Yiyuan Lithium Energy announced its annual report for 2024 on the evening of April 17, revealing that the company achieved a total revenue of 48.615 billion yuan and a net profit attributable to shareholders of 4.076 billion yuan. The net profit, excluding non-recurring items, stood at 3.162 billion yuan, reflecting a year-on-year growth of 14.76%.
As a globally competitive platform for all-scenario lithium batteries, Yiyuan Lithium Energy has developed a comprehensive R&D system that covers materials, battery cells, battery management systems (BMS), and systems. The company operates five key business segments: Yiyuan Chuangneng, Yiyuan Energy Storage, Yiyuan Power, strategic collaboration, and global cooperative business models (CLS). Its products are widely used in smart living, green transportation, and energy transition sectors.
In the consumer battery segment, the company’s lithium thionyl chloride batteries and supercapacitors (SPC) were recognized as national champions in manufacturing in 2024, continuing to lead the market. By the end of the reporting period, Yiyuan had supplied over <b>2 billion</b> electronic vaporizer batteries globally. The company has also deepened its collaboration with major clients in the cylindrical battery sector, steadily increasing its market share in various sub-segments. This growth has led to full production capacity, with significant shipment increases, resulting in monthly production and sales surpassing <b>10 million units</b>.
Furthermore, the company has seen rising market shares in sub-segments such as power tools, smart mobility, and cleaning equipment. Yiyuan is actively expanding into emerging markets, including backup power for BBU data centers, eVTOL, drones, and other applications, establishing leading product development partnerships with top clients. In the robotics sector, Yiyuan is providing comprehensive product solutions focusing on high energy density, safety, and fast charging or battery swapping needs. Key products include batteries for humanoid robots and robotic dogs, with some clients already completing sample deliveries and assembly. Lithium thionyl chloride batteries (ER14250/ER14505) are now being used in mass production for robotic encoder backup power, and other lithium products also show promising application prospects.
During the reporting period, Yiyuan's cylindrical battery factory in Chengdu began operations, while construction of the cylindrical battery factory in Malaysia is progressing smoothly and is expected to be completed and operational by early 2025, effectively meeting customer demand.
In the energy storage segment, Yiyuan Lithium Energy shipped <b>50.45 GWh</b> of energy storage batteries in 2024, marking a year-on-year increase of <b>91.9%</b>. According to data from the energy consulting firm InfoLink, the company's energy storage cell shipments maintained a solid position as the <b>second-largest</b> globally, enhancing its market competitiveness. In December 2024, the company is set to launch a <b>60 GWh</b> super factory, representing a new phase in the large-scale application of ultra-capacity cells in the global energy storage industry. The core product, the Mr. Big series <b>600Ah+</b> energy storage cell, sets a technical benchmark in the industry, achieving an energy efficiency of <b>96.2%</b> (at a 0.25P charge-discharge rate and 25°C environment) through advanced technology.
The accompanying energy storage system features a simplified structural design and intelligent thermal management technology, which can reduce the lifecycle operation and maintenance costs of energy storage stations by over <b>30%</b>, providing cost-effective solutions for new power systems. Additionally, the energy storage project at Yiyuan's Malaysian factory is steadily advancing according to plan, with mass production expected to begin in early 2026 to support global delivery.
Yiyuan Lithium Energy emphasized that amid increasing global trade tensions, its first-mover advantage in overseas production capacity is becoming more pronounced. High-quality overseas capacity adds value for international top-tier clients and is expected to further enhance the company's influence and market share in the energy storage sector.
On April 17, the board of directors of Yiyuan Lithium Energy approved a proposal regarding the profit distribution plan for 2024 and the interim dividend plan for 2025. The company plans to distribute a cash dividend of <b>5 yuan</b> per <b>10 shares</b> (tax included) to all shareholders, totaling <b>1.019 billion yuan</b> (tax included).
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