Gotion High-Tech Releases 2024 Annual Report and 2025 First Quarterly Report
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Gotion High-Tech Releases 2024 Annual Report and 2025 First Quarterly Report
PRESS RELEASE
Ad hoc announcement pursuant to article 53 LR
Ø Gotion High-Tech Releases 2024 Annual Report
Hefei, China, 25 April 2025 -- Gotion High-Tech Co., Ltd. (the “Company”) released its operating results for 2024 today:
In 2024, the Company achieved an operating revenue of RMB 35.39 billion a year-on-year increase of 11.98%, and realized an operating profit of RMB 1,283.45 million, a year-on-year increase of 31.58%, achieved total profit of RMB 1,263.11 million, a year-on-year increase of 33.22%, and achieved a net profit of RMB 1,154.13 million, a year-on-year increase of 19.09%, driven by rising demand for power lithium batteries from continued strong growth of the global new energy vehicle and energy storage markets;
Break-down by product line
i) Power lithium battery industry. In 2024, the global power lithium battery industry is entering a phase of accelerated technological iteration, characterized by continuous optimization of battery casing structure design, ongoing enhancements in energy density, and significant improvements in charging speed. These advancements are driving high-quality development within the power lithium battery sector, resulting in a steadily increasing penetration rate of new energy vehicles in the market. According to statistics from SNE Research, the global shipment volume of power lithium batteries in 2024 reached 998 GWh, marking a year-on-year increase of 15.4%. According to statistics from the China Association of Automobile Manufacturers, domestic sales of new energy vehicles in 2024 reached 11.582 million units, representing a year-on-year growth of 39.7% and accounting for 45.3% of total domestic automobile sales. Specifically, domestic sales of new energy passenger vehicles totaled 11.05 million units, reflecting a year-on-year increase of 40.2% and constituting 48.9% of passenger vehicle sales. Meanwhile, domestic sales of new energy commercial vehicles reached 532,000 units, marking a year-on-year growth of 28.9% and representing 17.9% of commercial vehicle sales. Technological innovation will lead the industry forward, with cooperation and competition among enterprises also contributing to the advancement of the industry chain.
ii) Energy storage battery industry. Driven by the global energy transition and industrial upgrading, the energy storage battery industry has welcomed significant development opportunities. With the increasing global demand for renewable energy and the orderly implementation of carbon reduction targets in various countries, the energy storage battery industry has emerged as a key pillar in the energy sector, enhancing the stability of the power grid frequency and facilitating the transition of the power energy market. According to data from EVTank, global energy storage lithium battery shipments reached 369.8 GWh in 2024, representing a year-on-year increase of 64.9%. According to data from the National Energy Administration, the cumulative installed capacity of newly built energy storage projects in China has reached 73.76 GW/168 GWh. This is approximately 20 times the capacity at the end of the 13th Five-Year Plan and has increased by over 130% compared to the end of 2023. As industrial policies at home and abroad continue to bear fruit, the acceleration of global renewable energy installations is driving a surge in energy storage demand, particularly in the (grid-side) energy storage sectors in Europe and the United States, as well as in China’s commercial and industrial energy storage market. Portable energy storage has also become a new growth point, and the global energy storage battery market maintains a steady growth trend.
iii) Power transmission and distribution equipment industry. In 2024, the Company continued to make technological innovation in the field of power transmission and distribution equipment, and has achieved a stable business growth and a certain market share. Furthermore, the Company, by continuously optimizing its product structure, increasing the R&D of key products, making full use of high-quality customer resources and continuously improving its sales and service network, achieved coordinated and linked development between power transmission and distribution business and new energy business, and thus improved its market competitiveness.
Key Financial Results
Item | 2024 Year | 2023 Year |
Total operating revenue (RMB) | 35,391,817,095.44 | 31,605,490,020.32 |
Operating profit (RMB) | 1,283,449,697.41 | 975,425,494.22 |
1,263,109,731.98 | 948,159,737.79 | |
Net profit (RMB) | 1,154,134,212.39 | 969,098,872.91 |
Net profit attributable to shareholders of the listed company (RMB) | 1,206,790,129.59 | 938,726,847.76 |
Net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses (RMB) | 262,543,788.91 | 116,241,267.75 |
Full Annual Report
Our full annual results report as of and for the twelve months ended 31 December 2024 is available on our website at https://en.gotion.com.cn/financial-reporting-release.
Ø Gotion High-Tech Releases 2025 First Quarterly Report
Hefei, China, 25 April 2025 -- Gotion High-Tech Co., Ltd. (the “Company”) released its operating results for the first quarter of 2025 today:
Key Financial Results:
Full First Quarterly Report
Our full first quarterly results report as of and for the three months ended 31 March 2025 is available on our website at https://en.gotion.com.cn/financial-reporting-release.
Contact information
Mr. Rui Gao
Phone: +86 0551 62100213
e-mail: gxgk@gotion.com.cn
About Gotion
Gotion High-Tech Co., Ltd., as the earliest private enterprise in power battery industry to enter the capital market in China, was listed on the Shenzhen Stock Exchange in May 2015, Specializing in power battery for new energy vehicles, energy storage application, power transmission and distribution equipment, etc.
Gotion High-Tech is a technology-based company focused on power battery technology research and development and innovation. It is one of the earliest enterprises engaged in the independent research and development, production and sales of new energy vehicle power lithium-ion batteries in China. Gotion High-Tech has global operations and has carried out strategic cooperation with Volkswagen, Tata Group, Vinfast and Jinko, among others.
Disclaimers
This announcement may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. Gotion undertakes no obligation, and does not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. Gotion accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.