Revenue Up 31.6% Gross Profit Margin Reached Over 55%

Actively Consolidates its Core Competitiveness of "EDA+IP+Design"

Continued to Focus on High-end Industrial-grade Analog IC Patterned Wafer Business

HONG KONG SAR - Media OutReach Newswire - 26 March 2024 - BaTeLab Co., Ltd. ("BaTeLab" or the "Company"; stock code: 2149) announced its annual results for the year ended 31 December 2023. Revenue amounted to approximately RMB 464 million, up by 31.6% year on year. Profit for the year exceeded RMB100 million for the first time. Gross profit margin reached over 55%.

In 2023, the integrated circuit ("IC") industry entered the development stage of "total volume remains stable, structural optimization" with China's import substitution trending increasingly. Benefited by the launch of new products in the industrial category and the strong growth in demand for applications in the new energy sector, BaTeLab continued to enhance its core competitiveness in products, business and technology and maintained a fast growth in its results performance.

2023 is the first year of successful listing of BaTeLab's H shares on the Stock Exchange. During the reporting period, the Company continued to carry out research and development activities and has made further breakthroughs in key technologies such as high common-mode rejection ratio, low noise, and low out-of-phase currents. Relying on its own EDA software, the Company has accumulated more than 400 IP modules covering 12 core functions of analog IC design and applicable to 9 core process technologies. The Company has established 9 integrated technology platforms suitable for the whole process from process to independent R&D through extensive business cooperation. High-voltage and high-current products have successfully entered into major new fields such as thermal management of new energy vehicles and current sensors.

The Company has products with either broad applicability or high precision and low power consumption researched and developed by nine technology platforms, and has achieved substantial revenue growth during the reporting period. Of which, H770 platform, which specializes in the research and development of high-voltage and high-current products, has the most outstanding performance in terms of annual sales and the number of new products, with more than RMB100 million in revenue and nearly 30 new product launch for the year ended 31 December 2023, respectively. The T006 platform, which features low power consumption, high-precision analog signal processing, showed significant annual revenue growth of over 80% for the year ended 31 December 2023 compared to that of 2022. With the advantages of multi-functional support and high performance, C140 platform products recorded a gross profit margin of approximately 60% for the year ended 31 December 2023, receiving favorable market feedback.

In 2024, the Company will continue to consolidate and enhance the technical advantages of "EDA+IP+design" and optimize the chip design process; to leverage its integrated technology platform to promote the in-depth integration of product design and production technology; to strengthen its competitiveness of stable supply chain channels; to expand the scope of diverse terminal applications in various fields such as industry, automobiles, communications, etc.; to enlarge its industry influence and market share; to consolidate the advantages of talent training; to establish a talent team with strong research and development capabilities, so as to bring sustainable and long-term development benefits to the company and shareholders.

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The issuer is solely responsible for the content of this announcement.

About BaTeLab

BaTeLab is one of the analog IC patterned wafer providers with a prominent market position in China, focusing on the research and development and sales of analog IC products, design in proprietary EDA software tools and reusable IP library to enable chip efficiency. Currently, the Company has formed a product system with a focus on industrial-grade analog IC products. The Company’s products can widely empower various application areas such as automotive electronics, healthcare, industrial automation, industrial Internet of Things, industrial lighting, instrumentation, communications, power, energy storage and consumer electronics.