Desay Battery: Consumer Electronics Industry Expected to See Some Recovery in 2024 Desay Battery stated during a research meeting with institutions on March 26 that although the demand for consumer electronics improved in the fourth quarter of last year, overall demand was still not strong, with a year-on-year decrease. It is expected that there will be some recovery in the consumer electronics industry in 2024, with moderate growth in smartphones, laptops, and wearable devices. Desay Battery also mentioned that the company's energy storage cell business began production in May last year, with capacity ramping up in the second and third quarters. However, due to intensified industry competition, overall capacity utilization rate is not high. The energy storage cell business incurred a loss of 168 million yuan in 2023, and the goal for this year is to reduce the loss. The company's electric tool business covers mainstream global customers, with market demand expected to warm up this year, leading to a stable increase in sales volume.