HEFEI, China, April 20, 2024 /PRNewswire/ — On the evening of April 19, Gotion High-tech (002074) released its 2023 annual report. The company achieved operating revenue of 31.605 billion RMB, with an increase of 37.11% on an annual basis; operating profit of 975 million RMB, with an increase of 390.92% on an annual basis; and the net profit pertaining to the owner of the listed company 939 million RMB, with an increase of 201.28% year-on-year. The company’s net cash flow from operating activities was 2.419 billion RMBgrowing by 201.86% year-on-year.
The same day, Gotion High technology also released its 2024 quarterly report. The company achieved revenue of 7.508 billion RMBa year-on-year increase of 4.61%, and the net profit attributable to the owner of the listed company, net of non-recurring profits and losses, increased by 195.26% year-on-year.
The report proves it Gotion High-tech Product delivery exceeded 40 GWh in 2023, with year-on-year growth of more than 40%, and sales revenues, including taxes, increased by more than 50% year-on-year amid continued declines in commodity prices. batteries. Turnover from sales of electric batteries equal to 23.051 billion RMB, a year-on-year growth of 24.72%. Revenues from energy storage activities were 6.932 billion RMBgrowing by 97.61% year-on-year, with a revenue share rising to 21.93%.
Gotion High technology adheres to the drive of innovation, increases investment in research and development, and accelerates the iteration of product technology. In 2023, the company’s research and development investment has reached 2.768 billion RMB, a year-on-year increase of 14.57%. The company’s Unified Cell, 4695 cylindrical cells, semi-solid cells and third-generation battery cell products such as L300, M600 and N300 have been recognized by the market for their excellent performance in terms of safety, energy density, power performance and service life. Among them, Gotion has been designated by Volkswagen (ETR:) Unified Cell globally; the energy density of the internally developed Astroinno battery reaches 190 Wh/kg.
Furthermore, Gotion High technology continues to delve deeper into the strategic design of globalization. With four plants pack in Germany, Indonesia, Thailand AND Silicon Valley of the WE launching their products and manufacturing bases as in Vietnam, Chicago of the WE, Michigan of the WE, Slovakia, ArgentinaAND Indonesia proceeding step by step, Gotion High technology initially formed the structure of ten overseas bases covering materials, cells and packaging, and realized the localization of production and research and development. In 2023, Gotion achieved overseas sales of 6.428 billion RMBan annual growth of 115.69%.
