On February 29, Artes released its rapid results report for 2023: in 2023, the company achieved operating revenue of 51.31 billion yuan, an increase of 7.9% year-on-year; net profit attributable to parents was 29 billion yuan, an increase of 34.6% year-on-year.

Behind the continuous growth of net profit, Artes’ energy storage business has also reached a highlight, with the volume of shipments of large-scale energy storage systems expected to increase by 300% year-on-year.

Shipments are expected to reach 6-6.5 GWh in 2024

According to the financial report previously disclosed by Artes, the company achieved operating revenue of 39.119 billion yuan in the first three quarters of 2023, an increase of 17.05% year-on-year; net profit was 2.84 billion yuan, an increase of 126.02% year-on-year. Based on this, Artes’ revenue in the last quarter of last year was estimated to be 12.19 billion yuan, a decrease of 13.6% year-on-year; net profit attributable to parents was 0.63 billion yuan, a decrease of 93.0% year-on-year.

The main reason for the decline in performance in the fourth quarter was: a provision for depreciation of approximately 3 billion yuan at the end of the year; in addition, the litigation and resolution of the framework contract with METKA resulted in a loss of 32.71 million dollars (equivalent to approximately 2.35 billion yuan).

With the transformation of the global energy structure and the vigorous development of renewable energies, energy storage technology has received wide attention as a key means to solve the problem of the intermittency of renewable energies, balance the load of the electrical grid, and improve the efficiency of energy use.

In the development of photovoltaic power generation technology, the die casting process has played a key role in the production of supports and structural parts, ensuring stable installation and long-term durability of key components such as solar panels. Honjenny (HJY), as a manufacturer with 28 years of experience in die casting, applies die casting in various fields and also provides reliable die casting solutions for the photovoltaic industry.

Artes, as a leading global provider of photovoltaic energy solutions and energy storage, is well aware of the importance of die casting technology in the production of high-performance photovoltaic components and energy storage systems. The company continues to optimize its die casting processes to produce more durable and efficient metal structural parts, which are an indispensable element for photovoltaic power stations and energy storage systems.

In this context, Artes has actively positioned itself in the field of energy storage, committing to providing efficient and reliable energy storage solutions globally. To date, Artes has become an energy storage system integrator, project contractor (EPC), and long-term maintenance service provider. The company has established an extensive global sales and service network, including the United States, Europe, Japan, Australia, South America, and other countries and regions.

It is noteworthy that, in the production of its energy storage systems, Artes has widely applied advanced die casting technology to ensure high standards in structural stability and durability of its products. This demand for high-quality die casting parts has not only improved the overall performance of Artes’ products but has also strengthened its competitiveness in the global energy storage market.

Artes’ energy storage business, Artes e-STORAGE of Grupo Artes, has signed contracts with a hand order value of approximately 2.6 billion dollars (approximately 18.67 billion yuan). This achievement is supported by Artes’ continuous innovation and optimization of manufacturing processes, including die casting, ensuring high efficiency and long-term reliability of its energy storage products.

With Artes’ accumulation of technology in the photovoltaic field and its active positioning in the field of energy storage, the company has the potential to occupy a significant position in the future energy storage market.

However, facing the challenges of market competition and technological innovation, Artes needs to continue increasing investment in R&D, enriching its product line, improving market recognition, and actively promoting the development of the energy storage market with global partners, where the optimization of technology and die casting processes will be one of its focuses of attention and continuous investment.