Core Viewpoint - The company, Haocreative Ruitong, is focused on expanding its customer base beyond the State Grid and Southern Power Grid while maintaining strong relationships with these key clients, aiming for a decrease in customer concentration over the long term [1][2]. Group 1: Market Demand and Customer Base - The demand for Haocreative Ruitong's products is expected to continue growing, particularly from the State Grid and Southern Power Grid, which will remain the primary customers in the short term [1]. - The company plans to enhance its sales team and channels, strengthen brand building, and actively seek new customers, particularly in sectors outside of the power grid [2]. - Sales revenue from customers outside the State Grid and Southern Power Grid is projected to grow significantly, with expected revenues of 62.01 million, 49.11 million, and 111.33 million CNY for the years 2022-2024, reflecting a compound annual growth rate of 33.98% [1]. Group 2: Product Development and Innovation - Haocreative Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, with key products including smart ring main units, smart pole-mounted switches, and box-type substations [3]. - The company has invested significantly in R&D, with expenditures of 17.30 million, 23.36 million, and 32.32 million CNY over the reporting period, achieving a compound growth rate of 36.69% [3]. - The company has developed critical technologies such as fault location and self-healing technology for distribution networks, which enhance the intelligence of its products [3][4]. Group 3: Financial Performance - Haocreative Ruitong reported revenues of 559.80 million, 672.37 million, and 867.25 million CNY, with a compound growth rate of 24.47%, and net profits of 68.76 million, 87.41 million, and 111.29 million CNY, with a compound growth rate of 27.22% [6]. - For the first half of 2025, the company achieved a revenue of 450.80 million CNY, representing a year-on-year growth of 2.97%, and a net profit of 61.61 million CNY, up 15.80% year-on-year [6]. Group 4: Future Plans and Strategic Direction - The company plans to issue 27.90 million shares at a price of 21.00 CNY per share, aiming to raise approximately 585.90 million CNY for projects related to smart distribution equipment and R&D [6][7]. - The strategic focus is on becoming a leader in the smart distribution equipment sector, aligning with national strategies for carbon neutrality and smart grid development [7]. - Haocreative Ruitong aims to leverage advancements in IoT, edge computing, and AI to enhance its product offerings and market position [7].
[路演]昊创瑞通：将积极开发工业客户、稳步开拓海外市场 已与沙特相关客户达成初步合作意向