NARADA(SZ:300068)2023-04-21 16:00Corporate Governance and Social Responsibility - The company has continuously improved its internal control system and governance structure, ensuring accurate and timely information disclosure to all shareholders[1] - The company emphasizes social responsibility, actively engaging in charitable activities and providing assistance to impoverished communities[2] - During the reporting period, the company donated a total of 31,000 RMB in scholarships to 31 children of impoverished employees, supporting their education[4] - The company has a commitment to prioritize employment for impoverished households during recruitment to aid in poverty alleviation[2] - The company has been actively involved in community support initiatives, including donations to fire rescue stations and educational projects in impoverished areas[2] - The company has committed to maintaining good communication with investors through various channels, including an investor interaction platform and direct communication[1] Financial Performance - The company reported a total revenue of CNY 2,897,750,236.74 in Q1 2022, with a net profit attributable to shareholders of CNY 478,926,655.92[35] - In Q4 2022, the company experienced a net loss attributable to shareholders of CNY -276,727,529.89, indicating a significant decline in profitability[35] - The company's operating revenue for 2022 was ¥11,748,600,016.68, a decrease of 0.84% compared to ¥11,847,570,283.65 in 2021[53] - The net profit attributable to shareholders for 2022 was ¥331,341,343.65, a significant increase of 124.18% from a loss of ¥1,370,219,224.42 in 2021[53] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,399,585.44, improving by 101.11% from a loss of ¥1,291,982,890.51 in 2021[53] - The net cash flow from operating activities increased by 42.89% to ¥459,990,540.89 in 2022, compared to ¥321,928,209.53 in 2021[53] - The total assets at the end of 2022 reached ¥16,012,002,624.01, reflecting a growth of 15.76% from ¥13,832,109,976.92 at the end of 2021[53] - The net assets attributable to shareholders increased by 10.90% to ¥5,151,240,190.49 at the end of 2022, compared to ¥4,645,137,048.07 at the end of 2021[53] Market Position and Industry Impact - The company has established a strong market presence in over 150 countries, maintaining a stable domestic market share while increasing its international market share year by year[28] - The company ranked second in the global market for base station/data center battery shipments in 2022, according to the "Energy Storage Industry Research White Paper 2023" published by the Zhongguancun Energy Storage Industry Technology Alliance[28] - The company has completed a lithium battery recycling capacity of 70,000 tons, with an additional 150,000 tons planned for construction, achieving a lithium recovery rate of 90%[29] - The company has secured significant contracts, including a 129MWh energy storage project in the USA and a 300MWh grid storage project in Italy, enhancing its presence in North America and Europe[33] - The company has established a comprehensive layout in the energy storage industry, covering over 150 countries and regions globally[42] - The company has implemented a global business strategy, covering over 150 countries and regions, and has established a strong marketing network, particularly in the energy storage sector[83] Research and Development - The company is actively involved in the fuel cell industry through strategic partnerships and has established a professional team for technology research and development[30] - The company has focused on technology innovation, with a strong R&D team and several advanced research platforms, including a national-level laboratory and a postdoctoral research station[80] - The company has partnered with universities and research institutions for R&D projects, including solid-state battery development and material research, to ensure sustainable future growth[81] - The company is actively collaborating with universities and high-level enterprises to enhance its technological innovation capabilities, ensuring it remains at the forefront of the industry[129] - The company is actively developing next-generation battery technologies, including solid-state batteries with energy density reaching 350Wh/kg and sodium-ion batteries with production capabilities of 20Ah and 240Ah[155] Product Development and Innovation - The company developed a 280Ah large-capacity lithium iron phosphate battery and a new generation liquid cooling energy storage system, launching a new 305Ah energy storage battery and Center L Plus liquid cooling system in April 2023, enhancing its competitive solutions in the energy storage business[117] - The company has achieved large-scale applications of its new energy storage products across user-side, grid-side, and generation-side, with a global installed capacity nearing 5GWh[64] - The company has developed a new sodium-ion battery with a cycle life of 2000 times and energy density of 135Wh/kg to 145Wh/kg[192] Strategic Changes and Divestitures - The company has divested its civilian lead-acid battery business, generating approximately 512 million yuan from equity transfers, which will optimize its asset structure and reduce operational risks[79] - The company completed the divestiture of its civilian lead-acid battery business to reduce operational pressure and risks, focusing on energy storage development[146] - The company has established close business cooperation with major domestic lithium battery cell factories, leveraging its existing recycling network and subsidiary's recycling platform to secure raw material supply for lithium battery products, enhancing gross margin and profitability[151] Revenue Segmentation - The energy storage segment generated ¥895,268,810.55, representing 7.62% of total revenue, with a year-on-year increase of 54.94%[177] - The industrial storage segment's revenue was ¥3,964,977,918.79, accounting for 33.75% of total revenue, showing a significant decline of 47.09%[177] - The resource recycling segment achieved revenue of ¥6,888,353,287.34, which is 58.63% of total revenue, reflecting an increase of 82.43% year-on-year[178] - Lithium-ion battery products generated ¥2,601,152,380.31, making up 22.14% of total revenue, with a growth of 34.55% compared to the previous year[177] - Lead-acid battery products saw revenue drop to ¥2,259,094,349.03, which is 19.23% of total revenue, down 63.20% year-on-year[177] Operational Efficiency - The company has strengthened its overseas service centers in Europe, North America, and South Korea to improve operational efficiency and revenue[33] - The company has implemented two phases of equity incentive plans to enhance organizational vitality and employee motivation[48] - The company achieved a 20% increase in system lifespan and a 10% reduction in energy consumption with the new liquid cooling energy storage system[192] Future Outlook - The company expects the global electrochemical energy storage market to reach 1000GWh by 2030, with a compound annual growth rate (CAGR) of 49.3% to 60.3% from 2023 to 2027[63] - The lithium battery recycling market is expected to reach a theoretical market size of ¥943.2 billion by 2026, driven by the rapid development of the lithium battery industry[44]