NARADA(SZ:300068)2025-04-25 19:20Financial Performance - The company's operating revenue for 2024 was ¥7,983,750,953.19, a decrease of 45.56% compared to ¥14,665,629,021.19 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥1,496,826,770.00, representing a decline of 4,260.62% from ¥35,976,038.70 in 2023[21]. - The net cash flow from operating activities for 2024 was ¥210,036,789.39, down 66.73% from ¥631,328,984.00 in 2023[21]. - The basic earnings per share for 2024 was -¥1.74, a decrease of 4,450.00% compared to ¥0.04 in 2023[21]. - The total assets at the end of 2024 were ¥18,302,696,411.00, an increase of 0.54% from ¥18,204,725,000.00 at the end of 2023[21]. - The net assets attributable to shareholders at the end of 2024 were ¥3,992,142,690.00, a decrease of 26.37% from ¥5,422,094,150.00 at the end of 2023[21]. - The company reported a significant non-recurring loss of ¥236,824,917.07 in 2024, compared to a loss of -¥8,877,762.31 in 2023[29]. - The company experienced a quarterly revenue decline, with Q4 2024 revenue dropping to ¥122,215,872.03 from ¥2,982,559,661.03 in Q1 2024[24]. Revenue Decline Factors - The recycling segment experienced a significant decline in revenue due to high waste battery prices and uncertain local subsidy policies, leading to a substantial drop in operating income[4]. - Lithium battery product sales revenue decreased sharply due to intensified industry competition and a significant drop in raw material prices, with the company opting to forgo low-margin orders, resulting in underperformance in order acquisition and actual shipments[4]. - The revenue from the power storage segment was approximately ¥1.73 billion, accounting for 21.62% of total revenue, down 59.31% from ¥4.24 billion in the previous year[63]. - The company reported a total revenue of 798,375.10 million yuan during the reporting period, indicating a significant decline due to increased competition and falling sales prices in the lithium battery sector[47]. Strategic Direction and Business Focus - The company plans to continue its strategic direction of "three integrations and one fusion" (industry integration, sales-service integration, global integration, and ecological integration) to promote new energy storage and communication data center storage[6]. - The company is focusing on expanding its market presence through strategic partnerships and potential acquisitions in the technology sector[112]. - The company has shifted its business focus to the energy storage and lithium battery sectors, successfully completing a strategic and business structure transformation[126]. - The company aims to enhance its profitability and long-term growth potential through continuous optimization of its product offerings and solutions in key energy storage sectors[52]. Research and Development - The company has established a strong research and development team, with over 370 global safety certifications, enhancing its competitive edge in the energy storage market[48]. - Research and development expenses in 2024 amount to approximately ¥449.91 million, a decrease of 5.60% compared to ¥476.60 million in 2023[77]. - The company has made significant progress in developing new products, including large-capacity energy storage batteries and sodium-ion batteries, which are expected to enhance its competitive edge in the energy storage market[78]. - The company has authorized over 60 invention patents and transferred several of them, showcasing its strong focus on innovation and technology development[154]. Operational Challenges - The company is facing challenges in its lead recovery business due to supply-demand uncertainties and local subsidy policies, leading to a reduction in production[47]. - The company is facing challenges in the supply-demand relationship and local subsidy policies, leading to production cuts in recycled lead products[72]. - The company has reported a significant drop in sales volume for lithium-ion battery products, down 38.78% to 2.81 GWh[69]. - The production volume of lead-acid battery products decreased by 18.63% to 2.49 GWh, while sales volume fell by 26.82% to 2.62 GWh[70]. Cash Flow and Investment - The total cash inflow from operating activities for 2024 was ¥10,686,892,639.88, a decrease of 38.51% compared to 2023, primarily due to a reduction in operating revenue[82]. - The total cash outflow from operating activities for 2024 was ¥10,476,855,850.49, down 37.45% year-over-year, also attributed to decreased operating revenue and corresponding reductions in procurement expenses[83]. - The total cash inflow from investing activities for 2024 reached ¥603,179,358.53, an impressive increase of 453.44% year-over-year, driven by the disposal of equity in certain investment companies and the maturity of structured deposits[83]. - The total cash inflow from financing activities for 2024 was ¥8,306,151,642.48, up 32.87% from 2023, primarily due to new loans for fixed asset investments and increased loan turnover[84]. Market Position and Recognition - The company ranked third in the "2024 Global New Energy Enterprises Top 500" and third in the "2024 China Energy Storage System (DC Side) Global Market Shipment Volume TOP10" according to GGII[35]. - The company has established long-term partnerships with major domestic internet companies and service providers, securing the second position in Alibaba's annual procurement and becoming a preferred supplier for major data centers in the U.S.[38]. - The company has received over 370 global safety certifications for its energy storage products, reflecting its commitment to high standards and quality[35]. Environmental and Compliance - The company and its subsidiaries strictly complied with various environmental protection laws and standards during the reporting period[199]. - All construction projects met environmental impact assessment and pollutant discharge permit requirements[200]. - The company has been listed as a key pollutant discharge unit by local ecological environment departments[198]. Shareholder Engagement and Governance - The company held a temporary shareholders' meeting on January 10, 2024, with a participation rate of 33.61%[143]. - The annual shareholders' meeting on May 21, 2024, had a participation rate of 17.76%[144]. - The company approved a proposal to transfer part of its equity in an associate company during the second temporary shareholders' meeting[144]. - The company has established a performance-oriented salary system, aligning compensation with job value, employee performance, and company growth[177].