Zhuhai Guanyu's power and energy storage battery business grows strongly

Zhuhai Guanyu's power and energy storage battery business performed well in 2023, achieving revenue of 547.5 million yuan, accounting for 4.78% of total revenue. Compared with the same period last year, production and sales increased by 30.69% and 43.46% respectively. Although the energy storage business has not yet achieved profitability, its growth momentum is good, and the gross profit margin of the energy storage part is expected to reach 10% to 15% in the next two years.