Household storage takes the crown, power advances: The "three-pronged" logic behind REPT BATTERO (00666) mid-term report.

The global energy transition is accelerating, and the lithium battery industry is experiencing continuous growth. According to SNE Research data, the global shipment of energy storage batteries reached 461.3 GWh in the first half of 2026, a year-on-year increase of 71%. Among these, residential energy storage is growing the fastest, with shipments rising from 20.9 GWh to 47.7 GWh, an increase of 128% compared to the previous year. In terms of power batteries, the usage of power batteries in global electric vehicles reached 608.5 GWh, marking a 20% year-on-year increase. Against the backdrop of a continuously expanding market, REPT BATTERO (00666) has delivered impressive mid-term results. During the reporting period, the company achieved operating revenue of 14.916 billion yuan (RMB, the same below), representing a year-on-year growth of 57.2%; the total sales volume of lithium batteries was 42.7 GWh, an increase of 31.8% year on year. Profitability has further surged from last year's loss, with profits reaching 778 million yuan during the period, surpassing the total for the entire year of 2025 in just six months. The significant profit increase is backed by a comprehensive improvement in various operational metrics. During the reporting period, the company's gross profit reached 1.98 billion yuan, a year-on-year increase of 138.8%; the gross profit margin rose from 8.7% in the same period last year to 13.3%, a year-on-year increase of 4.6 percentage points, significantly enhancing profitability. This is due to multiple factors, including the emergence of scale effects, cost reduction through technological advancements, and the increasing share of high-value-added products such as residential storage. Meanwhile, the net cash flow from operating activities reached 3.46 billion yuan, a year-on-year increase of approximately 252.7%. The simultaneous improvement in scale, profit, and cash flow marks the company's entry into a positive operational cycle. Among the highlights of this interim report, the most noteworthy is the leap in the companys market position within the energy storage sector. According to SNE Research data, in the first half of 2026, REPT BATTERO ranked sixth globally in energy storage battery shipments, with residential energy storage batteries topping the global list and commercial and industrial storage battery shipments ranking second worldwide. Residential storage is currently the fastest-growing sub-market in the global energy storage sector, with a year-on-year growth of 128%. This indicates that REPT BATTERO not only secured the top position but also occupies the fastest-growing and most resilient core ecological niche within the entire sector. REPT BATTERO's rise to the top rank in residential storage is not coincidental but rather a result of a precise alignment of technological choices and product matrix positioning. Relying on its self-developed Wending technology platform, the company has constructed a complete residential storage product matrix covering high-voltage, low-voltage, and large-capacity batteries. For example, the Wending 392Ah cell achieves an energy efficiency of 95% under 0.5P conditions, with a single cell capacity of 1.25 kWh, offering both high efficiency and platform versatility, capable of meeting multi-level energy storage demands across residential, commercial, and grid-side applications, thus enabling full-scenario penetration from household to power side. In the first half of this year, driven by the rapid expansion of global residential storage demand, REPT BATTEROs energy storage battery shipments reached 27.2 GWh, an increase of 43.9% year on year; revenue from energy storage batteries reached 9.225 billion yuan, a year-on-year increase of 81.5%, accounting for approximately 62% of total revenue. The energy storage segment has undoubtedly become the company's primary growth engine, with the collaborative release of scale effects and brand momentum continuously consolidating the companys leading position in the global energy storage sector. During the reporting period, the companys business matrix, advancing in three lines: energy storage + passenger vehicles + commercial vehicles, has continued to gain momentum, steadily climbing the market position. The power battery business also shows a clear trend of ranking improvement. According to statistics from the China Automotive Power Battery Industry Innovation Alliance, in the first half of 2026, REPT BATTERO ranked sixth among domestic power battery manufacturers in terms of installed capacity, rising two places from eighth place in 2025; it ranked seventh and sixth in installed capacity for pure electric passenger and commercial vehicles, respectively. The interim report indicates that in the first half of this year, the company shipped 15.5 GWh of power batteries, a year-on-year increase of 14.8%, achieving revenue of 5.225 billion yuan, a year-on-year increase of 29.8%. Looking ahead, technological iteration and globalization remain the two main lines of development. In the energy storage sector, the 588Ah ultra-large capacity cell and Powtrix 6.26MWh container storage system are positioned for long-duration storage applications; in the power sector, the 4C ultra-fast charging and fast-charging chemical systems are being steadily advanced, with emerging application scenarios such as low-altitude economy also being explored ahead of time. Meanwhile, leveraging the synergy advantages of the Qingshan Groups industrial chain, the Indonesian manufacturing base has successfully commenced production, while subsidiaries in the UK and Japan are also accelerating their establishment, enhancing the global service network. Amidst the rapid expansion of global energy storage and stable growth of power batteries, REPT BATTERO, equipped with the dual strengths of leading the residential storage market and ranking improvement in power batteries, is poised to embark on a new phase of growth.