Farasis Energy's revenue increased by 41.8% in 2023, with a net loss of 1.741 billion yuan

Power battery manufacturer Farasis Energy achieved revenue of 16.436 billion yuan in 2023, a year-on-year increase of 41.8%, but a net loss of 1.741 billion yuan. Since its listing, the company has accumulated losses of 3.9628 billion yuan. Although the net cash flow from operating activities has turned positive, in the first quarter of 2024, revenue decreased, net profit was still negative, and net cash flow was also negative. The main reasons are the decline in product unit prices, the increase in financial expenses and investment losses.