CREAT(002350)2024-04-16 11:39Sales and Market Expansion - The company's sales offices cover more than 30 provinces across the country, with over 200 sales personnel, and more than 95% of them hold college degrees or above[97] - The company has a strong customer base in urban and rural power grids and is expanding into industries such as solar thermal, chemical, metallurgy, and municipal sectors[97] - The company has a stable and high-level marketing team with extensive experience in the power system, which has effectively secured contracts and will continue to expand the market[97] Production and R&D Capabilities - The company has completed the construction and put into production of a 35KV dry-type transformer production line and an energy storage converter integrated machine production line at its Zhengzhou Airport production base[99] - The company has significant technical advantages in intelligent electrical research and development, combining automation technology with switchgear and transformer technology[96] - The company's products, such as fault indicators, automatic positioning systems, ring network cabinets, and box-type substations, are highly regarded in the industry[96] - The company has a strong system integration capability and coordination ability between primary and secondary equipment, which will bring technical advantages in future bidding and product development[96] - The company has a wide range of products covering both primary and secondary equipment fields, with substantial investment in R&D and numerous patents and scientific achievements[96] - The company is focusing on the development of key product models in the electrical equipment manufacturing sector, with increased R&D investment and priority in sales[99] - The company is actively promoting the construction of new energy production lines at its Zhengzhou Airport production base, aligning with its new energy business plan[99] - The company completed the development and market deployment of several key projects, including the energy storage converter-booster integrated unit and high-efficiency silicon steel distribution transformers[101] Financial Performance - The company achieved a revenue of 19.53 billion yuan, a year-on-year decrease of 10.28%, with electrical product revenue at 18.35 billion yuan, down 11.40%, and new energy engineering service revenue at 939.11 million yuan, up 75.83%[115] - Net profit attributable to shareholders was -1.67 billion yuan, a year-on-year decrease of 1167.84%, with non-GAAP net profit at -1.91 billion yuan, down 2679.89%[115] - The company's gross margin for distribution and control equipment was 18.07%, a decrease of 2.47% year-on-year[105] Production and Inventory Metrics - Sales volume of distribution and control equipment increased by 1.60% to 325,961 units, while production volume decreased by 14.20% to 292,013 units[106] - The company's inventory of distribution and control equipment decreased by 24.40% to 105,016 units[106] Cost and Raw Material Analysis - Raw material costs for electrical products accounted for 93.20% of total operating costs, a decrease of 6.45% year-on-year[110] - The company's new energy engineering service segment saw a significant increase in raw material costs, up 184.74% year-on-year[110] Standards and Technical Contributions - The company participated in the formulation and revision of 24 external technical standards, bringing the total to 89 standards, including 27 international standards[118] Equity and Asset Management - The company disposed of 26.475% equity in Beijing Keryi Tuo Technology Co., Ltd., resulting in a gain of 126,947.83 yuan[113]