According to the Zhitong Finance App, Titan Energy Technology (02188) announced its 2023 results, with a turnover of about 374 million yuan, up 8.53% year on year; loss due to company owners was 43.979 million yuan, an increase of about 1.41 times over the previous year; loss per share was 3.41 points.

According to the announcement, the main reason for the increase in the Group's turnover was the reporting period as the domestic COVID-19 epidemic was effectively controlled, domestic economic order gradually restored, industry development returned to normal, and market demand increased. Furthermore, in the face of changes in the market environment, the Group adjusted its sales policy and mobilized the enthusiasm of sales staff. At the same time, reliable product quality and professional integrated services were widely recognized by the market and customers, leading to an increase in the Group's turnover compared to the previous year. Among them, DC power products increased by about 13.90%, electric vehicle charging equipment increased by about 4.18%, electric vehicle charging services increased by about 17.74%, and others decreased by about 43.07%.

The main reasons for the increase in losses: increased costs and expenses during the reporting period; increased provision for accounts receivable.