Ningde Times responded to the fall in raw material prices: the impact has been fully considered and there is no risk of significant impairment.

CTOnews.com April 24 news, Ningde Times today (April 24) responded to investors' questions about the impact of falling raw material prices on the company's performance. The company said that at the end of 2022, the company had fully taken into account the impact of market price factors. In accordance with the provisions of the Accounting Standards for Enterprises, if the cost of inventory is higher than its net realizable value, the corresponding provision for inventory price decline shall be made.

At the same time, Ningde Times set up an inventory management committee to control the inventory from the top, flexibly adjust the purchase volume according to seasonal changes, improve inventory utilization and turnover efficiency, and in the material price downward cycle, the company has promoted rapid destocking and shortening the procurement cycle. The company continues to promote competitive products on the market, while maintaining a reasonable level of profit, there is no significant impairment.

Investors also asked Ningde Times, does the company have a hydrogen energy business? What do you think of hydrogen energy development? In response, Ningde Times Company replied, "hydrogen has a very low volume energy density at room temperature, and high-pressure storage tanks are needed for storage. Energy is converted by conversion. First, electric energy is converted into hydrogen, and then it is converted into electricity through hydrogen combustion." it involves a lot of infrastructure, a wide area, low conversion efficiency and other factors, the work is relatively complex, and the cost is relatively high. We believe that the electrochemical energy storage of lithium battery and sodium battery has more cost advantage when the material price is suitable. "

CTOnews.com noted that the price of battery-grade lithium carbonate has continued to fall this year and has now fallen below 180000 yuan per ton. In the first quarter, Ningde Times handed over a perfect answer: the operating income was 89.038 billion yuan, an increase of 82.91% over the same period last year, and the net profit was 9.822 billion yuan, an increase of 557.97% over the same period last year.