NEBULA ELECTRONICS(SZ:300648)2024-04-22 11:02Financial Performance - The company reported a total operating revenue of 906.70 million yuan, a year-on-year decrease of 29.18%[4]. - The net profit attributable to shareholders was -192.87 million yuan, a year-on-year decline of 2,230.62%[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -209.35 million yuan, down 1,843.37% year-on-year[4]. - The company's operating revenue for 2023 was ¥906,700,365.36, a decrease of 29.18% compared to ¥1,280,225,391.64 in 2022[23]. - The net profit attributable to shareholders for 2023 was -¥192,869,872.39, representing a significant decline of 2,230.62% from ¥8,945,557.30 in 2022[23]. - The net cash flow from operating activities improved by 83.27%, reaching -¥39,598,385.15 in 2023 compared to -¥236,737,791.77 in 2022[23]. - The total assets at the end of 2023 were ¥2,452,413,286.91, a decrease of 4.04% from ¥2,540,561,795.44 at the end of 2022[23]. - The net assets attributable to shareholders decreased by 18.61%, amounting to ¥860,515,935.47 at the end of 2023 compared to ¥1,057,025,927.41 at the end of 2022[23]. - The basic earnings per share for 2023 was -¥1.3051, a decline of 2,229.04% from ¥0.0605 in 2022[23]. - The diluted earnings per share for 2023 was -¥1.2932, down 2,248.17% from ¥0.0595 in 2022[23]. - The company reported a total of ¥16,481,135.24 in non-recurring gains and losses for 2023, compared to ¥19,824,861.40 in 2022[30]. - The company experienced a net loss in each quarter of 2023, with the fourth quarter loss reaching -¥111,328,013.93[26]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as the net profit before and after deducting non-recurring gains and losses has been negative for the recent three accounting years[24]. Market and Industry Trends - In 2023, China's new energy vehicle production and sales reached 9.587 million and 9.495 million units, respectively, representing year-on-year growth of 35.8% and 37.9%, with a market share of 31.6%[34]. - The cumulative production of power and other batteries in China reached 778.1 GWh in 2023, with a year-on-year growth of 42.5%, while cumulative sales were 729.7 GWh, with power batteries accounting for 84.5% of the total[35]. - In 2023, China's energy storage lithium battery shipments reached 206 GWh, a year-on-year increase of 58%, while global shipments were 225 GWh, growing by 50%[38]. - The global demand for energy storage batteries is expected to continue expanding, with shipments projected to exceed 500 GWh by 2025 and reach 2,300 GWh by 2030[39]. - The export volume of China's new energy vehicles reached 1.203 million units in 2023, marking a year-on-year increase of 77.6%[35]. - The cumulative sales of power batteries in China reached 616.3 GWh in 2023, reflecting a year-on-year growth of 32.4%[35]. - The small battery (SMALL LIB) shipments in China were 113.2 GWh in 2023, showing a slight decline of 0.9% year-on-year[40]. - The Chinese electric two-wheeler battery shipments were 8 GWh in 2023, down 6% year-on-year, primarily due to a decrease in exports[40]. - By 2030, China aims to establish a high-quality charging infrastructure system to support the new energy vehicle industry, with a target to meet the charging needs of over 20 million electric vehicles[38]. - The new energy storage market is being bolstered by government policies, with nearly 100 GW of new energy storage projects planned or under construction in China as of March 2023[37]. - In 2023, the number of new public charging piles in China reached 929,000, a year-on-year increase of 42.7%, while new privately built charging piles increased by 2,458,000, up 26.6%[41]. - By the end of 2023, the total number of charging infrastructure in China reached 8.596 million, a year-on-year increase of 65%, establishing the largest charging infrastructure system in the world[41]. Company Strategy and Operations - The company has established a comprehensive supply chain and procurement management system to control costs while ensuring quality[45]. - The company is transitioning from a customized equipment manufacturer to a standardized product manufacturer, enhancing production efficiency and reducing costs[46]. - The company has developed strategic partnerships with leading enterprises in the lithium battery and energy storage sectors to promote its "smart ultra-fast charging station" products[47]. - The company is recognized as a "national-level specialized and innovative small giant" and has participated in drafting national standards for lithium battery testing[48]. - The company launched several new products, including the "Star Cloud 600kW Liquid Cooling Super Charging Pile" and "Star Cloud 1000V Integrated DC Fast Charging Pile," showcasing its innovation capabilities[50]. - The company is transitioning from a traditional equipment sales model to a composite model that integrates product sales and technical services, enhancing customer loyalty[53]. - The company is actively promoting energy storage and high-voltage fast charging technologies, establishing joint ventures with leading industry players[53]. - The company aims to create a charging service network that provides a safer and smarter experience for electric vehicle users[54]. - The company has developed a comprehensive solution for lithium battery group intelligent manufacturing, applicable to various electric vehicle and energy storage sectors[56]. - The company’s energy management solutions include charging piles and energy storage inverters, catering to a wide range of electric vehicle models[56]. - The company has achieved CNAS certification for its testing services, enhancing its technical capabilities in battery research and production[51]. - The company operates in the rapidly growing fields of new energy vehicles, energy storage, and charging infrastructure, driven by favorable policies and industry development[57]. Research and Development - The company received 51 new invention patents, 223 utility model patents, and 7 design patents in 2023, bringing the total to 688 authorized patents[49]. - R&D personnel account for 33.73% of the total workforce, with 744 employees dedicated to research and development[59]. - The company actively participates in the formulation of national and industry standards, contributing to four national standards related to lithium battery testing[60]. - The company has established a "Postdoctoral Research Station," indicating recognition of its R&D capabilities[60]. - The company has established a comprehensive R&D system, including a future technology innovation laboratory, two research institutes, three testing verification platforms, and four R&D centers, enhancing its core technology and innovation capabilities[63]. - The company is focused on technological innovation and has a strong commitment to R&D investment, ensuring continuous product performance improvement[62]. Financial Management and Investments - The company reported a total of ¥70,894,040.12 in management expenses, which is a 14.20% increase compared to the previous year[97]. - The total cash inflow from financing activities was 992,518,473.19 CNY, a significant increase of 105.18% year-on-year[104]. - The net increase in cash and cash equivalents was 57,020,646.32 CNY, a turnaround from a decrease of 197,860,898.40 CNY in the previous year, marking a 128.82% improvement[104]. - The company has committed to invest a total of 23,000 million CNY in the new energy vehicle battery intelligent manufacturing equipment project, with 98% of the investment completed by June 2023[121]. - The company reported a total of 38,840 million CNY in committed investment projects, with 19,736 million CNY utilized by the end of the reporting period[123]. - The company has achieved 100.04% of the investment in the charging flow project, indicating successful project execution[121]. - The company has unused raised funds amounting to RMB 2,127.88 million, which will be allocated for main business operations according to future development plans[128]. Governance and Compliance - The company has maintained a strong financial position, with a debt-to-equity ratio of 0.3, indicating a solid balance sheet and financial stability[139]. - The board of directors consists of 7 members, including 3 independent directors, complying with relevant laws and regulations[144]. - The company maintains full independence from its controlling shareholders in terms of assets, personnel, finance, and operations[147]. - The company has established an independent financial accounting department, ensuring compliance with accounting laws and standards[149]. - The company has a complete and independent operational structure, including R&D, procurement, production, sales, and service systems[148]. - The company actively engages with investors through various communication channels, enhancing transparency and governance[145]. Employee and Talent Management - The company emphasizes the importance of talent development to support strategic growth and business needs[131]. - The company has established a competitive employee compensation system linked to performance and company operational goals[177]. - The company will continue to enhance its employee training programs, focusing on improving overall employee quality through various training methods[178]. - The total remuneration paid to directors, supervisors, and senior management in 2023 amounted to 6.076 million yuan, including 240,000 yuan for independent directors[164]. Profit Distribution and Shareholder Relations - The company plans not to distribute cash dividends or increase capital through capital reserves for the year 2023 due to the reported losses and the need for funds for future business expansion[195]. - The cash dividend total for the year was CNY 0.00, with no shares distributed or increased[192]. - The company’s profit distribution plan aligns with its articles of association and dividend management measures[192]. - The board of directors emphasized the importance of ensuring the company's long-term development and financial stability over immediate shareholder returns[195].