Jiangsu Azure Corporation's Q1 lithium battery shipment volume exceeded expectations

The performance report for the first quarter of 2024 released by Jiangsu Azure Corporation stated that the company achieved operating income of 1.429 billion yuan, a year-on-year increase of 46.77%, achieving a net profit attributable to the parent of 70.67 million yuan, turning losses into gains year-on-year. The company's sales gross margin was 14.27%, up 5.10 percentage points year-on-year, achieving basic earnings per share of 0.06 yuan, turning positive year-on-year, and diluted return on net assets of 1.08%, turning positive year-on-year. For the excess shipment volume in the first quarter, the company expressed confidence in reaching an annual lithium battery shipment volume of 400 million units. Currently, the finished goods inventory of Jiangsu Azure Corporation is sufficient for about one month of sales.