EVE Energy boasts 71.92% YoY surge in H1 2023 revenue from power battery sales

Shanghai (Gasgoo)- In the first half of this year (H1 2023), China's lithium-ion battery manufacturer, EVE Energy Co., Ltd. (called “EVE Energy” for short), demonstrated remarkable performance, with a total operating revenue of around 22.976 billion yuan. This figure marks an impressive 53.93% spike compared to the same period last year.

Specifically, within the realm of electric vehicle (EV) batteries, EVE Energy witnessed a surge in revenues as well. The first half of the year saw operating revenue of 12.119 billion yuan for EV power batteries, marking a 71.92% soar year-on-year. Meanwhile, energy storage batteries also experienced notable growth, achieving semi-annual revenue of 7.072 billion yuan, a remarkable 120.17% surge year-on-year.

The company also revealed that its net profit attributable to shareholders of the listed company reached 2.151 billion yuan, signifying a 58.27% year-on-year leap. Excluding the impact of certain non-recurring gains and losses, the H1 net profit attributable to stakeholders rose 5.22% from a year earlier to 1.256 billion yuan.

EVE Energy's power battery products, photo credit: EVE Energy

These robust financial performances are aligned with the company's strategic blueprint, steadily unlocking high-quality production capacity, swiftly expanding the scale of power and energy storage battery shipments, and effectively boosting market share, said EVE Energy.

During the reporting period, the company's shipments of power batteries reached 12.65 GWh, representing an astonishing 79.46% year-on-year growth. According to data from the China Automotive Power Battery Industry Innovation Alliance, EVE Energy claimed the fourth spot nationally in terms of power battery installations for the January-June period of 2023, capturing a market share of 4.35%.

In the field of energy storage batteries, the company's product shipments surged, securing a prominent position within the industry. The January-June period saw its energy storage battery shipments reach 8.98 GWh, marking a remarkable 102.30% hike compared to the same period in the previous year. According to the data released by InfoLink, EVE Energy's energy storage cell shipments ranked third globally for the first six months of 2023.