Tianneng Power Reports Sharp 67.62% Drop in Interim Net Profit for Its Subsidiary
Stock News
Yesterday
Tianneng Power International Co., Ltd. (00819) has released the interim financial results for its subsidiary, Tianneng Battery Group Co., Ltd. (688819), covering the six-month period ending June 30, 2026.
According to the report, the company achieved revenue of RMB 22.325 billion, reflecting a year-on-year increase of 6.73%. However, net profit attributable to owners of Tianneng Battery Group stood at RMB 281 million, marking a significant decline of 67.62% compared to the same period last year.
The sharp contraction in profitability comes despite the revenue growth, highlighting margin pressures or rising operational costs faced by the battery manufacturer during the reporting period.
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