FENGYUAN(SZ:002805)2024-05-31 09:26Group 1: Financial Performance - The company experienced a loss in 2023 primarily due to significant fluctuations in raw material prices, despite an increase in sales revenue and volume of lithium battery cathode materials compared to the previous year [2][3] - The overall gross margin declined due to high-cost raw material inventory at the beginning of the year and insufficient equipment utilization, leading to provisions for inventory impairment and asset impairment losses [2][3] Group 2: Research and Development - In 2023, the company significantly increased its R&D expenses, focusing on lithium battery cathode materials such as long-life lithium iron phosphate and high-performance lithium manganese oxide [2][3] - The company is actively pursuing the development of solid-state battery cathode materials and has invested in related solid-state battery companies [3] Group 3: Market Strategy and Risk Management - The company plans to closely monitor market trends and adjust inventory based on raw material price movements, while also engaging in commodity futures hedging to mitigate risks associated with raw material price volatility [3] - The outlook for the new energy industry remains optimistic, with the company aiming to enhance its core competitiveness and diversify its product structure to strengthen its differentiated competitive advantage [3]