Guoxuan Hi-Tech: 2017 net profit decreased by 18.71% year-on-year

Yesterday (26th), Guoxuan Hi-Tech announced its 2017 annual report. The annual operating income was 4.838 billion Yuan, up 1.68% year-on-year; the net profit was 838 million Yuan, down 18.71% year-on-year. Among them, the annual revenue of the power lithium battery business was 4.06 billion Yuan, accounting for 83.93% of total operating income.

The increase in production volume was 52.08% year-on-year, mainly due to the release of the production capacity of the new production line in the previous period; the inventory increased by 483.37% year-on-year, which was mainly due to the increase in production in the fourth quarter and the corresponding increase in the volume of stock.

For the future business objectives, Guoxuan Hi-Tech said that in 2018, it will continue to increase investment in research and development, lithium iron phosphate battery capacity to reach the international leading level, ternary battery on the basis of fully ensuring product safety, product design and system energy density at the domestic leading level, the three generations of standard box products achieve lightweight design, multi-pole safety protection, group efficiency of more than 80%.

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