EVE(300014)2025-04-25 13:02Financial Performance - In 2024, the company achieved total revenue of 48.615 billion yuan and a net profit attributable to shareholders of 4.076 billion yuan, with a non-recurring net profit of 3.162 billion yuan, reflecting a year-on-year growth of 14.76% [3][4]. Business Segments Consumer Batteries - The consumer battery segment continues to lead, with ongoing enhancements in delivery capabilities and expansion into emerging markets such as BBU data centers, eVTOL, drones, and aircraft [3][4]. - The company expects a 20% year-on-year growth in the consumer battery segment for 2025 [8]. Energy Storage - The energy storage business saw a significant leap, with a total shipment of 50.45 GWh in 2024, representing a year-on-year increase of 91.90% [4]. - The company ranks second globally in energy storage cell shipments, with a 24.25% share of overseas direct sales in 2024 [7][8]. Power Batteries - The power battery segment experienced a 7.87% year-on-year growth, with shipments reaching 30.29 GWh in 2024 [4]. - The company holds a 12.15% market share in the domestic commercial vehicle battery market, ranking second [4]. Production and Capacity - The company’s Malaysian factory is progressing as planned, with energy storage production expected to commence in early 2026 [5][6]. - The company is enhancing production capacity utilization through line modifications and customer expansion, with expectations for steady improvement in 2025 [8]. Market Outlook - The company remains optimistic about the U.S. market despite uncertainties regarding tariff policies, with large-scale deliveries of energy storage orders anticipated to begin in 2026 [5][6]. - The cancellation of mandatory storage policies is expected to stimulate more application scenarios in the energy storage market [7]. Strategic Developments - The company is focusing on new technologies, including solid-state batteries and sodium batteries, with plans for pilot production lines in 2025 and gradual scale-up in 2026 [8]. - The company’s commercial vehicle solutions include a range of products for various applications, with ongoing performance iterations [8].