Group 1 - The company, Tianneng Power (00819), announced plans to broaden its financing channels and optimize its financing structure [1] - Tianneng Co., a subsidiary indirectly owned 86.53% by the company, intends to apply for the registration and issuance of corporate bonds totaling up to RMB 2 billion (including RMB 2 billion) on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a maximum term of five years from the issuance date [1] - Tianneng Holdings, a wholly-owned subsidiary of the company, plans to apply for the registration and issuance of targeted debt financing instruments totaling up to RMB 2 billion (including RMB 2 billion), with a maximum term of five years from the issuance date [1]

Core Viewpoint - TianNeng Power (00819) aims to expand its financing channels and optimize its financing structure through the issuance of bonds and debt financing tools totaling up to RMB 40 billion [1] Group 1: Bond Issuance - TianNeng Co. proposes to apply for the registration and issuance of corporate bonds with a total principal amount of up to RMB 20 billion, with a maturity of up to five years from the issuance date [1] - The bonds will be issued in one or more tranches to qualified professional investors [1] Group 2: Debt Financing Tools - TianNeng Holdings, a wholly-owned subsidiary of the company, plans to apply for the registration and issuance of targeted debt financing tools with a total principal amount of up to RMB 20 billion, also with a maturity of up to five years from the issuance date [1] - These targeted debt financing tools will be issued in one or more tranches to specific institutional investors in the interbank bond market [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 TIANNENG POWER INTERNATIONAL LIMITED 天 能 動 力 國 際 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：00819） 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市 規則」）第13.10B條刊發。 請參閱隨附天能電池集團股份有限公司（「天能股份」）於上海證券交易所科創板（「科 創板」）刊發之公告（「該公告」），內容有關其註冊發行公司債券事宜。 天能股份為一家於科創板上市之公司。於本公告日期，本公司控制天能股份已發行 股本約86.53%及其註冊發行公司債券。 为进一步拓宽公司融资渠道、优化融资结构，天能电池集团股份有 限公司（以下简称"公司"）拟在上海证券交易所申请注册发行公司债 券，具体情况如下： 於聯交所網站登載該公告，僅為向香港投資者進行同等的資訊傳達及遵守上市規則 第13 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。 TIANNENG POWER INTERNATIONAL LIMITED 00819 本公司之附屬公司建議於中國發行公司債券及定向債務融資工具 本公告乃根據上市規則第13.09(2)及13.10B條以及證券及期貨條例第XIVA部項下內幕 消息條文而作出。 董事會欣然宣佈，為進一步拓寬本集團之融資渠道及優化其融資架構： - 1 - (1) 天能股份（本公司間接擁有86.53%權益之附屬公司及其股份於上交所科創板上市） 建議向上交所申請註冊及發行本金總額最多人民幣20億元（含20億元）之公司債 券，期限自發行日期起計最多五年（含五年），並建議向合資格專業投資者分一批 或多批發行公司債券；及 (2) 天能控股（本公司之間接全資附屬公司）建議向交易商協會申請註冊及發行本金總 額最多人民幣20億元（含20億元）之定向債務融資工具，期限自發行日期起計最 ...

Core Viewpoint - The article discusses the recent developments in the commercial energy storage sector in Anhui, highlighting significant projects and collaborations aimed at enhancing energy storage capabilities and integrating renewable energy solutions [2][5]. Group 1: Project Developments - A 37.5MW/100.5MWh energy storage station has been successfully connected to the grid in He County, Anhui, marking it as the largest user-side energy storage project in the region [3][5]. - The total investment for the He County project is 115 million yuan, and it employs a lithium iron phosphate storage system [5]. - As of now, there are 23 publicly announced user-side energy storage projects in Anhui since 2025, with a total capacity of 484.874MW/1451.319MWh [6][8]. Group 2: Project Distribution and Collaboration - The projects are primarily located in cities such as Hefei, Anqing, and Wuhu, with Hefei accounting for 32% of the total projects [6]. - The collaboration between Tianneng and Honghua Smart Energy aims to deepen strategic partnerships focusing on multi-scenario applications and virtual power plant construction [5]. - The largest tender project announced is a 300MW/600MWh user-side energy storage project in Woyang County [8]. Group 3: Future Prospects - The article indicates a growing trend in the energy storage market, with various companies like China Power Construction and Sunshine Power involved in the development of these projects [6][11]. - The integration of energy storage with renewable energy sources is emphasized as a key strategy for future energy solutions [5][6].

Core Viewpoint - The company is actively exploring new models of cooperation between banks and enterprises, focusing on deep integration through party building and tailored financial services to support the real economy [1] Group 1: Party Building and Financial Solutions - The company utilizes party building as a bridge to enhance trust and cooperation between banks and enterprises, creating a dual-driven approach of "Party Building + Business" [2] - A customized "full-cycle" financial solution is developed, moving away from traditional product-centric models to a layered and scenario-based service system tailored to the characteristics of the TianNeng battery industry [2] - The company offers flexible credit solutions, such as a 6-month seasonal inventory loan for upstream distributors, addressing short-term liquidity challenges [2] Group 2: Interactive Engagement and Experience - The company enhances communication efficiency by designing immersive interaction scenarios, resulting in the collection of 45 effective financing needs, with 32 converting into actual business [3] - Informal social settings, such as self-service tea breaks, are created to facilitate comfortable communication between account managers and distributors, capturing potential needs [3] - One-on-one consultations are conducted to address specific pain points of distributors, leading to tailored financial solutions [3] Group 3: Long-term Service and Support - A "closed-loop service" system is established to ensure that cooperation is sustained beyond initial engagements, with 15 distributors already completing loan approvals through dedicated teams [4] - Physical touchpoints are utilized to maintain relationships, inviting distributors to local branches and establishing direct communication channels [4] - A dedicated service team is formed to oversee the entire loan process, promising feedback within 3 working days and loan disbursement within 7 working days, thereby building trust through efficiency [4]

Core Insights - The 2025 Indonesia Asia Bike Exhibition was held in Jakarta, showcasing TianNeng Battery's diverse power solutions for various applications, including transportation and industrial logistics [1] - TianNeng highlighted its high-temperature lead-acid batteries, lithium battery solutions, and traction batteries, demonstrating its capabilities in the power energy sector and technological innovation [1] - The company introduced its high-temperature battery technology at a concurrent technology development forum, addressing the unique climate conditions in Indonesia and the high-frequency usage scenarios of electric two-wheelers and three-wheelers [1] Group 1 - TianNeng's high-temperature batteries significantly improve heat resistance, cycle life, and voltage stability compared to standard batteries, enhancing user experience in Indonesia's high-temperature environment [1] - The company plans to increase product investment and channel development in Southeast Asia, launching customized solutions tailored to local conditions [1] Group 2 - In addition to optimizing lead-acid batteries, TianNeng is actively promoting the commercialization and large-scale application of lithium battery technology, which offers high energy density, lightweight design, fast charging, and high safety [2] - The lithium battery solutions have been customized for the Indonesian market, focusing on high-temperature resistance, BMS management systems, and modular structures, supporting a dual approach of lead and lithium battery technologies [2] - Since entering the Indonesian market in 2023, TianNeng has been advancing its localization strategy, establishing an office in Indonesia in 2024 to build a local support system for channels, services, and brand operations [2]

Core Insights - The company is leveraging an "AI + ecosystem" strategy to transform its manufacturing processes and create a comprehensive ecosystem that integrates smart manufacturing, supply chain collaboration, and digital marketing [1][2] - The focus on "green development" and "intelligent efficiency" is driving significant changes in production processes, leading to reduced energy consumption and costs while exploring new digital applications [1] - The establishment of the "Future Factory" project in 2019 has enabled the company to implement advanced automation and digital technologies, enhancing sustainability and operational efficiency [1] Manufacturing Innovations - The company has developed an industrial internet platform that connects core enterprises in the supply chain, enhancing collaboration and efficiency [2] - The implementation of a Manufacturing Execution System (MES) has improved raw material inventory turnover rates and accelerated product development cycles through an "AI + expert" model [2] - The Wu Mountain Smart Factory, launched in 2022, serves as a model for replicating smart manufacturing practices across various core production bases [2] Technological Advancements - The company is advancing 5G applications in logistics, predictive maintenance, and production monitoring, with the Puyang Company achieving over 98% 5G network coverage [2] - The integration of 5G technology has led to a 20% reduction in delivery times, a 20% increase in production capacity, and a 30% rise in output [2] Market and Customer Engagement - Real-time data visualization across thousands of terminal points has improved market identification efficiency by five times, enabling grid-based market management [3] - The use of user profile data has driven personalized marketing efforts, resulting in a continuous increase in the sales proportion of high-value products [3] - The company has developed a community marketing engine utilizing AI technologies to generate personalized marketing content, enhancing conversion rates and customer retention [3]

Summary of TianNeng Power's Conference Call Company Overview - TianNeng Power was established in 1986 and listed on the Hong Kong main board in 2007. In 2021, its subsidiary TianNeng Co. successfully spun off and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [3][4]. Financial Performance - In 2024, TianNeng Power reported a revenue of 76.669 billion yuan, a year-on-year decrease of 8.61%. The net profit attributable to shareholders was 1.142 billion yuan, down 37.29% [3][4]. - The manufacturing revenue reached 43.059 billion yuan, with lead-acid batteries accounting for approximately 39.854 billion yuan, representing 91% of manufacturing revenue [4]. - The lithium-ion battery segment generated about 0.478 billion yuan in revenue, while the recycling industry contributed over 2.721 billion yuan [4]. Business Developments - The company is actively expanding into diverse application scenarios, including automotive starting systems, communication base stations, and backup power sources. It is also investing in lithium-ion, hydrogen fuel, sodium-ion, and solid-state battery technologies to meet various customer needs [3][4]. - In the lithium-ion battery sector, the focus is on low-speed power and energy storage applications, with successful product launches in low-speed vehicle-grade lithium batteries and solid-state battery cells [3][6]. - The recycling business has a capacity of 1.2 million tons for waste disposal, with a material recovery rate exceeding 99.5%. The recycling industry value reached 12.9 billion yuan, generating over 2.7 billion yuan in external revenue [7][4]. International Expansion - The company has seen rapid growth in overseas markets, with a manufacturing base in Vietnam that is currently under construction, contributing to an overseas revenue of 0.31 billion yuan, a year-on-year increase of 28% [3][4]. Market Outlook - The first quarter of 2025 shows signs of industry recovery, particularly in the two-wheeler market. The company remains optimistic about the lead-acid battery market and is focused on international expansion [9][10]. - The management expects to see improvements in financial performance as lead prices return to normal levels, alleviating cost pressures [15][14]. Challenges and Adjustments - The lead-acid battery market faced challenges due to price volatility and regulatory changes, impacting demand in the second half of 2024. However, the company anticipates growth opportunities from the old-for-new policy [5][12]. - The lithium battery segment reported a revenue of approximately 0.5 billion yuan but incurred a loss of 0.86 billion yuan. Adjustments in product offerings and sales strategies are expected to lead to a positive contribution within 1 to 2 years [24][25]. Strategic Focus - The company aims to solidify its core business while expanding into various application markets, enhancing channel development, and accelerating new commercialization efforts [8]. - Future capital expenditures will focus on smart upgrades in the lead-acid battery sector, new product development, and investments in lithium battery projects, with a significant reduction expected in the coming years [19][27]. Recycling and Sustainability - The company emphasizes resource recycling and regeneration, with a focus on lead-acid and lithium battery recycling. The management believes that the circular economy will have a positive outlook under national policy guidance [18][17]. Conclusion - TianNeng Power is navigating a challenging market environment with strategic adjustments and a focus on innovation and international expansion. The company is well-positioned to leverage its strengths in the lead-acid battery market while exploring new opportunities in lithium and other emerging technologies [16][34].

Financial Performance - The company's revenue for the fiscal year 2024 was RMB 76,668,813, a decrease of 8.61% compared to RMB 83,890,973 in 2023[6]. - The profit attributable to shareholders for 2024 was RMB 1,142,405, representing a decline of 37.29% from RMB 1,821,836 in 2023[10]. - The net profit margin for 2024 was approximately 1.70%, down from 2.18% in 2023[6]. - The company reported a basic earnings per share of RMB 1.01 for 2024, down from RMB 1.62 in 2023[6]. - The company's consolidated revenue for the year ending December 31, 2024, was approximately RMB 76.669 billion, a decrease of about 8.61% compared to the previous year[19]. - The attributable profit to shareholders was approximately RMB 1.142 billion, down approximately 37.29% year-on-year, with basic earnings per share of RMB 1.01[19]. - Other income increased by approximately 10.73% from RMB 1.897 billion in 2023 to RMB 2.101 billion in 2024, primarily due to an increase in government subsidies[73]. - The company's gross profit decreased by approximately 17.64% from RMB 5.965 billion in 2023 to RMB 4.912 billion in 2024, with the overall gross margin declining by 0.70 percentage points to 6.41%[72]. Assets and Liabilities - Total assets increased to RMB 55,280,555 in 2024, up from RMB 46,750,952 in 2023, marking a growth of 18.76%[7]. - The company's total liabilities rose to RMB 36,371,632 in 2024, compared to RMB 28,306,329 in 2023, reflecting a 28.73% increase[7]. - Cash and cash equivalents increased to approximately RMB 21.410 billion as of December 31, 2024, compared to RMB 15.435 billion as of December 31, 2023[78]. - The net current assets decreased to approximately RMB 3.945 billion as of December 31, 2024, from RMB 6.054 billion as of December 31, 2023, mainly due to increased borrowings[79]. - Total liabilities rose by approximately 28.49% to about RMB 36.372 billion, up from RMB 28.306 billion in the previous year[81]. - The debt-to-asset ratio increased to 33.55% in 2024 from 19.42% in 2023[89]. Market and Product Development - The company is focusing on enhancing its leadership position in the lead-acid battery sector and exploring diverse application scenarios[16]. - The company is advancing solid-state battery technology to prepare for future market demands in power batteries and energy storage[16]. - The company aims to optimize its battery recycling and reuse systems to promote healthy development in the circular economy[16]. - The company is accelerating the research and development of solid-state batteries, hydrogen fuel cells, and sodium-ion batteries to meet market demand[18]. - The company has launched several new power battery products and completed upgrades of multiple champion-level lead-acid battery products[26]. - The company achieved a manufacturing revenue of approximately RMB 43.559 billion during the reporting period[32]. - The high-end eco-friendly battery segment generated revenue of about RMB 39.854 billion, widely used in electric light vehicles and other applications[32]. - The lead-acid power battery segment, a core product, reported revenue of approximately RMB 37.181 billion, benefiting from stable demand in the electric light vehicle market[33]. Global Expansion and Strategy - The company is expanding its overseas sales network and enhancing service systems in key markets to support global market penetration[18]. - The company is accelerating its globalization strategy, achieving market breakthroughs in Vietnam, Indonesia, and Cambodia, with a new factory and offices established[30]. - The overseas revenue in power batteries, backup power, and energy storage has shown significant growth, with local production in Vietnam starting[41]. - The company aims to build a globally competitive brand by collaborating with international partners and integrating high-quality resources[19]. Sustainability and Innovation - The company is committed to sustainable development and environmental responsibility, aiming to strengthen its influence in these areas[29]. - The company has introduced innovative technologies in lithium battery recycling, significantly improving recovery efficiency and resource utilization[29]. - The company achieved a recovery rate of over 98.5% for cobalt, nickel, and manganese from retired lithium batteries, significantly enhancing the recovery of high-value metals[66]. - The company has established four green circular economy industrial parks in Zhejiang, Anhui, Jiangsu, and Henan, with an annual processing capacity of 1.2 million tons of waste lead-acid batteries[61]. Corporate Governance - The company has maintained high standards of corporate governance to enhance investor confidence[122]. - The board consists of nine members, including four independent non-executive directors, ensuring compliance with listing rules[124]. - The company has implemented the corporate governance code as per the Hong Kong Stock Exchange listing rules[123]. - The independent non-executive directors have confirmed their independence according to the listing rules[124]. - The company emphasizes board diversity as a key element for achieving strategic goals, considering factors such as gender, age, and professional experience[130]. Human Resources - The company employed 20,676 staff as of December 31, 2024, down from 25,776 in the previous year, with employee costs amounting to approximately RMB 2.906 billion[93]. - The company plans to enhance automation in production to mitigate rising labor costs and improve efficiency through employee incentive programs[103]. - The company provides adequate resources for training and career development to cultivate a diverse pipeline of potential successors[131]. Shareholder Information - The company plans to declare a cash dividend of HKD 0.17 per share, subject to shareholder approval at the annual general meeting on May 16, 2025[19]. - The board proposed a final dividend of HKD 0.17 per share, down from HKD 0.43 per share in 2023, pending shareholder approval[106]. - The proposed final dividend is expected to be paid on or before June 13, 2025, pending shareholder approval at the annual general meeting[107].