China’s Tianneng Power International Ltd said revenue for the first half of 2017 has been boosted by a 26.5% rise in lead battery sales, compared to the year-ago period.
In newly-released interim figures for the period up to 30 June, Tianneng posted revenue of more than CNY10 billion ($1.5b).
The group said its lithium battery business saw sales amounting to a total of CNY455 million ($69.8m)— an increase of 57.5% over the same period last year.
Over the past six months, Tianneng said it had also launched a ternary pouch cell product with an energy density of more than 200Wh/kg.
Meanwhile, the group said its newly-established lithium battery project in Changxing, Zhejiang Province, has started production that will gradually be ramped up to reach a total production capacity of 5.5GWh.
The company also revealed it has increased its manufacturing capacities for industrial, energy storage and start-stop batteries, in a push to expand its portfolio.
Tianneng said it expects to see “increasing profitability” from its battery recycling activities. The company said the overall annual production capacity of its recycling units is set to rise to 400,000 tons under plans to expand facilities— which will see the firm become the country’s “largest recycling and disposal” enterprise for used lead batteries.
Chairman and president Zhang Tianren (pictured) said the group would continue to focus on “quality and efficiency to create solutions for advanced lead battery systems, high-energy lithium battery systems, energy storage and integrated recycling”.