Core Viewpoint - The article highlights the significant growth and strategic transformation of Ruipu Lanjun, showcasing its revenue increase and reduced losses, driven by cost-cutting and efficiency-enhancing measures, alongside a focus on technological innovation and market expansion [1]. Financial Performance - In the first half of 2025, Ruipu Lanjun reported a revenue of 9.491 billion yuan, representing a year-on-year growth of 24.9%, while the loss narrowed significantly by 90.4% to 63 million yuan [1]. Strategic Initiatives - Under the leadership of President Feng Ting since October 2024, the company has implemented a cost reduction and efficiency improvement strategy, effectively managing expenses and promoting technological innovation [1]. - The company is transitioning from a product export model to a more integrated "industry chain going abroad" approach, enhancing its global competitiveness [12][13]. Product Innovation and Market Focus - Ruipu Lanjun has introduced new products tailored to market needs, such as the 324Ah Pro version for commercial vehicles and eVTOL applications, addressing key industry pain points [5][6]. - The company has established deep partnerships with leading firms in the commercial vehicle sector, achieving full coverage of mainstream products in this market [6]. Market Trends and Growth Opportunities - The penetration rate of new energy heavy trucks has increased from 3.7% in 2023 to over 24% by June 2025, indicating a rapidly growing market for Ruipu Lanjun's products [8]. - The eVTOL market is projected to reach a size of $35 billion by 2025 and $300 billion by 2030, presenting significant growth opportunities for battery manufacturers [8]. Global Expansion - Ruipu Lanjun signed a strategic cooperation memorandum with Indonesia's Bakrie & Brothers Group to deliver over 3,000 electric buses and trucks by 2025, marking a significant step in its global expansion strategy [12]. - The company plans to establish a battery factory in Indonesia, expected to produce 8GWh of batteries annually, leveraging local resources to enhance international delivery capabilities [12]. Revenue Growth from Overseas Markets - In 2024, Ruipu Lanjun's revenue from overseas markets reached 2.663 billion yuan, a substantial increase of 153.4% year-on-year, indicating the growing importance of international markets for the company's growth [15].

Core Viewpoint - The heavy-duty truck sector is poised to lead the next wave of electrification, with significant growth expected in the sales of new energy heavy-duty trucks in the coming years [2]. Market Trends - The sales of new energy heavy-duty trucks are projected to exceed 80,000 units in 2024, representing a year-on-year growth of approximately 140% [2]. - In the first quarter of 2025, sales are expected to surpass 30,000 units, nearing 40% of the total sales for the previous year [2]. - By 2025, the domestic market for new energy heavy-duty trucks is anticipated to exceed 110,000 units, achieving a penetration rate of 15% [2]. Battery Supply Chain - The surge in new energy heavy-duty truck sales is driving demand for upstream battery supply, with over 26 GWh of power batteries expected to be shipped in 2024, predominantly from the top three battery manufacturers [2]. - Early entrants in the market are gaining competitive advantages through technology iteration and ecosystem development [2]. Company Performance - Ruipu Lanjun has established a strong position in the market by focusing on technology research and development, product validation, and customer binding [2]. - In 2024, Ruipu Lanjun achieved a heavy-duty truck installation capacity of 1.82 GWh, ranking third nationally, and secured orders from leading heavy-duty truck manufacturers [2]. Product Innovations - Ruipu Lanjun has upgraded its 324Ah product to the Pro version, enhancing energy density and cycle life, thus meeting the performance expectations of heavy-duty truck users [3][8]. - The 324Ah Pro cell features an energy density of 198 Wh/kg and a cycle life exceeding 10,000 cycles, significantly improving operational efficiency and reducing costs for heavy-duty truck operators [8][10]. Cost Efficiency - The 324Ah Pro cell has achieved zero cost growth despite a general increase of over 5% in similar products, showcasing Ruipu Lanjun's technological strength [12]. - The product's design allows for a significant increase in operational mileage, enhancing the utilization rate and reducing the unit freight cost for new energy heavy-duty trucks [10]. Advanced Battery Design - The S-box battery cluster developed by Ruipu Lanjun employs a frameless structure, reducing weight and improving energy density by 35% compared to conventional designs [16][19]. - The S-box can accommodate various energy configurations, including 450 kWh, 680 kWh, and up to 800 kWh, catering to diverse customer needs [19]. Safety Features - Ruipu Lanjun's battery design incorporates multiple safety features, including a two-stage explosion-proof valve and high insulation design, ensuring safe operation under high voltage conditions [17]. Market Positioning - The new energy heavy-duty truck market is characterized by high concentration, with leading battery companies forming long-term partnerships with major manufacturers, enhancing their market share [19]. - Ruipu Lanjun's continuous innovation in product development positions it to capture significant market opportunities in the new energy heavy-duty truck and broader commercial vehicle sectors [19].