Core Viewpoint - Rui Pu Lan Jun is experiencing a significant turnaround, with a notable reduction in losses and strong growth in both revenue and battery sales, indicating a potential recovery after years of losses [2][4]. Financial Performance - In the first half of 2025, Rui Pu Lan Jun achieved revenue of 9.491 billion yuan, a year-on-year increase of 24.9%, and a gross profit of 829 million yuan, up 177.8%. The loss narrowed to 63 million yuan, a 90.4% reduction compared to the previous year [2][4]. - The company’s gross margin improved from 3.9% in the same period last year to 8.7%, driven by increased production efficiency and cost reductions [5]. Sales and Production - The company sold 32.4 GWh of lithium battery products in the first half of 2025, representing a year-on-year growth of approximately 100.2%. The sales of energy storage batteries reached 18.87 GWh, up 119.3%, while power battery sales were 13.53 GWh, increasing by 78.5% [4][8]. - Production capacity utilization has been consistently above 90%, reaching 100% in July 2025, which has contributed to the significant reduction in losses [5]. Strategic Initiatives - Rui Pu Lan Jun plans to expand production capacity by over 20% by 2026, with new production lines being established due to high demand and existing orders [5][7]. - The company aims to increase the proportion of its overseas energy storage business from 70% to 90%, focusing on high-margin international markets [6][7]. Cost Management - The company has implemented cost reduction strategies, resulting in a 21.01% decrease in administrative expenses and an 11.8% reduction in R&D expenses in the first half of 2025 [6]. - The merger of Rui Pu Energy and Lan Jun New Energy has led to improved operational efficiency and a more focused R&D approach, enhancing the overall productivity of the company [6][9]. Market Position - In the commercial vehicle sector, Rui Pu Lan Jun has achieved a market share of 7.5% in the new energy heavy truck battery market and 18% in the battery market for battery-swapping heavy trucks, marking a year-on-year growth of 809% [8][9]. - The company has established partnerships with five leading domestic automakers and three European automakers, focusing on high-quality projects in the passenger vehicle market [9].
上半年减亏九成要翻身？实探瑞浦兰钧生产基地，锂电池销量翻倍、产线拉满欲扩产20%