On March 27, Tianneng Co., Ltd. (688819) announced its 2024 annual report, with the company's operating income of 45.04 billion yuan, a year-on-year decrease of 5.7%; the net profit attributable to the parent company was 1.55 billion yuan, a year-on-year decrease of 32.5%; net profit after deducting non-attributable to the parent company was 1.1 billion yuan, down 41.7% year-on-year; net operating cash flow was RMB6.563 billion, up 159.0% year-on-year; EPS (fully diluted) was 1.5991 yuan.

In the fourth quarter, the company's operating income was 12.15 billion yuan, a year-on-year decrease of 4.2%; the net profit attributable to the parent company was 90.33 million yuan, a year-on-year decrease of 84.8%; net profit after deducting non-attributable to the parent company was 79.98 million yuan, a year-on-year decrease of 84.4%; EPS was 0.0929 yuan.

As of the end of the fourth quarter, the company's total assets were 44.288 billion yuan, an increase of 23.6% over the end of the previous year; The net assets attributable to the parent company were 15.889 billion yuan, an increase of 3% from the end of the previous year.

The company's operation in 2024 is facing multiple challenges, the external environment is complex, and the internal reform task is arduous. Despite the decline in sales revenue, management has taken a series of measures to respond to market changes and ensure the continued development of the business.

In the lead-acid battery business, the company faced the dual pressure of policy uncertainty and raw material price fluctuations, and its sales revenue decreased by 5.79% year-on-year. In order to enhance its competitiveness, the company integrated traditional and digital marketing channels and optimized its product mix and production efficiency. In the field of lithium battery business, the company actively carries out technological innovation, successfully develops a number of new products, and undertakes energy storage projects for rail transit, promoting the high-quality development of the business. In addition, technological advances in the field of hydrogen and sodium-ion batteries have laid the foundation for the company's future development.

The company has also made progress in its international layout, especially in the expansion of the Southeast Asian market. At the same time, the management continues to pay attention to corporate governance to ensure compliance and transparency in information disclosure to safeguard the trust and rights of investors. Overall, despite the multiple challenges, the company has demonstrated its ability to respond and market potential through strategic adjustment and technological innovation.