Chaowei power lead-acid battery revenue exceeds 24.2 billion

On April 1, 00951.HK announced its 2021 results that the group's revenue in 2021 was 29.489 billion yuan, up 8.0% from the same period last year; gross profit was 3.324 billion yuan, up 0.8% from the same period last year; and the profit attributable to the company's owners was 516 million yuan, down 28.3% from the same period last year.

The increase in revenue is due to an increase in sales of reusable materials, the announcement said. The decrease in net profit was due to a decrease in other gains and other losses due to losses in the fair value of financial assets for the year.

Specifically, lead-acid power battery is the main product of super power. In 2021, the sales revenue of Chaowei Power lead-acid battery was about 24.226 billion yuan, accounting for about 82.2% of the group's total revenue. Among them, the sales revenue of electric bicycle batteries is about 16.038 billion yuan, accounting for about 54.4% of the group's total revenue; the sales revenue of electric tricycle batteries and special-purpose electric vehicle batteries is about 8.187 billion yuan, accounting for about 27.8% of the group's total revenue.

In addition, Chaowei Power also has a lithium-ion battery business, which has sales revenue of about 246 million yuan in 2021.

The data show that Chaowei Power is mainly engaged in the manufacture and sale of lead-acid power batteries, lithium-ion batteries and other related products, which are mainly used in electric bicycles, electric tricycles and special purpose electric vehicles.

From the proportion of revenue, it is not difficult to see that lead-acid power battery is the core business of super power, and in terms of market layout, super power is also focused on this. It will deploy production facilities in areas with high demand for lead-acid batteries, including China's Shandong, Jiangsu, Henan, Zhejiang, Anhui, Jiangxi and Hebei provinces, in order to reduce warehousing and logistics costs and improve operational efficiency.

In addition, Chaowei Power said that it has always adhered to innovation-driven, established a number of R & D platforms, absorbed talents in various fields, and reserved strong technical strength. In 2021, the group's R & D expenditure is about 929 million yuan, accounting for about 3.2% of the group's total revenue.