8-K
CBAK Energy Technology, Inc. (CBAT)
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
November 12, 2024
| ****<br><br> <br>CBAK ENERGY TECHNOLOGY, INC. | ||
|---|---|---|
| (Exact name of registrant as specified in its charter) | ||
| Nevada | 001-32898 | 86-0442833 |
| --- | --- | --- |
| (State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
| BAK Industrial Park, Meigui Street | ||
| --- | ||
| Huayuankou Economic Zone | ||
| Dalian, China, 116450 | ||
| (Address, including zip code, of principal executive offices) | ||
| (86)(411)-3918-5985 | ||
| (Registrant’s telephone number, including area code) | ||
| (Former name or former address, if changed since last report) |
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.001 par value | CBAT | Nasdaq Capital Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written<br>communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br>material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement<br>communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement<br>communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02. Results of Operations
and Financial Condition.
On November 12, 2024, CBAK Energy Technology, Inc. (the “Company”) released its unaudited results of operations for the third quarter ended September 30, 2024. A copy of the press release issued by the Company concerning the foregoing results is furnished hereto as Exhibit 99.1.
The information in Item 2.02 of this Current Report on Form 8-K and the exhibit attached hereto are intended to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. Except as shall be expressly set forth by specific reference in such filing, the information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
ITEM 9.01. Financial Statements
and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release dated November 12, 2024 |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CBAK ENERGY TECHNOLOGY, INC. | ||
|---|---|---|
| Date: November 12, 2024 | By: | /s/ Jiewei<br> Li |
| Jiewei Li | ||
| Chief Financial Officer |
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Exhibit 99.1
CBAK Energy Reports Third Quarter & FirstNine Months of 2024 Unaudited Financial Results
DALIAN, China, November 12, 2024 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”) a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the third quarter 2024 ended September 30, 2024.
First nine months of 2024 Financial Highlights
| ● | Netrevenues from sales of batteries were $113.9 million, an increase of 18.4% from $96.2 million in the same period of 2023. |
|---|---|
| - | Netrevenues from batteries used in light electric vehicles were $8.2 million, an increase of 95% from $4.2 million in the same period<br>of 2023. |
| --- | --- |
| - | Net revenues from batteries used in electric vehicles<br>were $1.0 million, a decrease of 57.1% from $2.4 million in the same period of 2023. |
| --- | --- |
| - | Netrevenues from residential energy supply & uninterruptible supplies were $104.6 million, an increase of 16.8% from $89.5 million<br>in the same period of 2023. |
| --- | --- |
| ● | Grossmargin for the battery business was 34.3%, an increase of 15.2 percentage points from 19.1% in the same period of 2023. |
| --- | --- |
| ● | Netincome from the battery business was $21.6 million, an increase of 222% from $6.7 million in the same period of 2023. |
| --- | --- |
Zhiguang Hu, Chief Executive Officer of the Company, commented, “We are pleased to report a remarkable 18.4% increase in battery sales revenue during the first nine months of the year, especially given the intense competition within the industry. Our battery business has also delivered an impressive gross margin of 34.6% for the same period, positioning us well ahead of all competitors in the battery manufacturing sector, including internationally recognized industry leaders. Despite broader economic challenges, we have successfully achieved a net income of $21.6 million from our battery operations for the first three quarters of the year. We are proud to present this exceptional performance to our shareholders and investors and remain highly confident in our continued growth for the following quarters in this and next years.”
Jiewei Li, Chief Financial Officer and Secretary of the Board of the Company, added, “As Mr. Hu highlighted, our financial performance for the first three quarters has been exceptionally strong, setting a new benchmark within the industry. While our Dalian facility has continued to generate consistent profits, we are particularly pleased to report that our Nanjing facility—just operating for less than three years with a new battery model—has become profitable as of Q3. The demand and order volumes at the Nanjing plant have far surpassed its current capacity, leading to full-day operations across all production lines. In response to this robust client demand, we have secured procurement agreements with our equipment suppliers and are set to expand the production at our Nanjing Phase II project, adding an additional 2.5 to 3 GWh of capacity by next year.”
Third Quarter of 2024 Financial Results
Net revenues^1^ were $44.6 million, representing a decrease of 29.7% compared to $63.4 million in the same period of 2023. This decrease in revenues was due to the fact that the Dalian factory had been operating at full capacity since the beginning of the year, which resulted in a one-month suspension for maintenance in the third quarter. In addition to that, Hitrans is facing suboptimal business performance.
Among these revenues, detailed revenues from our battery business are:
| Battery Business | 2024<br> Third<br> Quarter | % Change<br> YoY | ||||||
|---|---|---|---|---|---|---|---|---|
| Net Revenues () | 44,327,653 | 33,461,793 | (25 | ) | ||||
| Gross Profits () | 11,698,226 | 7,665,009 | (31 | ) | ||||
| Gross Margin | 26.4 | % | 22.9 | % | - | |||
| Net Income () | 7,770,711 | 2,035,338 | - | |||||
| Net Revenues from Battery Business on Applications () | ||||||||
| Electric Vehicles | 402,863 | 333,216 | (17 | ) | ||||
| Light Electric Vehicles | 1,114,107 | 4,913,644 | 341 | |||||
| Residential Energy Supply & Uninterruptable supplies | 42,810,683 | 28,214,934 | (34 | ) | ||||
| Total | 63,441,109 | 44,628,241 | (30 | ) |
All values are in US Dollars.
| ^1^ | Net<br>revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired in 2021, an independently managed<br>raw materials business. |
|---|
Cost of revenues was $37.7 million, representing a decrease of 26.4% from $51.2 million in the same period of 2023. The decrease in the cost of revenues corresponds to the decrease of net revenues.
Gross profit was $7.0 million, representing a decrease of 43% from $12.2 million in the same period of 2023. Gross margin was 15.6%, compared to 19.3% in the same period of 2023.
Total operating expenses were $7.8 million, representing an increase of 12% from $7.0 million in the same period of 2023.
| ● | Researchand development expenses was $3.4 million, an increase of 36% from $2.5 million in the same period of 2023. |
|---|---|
| ● | Salesand marketing expenses were $1.0 million, a slightly decrease of 8% from $1.1 million in the same period of 2023. |
| --- | --- |
| ● | Generaland administrative expenses were $2.8 million, a decrease of 14% from $3.2 million in the same period of 2023. |
| --- | --- |
| ● | Recoverof doubtful accounts was $0.55 million, compared to a provision of doubtful accounts of $0.25 million in the same period of 2023. |
| --- | --- |
Operating loss amounted to $0.83 million, compared to an operating income of $5.3 million in the same period of 2023.
Finance income, net amounted to $40,350, compared to $0.4 million in the same period of 2023.
Change in fair value of warrants was nil, compared to $15,000 in the same period of 2023.
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Net loss attributable to shareholders of CBAKEnergy was $0.2 million, compared to net income attributable to shareholders of CBAK Energy of $6.3 million in the same period of 2023.
Net income attributable to shareholders ofCBAK Energy (after deducting the change in fair value of warrants) was $17,647, compared to a net income of $6.2 million in the same period of 2023, mainly due to the fact that our acquired raw material manufacturing unit, Hitrans, is in net loss.
Basic and diluted income per share were both nil, compared to basic and diluted loss per share of $0.07 in 2023.
First nine months of 2024 Financial Results
Net revenues^1^ were $151.2 million, representing an increase of 2.0% compared to $148.3 million in the same period of 2023. This increase was primarily attributable to an increase in revenue from the Company’s battery business.
Among these revenues, detailed revenues from our battery business are:
| Battery Business | 2024<br> First<br> nine months | % Change<br> YoY | |||||
|---|---|---|---|---|---|---|---|
| Net Revenues () | 96,163,040 | 113,897,786 | 18.4 | ||||
| Gross Profits () | 18,336,732 | 39,040,824 | 109.5 | ||||
| Gross Margin | 19.0 | % | 34.3 | % | - | ||
| Net (Loss) Income () | 6,746,883 | 21,610,408 | - | ||||
| Net Revenues from Battery Business on Applications () | |||||||
| Electric Vehicles | 2,358,842 | 1,012,655 | -57.0 | ||||
| Light Electric Vehicles | 4,230,066 | 8,249,437 | 95.0 | ||||
| Residential Energy Supply & Uninterruptable supplies | 89,574,132 | 104,635,694 | 16.8 | ||||
| Total | 96,163,040 | 113,897,786 | 18.4 |
All values are in US Dollars.
| ^1^ | Net<br>revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired in 2021, an independently managed<br>raw materials business. |
|---|
Cost of revenues was $112.8 million, representing a decrease of 12.7% from $129.2 million in the same period of 2023. The decrease in the cost of revenues corresponds to theCompany’s higher gross profit from the battery business.
Gross profit was $38.5 million, representing an increase of 102.0% from $19.0 million in the same period of 2023. Gross margin was 25.4%, compared to 12.8% in the same period of 2023.
Total operating expenses were $23.1 million, representing an increase of 13.1% from $20.4 million in the same period of 2023.
| ● | Researchand development expenses were $9.2 million, an increase of 14.9% from $8.0 million in the same period of 2023. |
|---|
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| ● | Salesand marketing expenses were $4.1 million, an increase of 46.9% from $2.8 million in the same period of 2023. |
|---|---|
| ● | Generaland administrative expenses were $10.0 million, an increase of 7.5% from $9.3 million in the same period of 2023. |
| --- | --- |
| ● | Recoveryof doubtful accounts was $0.2 million, compared to a provision for doubtful accounts of $0.3 million in the same period of 2023. |
| --- | --- |
Operating income amounted to $15.4 million, compared to an operating loss of $1.4 million in the same period of 2023.
Finance income, net amounted to $0.6, compared to $0.2 million finance expenses in the same period of 2023.
Change in fair value of warrants was nil, compared to $0.14 million in the same period of 2023.
Net income attributable to shareholders ofCBAK Energy was $16.3 million, compared to net income attributable to shareholders of CBAK Energy of $2.3 million in the same period of 2023.
Net income attributable to shareholders ofCBAK Energy (after deducting the change in fair value of warrants) was $16.3 million, compared to a net income of $2.1 million in the same period of 2023, mainly due to the strong performance of our battery business.
Basic and diluted income per share were both $0.18, compared to basic and diluted loss per share of $0.03 in 2023.
Conference Call
CBAK Energy’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Tuesday, November 12, 2024 (9:00 PM Beijing/Hong Kong Time on November 12, 2024).
For participants who wish to join our call online, please visit: https://edge.media-server.com/mmc/p/sepoc69g
Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions.
Participant Online Registration: https://register.vevent.com/register/BI35d99553511e4d63bffc9c7d4409bcec
Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.
A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/sepoc69g
The earnings release and the link for the replay are available at ir.cbak.com.cn.
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About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn
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CBAK Energy Technology, Inc. and Subsidiaries
Condensed consolidated Balance Sheets
As of December 31, 2023 and September 30, 2024
(Unaudited)
(In US$ except for number of shares)
| September 30,<br> 2024 | |||||
|---|---|---|---|---|---|
| (Unaudited) | |||||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | 4,643,267 | $ | 10,448,362 | ||
| Pledged deposits | 54,179,549 | 37,415,946 | |||
| Short-term deposits | - | 13,788,170 | |||
| Trade and bills receivable, net | 28,653,047 | 34,910,784 | |||
| Inventories | 33,413,422 | 23,938,925 | |||
| Prepayments and other receivables | 7,459,254 | 9,950,350 | |||
| Receivables from a former subsidiary, net | 74,946 | 7,580 | |||
| Total current assets | 128,423,485 | 130,460,117 | |||
| Property, plant and equipment, net | 91,628,832 | 89,365,457 | |||
| Construction in progress | 37,797,862 | 38,993,618 | |||
| Long-term investments, net | 2,565,005 | 2,336,537 | |||
| Prepaid land use rights | 11,712,704 | 11,601,078 | |||
| Intangible assets, net | 841,360 | 507,113 | |||
| Deposit paid for acquisition of long-term investments | 7,101,492 | 16,500,192 | |||
| Operating lease right-of-use assets, net | 1,084,520 | 3,713,242 | |||
| Total assets | 281,155,260 | $ | 293,477,354 | ||
| Liabilities | |||||
| Current liabilities | |||||
| Trade and bills payable | 82,429,575 | $ | 89,773,942 | ||
| Short-term bank borrowings | 32,587,676 | 25,708,098 | |||
| Other short-term loans | 339,552 | 337,147 | |||
| Accrued expenses and other payables | 41,992,540 | 35,144,908 | |||
| Payables to a former subsidiary, net | 411,111 | 407,560 | |||
| Deferred government grants, current | 375,375 | 499,861 | |||
| Product warranty provisions | 23,870 | 17,099 | |||
| Operating lease liability, current | 691,992 | 1,527,829 | |||
| Finance lease liability, current | 1,643,864 | 762,694 | |||
| Income tax payable | - | 343,856 | |||
| Total current liabilities | 160,495,555 | 154,522,994 | |||
| Deferred government grants, non-current | 6,203,488 | 5,778,875 | |||
| Product warranty provisions | 522,574 | 410,350 | |||
| Operating lease liability, non-current | 475,302 | 2,683,772 | |||
| Total liabilities | 167,696,919 | 163,395,991 | |||
| Commitments and contingencies | |||||
| Shareholders’ equity | |||||
| Common stock 0.001 par value; 500,000,000 authorized; 90,063,396 issued and 89,919,190 outstanding as of December 31, 2023 and 90,083,396 issued and 89,919,190 outstanding as of September 30, 2024 | 90,063 | 90,083 | |||
| Donated shares | 14,101,689 | 14,101,689 | |||
| Additional paid-in capital | 247,465,817 | 247,732,612 | |||
| Statutory reserves | 1,230,511 | 1,230,511 | |||
| Accumulated deficit | (134,395,762 | ) | (118,096,203 | ) | |
| Accumulated other comprehensive loss | (11,601,403 | ) | (10,127,774 | ) | |
| 116,890,915 | 134,930,918 | ||||
| Less: Treasury shares | (4,066,610 | ) | (4,066,610 | ) | |
| Total shareholders’ equity | 112,824,305 | 130,864,308 | |||
| Non-controlling interests | 634,036 | (782,945 | ) | ||
| Total equity | 113,458,341 | 130,081,363 | |||
| Total liabilities and shareholder’s equity | 281,155,260 | $ | 293,477,354 |
All values are in US Dollars.
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CBAK Energy Technology, Inc. and Subsidiaries
Condensed consolidated Statements of Operationsand Comprehensive Income (Loss)
For the three and nine months ended September30, 2023 and 2024
(Unaudited)
(In US$ except for number of shares)
| Three months ended<br> September 30, | Nine months ended <br> September 30, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2024 | 2023 | 2024 | |||||||||
| Net revenues | $ | 63,441,109 | $ | 44,628,241 | $ | 148,258,680 | $ | 151,243,718 | ||||
| Cost of revenues | (51,192,531 | ) | (37,673,684 | ) | (129,219,716 | ) | (112,780,088 | ) | ||||
| Gross profit | 12,248,578 | 6,954,557 | 19,038,964 | 38,463,630 | ||||||||
| Operating expenses: | ||||||||||||
| Research and development expenses | (2,577,714 | ) | (3,434,351 | ) | (8,013,760 | ) | (9,205,378 | ) | ||||
| Sales and marketing expenses | (1,116,377 | ) | (1,022,549 | ) | (2,800,969 | ) | (4,114,954 | ) | ||||
| General and administrative expenses | (3,240,770 | ) | (2,779,519 | ) | (9,302,798 | ) | (10,002,040 | ) | ||||
| (Provision for) recovery of doubtful accounts | (24,623 | ) | (546,011 | ) | (286,283 | ) | 241,332 | |||||
| Total operating expenses | (6,959,484 | ) | (7,782,430 | ) | (20,403,810 | ) | (23,081,040 | ) | ||||
| Operating income (loss) | 5,289,094 | (827,873 | ) | (1,364,846 | ) | 15,382,590 | ||||||
| Finance (expense) income, net | (447,031 | ) | (40,350 | ) | (189,248 | ) | 658,034 | |||||
| Other income, net | 601,654 | 521,916 | 1,022,907 | 1,031,329 | ||||||||
| Gain on disposal of equity investee | - | 55 | - | 26,967 | ||||||||
| Change in fair value of warrants | 15,000 | - | 136,000 | - | ||||||||
| Income (loss) before income tax | 5,458,717 | (346,252 | ) | (395,187 | ) | 17,098,920 | ||||||
| Income tax credit (expenses) | 305,431 | (339,287 | ) | 1,015,626 | (2,188,800 | ) | ||||||
| Net income (loss) | 5,764,148 | (685,539 | ) | 620,439 | 14,910,120 | |||||||
| Less: Net loss attributable to non-controlling interest | 570,644 | 703,186 | 1,699,008 | 1,389,439 | ||||||||
| Net income (loss) attributable to CBAK Energy Technology, Inc. | $ | 6,334,792 | $ | 17,647 | $ | 2,319,447 | $ | 16,299,559 | ||||
| Net income (loss) | 5,764,148 | (685,539 | ) | 620,439 | 14,910,120 | |||||||
| Other comprehensive loss | ||||||||||||
| – Foreign currency translation adjustment | (515,279 | ) | 4,181,904 | (6,405,609 | ) | 1,446,087 | ||||||
| Comprehensive (loss) income | 5,248,869 | 3,496,365 | (5,785,170 | ) | 16,356,207 | |||||||
| Less: Comprehensive (loss) income attributable to non-controlling interest | 553,874 | 719,587 | 1,927,515 | 1,416,981 | ||||||||
| Comprehensive (loss) income attributable to CBAK Energy Technology, Inc. | $ | 5,802,743 | $ | 4,215,952 | $ | (3,857,655 | ) | $ | 17,773,188 | |||
| Income (loss) per share | ||||||||||||
| – Basic | $ | 0.07 | $ | 0.00 | $ | 0.03 | $ | 0.18 | ||||
| – Diluted | $ | 0.07 | $ | 0.00 | $ | 0.03 | $ | 0.18 | ||||
| Weighted average number of shares of common stock: | ||||||||||||
| – Basic | 89,473,026 | 89,931,617 | 89,171,988 | 89,929,477 | ||||||||
| – Diluted | 89,904,319 | 90,229,849 | 89,582,401 | 90,267,431 |
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