[SMM Tin News Flash: MIIT and Four Other Departments Jointly Launch Special Enforcement Campaign to Regulate Scrap Power Battery Recycling and Utilization]

During a conference call on April 27, Sungrow Power Supply stated that during the reporting period, the company achieved operating revenue of 15.6 billion yuan, a year-on-year decrease of 18%; net profit attributable to the parent was 2.29 billion yuan, a year-on-year decrease of 40%; the overall gross profit margin was 33.3%, down 1.8 percentage points year-on-year. The gross profit margin for energy storage was approximately 30%, improving from 24% in the fourth quarter of last year, mainly benefiting from an increased proportion of revenue recognized from high-margin regions such as Europe and Australia.

On April 27, Tinci Materials released its first quarter report for 2026. During the reporting period, Tinci Materials achieved operating revenue of 6.673 billion yuan, a year-on-year increase of 91.29%; net profit attributable to shareholders of the listed company was 1.654 billion yuan, a year-on-year increase of 1005.75%; net profit after deducting non-recurring gains and losses was 1.560 billion yuan, a year-on-year increase of 1062.23%. As of the end of March 2026, the company's total assets reached 29.881 billion yuan, an increase of 10.97% compared to the end of the previous year.

Recently, Jiana Energy's subsidiary Chibi Luoneng New Energy completed the filing for its sodium-ion battery biomass hard carbon anode project. With a total investment of 17 million yuan, the project will renovate 3,500 m² of factory space and is expected to produce 3,000 mt of sodium-ion battery biomass hard carbon anode annually, with construction planned to commence in May. Previously, Jiana Energy had established a 1,200 mt purified hard carbon pilot project in Huangshi. Combined with the launch of the Chibi project, the company's hard carbon anode capacity footprint is further expanding. Leveraging its iron-based polyanion cathode plus biomass hard carbon anode technology route, Jiana Energy continues to enhance its upstream and downstream sodium-ion battery industry chain, facilitating cost reduction and accelerating the scaling and industrialisation of the sodium-ion battery industry chain.