16 Aug 2024 CMB International Global Markets | Equity Research | Company Update BaTeLab (2149 HK) Strong 1H24 results signal brighter days ahead BaTeLab posted strong 1H24 earnings. Revenue grew by 42.1% YoY to RMB291mn driven by 1) continued launch of new industrial products (SKUs reached over 500 in 1H24 from ~400 in FY23), 2) strengthened partnership with key customers (new energy revenue contributed 30% of total revenue in 1H24, and 3) an expanded distribution network (partnership with several new distr ...