Yiwei Lithium Energy's revenue and net profit both increased last year, but the gross profit margin of power battery products declined

Yiwei Lithium Energy recently announced its 2023 financial report. The company achieved total operating revenue of 48.784 billion yuan, a year-on-year increase of 34.38%; net profit attributable to the parent was 4.05 billion yuan, a year-on-year increase of 15.42%. Although both revenue and net profit increased, the gross profit margin of power battery products declined. Yiwei Lithium Energy stated that it will continue to deepen its presence in the power battery field, improve product quality and reduce costs to cope with market competition.