Tianneng made a net profit of 2.28 billion last year, with sales of 562 million of the top 10 customers of lithium-ion batteries.

On March 26, Tianneng (688819) released its annual report for 2020, saying that the company's operating income in 2020 was about 35.1 billion yuan, down 17.88% from the same period last year; the net profit of realizing homing was about 2.28 billion yuan, an increase of 52.83% over the same period last year; and the net profit after deducting Fei was 2.025 billion yuan, an increase of 54.41% over the same period last year.

Tianneng shares said that the net profit belonging to the shareholders of the listed company, the net profit after deducting non-recurring profits and losses and the net cash flow generated by operating activities increased by more than 30% in the current period compared with the same period last year, mainly due to the overall lower lead price in the reporting period than in the same period last year. As a result, the price and cost of the company's lead battery declined, but benefited from the company's industrial status and brand effect. The decline in the price of the company's lead battery is less than that of the cost, which in turn leads to an increase in the gross profit margin of the company's lead battery products. At the same time, the market demand for lead-acid battery products is strong, and the company's sales of lead-acid battery products increased compared with the same period last year.

According to the data, Tianneng Co., Ltd. is one of the leading enterprises in the domestic battery industry, which mainly focuses on the power battery business of electric light vehicles. It integrates the research, development, production and sales of electric special vehicle power battery, new energy vehicle power battery, vehicle start-stop battery, energy storage battery, 3C battery, backup battery and so on. At present, the company has formed a battery product system with the coordinated development of lead-acid battery and lithium-ion battery and the reserve development of hydrogen fuel cell and other new materials.

In 2020, Tianneng lead storage battery sales revenue reached 29.651 billion yuan, down 0.57% from the previous year. The main reason is that the price of lead, the main raw material, has fallen compared with the same period last year. There is a linkage mechanism between the price of lead battery and the price of lead battery, and the price of the product has dropped accordingly. But the company's sales of lead-acid battery products are still on the rise.

Lithium-ion battery is a strategic product of the company. In 2020, Tianneng Co., Ltd. will further increase investment in lithium battery technology research and development and production. The company's annual sales revenue of lithium-ion batteries increased by more than 90% over the previous year, and the sales volume increased by more than 120% over the previous year, mainly due to the further deepening of strategic cooperation between the company and downstream leading enterprises. The sales of the company's top 10 customers of lithium-ion batteries in 2020 were about 562 million yuan, an increase of about 141% over the same period last year.

In 2020, in the field of automobile start-up and stop batteries, the related business scale of Tianneng shares increased by more than 20% compared with the same period last year. On the one hand, the company speeds up the layout of automobile start-stop battery inventory, on the basis of optimizing and integrating the original channel network, further deepen cooperation with influential channel dealers to speed up the construction and development of terminal channels; on the other hand, actively strengthen cooperation with downstream vehicle manufacturers to open up the first-class market.

At present, the world has entered a new round of energy change era. As a key technology to promote the development of renewable energy, the development of energy storage-related industries has become an increasingly urgent need to achieve the goal of carbon neutralization. The development of energy storage industry is the trend of the times. Under the background that the energy storage industry is in the outbreak stage of 0 to 1, in order to meet the different needs of customers, the company continues to increase investment in energy storage technology research and development, and constantly improve product performance and market competitiveness.

In 2020, Tianneng Co., Ltd. has completed the construction and grid-connected operation of the national Electroweb Pheasant City (Jinling Substation) 12MW/48MWh lead-carbon energy storage project, the national Electroweb Quzhou 100kW/500kWh lead-carbon energy storage project, and the Qingdao Academician Port Optical Microgrid Lithium Energy Storage system project.

In addition, Tianneng has also designed and built an integrated photovoltaic energy storage project for EBONYI State in Nigeria, opened the Nigerian household energy storage market, and deepened the cooperation of household photovoltaic energy storage business through the EBONYI project, laying the foundation for the future household energy storage business in Nigeria. In the future, the company will practice the environmental protection concept of "Green Water and Green Mountain is Jinshan and Silver Mountain", continue to pay attention to the development trend of new energy industry, closely follow the development direction of new energy during the 14th five-year Plan period, and vigorously promote the development of energy storage business.

In 2020, Tianneng also actively developed fuel cell technology and constantly broke through technical problems. a total of five fuel cell-related technology licenses have been obtained, including "a bipolar plate for fuel cell" and "a device for testing the air tightness of bipolar plate of fuel cell". In addition, "Engineering R & D and application of high-power fuel cell stack system and its core components" has been listed as a key R & D project of Zhejiang Province in 2020 as a research breakthrough "sticking neck" technology and a major key core technology. The exploration and reserve of these cutting-edge technologies have laid a solid technical foundation for the development of the company's fuel cell business industry. The company established Zhejiang Tianneng hydrogen Energy Technology Co., Ltd. in February 2021, which is committed to promoting the industrialization of fuel cell technology.

Tianneng shares adhere to the R & D strategy of "new materials, new structures, new processes and new fields", constantly increase R & D investment, continue to carry out innovation and upgrading of new products and new technologies, and lead the development of the industry. In 2020, the company invested 1.242 billion yuan in R & D, an increase of 8.92% over the same period last year. In the whole year, the company added 467 patents (83 invention patents, 368 utility model patents, 16 design patents) and 9 software copyrights, involving lead storage battery, lithium-ion battery, fuel cell and other new materials, battery materials, technology path, production process and other aspects. By the end of 2020, the company has a total of 2157 authorized patents, including 431 invention patents.