Sisheng Energy will start production of power battery in 2018

The announcement shows that the funds raised in this stock issue are mainly used to invest in the power battery Industrial Park project in Changde City, Hunan Province. Among them, 15.5 million yuan was used for the high-safety and high-energy density battery Changde project, and another 11 million yuan was used for the fast-charging battery Changde project. The rest was used as the Changde project to supplement the working capital, and the fund use was related to the main business.

Sisheng Energy said that the stock issuance will expand the company's capital scale, enhance the company's profitability and risk resistance, further strengthen the company's competitiveness and promote the company's sustainable development.

It is reported that Sisheng Energy is mainly engaged in R&D, design, production and sales of lithium-ion batteries and lithium-ion batteries, mainly engaged in batteries, batteries, mobile power supplies, digital products, etc., with product sales as the main source of income, March 2015 On the 13th, it was listed on the New Third Board. In 2017, the company achieved operating income of 127 million yuan, a year-on-year increase of 47.6%; net profit attributable to listed company shareholders was 10.845 million yuan, an increase of 34.8%.

Sisheng Energy said that the sales revenue of the company's battery products in 2017 increased by 11.6235 million yuan compared with the previous period, an increase of 16.09%; the sales income of battery products increased by 3.363 million yuan compared with the previous period, an increase of 26.91% over the same period of last year, mainly due to the new company added in the current period. Zhejiang Dejing Electronic Technology Co., Ltd. and Huizhou Derui Technology Co., Ltd. and other major customers, sales increased; due to the short battery production cycle, the company increased sales of battery products to expand sales revenue scale.

At the same time, the company will start the production of power batteries in 2018, with a planned production capacity of 1 million Amh/day, the source of funds is the funds raised from the funds, bank loans and other financial institutions. The profits from the company's operations will also be invested in the expansion. After expanding production scale and fully releasing production capacity, the company's gross profit margin will further increase.

It is worth mentioning that the company achieved operating income of 31.815 million yuan in the first quarter of 2018, an increase of 92.5% year-on-year; net profit attributable to listed company shareholders was 2.398 million yuan, an increase of 497%.

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