PR97574

HEFEI, China, Aug. 26, 2022 /PRNewswire=KYODO JBN/ --

On August 26 Beijing Time, Gotion High-tech announced its interim results.

During the Reporting Period, the Company achieved revenue of RMB 8,638 million,

representing a year-on-year growth of 143.24%, of which revenue from overseas

regions increased by 358.28% year-on-year to RMB1.279 billion, and is expected

to achieve its target of 100% growth in total revenue over the previous year in

the future.

Gotion High-tech is a leading power battery company in the field of new energy

vehicles in China. Gotion High-tech generated revenue mainly from power lithium

battery, energy storage battery and power transmission and distribution

equipment. During the Reporting Period, company power lithium battery business

maintained a solid growth trend, and achieved revenue of RMB 6.61 billion ,

representing a year-on-year increase of 113.93%, and was the company's biggest

source of revenue. In particular, the energy storage battery business was

disclosed for the first time in the financial report, achieving revenue of

RMB1.28 billion during the period, accounting for 14.8% of the total revenue.

According to SNE Research, in the first half of the year, Gotion High-tech has

battery installed capacity of 5.8 GWh, with a market share of 2.9%, up 1

percentage point from the same period of last year, ranking 8th in the world;

and recorded over 250 thousand units for EV battery installed passenger vehicle

in the world, accounting for a market share of approximately 5.9%, and ranked

5th in the global market.

SOURCE  Gotion High-Tech