Tianneng Power International Limited
Tianneng Power International Limited (Tianneng Power) is engaged in producing motive battery products in the People's Republic of China. The Company's motive battery products are sold under its brand name TIANNENG, and are predominantly used in the electric bikes sold and distributed. The Company's products are focusing on lead-acid motive battery products for the electric bike market.
See more information about Tianneng Power International Limited
Tianneng H1 revenue down 24pct but with strong growth electric car and power storage businesses
Revenue from Tianneng's primary business producing electric bicycle batteries took a hit in the first half due to the financial crisis, but the company built significant revenues in two new product lines, power storage and electric car batteries.
The company plans to take advantage of new national policies supporting these two areas, which it sees as striong revenue sources in the near future.
Total first half revenue stood at RMB 97bn compared to last year's RMB 127bn, a fall of 24 percent.
However power storage batteries brought in RMB 8.4m compared to RMB 35, 000 the same time last year. Production at the comapany's plant in Muyang, Jiangsu province, has already gone into production and will hit full capacity in 2012.
Electric car batteries also brought in RMB 1.36m revenue for the first time. The company recently established a technical cooperation agreement with Chery and Geely car manufacturers.
