Core Viewpoint - Huichuan Technology (300124) announced on October 27 that its overseas business is expected to contribute an order volume of approximately 900 million to 1 billion yuan from January to September 2025, representing a year-on-year growth of over 50% [1] Group 1 - The company reported a significant increase in order volume for its overseas business, indicating strong growth potential [1] - The projected order volume for the specified period is between 900 million and 1 billion yuan, showcasing the scale of operations [1] - The year-on-year growth rate of over 50% highlights the company's expanding market presence and operational success [1]

Core Viewpoint - Huichuan Technology (300124) announced on October 27 that its subsidiary, United Power (301656), experienced nearly 50% growth in overseas business from January to September, surpassing domestic growth rates. The overseas market is identified as a key growth area for the future, with products and solutions covering power supply, electronic control, motors, and powertrains [1] Group 1 - United Power's overseas business growth reached nearly 50% in the first nine months of the year [1] - The growth rate of overseas business is higher than that of domestic business [1] - The overseas market is positioned as the core growth market for the future [1] Group 2 - The product and solution offerings include power supply, electronic control, motors, and powertrains [1]

Core Viewpoint - The company reported that its general automation business has seen improved operational efficiency and a rising core profit margin in the first three quarters of the year [1] Group 1: Business Performance - The core profit margin of the company continues to rise [1] - Price competition has eased compared to the same period last year, but there is still downward pressure on product prices [1] - The overall gross margin remains stable due to the rapid growth of high-margin products (such as PLC), product structure optimization, and cost control in the supply chain [1] Group 2: Inventory and Market Conditions - Distributor inventory is at a normal level, with no signs of stockpiling [1]

Core Viewpoint - Huichuan Technology (300124) announced on October 27 that its smart chassis and steering control systems are high-value and high-tech differentiated sectors, but they also face cost transmission pressures from vehicle manufacturers [1] Group 1: Company Insights - Huichuan Technology, through its subsidiary Huichuan United Power (301656), leverages its expertise in motors, power electronics, and machinery to potentially offer competitive solutions in the smart chassis and steering control market [1] - The company acknowledges that while it is currently difficult to quantify the gross margin of this new business compared to existing products, it is a field where the company excels and has good development potential [1]

Core Insights - The company reported positive order growth across the majority of its 40+ downstream industries in the third quarter, indicating a recovery in external demand and enhanced competitiveness [1] - Industries that previously experienced declines, such as paper, chemicals, metallurgy, semiconductors, woodworking, textiles, and silicon, have also returned to positive growth [1] - The company's market share increase is primarily attributed to the replacement of foreign brands, particularly in the automotive equipment and semiconductor sectors, achieved through solutions focused on control and drive capabilities [1]

Core Viewpoint - Huichuan Technology announced on October 27 that its overall net profit margin is affected by changes in business structure, but it aims to maintain stable gross margins in its core general automation business through various measures [1] Group 1: Business Strategy - The company plans to optimize product structure, enhance operational efficiency, and reduce procurement costs to address market price competition pressure [1] - Future investments will focus on strategic business areas while strictly controlling expense ratios [1] Group 2: Financial Goals - The medium to long-term goal is to achieve a steady increase in net profit margin levels [1]

Core Viewpoint - Huichuan Technology announced on October 27 that digital energy management is positioned above traditional energy storage business, focusing on building a digital energy management platform to manage energy structure and efficient utilization [1] Group 1: Digital Energy Management - The core of digital energy management is to create a platform that enables the management of energy structure and efficient utilization [1] - Energy storage is part of the solution, but digital energy management also integrates high-energy-consuming enterprises' production processes with energy-saving technologies [1] - The introduction of automation products and technologies aims to enhance energy utilization efficiency [1]

Core Viewpoint - Company emphasizes internationalization as a key strategy, focusing on research, production, sales, and investment [1] Group 1: International Operations - Company has invested over 700 personnel in overseas operations [1] - Factories are being established in Hungary and North America, with ongoing investments [1] Group 2: Research and Development - Company is increasing efforts in developing safety products and products that meet European and North American standards [1] Group 3: Strategic Initiatives - Company is actively seeking suitable acquisition targets to enhance its investment and merger strategy [1] - Plans to implement measures such as expanding production bases, building research centers, and increasing offices to support global layout strategy [1]

Core Viewpoint - The acquisition of ABB's robotics business by SoftBank reflects the increasing competitiveness of Chinese companies in the six-axis robot sector, indicating that international giants are facing pressure from the rise of Chinese robotics firms [1] Group 1: Industry Insights - The high-end market, particularly in the automotive sector, is currently dominated by foreign companies, but it represents the largest potential replacement market in the future [1] - Chinese companies are gradually penetrating high-end application fields as they mature in robot body performance and technical solutions [1] Group 2: Company Strategy - The company plans to focus on the development of "AI + Vision" technology and aims to deeply integrate it into industrial robots to enhance intelligence levels [1] - The company is positioning itself to seize significant development opportunities in the robotics sector [1]

（编辑 袁冠琳） 证券日报网讯 汇川技术10月27日发布公告，在公司回答调研者提问时表示，在软件布局方面，公司并 不直接研发大模型，但会积极应用开源大模型。在智能机器人软件方面，公司重点投入两个方向：一是 视觉技术，已将视觉与机器人团队合并，旨在推动视觉与控制端的融合，形成更好的解决方案；二是运 动控制技术，强调将末端运动控制能力与大模型结合，提升精细操作的实现效果。公司正持续加大在视 觉、运动控制与大模型融合方面的投入，以实现软硬件协同优势。 ...