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Germany Nano's revenue 1.054 billion first quarter net profit fell 73% compared with the same period last year
Apr 24,2020 13:09CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM: on April 23, Germany Nano disclosed the 2019 annual report and the first quarter 2020 report. The company realized operating income of 1.054 billion yuan in 2019, an increase of 0.04% over the same period last year; net profit attributable to shareholders of listed companies was 100m yuan, an increase of 2.07% over the same period last year; basic earnings per share was 2.56 yuan per share.

In the first quarter of 2020, affected by the epidemic, Germany Nano realized 157.2964 million yuan in operating income, down 28.79 percent from the same period last year, and realized a net profit of 6.5103 million yuan belonging to shareholders of listed companies, down 73.43 percent from the same period last year.

Although the company's operating income in 2019 was basically the same as that in the same period, lithium iron phosphate achieved an increase of nearly 7000 tons in terms of sales volume, so the stagflation in revenue was mainly due to the decline in the unit price of products; the net profit attributable to shareholders of listed companies increased slightly, with gross profit margin rising by 1.03% to 21.28%, and profitability rebounding; cash flow generated by operating activities increased significantly by 72.74% to 290 million yuan. The company's position in the industry is stable, the customer structure is gradually optimized, and the hematopoietic ability will continue to be enhanced. However, as a result of the significant increase in the distance between goods, the cost of sales increased by 0.76 per cent. The construction of the production base, the increase in the number of employees led to a substantial increase in compensation, resulting in a 1.43% increase in management expenses compared with the same period, the overall cost rate showed an upward trend, and the three rates are expected to show a downward trend with the completion of capacity expansion in the later stage.

In addition, Germany's top five customers accounted for 90% of revenue, down about 3% from a year earlier. At the same time, the company says it has now reduced the proportion of purchases from a single supplier by more than 30% of the total, or is heavily dependent on a small number of suppliers, as a sign of raw material stability.

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