materials and different environments, thus reliably and accurately judging the fire stage; In the horizontal direction, continuous-time algorithm is carried out on the historical data of the sensor to eliminate noise interference, effectively solving the problems of missing report, false alarm and early warning lag of the traditional threshold method monitoring mode, and realizing early and reliable early warning. Different methods such as puncture and blunt needle overstock are used vertically to simulate the thermal runaway process of different types of power batteries with different capacities. Through three-dimensional fusion, a fire early warning system based on a lithium ion battery thermal runaway model is finally formed to realize early warning and intelligent control of power battery fires. The company's main products are "creating a special automatic fire extinguishing device system for battery box", which includes several special versions of power battery (passenger car, China-Pakistan, bus and general), energy storage battery and charger. The system mainly aims at the thermal runaway of power battery for new energy vehicles, carries out early warning and fire control, and is the most advanced product capable of carrying out early warning at present. The product has the product test report of the Ministry of Public Security, and is one of the suppliers approved by the Ministry of Communications (National Automobile Standardization Committee, Bus Sub-Technical Committee, and Customer Standards Committee). With the EMC test report of automotive electronic products from China Automotive Technology Research Center, it is the only product that has passed the test in China at present. The products of Chungway have reached the domestic leading level among similar fire extinguishing devices. Its CW1160 series of special automatic fire extinguishing devices for battery boxes have been applied to nearly 40 bus main engine plants such as YUTONG, ZHONGTONG BUS, BYD, GEELY , AnKai, ASIA STAR, Yinlong, etc. They have been standard or optional installed by nearly 30 battery plants such as CATL, CALB, PRIDEPOWER, Lishen, etc. The products have been safely used in more than 50,000 new energy vehicles. The products are also used in NARADA, Guoxuan, YiQi power, Sermatec, ANKAO and other energy storage stations. Chungway deeps into the current market and focus on future technological development, the development plan for the next five years has been drawn up: In 2018, a municipal research and development technology center has been established, and 1,000 experts from Fudan University and other universities have started research and development of thermal runaway warning models and applicable products for ternary series batteries, so as to further increase the market share to more than 35% and lay out the energy storage and electricity exchange market.