When was the company established?

The company was founded in 1986 in Meishan Town, Changxing County, Huzhou City, Zhejiang Province, China.

When was the company listed?

In 2007, Tianneng Power was listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) as the “First mainland enterprise of power battery”，the stock code is 0819.

Who is the company's external auditor?

Deloitte Touche Tohmatsu Certified Public Accountants

What is the main business?

Tianneng Battery Group Co., Ltd., which has become a large high-tech energy group focusing on the manufacturing and provision of services of environmentally friendly power batteries for electric vehicles, while offering integrated power storage ancillary services, and integrating the R&D, production and sale of lithium batteries for new energy vehicles, start-and-stop batteries for vehicles and wind power and solar power storage batteries; the recycling and cyclic utilization of waste batteries; the construction of smart micro-grids in cities; as well as the building of green and smart industrial parks.

The company's battery products are mainly used in electric bicycles and other electric vehicles, so what is the electric bicycle and which is the main types of electric vehicles used by the company?

Electric bicycles refer to the use of batteries as auxiliary energy on the basis of ordinary bicycles, and the installation of motor, controller, battery, steering handles and other control components and display instrumentation system of mechatronics personal transport

Electric vehicles also have the following categories:

Electric tricycle: The electric tricycle is a three-wheeled vehicle that is powered by a battery and driven by a motor.

Micro-electric vehicles: not based on the traditional car, but more developed from the prototype of golf carts. Since there are no standards for such models in China at present, most domestic manufacturers refer to the standard design of the European Union, Japan and other countries, that is, to meet the requirements of small body size, light weight and low top speed.

What is the market application of electric bicycles?

According to the figures of the National Bureau of Statistics, the number of domestic electric bicycles increased by 32.76 million in 2018, a year-on-year increase of 5.83%. It can be seen that the electric bicycle industry has entered a mature stage, and there is also a trend of consumption upgrading, which shows that consumers are concerned about electric bicycles. Demand is stable and sustainable. It is expected that the first-class electric bicycle market will maintain a relatively stable growth trend in the future.

In 2018, the net number of electric bicycles in China was 250 million, a year-on-year increase of 6.38%. We know that each electric bicycle needs to be replaced once in about 1-2 years, so the market demand for replacement of electric bicycle batteries is still huge and grows steadily.