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.

HONG KONG, Apr 8, 2026 - (ACN Newswire) - Sigenergy Technology Co., Ltd. (“Sigenergy” or the “Company”, Stock Code: 06656.HK), a phenomenal "fast-track dark horse" in the global AI+ energy storage sector, today officially announced the launch of its Initial Public Offering (IPO). The Hong Kong Public Offering commences on Wednesday, April 8, 2026, and is expected to close at 12:00 noon on Monday, April 13, 2026. Trading of the Company’s H shares on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) is expected to begin on Thursday, April 16, 2026.

According to the Global Offering documents, Sigenergy (06656.HK) plans to offer a total of 13,573,900 H Shares (subject to the Over-allotment Option). The offering comprises a Hong Kong Public Offering of 10% and an International Offering of 90% of the total offer shares, with an additional Over-allotment Option of 15%. The offer price is set at HK$324.20 per H Share, with a board lot size of 100 H Shares.

Sigenergy’s IPO is underpinned by a powerhouse ensemble of world-class capital, featuring a prestigious cornerstone lineup of 19 investors. This A-list roster includes Temasek Holdings, UBS Asset Management (Hong Kong), Goldman Sachs Asset Management, Hillhouse Investment, BNP Paribas Asset Management, Barings, ORIX Group, CPE, Perseverance Asset Management, Greenwoods Asset Management, Boyu Capital, Fullgoal Fund, China Pacific Insurance (Group), and AXA. This diverse group of top-tier global sovereign wealth funds, international asset managers, leading private equity firms, and major insurance giants underscores the profound confidence global investors have in Sigenergy’s leadership within the AI-native energy storage sector, its superior product capabilities, and its highly certain growth trajectory.

As of December 31, 2025, the Company’s revenue skyrocketed from RMB 58 million in 2023 to RMB 9 billion in 2025, a phenomenal increase of over 150 times that marks a landmark growth trajectory in the industry. Meanwhile, Sigenergy’s profitability has seen significant improvement, achieving a turnaround to profit in 2024. The gross margin climbed steadily from 31.3% in 2023 to 50.1% in 2025. With an adjusted net margin reaching 35.9% in 2025, both core indicators rank among the highest in the global distributed energy storage sector. Sigenergy is poised to become the youngest Chinese enterprise to achieve the fastest listing on the HKEX.

Sigenergy focuses on the integrated innovation of "AI + New Energy," building a systematic competitive advantage centered on its "AI in All" strategy, which deeply integrates hardware with intelligent technology. The Company's flagship product, SigenStor, is the world's first "5-in-1" integrated solar-storage-charging system, redefining distributed energy product standards through its ultra-integrated architecture. The Company has established an all-scenario product matrix covering residential, commercial and industrial (C&I), and utility-scale power station applications. Furthermore, Sigenergy deeply integrates AI capabilities across the entire value chain - from R&D and smart manufacturing to system operations -  creating a truly "thinking and evolving" smart energy ecosystem.

Leveraging its international development strategy, Sigenergy has secured leading positions in several core markets. In 2024, the Company ranked first globally in the stackable distributed all-in-one energy storage segment with a 28.6% market share. It also holds the top market share in Australia, Ireland, and South Africa; notably, it has remained at the top of the Australian market for 11 consecutive months in 2025. To date, the Company has built a sales network covering 85 countries and established strategic partnerships with 172 industry-leading distributors.

To support the rapid expansion of its global business, Sigenergy has strategically established three production bases in the Lingang Special Area and Jinqiao in Shanghai, as well as in Nantong, Jiangsu. The Nantong Smart Energy Center, representing an investment of approximately RMB 500 million, achieves significant improvements in production efficiency and process quality by deeply integrating AI technology into the manufacturing system. As of the end of 2025, the Company's annual design capacity for inverters approached 360,000 units, while the annual design capacity for energy storage batteries exceeded 5.6 gigawatt-hours (GWh).

The net proceeds from this IPO will be primarily used for the research and development of next-generation AI energy systems, the expansion of the global sales network and overseas branding, and for general working capital. The Global Offering is jointly led by a prestigious group of investment banks. CITIC Securities and BNP Paribas are acting as the Joint Sponsors, Overall Coordinators, and Joint Global Coordinators. CICC serves as the Other Overall Coordinator, Joint Global Coordinator, Joint Bookrunner, and Joint Lead Manager. Together, these top-tier institutions are safeguarding Sigenergy’s debut in the capital markets.

Media Inquiries:

EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED

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Email: project_alps.list@everbloom.com.cn

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, Apr 1, 2026 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) will stage four flagship technology fairs this April, including InnoEX, jointly organised by the Innovation, Technology and Industry Bureau (ITIB) of the HKSAR Government and the Hong Kong Trade Development Council (HKTDC), Hong Kong Electronics Fair (Spring Edition) (EFSE), Hong Kong International Lighting Fair (Spring Edition) (LFSE) and Smart Lighting Expo (SLE), all at the Hong Kong Convention and Exhibition Centre. The four major technology fairs bring together over 3,700 exhibitors from 28 countries and regions.

InnoEX and the EFSE will be held concurrently from 13 to 16 April, showcasing a wide spectrum of innovation and technology as well as industry applications. The fairs will feature global innovation and technology achievements, cutting-edge electronic products and advanced technology solutions, driving breakthroughs across multiple sectors and offering businesses the latest market developments and collaboration opportunities. The LFSE and the SLE will take place from 20 to 23 April (Monday to Thursday), presenting the latest smart lighting solutions and innovative products. The four fairs are open to industry, investors, trade buyers and users from various sectors, including SMEs, for sourcing and networking opportunities.

Jenny Koo, Deputy Executive Director of the HKTDC, said, “As we enter the peak exhibition season in April, the HKTDC presents four major spring technology fairs, bringing together more than 3,700 exhibitors from 28 countries and regions, showcasing Hong Kong’s strengths as an international exhibition and convention hub. Proactively aligning with the National 15th Five-Year Plan and supporting the I&T policy outlined in the government’s latest Budget, both InnoEX and the EFSE will showcase AI-driven frontier technologies and market-ready applications, as well as a wide array of advanced technologies and cutting-edge electronic products, supporting Hong Kong’s development into an international I&T hub. Together with the LFSE and the SLE, these events present advanced technologies and cutting-edge products, fostering business networking and cross-sector collaboration, and continuously leverage Hong Kong’s unique advantage as a platform for ‘bringing in’ and ‘going global’.”

RoboPark brings together leading robotics companies to foster technology exchange and support global expansion

This year’s InnoEX, themed “Innovate • Automate • Elevate”, covers five key areas: AI+, Robotics, the Low-altitude Economy, Property Technology and Retail Technology. A major highlight is “RoboPark”, which makes its debut across both InnoEX and the EFSE and brings together technology companies from Hong Kong, Chinese Mainland and overseas. The zone showcases more than 100 robots across a wide range of application scenarios, covering “Commercial & Industrial”, “Health & Living”, as well as “Entertainment & Social”.

RoboPark features four of the world’s top five best-selling humanoid robot manufacturers in 2025[1], namely AgiBot, EngineAI, UBTECH and Unitree. Other exhibitors include DEEP Robotics from “Hangzhou’s Six Little Dragons”, four additional companies from “Shenzhen’s Eight Great Guardians of Embodied Intelligence” including AI² Robotics, Digit Robotics, LimX Dynamic and PaXini, together with Hong Kong start-ups Rice Robotics and SOTA Robotics. Overseas exhibitors from the United Kingdom, Singapore and more will also participate. Over the four-day exhibition period, some 40 events will be held at RoboPark, including technology demonstrations, application sharing sessions and networking platforms, helping enterprises expand into overseas markets and explore new opportunities.

This year’s InnoEX further expands its global reach, showcasing exhibitors from 21 countries and regions, including Hong Kong, Chinese Mainland, Macao, Australia, Austria, Canada, France, Germany, Hungary, India, Israel, Japan, Kazakhstan, Malaysia, the Netherlands, the Philippines, Poland, Singapore, Sri Lanka, Thailand, the United Kingdom and the United States. The Chinese mainland reinforces its presence with 17 provinces and cities, including Beijing, Shanghai, Guangzhou and Shenzhen, collectively forming 18 pavilions. These include delegations such as Zhongguancun from Beijing and Xi’an Jiaotong University, which are leveraging Hong Kong as a high-value international platform to showcase the latest technological R&D achievements and expand into overseas markets. In addition, leading Chinese Mainland technology giants, including Huawei International, China Mobile Hong Kong, iFLYTEK, Tencent Cloud International and Lenovo (Hong Kong) will also participate.

The exhibition brings together R&D achievements and innovative solutions from the government, industry, academia and research sectors. The Digital Policy Office of the HKSAR Government will once again set up a large-scale “Smart Hong Kong Pavilion”, which will showcase over 100 I&T solutions from over 20 government departments and public organisations as well as award-winning entries by local I&T sector and students from various I&T competitions. The Pavilion this year will be themed “AI+ Hong Kong” and focus on artificial intelligence (AI) application across different domains in Hong Kong, establishing eight exhibit areas namely, “AI+ Public Services”, “AI+ Medical Innovations”, “AI+ Everyday Experience”, “AI+ Robotics Innovations”, “AI+ Mobility Revolution”, “AI+ Safety and Security”, “AI+ Infrastructure Development”, and “AI+ Low-altitude Economy”.

InnoEX will, for the first time, co-organise the “Low-Altitude Economy Conference” with the Working Group on Developing the Low-Altitude Economy, bringing together industry experts to analyse policy trends and market potential, and to explore application scenarios and collaboration opportunities in Hong Kong. A dedicated Low-Altitude Economy Zone will also be set up to showcase applications of low-altitude technologies and facilitate industry collaboration. Participating companies include Transcendence, Harmony SkyTech, Damoda, among others.

All R&D centres established by the Hong Kong SAR Government will participate in InnoEX this year, including the Hong Kong Applied Science and Technology Research Institute (ASTRI) and the Nano and Advanced Materials Institute (NAMI), which officially merged on 1 April, as well as the Logistics and Supply Chain MultiTech R&D Centre (LSCM), the Hong Kong Research Institute of Textiles and Apparel (HKRITA), and the Microelectronics R&D Institute (MRDI). Cyberport, Hong Kong Science and Technology Parks Corporation and the Hong Kong-Shenzhen Innovation and Technology Park will also bring more than 40 start-ups to exhibit.

The ESFE will focus on AI-driven electronic products across three major areas: Smart Home & Solutions, Health Tech & Gadgets and Pet Intelligence. Around 50 new products will make their debut at the fair, offering buyers a one-stop sourcing platform and insights into the latest trends. The “Startup Zone” remains a key highlight, bringing together over 60 start-ups, including representatives from the Hong Kong Internet of Things, Angel Investment Foundation and Shenzhen InnoX Academy, showcasing innovative products and solutions while fostering collaboration and investment opportunities. The fair will also feature an “Immersive Experience Zone”, where local I&T companies will present immersive interactive experiences using VR, AR and XR technologies, such as “VR Dragon Boat Experience” and “Smart Tattoo Trial Machine”.

InnoEX and the ESFE will jointly host more than 100 events, covering the major themes of the two exhibitions and featuring insights from industry experts and leaders. In the area of AI+, a representative from Deloitte will share perspectives on “human-centric AI” and market developments, while an expert from Google will explore the future of smart home experiences. In the field of retail technology, the seminar “Retail 4.0: Reshaping Consumer Experiences”, co-organised by the Hong Kong Retail Management Association, will bring together companies including VISA and Tradelink. In addition, overseas government representatives will also participate and share insights. Among them, the Vice-minister of AI and Digital Development of Kazakhstan will lead a delegation to exhibit and speak, sharing the latest developments and opportunities in the country’s low-altitude economy, and offering participants an international perspective.

Twin lighting fairs gather industry leaders, “Light Lab” makes its debut as the highlight attraction

The Smart Lighting Expo and the Hong Kong International Lighting Fair (Spring Edition) are themed “Go Smart • Live Green” this year, bringing together some 900 exhibitors from Hong Kong, Chinese Mainland and overseas, with new participants from the Netherlands and Vietnam. The two fairs will gather numerous renowned brands and industry leaders, including Foshan Electrical and Lighting, a lighting provider for the China national football team; OPPLE Lighting, a winner of multiple world-class design awards offering healthy lighting solutions; Shanghai Sansi, which supplies over 60% of the display screens in Times Square, New York; and Absen, an LED display provider featured at the NBA All-Stars Games, the FIFA Qatar World Cup and Qatar Doha World Expo, and a Guinness World Record holder. These companies will showcase the latest lighting products and technologies.

This year, the fairs receive strong support from Zhongshan City, which joins as the Special Partner City for both lighting fairs, with the inaugural Zhongshan Guzhen Pavilion and the Zhongshan Henglan Pavilion making their debut at the SLE. Participating exhibitors include “Enterprise Above Designated Size” such as Bairan, Faner, and Zhongqian. The Shanghai Pudong Intelligent Lighting Association also returns to the SLE for the third consecutive year, presenting the “Intelligent Ecosystem & IoT Supply Chain Zone”, showcasing the latest solutions from well-known brands such as BWEETECH, AIDimming, Darkoo, and TYF, alongside a pavilion from Shenzhen. As for the LFSE, exhibitors include the Xiamen Pavilion, and newly participating Changzhou Zouqu District Pavilion and Zhejiang Pavilion.

A brand-new “Light Lab” will debut this year, presenting a range of smart lighting products through scenario-based design and immersive displays. Featured exhibits include products like the solar lantern by Zhongshan Faner Lighting Technology (Lumin Garden), a new series of stadium lighting by Foshan Electrical and Lighting (Lumin Arena), and the hill spotlight series by Shanghai Sansi (Lumin Gallery).

This year, the SLE will introduce a new “Smart Commercial Display and Stage Audio-visual Zone”. Industry leader Absen will showcase its latest low-carbon, energy-saving and large-format displays, which adopt innovative technologies to achieve energy savings of over 50%, supporting the outdoor advertising sector in accelerating its green transformation. The “Hall of Aurora”, a signature highlight of the LFSE, is also not to be missed. A series of events will be held during the fairs, including the “Smart Lighting Solution Forum” at the SLE and the “Asian Lighting Forum” at the LFSE, fostering industry exchange.

The Business of Innovation and Technology Week (BIT Week), driven by the ITIB and the HKTDC, will feature a series of major I&T events. In addition to InnoEX, the EFSE, and the SLE, BIT Week highlights include the 3rd Hong Kong World Youth Science Conference, organised by the Hong Kong Alumni Association of Beijing Universities, the Hong Kong Web3 Festival 2026, which focuses on internet technologies and applications, and the International Academicians Hong Kong Forum as a BIT Week event for the first time, featuring the dual themes of “Artificial Intelligence and Ageing” and “Artificial Intelligence and Education”. In addition, during the exhibition period, the World Internet Conference Asia-Pacific Summit, hosted by the World Internet Conference (WIC) and organised by the HKSAR Government and co-organised by the ITIB, will take place concurrently from 13 to 14 April. Focusing on innovation and technology in the Asia-Pacific region, the summit will promote global digital innovation and technological exchange, create synergy with BIT Week events, and further strengthen Hong Kong’s position as a regional digital hub and an international I&T centre.

[1] Source: Omdia Market Radar: General-purpose Embodied Intelligent Robots, 2026, published on 8 January 2026.

Photo download: https://bit.ly/4cn3oPV

Websites

- InnoEX: innoex.hktdc.com/tc
- Hong Kong Electronics Fair (Spring Edition): hkelectronicsfairse.hktdc.com/tc
- Hong Kong International Lighting Fair (Spring Edition): hklightingfairse.hktdc.com/tc
- Smart Lighting Expo: smartlightingexpo.hktdc.com/tc

Media enquiries

Yuan Tung Financial Relations:
Salina Cheng Tel: (852) 3428 2362 Email: salcheng@yuantung.com.hk
Tiffany Leung Tel: (852) 3428 2361 Email: tleung@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Stanley So Tel: (852) 2584 4049 Email: stanley.hp.so@hktdc.org
Navin Law Tel: (852) 2584 4525 Email: navin.cm.law@hktdc.org
Serena Cheung Tel: (852) 2584 4272 Email: serena.hm.cheung@hktdc.org

About HKTDC

The Hong Kong Trade Development Council (HKTDC) celebrates its 60th anniversary this year. The HKTDC is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in the Chinese Mainland, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels.

Financial Performance: Profit Growth and Improved Operational Efficiency

For the 2025 financial year, the Group recorded a revenue of approximately RMB 39.286 billion, representing a year-on-year decrease of about 17.4% from RMB 47.543 billion in the Last Year. The decline in revenue was primarily due to an across-the-board drop in the prices of coke and major chemical products, as both the ferrous and chemical industry chains faced a market landscape of "strong supply and weak demand." Despite the top-line pressure, the Group demonstrated strong operational resilience through strict cost control. During the Year, the cost of sales and services decreased by 17.8% year-on-year, outpacing the decline in revenue. Consequently, the Group's gross profit reached RMB 3.064 billion, with the gross profit margin expanding by 0.5 percentage points year-on-year to 7.8%. More notably, the profit for the Year achieved a counter-cyclical growth, reaching approximately RMB 135 million, representing a significant increase of about 37.7% from RMB 97.80 million in the Last Year. Net cash generated from operating activities amounted to RMB 3.46 billion, a year-on-year surge of 140%, far exceeding the net profit, which indicates further enhanced risk-resistance capabilities and significantly improved earnings quality.

Basic earnings per share of the Company for the Year stood at RMB 1.3 cents, a substantial year-on-year increase of 160%, reflecting the growth in profit attributable to the owners of the Company and the positive impact of share repurchases. The Board proposed a final dividend of RMB 0.19 cents per share, amounting to a total of approximately RMB 8.13 million, continuing its solid policy of rewarding shareholders.

Business Highlights: Consolidating Coke Leadership, Expanding Operation Management, and Advancing High-End Chemicals & Hydrogen Energy

As the cornerstone of its business, the Group's coke and coking chemicals manufacturing segment demonstrated distinct cost advantages during the price downtrend cycle. By optimizing coal blending and implementing cost reduction and efficiency improvement strategies, the segment's gross profit margin increased from 8.6% in the Last Year to 12.4%. During the Year, the first coke oven of a new coke project with an annual capacity of 1.8 million tons in Pingxiang, Jiangxi Province commenced operation, further consolidating the Group's economies of scale in production capacity.

The operation management and trading businesses have become vital portfolio components for smoothing out cyclical fluctuations. Although revenue from operation management services decreased due to the completion of certain management agreements, the Group secured two new operation management projects in Jilin and Shanxi provinces during the Year, continuing to expand its industry influence. To date, the Group operates 9 management service projects, mainly distributed across Henan, Jilin, Shanxi, Inner Mongolia, Sichuan, and other provinces, managing a total scale of 8.282 million tons and achieving a 6-year compound annual growth rate (CAGR) of 19.8%. Meanwhile, revenue from the trading business grew by 25.6% year-on-year, effectively supplementing the cash flow.

Innovation and high-end transition remain the core driving forces for the Group's development. In the refined chemicals sector, the Group successfully developed and commenced production of the first domestic 5,000 tons/year amino alcohol (2-Amino-2-methyl-1-propanol) project at its Dingzhou Production Base, thereby becoming the world's second-largest producer of amino alcohol. The product has successfully passed the EU REACH registration, paving the way into high-value-added markets such as high-end coatings and pharmaceuticals. Caprolactam, another core product, maintained its solid market position while continuously optimizing costs through technological innovation.

The accelerated rollout of the hydrogen energy business is one of the most promising growth drivers in the financial report. The Group's high-purified hydrogen production volume increased by 25.7% year-on-year, capturing an approximate 21.8% market share in North China. Crucially, the Group initiated the construction of the nation's first 5 tons/day liquid hydrogen demonstration project at the Dingzhou Production Base in Hebei Province. This project has been selected for the national-level list of the first major technological equipment in the energy sector, marking a significant technological breakthrough in the hydrogen storage and transportation segment and laying a solid foundation for future commercial applications.

Financial Strategy: Robust Cash Flows and Shareholder Returns

During the Year, net cash generated from operating activities improved significantly to approximately RMB 3.465 billion, primarily benefiting from the strengthened management of trade receivables. Despite actively managing capital expenditures for future development, the Group maintained ample liquidity. As of the end of the reporting period, the Group's unutilized banking facilities amounted to approximately RMB 8.036 billion, providing strong support for ongoing business expansion.

The Group also actively utilized capital market tools to optimize its capital structure and reward shareholders. During the Year, the Company spent approximately RMB 180 million to repurchase shares and granted share awards to nearly 800 employees under the Share Award Plan, aiming to incentivize the team and share the fruits of corporate development.

Future Outlook: Launching the New Five-Year Plan, Focusing on Green Transition and Industrial Upgrade

In its latest financial report, the Group announced that it has formulated its Seventh Five-Year Development Plan for the period from 2026 to 2030. Looking ahead, China Risun will continue to increase its market share in the coke, refined chemicals, and hydrogen-energy products markets through capacity expansion, mergers and acquisitions, and joint ventures. Particularly in the hydrogen energy sector, the Group will actively seize policy opportunities under China's "15th Five-Year Plan," aiming to become a clean and low-carbon hydrogen energy supplier, while exploring the industrialization of liquid hydrogen and the construction of integrated hydrogen-energy stations.

Faced with a complex market environment in 2025, the Group achieved counter-cyclical profitability improvements relying on its integrated and industrial-park-based operational model, exceptional cost-control capabilities, and forward-looking R&D innovation. Entering the new Five-Year Plan cycle, China Risun will resolutely drive the green transition and high-end upgrade of the coking industry, cultivate refined chemicals into a crucial "second growth curve", continuously expand its global footprint, and deepen technological innovation.  The Group is committed to achieving a higher level of sustainable development and accelerating its green and low-carbon transformation, while continuing to deliver long-term value and superior returns to shareholders.

MACAU, HONG KONG, Mar 31, 2026 - (ACN Newswire) - Asia Pioneer Entertainment Holdings Limited (APE, Stock Code: 8400.HK), a Hong Kong-listed Macau company, together with Cartamundi, a global playing card manufacturing company from Belgium, signed a strategic cooperation agreement at the Macau International Environmental Cooperation Forum & Exhibition (MIECF) on March 27, 2026. The agreement lays the foundation for introducing advanced sustainable production technologies into Macau, marking the first step in BEE(R)’s journey under the banner “Global Brand - Made in Macau.”

The strategic cooperation agreement for the “International Green Production Technology Introduction to Macau” was signed by Herman Ng, Executive Director and CEO of APE, and Jason Pearce, Managing Director of Cartamundi APAC. The signing ceremony was witnessed by Elaine Wong, Acting Chairperson of the Commerce and Investment Promotion Institute (IPIM), Macao SAR; Yang Quanzhou, Deputy Director-General of the Economic Department of the Liaison Office of the Central People’s Government in the Macao SAR; Hoi Chi Leong, Deputy Director of the Environmental Protection Bureau, Macao; Chan Long Seng, Deputy Supervisor of the Macao Chamber of Commerce; alongside Geoffroy de Myttenaere, CFO of Cartamundi Group, and Tony Chan, Executive Director and CFO of APE. This milestone signals a forward-looking partnership that will align international expertise with Macau’s vision for green innovation and economic diversification.

Herman Ng, Executive Director and CEO of APE, commented: “We are proud to welcome Cartamundi into Macau through this cooperation. This collaboration not only offers our customers a more diversified product range, but also brings internationally renowned brands and advanced production technologies to Macau.”

Jason Pearce, Managing Director of Cartamundi APAC, added: “Macau’s unique position as a gateway to Asia makes it the ideal platform for our next steps. Today’s agreement is only the beginning of a journey that will bring global innovation closer to Macau.”

A Prelude to Innovation

While today’s signing focuses on the strategic framework, the partners hinted at further developments to be unveiled in the coming months. This cooperation represents more than a business alliance — it is a commitment to shaping Macau’s role in global sustainability and high-tech industries.

Strategic Cooperation Highlights

- Sustainable Technology, Made in Macau: Agreement sets the stage for sustainable, high-efficiency production.

- Driving Diversification: Integrating High-Tech and Green Innovation under Macau’s “One Center, One Platform, One Base” Vision.

- Gateway to Global Markets: Positions Macau as a hub linking Europe, Portuguese speaking countries, and Asia.

- Commitment to Responsibility: A shared pledge to innovation and a greener future.

About Asia Pioneer Entertainment Holdings Limited

Asia Pioneer Entertainment Holdings Limited (APE), established in 2006 and listed on the Hong Kong Stock Exchange (Stock Code: 8400.HK), is a leading supplier of electronic gaming equipment and table solutions to casinos in Macau and across Asia. Beyond its core gaming business, APE is actively expanding into smart vending solutions in Macau, further strengthening its contribution to the region’s innovation economy.

Website: apemacau.com

About Cartamundi

Cartamundi Asia Pacific is part of Cartamundi Group, a seventh-generation family-owned company headquartered in Belgium. With a global network of 12 close to market manufacturing facilities, design centers, and sales offices across four continents, Cartamundi partners with leading Integrated Resorts worldwide to deliver premium gaming solutions. Its strategy focuses on sustainable, profitable growth, ensuring we preserve our planet and our legacy for generations to come.

Website: cartamundi.com

Media Contact

Victoria Man

Public Relations, Cartamundi & Asia Pioneer Entertainment

Tel/Whatsapp/WeChat: +853 63952307

Left: Herman Ng, Executive Director and CEO of APE

Right: Jason Pearce, Managing Director of Cartamundi APAC

HONG KONG, Mar 31, 2026 - (ACN Newswire) - March 27, Tianneng Power (00819.HK) officially disclosed its full-year 2025 financial results, demonstrating a year of stable business operations and growth in key operating metrics. During the year, Tianneng Power recorded an operating income of approximately RMB 53.799 billion, with gross profit of RMB 5.280 billion, representing a year-on-year increase of 7.48%. Notably, the manufacturing business contributed approximately RMB 47.918 billion, representing a year-on-year increase of 10.01%. Net profit attributable to the parent of approximately RMB1.437 billion, representing a year-on-year increase of 25.77%. And net cash generated from operating activities of approximately RMB 5.191 billion, representing an increase of RMB 4.642 billion compared to the same period last year. (Basic earnings per share were approximately RMB 1.28. The Company proposes to declare a cash dividend of HK 36 cents per ordinary share (the “Share(s)”) held by Shareholders of Tianneng Power. The proposal shall be subject to consideration and approval by Shareholders at the annual general meeting to be held on 8 June 2026.)

In 2025, the global industrial landscape has continued to evolve, with technological transformation, energy transition and shifts to globalization pathways advancing in tandem. During the year, Tianneng Power steadfastly adhered to the vision of “Promoting Resource Recycling and Sustainable Development to Build an Efficient Energy System.” Through practical efforts, the Company maintaining close relationships with its customers and responding to market needs, while continuously refining its products and capability. This has gradually strengthened our operational resilience and enabled us to respond calmly to challenges posed by global economic pressures and intensifying industry competition.

As an industry leader, while solidifying its domestic foundation, Tianneng Power has steadily advanced its international development strategy. The Group has established a business system centered on lead-acid batteries and the coordinated development of multiple technological routes, focusing on the needs of power and energy applications. The Group is committed to offering customers diversified battery products and energy solutions, encompassing research and development (R&D), manufacturing, sales, collection, recycling and related services. The Group focuses on lead-acid battery products, widely used in motive power applications for light electric vehicles and also extend to multiple segments, including backup power supply, automotive batteries and special-purpose industrial motive batteries. The Group has built a stable product base and customer base across these applications. With the transformation of the industry, the Group is advancing R&D and product development in areas including solid-state batteries, sodium-ion batteries, and hydrogen fuel cells. Moreover, Tianneng Power actively expanding recycling and regeneration operations for used lead-acid batteries and used Li-ion batteries, promoting synergistic across the battery recycling value chain.

The Company’s core business is primarily divided into three segments: High-end eco-friendly Batteries, New Energy Batteries, and the Circular Economy.

The High-End Eco-Battery Business serves as the Group’s cornerstone for stable operations, consistently playing a crucial “ballast” role amidst a complex and changing market environment. During the reporting period, the High-End Eco-Battery Business achieved operating revenue of approximately RMB 39.766 billion.

Facing industry adjustments brought about by policy implementations such as the New National Standard, Tianneng Power fully leveraged its product matrix advantages, which cover diverse scenarios, and its mature distribution network comprising over 3,000 distributors covering more than 400,000 retail outlets, thereby maintaining stable overall sales volume. Tianneng Power has leveraged digital tools to empower terminal operations, becoming the first in the industry to establish an integrated online and offline user service platform that connects service scenarios such as maintenance, repair, inspection and evaluation. This helps optimize value distribution across the value chain and enhance channel efficiency and market competitiveness.

While solidifying its leadership in the light electric vehicle market, the Group actively expands into emerging application areas such as backup power, automotive batteries, and special industrial power batteries. It deepens customer collaboration and accelerates internationalization strategy. The Group has leveraged the capacity release of its assembly and production bases in Vietnam as an important foothold to advance localized operations in target markets, including Southeast Asia, Europe and Africa. Through a model combining product adaptation, this combination of product adaptation, channel development, and service exports opens up broader growth space.

Simultaneously, the new energy battery business serves as an important driver of the Group’s growth across diversified technologies and application areas, supporting medium-term expansion while building long-term technology reserves. The Li-ion battery business, covering energy storage and motive power applications, has developed around advanced technologies, diverse application scenarios, and ecosystem synergies, with both business scale and operating performance improving. During the Reporting Period, the Group’s Li-ion battery business recorded operating income of approximately RMB1.541 billion, with its operational quality and efficiency improving significantly compared with the previous year. the Group’s self-developed containerized and cabinet-type ESS products have obtained national standards and overseas export certifications. The energy storage energy management system (“EMS”) has obtained authoritative certifications, including compliance with national standards (e.g., GB/T 42726), CNAS and CMA certifications. It was also honoured with the “Outstanding New Energy Storage Product Award” for large-scale storage EMS by Hangjia Net. Furthermore, the solid-state battery business has steadily advanced in product development and commercialization focusing on specific applications. Products for applications like electric motorcycles, low-altitude aircraft, and robotics have completed sample introduction, and the Group has commenced cooperation with certain downstream customers. The sodium-ion battery business has achieved breakthroughs in product R&D, receiving multiple industry awards including the GGII Sodium Battery Golden Globe Awards (高工钠电金ç'ƒå¥–) for “Annual Market Development Award” and “Sodium Battery Application evelopment Pioneer”, Verification work has commenced in automotive starting and start-stop applications, light motive power, and energy storage applications. The hydrogen fuel cell business, guided by a multi-scenario product strategy, has delivered orders across diverse applications, including buses, heavy-duty trucks, two-wheelers, and power stations. The parallel advancement of multiple technology pathways and progress in market-oriented breakthroughs have injected fresh momentum into the Group’s long-term development.

Alongside battery manufacturing, Tianneng Power regards the circular economy system as a key component for building long-term competitive advantage, continuously promoting synergy and operational efficiency improvements within the circular industry. During the reporting period, the Circular Economy Business achieved external operating revenue of approximately RMB 5.550 billion. Currently, the Group has constructed a mature and standardized recycling and treatment, as well as an efficient, intensive and coordinated circular economy industrial chain. Leveraging the synergies advantages of its full industry chain and a mature cost control system to achieve overall stable operational growth, with annual processing capacity of exceeding one million tonnes., its recycling network was further consolidated, with both processing scale and profitability improving. The Li-ion battery resource recycling business continued to refine its end-to-end technical system, achieving industry-leading recovery rates for critical metals. It currently possesses an annual processing capacity of 73,000 tonnes for waste Li-ion batteries treatment, with stable batch delivery capabilities. The products comply with prevailing industry standards and have passed the supplier qualification systems of multiple key clients, while steadily gaining market recognition. the Group successfully completed its first overseas import of recycled black mass feedstock, further diversifying its raw material sourcing structure and continuously strengthening the stability of its recycling and supply systems. Leveraging scalable processing capabilities and industrial chain synergies, Tianneng has successfully established a national-level circular economy standardization demonstration project and continues to strengthen the strategic supporting role of its circular business in the overall business structure, forming a green industrial loop from battery manufacturing to resource recovery.

Driving Industrial Progress through Technology, Entering a New Stage of High-Quality Development

Looking ahead, Tianneng Power will steadfastly implement a development philosophy centered on strategic guidance, systematically constructing a four-dimensional development system driven by technological innovation, intelligent manufacturing, circular ecosystems, and global market synergy. On the technology front, it will continue advancing multiple technical routes—lead-aid, lithium-ion, solid-state, sodium-ion and hydrogen fuel cell technologies—simultaneously, strengthening independent innovation capabilities from materials to applications. This includes consolidating the market leadership of lead-acid batteries, accelerating lithium battery cost reduction, efficiency improvement, and model innovation, steadily advancing the commercial exploration of solid-state batteries, achieving breakthroughs in key sodium-ion battery technology verification, and refining the multi-scenario application layout for hydrogen fuel cells. Concurrently, the Group will comprehensively advance the construction of smart factories by integrating cutting-edge technologies such as 5G, IoT and AI to enhance operational resilience and energy utilization levels through smart factory construction, injecting strong environmentally friendly green manufacturing system into high-quality development.

While deeply cultivating products and technologies, the Company will continue to strengthen its circular economy system, driving value chain integration and sustainable development. It will leverage the industrial chain synergy advantages of its high-end eco-battery recycling operations while enhancing recycling channels and production processes, and expanding high-value product portfolios to enhance anti-cyclical capabilities. In the Li-ion battery recycling segment, will accelerate channel expansion, technological iteration, and overseas resource deployment, deepen strategic cooperation with industry leaders. By continuously improving resource security capabilities and the level of value mining throughout the lifecycle, The Group is committed to developing into a global green energy solutions leader with an international vision and overall competitiveness.

About Tianneng Power International Limited

Tianneng Power International Limited (the “Company”) and its subsidiaries (collectively, the “Group” or “Tianneng”) were founded in 1986 and listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in 2007 (stock code: 00819.HK). The Company is headquartered in the People’s Republic of China (the “PRC”). Catering to power and energy application needs, the Group has built a business system anchored by lead-acid batteries and characterized by the coordinated development of multiple technology routes. It is committed to providing customers with diversified battery products and energy solutions, encompassing R&D, manufacturing, sales, recycling, regeneration, and related services.

HONG KONG, Mar 30, 2026 - (ACN Newswire) - Sigenergy Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Sigenergy" or the "Company"), a leading global provider of AI-native solar-storage-charging solutions, officially passed its listing hearing with the Hong Kong Stock Exchange (HKEX) today.

A spiring to be the "Apple of the Energy World," Sigenergy has reshaped the energy product ecosystem with "AI + Energy Storage" at its core. By positioning AI as the underlying capability permeating product design, system operation, and user interaction, the Company has achieved a leap from "manufacturing" to an "intelligent system platform." Leveraging disruptive AI product power and a precise global high-end strategy, the Company has demonstrated extraordinary growth momentum: revenue surged over 150-fold within two years, and the gross margin for 2025 exceeded 50%, showcasing a new paradigm of "value-driven growth" to the capital market.

Revenue Grew 150-fold in Two Years; Profitability Ranks Among the Top in the Industry

According to the latest data disclosed in the prospectus, Sigenergy's revenue scale has demonstrated extreme growth momentum. As of December 31, 2025, the Company’s operating revenue soared from RMB 58 million in 2023 to RMB 9 billion in 2025, achieving an astonishing growth of over 150-fold within two years.

While achieving rapid expansion in revenue scale, the Company's profitability has also significantly improved. Its gross margin rose steadily from 31.3% in 2023 to 50.1% in 2025, with an adjusted net margin as high as 35.9% in 2025. Both indicators rank among the top in the global distributed energy storage industry. This reflects that the Company has successfully broken away from the common low-price competition framework of the industry, enhanced its pricing power through technological advantages, and thereby achieved synergistic growth in both scale expansion and profitability levels.

From "5-in-One" to Full-Scenario Coverage: Reshaping the Energy Management Paradigm

Sigenergy's core product, SigenStor, with its pioneering "5-in-one" design concept, has completely restructured the system morphology of distributed energy storage. SigenStor deeply integrates the solar inverter, power conversion system (PCS), battery pack, DC fast charging module, and energy management system (EMS) into a single platform. Through "AI + stackable" technology, users can flexibly expand system capacity as easily as building "LEGO" blocks. This highly integrated and extremely standardized system architecture optimizes the installation experience and provides the foundation for large-scale channel replication and global promotion.

At the system level, the Company has achieved near 0-millisecond on/off-grid switching technology through hardware-software synergy and system control optimization. Compared to traditional backup power solutions, its "seamless switching" characteristic minimizes the impact of grid fluctuations or interruptions on end-user electricity consumption. This ensures the continuous operation of critical loads in residential scenarios and effectively avoids production and operational losses caused by instantaneous power outages in industrial and commercial (C&I) scenarios.

On this basis, the Company has constructed a product portfolio covering residential, C&I, and large-scale utility power plants. In residential and C&I scenarios, the Company adopts modular, highly integrated, and scalable designs, enabling systems with flexible deployment and continuous upgrade capabilities. In utility-scale scenarios, the Company provides long-term value to customers centered on the concepts of "high yield, long-term safety and reliability, and simple O&M."

This multi-scenario layout is built upon platform-based capabilities anchored in a unified technical foundation. Through integrated hardware-software design, a unified data architecture, and control logic, the Company has achieved technical synergy and capability reuse across different products and scenarios. This system enhances R&D efficiency and product iteration speed, providing the underlying support for the Company's global scale replication and long-term profitability.

"AI in All" Constructs a "Growth Flywheel", Driving a Fundamental Leap in Ecological Value

Sigenergy adheres to the "AI in All" strategy, viewing AI as a fundamental capability permeating product design, system operation, and user interaction. At the critical juncture of the global energy transition toward intelligence and systematization, the Company is driving energy management from single-device control toward multi-device synergy and global optimization. In this way, dispersed devices, complex energy flows, and diverse application scenarios are integrated into a highly synergistic whole, empowering the entire energy system with unified dispatching and continuous evolution capabilities.

Based on this strategy, all core products of Sigenergy have pre-allocated computing power, data interfaces, and control capabilities during the architectural design stage. Whether it is the SigenStor residential system, AC EV chargers, or C&I and utility-scale products, all can seamlessly access the AI ecosystem. This means the Company is building not just individual devices, but an AI-centric energy system capable of cross-scenario synergistic operation. The dimension of competition has upgraded from single-product performance to a comprehensive competition of system capabilities, ecological capabilities, and continuous evolution capabilities.

The deeper value of AI capabilities lies in the formation of a "Growth Flywheel." As the number of globally deployed devices increases, while ensuring data security and user rights, the AI system continuously accumulates real-world operational data such as weather, electricity prices, power generation, loads, and user habits. This makes power consumption decisions more precise and system operations more efficient, thereby forming an ever-deepening ecological barrier.

More importantly, this capability has directly translated into commercial value. In overseas high-end markets with dynamic electricity pricing, the AI system can assist users in optimizing power strategies to maximize energy economic benefits. Taking the Swedish market as an example, the system has helped users reduce their average electricity costs by approximately 70%, directly converting AI capabilities into "tangible economic returns" and creating incremental value that traditional products cannot provide. Leveraging its leading AI application capabilities, Sigenergy has achieved a fundamental leap from an "energy equipment manufacturer" to an "AI-centric energy system platform."

Leading Global Market Share; Comprehensive Upgrade of Delivery Capabilities

As of December 31, 2025, the Company has established partnerships with 172 distributors and over 17,600 installers from 85 countries, covering core markets such as Europe, Asia-Pacific, North America, and Africa, and extending to emerging regions like Latin America, Central Asia, and South Asia. The Company has built a relatively sophisticated sales, service, and technical support network globally, laying a solid foundation for rapid localization in high-threshold markets and serving as the driving force for long-term growth.

Against the backdrop of intensified industry competition, Sigenergy persists in a development path that combines high-end positioning with globalization. Through "strategic superiority" via technology—deeply integrating modular design, full-scenario integration, and AI dispatching algorithms—the Company effectively avoids homogenized competition and continuously enhances product added value. The prospectus shows that high-value markets such as Australia and Europe have become core pillars of the Company's business growth, with sales revenue ranking in the top two. In global benchmark markets with stringent requirements for product performance and safety, according to market reports from the Australian energy consultancy SunWiz, Sigenergy ranked first in market share for systems under 1,000kWh in Australia, Ireland, and South Africa in 2025; it also holds leading positions in markets such as the UK, Sweden, and the Benelux region. This series of market performances fully validates the Company's strong brand premium and commercialization capabilities in high-end market segments.

To support global expansion, the Company has constructed three major manufacturing bases centered in Shanghai Lingang, Jinqiao, and Nantong, Jiangsu. Among them, the Nantong Smart Energy Center officially commenced production in the first quarter of 2026, with a total investment of RMB 500 million and a total construction area of 136,000 square meters. With an annual capacity exceeding 300,000 inverters and battery PACKs, it is one of the world's largest single-unit distributed energy storage factories. Through a synergistic system of "advanced manufacturing bases + intelligent industrial systems + deep AI empowerment," the Company has not only achieved the rapid release of large-scale capacity but also built high-consistency and high-reliability global delivery capabilities, forming a critical manufacturing barrier against competitors.

For this Hong Kong listing, the Company intends to use the proceeds for R&D investment, global sales network expansion, and intelligent manufacturing upgrades. Following the successful passing of the hearing, Sigenergy will continue to leverage its "AI-native" technological advantages, driving the industry's transition from traditional equipment competition to a comprehensive transformation defined by AI-driven systems, ecosystems, and long-term value.

For inquiries, please contact:

EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED
Ms. Claire Zhang
Tel: (852)3468 8171
Email: project_alps.list@everbloom.com.cn