Core Viewpoint - The company is actively expanding its overseas operations in Europe, particularly in Poland and Italy, and is focusing on diversifying its channels and customer resources in the region [1]. Group 1: Overseas Expansion - The company has established overseas offices and service networks in Poland and Italy [1]. - The company is exploring various channels and customer resources in the European market [1]. Group 2: Product Offerings and Certifications - The company has developed products in several fields, including variable frequency drives, robotics, photovoltaic water pumping, and hydrogen energy [1]. - Multiple products have obtained CE and STO certifications, enhancing their marketability in Europe [1]. Group 3: Market Strategy - A subsidiary has been set up in Italy to provide safe, reliable, efficient, and adaptable automation solutions for the European and global markets [1].

Core Insights - Huichuan Technology (SZ300124) reported a year-on-year increase in both revenue and profit for the first three quarters of 2025, with total revenue reaching 31.663 billion yuan, up 24.67%, and net profit attributable to shareholders at 4.254 billion yuan, up 26.84% [1][2] Financial Performance - Revenue for the first three quarters was 31.663 billion yuan, reflecting a 24.67% increase year-on-year [1] - Net profit attributable to shareholders was 4.254 billion yuan, a 26.84% increase compared to the previous year [1] - Deducting non-recurring gains and losses, the net profit was 3.888 billion yuan, up 24.03% year-on-year [1] - Basic earnings per share were 1.58 yuan, representing a 26.40% increase [1] - The company’s total assets at the end of the reporting period were 67.802 billion yuan, an 18.58% increase from the previous year [1] Profitability Metrics - Gross margin for the first three quarters was 29.27%, down 1.75 percentage points year-on-year [2] - Net profit margin was 13.64%, an increase of 0.19 percentage points compared to the same period last year [2] Expense Analysis - Total operating expenses for the first three quarters were 5.229 billion yuan, an increase of 626 million yuan year-on-year [2] - The expense ratio was 16.51%, down 1.61 percentage points from the previous year [2] - Sales expenses decreased by 22.16%, while management expenses increased by 17.38% and R&D expenses rose by 35.74% [2] Company Overview - Huichuan Technology, established in April 2003 and listed in September 2010, specializes in providing core components for industrial automation, including frequency converters, servo systems, PLC/HMI, high-performance motors, sensors, machine vision, and industrial robots [5] - The company also supplies electric drive and power systems for the new energy vehicle industry and traction and control systems for the rail transit sector [5]

英威腾（002334.SZ）11月19日在投资者互动平台表示，公司目前暂未被认定为链主企业。公司产品如 变频器、UPS、新能源汽车电控等在国内市场占有率位居前列，并与产业链上下游众多企业保持着紧密 合作，具备了较强的资源整合基础。公司重视产业链协同发展，未来将在提升产业链韧性和竞争力方面 发挥更重要的作用。 每经AI快讯，有投资者在投资者互动平台提问：请问贵公司是链主企业吗？ （记者 王晓波） ...

格隆汇11月19日丨英威腾(002334.SZ)在投资者互动平台表示，公司目前暂未被认定为链主企业。公司 产品如变频器、UPS、新能源汽车电控等在国内市场占有率位居前列，并与产业链上下游众多企业保持 着紧密合作，具备了较强的资源整合基础。公司重视产业链协同发展，未来将在提升产业链韧性和竞争 力方面发挥更重要的作用。 ...

Core Viewpoint - The company is focusing on the development of its industrial automation, network energy, new energy vehicles, and photovoltaic storage businesses, aiming for digitalization and intelligent upgrades through comprehensive solutions and strategic planning [2][3][4][5]. Group 1: Industrial Automation - The industrial automation business is experiencing steady growth, with a focus on "driving + control + intelligent manufacturing" as the core strategy [2]. - The company is transitioning from a single equipment supplier to a comprehensive solution provider covering control, drive, and execution [2]. - Marketing strategies are shifting from product marketing to value marketing, targeting major clients with intelligent solutions [2]. Group 2: Network Energy - The customer base for the network energy business has expanded to include strategic industries such as telecommunications, finance, and electricity, while maintaining traditional public service sectors [3]. - Recent breakthroughs in procurement projects with major telecommunications operators and expansion into overseas data center markets indicate the effectiveness of the industry-focused operational strategy [3]. - The company is committed to continuous product iteration and enhancing its competitive edge through high-efficiency solutions [3]. Group 3: New Energy Vehicles - In the first three quarters of the year, the new energy vehicle business generated revenue of 460 million yuan, with over 80% coming from commercial vehicles, reflecting significant growth despite a strategic contraction in passenger vehicle operations [4]. Group 4: Photovoltaic Storage - The company is enhancing its photovoltaic storage business by integrating teams and resources to improve capabilities from product development to market delivery, ensuring efficient and reliable solutions for customers [5]. Group 5: Financial Performance - For the first three quarters of 2025, the company reported total revenue of 3.108 billion yuan, a year-on-year decrease of 1.12%, with a net profit of 148 million yuan, down 3.26% [6]. - The third quarter alone saw a revenue increase of 3.76% year-on-year, although net profit decreased by 43.41% [6]. - The company maintains a debt ratio of 48.92% and a gross profit margin of 31.91% [6].

Core Viewpoint - 汇川技术's stock performance shows a slight increase, with significant trading activity and high financing levels, indicating strong market interest and potential growth opportunities [1][2]. Financing Summary - On November 17, 汇川技术 had a financing buy amount of 99.47 million yuan, with a net financing outflow of -13.09 million yuan, indicating more selling than buying [1]. - The total financing balance reached 3.23 billion yuan, accounting for 1.67% of the circulating market value, which is above the 80th percentile of the past year, suggesting a high level of financing activity [1]. - In terms of securities lending, 3,600 shares were repaid while 6,900 shares were sold, with a selling amount of 493,400 yuan, and the remaining securities lending balance was 2.46 million yuan, also above the 90th percentile of the past year [1]. Company Overview - 汇川技术, established on April 10, 2003, and listed on September 28, 2010, specializes in providing core components for industrial automation and robotics, with a significant focus on the electric drive and power systems for the new energy vehicle sector and traction and control systems for rail transportation [2]. - The company's revenue composition includes 45.18% from new energy vehicles and rail transportation, 42.94% from general automation, 11.25% from smart elevator electrical systems, and 0.64% from other sources [2]. Financial Performance - For the period from January to September 2025, 汇川技术 reported a revenue of 31.66 billion yuan, representing a year-on-year growth of 24.67%, and a net profit attributable to shareholders of 4.25 billion yuan, with a year-on-year increase of 26.84% [2]. Dividend Information - Since its A-share listing, 汇川技术 has distributed a total of 7.94 billion yuan in dividends, with 3.27 billion yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, the largest circulating shareholder is Hong Kong Central Clearing Limited, holding 484 million shares, an increase of 9.81 million shares from the previous period [3]. - The fourth largest circulating shareholder, 易方达创业板ETF, holds 42.35 million shares, a decrease of 7.01 million shares from the previous period [3].

投资者关系活动记录表（2025） 证券代码：002334 证券简称：英威腾 深圳市英威腾电气股份有限公司投资者关系活动记录表 编号：2025-004 | 投资者关系活动 | 特定对象调研 分析师会议 | | --- | --- | | 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 券商策略会 | | 参与单位名称及 | 一、券商策略会 | | 人员姓名 | 中信证券、易方达基金、君成投资、瞰道资产、亘泰投资 | | | 二、现场与线上结合方式调研 | | | 中泰证券、中天国富证券、首创证券、国泰基金、亚太汇金基金、 | | | 淳厚基金、广莲资产、浮昇寰屿、聚众鑫创投资管、东北证券（线 | | | 上） | | 时间 | 年 月 日 2025 11 11 15:30 | | | 2025 年 11 月 14 日 10:00 | | 地点 | 券商策略会举办地（深圳） | | | 英威腾光明科技大厦 | | 上市公司接待人 | 董事会秘书：左桃林 | | 员姓名 | 网络能源 BU 副总经理：凌雄 | | | 财务会计总监：周芳 | ...

Core Insights - 汇川技术 has transformed from a single variable frequency drive supplier to a comprehensive provider of integrated solutions in industrial automation, new energy vehicle drives, and smart elevators, aiming to become the ecological foundation for industrial digitalization [1] Group 1: Industry Challenges and Solutions - The company identifies three major challenges in industrial upgrading: enhancing single equipment efficiency, the investment value of multi-variety small-batch production lines, and data silos in digital transformation [2] - 汇川技术 aims to break down data silos by unifying data semantics and creating an open architecture to provide solutions based on data definitions for various customer scenarios [2] - The company has assisted over ten industries in completing smart factory planning, achieving over 30% reduction in order response cycles in sectors like new energy and automotive parts [2] Group 2: Smart Manufacturing Pathways - 汇川技术 emphasizes that smart manufacturing should be a systematic project that addresses pain points and creates value, summarizing three pathways: "通血脉" (connecting bloodlines), "长智慧" (growing wisdom), and "赋工具" (empowering tools) [3] - The company has improved yield rates in lithium battery production from 82% to 99.2% by integrating tension control models with AI visual recognition [3] - In precision dispensing scenarios, the company has achieved a control precision of ±0.02mm, significantly reducing defect rates [3] Group 3: Innovative Solutions - 汇川技术 introduced several innovative solutions at the recent conference, addressing the fragmentation of factory equipment data and the challenges of realizing intelligent manufacturing visions [4] - The company is developing a standardized platform, InoQuickPro, which allows engineers to easily upgrade smart systems and adjust production line logic [4] Group 4: Industrial Robotics - 汇川技术 is focusing on humanoid robots, aiming to become a high-performance, cost-effective supplier of core components and subsystems [6] - The company has already begun mass production of key components such as drives and motors, with plans to launch joint modules and bionic arms soon [6] - 汇川技术 emphasizes that its components meet industrial-grade standards, which are higher than those for service or performance robots [6] Group 5: Global Expansion - 汇川技术 is targeting developed and emerging markets, focusing on regions like Korea, India, Vietnam, Europe, and the Americas for its global strategy [7] - The company's overseas business revenue, including automotive, reached approximately 1.32 billion yuan in the first half of 2025, marking a 39% year-on-year increase [7]

Core Points - The company completed the initial grant registration of the 2025 restricted stock and stock option incentive plan, with the initial grant date set for September 30, 2025, and the listing date for the restricted stock on November 14, 2025 [1][3] - A total of 8.94 million shares were granted at a price of 4.8 yuan per share, with 31 individuals receiving the grants [1][3] - The initial grant of restricted stock represents 1.10% of the company's total share capital of 814 million shares at the time of the incentive plan announcement [3] Adjustments to the Incentive Plan - The board approved adjustments to the incentive plan, reducing the number of recipients from 238 to 224 due to the voluntary forfeiture of 56,000 stock options by some recipients [3] - The total number of restricted shares granted remains at 10 million, with 9.06 million shares initially granted and 940,000 shares reserved [3] - The total number of stock options granted was adjusted to 9.944 million, with 9.214 million options initially granted and the reserved quantity unchanged [3] Company Overview - The company specializes in providing solutions in industrial automation and energy power sectors, focusing on energy conservation, intelligent manufacturing, artificial intelligence, and digitalization [4] - Its business segments include industrial automation, network energy, new energy vehicles, and photovoltaic energy storage, offering products such as inverters, servo systems, and UPS power supplies [4] - For the first three quarters of 2025, the company reported revenue of 3.108 billion yuan and a net profit attributable to shareholders of 148 million yuan [4]

英威腾所属申万行业为：机械设备-自动化设备-工控设备。所属概念板块包括：共享经济、高铁、伺服 系统、新型工业化、快充概念等。 截至9月30日，英威腾股东户数8.21万，较上期减少2.97%；人均流通股8941股，较上期增加3.06%。 2025年1月-9月，英威腾实现营业收入31.08亿元，同比减少1.12%；归母净利润1.48亿元，同比减少 3.26%。 11月13日，英威腾盘中上涨2.11%，截至11:19，报9.21元/股，成交1.11亿元，换手率1.66%，总市值 74.95亿元。 资金流向方面，主力资金净流入1155.44万元，特大单买入985.51万元，占比8.89%，卖出110.98万元， 占比1.00%；大单买入2618.78万元，占比23.63%，卖出2337.88万元，占比21.10%。 英威腾今年以来股价涨23.44%，近5个交易日跌0.86%，近20日跌5.64%，近60日跌0.86%。 资料显示，深圳市英威腾电气股份有限公司位于广东省深圳市光明区马田街道松白路英威腾光明科技大 厦，成立日期2002年4月15日，上市日期2010年1月13日，公司主营业务涉及主要从事中低压变频器研 发、 ...