2023-08-29 18:34:56
Hefei, China (ots/PRNewswire) – On August 29, high-tech company Gotion, a Chinese battery maker in which Volkswagen strategically invests, released its 2023 semi-annual report. During the reporting period, Gotion recorded operating income of RMB 15.239 billion, an increase of 76.42% compared to the previous year corresponds to the previous year. Particularly in the overseas regions, Gotion achieved operating income of RMB3.062 billion, up 296.74% year-on-year. The share of revenue increased to 20.09% from 8.94% in H1 2022.
Gotion’s core businesses, batteries and energy storage, have experienced significant growth in both revenue and gross profit margin. Driven by the rapid growth of the new energy automotive industry, Gotion’s battery business achieved a significant revenue increase of 58.56% to RMB10.478 billion in the first half year (H1), accounting for 68.76% of the total revenue. In addition, Gotion was able to expand its energy storage business and achieved revenue of RMB4.147 billion, up 224.33% year-on-year. The Energy Storage segment contributed 27.21% of the total revenue during this period. Especially in the field of lithium batteries, Gotion was able to record an increase in gross profit margin from 12.49% to 13.21% compared to the same period last year. The energy storage battery business also saw gross profit margin increase from 10.24% to 17.43%.
As a technology-oriented company, Gotion invested RMB1.204 billion in scientific R&D in the first half-year (H1) of 2023, up 38.49% year-on-year. In the first half of the year (H1), Gotion added 653 new patented technologies to its portfolio. As of the first half of 2023, Gotion has filed a total of 6,997 patents and been granted a total of 4,672 patents. Among them are 1,187 patents for inventions (including 77 foreign patents) and 3,082 patents for utility models. Gotion has also chaired and contributed to the development of 66 standards.
Gotion’s battery technology has continually brought breakthroughs and innovations. In May, Gotion introduced its self-developed Astroinno L600 battery cell and pack with a new LMFP system. The battery cell has an energy density of 240 Wh/kg, while the energy density of the system reaches 190 Wh/kg. Series production is planned for 2024. It is reported that Gotion’s third-generation battery cell nine models, including the L600 battery cell, the Volkswagen Unified Cell and the 4695 battery cell, have completed product iteration, which will bring new impetus to the technological innovation of the lithium battery industry.
Gotion’s collaboration with its main shareholder, Volkswagen, continues. Earlier this year, Gotion was officially awarded the Volkswagen Cell Test Lab Qualification Certificate, signifying recognition of its testing capabilities by Volkswagen and formal entry into the world’s leading technology management system. In May, Gotion’s wholly-owned subsidiary, Hefei Gotion High-tech Power Energy Co., Ltd. a procurement letter from Volkswagen making the company the designated supplier of lithium iron phosphate (LFP) unified cell products for the automaker’s overseas markets.
Questions & contact:
Yu Chen,
your_pp@gotion.com.cn
1693334238
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