China Shipbuilding Industry Group Power (SHA:600482) plans to promote the segment of 24-volt batteries for new energy vehicles as part of new business directions that will help mitigate operational risks, as well as boost value for shareholders, according to a Wednesday disclosure on the Shanghai bourse.
The plans also included expanding the AIDC diesel generator and emergency power businesses and the advancement of parking air conditioning, the Chinese power equipment manufacturer said in its annual convention with its shareholders.
The company has a global services network in various Chinese cities and international markets, such as the German city of Hamburg and South Korea's Busan, and 20 overseas service providers.
As the company focuses on service providers both locally and internationally, it believes this segment will become a major income source for the group by 2027. Service revenue in 2024 jumped 25% year over year to 1.5 billion yuan.
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