Tianneng Power International Limited (00819) said the company is expected to record an increase of not less than 30% in its profit attributable to equity shareholders of the company (unaudited) for the six months ended 30 June 2020 as compared to the same period in 2019. The profit attributable to equity shareholders of the company for the six months ended 30 June 2019 amounted to approximately RMB0.564 billion.
The expected is mainly attributable to (1) when compared with the first half of 2019, there was a slight increase in the sales volume of batteries; and (2) benefited from the company's lean management approach, enhancement in its smart manufacturing capabilities and price adjustments in raw materials, the gross profit margin of major products was higher than the same period of last year.
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