In 2025, the global new energy industry is progressively transitioning from scale expansion to a new phase characterized by structural differentiation, profitability prioritization, and technology-driven valuation. Companies that have strategically positioned themselves in high-growth sectors early on, continuously optimized their business structures, and deepened their global footprint are demonstrating resilient operations and an ability to navigate industry cycles effectively. Among them, REPT BATTERO (00666), anchoring its development on the "dual focus on mobility and storage" strategy, has actively seized opportunities in both the power battery and energy storage battery markets. Through long-term strategic planning and efficient operational execution, the company has delivered an annual report highlighting both high-quality growth and strategic investment.
Financial results show that REPT BATTERO achieved revenue of RMB 24.334 billion in 2025, a year-on-year increase of 36.74%. Gross profit reached RMB 2.721 billion, surging 269.2% compared to the previous year. Profit attributable to owners of the parent company was RMB 623 million, marking a significant turnaround from a loss to a profit. Basic earnings per share were RMB 0.27. Notably, net cash flow from operating activities for 2025 amounted to RMB 3.136 billion, an increase of 171% year-on-year, indicating a substantial enhancement in the company's ability to collect payments from its core business and a major improvement in cash flow quality. As of the end of 2025, the company's cash and cash equivalents balance stood at RMB 4.783 billion, providing ample financial support for subsequent capacity expansion, technological R&D, and global expansion.
Benefiting from a significant optimization of its fundamental operations, REPT BATTERO's investment value has gained market recognition. On April 29th, the company's stock price rose to an intra-year high of HKD 17.28 during trading hours, with an intraday maximum increase of 17.55% and a maximum year-to-date gain of 30%.
In 2025, REPT BATTERO's lithium battery product sales volume reached 82.7 GWh, a significant year-on-year increase of 89.2%, demonstrating a clear trend of volume scaling. The most notable change on the sales front was the continuous optimization of the business structure. During the period, revenue from the energy storage battery business reached RMB 13.561 billion, a substantial increase of 86.8% year-on-year, accounting for 55.7% of total revenue. According to statistics from the Shanghai Metals Market (SMM), REPT BATTERO ranked among the top five globally in energy storage cell shipments in 2025 and secured the top position worldwide for shipments of residential energy storage cells. The substantial growth in energy storage battery sales signifies that the company has firmly grasped one of the most certain high-growth segments within the current energy transition, which is also the core reason for the significant recovery in its profitability. Leveraging its 392Ah large-capacity cells and the Powtrix 3.0 system, the company has achieved comprehensive coverage across residential, commercial & industrial, and grid-side applications, directly translating product competitiveness into orders and financial performance.
The power battery segment also achieved high-quality development simultaneously, forming a synergistic pattern with the energy storage business. In 2025, revenue from power batteries reached RMB 10.013 billion, an increase of 35.6% year-on-year. The company focused on high-value segments such as commercial vehicles, ultra-fast charging, and new application scenarios, avoiding homogenized competition within the industry. In the field of new energy heavy-duty trucks, the company's market share in battery installations increased to 8%, a remarkable 278% growth year-on-year. Its annual installation volume of lithium iron phosphate (LFP) power batteries steadily ranked seventh in the industry. Furthermore, the company made forward-looking moves into the low-altitude economy sector, developing aviation-grade battery products for eVTOL aircraft, thereby opening up further growth potential in emerging markets. Additionally, its Wending Zeng Hun 4C ultra-fast charging cells and systems have successfully entered the supply chains of several mainstream automakers, driving growth in both passenger and commercial vehicle segments and diversifying profit contributors for the power business.
The breadth of product sales is rooted in the depth of its technological "moat." By the end of 2025, REPT BATTERO had accumulated 3,419 granted patents globally. The company's self-developed Wending battery technology has undergone continuous iteration, resulting in a tiered product matrix that includes mature 314Ah products, next-generation large-capacity cells like the 392Ah and 588Ah, and the Powtrix 6.25MWh energy storage system, building a differentiated competitive advantage. Concurrently, the company optimized its R&D investment structure, strategically allocating resources towards high-return areas such as energy storage and fast-charging technologies, leading to a continuously improving input-output ratio. This drove the overall gross profit margin to increase from 4.1% in 2024 to 11.2% in 2025.
Beyond technological depth, the continuous deepening of its global footprint has also injected strong momentum into the company's growth. Financial reports indicate that the company has established subsidiaries in the United States, Germany, Southeast Asia, and other regions, building a comprehensive global market layout. REPT BATTERO's performance breakthrough in 2025 is the result of the synergistic effect of its long-term strategic planning, technological innovation, and global deepening.
Looking ahead to 2026, with continued strong global demand for energy storage and the ongoing optimization of the power battery market landscape, the company will further deepen its "dual focus on mobility and storage" strategy. It plans to accelerate the deployment of large-capacity energy storage cells and the ramp-up of production capacity at its Indonesia base, while deepening its presence in high-margin markets such as Europe, America, and Australia. The company will continue to strengthen R&D and operational efficiency. Supported by a clear growth path and solid operational foundations, REPT BATTERO's earnings potential and profit stability are expected to improve further, continuously unlocking long-term growth space and maintaining a leading position in the industry's new round of competition.