Ronbay Technology(SH:688005)2024-04-29 11:05Financial Performance - The company's operating revenue for the reporting period was 3.692 billion yuan, a year-on-year decrease of 55.88% due to a significant drop in lithium salt prices affecting product pricing [7]. - Net profit attributable to shareholders decreased by 111.98%, impacted by low capacity utilization during the Spring Festival and increased investments in overseas and new business areas [7]. - The net profit for the reporting period was -37.59 million yuan, compared to a profit of 317.15 million yuan in the same period last year [19]. - Basic and diluted earnings per share were both -0.08 yuan, reflecting the decline in net profit attributable to shareholders [19]. - The net profit attributable to shareholders for Q1 2024 was -¥37,241,586.34, representing a decline of 111.98% year-over-year [41]. - The company reported a net loss of RMB 31,860,975.63 for Q1 2024, compared to a profit of RMB 379,366,216.82 in Q1 2023 [70]. Revenue and Sales - The total revenue from sales and services received in Q1 2024 was ¥553,275,230.46, down from ¥766,082,394.61 in Q1 2023, indicating a decrease of approximately 27.8% [25]. - The company's operating revenue for Q1 2024 was ¥689,521,429.26, a decrease of 20.66% compared to ¥868,833,415.02 in Q1 2023 [35]. - Total operating revenue for Q1 2024 was RMB 3,691,640,761.48, a decrease of 56.1% compared to RMB 8,368,049,013.90 in Q1 2023 [70]. - The company achieved a significant rebound in operations starting in March, with monthly shipment volumes increasing by over 80% compared to the previous month, reaching a historical high [12]. - In Q1 2024, the company delivered nearly 5,000 tons of products to international customers, accounting for approximately 20% of total shipments, with expectations for further increases in Q2 [13]. Research and Development - Research and development investment increased by 66.43% compared to the previous year, reflecting the company's commitment to enhancing R&D activities [7]. - The company's R&D expenses for Q1 2024 amounted to ¥50,826,703.43, an increase of 53.66% compared to ¥33,063,682.20 in Q1 2023 [35]. - Research and development expenses for Q1 2024 amounted to RMB 86,966,376.82, up 66.3% from RMB 52,255,563.60 in Q1 2023 [70]. - The company has made substantial progress in the development of sodium batteries and manganese iron lithium products, achieving significant sales growth in Q1 [14]. - The company has begun mass sales of solid-state battery cathode materials and is involved in multiple national-level R&D projects, with nearly 100 tons of solid-state products shipped in Q1 [14]. Financial Position - The total liabilities increased to ¥8,822,210,405.40 from ¥7,613,882,832.13, representing a growth of approximately 15.8% year-over-year [23]. - The total equity decreased to ¥5,883,492,345.40 from ¥6,034,368,917.66, reflecting a decline of about 2.5% year-over-year [23]. - The total assets at the end of the reporting period were ¥24,425,097,451.57, a decrease of 0.87% from ¥24,639,096,566.49 at the end of the previous year [42]. - The total non-current assets increased to ¥6,211,552,196.28, up from ¥6,073,679,586.78 in the previous year [34]. - The total liabilities as of the end of the reporting period were RMB 14,336,264,949.06, slightly down from RMB 14,369,312,278.35 in the previous year [70]. Cash Flow - The net cash flow from operating activities for Q1 2024 was -¥257,096,623.48, an improvement compared to -¥677,051,878.03 in Q1 2023 [25]. - The net cash flow from operating activities for Q1 2024 was -¥1,001,462,119.71, indicating a significant cash outflow [41]. - The cash flow from financing activities for Q1 2024 was a net inflow of ¥394,210,506.64, compared to ¥361,286,481.39 in Q1 2023, indicating a slight increase [25]. - The cash inflow from operating activities for Q1 2024 was ¥3,790,863,449.62, down 37.3% from ¥6,054,136,484.62 in Q1 2023 [91]. - The net cash flow from investing activities for Q1 2024 was -¥716,871,077.00, contrasting with a positive cash flow of ¥416,378,186.64 in Q1 2023 [25]. Market Position - The sales volume of ternary cathode materials exceeded 26,000 tons, with a global market share of over 11%, up 1 percentage point quarter-over-quarter [49]. - The domestic market share of ternary cathode materials surpassed 18%, reflecting a 2 percentage point increase from the previous quarter [49]. - The company holds a 40% market share in the domestic high-nickel ternary cathode materials sector, solidifying its leading position [50]. - The company's global market share for high-nickel products reached 12.5% in March, marking a historical high [64]. - The company is focusing on locking in international key customers, with sales in Japan, South Korea, and Europe continuing to grow [83].