Narada's main customers include Tianneng, Yadea, Chaowei, etc., and overseas customers account for 36% of its revenue

The traditional lead-acid business customers of Narada are mainly two-wheeled vehicle-related enterprises such as Tianneng, Yadea, and Chaowei. The main customers of industrial energy storage are operator customers such as China Tower, China Mobile, and China Telecom. The products of overseas customers are mainly energy storage systems, with revenue of 1.908 billion yuan in 2023, accounting for about 36% of the operating income related to lithium battery products.