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EVE plans to establish high-performance lithium-manganese battery project in Jingmen

Nancy From Gasgoo| October 19 , 2017 10:35 BJT

EVE plans to establish high-performance lithium-manganese battery project in Jingmen

Shanghai (Gasgoo)-In order to consolidate EVE's leading position in global lithium primary battery industry, EVE made a statement on Oct. 17, saying that its subsidiary in Jingmen signed a contract with Administration Committee of Jingmen High-tech Development Zone to establish a high-performance lithium-manganese battery project with a total investment of RMB 500 million. The construction of the project will last 24 months.

Thanks to the lithium battery technologies of EVE and its subsidiary in Jingmen, the geographical advantage of Jingmen High-tech Development Zone and support from local government, the high-performance lithium-manganese battery project will enhance EVE's overall competitiveness and consolidate its leading position in global lithium primary battery industry, according to the statement .

Established in 2001 and listed in Shenzhen GEM in 2009, EVE has developed core business including lithium primary battery, lithium-ion battery, power system, others and its products cover smart grid, intelligent transportation, smart security, energy storage, new energy vehicles, special industry, etc. Based on the concept of pursuing excellence and focusing on innovation, it aims to be a first-class provider of "intelligent connecting energy" solutions. Now EVE covers an area of about 500,000 square meters with 4 manufacturing bases in Huizhou of Guangdong and Jingmen of Hubei and also branches and offices in Hong Kong, Taiwan, U.S., Europe and lots of countries in the world.

Revenue of EVE in the first half of 2017 surged 63.65% year on year to RMB 1.334 billion. The net profit attributable to the parent company's shareholders soared 161.37% year on year to RMB 233 million. The revenue of EVE's lithium primary battery and lithium-ion battery reached RMB 448 million and RMB 397 million respectively, growing 18.6% and 155.63% year on year. 

Additionally, on Oct. 10, EVE revealed its performance prediction in previous three quarters, showing the profit range in first three quarters is evaluated between RMB 317.5346 million and RMB 333.4113 million. EVE Energy expressed that the fast development of Internet of Things and sharing economy made great contribution to its performance growth, and the growth of battery for mobility also played an important role in its sales growth.

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