"Electric Eel Finance" electric eel number/text
"Electric Eel Finance" learned that Dow Technology focuses on the new material business, focusing on material innovation, process innovation, and product innovation. The company's business layout has developed from a single ceramic material business to a new pattern of "carbon materials + lithium battery materials + ceramic materials + strategic resources".
Dow Technology Growth Ability Indicator Screenshot from Oriental Fortune
Dow Technologies Annual Report 2023
"Electric Eel Finance" paid attention to the fact that Dow Technology landed on the GEM of the Shenzhen Stock Exchange in December 2014, and from 2014 to 2022, the company's net profit attributable to shareholders of listed companies has always remained profitable. On April 24, 2024, Dow Technology released its latest annual report, and the company's total operating income in 2023 will be 7295.6408 million yuan, a year-on-year increase of 6.32%; overseas sales revenue was 4315.2101 million yuan, a year-on-year increase of 195.06%; net profit attributable to shareholders of listed companies was -27.894 million yuan, down 132.36% year-on-year; The net profit after deducting non-recurring gains and losses was -51.7223 million yuan, a year-on-year decrease of 183.50%, and Dow Technology ushered in a loss for the first time in more than nine years since its listing.
Dow Technology pointed out in its annual report that in 2023, affected by the intensification of market competition in the lithium battery industry, fluctuations in raw material prices and impairment of the company's assets, the company's performance showed a slight increase in operating income and a decline in profitability. The main reason for the change in operation is that, on the one hand, based on the principle of prudence, the company has made sufficient impairment provisions for some inventory, fixed assets, construction in progress, goodwill and other related assets; On the other hand, after the new construction base was put into operation, the capacity utilization rate was low during the ramp-up stage, resulting in an increase in manufacturing expenses.
Dow Technologies' 2023 asset impairment provision
According to the announcement of the 2023 asset impairment provision and asset write-off issued by Dow Technology, in 2023, the company's consolidated statements will provide for asset impairment and credit impairment of 146.8436 million yuan.
Although there will be a loss in 2023, "Electric Eel Finance" pays attention to the fact that Dow Technology has deeply laid out the iterative technology and cutting-edge products of new energy battery materials, and has built an integrated industrial chain of "nickel and cobalt resources, smelting business, cathode materials, anode materials, conductive agent materials, and battery recycling". The company also pays close attention to the development of cutting-edge technologies and broadens the field of materials business, such as AI+ materials, semiconductor materials, precision ceramic materials, etc. In addition, the company is also actively exploring the creation of the third growth curve, injecting strong impetus into the company's medium and long-term development.
On the other hand, with the completion of the in-depth rectification and governance of Dow Technology after the merger and acquisition of lithium battery materials and carbon materials business, the two sectors have shown good results in terms of manpower, research and development, production, procurement, market development, etc., the substantial growth of shipments in the overseas Korean market has brought a significant increase in overseas operating income, and the rapid release of African copper cathode production capacity and profitability, the company's operation is changing. "Electric Eel Finance" will continue to pay attention to the future overseas business development of Dow Technology and its overall performance.