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EVE Energy earns net profit of over RMB 400 million in 2017

Shirley From Gasgoo| February 28 , 2018

China auto market news, NEV field news, EVE Energy 2017 financial results

Shanghai (Gasgoo)- EVE Energy achieved a revenue growth of 27.46% year on year to RMB 2.982 billion in 2017, according to EVE's 2017 financial report released on Feb. 27. What's more, the net profit attributable to the shareholders of listed companies reached RMB 404 million, soaring 60.55% over the previous year. By the end of Dec. 31, 2017, the total assets of the company reached RMB 7.46 billion, surging 70.06% compared with the beginning of 2017.

The company also listed several reasons that contribute a lot to its excellent performance growth. First, the fast growth of international smart metering market and emerging IoT market boosted the rapid development of the company's lithium primary battery business. Second, the company's lithium-ion consumption batteries saw growth in both market shares and sales scale. Third, its sales of power and storing batteries obtained rapid growth as sales of heavy buyers grew gradually. Fourth, the rapid growth of electronic atomizer business in Shenzhen Smoore Technology Limited (Smoore), a shareholding company of EVE Energy, contributed a lot for EVE Energy to gain rapid net profit growth. At last, EVE Energy transferred 8.98% shares of Smoore, helping the company to gain profit growth.

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