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Tianneng Co., Ltd. will focus on the development of lithium power battery business for electric light vehicles.
Jul 7,2020 11:40CST
The content below was translated by Tencent automatically for reference.

SMM: July 6, the Shanghai Stock Exchange Kechuang Board listing Committee issued a review results announcement, agreed to Tianneng Battery Group Co., Ltd. (hereinafter referred to as "Tianneng shares") listing (IPO).

Data show that on the evening of December 30, 2019, Tianneng Power announced that the listing of its Tianneng Co., Ltd. on the board has been accepted by the Shanghai Stock Exchange. IPO of Tianneng Co., Ltd. plans to raise 3.595 billion yuan for green intelligent manufacturing technology renovation project, high-energy power lithium battery cell and PACK project, etc.

Due to the disclosure of the proposed spin-off of Tianneng Co., Ltd. listed on the board, the share price of Tianneng Power has risen sharply since the beginning of this year. As of July 6, Tianneng Power closed at 16.82 Hong Kong dollars per share, up 196.14% this year.

In terms of financial data, according to Tianneng shares, the company's main business income from 2016 to 2019 included sales of lead-acid batteries and lithium-ion batteries, of which lead-acid batteries accounted for more than 95%. However, from 2017 to 2019, the total sales revenue of the company's lithium-ion battery exceeded 2 billion yuan, which already has a certain scale, especially the overall upward trend in the business income scale of the lithium-ion power battery business of the electric light vehicle, which the company is currently focusing on development. leading in this market segment.

In addition, Tianneng continued to invest in lithium batteries from 2016 to 2019, with a total R & D investment of 127 million yuan. At the same time, the company actively introduces lithium-ion battery machinery and equipment to optimize the production line, with a total purchase and conversion amount of more than 450 million from 2016 to 2019, and the current production capacity is close to 2GWh.

In 2019, Tianneng shares also established a joint venture with (SAFT), a subsidiary of the French Total Group, to continue to carry out technical research and development in the field of lithium-ion batteries, improve the performance and competitiveness of lithium battery products, and further expand the scale of lithium battery business.

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