HK Stock Market Move | REPT BATTERO (00666) rose more than 17% in early trading, with the company participating in expanding and cost reduction of energy storage systems. The company announced last month that it will invest in a battery factory in Indonesia.

REPT BATTERO (00666) rose more than 17% in early trading, rising 12.67% as of press time to HK$13.16, with a turnover of HK$315.758 million. On the news front, from January 22 to 24, Guangzhou Great Power Energy and Technology, REPT BATTERO, and Chu Neng New Energy officially announced the launch of 688Ah energy storage battery cells jointly developed with CRRC Zhuzhou. This specification of energy storage battery cells can be integrated into a 6.9MWh energy storage system, which is expected to further promote the expansion and cost reduction of energy storage systems. In addition, REPT BATTERO announced last month that the board of directors has decided to invest in and build a battery factory in Indonesia. REPT BATTERO stated that after the completion of the Indonesian battery factory, it plans to engage in the research, manufacturing, and sales of lithium-ion batteries, battery components, modules, and battery packs in accordance with local government policies. It is expected that the Indonesian battery factory will produce 8GWh of power and energy batteries and systems, as well as battery components, after the first phase of production.