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Gotion High-tech’s operating profit up 391% in 2023, nearly RMB 2.8 billion invested in R&D for the year

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HEFEI, China, April 20, 2024 /PRNewswire/ — On the evening of 19 April, Gotion High-tech (002074) released its 2023 annual report. The company achieved operating revenue of RMB 31.605 billion, an increase of 37.11% YoY; operating profit of RMB 975 million, an increase of 390.92% YoY; and net profit attributable to the owner of the listed company of RMB 939 million, an increase of 201.28% YoY. The company’s net cash flows from operating activities was RMB 2.419 billion, up 201.86% YoY.

On the same day, Gotion High-tech also released its 2024 quarterly report. The company achieved revenue of RMB 7.508 billion, a YoY increase of 4.61%, and net profit attributable to the owner of the listed company after deducting non-recurring profits and losses increased by 195.26% YoY.

The report shows that Gotion High-tech’s product delivery exceeded 40GWh in 2023, with a YoY growth of more than 40%, and sales revenue including tax increased by more than 50% YoY under the situation of continuous decline in battery prices. Power battery sales revenue of RMB 23.051 billion, a YoY growth of 24.72%. Energy storage business revenue was RMB 6.932 billion, up 97.61% YoY, with the revenue share rising to 21.93%.

Gotion High-tech adheres to innovation drive, increases R&D investment, and accelerates product technology iteration. In 2023, the company’s R&D investment reached RMB 2.768 billion, a YoY increase of 14.57%. The company’s Unified Cell, 4695 cylinder cell, semi-solid punch cell and third-generation battery cell products such as L300, M600 and N300 have been recognized by the market for their excellent performance in terms of safety, energy density, power performance and service life. Among them, Gotion has been designated by Volkswagen Unified Cell globally; the energy density of the in-house developed Astroinno battery pack reaches 190Wh/kg.

In addition, Gotion High-tech continues to deepen the strategic layout of globalization. With four Pack plants in Germany, Indonesia, Thailand and Silicon Valley of the U.S. launching their products, and production bases such as in Vietnam, Chicago of the U.S., Michigan of the U.S., Slovakia, Argentina, and Indonesia progressing step by step, Gotion High-tech initially formed the layout of ten overseas bases covering materials, cells, and Pack, and realized localization of production and R&D. In 2023, Gotion achieved overseas revenue of RMB 6.428 billion, a YoY growth of 115.69%.

View original content:https://www.prnewswire.co.uk/news-releases/gotion-high-techs-operating-profit-up-391-in-2023–nearly-rmb-2-8-billion-invested-in-rd-for-the-year-302122659.html

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Genome and Chilli Partners join forces to revolutionize iGaming affiliate payouts

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Leading the charge in the convergence of financial technology and iGaming, Genome, a cutting-edge electronic money institution, is thrilled to announce its strategic partnership with Chilli Partners, a prominent iGaming affiliate program specializing in casino games.

The collaboration marks a pivotal moment in the iGaming industry, bringing together Genome’s expertise in online financial services and Chilli Partners’ prowess in affiliate marketing. The partnership is set to redefine the landscape of affiliate payouts, offering an array of benefits to both affiliates and the iGaming community at large.

“We are excited to embark on this journey with Chilli Partners. By combining our financial expertise with their influential position in the iGaming affiliate space, we aim to set new standards for efficiency and innovation in affiliate payouts,” – noted Genome’s CEO Daumantas Barauskas.

For one, the partnership offers efficient payouts. Affiliates can now enjoy expedited and secure payouts through Genome’s state-of-the-art financial infrastructure, enhancing their overall experience and satisfaction.

It also provides global reach for Chilli Partners, as it can extend its reach to affiliates worldwide with Genome’s international payment capabilities. This allows Chilli Partners to foster a more diverse and expansive network.

The partnership streamlines financial workflows, ensuring seamless transactions and reducing administrative overhead for Chilli Partners, allowing them to focus on delivering top-notch affiliate services.

Genome is all about innovation in payments and online financial services. This approach brings new possibilities for payment options, providing flexibility and convenience for affiliates participating in the Chilli Partners program.

Lastly, the collaboration prioritizes compliance and risk management, assuring affiliates of secure and compliant transactions in accordance with industry regulations.

“This partnership aligns perfectly with our commitment to providing the best possible experience for our affiliates. Genome’s advanced financial services will play a crucial role in elevating our affiliate program to new heights”, – added Clayton Zammit Cesare, Head of Affiliates at Chilli Partners.

As the iGaming industry continues to evolve, Genome and Chilli Partners stand united in their dedication to driving positive change, innovation, and reliability. The partnership is poised to create a ripple effect, positively impacting the entire iGaming ecosystem.

About Genome

Genome is a leading EMI that provides innovative financial services, including batch payouts, SWIFT, and SEPA transfers. With a focus on efficiency and compliance, Genome empowers businesses across various industries, including iGaming, to streamline financial operations and enhance user experiences.

For more information, please visit https://genome.eu/

About Chilli Partners

Chilli Partners is a prominent iGaming affiliate program specializing in casino games. With a commitment to excellence, Chilli Partners connects affiliates with top-tier iGaming brands, offering a lucrative partnership that includes competitive commission structures and tailored support.

For more information, please visit https://chillipartners.com/

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Trina Storage Recognized as Tier 1 Energy Storage Manufacturer by BNEF for Second Consecutive Quarter

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MUNICH, May 3, 2024 /PRNewswire/ — Trina Storage, the leading global energy storage product & solution provider, has once again secured its position as a Tier 1 energy storage manufacturer for the second quarter of 2024, according to the latest assessment by BloombergNEF (BNEF). This prestigious recognition comes on the heels of Trina Storage’s outstanding performance in the first quarter of 2024, reaffirming its commitment to excellence and innovation in the industry.

Trina Storage’s continued dedication to research and development has propelled its success in the energy storage market. Trina Storage possesses comprehensive in-house research & development capabilities, and has successively launched 280Ah, 306Ah and 314Ah battery cells. Through optimizations such as increased cycles, intrinsic safety enhancements, and enhanced energy density, Trina Storage has achieved cost reductions and performance improvements in energy storage systems, establishing a competitive advantage in safety and efficiency.

Furthermore, Trina Storage’s expertise extends beyond battery manufacturing to encompass comprehensive energy storage system integration capabilities. By seamlessly integrating cutting-edge technologies and in-house storage products into customizable energy storage solutions, Trina Storage ensures customers benefit from optimal performance and reliability across various applications and use-cases.

In addition to technical prowess, Trina Storage boasts exceptional financial capabilities, as evidenced by its recognition in DNV-certified Due Diligence reports and inclusion among the Top 5 bankable energy storage providers by BNEF in 2023. These accolades underscore Trina Storage’s robust financial position, bolstering investor confidence and facilitating strategic partnerships to drive continued growth.

“We are honored by BNEF’s recognition of Trina Storage as a Tier 1 energy storage manufacturer for the second consecutive quarter,” said Helena Li, Executive President at Trina Solar. “This achievement reflects our unwavering commitment to excellence in every aspect of our operations, from research and development to manufacturing, integration, testing and financial management. We remain dedicated to advancing the global energy transition with innovative, reliable, and sustainable energy storage solutions.”

Photo – https://mma.prnewswire.com/media/2404094/5MWh_Elementa_2.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/trina-storage-recognized-as-tier-1-energy-storage-manufacturer-by-bnef-for-second-consecutive-quarter-302135476.html

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Lunar Poised for Nationwide Rollout in Sweden After Securing €24.1 Million in Funding

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Danish digital bank Lunar has successfully raised €24.1 million in funding to accelerate the expansion of its digital banking services across the Nordic region.

The latest funding round, led by significant existing investors, supplements the previous €26.8 million financing round closed by the Copenhagen-based challenger bank in February. This recent capital injection brings Lunar’s total funding secured this year to €50.9 million.

According to founder and CEO Ken Villum Klausen, these successive funding rounds ensure sufficient capitalization for Lunar’s ongoing growth and expansion plans. The bank intends to utilize the funds to enhance its basic banking services and transition into a full-service bank, catering to both private customers and businesses in Sweden.

Lunar had initially introduced savings accounts and peer-to-peer loans to the Swedish market in 2021, marking its entry into the region. Klausen confirms that the bank’s expansion initiatives are progressing as planned, with a comprehensive rollout across the region receiving top priority.

Additionally, Lunar continues to develop its banking services unit, which debuted in the Nordics in August last year. This unit extends Lunar’s banking and payments infrastructure to external partners through an API, facilitating collaborations with entities such as Swedish paytech Trustly.

Source: fintechfutures.com

The post Lunar Poised for Nationwide Rollout in Sweden After Securing €24.1 Million in Funding appeared first on HIPTHER Alerts.

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