China's Tianneng Power H1 revenue, profit fall sharply amid trading business weakness

Tianneng Power International

28/08/2026 14:44

Overview
China battery maker's H1 revenue fell yr/yr
Net income attributable to owners dropped sharply from prior year

Outlook
China targets new-type energy-storage capacity of more than 180 mln kW by 2027, implying RMB250 bln in direct investment

Result Drivers
TRADING BUSINESS RESET – Revenue fell 6.24% to RMB22.683 bln, mainly due to a proactive reduction in trading-business revenue, which dropped 96.28%
 
BATTERY MARGIN PRESSURE – Gross profit fell 8.70% as margins declined in low-speed power, industrial and Li-ion batteries
 
LOWER GOVERNMENT SUBSIDIES – Other income fell 39.93% to RMB534 mln, mainly due to lower government subsidies

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 22.68 bln
 
H1 Net Income Attributable
 
RMB 284.2 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Tianneng Power International Limited is HK$8.50, about 87% above its August 28 closing price of HK$4.55
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago

Reuters Recommended Reads
Aug 26 - Chinese battery maker Chaowei Power's H1 revenue falls, profit drops
Aug 26 - Hong Kong's Leoch half-year revenue falls 18%
Aug 27 - China's Conch Venture H1 profit falls despite higher revenue on lithium cost pressure

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)