GP Batteries announced its unaudited results for the three months ended June 2007. GP Batteries is 49.2% owned by the Singapore-listed GP Industries Limited which is a 69.3% subsidiary of Gold Peak. The Turnover was S$229.8 million (approx. million 152US$; +22,8% compared to Q1/2006), the profit attributable to shareholders was S$3.4 million (approx. Million 2,2US$; +50,9% compared to Q1/2006).

After a long stagnant period, sales of Nickel Metal Hydride rechargeable batteries registered a growth of 40% as GP Batteries managed to capture more market share. Sales for other product lines also recorded steady growth. Sales in Europe increased significantly due to the strong Euro. Sales in other regions were stable.

The disposal of GP Batteries’ entire investment in TCL Corporation resulted in an exceptional gain of S$16.7 million.Restoration of production facilities at Ningbo GP Energy Co., Ltd is progressing according to schedule. Demand for Lithium-Polymer products of Danionics Asia Limited remained low. Delivery of EV NiMH batteries to Vectrix Corporation for use in electric motorcycles rose as demand increased.