Welcome to our dedicated page for Sunrise New Energy Co., Ltd. news (Ticker: $EPOW), a resource for investors and traders seeking the latest updates and insights on Sunrise New Energy Co., Ltd. stock.
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Sunrise New Energy, a leading EV battery material manufacturer, reported an 18.16% revenue growth in 2023, increasing from $38.1 million to $45.1 million. The company also saw a significant rise in patents, from 11 to 27, a 145.45% increase. The company expects a revenue increase of 38.58%, reaching $62.5 million in 2024. Despite a net loss of $24.2 million due to market competition and surplus capacity, Sunrise anticipates a reduction in losses in 2024 as the industry recovers. The company's graphite anode material, which accounts for 98.52% of its revenue, saw customer growth from 16 to 23, and volume growth from 6,225 tons to 12,513 tons. R&D expenses also increased by 13.21%, supporting continuous innovation.