On August 11, REPT BATTERO released its interim results announcement.
As of the end of the reporting period, REPT BATTERO’s total assets amounted to RMB 38,892.5 million, an increase of 0.9% compared to the end of last year; net assets were RMB 10,322.5 million, basically unchanged from the end of last year.
During the reporting period, revenue reached RMB 9,491.1 million, an increase of 24.9% year-on-year. The company sold a total of 32.4GWh of lithium battery products, a year-on-year increase of 100.2%. Among them,
• Energy storage battery shipments were 18.87GWh, up approximately 119.3% year-on-year, with revenue from energy storage battery product sales of RMB 5,082.6 million, up 58.4% year-on-year;
• Power battery shipments were 13.53GWh, up approximately 78.5% year-on-year, with revenue from power battery product sales of RMB 4,026.6 million, up 40.9% year-on-year.
Compared with last year’s gross profit of RMB 158.8 million, the company’s power and energy storage battery products recorded a gross profit of RMB 777.7 million during the reporting period, an increase of 389.7% year-on-year. The gross margin rose from 2.6% in the same period last year to 8.5% in the reporting period, mainly due to the scale effect resulting from increased orders for power and energy storage battery products.
Signed Over 20GWh of Energy Storage Cell Purchase Agreements
In the field of energy storage business, as an industry leader, the company, driven by large cell technology, leads the development trend of large-capacity systems and long-duration energy storage. The company’s “Wending® 392Ah” cell and its supporting “PowtrixTM 6.26MWh” energy storage system, through structural and chemical system innovations, achieve better balance in key performance dimensions, and have successfully passed multiple extreme safety tests, achieving a dual breakthrough in the upgrading of energy storage safety standards and global market expansion.
During the reporting period, the company deepened strategic cooperation with leading energy storage integrators such as Customer M and Customer N, while successfully entering overseas markets, integrating into the supply chain systems of mainstream international energy storage companies and regional leaders. In addition, the company successively signed energy storage cell purchase agreements exceeding 20GWh with enterprises such as Customer O, Customer P, and Customer Q, demonstrating strong competitiveness and broad market recognition in the energy storage market.
Launched 72/100/314/320/392/587Ah cells
Power and commercial & industrial energy storage cells: Based on the original 280Ah cell dimensions, 314/320Ah series cell products were developed. Using “Wending” technology, internal space utilization was increased by 4% and AC internal resistance reduced by over 10%. At the same time, through “double high” solid-liquid interface design, high-quality energy density of 180Wh/kg, high energy efficiency of 95% (0.5P), long life (over 10,000 cycles), and high safety cells were developed. The cells have been mass-delivered to major domestic and foreign customers.
To match the next-generation 6.25MWh+ system, higher-capacity 392Ah and 587Ah cell products were developed, further increasing gravimetric energy density to 190Wh/kg, energy efficiency above 96% (0.25P), and cycle life of over 10,000 cycles, meeting the requirement of over 20 years of calendar life. In addition, to meet the market demand for 1P products, the 314Ah-1P product was upgraded and developed, with 1P energy efficiency and cycle life indicators reaching industry-leading levels. To meet longer life usage scenarios such as “solar-storage life match,” the 314Ah ultra-long-life cell product was upgraded and developed, using pre-lithiation technology to increase cycle life to 12,000 cycles, achieve “zero degradation in three years,” and possess over 25 years of ultra-durable calendar life.
Residential energy storage cells: The 72/100Ah cells, based on electrode structure design and electrolyte optimization innovations, have an energy density exceeding 165Wh/kg and a cycle life of over 6,000 cycles, meeting the need for more than 10 years of product life. At the same time, the cells can support rapid charging at minus 10°C, providing more options for applications in extremely cold regions.
5MWh Energy Storage System Passes Large-scale Fire Test
Expected 300% YOY Increase of Shipment Volume
In the energy storage field: The market competitiveness of the 5MWh energy storage system product was further consolidated. Based on the latest versions of multiple core standards including CSA/ANSI C800:25, NFPA855, and UL9540A, under the verification of third-party authoritative institutions and overseas customers, the entire cabin successfully passed a large-scale fire test. In addition, the entire cabin passed a series of functional and performance tests under extreme environments such as low temperature of -30°C and high temperature of 55°C, demonstrating excellent environmental adaptability. The expected shipment volume of the 5MWh energy storage system this year will reach three times that of last year. This growth trend not only reflects its widespread application worldwide but will also continue to deepen customer trust and enhance brand influence. Facing future applications of large-capacity cells, the company will adopt the 392Ah solution to achieve a 6.26MWh system. Under the same 20-foot standard container size, volumetric energy density will be increased by 25%, and combined with new active balancing technology, the economic benefits, performance, and safety performance of the system will all be significantly improved.
Launched 20-foot 6MWh+ energy storage product
“Wending” technology: Facing the upcoming next era of commercial & industrial cells and energy storage systems, through the use of “Wending” technology, the company plans to develop the next-generation 500~600Ah+ series high-capacity energy storage cells to effectively improve cell integration efficiency and reduce costs. The newly upgraded 6MWh+ energy storage product, while keeping the 20-foot standard prefabricated cabin volume unchanged, through the application of large-capacity cells and optimization of in-cabin layout, enables the total cabin energy to exceed 6MWh, further providing customers with an all-round energy storage system product that combines economic benefits, safety performance, and cycle life advantages. Full platform introduction of BMS active balancing, compared with conventional passive balancing, improves efficiency by 20 times, significantly reducing site operation and maintenance time costs and improving system availability. In terms of system environmental tolerance, the company will further enhance the system’s performance in extremely low temperatures (-30°C), extremely high temperatures (55°C), wind and sand resistance, low noise, sun exposure resistance, high altitude, and short-term grid-forming, enabling it to fully adapt to harsh environments worldwide and solve customer pain points. In addition, the company will develop new liquid cooling technology to enable the 6MWh+ energy storage container system to support 0.5P operating conditions.
Investment in Indonesian Battery Manufacturing Base
Phase I Annual Capacity of 8GWh
The company is committed to building a global industrial layout to meet the global market demand for high-performance battery products. At present, the company has established subsidiaries in the United States, Germany, Southeast Asia, and other regions, actively expanding the international market, and has established deep cooperative relationships with global leading energy storage and new energy vehicle enterprises. The company plans to establish production plants in Southeast Asia, Europe, and South America. These initiatives will enable the company to enhance its global brand influence, be closer to local customer resources and raw materials, and allow the company to diversify geopolitical risks. The company is investing in the construction of a battery manufacturing base in Indonesia, with the first phase planned to have an annual capacity of 8GWh of power and energy storage batteries and systems, as well as battery components.