Eve Energy Reports Significant Profit Growth and Expansion Plans
Eve Energy anticipates a profit increase of 25-35% for Q1, driven by strategic procurement and supply chain management. The company also plans new energy storage battery plants in Jiangsu and Fujian with estimated investments of CNY11 billion.
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Eve Energy [SHE: 300014] projects a net profit rise of 25% to 35%, estimating between CNY1.4 billion and CNY1.5 billion for Q1 ending March 31. Shares increased by 6% to CNY64.33 (USD9.38) following the announcement.
The company aims to establish battery plants in Jiangsu and Fujian with capacities of 50 and 60 gigawatt-hours, involving investments of approximately CNY5 billion and CNY6 billion, respectively. Additionally, Eve Energy plans a joint venture with Fujian Longking with a registered capital of CNY900 million, alongside a guarantee of EUR42 million for its subsidiary in Hungary. These investments could enhance production capacity and competitiveness in the energy storage sector.
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