SVOLT Energy announces strategic adjustments in 2024 to focus on core business

Honeycomb Energy announced that it will make operational changes and adjustments in 2024 to reduce costs, increase efficiency, improve profitability, and bridge the gap between growth and profit. The company will focus on core businesses, including mining, cathode materials, energy management and recycling, while cutting businesses with low competitiveness, low growth rates, and losses. Honeycomb Energy plans to make overseas markets a strategic core task in 2024, especially in Southeast Asia. The company believes that the global new energy vehicle market is still in a blue ocean state, and through the "localization + technical cooperation" business model, new growth points can be found in overseas markets.