[Lead-Acid Battery Enterprise Updates] At the beginning of the week, Tianneng Holding Group Co., Ltd., a subsidiary of Tianneng Power (00819.HK), successfully issued its first tranche of privately placed green technology innovation bonds for 2026. This bond is the first dual-labeled corporate bond for both “technology innovation” and “green finance” privately issued by a private enterprise in the interbank market nationwide, and it is also the first technology innovation bond issued by a private enterprise in the Huzhou area.

On the evening of August 28, Tianneng Power International Limited released its semi-annual report for 2024. In the first half of this year, Tianneng Power achieved revenue of RMB 21.622 billion, representing a year-on-year increase of 0.3%, and net profit attributable to shareholders of the listed company reached RMB 1.194 billion, up 9.32% year-on-year. Tianneng Power has now established a battery product system featuring the coordinated development of lead-acid batteries and lithium-ion batteries, as well as the reserve development of new material batteries such as hydrogen fuel cells and sodium-ion batteries. Currently, lead-acid batteries are the main contributor to the company's revenue, generating sales revenue of RMB 20.137 billion in the first half of the year.