Hangke Technology signs important contract with Volkswagen Group to increase revenue scale and profitability

Hangke Technology recently announced that it has successfully received orders from Volkswagen Spain (PowerCo Battery Spain SA) and Volkswagen Canada (PowerCo Canada Inc.), which were generated through a bidding system. These orders are for lithium battery back-end equipment required for the Volkswagen Group to produce batteries in Spain and Canada. According to Hangke Technology's 2023 annual report, its operating income last year was 3.932 billion yuan. The total amount of this order exceeds 1.769 billion yuan. The signing of this contract will help increase the company's revenue scale and profitability, and is expected to have a positive impact on the company's operating performance this year and in future years. However, the company also reminded that there may be risks of failure to fully perform during the execution of the contract.