Farasis Energy's lithium battery shipments to grow 60% in 2024, with a slight improvement in gross profit margin

In 2024, Farasis Energy's lithium battery shipments are expected to reach about 16GWh, a year-on-year increase of about 60%. Among them, the gross profit margin of battery cell products is positive, while that of modules is negative, and the gross profit margins of battery packs and energy storage systems are both low. Farasis Energy's power battery gross profit margin is 6%, only higher than Ruipu Lanjun, and the gross profit margin of energy storage products is the lowest. In the first quarter of 2024, the company's gross profit margin improved slightly to 11.89%, and the average product price is still the highest in the industry.