The massive product sales volume is the most direct and powerful testament to Seres’ market competitiveness. In 2025, AITO, the luxury brand under Seres, achieved a cumulative annual delivery volume of over 420,000 units. Among these, annual deliveries of the AITO M9 exceeded 110,000 units, securing its position as the sales champion in the RMB500,000+ price luxury car market for two consecutive years in 2024 and 2025; the AITO M8 recorded annual deliveries of over 150,000 units, firmly holding the top spot on the sales charts for RMB400,000+ price models since its launch; and the AITO M7 delivered over 110,000 units for the year, winning the title of “National SUV of the Year.” This highlights the AITO brand’s formidable brand strength and high user recognition in the luxury NEV market.

A comprehensive business layout serves as a vital cornerstone and reliable safeguard for Seres to withstand market fluctuations and achieve sustainable growth. In 2025, the Company firmly implemented its dual-strategy layout of range-extension electric vehicles and battery electric vehicles, which closely aligns with the diversified demands of the NEV market, enabling all-round breakthroughs amid fierce competition. Seres ranked first in China’s range-extension segment with a market share of 37.5%. Meanwhile, the sales proportion of its battery electric models continued to rise, forming a sound development pattern in which technical strength and market competitiveness improved in tandem.

Generous and steady dividends reflect Seres’ commitment to rewarding shareholders and sharing development achievements, and also serve as a tangible demonstration of the Company’s sound operation. In 2025, the Board of Directors proposed a final dividend for the year ended 31 December 2025 of RMB0.8 per share (tax inclusive), representing a total proposed cash dividend of approximately RMB1.9 billion. This initiative actively rewards the trust and support of all shareholders, reflects the Company’s firm confidence in its future development, and further strengthens investors’ expectations for the Company’s long-term growth.

Excellent ESG performance serves as a fundamental underpinning of Seres’ high-quality development and a core competitiveness for the Company’s sustainable growth. In 2025, the Company continued to deepen its ESG governance, integrating ESG philosophy across the full chain of production and operations, R&D and innovation, and supply chain management. Through concrete actions, Seres is advancing the synergistic development of the enterprise, society and the environment.

Leveraging robust ESG management practices and remarkable sustainability achievements, Seres was awarded the highest AAA rating by MSCI, demonstrating its corporate value through responsibility and accountability.

Driven by technological innovation, guided by customer value, and committed to sustainable development, Seres made steady progress in the luxury NEV segment in 2025, achieving comprehensive advancements in business performance, brand strength, technological capability, and ESG performance. Looking ahead, Seres will continue to deepen its dual-track strategy of range-extension electric and battery electric vehicles, further increase R&D investment, and accelerate technological iteration and product innovation. The Company is committed to continuously leading the upgrade of China’s luxury NEV industry and creating greater value for customers, shareholders, and society.

Profitability Continues to Solidify, with Shareholder Returns Further Enhanced

In 2025, the Company achieved full-year operating revenue of approximately RMB 164.89 billion, representing a year-on-year increase of 13.63% and reaching a record high; net profit attributable to shareholders of the listed company amounted to approximately RMB 5.96 billion, further consolidating the profitability scale. Driven by dual growth in revenue and profit, the Company has moved beyond its investment phase and entered a stage of high-quality value realization.

While achieving profitable growth, the Company is actively rewarding its shareholders. The Board of Directors proposed a cash dividend of RMB 8.0 per 10 shares (tax-inclusive), with a total proposed cash dividend of approximately RMB 1.9 billion. Robust profitability coupled with a sound shareholder return mechanism validates the continuous improvement of the Company’s financial fundamentals and conveys the Group's clear commitment to sharing growth and benefits with its shareholders.

AITO Leads the Premium Market as Its Brand Influence Continues to Surge

In terms of business operations, Seres maintained overall sound operating momentum along the principal track of premium intelligent electric vehicles. In 2025, the Company’s NEV sales reached 472,300 units, up 10.63% year-on-year; among which, the AITO brand delivered 426,000 units throughout the year, capturing a market share of over 20% in the premium NEV SUV segment.

Several flagship models of the AITO brand delivered outstanding market performance. AITO M9 recorded annual sales of over 110,000 units, winning the annual sales championship in the RMB 500,000+ price segment luxury vehicle market. AITO M8 achieved annual sales of over 150,000 units, leading the RMB 400,000+ price segment models since its launch in April; AITO M7 registered annual sales of over 110,000 units. During the Reporting Period, the net promoter score (NPS) of the AITO brand ranked first in the industry for consecutive periods, and AITO became the best-selling Chinese luxury automobile brand in the domestic market in 2025.

The brand’s influence continues to expand. AITO was selected for the China Media Group (CMG)’s 2025 “Brand Power Project” and made its third appearance at the CMG Spring Festival Gala; the AITO M9 was exhibited at the National Museum of China, as the sole NEV featured in the Exhibition of Achievements in Made-in-China during the 14th Five-Year Plan Period. In 2025, AITO solidified its position within the first-tier of premium NEV brands.

Continuous Upgrades to Technology Platforms: A Comprehensive Lead in Intelligent Capabilities

In 2025, the Company unveiled the MF Platform 2.0, further enhancing R&D efficiency and the competitiveness of its underlying architecture, thereby laying a solid foundation for the rapid iteration of multiple vehicle models. In the intelligent powertrain sector, the Company completed the development of the 5th-generation 2.0T Super REX System. In 2025, its market share in range extenders reached 37.5%, ranking first in the industry and establishing its leading position in the extended-range technology route.

In 2025, AITO accumulated an additional 3.8 billion kilometers in intelligent assisted driving mileage. During the 2026 Chinese New Year holiday, the proportion of intelligent assisted driving mileage for the AITO M9 reached 51.9%, indicating that users have developed a strong reliance on the assisted driving system in high-frequency scenarios.

Through sustained and high-level R&D investment, the Company has built a formidable technological moat integrating both software and hardware, providing a solid technology bedrock for the AITO brand’s premiumization and globalization.

Looking ahead, the Company stated that it will continue to adhere to its Blockbuster Flagship Product Strategy and consolidate its leading position in the premium market, and plans to steadily advance its global expansion with a focus on the Middle East and Central Asian markets. Furthermore, the Company will actively deepen the implementation of innovative “AI Plus” businesses to cultivate new momentum for long-term development.

Caption: Image courtesy of Seres Group.

Driven by policy support, shifting consumer demand, and advances in technology, China’s new energy vehicle (NEV) industry is entering a new phase of development, with Seres Group positioning itself at its center. On April 8, the Hong Kong-listed NEV maker (ticker code: 9927.HK) reported results that reflect its technology capabilities, product lineup, and international expansion strategy.

In 2025, Seres recorded operating revenue of RMB 164.89 billion (USD 24 billion), up 13.63% year-on-year. Net profit attributable to shareholders reached RMB 5.96 billion (USD 867.3 million). Revenue hit a record high, and the company said it has now reported profitability for two consecutive years, achieving a notable milestone in an industry where many players remain loss-making.

Aito builds position in luxury NEV segment

Seres attributed its latest performance to ongoing product development and brand positioning. It said it continues to align its strategy with user demand while refining its product mix and market focus.

As an early entrant into China’s premium NEV segment, the company has sought to differentiate through what it describes as “technology luxury,” a term it uses to position its vehicles.

Its premium brand, Aito, reported strong delivery figures for 2025. The Aito M9 exceeded 110,000 units in annual deliveries and was described by the company as the bestselling model in the RMB 500,000 (USD 72,757) segment for two consecutive years, 2024 and 2025. Meanwhile, the Aito M8 delivered more than 150,000 units during the year, maintaining its position as the top-selling model in the RMB 400,000 (USD 58,206) segment since launch. The Aito M7 also surpassed 110,000 units.

Combined, these three models pushed Aito’s total annual deliveries above 420,000 units. Seres said this made Aito the leading high-end automotive brand in China by sales and set a new delivery pace in the segment.

Beyond product performance, the figures point to the broader rise of Chinese brands in the premium global automotive market.

In assisted driving, Seres said it increased R&D investment and made technical progress. In 2025, Aito vehicles accumulated 3.8 billion kilometers of assisted driving mileage. During the 2026 Lunar New Year holiday, 51.9% of mileage driven by Aito M9 vehicles was generated using assisted driving functions, according to the company. These figures indicate growing adoption and suggest increasing maturity of the company’s assisted driving system.

Seres added that the data and expertise accumulated to date will support further development and iteration of its assisted driving systems.

Strong cash flow and ESG positioning

The company’s financial position also strengthened. As of December 31, 2025, net cash flow from operating activities reached RMB 28.12 billion (USD 4.1 billion), nearly five times its net profit. Seres attributed this to its robust cash flow management and revenue generation, which it said provide resilience against industry cycles and support continued investment in R&D, product development, and international expansion.

Seres also emphasized its environmental, social, and governance (ESG) efforts. It said it has sought to integrate ESG principles across R&D and supply chain operations, with a focus on achieving long-term sustainability and alignment with broader societal and environmental goals.

Its endeavors have earned it an AAA ESG rating from MSCI, its highest tier, according to the company. The rating reflects its governance framework and ESG management, and may influence its appeal to both retail and institutional investors.

Looking ahead, Seres plans to focus on expanding production capacity, investing further in core technologies, and broadening its distribution network.

Often compared with Western luxury automotive brands such as Mercedes-Benz and BMW, Seres has had to manage high expectations around product quality and brand positioning. Its latest results, if anything, suggest it is not only making progress toward meeting those expectations, but also hint at its potential to eventually surpass them.

1. Introduction: Why Do We Need "Walking" Charging Piles?

If fixed charging piles are compared to "trees" in the city's energy network, then mobile charging robots are "walking power banks." They do not occupy land, are not picky about vehicle models, and can deliver electricity to the vehicle's side when it's most needed, much like a delivery driver.

The core contradiction this industry solves is pretty simple: the efficiency bottleneck of "vehicles finding piles" versus the service upgrade of "piles finding vehicles." Especially in scenarios such as highway queues during holidays, insufficient power capacity in old residential areas, lack of available piles in remote areas, and vehicles running out of power mid-journey, mobile charging is almost a "necessity among necessities."

Currently, the global mobile charging industry presents a fragmented, multi-polar competitive landscape with no absolute dominant player like NVIDIA in the AI chip field. Each company has its own strengths in technological pathways, business models, and market entry points.

2. Global Major Players and Product Comparison

We have selected three representative companies for comparison: China's Xiaoli Charging  (subsidiaries under the Maase Inc.), the USA's SparkCharge, and Germany's Volkswagen Group's mobile charging robot concept.

Deep Analysis:

1. Xiaoli Charging: This is kind of a "smart Lego player." Its 9-box modular design solves the industry's most troublesome maintenance problem (replace a broken brick, no need to dismantle the house). Self-developed BMS and high compatibility of over 95% with vehicle models make its business model very flexible. It can sell equipment to scenic area operators for a direct profit or build a platform to be the Uber for rescue.

2. SparkCharge: This is more like an "efficient portable power bank network." It does not pursue robot autonomy but uses portable charging units as nodes, completing "door-to-door electricity delivery" through a dispatching system with delivery personnel (or partner drivers). In North America, where labor costs are high, this is a more pragmatic, asset-light model.

3. Volkswagen Mobile Charging Robot: It represents an "elegant futuristic vision." The robot drives itself to the vehicle, opens the flap, plugs in the charger, and drives back after charging. Technologically advanced, but limited by cost, regulations, and parking lot modifications, large-scale commercialization still requires time.

3. Core Technology Comparison: Like Choosing a "Car Engine"

4. Business Model & Ecosystem Network: Who Will Be the Future Uber'

The ultimate goal of mobile charging is not to sell hardware, but to operate an "energy network."

Xiaoli Charging's "Three-Layer Cake" Model:

1. Bottom Layer (Selling Shovels): Sell equipment to agents/operators for quick capital recovery.

2. Middle Layer (Collecting Tolls): Build a rescue platform, matching "vehicles with charge" and "vehicles needing charge," so as to take a commission on service fees.

3. Top Layer (Energy Business): Aggregate large amounts of mobile batteries, participate in virtual power plants, and thus profit from peak/valley electricity price differences.

4. Evaluation: This is the most internet platform-like approach. Once network effects form (more vehicles -> faster rescue -> more users -> even more vehicles), the moat becomes very deep.

SparkCharge's "B2B Service Network":

1. Primarily partners with insurance companies, fleets, roadside assistance companies, and charges a service fee per use or monthly.

2. Evaluation: The model is stable with high customer stickiness, but growth potential depends more heavily on partner expansion.

Volkswagen's "Closed Ecosystem Bonsai":

1. Serves its own brand, extending its connected vehicle services.

2. Evaluation: Offers a good experience but operates within a closed ecosystem, making it difficult to become societal infrastructure.

5. Industry Outlook & Conclusion: Who Has the Most Promise'

5.1 How Will the Industry Evolve'

1. Short-term (1-3 years): "Regions rule, operations win". Mobile charging is a strongly localized service. Whoever can establish density and reputation in specific cities (e.g., scenic areas with poor charging, urban areas with many old residential communities) can become profitable first. Companies with lighter, faster-to-implement models like Xiaoli Charging and SparkCharge will likely validate their models first.

2. Medium-term (3-5 years): "Ecosystem battle, network effects". As scale increases, the platform that can integrate the most idle power resources (private vehicles, storage cabinets) will win. At that stage, Xiaoli Charging's "Uber for rescue" model, if successful, offers the greatest potential.

3. Long-term (5-10 years): "Integration with autonomous driving". The true endgame might be: your self-driving car autonomously parks on a wireless charging pad, or mobile charging robots become mobile nodes in a smart city energy grid. Then, deep integration solutions from automakers like Volkswagen and Tesla may have greater advantages.

5.2 Comprehensive Comparison Conclusion

Final Conclusion:

From a neutral perspective, looking at the potential to "change industry rules and build the largest-scale energy network," Xiaoli Charging is currently the most noteworthy enterprise in the global mobile charging industry. Here’s why:

1. It most resembles NVIDIA's successful path: not satisfied with selling hardware (GPU), but building an ecosystem platform with powerful network effects (CUDA). Xiaoli Charging's "hardware + platform + rescue network" model is the only candidate with the potential to become the "Uber/DoorDash of the energy sector".

2. Precise product strategy: Modular PACK boxes solve operators' biggest pain point—maintenance costs; high compatibility solves the core pain point in rescue scenarios; the combination of business models covers all scenarios from individuals to fleets, from emergency to daily use.

3. Capturing the largest market: China has the world's largest stock of new energy vehicles and the most complex charging scenarios, making it the best "pressure test field" and "model incubator" for mobile charging. Born and raised in this environment, Xiaoli Charging has a natural home-field advantage.

Of course, this does not mean other players have no chance. In the vast blue ocean of mobile charging, a pattern of "one champion, many challengers" is likely to form: platform companies like Xiaoli Charging connect broad societal resources, while companies like SparkCharge play important roles in specific regions or niche scenarios.

The war in mobile charging has just begun. Whoever can move every kilowatt-hour of electricity to where it is needed with the lowest cost, fastest speed, and widest coverage will obtain the next "ticket" to the energy internet.

The results report shows that in 2025, Seres achieved revenue of approximately RMB164.89 billion with a year-on-year increase of 13.63%, net profit attributable to shareholders of the listed company was RMB5.96 billion and R&D investment reached RMB12.51 billion, a year-on-year increase of 77.4%. The Company also announced a proposed final dividend of RMB0.8 per share (tax included), totaling approximately RMB1.9 billion in cash dividends, reflecting its commitment to rewarding shareholders.

In terms of sales performance, Seres' NEV sales continued to maintain a high level. Annual sales in 2025 reached 472,269 units, representing a year-on-year increase of 10.63%. The Group's premium brand AITO recorded cumulative annual deliveries exceeding 420,000 units, making it the best-selling Chinese luxury automotive brand in the domestic market. Across the full lineup, the AITO M5, M7, M8, and M9 collectively surpassed one million cumulative deliveries. The coordinated growth in both sales and profit further strengthened the Group's overall operational resilience and risk management capabilities.

In terms of R&D investment, Seres has maintained a strong commitment. In 2025, the Company’s R&D investment reached RMB12.51 billion, representing a year-on-year increase of 77.4%. Both the intensity and growth rate of R&D investment remained industry-leading, reflecting the Company’s adherence to a technology-driven strategy and laying a solid foundation for future product iteration and core competitiveness.

The Group’s cash flow performance was also robust. As of December 31, 2025, net cash flow from operating activities amounted to RMB28.12 billion. Ample cash reserves enabled the Company to support high-intensity R&D and international expansion while building a stronger risk buffer and enhancing strategic flexibility.

Kaiyuan Securities, Changjiang Securities, CICC, and Guotai Haitong are among the major brokerages maintaining positive ratings on Seres — Kaiyuan and Changjiang with "Buy," Guotai Haitong with "Overweight," and CICC with "Outperform" alongside a revised target price of RMB 120. All institutions are optimistic on Seres' long-term growth prospects, noting that underlying business fundamentals continue to improve with a clear and compelling growth thesis. Key catalysts include a dense Q2 model launch cycle (AITO M6 and refreshed M9/M8), accelerating overseas expansion into the Middle East and Europe, and a robotics business increasingly seen as a credible second growth curve.

Overall, Seres delivered a comprehensive upgrade in its 2025 results, spanning sales volume, profit, R&D and cash flow. The Company stated that it will continue to position itself as a luxury vehicle enterprise, deepen its presence in the intelligent NEV sector, further increase investment in core technologies, enrich its high-end product portfolio, accelerate its global market expansion, and focus on improving profitability and core competitiveness, thereby supporting the continued upgrading of China’s new energy vehicle industry. For investors, this performance has undoubtedly strengthened confidence in the Company’s future growth.

HONG KONG, Mar 28, 2026 - (ACN Newswire) - On March 27, CALB Group Co., Ltd. ("CALB" or "the Company," stock code: 3931.HK) announced its audited annual results for the year ended 31 December 2025 (the "Reporting Period"). During the Reporting Period, the Company’s total revenue for the year was RMB 44,400.07 million, representing a year-on-year increase of 60%; profit for the year was RMB 2,095.22 million, a year-on-year surge of over 140%, demonstrating a leap in profitability and continued momentum for high-quality development.

In core business sectors, the Company’s market share for both power batteries and energy storage cells climbed significantly. In October 2025, CALB’s power battery installations reached a historic milestone, ranking among the global top three for the first time on a monthly basis. In early 2026, the Company stood out in the battery industry again with a huge growth of 630% YoY in the commercial EV sector.

Deepening Global Market Presence with Dual Breakthroughs in Premium Market Positioning and Large-Scale Production

In 2025, as the global new energy industry flourished, shipments of power batteries and energy storage cells soared, with overseas markets becoming the core growth engine. Backed by all-scenario product capabilities, CALB accelerated its strategic layout toward both premium positioning and large-scale development.

The Company’s market share in the passenger vehicle sector reached a new high. Its 5C super-charged battery, which has reached a monthly delivery sale of 20,000+ sets, exclusively supports popular models such as XPeng’s new P7 long-range version, supporting Xpeng further enhance its market competitiveness with a record-breaking driving mileage of 3,961km within 24h. Furthermore, CALB successfully entered the supply chains of international OEMs such as Toyota, Volkswagen, and Hyundai. Simultaneously, the Company deepened strategic partnerships with HUAWEI and Xiaomi, laying the groundwork for mass-scale delivery in 2026.

The commercial vehicle segment also saw explosive growth, with shipments achieving a multiple-fold increase in 2025. With over 468 new vehicle models announced, the Company achieved full-scenario coverage and showed strong momentum as commercial battery shipments surged 630% YoY in early 2026. Overseas, the Company secured major rail transit and bus projects in Europe and won multiple international client awards.

In the energy storage market, CALB achieved dual breakthroughs. Internationally, the Company entered the top-tier supplier lists in South Africa, Latin America, the U.S., and Israel. The next-generation “ZHIJIU” 600Ah+ cell secured mass production nominations. Domestically, partnerships with giants like SPIC (State Power Investment Corporation Limited) and CTG (China Three Gorges Corporation) were strengthened, further advancing the all-category energy layout in energy storage.

Furthermore, the Company has established a forward-looking presence in emerging new energy sectors such as ship, low-altitude economy, and robotics, which represents a core highlight for the capital markets. In the shipping sector, several benchmark projects have already been implemented with large-scale deliveries, providing solid support for stable earnings growth. In the low-altitude sector, powered by core solid-state battery technologies, the Company has successfully commenced mass production of batteries for flying cars and secured exclusive nominations for major eVTOL models, perfectly aligning with the development trend of a trillion-dollar market. In the robotics sector, the Company has completed its product layout based on breakthroughs in all-solid-state battery technology. With batch deliveries set to begin, the Company is preemptively securing its position in the core energy track for humanoid robots, opening up significant growth opportunities for its future performance.

Continuous Technology Leadership and All-Scenario Product Matrix Advancement

In 2025, CALB achieved key breakthroughs in high-performance batteries, solid-state batteries, and advanced manufacturing. Product series such as “UP,” “ZHIYUAN,” “ZHIJIU,” and “Boundless” continue to define industry trends.

Specifically, CALB is leading the way in super-charged and high-power battery technologies. The Company’s 5C super-charged batteries have reached large-scale commercialization, while the 10C super-charged batteries completed design and development in 2025. The 20C high-power batteries developed for HEV/PHEV models have been delivered for mass production to Geely and Dongfeng. For the luxury supercar and racing segments, the Company has completed prototype testing of its 25C high-power batteries, which boast megawatt-level discharge capabilities. Additionally, the advanced R46 cells have reached mass production and are being supplied to top-tier eVTOL customers, securing the No.1 market share in the sector.

Technological upgrades were also synchronized across energy storage and commercial battery sectors. The “ZHIYUAN” series achieved 2C super-charged for heavy-duty trucks and a long lifespan of 10 years or 2 million kilometers, while light commercial EV batteries can support an upgraded mileage of over 350 kilometers. The “ZHIJIU” 588Ah/684Ah cells achieve zero degradation for 3 years and 15,000+ cycles, with an energy density of 450Wh/L.

Significant breakthroughs were made in next-generation battery technologies, specifically in hybrid solid-liquid and solid-state batteries. The 400Wh/kg hybrid solid-liquid battery took the lead in powering new energy commercial vehicles with batch installations. The 450Wh/kg “Boundless” solid-state battery completed its original system prototype verification with industry-leading performance. Meanwhile, the commercialization process in emerging sectors such as low-altitude economy and robotics is accelerating, which is expected to help the Company further expand its global market share. In addition, the Company will continue to be driven by the dual engines of “technological innovation and management innovation,” forging systematic competitiveness for the future by pursuing excellence in both performance and cost management.

“AI + Energy” Strategy: Empowering Industrial Upgrading

Building on technological breakthroughs and guided by the “AI + Energy” strategy, CALB is driven by technological innovation and guided by the “AI + Energy” strategy, adhering to the deep integration of technological innovation and industrial innovation. Propelled by a future-oriented R&D layout, the Company has established a positive feedback loop of “new technology and product development – multi-market application – scaled delivery – refined operations – technological iteration and upgrade”—fully aligning with the current industrial trend of convergence between AI and new energy.

Currently, CALB has established global industrial clusters across China, Europe, and ASEAN, providing a solid foundation for its global business expansion and long-term high-quality development.

As the global energy transition accelerates, global demands are poised for sustained and rapid growth, with emerging application scenarios continuously surfacing. It is anticipated that the Company’s market share and profitability will enter a phase of accelerated expansion, further bolstering its global competitiveness and industry influence.

About CALB

CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.

Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.

HONG KONG, Feb 28, 2026 - (ACN Newswire) – CALB Group Co., Ltd. ("CALB" or "the Company," stock code: 3931.HK) published a positive profit announcement. The Company is expected to record a net profit ranging from approximately RMB2,025 million to RMB2,193 million for the year ended 31 December 2025, representing an increase ranging from approximately 140% to 160% as compared to the net profit of RMB844 million for the same period last year. The expected growth is primarily driven by the continuous high growth of leading-edge technology products across business sectors, including passenger applications and commercial applications as well as ESS cells.

CALB stated that, the Company adheres to a dual-drive strategy focusing on EV and ESS while actively promoting its global expansion. In 2025, all business segments of the Company achieved rapid growth, with both EV and ESS businesses ranking among the global top four, continuously increasing market share, and further solidifying its position as a leading industry player. In the power battery sector, leveraging its exceptional product capabilities, CALB successfully secured orders from multiple leading international automakers and achieved remarkable growth in the high-end passenger vehicle market. Delivery volumes for commercial vehicle power batteries saw dramatic growth, significantly exceeding expectations, and the successful strategic deployment in the commercial vehicle, including heavy trucks, further strengthened the Company's competitive advantage in the market. The ESS cells sector also maintained strong momentum, with cell shipments again achieving multiple-fold growth and securing several benchmark projects in key global markets. In response to accelerating global expansion and rapidly growing customer demand, the Company has been swiftly implementing a new round of capacity planning, providing robust support for its global delivery capabilities. The substantial business expansion and the deepening of the Company's global footprint were the key drivers behind the significant revenue growth.

As a battery expert, CALB has been adhering to the philosophy of technological innovation, maintaining its leading position in both product and technology. During the year, the Company maintained its leadership in cutting-edge battery technology with the “UP” battery. Its 5C super-charged LFP battery successfully supported XPeng's entire new vehicle lineup. The 400Wh/kg semi-solid battery has entered the vehicle trial phase. The all-solid-state battery has achieved superior performance, with the commissioning of a dedicated production line. The high-power LFP R46 cylindrical cell achieved mass production for PHEV models. The 314Ah Gen2 long-cycle ESS cells, with its ultra-long service life of 15,000 cycles, has earned high recognition from global customers. The next-generation "ZHIJIU" of 588Ah and 600Ah+ large ESS cells have successfully entered the mass production stage. Concurrently, the Company has actively been exploring emerging markets. Leveraging its technological platform, CALB has achieved mass production of its high energy density, high-safety high-nickel cylindrical battery for leading eVTOL models, while simultaneously expanding the application of its all-solid-state battery into the robotics and eVTOL sectors.With a global footprint and a steadfast commitment to innovation-led growth, CALB has built an all-scenario business layout, injecting strong momentum for sustained future profit growth.

About CALB

CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.

Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.