In recent years, as Chinese domestic brands have made breakthroughs in intelligent and electric vehicle technologies, premiumization has emerged as a core trend in China’s new energy passenger vehicle sector. Among them, Seres Group Co., Ltd. ( SERES ) has taken the lead by launching its premium automotive brand “AITO”, strategically positioning itself in the luxury new energy market.
Leveraging robust product strength, the AITO series models have demonstrated rapid sales growth since their launch, showcasing strong momentum. With outstanding product capabilities and brand positioning, the brand has earned the reputation as China’s “Mercedes & BMW”. On October 13th, SERES successfully passed the Hong Kong Stock Exchange listing hearing, poised to become the first luxury new energy vehicle manufacturer to achieve an “A+H” dual listing on the Hong Kong stock market.
Technology-Driven Foundation + Streamlined Delivery: Building Core Competitive Moat Amid accelerating technological iteration in the luxury new energy vehicle sector and rising consumer expectations for delivery timeliness, SERES has established a dual advantage of “technological barriers + delivery assurance”. This positions it as one of the few automakers in the premium new energy market capable of achieving both scale and high quality simultaneously.
Technologically, SERES has consistently increased R&D investment, building core competitiveness through accumulated technological strength. The Company’s R&D expenses reached RMB5.6 billion in 2024, and RMB2.9 billion in the six months ended June 30, 2025, ranking among the highest among domestic automakers. Its self-developed MF Platform covers the development needs of multi-tier, multi-category, and multi-power-form vehicle models. Meanwhile, through platform-based vehicle manufacturing, it effectively reduces overall vehicle development costs while significantly enhancing development agility and flexibility, providing critical support for expanding profit margins. In the extended-range technology sector, SERES is the first vehicle manufacturer to commercialise mass-produced range extenders. Its latest generation of the SERES super-range extender system boasts a maximum oil-to-electricity conversion rate of 3.65kWh/L, which is the highest level of mass-produced range extenders in the industry. This effectively alleviates user charging anxiety and sets a new technical benchmark for the industry.
Delivery capabilities further solidify its competitive barriers. As new vehicle orders surge exponentially, rapidly scaling delivery capacity becomes a critical test for automakers. Relying on digital manufacturing and supply chain management capabilities, SERES has achieved industry-leading delivery efficiency. Leveraging digital-twin technology, our SERES Super Factory utilises digital technology as a driving force and seamlessly integrates artificial intelligence, big data, the Internet of Things to establish an intelligent manufacturing platform that achieves large-scale, high-quality and agile delivery. In 2024, the annual production volume of the AITO M7 reached approximately 200,000 vehicles, with monthly deliveries exceeding 30,000 vehicles. The production volume of the AITO M9 exceeded 150,000 vehicles within 10 months following its launch in 2024, achieving “rapidly scale upon launch”.
Sales and Earnings Soaring, Launching a New Phase of Profitability Technological accumulation ultimately translates into formidable product competitiveness. By the end of September 2025, cumulative deliveries across the entire AITO series surpassed 800,000 units, setting a new record for delivery speed among China’s luxury new energy brands. Among these, cumulative deliveries of the AITO M9 series exceeded 240,000 units, while the AITO M8, launched in April 2025, surpassed 100,000 units in cumulative deliveries, becoming the sales champion in the RMB500,000 and RMB400,000 price segments respectively.
Financial performance was equally impressive. In 2024, SERES achieved revenue of RMB145.1 billion, representing a year-on-year increase of 305.5%. Concurrently, driven by optimized product mix, the Company’s gross profit margin significantly improved to 23.8% in 2024, up 16.6 percentage points year-on-year, and increased to 26.5% for the six months ended June 30, 2025. This enhanced profitability directly propelled the Company toward a pivotal turning point. In 2024 and for the six months ended June 30, 2025, SERES recorded a net profit attributable to owners of the Company of RMB5.9 billion and RMB2.9 billion, respectively. This achievement positions SERES as the fourth profit-making new energy vehicle company in the world.
From an industry perspective, China’s premium new energy vehicle segment is entering a phase of rapid volume growth. According to Frost & Sullivan, in 2024, the sales volume of premium NEPVs reached 2.6 million units, accounting for 23.4% of the total NEPV market in China. The sales volume is expected to reach 5.7 million units by 2030, with market share rising to 29.8%, representing a compound annual growth rate (CAGR) of 14.0% from 2024 to 2030.
SERES is building long-term competitive barriers through clear brand positioning and leading technological capabilities. Centered on its AITO brand, the Company continues to deepen its intelligent and luxury vehicle strategy, achieving simultaneous growth in market share and profitability. Moving forward, as the Hong Kong listing process advances, SERES will further broaden its access to international capital, accelerate its global expansion, and inject fresh momentum into brand internationalization and long-term value growth.
On 7 November, CNGR Advanced Material Co., Ltd.(CNGR or the Company HKG: 2579), a globally renowned enterprise in new energy materials, officially launched its IPO. The offering is currently underway. If progress proceeds smoothly, the Company will become the second new energy materials enterprise in China to achieve dual listing on the A-share and H-share markets following CATL, highlighting its prominent industry position.
During intraday trading on 7 November, the stock price of CNGR (300919.SZ) surged rapidly, attracting significant investor attention. At the time of publication, the stock price had risen over 5%, reflecting robust market participation.
Achieving Several Breakthroughs with Profound R&D and Innovation Capabilities As a key player in the global new energy materials sector, CNGR has built a comprehensive and diversified product matrix through its vertically integrated business model. Core products encompass nickel-based, cobalt-based, phosphorus-based, sodium-based and other innovative new energy battery materials, along with new energy metal products, fully meeting the diverse needs of downstream industries.
CNGR has always regarded technical R&D as the core driving force of its development. Through years of accumulation, the Company has accumulated extensive technological expertise and industry experience, and established an integrated R&D platform that spans the entire production process and product life cycle from “mineral metallurgy to new energy materials research and mass-production process development, to manufacturing equipment design and optimization, product testing and assessment, and to recycling”, ensuring product quality consistently meets customers’ high standards while effectively controlling costs in the operations, so as to achieve the dual competitive advantages of “high quality” and “high cost-effectiveness”.
Leveraging strong R&D capabilities, CNGR has achieved several industry breakthroughs: pioneered the industry-first ultra-high-nickel pCAM with energy density reaching 230 mAh/g, surpassing traditional ternary batteries by 27.8% to 12.7%, respectively; launched the industry-first 4.55V high voltage cobalt-based pCAM, significantly boosting charging efficiency for LCO batteries in consumer electronics; developed the industry-first low-cost NFPP pCAM for sodium-ion batteries, which serves as a premium alternative to lithium-ion batteries and has been in mass production since 2024, opening a new growth trajectory for the Company.
CNGR’s three industry-first R&D achievements precisely align with the performance upgrade demands of the lithium battery industry while proactively positioning the Company in the sodium-ion battery alternative track. These breakthroughs have not only secured stable core clients and sustained revenue growth but also solidified the Company’s technological influence and industry standing in the global new energy materials sector. With increased R&D investment following its dual A+H share listing, the Company is poised to achieve breakthroughs across multiple frontier sectors, continuously driving industry-wide technological evolution, and unlocking vast market opportunities and growth potential for the Company.
Maintaining Rapid Growth in Performance with Steady Profitability Quality Enhancement Driven by industry growth momentum and intrinsic competitive advantages, CNGR has achieved rapid performance growth. In terms of revenue, from 2022 to 2024, the Company’s revenue increased from RMB30.344 billion to RMB40.223 billion, achieving a CAGR of 15.13% and maintaining a steady growth trend; in the first half of 2025, the revenue reached RMB21.323 billion, nearly 70% of the full-year 2022 revenue, representing a year-on-year increase of 12.42% as compared to RMB18.967 billion in the first half of 2024, demonstrating a steady acceleration in growth momentum and highlighting the continuity and explosive potential of business expansion. This growth is not a short-term pulse but sustainable expansion driven by capacity release, customer acquisition and industry demand, exhibiting strong certainty.
In terms of profitability, the Company’s net profits for 2022-2024 and the first half of 2025 amounted to RMB1.539 billion, RMB2.101 billion, RMB1.788 billion, and RMB0.706 billion respectively, maintaining a relatively high profitability level within the industry. Notably, the net profit recorded a decline in 2024 as compared to 2023, which was primarily due to temporary price competition in the industry and short-term fluctuations in raw material prices, but still exceeded that in 2022, demonstrating strong counter-cyclical resilience.
In terms of profit quality, the Company’s EBITDA margin (non-IFRS measures) for 2022-2024 and the first half of 2025 stood at 8.8%, 11.4%, 10.6% and 10.7%, respectively, maintaining an overall range of 8%-11%, outperforming industry averages and underscoring the Company’s strengths in cost control and product pricing.
In general, as a global leader in new energy materials sector, CNGR possesses a clear growth logic and vast development potential by leveraging its technological R&D strengths, full industrial chain coverage and premium customer resources. This listing in Hong Kong will inject new momentum into its future R&D investments, capacity expansion and global footprint, enabling it to seize more opportunities amid the rapid development of the new energy industry, thereby achieving higher-quality growth with promising future growth potential.
CNGR Advanced Material Co., Ltd. (02579.HK, 300919.SZ) https://cngrgf.com.cn
Japanese tech innovator Serendix Inc. and Australian advisory firm Planum Partners have signed a strategic Memorandum of Understanding (MoU) to introduce cutting-edge 3D printed housing technology to Australia, beginning with a demonstration project in Queensland.
The signing took place at the Australia Pavilion at World Expo 2025 in Osaka, witnessed by Tak Adachi, Queensland’s Senior Trade and Investment Commissioner for North Asia.
The partnership was facilitated by Trade and Investment Queensland (TIQ).
Tak Adachi, Senior Trade and Investment Commissioner, North Asia said the partnership showcases Queensland’s commitment to embracing transformative technologies.
“This alliance is a bold step toward delivering faster, more affordable homes—especially for our regional communities—and it shows the world that Queensland is open for smart, scalable investment,” said Mr Adachi.
“3D printed homes can be built in under 24 hours, dramatically reducing construction time and costs.
“By aligning Japan’s innovation in 3D printing with Queensland’s housing goals, we’re opening doors to scalable solutions and long-term international collaboration,” said Mr Adachi.
The collaboration aims to revolutionise the construction industry by delivering affordable, sustainable, and rapidly deployable housing solutions using Serendix’s proprietary 3D printing technology.
The MoU outlines a joint commitment to work with the Queensland Government to build a demonstration home and conduct a feasibility study on the suitability of Serendix’s products to suit local conditions.
“Serendix is keen to work with the Queensland Government going forward and to meet the expected strong demand for 3D printed housing with a local facility in the future,” said the CEO of Serendix, Hiroyasu Koma.
“We are very excited about the potential to contribute to Queensland and Australia sustainable and affordable housing sector.”
Following the demonstration phase, Planum Partners will support Serendix in exploring broader expansion across Queensland, with a focus on regional development and housing innovation.
“The signing marks a defining moment in Queensland’s innovation journey throughout World Expo 2025 Osaka, showcasing a bold commitment to advancing global partnerships and promoting investment opportunities across the entire Expo program,” Mr Adachi concluded.
TIQ approached Serendix upon discovering their plan to host a 3D printed housing demonstration at Expo 2025 capturing global attention and setting the stage for this groundbreaking collaboration.
Japanese electronics leader Sharp Corporation and Queensland-based energy innovator Energy Storage Industries-Asia Pacific (ESI) have signed a strategic Memorandum of Understanding (MoU) to co-develop next-generation zinc-air flow battery technology, marking a milestone in global energy storage innovation.
The MoU was signed at the Australia Pavilion at World Expo 2025 in Osaka, witnessed by Tak Adachi, Queensland’s Senior Trade and Investment Commissioner for North Asia. The partnership was facilitated by Trade and Investment Queensland, reinforcing the state’s role as a global connector in clean energy collaboration.
Tak Adachi, Senior Trade and Investment Commissioner, North Asia said the partnership reflects the kind of forward-thinking collaboration that defines the relationship between Japan and Queensland that’s been highlighted throughout World Expo 2025 Osaka.
“By combining Japanese innovation with Queensland’s research and deployment strengths, we are laying the groundwork for scalable, sustainable energy solutions that can serve markets across the Indo-Pacific and beyond,” Mr Adachi said.
“This project reflects the strength of Australia-Japan technology ties and the shared commitment to building resilient, low-emission energy systems. By connecting Japanese technology with Queensland’s energy expertise and research capability, we’re accelerating the future of sustainable power — and creating jobs and investment opportunities for our state.”
Bringing together Sharp’s world-class leadership in electrochemical systems and ESI’s proven track record in deploying long-duration energy storage infrastructure, the collaboration will begin with a technical proof-of-concept in partnership with The University of Queensland, supported by targeted research funding and a dedicated research position.
“We are thrilled to collaborate with ESI, made possible by the support of the State of Queensland,” said Norio Ito, Senior Vice President, Head of Corporate Research & Development Group, Sharp Corporation.
“This partnership will enable us to integrate the technologies of both companies, with the goal of accelerating the research and development of zinc-air flow batteries and contributing to the realisation of a carbon neutral society.”
The project will explore the viability of zinc-air flow batteries as a safe, sustainable alternative to lithium-based systems, offering longer storage durations, lower costs, and enhanced compatibility with renewable energy sources.
Justin Begg, CEO of Energy Transition Technologies (ETT), the ESI subsidiary driving commercial R&D and technology development in Australian decarbonisation, is excited to be working with such an innovative partner as Sharp.
“Building from 100 years of Sharp product innovation, this MoU signals not only the collaboration between Sharp and ESI but between Japan and Queensland. We thank the State of Queensland, and in particular Trade + Investment Queensland, for their support in developing this relationship. We look forward to the mutually beneficial outcomes that will follow.”
Following the initial proof-of-concept phase, Sharp and ESI intend to pursue additional research grants and advance toward commercialisation—positioning Queensland as a global hub for next-generation energy storage.
On August 29, SERES announced its 2025 mid-year results, reporting strong growth across all key metrics. In the first half of the year, SERES achieved operating revenue of CNY 62.4 billion and net profit attributable to shareholders of CNY 2.94 billion—an 81% year-on-year increase. R&D investment reached CNY 5.12 billion, up nearly 155% from the prior year, while NEV sales totaled 172,108 units.
This impressive performance was fueled by robust demand for premium smart electric vehicles under the AITO brand, supported by exceptional product quality and delivery capabilities. Contributing factors include the versatile MF Platform for efficient model development, the Super Factory for rapid production scaling, advanced digital-intelligent quality assurance systems, and a modern luxury experience that continues to strengthen AITO’s market reputation.
AITO’s latest models continue to raise the bar, with the AITO 9 and AITO 8 maintaining their positions as sales leaders.
In the first half of this year, the AITO series continued to evolve with several new launches, including the AITO 5 Ultra, the 2025 Edition AITO 9, and the AITO 8—all of which received strong market and consumer response.
Thanks to improvements across its entire value chain, AITO has set new standards for delivery among China’s luxury new energy vehicle brands. As of August 2025, total deliveries of all AITO models have surpassed 750,000 units. Notably, cumulative deliveries of the AITO 9 have exceeded 220,000 units, making it the top-selling vehicle in the CNY 500,000 luxury car segment. The AITO 8 quickly became a bestseller after its debut, with over 70,000 units delivered and holding the top spot in the CNY 400,000 price segment for four consecutive months.
Additionally, according to LandRoads’ Brand Health Tracking Study for New Energy Vehicles in the first half of 2025, the AITO brand ranked No. 1 in the Brand Development Confidence Index. The AITO 9 also led the overall new energy vehicle Net Promoter Score (NPS) rankings, with a score of 85.2.
Notably, AITO launched an all-electric version of its family-focused flagship SUV, the AITO 8, on August 25. The all-new AITO 7 is also set to make its official debut in September. With the ongoing introduction of new models, AITO continues to expand its product lineup to meet the diverse needs of consumers and strengthen its leadership in the luxury new energy vehicle market.
A Commitment to Technological Innovation and Robust R&D Investment Technological innovation is central to SERES’ long-term growth. The company has consistently invested in research and development, driving new advancements and achieving remarkable results in technology. In the first half of 2025, SERES invested CNY 5.20 billion in R&D—nearly a 155% increase year-over-year. The number of R&D personnel reached 6,984, up approximately 27% from last year and now comprising 36% of the company’s total workforce.
At this year’s Shanghai Auto Show, SERES unveiled its intelligent safety system, pioneering a scenario-based approach to vehicle safety. The new system establishes an intelligent safety framework across four key areas: life protection, vehicle body protection, health care, and privacy protection. This comprehensive approach ensures user safety throughout the entire vehicle lifecycle and sets a new industry benchmark for intelligent safety.
Previously, SERES introduced a series of major technological advancements, including the SERES MF Platform, SERES Super Range-Extender, and the SERES Super Factory. The SERES Super Factory has been an industry pioneer with its “factory-within-a-factory” model, driving product integration, intelligent manufacturing, and industrial clustering to boost collaboration and innovation. The company also set a new industry standard with its Zero-Carbon Smart Logistics Hub.
Brand Value Surges Amid Strong Investor Confidence As the world’s fourth new energy vehicle manufacturer to achieve profitability, SERES laid a strong foundation for growth in the first half of the year through strategic product portfolio optimization, technological innovation, and enhanced operational efficiency.
SERES also ranked 169th on the 2025 Fortune China 500 list. This was an ascent of 235 spots from the previous year, making it the fastest-climbing company on the list. On the TopBrand 2025 China’s Top 500 Brands list, released in August, SERES ranked 92nd with a brand value of CNY 175.52 billion, breaking into the automotive industry’s top 10 and highlighting its leadership in brand development and market influence. More recently, on August 28, SERES climbed to 59th place—up 174 spots—on the 2025 China Top 500 Private Enterprises list, becoming the top-ranked private enterprise in Chongqing.
Meanwhile, the capital markets continue to show strong confidence in SERES’ future growth. In the past six months, nearly 40 securities firms have issued “Buy” ratings for SERES, with expectations that the company will maintain a strong growth trajectory throughout the second half of the year.
– First-Half Net Profit Surges 80.4% – Dual Drivers of EV Battery and Energy Storage Accelerate Global Expansion
HONG KONG, Aug 28, 2025 – (ACN Newswire) – On August 27, CALB Group Co., Ltd. (“CALB” or “the Company,” stock code: 3931.HK) announced its unaudited condensed consolidated interim results for the six months ended 30 June 2025 (the “Reporting Period”). During the Reporting Period, the Company delivered outstanding operational performance with revenue of RMB16,418.88 million, representing an increase of 31.7% compared to the same period last year, and realized a profit of RMB752.99 million, representing a year-on-year increase of 80.4%. In the first half of 2025, the Company showed strong profitability and resilience during the accelerated trend of transformation of global renewable energy development.
According to SNE Research, the Company’s installed capacity of globally EV batteries in the first half of 2025 increased 22.7%, ranking third domestically and fourth globally, with the monthly installed capacity reaching 4.7GWh. The Company was particularly outstanding in the domestic passenger vehicle market with the market share hitting new highs in June and July, reaching 7.4% and 8.25%, respectively. In the energy storage sector, the Company’s growth was even more rapid. According to InfoLink, the Company’s shipment in the first half of the year ranked fourth globally, achieving milestone development in the energy storage sector.
Centered on continuous technological breakthroughs and with the launch of multiple major products, in the first half of 2025, the Company maintained its leadership in cutting-edge battery technology with the “UP” battery. At the same time, the Company’s 400Wh/kg solid-liquid hybrid battery is poised for mass production and commercial deployment, while significant progress has been made in the all-solid-state battery—including breakthroughs in R&D and the commissioning of a dedicated production line. CALB’s high-power lithium iron phosphate R46 large cylindrical battery is the first in the industry to achieve mass production and has successfully achieved mass production for the latest PHEV models from Geely and Dongfeng. At the same time, the Company’s next-generation lithium manganese LFP battery product achieves an energy density exceeding 210Wh/kg and will also go into mass production. With improved performance, the product can attain 10%- 80% charging within 15 minutes.
In the passenger vehicle market, leveraging exceptional product capabilities, the Company achieved full entry into the world’s top three automakers, namely Volkswagen, Hyundai and Toyota. In the first half of 2025, its 800V 5C batteries achieved a monthly sales volume of over 20,000 packs, which will support models for XPeng, Ledao, Leapmotor, Audi, BAIC, and others, and the 800V 5C high-voltage NCM battery exclusively supports popular models such as XPeng’s new P7 with ultra-long range, helping XPeng’s new P7 create a new world record of driving 3,971km in 24 hours.
In the commercial vehicle market, CALB has established a comprehensive product matrix architecture for “ZHIYUAN” batteries, covering all scenarios, all applications, and all capabilities. In the first half of year, the Company’s domestic commercial vehicle installed capacity has increased by 310% year-on-year. CALB is the first in the industry to launch a million-kilometer customized products for light trucks, significantly improving the quality assurance of battery systems and effectively enhancing product competitiveness in the market. Leveraging the outstanding recognition from the light truck field, the Company has established in-depth collaborations with customers such as Chery, Geely, Ruichi, Foton, Dongfeng, Changan, and King Long. In the heavy truck field, the Company has deeply cultivated the market through the scenario-based power consumption design and has achieved full-spectrum collaboration by partnering with customers such as Sinotruk, XCMG, SANY, Shaanxi Automobile, Jiefang, Dongfeng, Lingong, and Liugong.
The Company has made significant breakthroughs in the international market, and its energy storage business achieved rapid growth in the first half of year. The 314Ah second-generation long-cycle energy storage cell can achieve an ultra-long service life of 15,000 cycles and high energy efficiency of over 96%, while achieving zero degradation in the first 1,000 cycles, earning high recognition from customers for both the product and delivery capabilities. In terms of the overseas market, the Company has successfully partnered with the largest power plant projects in Latin America and South Africa, entering the supplier lists of several leading developers and power grid companies. Meanwhile, the Company’s next-generation “ZHIJIU” of 588Ah and 600Ah+ large energy storage cells will scheduled for mass production within the year.
In addition, the Company is the first in the industry to pass the eVTOL power battery manufacturing compliance review and supports the development of China’s low-altitude economy market by actively exploring emerging markets. At present, the R46 cylindrical battery cell with an energy density of 310Wh/kg is now in mass production for leading eVTOL customers in the industry. At the same time, CALB signed a deepened strategic cooperation agreement with GOVY, under which the two parties will carry out in-depth collaboration in the eVTOL sector and jointly promote the development of standardized eVTOL energy products.
Overall, in the first half of the year, CALB focused on the strategy of consolidating its leadership in products and technologies, while accelerating the globalization of its production capacity layout. At present, its battery Pack plant in Thailand has been put into operation, while construction of the Portugal base officially commenced in the first quarter of 2025. Looking ahead, with the further improvement of industrial chain system, the Company is expected to leverage its cross-domain, cross-scenario dynamic storage product matrix to achieve deep synergy in its dynamic storage business, creating cutting-edge product capabilities across all scenarios. At the same time, the Company will continuously explore emerging markets such as rail transit, mining, low-altitude flight, and humanoid robots by offering high-safety, high-reliability, and high-performance product solutions. Furthermore, CALB will continue to advance the implementation of its “energy+” strategy, further consolidating its leading position in the global new energy industry.
About CALB
CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.
Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “EMN”) is pleased to announce that shareholders have voted in favour of all matters of business brought before them at the Company’s Annual General & Special Meeting of Shareholders (the “Meeting”) held on May 15, 2025. Detailed results of the voting from the Meeting are set out below.
In addition, the Company announces an upcoming change to its Chief Financial Officer effective at the end of the month. See below for details.
In respect of Resolution 1, election of the Company’s directors, all five management nominees standing for election were elected as set out below based on a vote conducted by ballot:
Nominee
Total Votes Cast
Votes For
% For
Votes Withheld (Abstained)
% Withheld (Abstained)
John Webster
35,504,229
30,473,634
85.83
5,030,595
14.17
David B. Dreisinger
35,504,229
30,289,601
85.31
5,214,628
14.69
Thomas M. Stepien
35,504,229
30,298,601
85.34
5,205,628
14.66
Ludivine Wouters
35,504,229
33,904,004
95.49
1,600,225
4.51
Rick Anthon
35,618,229
33,735,888
94.72
1,882,341
5.28
The following matters of business at the Meeting, which were also carried out and decided by ballot, were approved:
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
89.10
N/A
N/A
3,885,375
Resolution 3 – Re-approval of the Company’s Stock Option Plan(1)
35,504,229
32,389,657
91.23
2,963,702
8.35
150,870
(1) In accordance with the rules of the Australian Securities Exchange (the “ASX“), shareholders of the Company also approved the Company’s stock option plan by a majority of the votes cast, with the 455,661 votes cast by directors of the Company excluded and reclassified as withheld/abstain. Based on this exclusion and reclassification, the total number of votes cast in respect of this resolution was 35,504,229, of which 31,933,996 votes were cast for the resolution, representing 89.94% of the total votes cast, 2,963,702 votes were cast against the resolution, representing 8.35% of the total votes cast, and 606,531 votes were withheld/abstain, representing 1.71% of the total votes cast.
Additionally, for purposes of the ASX, shareholders of the Company also approved each of the following resolutions:
a) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 21,400,000 Units comprising of 21,400,000 Shares and 21,400,000 Warrants to the European Bank for Reconstruction and Development (the “EBRD“) and the issuance of up to 18,063,331 Units comprising of 18,063,331 Shares and 18,063,331 Warrants, and 14,650,278 Units comprising of 14,650,278 CHESS Depositary Interests (“CDIs“) each representing one Share and 14,650,278 Warrants to sophisticated and professional investors, respectively, (the “Offering“);
b) for the purpose of Listing Rules 10.11.1 and 10.11.4 of the ASX, the issuance to the following individuals of Units under the Offering on terms and conditions identical to all other subscribers under the Offering:
(i) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd., a company controlled by Mr. John Webster;
(ii) 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger.
(iii) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien.
(iv) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters; and
(v) 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon;
c) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 4,904,478 broker warrants (the “Broker Warrants“) to Canaccord Genuity (Australia) Limited (“Canaccord“) and Foster Stockbroking Pty Ltd. (“FSB“), in connection with their remuneration for acting as co-lead managers of the Offering;
d) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the Share Purchase Plan (“SPP“) on the terms and conditions described in the prospectus issued to Eligible Shareholders; and
e) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 22,263,733 Orion Warrants to OMRF (BK) LLC (“Orion“) as compensation for certain amendments to the Convertible Loan and Royalty Agreement.
In accordance with Listing Rule 3.13.2(d) of the ASX, detailed results of the voting from the Meeting, on the resolutions outlined above, all of which were carried out and decided by ballot, are set out below.
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD
35,504,229
27,456,337
77.33%
1,228,296
3.46%
6,819,596
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd.
35,504,229
33,171,670
93.43
1,235,052
3.48
1,097,507
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger
35,504,229
33,187,967
93.48
1,235,052
3.48
1,081,210
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
94.09
1,235,052
3.48%
861,528
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
93.50
1,234,188
3.48
1,073,363
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
94.27%
1,234,188
3.48
800,439
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB
35,504,229
30,898,394
87.03%
1,163,498
3.28%
3,442,337
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP
35,504,229
33,324,730
93.86%
906,086
2.55%
1,273,413
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
93.97%
1,184,924
3.34%
956,759
The Company disregarded the following votes, from the applicable resolutions, as required by Listing Rule 14.11 of the ASX:
a) votes cast by the EBRD or any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of Shares or CDIs under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(a);
b) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolutions 4(b)(i), 4(b)(ii), 4(b)(iii), 4(b)(iv);4(b)(v) and 4(c);
c) votes cast by Canaccord and FSB (or any associates of Canaccord and FSB) who will be receiving Broker Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(c);
d) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the SPP (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(d); and
e) votes cast by Orion (or any associates of Orion) or any person (or any associates of such person) who will be receiving Orion Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 5.
Accordingly, the following voting exclusions applied to each of the resolutions below as required by the rules of the ASX:
Resolution 4(a): Total votes for Resolution 4(a) exclude 6,527,532 votes cast by parties participating in the Offering, including the EBRD and the directors. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(a).
Resolution 4(b)(i): Total votes for Resolution 4(b)(i) exclude 235,979 votes cast by John Webster (and entities controlled by him, including JJW Investments Ltd.) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(i).
Resolution 4(b)(ii): Total votes for Resolution 4(b)(ii) exclude 219,682 votes cast by David Dreisinger (and entities controlled by him) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(ii).
Resolution 4(b)(iii): Total votes for Resolution 4(b)(iii) exclude nil votes cast by Thomas Stepien (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(b)(iv): Total votes for Resolution 4(b)(iv) exclude nil votes cast by Ludivine Wouters (and entities controlled by her) who subscribed for Units in the Offering.
Resolution 4(b)(v): Total votes for Resolution 4(b)(v) exclude nil votes cast by Rick Anthon (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(c): Total votes for Resolution 4(c) exclude 2,390,000 votes cast by Canaccord and FSB, or their associates, which are to be issued Broker Warrants. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(c).
Resolution 4(d): Total votes for Resolution 4(d) exclude 468,854 votes cast by parties participating in the SPP. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(d).
Resolution 5: Total votes for Resolution 5 exclude nil votes cast by Orion which is to be issued Orion Warrants.
A total of 35,504,229 common shares, representing approximately 44.09% of the issued and outstanding common shares of the Company eligible to vote at the Meeting, were voted in connection with all of the above resolutions, except for the following: (a) the election of the Mr. Rick Anthon as a director of the Company, for which 35,618,229 common shares, representing approximately 44.23% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted; and (b) resolution 2, the appointment of PricewaterhouseCoopers LLP as Auditors of the Company, for which 35,645,599 common shares, representing approximately 44.26% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted. The results of all matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR at www.sedarplus.ca.
In accordance with ASX Listing Rule 3.13.2(e), the information below is being provided for the aggregate number of securities for which valid proxies were received before the Meeting. None of the Company appointed proxy holders were able to vote on any of the resolutions in their discretion.
Nominee
Total Proxies Received
Proxy directed to vote For
Proxy directed to vote Against
Proxy directed to Abstain
Proxy could vote at their discretion
Resolution 1 – Election of directors:
John Webster
35,504,229
30,473,634
N/A
5,030,595
Nil
David B. Dreisinger
35,504,229
30,289,601
N/A
5,214,628
Nil
Thomas M. Stepien
35,504,229
30,298,601
N/A
5,205,628
Nil
Ludivine Wouters
35,504,229
33,904,004
N/A
1,600,225
Nil
Rick Anthon
35,618,229
33,735,888
N/A
1,882,341
Nil
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
N/A
3,885,375
Nil
Resolution 3 – Re-approval of the Company’s Stock Option Plan (1)
35,504,229
31,933,996
2,963,702
606,531
Nil
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD(2)
35,504,229
27,456,337
1,228,296
6,819,596
Nil
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd. (3)
35,504,229
33,171,670
1,235,052
1,097,507
Nil
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger(4)
35,504,229
33,187,967
1,235,052
1,081,210
Nil
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
1,235,052
861,528
Nil
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
1,234,188
1,073,363
Nil
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
1,234,188
800,439
Nil
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB(5)
35,504,229
30,898,394
1,163,498
3,442,337
Nil
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP(6)
35,504,229
33,324,730
906,086
1,273,413
Nil
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
1,184,924
956,759
Nil
(1) Excludes 455,661 votes cast by proxy by directors of the Company, which were reclassified as withheld/abstain. (2) Excludes 6,527,532 votes cast by proxy by the EBRD, directors and other subscribers in the Offering, which were reclassified as withheld/abstain. (3) Excludes 235,979 votes cast by proxy by John Webster and companies controlled by him (including JJW Investments Ltd.), which were reclassified as withheld/abstain. (4) Excludes 219,682 votes cast by proxy by David Dreisinger and companies controlled by him, which were reclassified as withheld/abstain. (5) Excludes 2,390,000 votes cast by proxy by Canaccord and FSB or their associates, which were reclassified as withheld/abstain. (6) Excludes 468,854 votes cast by proxy by subscribers to the SPP, which were reclassified as withheld/abstain.
Change in Chief Financial Officer
The Company also announces that Dean Larocque will step down as Chief Financial Officer effective May 30, 2025. The Company would like to thank Dean for his efforts since joining the Company in November 2024 and wish him well in his future endeavours. The Company expects to announce the appointment of its new Chief Financial Officer in the coming weeks.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual-listed on the TSXV and the ASX.
Authorized for release by the President and CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Inquiries
Martina Blahova President and CEO +1-604-681-1010 ext. 101 Website: www.mn25.ca
Jane Morgan Management Jane Morgan Investor and Media Relations – Australia +61 (0) 405 555 618 jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward-looking statements include statements regarding replacing the Chief Financial Officer and any expected outcome and ability to navigate current market conditions. All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
On 6 May 2025, CALBGroup Co., Ltd. (CALB or the Company, HKG: 3931) announced that it intends to acquire 11% of the shares of A-share listed company Jiangsu Olive Sensors High-tech Corporation Limited (Jiangsu Olive Sensors, stock code: 300507.SZ) through the Share Transfer Agreement. Since the Jiangsu Olive Sensors’ original actual controller gives up majority of the voting rights, CALB will become the controlling shareholder and actual controller of Jiangsu Olive Sensors. The re-elected board of directors of Jiangsu Olive Sensors will consist of five directors, all of whom shall be nominated by CALB. In addition, Jiangsu Olive Sensors intends to private place its 15% shares to CALB, after these shares issuing, CALB’s shareholding and voting rights will increase to 22.61%.
This transaction highlights expectations of the original actual controller of Jiangsu Olive Sensors for the strategic entry of CALB. Moreover, through the deep empowerment of CALB, Jiangsu Olive Sensors will be deeply integrated into the new energy industry chain, anchored in a broader market and sustained performance growth, and achieve a dual enhancement of performance and valuation in the wave of new energy development and revolution. Leveraging its global market presence and chain-leading position in the new energy sector, CALB will provide Jiangsu Olive Sensors with comprehensive, multi-scenario empowerment, further promoting Jiangsu Olive Sensors’ future development across the upstream and downstream industrial chain.
This transaction is one of the limited cases that H-share listed company acquires A-share listed company since the introduction of the “Six Articles on M&A”. It will become another benchmark case for M&A and restructuring to enliven the capital market and promote industrial upgrading. In April 2024, State Council of China issued “Nine New Guidelines” for capital market, which clearly indicated that it would intensify the reform of M&A and take measures to activate the market of M&A and restructuring. In September 2024, China Securities Regulatory Commission issued the New Measures Aimed at Guiding Mergers and Acquisitions among Listed Companies, which further pointed out that it supports listed companies to transform and upgrade themselves in the new qualitative productivity and encourages listed companies to strengthen industrial integration.
In the background of M&A and restructuring wave continues to promote, CALB’s acquisition of holding Jiangsu Olive Sensors is a positive response to the national strategy but also plays a strategic practice of the “chain leader” role leading the new energy industry chain. This transaction will help to achieve the strong combination of the two companies and together to promote the high-quality development of the new energy industry through the two companies’ synergistic empowerment in many areas. Industry insiders pointed out that industrial upgrading and efficiency improvement due to M&A and integration is expected to result in a valuation premium, and industry chain leaders will have more opportunities for valuation reshaping.
In fact, CALB and the target company Jiangsu Olive Sensors are both in the automotive industry chain and are the leading enterprises in their respective segments. CALB is the first EV battery company listed on the Hong Kong Stock Exchange. As a globally influential battery specialist, its passenger vehicle clients have covered major domestic and international automakers, including XPeng, Geely, Changan, GAC, Leapmotor, Toyota, Honda, Volkswagen, Audi. In the commercial vehicle sector, its key clients have encompassed leading enterprises across the light and heavy commercial vehicle fields such as Chery, Geely, Ruichi, Foton, Dongfeng, Sinotruk, XCMG, SANY, and Shaanxi Automobile. In the field of energy storage sector, CALB has established cooperative relationship with the “Five Leading and Six Major” power groups, and has achieved strategic cooperation with many leading enterprises such as Sungrow Power, SPIC, CNN Rich Energy and China Energy Construction, etc. In 2024, CALB’s installed capacity of EV batterie ranked fourth globally and the third domestically, and its energy storage cell shipments also ranked fifth globally, building a closed loop of the new energy industry ecosystem with a diversified layout covering all scenarios such as passenger vehicles, commercial vehicles, energy storage, ships, and eVTOL.
For CALB, this acquisition will also further enhance the Company’s value. It is reported that Jiangsu Olive Sensors, the target of this acquisition, is one of the leading domestic automotive sensor companies. The company has more than 30 years of professional experience in the industry. Since 2022, its revenue growth has continued to grow at double digits, and its business transformation has shown results. In recent years, with the rapid innovation of the automotive industry, new energy and intelligence have entered the critical phase, and Jiangsu Olive Sensors has also taken the initiative to transform and upgrade to the field of new energy vehicle parts. From an industry perspective, the sensors and thermal management systems it focuses on have important application space in the fields of battery intelligence and battery safety. Against this background, CALB will give full play to its resources and advantages in the new energy industry chain through M&A, empowering the business development of Jiangsu Olive Sensors and further enhancing the corporate value of both parties.
Overall, CALB’s strategic deployment will leverage its resources and advantages across the new energy and automotive industry chains. This will enable it to empower high-potential targets with technological expertise, unlock the growth potential of Jiangsu Olive Sensors, and establish a development model where chain-leading enterprises drive innovation in specialized and sophisticated enterprises that produce new and unique products—ultimately accelerating industrial upgrading. Moving forward, the two parties are expected to foster more extensive and in-depth cooperation, creating synergies in industrial chain coordination and market expansion, thereby enhancing comprehensive competitiveness in new energy and smart technologies, enabling mutual growth and stronger market positions for win-win development. On a strategic level, CALB’s acquisition of Jiangsu Olive Sensors may reflect longer-term and more profound strategic considerations.
About CALB CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.
Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.
TVS Motor Company (TVSM), a leading global manufacturer of two and three-wheelers, is set to strengthen its electric vehicle (EV) presence in Southeast Asia through the integration of ION Mobility’s assets, intellectual property, and talent into its operations. Southeast Asia represents one of the world’s fastest-growing regions for motorbike usage, offering a significant opportunity for expansion.
TVSM has been a strategic investor in ION Mobility, a full-stack EV company known for its robust in-house capabilities across industrial and product design, mechanical and electrical engineering, embedded and power electronics, firmware, software, and supply chain solutions. This integration, combined with TVSM’s deep expertise in electric mobility, marks a major step toward unlocking new possibilities in the region.
Commenting on the development, Sharad Mohan Mishra, President Group Strategy, TVS Motor Company, said: “We were an early strategic investor in ION Mobility, attracted by their focus on delivering smart, sustainable, and exciting mobility solutions for ASEAN markets. Our ‘Reimagine 2030’ vision strongly aligned with their mission. With the acquisition of ION Mobility’s assets, IP and core team, we are thrilled to bring their entrepreneurial energy, design thinking and engineering strength into TVSM. Combined with our R&D depth, quality systems, and manufacturing scale, this partnership positions us to accelerate market penetration and grow our share across Southeast Asia.”
TVS Motor is already a formidable player in the global EV landscape, with nearly 600,000 customers choosing its flagship electric scooter, TVS iQube. The company has developed end-to-end in-house capabilities across EV components – battery systems, battery management, vehicle control units, and connected platforms – and holds more than 650 patents in the EV domain.
Earlier this week, TVS Motor Company announced that its wholly owned subsidiary TVS Motor (Singapore) Pte Ltd acquired select assets from ION Mobility and also divested its stake in the company. Following this move, James Chan, Founder and CEO of ION Mobility, has joined TVS Motor Company as Senior Vice President. He will lead TVSM’s business across ASEAN while also spearheading the development and launch of the M1-S electric mobility platform. The M1-S is already generating strong interest in ASEAN markets for its striking design, impressive range, agile acceleration, and suitability for daily commutes.
About TVS Motor Company
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.
– With increasing economies of scale, profit increased by 93% YoY to RMB843.63 million
HONG KONG, Mar 28, 2025 – (ACN Newswire) – On March 26, CALB Group Co., Ltd. (“CALB” or “the Company,” stock code: 3931.HK) announced its audited annual results for the year ended 31 December 2024 (the “Reporting Period”).
In 2024, with increasing economies of scale, the Company achieved solid growth in annual results. During the Reporting Period, the revenue of the Company increased from RMB27,005.89 million for the year ended 31 December 2023 to RMB27,751.53 million for the year ended 31 December 2024, representing an increase of 2.8%; the Company’s profit for the year increased from RMB437.16 million for the year ended 31 December 2023 to RMB843.63 million for the year ended 31 December 2024, representing an increase of 93.0%. The basic earnings per share of the Company increased from RMB0.1661 for the year ended 31 December 2023 to RMB0.3336 for the year ended 31 December 2024, representing an increase of 100.8%.
As a leading international new energy company, the Company made comprehensive efforts in all market fields during the Reporting Period and achieved sustained rapid development. According to the latest statistics from SNE Research, the Company’s installed capacity of EV batteries in 2024 ranked fourth globally and third domestically. According to InfoLink, the Company’s energy storage cell shipments ranked fifth globally in 2024.
In 2024, the Company deepened collaboration in domestic markets, achieving steady growth in installed capacity. During the Reporting Period, the Company’s solutions were integrated into 25 new vehicle models, cumulatively equipping over 2 million units nationwide, with an accumulated delivery volume exceeding 100GWh. In the field of pure electric vehicle, the Company successfully supported the upgrade, iteration, and mass production of flagship models for customers such as XPeng, Geely, Changan and GAC. Furthermore, the Company realized delivery in batches of new models for multiple joint venture brand, advancing the construction of a multi-dimensional market system; In the hybrid electronic field, the Company has accelerated collaboration on new hybrid projects with Geely and Leapmotor, while successfully supported the mass production of multiple hybrid models for customers such as Chery, Dongfeng, and BAIC, with the Company’s installed capacity continued to experience rapid growth, with a year-on-year increase of nearly 200%; In addition, in the international market, the Company accelerated its global layout and secured nominations from international brands such as Toyota, Honda, Volkswagen, and Audi, while continuously expanding its customer base in Europe and Southeast Asia. During the Reporting Period, the Company’s delivery volume steadily increased, with a growing variety of product types delivered. The Company’s overseas installed capacity grew by 105% year-on-year, hitting another record high. Furthermore, in the commercial vehicle market, the Company’s Annual New Vehicle increased by 150% year-on-year, while its domestic installed capacity grew by 85.2% compared to the same period last year, achieving comprehensive coverage of mainstream products and full-scenario empowerment. The Company has successfully penetrated leading customers such as Chery, Geely, Ruichi, Foton, Dongfeng, Changan, and King Long, providing comprehensive support and delivery for the industry’s mainstream models.
In the energy storage market, the Company’s energy storage cell shipments surpassed 5GWh in a single month, and the business results in terms of shipments achieved a sustained substantial growth. The Company’s 314Ah battery cells products are the first in the industry to pass certification and the first to achieve large-scale and stable delivery in batches, earning high customer recognition for both product quality and delivery capabilities. During the Reporting Period, the Company achieved major breakthroughs in the international market, completed the admission process with a number of international top energy storage owners, EPCs, integrators and suppliers, enlisted in the whitelist of these customers, achieved the delivery in batches. As a supplier of high-performance energy storage cells, the Company secured and delivered the entire 7.8GWh order for the world’s largest energy storage project in 2024, and successfully launched its first self-invested power station project. At the same time, the Company’s achievements in the ship market are equally significant. the Company secured the first electric vessel project from the world’s largest oil company. Additionally, the Company won its first international order for a megawatt-level marine battery system, achieving a breakthrough in the “offshore engineering vessel” sector. The Company’s electric vessels also gained traction with batch orders at Singapore’s port, while successfully penetrating the high-end yacht market in the United States.
Steering rapid development by innovation, the Company adheres unwaveringly to the strategy of consolidating its leadership in products and technologies. Propelled by a future-oriented R&D layout, the Company pushes forward the constant advancement of battery technology from multiple dimensions such as innovations in materials, structures, manufacturing as well as systems, whereby the Company possesses a number of leading technologies and products worldwide, and builds on hard-core product capabilities in all scenarios, thus bringing the development of the industry to a new height. In 2024, the Company has successfully launched new product series: “Top-tier”, “UltraRange”, “UltraLife”, and “Boundless”. These products feature comprehensive innovations and advancements in high energy density, enhanced safety, extended lifespan, ultra-fast charging, and all-weather performance, providing comprehensive and valuable full-scenario product solutions to the market and its customers. Meanwhile, putting together its own technical capabilities and industrialization strength, the Company constantly pursued the high energy density and stable safety performance of EV batteries, launching more competitive new products of ternary series and phosphate series. The Company continued to maintain its product leadership by devoting its efforts in power energy storage (new energy power generation and power grid), industrial and commercial energy storage, household energy storage and other application scenarios.
About CALB
CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.
Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.
