Glonghui, April 16 | Western Securities Research Report pointed out that the first quarter results of Ningde Times (300750.SZ) exceeded market expectations, and cash flow was strong. Net operating cash flow reached RMB 28.36 billion in 24Q1, and monetary capital reached RMB 288.6 billion at the end of the period. 24Q1 power energy storage shipments maintained a high year-on-year increase. It is estimated that in '24, the company's power battery shipments will exceed 390 GWh, +22% year over year, energy storage battery shipments will maintain a high growth rate, and net profit per unit will maintain a high level of growth. In addition, the company's Shenxing Battery 24Q1 was delivered to customers on a large scale. Among them, the all-rounder series product first landed on the Xiaomi SU7 PRO, achieving the highest level of battery life of 830 km with lithium iron phosphate for the first time in the industry. In the field of energy storage, the company released the world's first 5-year zero attenuation 6.25 MWh energy storage system. The continuous development and application of high-quality products continues to consolidate the company's leading position. The company's products have obvious technical advantages, a stable leading position, and maintain a “buy” rating.