In 1999, 31-year-old Zeng Yuqun left his state-owned enterprise position to co-found ATL (Amperex Technology Limited) with Liang Shaokang and Chen Tanghua, focusing on the production of consumer electronics batteries. A year later, Dr. Qi Lu, who had studied and worked abroad for many years, returned to China, became a professor at Peking University, and founded Mengguli (B&K Battery) with the support of CITIC Group.

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