The Group’s new energy batteries businesses are mainly research and development (“R&D”), production and sales of next-generation battery products such as Li-ion batteries, hydrogen fuel cells, sodium-ion batteries and solid-state batteries.

Li-ion batteries
The Group primarily applies its Li-ion batteries in the ESS sector and motive battery sector. The ESS sector mainly takes the product supply, project design and construction for ESS battery cells as development direction, which possesses EPC general contracting and service delivery capabilities. Within the ESS application fields including power side, grid side, and user side, the Group offers system solutions for various technologies. The motive battery sector mainly focuses on application scenarios such as light electric vehicles, low-speed electric vehicles and special industrial vehicles, providing diversified energy solutions to downstream partners.

Hydrogen fuel cells
The Group actively responded to the national call and dedicated itself to establish closed-loop application scenarios of the hydrogen energy industry and accelerate the realization of the “Dual Carbon” targets. Tianneng has mastered key technologies such as system, stacks, bipolar plates, membrane electrodes and key materials, and introduced new innovations in technology R&D. Throughout 2024, the Group applied for 50 patents, including 30 patents for inventions and participated in the formulation of 7 industry standards, achieving prominent technological results. Membrane electrode products have been successfully applied to scenarios such as construction machinery and power stations, marking a significant step towards the industrialization of core components following system products. Two self-developed hydrogen fuel battery systems and one graphite plate stack are ready for vehicle installation. In 2024, the Group’s hydrogen fuel battery system was successfully delivered to the city bus and loader clients in Changxing County, Zhejiang Province and Shuyang City, Jiangsu Province and other places, making a positive contribution to local zero-carbon transportation and urban carbon reduction.

Sodium-ion batteries
Tianneng has demonstrated technological innovations and industrial breakthroughs in the field of sodium-ion batteries. By targeting the small power and ESS sectors, the Group successfully developed a high-performance layered sodium oxide soft pack battery. Furthermore, Tianneng also successfully launched the first generation of polyanionic sodium ESS cells with high energy density and a laboratory-tested cycle life of more than 10,000 times, enriching Tianneng’s product reserve in the ESS sector and providing the market with new options.

Solid-state battery
The Group has successfully designed and prepared two solid-state battery cells products which have passed the safety performance tests such as penetration and overcharging, and their performance is at an industry-leading level. This battery has advantages like long lifespan, fast charging speed and high safety, and can be used in high-speed electric motorcycles and low-altitude aircraft. In 2024, the Group launched solid-state battery products suitable for high-performance electric motorcycles, which utilize a self-developed solidification technology and combine various types of composite anode and cathode materials for the batteries to achieve high energy density and stable circulation. In addition, the Group is actively advancing the commercialization of solid-state battery applications in emerging fields such as inorganic machines and robotics through customised solutions and collaborative development models to achieve order breakthroughs.