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Ningbo Ronbay New Energy Technology (688005): Q3 performance exceeds expectations, overseas customers increase significantly, looking ahead to solid-state electrolyte layout.
Company announcement: In the first three quarters of 2024, the company achieved operating income, net profit attributable to shareholders, and non-recurring net income of 11.3 billion yuan, 0.116 billion yuan, and 0.089 billion yuan, respectively, a year-on-year decrease of 39%, 81%, and 84% respectively. Q3
Ningbo Ronbay New Energy Technology (688005) 2024 Third Quarter Report Review: Q3 profit significantly improved, overseas factories are about to reach full production.
Investment highlights: Performance slightly exceeded expectations. The company's revenue for Q1-3 of 24 was 11.3 billion yuan, -39% year-on-year, with a net income attributable to the parent company of 0.12 billion yuan, -81% year-on-year, gross margin of 9%, up 0.4 percentage points, and a net margin of 1%, -2 percentage points year-on-year.
Third Quarter Report 2024
ningbo ronbay new energy technology (688005.SH): net income of 0.116 billion yuan in the first three quarters, a decrease of 81.10% year-on-year.
Rongbai New Energy Technology (688005.SH) announced on October 29 that in the first three quarters of 2024, it achieved revenue of 11.323 billion yuan, a decrease of 39.04% year-on-year; net income attributable to shareholders of the listed company was 0.116 billion yuan, a decrease of 81.10% year-on-year; basic earnings per share was 0.24 yuan. In the third quarter of 2024, revenue was 4.436 billion yuan, a decrease of 21.91% year-on-year; net income attributable to shareholders of the listed company was 0.106 billion yuan, a decrease of 55.15% year-on-year; basic earnings per share was 0.22 yuan.
Ningbo Ronbay New Energy Technology (688005.SH): The developed high-nickel, ultra-high-nickel polycrystalline and monocrystalline ternary cathode materials are at the international leading level.
Ningbo Ronbay New Energy Technology (688005.SH) stated on the interactive platform on October 14 that the company's developed high-nickel, ultra-high-nickel polycrystalline and monocrystalline ternary cathode materials are at the international leading level, and have successfully entered the top battery factories in Japan and South Korea, as well as the mainstream vehicle supply chains in Europe and North America, with the proportion of overseas shipments continuing to increase. With the increase in demand for large cylindrical battery mass production, pedestrian robots, low-altitude flights, and other high-energy-density products, the sales of the company's ultra-high-nickel 9 series products are also continuously increasing. As the first domestic cathode material enterprise to construct a high-nickel cathode material production project overseas, the company's South Korea base has been completed with a capacity of 0.02 million tons.
Ningbo Ronbay New Energy Technology (688005.SH): The company has completed the development of various solid electrolyte materials.
On September 23, Ningbo Ronbay New Energy Technology (688005.SH) stated on the interactive platform that the company has completed the development of various solid-state electrolyte materials, including sulfide solid-state electrolyte, oxide solid-state electrolyte, halide solid-state electrolyte, etc. Among them, the solid-state battery sulfide electrolyte meets the international customers' requirements in terms of capacity indicators and charge-discharge efficiency, and is currently in the pilot verification stage.
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