As the global energy transition accelerates, the lithium battery industry continues to experience rising prosperity. According to SNE Research data, global energy storage battery shipments reached 461.3 GWh in the first half of 2026, a 71% year-on-year increase, with residential energy storage showing the fastest growth as shipments surged from 20.9 GWh to 47.7 GWh, a 128% jump. In the EV battery sector, global power battery usage for electric vehicles reached 608.5 GWh, up 20% year on year. Against this backdrop of continuous market expansion, REPT BATTERO (00666) has delivered an impressive set of interim results. During the reporting period, the company generated revenue of RMB 14.916 billion, up 57.2% year on year, with total lithium battery sales reaching 42.7 GWh, a 31.8% increase. Profitability has improved further on top of last year's return to profitability, with net profit of RMB 778 million in just six months, already surpassing the full-year 2025 level.
The significant profit surge stems from a comprehensive improvement across various operating metrics. In the reporting period, gross profit reached RMB 1.98 billion, up 138.8% year on year, while the gross margin improved from 8.7% to 13.3%, a 4.6 percentage point increase, reflecting substantially enhanced profitability. This improvement is driven by the combined effects of economies of scale, cost-reduction technologies, and a higher share of high-value-added products such as residential storage. Meanwhile, net operating cash flow reached RMB 3.46 billion, up approximately 252.7% year on year. The simultaneous improvement in scale, profitability, and cash flow marks the company's entry into a virtuous operating cycle.
From the perspective of this report, the most notable highlight of the interim results is the company's leap forward in its market position within the energy storage sector. According to SNE Research data, in the first half of 2026, REPT BATTERO ranked sixth globally in energy storage battery shipments, with its residential energy storage battery shipments ranking first globally and its commercial and industrial storage shipments ranking second worldwide. Residential storage is precisely the fastest-growing segment in the global energy storage market during this period, surging 128% year on year. This means REPT BATTERO has not only secured the top position but also captured the core niche within the segment with the highest growth rate and greatest flexibility in the entire sector.
Achieving the global number-one ranking in residential storage is no accident; it is the result of strategic technology choices and precise product matrix positioning. Leveraging its proprietary Wentop technology platform, the company has built a comprehensive residential storage product portfolio covering high-voltage, low-voltage, and large-capacity cells. Take the Wentop 392Ah cell as an example: it achieves an energy efficiency of 95% under 0.5P conditions, with a single-cell capacity of 1.25 kWh. Combining high energy efficiency with platform versatility, it can serve multiple energy storage needs across residential, commercial, and grid-side applications, enabling full-scenario penetration from household to power grid levels.
In the first half of this year, driven by rapid global residential storage demand expansion, REPT BATTERO's energy storage battery shipments reached 27.2 GWh, up 43.9% year on year. Revenue from energy storage batteries reached RMB 9.225 billion, a substantial 81.5% increase, accounting for approximately 62% of total revenue. The energy storage segment has unquestionably become the company's primary growth engine, with the synergistic release of economies of scale and brand momentum continuing to consolidate its leading position in the global energy storage sector. During the reporting period, the company's "energy storage + passenger vehicles + commercial vehicles" triple-engine business matrix continued to gain traction, with market positions steadily improving.
The power battery business also shows a clear upward trajectory in rankings. According to statistics from the China Automotive Power Battery Industry Innovation Alliance, in the first half of 2026, REPT BATTERO ranked sixth nationally in power battery installations, up two positions from eighth place for the full year 2025. Its installations for pure electric passenger vehicles and commercial vehicles ranked seventh and sixth, respectively. The interim report shows that in the first half of this year, power battery shipments reached 15.5 GWh, up 14.8% year on year, generating revenue of RMB 5.225 billion, a 29.8% increase.
Looking ahead, technological advancement and globalization remain the two principal themes. In the energy storage space, the 588Ah ultra-large-capacity cell and the Powtrix 6.26MWh containerized energy storage system position the company in the long-duration storage segment. In the power sector, 4C ultra-fast charging and flash-charging chemical systems are progressing steadily, with forward-looking plans already underway for emerging applications such as the low-altitude economy. At the same time, leveraging the industrial chain synergies of Tsingshan Group, the Indonesia manufacturing base has commenced operations smoothly, while subsidiaries in the UK and Japan are being actively established, progressively refining its global service network. Amid the global trends of rapid energy storage expansion and steady power battery growth, REPT BATTERO, holding the dual winning cards of global residential storage leadership and rising EV battery rankings, is poised at the starting point of a new growth cycle.
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