Securities code: 300068 securities abbreviation: Zhejiang Narada Power Source Co.Ltd(300068) Announcement No.: 2022-013 Zhejiang Narada Power Source Co.Ltd(300068)
2021 annual performance forecast
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Expected performance of the current period
1. Performance forecast period: January 1, 2021 to December 31, 2021
2. Performance forecast: the expected net profit is negative
The current reporting period of the project is the same period of last year
Attributable to shareholders of listed companies
Net profit loss of: 1270 million yuan – 980 million yuan loss: 281092000 yuan
After deducting non recurring profit and loss
Net profit loss of: 1173 million yuan – 883 million yuan loss: 782266100 yuan
Operating income: RMB 1100000000-13000000, RMB 10259772600
After deduction, the operating income is 1.09 million yuan – 1.29 million yuan and 10201.2637 million yuan
Note: the data in this table are the data of consolidated financial statements, and the “Yuan” in this announcement refers to RMB.
2、 Communication with accounting firms
The financial data related to the performance forecast of the current period have not been audited by certified public accountants. The company has made pre communication with the accounting firm on major matters related to the performance forecast, and there is no significant difference between the company and the accounting firm on the financial data related to the performance forecast.
3、 Explanation of performance change reasons
During the reporting period, the company’s operating revenue is expected to increase by 7.21% – 26.71% compared with the same period of the previous year. Mainly due to the expansion of market demand brought by the development of global new energy industry, the company’s business revenue in energy storage, communication and civil power sectors has increased significantly.
During the reporting period, affected by the sharp rise in the price of raw materials, intensified market competition, the impact of the epidemic on delivery, production line adjustment and other factors, the company’s comprehensive gross profit margin decreased significantly, its net profit decreased sharply, and there were large losses. The main reasons are as follows:
(I) decline in operating performance
1. During the reporting period, the overall price of raw materials of lithium battery products rose sharply unilaterally, and the price of raw materials and auxiliary materials of lead battery products increased significantly. Due to fierce market competition, the increase of product cost of the company could not be effectively transmitted, and the growth rate of product sales price was less than that of raw materials; Civil lead-acid business is affected by market competition, and the price of ordinary civil lead-acid battery products has decreased significantly. Therefore, the company’s comprehensive gross profit margin decreased significantly during the reporting period, resulting in a loss of about 500 million yuan.
2. During the reporting period, affected by the global epidemic, the delivery of products in overseas markets was affected. At the same time, the shipping price increased significantly, and the sales in overseas markets were far lower than expected. At the same time, affected by the “double control” policy, the company’s capacity utilization did not meet expectations, the product manufacturing cost increased, further reduced the product gross profit margin, and then increased the company’s loss.
3. During the reporting period, due to the adjustment of the company’s business, products and production lines, the company integrated the production base and relocated the lead power production line of Hangzhou production base to Wuhan production base. During the adjustment period, the capacity utilization was greatly affected; Huaplatinum technology, a wholly-owned subsidiary of the company, carried out the maintenance of recycled lead smelting furnace in the fourth quarter. The shutdown time was long, and the capacity utilization rate was also greatly affected, which increased the loss of the company.
4. During the reporting period, the company increased the investment in R & D projects, and the R & D expenses increased by about 80 million yuan over the same period of last year.
(II) provision for asset impairment and loss on asset disposal
According to the accounting standards for Business Enterprises No. 8 – asset impairment and relevant accounting policies, combined with the changes of industrial policies, competition pattern and asset operation, and based on the principle of prudence, through the preliminary test of the company’s financial department:
1. As the operating income of some user side energy storage power stations of the company continued to fall short of expectations, the company disposed of assets, and the amount of loss from asset disposal was about 160 million yuan;
2. According to the company’s annual operation, the company is expected to withdraw about 100 million yuan of impairment reserves for goodwill, inventory and other assets.
To sum up, during the reporting period, the company expects to make provision for asset impairment and asset disposal losses, with a total amount of about 260 million yuan. Up to now, the relevant impairment test is still in progress, and the final amount of asset impairment loss will be determined after evaluation and audit by the evaluation institution and audit institution with securities and futures qualification hired by the company.
(III) during the reporting period, the impact of non recurring profits and losses on net profit was about -97 million yuan.
4、 Other relevant instructions
1. This performance forecast is the preliminary calculation result of the company’s financial department and has not been audited by the audit institution. 2. The specific financial data will be disclosed in detail in the company’s 2021 annual report. Please make careful decisions and pay attention to investment risks.
It is hereby announced.
Zhejiang Narada Power Source Co.Ltd(300068) board of directors
January 26, 2022
