安川电机：不再期待中国市场回暖

Core Viewpoint - Yaskawa Electric is facing significant challenges in its Chinese operations, with a decline in sales and increasing competition from local companies, particularly Inovance Technology, which has rapidly gained market share [2][3][4]. Group 1: Market Performance - Yaskawa Electric's sales in China have doubled over the past decade, reaching over 120 billion yen, but recent orders from June to August were only 26.8 billion yen, approximately 60% of the peak levels from two years ago [2][3]. - The company's three main products include inverters, AC servo motors, and robots for automotive welding, which have been crucial for its growth in the Chinese market since entering in the 1990s [2][3]. Group 2: Competitive Landscape - Inovance Technology, established in 2003, reported sales of 30.4 billion yuan in the 2023 fiscal year, surpassing Yaskawa Electric's 575.6 billion yen, highlighting the competitive pressure Yaskawa faces [3][4]. - Inovance has achieved a 30% revenue growth in the last fiscal year, benefiting from local production advantages and deepening partnerships with domestic companies [4]. Group 3: Strategic Adjustments - Yaskawa Electric is shifting its focus towards high-value clients and is not pursuing a price-cutting strategy, instead concentrating on essential equipment for semiconductor manufacturing, such as dry vacuum pumps and coolers [4][5]. - The company is also adjusting its cost structure related to production and sales activities, with the president urging employees to temper expectations for a market recovery in China [5].