EVE(300014)2024-10-24 11:34Financial Performance - Revenue for the third quarter was RMB 12.39 billion, a decrease of 1.30% year-over-year[2] - Net profit attributable to shareholders was RMB 1.05 billion, down 17.44% year-over-year[2] - Total operating income decreased to 34.05 billion yuan from 35.53 billion yuan, a decline of 4.17%[24] - Net profit attributable to the parent company increased to 16.32 billion yuan from 14.16 billion yuan, a rise of 15.26%[24] - Net profit attributable to parent company shareholders was 3,188,651,049.63 RMB, compared to 3,424,389,233.10 RMB in the previous period[25] - Basic earnings per share were 1.56 RMB, down from 1.67 RMB[26] - Total comprehensive income was 3,305,701,468.24 RMB, compared to 3,883,272,081.43 RMB in the previous period[26] - Sales revenue from goods and services was 24,952,121,048.25 RMB, slightly down from 25,160,785,040.17 RMB[27] Battery Shipments and Market Share - Energy storage battery shipments reached 35.73 GWh, a 115.57% increase year-over-year[6] - Power battery shipments were 20.71 GWh, up 4.96% year-over-year[6] - The company's commercial vehicle battery market share in China reached 13.09%, ranking second[6] Production Capacity and Investments - The company's nickel-cobalt wet smelting project in Indonesia has an annual production capacity of 120,000 tons of nickel and 15,000 tons of cobalt[6] - The joint venture with DFD in Yunnan has reached full production capacity of 110,000 tons of lithium iron phosphate annually[7] - The company's subsidiary, Eve Lithium Malaysia, plans to invest up to RMB 3,277.07 million (approximately USD 459.69 million) in a project to manufacture energy storage and consumer batteries in Malaysia[19] Assets and Liabilities - The company's total assets increased by 6.88% to RMB 100.84 billion compared to the end of the previous year[3] - The company's equity attributable to shareholders increased by 5.44% to RMB 36.62 billion compared to the end of the previous year[3] - Total assets increased to 100.84 billion yuan from 94.36 billion yuan, a growth of 6.87%[22] - Long-term equity investments rose to 14.64 billion yuan from 14.41 billion yuan, an increase of 1.56%[22] - Fixed assets grew to 27.66 billion yuan from 21.75 billion yuan, a significant increase of 27.17%[22] - Construction in progress decreased to 10.20 billion yuan from 14.05 billion yuan, a drop of 27.43%[22] - Total liabilities increased to 60.86 billion yuan from 56.35 billion yuan, a rise of 8.00%[23] - Short-term borrowings increased to 1.35 billion yuan from 1.12 billion yuan, a growth of 20.33%[22] - Derivative financial liabilities increased by 1,103.96% to RMB 8,488,500 due to changes in the fair value of cash flow hedges[9] - Notes payable decreased by 37.93% to RMB 3,846,992,399.87 as a result of the maturity of previously issued bank acceptance bills and an increase in the proportion of electronic debt certificate settlements[9] - Employee compensation payable decreased by 49.85% to RMB 337,555,885.12 due to the payment of year-end bonuses accrued in the previous year[9] - Non-current liabilities due within one year increased by 56.79% to RMB 6,341,949,325.62 as some borrowings by the company and its subsidiaries are due within one year[9] - Other current liabilities increased by 122.43% to RMB 2,744,141,970.08 as subsidiaries endorsed and paid some bills during the reporting period[9] Cash Flow and Financial Expenses - The company's operating cash flow for the first nine months was RMB 2.12 billion, a decrease of 60.51% year-over-year[2] - Financial expenses increased by 226.07% to RMB 333,705,279.72 due to reduced exchange gains and increased interest expenses[10] - Net cash flow from operating activities decreased by 60.51% to RMB 2,116,324,374.61 as the company received payments from customers in the form of bills[11] - Net cash flow from financing activities increased by 185.87% to RMB 3,053,054,889.34 due to long-term borrowings by the company and its subsidiaries[11] - The impact of exchange rate changes on cash and cash equivalents increased by 188.59% to RMB 36,044,171.31 due to fluctuations in the USD to RMB exchange rate[11] - The net increase in cash and cash equivalents decreased by 1,610.59% to RMB -966,295,143.51 due to a decline in net cash flow from operating activities[11] - Cash flow from operating activities was 2,116,324,374.61 RMB, down from 5,358,649,318.89 RMB[28] - Cash flow from investing activities was -6,171,718,578.77 RMB, compared to -6,321,981,455.17 RMB in the previous period[28] - Cash flow from financing activities showed an increase in borrowing, with 9,233,349,714.81 RMB received from loans, up from 5,226,456,514.61 RMB[28] - Cash and cash equivalents at the end of the period amounted to 8,936,786,332.32 RMB[29] - Net cash flow from financing activities was 3,053,054,889.34 RMB[29] - Total cash outflow from financing activities was 6,180,294,825.47 RMB[29] - Cash paid for dividends, profits, or interest payments was 1,546,353,148.60 RMB[29] - Net increase in cash and cash equivalents was -966,295,143.51 RMB[29] - Cash and cash equivalents at the beginning of the period were 9,903,081,475.83 RMB[29] - Impact of exchange rate changes on cash and cash equivalents was 36,044,171.31 RMB[29] - Cash paid for other financing-related activities was 488,691,427.34 RMB[29] Subsidiary Activities and Agreements - The company's subsidiary, Eve Power, signed an agreement to deliver approximately 19.5GWh of square lithium iron phosphate batteries to AESI[20] - The company's subsidiary, Eve Power, was selected by Leapmotor as a development and cooperation supplier for lithium-ion battery cells[20] Employee Compensation and Stock Plans - The company implemented the 11th employee stock ownership plan and the 6th restricted stock incentive plan during the reporting period[20] - The company's total restricted shares at the end of the period amounted to 184,286,851 shares, with 971,545 shares released and 131,626 shares added during the period[18] R&D and Other Expenses - R&D expenses increased to 2.17 billion yuan from 1.94 billion yuan, a growth of 11.89%[24] - Interest expenses increased to 450,614,273.59 RMB, up from 348,245,545.29 RMB in the previous period[25] - Interest income decreased to 127,850,120.09 RMB, down from 149,384,696.25 RMB[25] - Other income decreased to 1,020,919,033.23 RMB, down from 1,512,888,072.60 RMB[25] Current and Non-Current Assets - The company's total current assets as of September 30, 2024, amounted to RMB 40,019,503,958.62, compared to RMB 36,786,436,398.28 at the beginning of the period[21] - The company's monetary funds decreased to RMB 9,488,551,624.71 as of September 30, 2024, from RMB 10,506,208,550.05 at the beginning of the period[21] - The company's trade receivables increased to RMB 12,493,222,676.56 as of September 30, 2024, from RMB 12,427,533,747.50 at the beginning of the period[21] - The company's inventory decreased to RMB 5,924,579,949.11 as of September 30, 2024, from RMB 6,316,007,223.39 at the beginning of the period[21] - The company's total non-current assets as of September 30, 2024, included debt investments of RMB 1,728,466,889.18, compared to RMB 1,689,305,990.12 at the beginning of the period[21] Minority Interests - Minority interests increased to 3.36 billion yuan from 3.27 billion yuan, a growth of 2.65%[24]