GENETEC's revenue is heavily concentrated, with 99.9% coming from Electric Vehicles (EV) and energy storage (ES).

The transition to the main market has been successfully accomplished.

In comparison to Q2 FY23, the gross margin has decreased from 44% to 32%, primarily attributed to one exceptional ECR in Q2 FY23. Most of the associated costs of this ECR have already been recognized.

The order book stands at 294 million, predominantly from the Energy Storage & E-Mobility sector.

Customer T visited Genetec and appointed them as the preferred source for a new project. Subsequently, Genetec has received requests from Customer T to participate in several new projects, signaling positive impacts in the coming years.

Customer Z is anticipated to place a recurring project order in 1H CY24, and no bidding is required.

BESS has secured a proof-of-concept project for 10MW, with expectations of receiving more orders after the successful completion of the proof-of-concept.