Under the pressure of involution, Ruipulan Jun has delivered impressive results with a significant increase in revenue.

Despite the intense competition and fierce price wars in the entire new energy vehicle and battery market in 2024, with battery prices continually declining, some companies are still delivering impressive results. Their products, orders, and customer structures are constantly improving, and they are expected to be among the first to "reach shore" in the competitive landscape of "survival of the fittest."

On March 26, Ruipu Lanjun announced that its operating revenue for 2024 reached 17.796 billion yuan, a year-on-year increase of 29.4%, setting a historical high; the net loss significantly narrowed to 1.353 billion yuan, a year-on-year reduction of 30.4%, showing a clear improvement in performance.

According to Battery China, Ruipu Lanjun's lithium battery sales are expected to reach 43.71 GWh in 2024, a year-on-year increase of 124.4%.

In terms of product revenue, Ruipulan Jun's revenue from power battery products reached 7.384 billion yuan in 2024, a year-on-year increase of 71.4%; revenue from energy storage battery products reached 7.259 billion yuan.

In 2024, Ruipu Lan Jun's lithium battery sales doubled, mainly due to the company's continuous investment in R&D and product innovation, which received widespread recognition from downstream customers.

According to Battery China, in 2024, Ruipu Lanjun's R&D investment reached 779 million yuan, fully promoting the "WenDing" upgrade of battery cells. The new generation of "WenDing" series battery products has been industrialized.

Among them, the "WenDing" series of lithium iron phosphate battery products have improved energy density to 180-200 Wh/kg, significantly enhancing safety and further consolidating Ruipu Lanjun's competitive advantage in the new energy vehicle and energy storage markets.

In the field of ternary batteries, Ruipu Lanjun has completed the coverage of both super-fast charging and high energy density systems. Among them, the super-fast charging ternary products have been developed with a 6C~8C ultra-fast charging system, achieving an energy density of over 240Wh/kg, and the related products are currently in the customer verification stage; in terms of high energy density, the energy density has surpassed 300Wh/kg, and the company is actively exploring its application potential in emerging fields such as low-altitude aircraft and robotics.

In the field of semi-solid/full-solid batteries, Ruipulan Jun completed the development of its second-generation semi-solid cell in 2024, achieving an energy density of over 310Wh/kg, which has been delivered for testing in vehicles. In the same year, the company also initiated the production of all-solid square cells and successfully became part of the key project "Pioneering Leaders" in Zhejiang Province, and is currently actively exploring the commercialization pathway for all-solid batteries.

Due to the characteristics of manganese iron lithium phosphate batteries, which have high voltage and low cost, and the abundant supply of manganese materials, manganese iron lithium phosphate batteries can achieve higher energy density, lower cost per watt-hour, and better performance in low-temperature environments compared to lithium iron phosphate batteries. In contrast to ternary batteries, they also offer better safety performance, making their advantages clear. Therefore, many companies are currently focusing on this battery technology route.

It is reported that Ruipulan Jun has completed the relevant development work on lithium iron manganese phosphate in 2024, achieving a cell energy density of 210-240 Wh/kg and a cycle life of over 3,000 weeks at room temperature. Samples have been sent for testing to multiple domestic and international customers.

Thanks to its forward-looking R&D layout and strong product capability, Ruipu Lanjun achieved fruitful results in the power and energy storage markets in 2024.

In the field of new energy passenger vehicles, in 2024, Ruipu Lanjun will continue to maintain stable deliveries to multiple domestic and international clients, including SAIC Passenger Cars (Roewe, MG brands), SAIC-GM Wuling (Baojun, Wuling brands), FAW Bestune, Zeekr, Smart, Volvo, and Stellantis.

At the same time, it has also expanded new strategic clients such as Renault EasyJet, and successively secured project designations for new electric vehicle models from Stellantis and leading Indian automakers, as well as hybrid vehicle projects from multiple automakers including Geely (Galaxy brand), Dongfeng Nissan (NISSAN brand), and joint ventures with German and American companies.

In the commercial vehicle and construction machinery business sector, Ruipulanjun has achieved comprehensive coverage and bulk delivery of mainstream market products through its "large battery" strategy and technological advantages.

In the commercial vehicle sector, it has established deep cooperative relationships with companies such as Qiyuan Xindongli, Qingtou Heavy Industry, Sany Group, Xugong Group, Yutong Bus, and Geely Commercial Vehicles. During the reporting period, the number of new models equipped with Ruipu Lanjun power battery systems reached 122, and the company successfully won multiple commercial vehicle projects. Notably, in the field of new energy heavy trucks, the Ruipu Lanjun "BIGBANK" battery system has an energy density exceeding 210Wh/kg, supports a range of over 500km for heavy-duty vehicles, and features 2C fast charging capability.

With its industry-leading technology and market channel capabilities, Ruipu Lanjun New Energy's heavy-duty truck installation volume has performed impressively. Data from the Power Battery Application Association shows that in 2024, Ruipu Lanjun's heavy-duty truck installation volume has surged to third place in the Chinese market.

In the energy storage business sector, Ruipu Lanjun leads the trend of large-capacity systems and long-duration energy storage through its large cell technology. According to Battery China, in 2024, Ruipu Lanjun will empower its entire product matrix of energy storage cells through the "Wending" technology, achieving an ultimate enhancement in the performance, cost reduction, and safety of energy storage cells.

During the reporting period, Ruipulan Jun successfully signed strategic cooperation agreements with enterprises such as Leyitong, Liugong, Hongyang Group, China State Construction Engineering Corporation Sixth Bureau, and Far East Holding. It won the annual procurement demand for energy storage cells from central/state-owned enterprises such as Guoneng Xinkong and China National Petroleum Corporation. Additionally, it signed energy storage orders with overseas clients including Powin and Vena Energy.

According to statistics from the Zhongguancun Energy Storage Industry Technology Alliance, in terms of market performance, Ruipu Lanjun's energy storage battery shipments ranked among the top five globally in 2024, while small energy storage cell shipments ranked second globally.

Currently, the electrification of automobiles and the transformation towards clean energy have become trends. Major Chinese battery companies with advantages in technology, manufacturing, and industrial chains are planning to expand overseas in order to achieve a transformation into international and global enterprises.

It is important to point out that although there are significant opportunities in overseas markets, if a company has not fully considered the implications before going abroad, it may fall into a greater predicament. Whether a company should go abroad should depend on its market positioning. If the main market is domestic, rushing to go abroad may not be wise, as overseas investments are substantial and the risks are high. Currently, overseas markets account for more than 50% of Ruipu Lanjun's lithium battery shipments, with power and energy storage customers spread across major global markets. To meet local industrial support, Ruipu Lanjun's efforts to go abroad have also achieved positive results in 2024.

Currently, Ruipulan Jun has established its European subsidiary in Germany and its North American subsidiary in the United States, completing its business coverage in Europe, North America, and other regions.

In terms of building factories overseas, Ruipulan Jun is accelerating its globalization layout and plans to invest in the construction of a battery plant in Indonesia, leveraging local resource advantages to reduce procurement costs and improve production efficiency.

Leveraging the solid global foundation of Qingshan Industry, combined with its extensive large-scale manufacturing experience, brand effect, and broad布局 in resource allocation, will undoubtedly enhance Ruipu Lanjun's competitive advantage in the global新能源 arena.