Power New Energy reported a net loss of 1.097 billion yuan for the fiscal year 2024

Power New Energy released its 2024 annual performance preliminary report, showing a total operating revenue of 1.037 billion yuan during the reporting period, a year-on-year decrease of 11.48%, and a net loss attributable to the parent company's owners of 1.097 billion yuan. The sales volume of lithium battery ternary sector products increased significantly, with the sales volume of sodium battery positive precursor products increasing by over 300% year-on-year. However, due to the decline in raw material prices and intensified market competition, the average shipment price of products decreased year-on-year, leading to a decline in the company's revenue indicators