NARADA(SZ:300068)2020-04-28 16:00Financial Performance - The company's operating revenue for 2019 was CNY 9,008,443,265.11, representing an increase of 11.72% compared to CNY 8,063,134,838.57 in 2018[36]. - The net profit attributable to shareholders for 2019 was CNY 368,732,432.51, a growth of 52.35% from CNY 242,022,322.55 in the previous year[36]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 98,578,029.70, which is a decrease of 19.10% compared to CNY 121,848,364.27 in 2018[36]. - The company's total assets at the end of 2019 were CNY 13,189,310,051.07, reflecting a 4.01% increase from CNY 12,680,983,657.97 at the end of 2018[36]. - The net assets attributable to shareholders at the end of 2019 were CNY 6,475,324,900.95, up 4.85% from CNY 6,175,918,956.91 in 2018[36]. - The basic earnings per share for 2019 were CNY 0.42, an increase of 50.00% from CNY 0.28 in 2018[36]. - The diluted earnings per share for 2019 were also CNY 0.42, reflecting the same growth of 50.00% compared to CNY 0.28 in the previous year[36]. - The weighted average return on equity for 2019 was 5.83%, an increase of 1.87% from 3.96% in 2018[36]. - The net cash flow from operating activities for 2019 was CNY 281,533,713.54, which is a 13.50% increase from CNY 248,056,886.16 in 2018[36]. - The company reported a significant cash flow deficit in the first quarter of 2019, with a net cash flow from operating activities of -CNY 658,565,966.15[37]. Market Presence and Operations - The company has expanded its global operations, covering over 150 countries and regions, with significant export scale despite the severe impact of the COVID-19 pandemic on major economies[7]. - The company operates in four main application areas: communication and data, smart energy storage, green travel, and resource regeneration, providing a full closed-loop industrial chain[49]. - The company has established strategic partnerships with major clients in the communication sector, including China Mobile and Huawei, and is expanding its presence in the electric vehicle market[55]. - The company has established long-term partnerships with major internet companies and financial institutions in China[73]. - The company has formed deep partnerships with major telecom operators and equipment integrators, maintaining a stable domestic market share while increasing its international market presence[70]. - The company has a strong market presence, covering over 150 countries and regions, and ranks among the top three in the domestic communication backup battery market[102]. Research and Development - The company holds multiple intellectual property rights in core technologies such as high-temperature batteries and lithium-ion batteries, which are crucial for maintaining competitive advantages[14]. - The company holds over 1,000 patents, including more than 400 invention patents, showcasing its strong technological leadership in the industry[106]. - The company is collaborating with Zhejiang University on solid-state battery research and has reached a consensus with Huineng Technology to advance solid-state lithium battery industrialization[106]. - The company is actively involved in the research and development of fuel cells through partnerships, aiming to leverage its channel advantages in this sector[51]. - The number of R&D personnel rose to 564, representing 7.92% of the total workforce[156]. - Research and development expenses increased by 31.57% to ¥251,365,211.69 compared to the previous year[159]. Environmental and Social Responsibility - The company is committed to maintaining high standards for environmental protection and employee health, with a comprehensive management system in place[12][13]. - The company’s lead recycling business is located in a national "urban mining" demonstration base, achieving a metal recovery rate of over 99%[90]. - The company’s second-phase project will increase its annual processing capacity for waste lead-acid batteries to 1.2 million tons, further solidifying its leading position in the industry[91]. - The company is focusing on the development of energy storage technologies, supported by government policies aimed at promoting the integration of renewable energy sources[75]. Financial Strategy and Investments - The company will not distribute cash dividends or issue bonus shares, focusing instead on reinvestment for growth[17]. - The company plans to expand its market presence and invest in new technologies, focusing on renewable energy solutions[174]. - The company raised a total of CNY 242,726.9 million through a private placement, with CNY 243,440.55 million utilized by the end of the reporting period[185]. - The company has not yet used CNY 3.49 million of the raised funds, which are stored in a special account[185]. - The company plans to use up to 45,000 million yuan of idle raised funds to temporarily supplement working capital, with a usage period not exceeding two months[197]. Sales and Revenue Growth - The communication and data business generated revenue of 250,420.28 million yuan, with a gross margin increase of 4.66 percentage points compared to the previous year[114]. - The data center lead-acid battery business saw a revenue increase of 137.13%, driven by the growing demand for backup power solutions[116]. - The smart energy storage business reported revenue of 31,185.57 million yuan, up 26.08% year-on-year, with a gross margin increase of 1.65 percentage points[119]. - The green travel business achieved revenue of 265,928.60 million yuan, a 22.94% increase from the previous year, despite a slight decline in gross margin[121]. - The lithium battery product revenue increased by 45.59% to ¥831,206,471.99, compared to ¥570,927,065.49 in the previous year[133]. - The resource recycling sector saw sales of 331,900 tons, generating revenue of ¥5,112,783,900, which is a 14.12% increase year-over-year[124]. Challenges and Risks - The company is facing foreign exchange risks due to potential appreciation of the RMB, which could lead to reduced revenue and increased exchange losses; measures include diversifying settlement currencies and using forward foreign exchange contracts[11]. - Lead and its alloys account for over 60% of the production costs for lead-acid battery products, with fluctuations in lead prices affecting profit margins; the company plans to implement a lead price linkage mechanism to mitigate risks[8][10]. - The company reported a non-recurring loss of -¥3,398,826.07 in 2019, compared to -¥1,941,472.45 in 2018[42].