the facts and truth below. please do your due diligence and then post.

BTW, NOT ONE MENTION OF ITS SO-CALLED GLOBAL PARTNER IN THE ENTIRE 759 PAGES???

https://chinarept.com/upimage/affix/B.%20Glob...fering.pdf

Foxess

Quote:
Our sales volume of battery products increased
significantly from 1.55GWh in 2020 to 16.61GWh in 2022, representing a CAGR of 227.4%. Our sales volume of battery products increased significantly from 4.70GWh for the six months ended June 30, 2022 to 7.77GWh for the six months ended June 30, 2023. Despite our growth in sales, we are not yet profitable . See “Financial Information – Results of Operations” and “Business – Business Sustainability.”

Quote:
Tsingshan Group, our Controlling Shareholder, was one of our five largest customers , accounting for 5.9% and 12.7% of our total revenue, respectively. Tsingshan Group is expected to continue to be one of our five largest customers in 2023

Quote:
The market demand for our products is affected by the market demand for the end products where our batteries are used. Entering into 2023, the EV industry experienced slowdown in its growth. Combined with the impact from decrease in raw materials since early 2023, the prevailing market price for EV battery products experienced rapid decrease. Under such circumstances, the competition in EV battery market has been significantly intensified. T he competitive landscape in ESS battery market has also becoming increasingly challenging as a result of its rapid development in recent years. As a result, our market share of the EV battery products in China in terms of amount of installation decreased from 1.7% in 2022 to 1.2% in the six months ended June 30, 2023, and our market share among lithium-ion battery manufacturers globally in terms of global ESS battery installation decreased from 8.8% to 5.7% .

Quote:
However, in the six months ended June 30, 2023, we recorded net provision for impairment losses of inventories of RMB264.7 million , as the net realizable value of our inventories lower than their costs due to the decrease in average selling prices of our EV and ESS battery products as a result of the rapid decrease in raw material prices after entering into 2023

hehehehe

in my opinion

cheers