TrendForce learned that on the evening of August 22, EVE released its 2024 first-half annual results report.

According to the report, during the reporting period, EVE achieved a total operating income of 21,659,398,600 yuan, a net profit attributable to shareholders of listed companies of 2,137,249,700 yuan, and a net profit of 1,499,101,200 yuan, a year-on-year increase of 19.32%.

Among them, power battery shipments were 13.54GWh, a year-on-year increase of 7.03% while energy storage battery shipments were 20.95GWh, a year-on-year increase of 133.18%, more than doubling the growth.

EVE's main business has three major sectors: power batteries, energy storage batteries and consumer batteries.

In terms of energy storage batteries, EVE's capacity utilization rate increased steadily from January to June 2024, with shipments increasing by 133.18% year-on-year. Its market share further increased. The gross profit margin of energy storage batteries reached 14.38%.

According to the data, from January to June 2024, EVE's energy storage battery shipments ranked second in the world, one place higher than the global energy storage battery shipment ranking in 2023.

EVE's main products in the energy storage business include large iron lithium batteries, prismatic lithium iron batteries, cylindrical iron lithium batteries, covering battery cells, battery packs, systems to BMS and other comprehensive products and solutions. The products are widely used in power energy storage, industrial and commercial energy storage, household energy storage, communication energy storage, data center power backup, ship power and other fields.

During the reporting period, EVE attached great importance to the overseas markets, gave full play to EVE's competitive advantages of "global manufacturing, global delivery, and global service" and resource integration, and promoted in-depth cooperation with international customers in various modes to provide customers with high-quality products and services.

EVE has launched a new business model for overseas markets, namely the CLS global cooperative business model, to meet the diversified needs of customers.

In addition, during the reporting period, EVE's first CLS model landing project, ACT (Amplify Cell Technologies LLC), successfully started construction in Mississippi, United States. The company is a joint venture between EVE United States, a wholly-owned subsidiary of EVE Lithium Energy, Daimler Truck, PACCAR and Electrified Power, and plans to produce prismatic lithium iron phosphate batteries, mainly used in designated North American commercial vehicle fields, with an annual production capacity of about 21GWh. Three foreign companies and their affiliates will also become major customers to purchase most of the plant's products.

In terms of energy storage batteries, EVE can seize the market opportunity to increase the acquisition of overseas high-quality customers and orders, and continue to give full play to its core advantages such as brand, technology and quality to drive the rapid development of energy storage business.