EFORT(SH:688165)2024-06-25 09:38Business Strategy - The company adopts a focused strategy, allocating more resources to replicable and reusable directions, with robotics being the core of its full industry chain layout [3] - In overseas operations, the company aims to control the scale of integration business, reduce customer concentration, and strategically adjust loss-making businesses, such as selling 51% of its Brazilian subsidiary [3][4] Market Performance - In 2023, the company's robot product shipment proportions in various sectors were: photovoltaic (55%), general industry (20%), 3C electronics (16%), automotive and automotive parts (8%), and lithium battery industry (1%) [4] - The investment in the photovoltaic sector is expected to decline in 2024, while the 3C electronics sector is projected to recover, with good order growth as of Q1 2024 [4] Profitability and Cost Management - The improvement in gross margin is attributed to the focused strategy, initial scale effects, and continuous cost reduction efforts [5] - The company achieved a controller autonomy rate of 99.36% in 2023, with domestic RV reducer usage at 97.76% and domestic driver usage at 99.57% [5] Technological Advancements - The company has made significant progress in core technology research and development, enhancing production efficiency through optimized trajectory planning and vibration suppression technologies [6] - Key technologies developed include load identification for robots, precision compensation algorithms, and modern software testing methods, significantly improving system quality [6][7] Competitive Advantages - The company emphasizes a focused strategy, consolidating resources around core capabilities and avoiding blind expansion, which enhances resource reuse and efficiency [9][10] - The acquisition of companies like CMA has strategically enhanced the company's product and technology offerings, allowing it to serve a broader range of industries and clients [9]