HONG KONG, Mar 31, 2026 - (ACN Newswire) - March 27, Tianneng Power (00819.HK) officially disclosed its full-year 2025 financial results, demonstrating a year of stable business operations and growth in key operating metrics. During the year, Tianneng Power recorded an operating income of approximately RMB 53.799 billion, with gross profit of RMB 5.280 billion, representing a year-on-year increase of 7.48%. Notably, the manufacturing business contributed approximately RMB 47.918 billion, representing a year-on-year increase of 10.01%. Net profit attributable to the parent of approximately RMB1.437 billion, representing a year-on-year increase of 25.77%. And net cash generated from operating activities of approximately RMB 5.191 billion, representing an increase of RMB 4.642 billion compared to the same period last year. (Basic earnings per share were approximately RMB 1.28. The Company proposes to declare a cash dividend of HK 36 cents per ordinary share (the “Share(s)”) held by Shareholders of Tianneng Power. The proposal shall be subject to consideration and approval by Shareholders at the annual general meeting to be held on 8 June 2026.)

In 2025, the global industrial landscape has continued to evolve, with technological transformation, energy transition and shifts to globalization pathways advancing in tandem. During the year, Tianneng Power steadfastly adhered to the vision of “Promoting Resource Recycling and Sustainable Development to Build an Efficient Energy System.” Through practical efforts, the Company maintaining close relationships with its customers and responding to market needs, while continuously refining its products and capability. This has gradually strengthened our operational resilience and enabled us to respond calmly to challenges posed by global economic pressures and intensifying industry competition.

As an industry leader, while solidifying its domestic foundation, Tianneng Power has steadily advanced its international development strategy. The Group has established a business system centered on lead-acid batteries and the coordinated development of multiple technological routes, focusing on the needs of power and energy applications. The Group is committed to offering customers diversified battery products and energy solutions, encompassing research and development (R&D), manufacturing, sales, collection, recycling and related services. The Group focuses on lead-acid battery products, widely used in motive power applications for light electric vehicles and also extend to multiple segments, including backup power supply, automotive batteries and special-purpose industrial motive batteries. The Group has built a stable product base and customer base across these applications. With the transformation of the industry, the Group is advancing R&D and product development in areas including solid-state batteries, sodium-ion batteries, and hydrogen fuel cells. Moreover, Tianneng Power actively expanding recycling and regeneration operations for used lead-acid batteries and used Li-ion batteries, promoting synergistic across the battery recycling value chain.

The Company’s core business is primarily divided into three segments: High-end eco-friendly Batteries, New Energy Batteries, and the Circular Economy.

The High-End Eco-Battery Business serves as the Group’s cornerstone for stable operations, consistently playing a crucial “ballast” role amidst a complex and changing market environment. During the reporting period, the High-End Eco-Battery Business achieved operating revenue of approximately RMB 39.766 billion.

Facing industry adjustments brought about by policy implementations such as the New National Standard, Tianneng Power fully leveraged its product matrix advantages, which cover diverse scenarios, and its mature distribution network comprising over 3,000 distributors covering more than 400,000 retail outlets, thereby maintaining stable overall sales volume. Tianneng Power has leveraged digital tools to empower terminal operations, becoming the first in the industry to establish an integrated online and offline user service platform that connects service scenarios such as maintenance, repair, inspection and evaluation. This helps optimize value distribution across the value chain and enhance channel efficiency and market competitiveness.

While solidifying its leadership in the light electric vehicle market, the Group actively expands into emerging application areas such as backup power, automotive batteries, and special industrial power batteries. It deepens customer collaboration and accelerates internationalization strategy. The Group has leveraged the capacity release of its assembly and production bases in Vietnam as an important foothold to advance localized operations in target markets, including Southeast Asia, Europe and Africa. Through a model combining product adaptation, this combination of product adaptation, channel development, and service exports opens up broader growth space.

Simultaneously, the new energy battery business serves as an important driver of the Group’s growth across diversified technologies and application areas, supporting medium-term expansion while building long-term technology reserves. The Li-ion battery business, covering energy storage and motive power applications, has developed around advanced technologies, diverse application scenarios, and ecosystem synergies, with both business scale and operating performance improving. During the Reporting Period, the Group’s Li-ion battery business recorded operating income of approximately RMB1.541 billion, with its operational quality and efficiency improving significantly compared with the previous year. the Group’s self-developed containerized and cabinet-type ESS products have obtained national standards and overseas export certifications. The energy storage energy management system (“EMS”) has obtained authoritative certifications, including compliance with national standards (e.g., GB/T 42726), CNAS and CMA certifications. It was also honoured with the “Outstanding New Energy Storage Product Award” for large-scale storage EMS by Hangjia Net. Furthermore, the solid-state battery business has steadily advanced in product development and commercialization focusing on specific applications. Products for applications like electric motorcycles, low-altitude aircraft, and robotics have completed sample introduction, and the Group has commenced cooperation with certain downstream customers. The sodium-ion battery business has achieved breakthroughs in product R&D, receiving multiple industry awards including the GGII Sodium Battery Golden Globe Awards (高工钠电金ç'ƒå¥–) for “Annual Market Development Award” and “Sodium Battery Application evelopment Pioneer”, Verification work has commenced in automotive starting and start-stop applications, light motive power, and energy storage applications. The hydrogen fuel cell business, guided by a multi-scenario product strategy, has delivered orders across diverse applications, including buses, heavy-duty trucks, two-wheelers, and power stations. The parallel advancement of multiple technology pathways and progress in market-oriented breakthroughs have injected fresh momentum into the Group’s long-term development.

Alongside battery manufacturing, Tianneng Power regards the circular economy system as a key component for building long-term competitive advantage, continuously promoting synergy and operational efficiency improvements within the circular industry. During the reporting period, the Circular Economy Business achieved external operating revenue of approximately RMB 5.550 billion. Currently, the Group has constructed a mature and standardized recycling and treatment, as well as an efficient, intensive and coordinated circular economy industrial chain. Leveraging the synergies advantages of its full industry chain and a mature cost control system to achieve overall stable operational growth, with annual processing capacity of exceeding one million tonnes., its recycling network was further consolidated, with both processing scale and profitability improving. The Li-ion battery resource recycling business continued to refine its end-to-end technical system, achieving industry-leading recovery rates for critical metals. It currently possesses an annual processing capacity of 73,000 tonnes for waste Li-ion batteries treatment, with stable batch delivery capabilities. The products comply with prevailing industry standards and have passed the supplier qualification systems of multiple key clients, while steadily gaining market recognition. the Group successfully completed its first overseas import of recycled black mass feedstock, further diversifying its raw material sourcing structure and continuously strengthening the stability of its recycling and supply systems. Leveraging scalable processing capabilities and industrial chain synergies, Tianneng has successfully established a national-level circular economy standardization demonstration project and continues to strengthen the strategic supporting role of its circular business in the overall business structure, forming a green industrial loop from battery manufacturing to resource recovery.

Driving Industrial Progress through Technology, Entering a New Stage of High-Quality Development

Looking ahead, Tianneng Power will steadfastly implement a development philosophy centered on strategic guidance, systematically constructing a four-dimensional development system driven by technological innovation, intelligent manufacturing, circular ecosystems, and global market synergy. On the technology front, it will continue advancing multiple technical routes—lead-aid, lithium-ion, solid-state, sodium-ion and hydrogen fuel cell technologies—simultaneously, strengthening independent innovation capabilities from materials to applications. This includes consolidating the market leadership of lead-acid batteries, accelerating lithium battery cost reduction, efficiency improvement, and model innovation, steadily advancing the commercial exploration of solid-state batteries, achieving breakthroughs in key sodium-ion battery technology verification, and refining the multi-scenario application layout for hydrogen fuel cells. Concurrently, the Group will comprehensively advance the construction of smart factories by integrating cutting-edge technologies such as 5G, IoT and AI to enhance operational resilience and energy utilization levels through smart factory construction, injecting strong environmentally friendly green manufacturing system into high-quality development.

While deeply cultivating products and technologies, the Company will continue to strengthen its circular economy system, driving value chain integration and sustainable development. It will leverage the industrial chain synergy advantages of its high-end eco-battery recycling operations while enhancing recycling channels and production processes, and expanding high-value product portfolios to enhance anti-cyclical capabilities. In the Li-ion battery recycling segment, will accelerate channel expansion, technological iteration, and overseas resource deployment, deepen strategic cooperation with industry leaders. By continuously improving resource security capabilities and the level of value mining throughout the lifecycle, The Group is committed to developing into a global green energy solutions leader with an international vision and overall competitiveness.

About Tianneng Power International Limited

Tianneng Power International Limited (the “Company”) and its subsidiaries (collectively, the “Group” or “Tianneng”) were founded in 1986 and listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in 2007 (stock code: 00819.HK). The Company is headquartered in the People’s Republic of China (the “PRC”). Catering to power and energy application needs, the Group has built a business system anchored by lead-acid batteries and characterized by the coordinated development of multiple technology routes. It is committed to providing customers with diversified battery products and energy solutions, encompassing R&D, manufacturing, sales, recycling, regeneration, and related services.

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