Rept Battero Energy (666) H2 2025 earnings summary

Executive summary

• Turned profitable in FY2025: net profit RMB680.9m versus a net loss of RMB1,352.6m in FY2024; revenue rose 36.7% to RMB24,334.0m.

• Lithium battery product sales volume increased 89.2% YoY to 82.7 GWh; designed production capacity reached 90 GWh at year-end.

Financial highlights

• Revenue increased 36.7% to RMB24,334.0m; gross profit rose to RMB2,721.1m from RMB736.9m.

• Gross margin expanded to 11.2% from 4.1%; profit before tax was RMB716.7m versus a loss of RMB1,352.6m.

• Net profit attributable to owners was RMB623.0m versus a loss of RMB1,163.1m; basic and diluted EPS was RMB0.27 versus a loss per share of RMB0.51.

• Operating cash flow was RMB3,135.9m versus RMB1,156.9m; investing cash outflow was RMB2,838.1m versus RMB5,298.2m.

• Adjusted for the net reversal of financial and contract asset impairment, reported impairment was a RMB39.8m gain in 2025 versus a RMB142.5m loss in 2024.

Outlook and guidance

• 2026 priorities: advance semi-solid/solid-state, ultra-fast charging and next-generation storage R&D, including commercialization of 500Ah+ cells.

• Expand in high-margin Europe, America and Australia markets, pursue Southeast Asia and Latin America, ramp Indonesia localization and increase overseas revenue contribution.

• Management expects competition to intensify; strategy emphasizes technology, quality, cost competitiveness and customer focus to sustain profitability.