L&F to Accelerate Mid- to Long-Term Growth with Dual NCM–LFP Strategy

On the evening of March 26, REPT BATTERO released its 2025 annual performance announcement. The company achieved annual operating revenue of 24.334 billion yuan, a year-on-year increase of 36.7%; and profit attributable to owners of the parent company of 623 million yuan. In 2025, the company's total sales of lithium battery products reached 82.7 GWh, a year-on-year increase of approximately 89.2%. Among these, revenue from power battery products was 10.013 billion yuan, up 35.6% year-on-year; revenue from energy storage battery products was 13.56 billion yuan, up 86.8% year-on-year, with its share of total revenue increasing by 14.9 percentage points to 55.7%.

Recently, CATL's battery pack laboratory officially received prestigious certification from the Volkswagen Group, becoming the first power battery company in the world to obtain Volkswagen's full-chain laboratory qualification recognition for cells, modules, and battery packs. At the certification ceremony, Dr. Uwe Westerhoff, Head of Certification at Volkswagen Group's Battery Testing Center, and Dr. Su Yuzhuan, Head of CATL's Testing and Validation Center, attended the event together with their core teams.

Recently, Shenzhen Hoypower Technology Co., Ltd. announced the completion of a Series A+ financing round worth hundreds of millions of yuan. Since the mass production of its solid-state batteries, Hoypower's revenue scale has achieved a compound annual growth rate exceeding 100%, with cumulative shipments surpassing 100 million units. Its large-scale delivery capabilities have been highly recognized by leading customers. Hoypower has successfully achieved key technological breakthroughs in solid-state batteries, including silicon-based anode systems with an energy density ≥400Wh/kg and lithium metal anode systems with an energy density ≥500Wh/kg. These advancements can meet the demands of low-altitude economy unmanned aerial vehicles for high safety and long endurance.