Revenue and Profit Performance - Revenue for the third quarter reached 9.214 billion yuan, a year-on-year increase of 20.13%[3] - Net profit attributable to shareholders was 1.236 billion yuan, a slight decrease of 0.54% compared to the same period last year[3] - Revenue for the first nine months of 2024 reached 25.397 billion yuan, a year-on-year increase of 26.22%[12] - Net profit for the first nine months of 2024 was 3.415 billion yuan, a year-on-year increase of 2.08%[12] - Revenue from the new energy vehicle business surged to 10.4 billion yuan, a year-on-year increase of 96%[12] - General automation business (including industrial robots) generated revenue of 10.9 billion yuan, a year-on-year increase of 4%[12] - Smart elevator business revenue declined by 6% to 3.6 billion yuan[12] - Rail transit business revenue decreased by 9% to 340 million yuan[12] - Total revenue for the period reached 25,397,421,789.27 RMB, compared to 20,121,204,085.32 RMB in the same period last year[21] - Revenue for the current period reached 1,344,012,950.44 RMB, a 16.98% increase compared to the previous period's 1,149,086,138.66 RMB[22] - Net profit attributable to the parent company's shareholders was 3,353,827,529.06 RMB, up 1.04% from the previous period's 3,319,367,588.06 RMB[22] - Net profit attributable to the parent company's owners increased to 17,264,783,907.94 RMB from 15,115,703,056.43 RMB[20] Cash Flow and Financial Position - Operating cash flow for the first nine months surged to 3.857 billion yuan, up 166.22% year-on-year[3] - Net cash flow from operating activities increased by 166.22% to 3.857 billion yuan, driven by higher sales receipts[11] - Cash flow from operating activities increased by 166.29% to 3,856,715,361.66 RMB compared to 1,448,720,281.76 RMB in the previous period[24] - Sales revenue from goods and services received in cash amounted to 21,393,390,802.67 RMB, a 37.86% increase from the previous period's 15,518,516,163.09 RMB[24] - Investment activities generated a cash inflow of 12,827,312,224.82 RMB, a 139.31% increase compared to the previous period's 5,360,615,665.53 RMB[24] - Cash received from tax refunds increased by 5.00% to 483,571,451.56 RMB compared to 460,563,155.49 RMB in the previous period[24] - Net cash flow from investment activities was -6.72 billion CNY, compared to -243.90 million CNY in the previous period[25] - Cash inflow from financing activities was 3.06 billion CNY, slightly lower than 3.09 billion CNY in the previous period[25] - Net cash flow from financing activities was -2.22 billion CNY, compared to -1.29 billion CNY in the previous period[25] - Cash and cash equivalents decreased by 5.10 billion CNY, compared to a decrease of 107.70 million CNY in the previous period[25] - Ending cash and cash equivalents balance was 3.44 billion CNY, down from 5.86 billion CNY in the previous period[25] Asset and Liability Changes - Total assets increased by 8.38% to 53.059 billion yuan compared to the end of the previous year[3] - Fixed assets grew by 31.44% to 6.202 billion yuan due to the completion of construction projects[8] - Prepaid expenses rose by 74.92% to 673.431 million yuan, driven by increased material procurement[8] - Other receivables surged by 315.92% to 195.966 million yuan, mainly due to increased receivables from subsidiary relocation[8] - Long-term prepaid expenses increased by 55.66% to 315.765 million yuan, attributed to factory renovation and other expenses[9] - Other non-current assets soared by 305.07% to 7.227 billion yuan, primarily due to increased long-term fixed deposits and interest[9] - Total assets increased to 53,059,386,418.71 RMB from 48,957,564,055.31 RMB at the beginning of the period[19][20] - Fixed assets grew significantly to 6,202,340,590.72 RMB from 4,718,701,156.38 RMB[19] - Long-term loans increased to 2,906,722,910.11 RMB from 2,345,229,083.70 RMB[20] - Total liabilities rose to 26,154,987,663.73 RMB from 23,956,572,496.50 RMB[20] - Other non-current financial assets increased to 2,619,161,269.71 RMB from 2,385,329,172.60 RMB[19] - Contract liabilities grew to 1,027,911,705.53 RMB from 870,689,328.69 RMB[19] - Total equity attributable to the parent company's owners increased to 26,473,524,797.94 RMB from 24,481,893,916.24 RMB[20] - The company's total assets grew to 2,205,661,286.74 RMB, an 8.56% increase from the previous period's 2,031,495,892.16 RMB[22] Operating Costs and Expenses - Operating costs increased by 35.59% to 17.52 billion yuan due to higher sales and changes in product mix[10] - Total operating costs amounted to 22,278,166,879.08 RMB, up from 17,142,337,126.18 RMB in the previous year[21] - Financial expenses decreased by 427.34% to -22.61 million yuan, primarily due to increased bank interest income[10] - Other income increased by 6.84% to 525,131,414.36 RMB compared to 491,530,969.69 RMB in the previous period[22] Shareholder and Share Information - The total number of restricted shares at the end of the period is 411,049,451 shares, with an increase of 71,015,251 shares during the quarter[17] - The total number of shares held by the top 10 shareholders and top 10 unrestricted shareholders participating in the securities lending business is 53,266,682 shares, accounting for 1.9889% of the total share capital[15] - The total number of shares held by the top 10 shareholders and top 10 unrestricted shareholders at the end of the period is 35,356,496 shares, representing 1.3202% of the total share capital[15] - The total number of shares held by the top 10 shareholders and top 10 unrestricted shareholders at the end of the period is 23,798,603 shares, accounting for 0.8886% of the total share capital[15] Other Financial Metrics - Other comprehensive income decreased by 109.27% to -1.342 million yuan, impacted by foreign exchange rate fluctuations[9] - The company's monetary funds at the end of the period amounted to 3,535,321,628.75 yuan, a decrease from the initial balance of 8,486,870,571.16 yuan[18] - Accounts receivable increased to 9,548,007,383.11 yuan from 8,794,869,920.04 yuan at the beginning of the period[18] - Inventory rose to 7,384,331,785.47 yuan compared to the initial balance of 6,247,888,811.25 yuan[18] - The company's trading financial assets stood at 653,982,767.14 yuan, slightly down from 671,886,791.45 yuan at the start of the period[18] - The company's prepayments increased to 673,431,180.60 yuan from 384,992,637.83 yuan at the beginning of the period[18] - The company's accounts receivable financing increased to 2,430,355,954.15 yuan from 2,132,435,037.45 yuan at the beginning of the period[18] - Basic earnings per share remained stable at 1.25 RMB, consistent with the previous period[23] - The company's total comprehensive income reached 3,399,061,680.62 RMB, a 1.82% increase from the previous period's 3,338,159,867.62 RMB[22] - Investment activities cash outflow totaled 19.54 billion CNY, a significant increase from 5.60 billion CNY in the previous period[25] - The third quarter report was not audited[26]

October 20, 2024 03:15 PM GMT M Update Shenzhen Inovance Technology | Asia Pacific 3Q24 Prelims – Revenue In-line; Core Earnings Miss Reaction to earnings Weakens our investment thesis Modest shortfall Modest revision lower Impact to our investment thesis Financial results versus consensus Impact to next 12-month consensus EPS Key Takeaways 3Q revenue was up 15%-25% y-y, midpoint of Rmb9.2bn (+20% y-y) was in-line with MSe and consensus, as NEV powertrain business was the key growth driver... Automation and ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 深圳市汇川技术股份有限公司（以下简称"公司"）拟于2024年10月29日披露《2024 年第三季度报告》。为使投资者能够进一步了解公司经营成果、财务状况，公司拟召开 业绩说明会，现将具体情况公告如下： 一、业绩说明会安排 证券代码：300124 证券简称：汇川技术 公告编号：2024-091 深圳市汇川技术股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 2.英文会议 英文会议报名参会入口 （一）召开时间：2024年10月29日（星期二）15:00-17:00。 （二）出席人员：董事、副总裁、董事会秘书宋君恩先生。 （三）交流内容：公司将针对2024年前三季度经营成果、财务指标等与投资者进行 交流，并对投资者普遍关注的问题进行回答。 （四）召开方式：线上会议，本次会议主要以中文方式进行，配有英文同声传译， 投资者可通过语音和文字方式在线参与本次业绩说明会。 （五）报名及参会方式： 1.中文会议 （1）网络端报名参会： https://s.comein.cn/AK3Yu （2）手机端报名参会：登陆进门财 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][8]. Core Insights - The company is expected to achieve revenue of 88.2-95.9 billion yuan in Q3 2024, representing a year-on-year growth of 15% to 25%. The net profit attributable to the parent company is projected to be between 11.8-13.0 billion yuan, showing a year-on-year change of -5% to +5% [3][4]. - The growth in the new energy vehicle sector is driving revenue growth, while the company is also focusing on strategic areas such as product diversification, international expansion, digitalization, and energy management to sustain high growth in the long term [3][4][5]. Summary by Sections Financial Performance - For Q3 2024, the company forecasts revenue of approximately 92.0 billion yuan, a 20% increase year-on-year, with net profit expected to remain stable at 12.4 billion yuan, and a decrease in non-recurring net profit to 10.7 billion yuan, down 9.5% year-on-year [3][4]. - The company anticipates total revenue for the first three quarters of 2024 to be between 241.45-261.58 billion yuan, reflecting a year-on-year growth of 20% to 30% [3]. Market Position - The company has established a strong market presence in the industrial control sector, with significant market shares in low-voltage frequency converters (21.4%), AC servos (30.3%), and small PLCs (15.1%) [5]. - In the new energy vehicle market, the company holds a 11% market share in domestic electric passenger vehicle control systems, ranking second overall [5]. Strategic Outlook - The company is expected to benefit from improving manufacturing conditions and supportive government policies aimed at enhancing economic recovery [4][5]. - Continued investment in strategic business areas is anticipated to yield positive results, with a focus on internationalization and energy management [5].

Investment Rating - The report assigns a Neutral rating to Shenzhen Inovance Technology, indicating a cautious outlook on the company's performance due to potential risks associated with revenue guidance cuts [3][7]. Core Insights - The report expresses concerns about the company's ability to meet its 2024 revenue growth guidance of 20% year-over-year, particularly in the general automation sector, due to a high base effect from previous quarters and weaker demand from new energy sectors [7]. - The target price for Shenzhen Inovance Technology is set at Rmb55.0, reflecting a valuation based on approximately 30 times the estimated earnings per share (EPS) for FY24E [3][7]. Financial Summary - The earnings summary indicates a net profit of Rmb4,320 million for 2022, projected to increase to Rmb4,911 million in 2024, with a diluted EPS growth from Rmb1.640 in 2022 to Rmb1.847 in 2024 [4]. - The expected total return for the stock is projected at -5.8%, with an expected share price return of -6.6% and a dividend yield of 0.8% [3][4]. Market Capitalization - The market capitalization of Shenzhen Inovance Technology is reported at Rmb157,769 million, equivalent to approximately US$22,260 million [3].

Investment Rating - Buy (Maintained) [1] Core Views - Industrial control business is entering the bottom range, while new energy vehicles continue to exceed expectations [1] - 24Q1-3 revenue is expected to increase by 20%-30% YoY, with net profit attributable to the parent company ranging from -4% to +6% YoY, slightly below market expectations [3] - General automation demand is under pressure but still outperforms the industry, with Q3 revenue expected to decline for the first time since 2022, but recovery to +10% growth is anticipated in Q4 [3] - New energy vehicle business is expected to grow by over 90% YoY in 24Q1-3, with Q3 revenue up by over 70% YoY, maintaining a net profit margin of 5-6% [3] - Elevator business is expected to decline by around 5% YoY in 24Q1-3, with Q3 revenue expected to drop by 10%-5% YoY, but policy support may stabilize the market [4] Financial Forecasts and Valuation - Revenue for 2024E is projected at 37,561 million yuan, a 23.47% YoY increase, with net profit attributable to the parent company at 5,028 million yuan, up 6.04% YoY [2] - EPS for 2024E is forecasted at 1.88 yuan per share, with a P/E ratio of 31.16x [2] - Revenue for 2025E is projected at 46,066 million yuan, a 22.64% YoY increase, with net profit attributable to the parent company at 6,012 million yuan, up 19.56% YoY [2] - EPS for 2025E is forecasted at 2.24 yuan per share, with a P/E ratio of 26.06x [2] - Revenue for 2026E is projected at 54,585 million yuan, an 18.49% YoY increase, with net profit attributable to the parent company at 7,177 million yuan, up 19.39% YoY [2] - EPS for 2026E is forecasted at 2.68 yuan per share, with a P/E ratio of 21.83x [2] Market Data - Closing price: 58.50 yuan [5] - 52-week low/high: 39.17/74.94 yuan [5] - P/B ratio: 6.15x [5] - Market capitalization: 156,671.31 million yuan [5] Financial Highlights - Total assets for 2024E are projected at 55,015 million yuan, with total liabilities at 26,022 million yuan [8] - Net profit attributable to the parent company for 2024E is projected at 5,028 million yuan, with a net profit margin of 13.39% [8] - ROE for 2024E is forecasted at 17.68%, with a ROIC of 12.83% [9] - Operating cash flow for 2024E is projected at 2,954 million yuan, with capital expenditures at 1,617 million yuan [9] Industry and Business Segments - General automation: Q3 revenue is expected to decline by 5%-0% YoY, but recovery to +10% growth is anticipated in Q4 [3] - New energy vehicles: Q3 revenue is expected to grow by over 70% YoY, with a net profit margin of 5-6% [3] - Elevator: Q3 revenue is expected to decline by 10%-5% YoY, but policy support may stabilize the market [4]

3.业绩预告情况表 1 证券代码：300124 证券简称：汇川技术 公告编号：2024-090 深圳市汇川技术股份有限公司 2024 年前三季度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1.业绩预告期间：2024 年 1 月 1 日至 2024 年 9 月 30 日 2.预计的业绩： 亏损 扭亏为盈 同向上升 同向下降 | --- | --- | --- | |---------------------------------------|------------------------------------------------|--------------------------| | 项目 | 前三季度（ 2024 年 1-9 月） | 上年同期 | | | 2,414,544.49 万元 — 2,615,756.53 万元 | | | 营业收入 | 比上年同期增长： 20% — 30% | 2,012,120.41 万元 | | 归属于上市公司股东 | 盈利： 318,659.29 万元 — 351,852.9 ...

8 October 2024 | 6:08PM CST revenue recognition will likely accelerate per mgmt as ocean freight congestion eases) and we forecast +28% yoy revenue into 2H24E. Shenzhen Inovance Technology Co. (300124.SZ): Sept IA orders slightly down yoy/up mom | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---- ...

投资者关系活动记录表 证券代码：300124 证券简称：汇川技术 深圳市汇川技术股份有限公司投资者关系活动记录表 编号：2024-15 | --- | --- | --- | --- | --- | --- | |---------------|------------------------------------------|-------------|--------|-------|-------| | | | | | | | | 投资者 关系活 | 特定对象调研 | □分析师会议 | | | | | 动类别 | □媒体采访 □业绩说明会 | | | | | | | □新闻发布会 | 路演活动 | | | | | | □现场参观 | | | | | | | 其他 电话会议 券商策略会 | | | | | | 参与单 位名称 | 一、9 月 18 日 | | | | | | 及人员姓名 | 第一场：电话会议 | | | | | | | Janus Henderson 共 1 | | | | | | | 第二场：现场调研 | | | | | | | 淡马锡共 2 人 | | | | | | | 第三场：电 ...

证券代码：300124 证券简称：汇川技术 公告编号：2024-089 深圳市汇川技术股份有限公司 关于第二期长效激励持股计划第一个锁定期届满 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 深圳市汇川技术股份有限公司（以下简称"公司"）长效激励持股计划是公 司的中长期激励方案，即对 2021 年至 2023 年每个会计年度设置业绩目标值，依 据业绩达成情况滚动设立三期各自独立存续的持股计划。2023 年 4 月 21 日，公 司根据 2022 年度业绩完成情况提取了第二期长效激励持股计划业绩激励基金 4,549 万元。2023 年 9 月 12 日，公司召开第五届董事会第二十五次会议、第五 届监事会第十九次会议，审议通过了《关于实施第二期长效激励持股计划的议案》， 第二期长效激励持股计划进入实施阶段。以上内容详见公司于 2023 年 4 月 25 日、2023 年 9 月 12 日刊登在巨潮资讯网上的公告（公告编号：2023-023、2023- 073）。 根据《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所 上市公司自律监管指引 ...