Rept Battero Energy (666) H1 2025 earnings summary

Executive summary

• H1 revenue rose 24.9% YoY to RMB9,491.1 million; gross profit reached RMB829.4 million and net loss narrowed 90.5% to RMB62.7 million.

• Lithium battery sales volume doubled YoY to 32.4 GWh; ESS shipments rose 119.3% to 18.87 GWh and EV battery installed capacity rose 78.5% to 13.53 GWh.

Financial highlights

• Revenue increased 24.9% YoY to RMB9,491.1 million; cost of sales rose 18.7% to RMB8,661.8 million.

• Gross profit increased 177.8% to RMB829.4 million; gross margin expanded to 8.7% from 3.9%, reflecting higher utilization and scale effects.

• Net loss was RMB62.7 million versus RMB658.2 million; loss attributable to parent owners was RMB65.3 million versus RMB443.0 million, and basic/diluted loss per share was RMB0.03 versus RMB0.19.

• Operating cash flow was RMB980.8 million; investing and financing cash outflows were RMB935.2 million and RMB132.3 million, respectively.

Outlook and guidance

• 5MWh ESS system shipments are expected to triple 2024 volume; the 392Ah cell is planned for a 6.26MWh system with 25% higher volumetric energy density in a 20-foot container.

• Development plans include 500–600Ah+ ESS cells, 6MWh+ systems, semi-solid fast-charging and all-solid-state batteries, low-altitude aircraft cells and battery recycling technology.

• Indonesia’s first-phase battery factory is planned for 8 GWh annual capacity; facilities in Southeast Asia, Europe and South America are under consideration.

• A European OEM CTP project is expected to enter mass production and export in Q3 2025; low-cost CTP conversion from aluminum to steel is scheduled for 2025.