Gotion High-tech Releases the 2023 Annual Estimated Results
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Gotion High-tech Releases the 2023 Annual Estimated Results
PRESS RELEASE
Ad hoc announcement pursuant to article 53 LR
Gotion High-tech Releases the 2023 Annual Estimated Results
Hefei, China, 29 January 2024—Gotion High-tech Co., Ltd. (the “Company”) releases the 2023 annual estimated results today:
I. Estimated results for the period
1. Period of the estimated results: from January 1, 2023 to December 31, 2023
2. Estimated results:
Items | This Report Period | Corresponding Period of Last Year |
RMB 31,000 million - RMB 33,000 million | RMB 23,051.70 million | |
Net Profit Attributable to Shareholders of the Listed Company | Profit: RMB 800 million - RMB 1,100 million | |
Growth over the corresponding period of last year:157% - 253% | ||
Net Profit After Deducting Non-recurring Profit or Loss | Profit: RMB 85 million - RMB 120 million | Loss: RMB 515.17 million |
Turnaround compared to the corresponding period of last year | ||
Basic Earnings Per Share | Earnings: 0.45 RMB / share - 0.62 RMB / share | Earnings:0.18 RMB / share |
II. Reasons for the change in the estimated results for the period
The company’s 2023 annual results achieved growth compared with the corresponding period of last year, mainly due to:
During the reporting period, benefiting from the rapid development of new energy industry and the strong market demand of the power and storage lithium battery, the company’s lithium battery business developed at a high speed. In 2023, the company’s overseas business showed initial results, the market development ability was further improved, and the delivery capacity of energy storage business was further enhanced, realizing good earnings; the company’s supply chain layout showed initial signs of success, and the cost price of raw materials was further reduced, in particular, the company introduced the comprehensive Volkswagen Group’s management system, promoting the improvement of management ability and product quality, and realizing internal cost reduction and efficiency enhancement.
During the reporting period, the Company’s net profit attributable to shareholders of the listed company achieved substantial growth, and the Company’s net profit after deducting non-recurring profits and losses turned from a loss to a profit.
III. Full results release
This estimated result is based on preliminary calculations by the company’s financial department, which has not been audited by the accounting firm, and may differ from the final data disclosed in the company’s 2023 Annual Report. Specific financial data will be disclosed in detail in the Company’s 2023 Annual Report. Investors are advised to pay attention to the investment risk.
Contact information
Dr. Guohong Xu
Phone: +86 0551 62100213
E-mail: gxgk@gotion.com.cn
About Gotion
Gotion High-tech Co., Ltd., as the first private enterprise in the power battery industry to enter the capital market in China, was listed on the Shenzhen Stock Exchange in May 2015. The Company specializes in the development and manufacture of power batteries for new energy vehicles, energy storage application, power transmission and distribution equipment, etc.
Gotion High-tech is a technology-based company focused on power battery technology research and development and innovation. It is one of the earliest enterprises engaged in the independent research and development, production and sales of new energy vehicle power lithium-ion batteries in China. Gotion High-tech has global operations and has carried out strategic cooperation with Volkswagen, Tata Group, Vinfast and Jinko, among others.
Disclaimers
This announcement contains forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release.