In the first three quarters of 2011, operating revenue of Shandong Shengyang Power Co., Ltd (002580.SZ) reached RMB 660 million, up 29.41% YoY; while its operating profit achieved RMB38.16 million, up 3.15% YoY. Revenue of the company was mainly sourced from battery business.
In the third quarter of 2011, its fund-raised project of 800,000 KVAh gel battery went into production, which had realized 50% capacity till November 2011 and was expected to reach full capacity by 2012. It is estimated that the total battery output of all kinds will hit 1.66 million KVAh in 2011 and register 2.01 million KVAh in 2012.
Battery Output of Shengyang Power, 2011-2012E
|
Battery Type
|
Output in 2011E
(1,000 KVAh)
|
Output in 2012E
(1,000 KVAh)
|
|
Battery for communication use
|
50
|
55
|
|
New Energy and stored energy battery for emergency
|
55
|
75
|
|
Motive power battery
|
55
|
65
|
|
Electric power battery
|
6
|
6
|
Source: Shengyang Power; ResearchInChina