Preface
On October 26, EVE (stock code: 300014) announced the "Third Quarter Report of 2023". According to the report, from January to September 2023, the company achieved a total revenue of 35.529 billion yuan, a year-on-year increase of 46.31%, a net profit attributable to the parent company of 3.424 billion yuan, a year-on-year increase of 28.47%, and a basic earnings per share (yuan/share) of 0.62 yuan.
Total revenue and net profit over the years
From 2019 to the third quarter of 2023, the company achieved total revenue of 2.047 billion yuan, 2.164 billion yuan, 4.888 billion yuan, 9.357 billion yuan and 12.553 billion yuan respectively, with year-on-year changes of 81.94%, 5.68%, 125.9%, 91.43% and 34.16% respectively.
In the first three quarters of 2019-2023, the company achieved total revenue of 4.577 billion yuan, 5.34 billion yuan, 11.448 billion yuan, 24.283 billion yuan and 35.529 billion yuan respectively, with year-on-year changes of 52.12%, 16.66%, 114.39%, 112.12% and 46.31% respectively.
From 2019 to the third quarter of 2023, the company achieved net profit attributable to the parent company of 658 million yuan, 583 million yuan, 721 million yuan, 1.306 billion yuan and 1.273 billion yuan respectively, with year-on-year changes of 199.23%, -11.44%, 23.7%, 81.18% and -2.53% respectively.
In the first three quarters of 2019-2023, the company achieved net profit attributable to the parent company of 1.159 billion yuan, 946 million yuan, 2.216 billion yuan, 2.666 billion yuan and 3.224 billion yuan respectively, with year-on-year changes of 205.94%, -18.35%, 134.18%, 20.3% and 28.47% respectively.
With the expansion of the company's operating scale and the impact of foreign exchange gains and losses, the company's period expenses increased year-on-year. From January to September 2023, the company incurred sales expenses of 474 million yuan, a year-on-year increase of 52.6%, administrative expenses of 712 million yuan, a year-on-year increase of 28.45%, R&D expenses of 1.941 billion yuan, a year-on-year increase of 35.61%, and financial expenses of 102 million yuan, a year-on-year increase of 1034.94%.
Summary of the charging head network
From January to September 2023, the company's total revenue increased by 46.31% year-on-year, and the net profit attributable to the parent company increased by 28.47% year-on-year, and in a single quarter, the company's total revenue in the third quarter increased by 34.16% year-on-year and 6.47% quarter-on-quarter, and the net profit attributable to the parent company in the third quarter decreased by 2.53% year-on-year and increased by 25.91% quarter-on-quarter. The rapid growth of the company's performance is mainly due to the company's high-quality development strategy, continuing to increase the research and development of new technologies and new products, supporting the rapid growth of the main business, and maintaining stable supply capacity as the new factory and new production line enter the mass production stage, bringing a year-on-year increase in operating income.
During the reporting period, the company is continuously increasing its R&D investment in the main business of lithium batteries, cultivating a R&D team of more than 4,000 people, building a high-level research institute, and building a number of laboratories and pilot lines. From January to September 2023, R&D expenses were 1.941 billion yuan, a year-on-year increase of 35.61%.
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