VEKEN TECHNOLOGY(SH:600152) Mei Ri Jing Ji Xin Wen·2025-06-20 16:34Core Viewpoint - The company is undergoing a strategic transformation towards sodium-ion battery storage business due to declining demand for lithium batteries in consumer electronics, with a focus on scaling production despite current financial challenges [2][3]. Financial Performance - In 2024, the company reported a revenue of 1.528 billion yuan, a year-on-year decrease of 8.64%, with a net profit attributable to shareholders of -28.71 million yuan [4]. - The gross margin improved by 4.91 percentage points to 13.95%, despite declines in revenue across its main product lines [4]. Sodium-Ion Battery Business - The company has secured approximately 100 MWh of sodium-ion battery storage project orders, with an additional 600 MWh in reserve, indicating a growing demand in the domestic market for 2025 [3]. - The company achieved a revenue of 6.811 million yuan from its energy storage battery business in 2024, with a gross margin of -7.35%, although this represents a year-on-year increase of 19.28 percentage points [2]. Market Conditions and Strategy - The company attributes the negative gross margin in the energy storage segment to low production capacity utilization (around 10%), high fixed costs, and initial low pricing strategies to capture market share [2]. - The decline in overall revenue is linked to falling raw material prices and a strategic shift to optimize customer structure by avoiding low or negative margin clients [5].