【Guoxuan High-Tech Achieves Double Growth in Revenue and Profit in the First Half of the Year】On August 28, Guoxuan High-Tech released its semi-annual report for 2024. The report shows that Guoxuan High-Tech generated operating revenue of RMB 16.794 billion in the first half of 2024, marking a year-on-year increase of 10.2%; net profit reached RMB 271 million, up 29.69% year-on-year; and non-recurring net profit amounted to RMB 49.0612 million, a year-on-year growth of 38.71%. Guoxuan High-Tech's business is mainly divided into power battery systems and energy storage battery systems, accounting for 69.67% and 25.84% of total revenue, respectively.

[Guoxuan High-tech's New Battery Factory] According to the Malaysian National News Agency, battery manufacturer Guoxuan High-tech will establish a battery assembly plant in Malaysia to expand its influence in Southeast Asia. Cheng Qian, President of Guoxuan High-tech's Asia-Pacific Business, stated that the battery cells will be sourced from China, and the project is currently in the discussion stage. Riding on the wave of new energy globalization, Chinese lithium-ion battery industry chain enterprises are accelerating the pace of "going global" to establish factories, and Southeast Asia has become a popular destination for Chinese traction batteries to "go overseas" in recent times.

Guoxuan High-tech has achieved the preparation and basic performance verification of automotive-grade all-solid-state batteries. On August 20th, Guoxuan High-tech stated on the investor interaction platform that the company has now achieved the preparation and basic performance verification of automotive-grade all-solid-state batteries, marking a breakthrough from 0 to 1 in all-solid-state batteries. It has successfully passed the rigorous 200°C hot box test, providing a new implementation route for high-energy-density and high-safety battery systems.

[Guoxuan High-tech: Preparation and Basic Performance Verification of Automotive-grade All-solid-state Battery Completed] Guoxuan High-tech stated on the interactive platform that the company has now achieved the preparation and basic performance verification of automotive-grade all-solid-state batteries, marking a breakthrough from 0 to 1 for all-solid-state batteries. It has successfully passed the rigorous 200°C hot box test, offering a new implementation route for high-energy-density and high-safety battery systems.

【SMM Analysis】According to the latest research report released by the Natural Resources Defense Council (NRDC), Illinois plans to utilize the sites of soon-to-be-decommissioned power plants to deploy a battery energy storage system with a capacity of up to 3GW. This initiative will not only meet the state's electricity supply needs but also reduce reliance on the construction of new transmission lines.

Guoxuan High-tech Invests to Establish an Energy Storage Technology Company in Jiangsu" According to the Qichacha APP, Jiangsu Xuanteng Energy Storage Technology Co., Ltd. was recently established. Its legal representative is Sha Chenchen, with a registered capital of 10 million yuan. Its business scope includes: energy storage technology services; battery sales; Internet of Things application services; and Internet of Things technology research and development. Qichacha's equity penetration data shows that the company is jointly held by Hefei Guoxuan High-tech Power Energy Co., Ltd., a wholly-owned subsidiary of Guoxuan High-tech, and Jiangsu Tuteng Electric Technology Co., Ltd.