TIANNENG POWER (00819) released the annual performance bulletin of Tianneng Battery Group Co., Ltd (688819.SH), with a net profit attributable to the parent company of 1.565 billion yuan, a year-on-year decrease of 32.09%.

Tianneng Power (00819) releases the performance report for Tianneng Battery Group Co., Ltd. (688819.SH) for the year 2024, with a total operating revenue of 45.184 billion yuan, a decrease of 5.37% year-on-year; a net profit attributable to the parent of 1.565 billion yuan, a decrease of 32.09% year-on-year; and a basic earnings per share of 1.61 yuan. The announcement stated that during the reporting period, the sales volume of lead-acid batteries declined due to changes in industry policies, and the gross profit margin was lower than the same period last year due to a substantial increase in prices of main product raw materials, resulting in a decrease in net profit attributable to the parent company's shareholders compared to the same period last year.