NARADA(SZ:300068)2021-04-26 16:00Financial Performance - The company reported a total revenue of CNY 1,025,977.26 million in 2020, representing a year-on-year growth of 13.89%[6] - The company's operating revenue for 2020 was ¥10,259,772,565.40, an increase of 13.89% compared to ¥9,008,443,265.11 in 2019[29] - The net profit attributable to shareholders for 2020 was -¥281,092,043.95, a decrease of 176.23% from ¥368,732,432.51 in 2019[29] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥782,266,107.34, down 893.55% from ¥98,578,029.70 in 2019[29] - The net cash flow from operating activities was ¥380,524,043.70, an increase of 35.16% compared to ¥281,533,713.54 in 2019[29] - The total assets at the end of 2020 were ¥14,282,786,784.69, an increase of 8.29% from ¥13,189,310,051.07 at the end of 2019[29] - The basic earnings per share for 2020 was -¥0.33, a decrease of 178.57% from ¥0.42 in 2019[29] - The company reported a net loss of CNY 281.09 million for the year, impacted by asset impairments and increased costs[107] Revenue Breakdown - Revenue from lithium battery products increased by 79.62% compared to the previous year, while revenue from high-end graphene lead-acid battery products surged by 466.83%[6] - The revenue from the power industry increased by 31.35% to CNY 3,493,016,024.95, while the communication industry revenue decreased by 5.09% to CNY 2,376,667,411.87[128] - The communication lithium battery business generated CNY 861 million in revenue, marking a 58.88% year-on-year growth, with the company winning multiple domestic projects, including a 28% share in China Tower's procurement project[108] - The data center lead-acid battery business reported revenue of CNY 498 million, an increase of 84.44% year-on-year, with successful bids for projects from major clients like Alibaba[109] - The smart energy storage business achieved revenue of CNY 397 million, reflecting a 27.45% increase, as the company transitioned from lead-acid to lithium battery-based products[113] - The green transportation business saw revenue of CNY 3,493 million, a 31.35% increase, with lithium battery sales for light electric bicycles growing by 488.39%[114] Strategic Focus and Future Plans - The company plans to focus on energy storage as a strategic priority, supported by power business and lithium battery recycling, to enhance profitability and optimize product and customer structure[10] - The company plans to innovate its business model and expand application areas to drive strategic transformation and upgrade[49] - The company’s strategic focus includes expanding its technology solutions and enhancing its product offerings to improve market competitiveness[48] - The company plans to increase lithium battery production capacity by 6 GWh by the end of 2021, reaching a total capacity of 9 GWh[122] - The company is set to launch a project for recycling 25,000 tons of used lithium-ion batteries, expected to begin production in Q3 2021[122] - The company aims to enhance its lithium battery recycling technology and increase production capacity to improve profit contributions[197] - The company is targeting the global energy storage market, leveraging its technological and market advantages to expand into Europe, North America, Australia, and South Korea[196] Operational Efficiency and Management - The company will strengthen cost management and implement diverse incentive mechanisms to improve organizational efficiency and ensure sustainable operational results[10] - The company implemented management optimization strategies, including resource integration across various business segments to enhance operational efficiency[126] - The company aims to maintain rapid growth in its consumer lithium battery business while ensuring quality and cost optimization[195] - The company plans to optimize its supply chain processes to improve operational efficiency and delivery quality[198] Research and Development - The company has established a strong R&D team and advanced platforms, including a national-level enterprise technology center and a recognized laboratory, enhancing its technological innovation capabilities[94] - The company has formed a complete technology system from cell research and module assembly to system integration in the lithium battery and energy storage fields[95] - The company plans to strengthen its research and development investments, particularly in solid-state lithium batteries and fuel cells[199] - Research and development expenses amounted to ¥357,426,523.31, a 42.19% increase compared to the previous year[145] Market Presence and Competition - The company operates in over 150 countries, providing lithium-ion batteries, lead-acid batteries, fuel cells, and resource recycling products for various industries including telecommunications and electric vehicles[45] - The company has established deep cooperation with major telecom operators and equipment integrators, covering over 150 countries and regions, maintaining a stable domestic market share while increasing its international market share[65] - The company has successfully entered the high-end data center market in the U.S. as the only non-local battery brand among the top five preferred suppliers[68] - The company has been recognized as one of the most influential enterprises in the Chinese energy storage industry for several consecutive years[74] Challenges and Risks - The company is facing risks from international political and economic instability, as well as the ongoing impacts of the COVID-19 pandemic[200] - The company acknowledges the challenges posed by geopolitical issues, de-globalization, and terrorism on global economic stability[200] Investment and Financing - The company plans to raise up to CNY 141,569.44 million through a private placement to fund various lithium battery projects and working capital[121] - The company has a remaining amount of RMB 11.22 million from the raised funds, which has been idle for over two years[173] - The company has repaid bank loans and supplemented working capital with a total commitment of RMB 75,000 million, with full utilization of the funds[175]