VEICHI(SH:688698)2024-08-30 07:37Financial Performance - In the first half of 2024, the company achieved operating revenue of 77,102.74 million CNY, a year-on-year increase of 23.46% [1] - The net profit attributable to shareholders was 13,436.89 million CNY, up 25.75% compared to the same period last year [1] - The net profit after deducting non-recurring gains and losses reached 13,221.02 million CNY, reflecting a growth of 30.64% [1] - The net profit margin for the first half of 2024 was 17.43%, an increase of 0.32 percentage points year-on-year [1] Revenue Breakdown - Domestic revenue for the first half of 2024 was 55,537.52 million CNY, a year-on-year increase of 20.99% [1] - International revenue amounted to 19,764.41 million CNY, contributing to a total revenue growth of 24.57% [1] - Revenue from variable frequency drives was 49,343.31 million CNY, up 22.85% year-on-year [1] - Revenue from servo systems and control systems reached 25,429.45 million CNY, reflecting a growth of 26.55% [1] Expense Overview - Total expenses for the first half of 2024 were 16,769.29 million CNY, accounting for 21.75% of operating revenue [2] - Research and development expenses were 8,972.34 million CNY, representing 11.64% of total revenue [2] - The increase in expenses was attributed to higher R&D personnel costs, increased sales expenses to expand market share, and rising administrative costs [2] Strategic Direction - The company focuses on three core technological advantages: motor drive, power electronics, and motion control, targeting electrical transmission and industrial control applications [2] - Marketing strategies include optimizing upgrades, focusing on downstream strategic industries, and providing customized development and services [2] - Future plans aim to enhance core competitiveness and industry position, aspiring to become a leading enterprise in electrical transmission and industrial control [2] Industry Development - The company is advancing in the industrial AI and machine vision sectors, providing intelligent visual systems for smart manufacturing [3] - In the robotics field, the company has developed various products suitable for humanoid robots and mobile robots, aiming for commercialization and industrialization [3] - The medical sector is seeing the development of efficient surgical power systems for various medical applications [3] - The company is also focusing on providing comprehensive variable frequency drive solutions for the oil and gas industry, supporting the transition to low-carbon operations [3] Market Expansion - The company is expanding its overseas market presence, particularly in regions like Asia, Africa, and Latin America, while also targeting Europe and North America [4] - Plans include offering customized services and diversifying product offerings to meet specific customer needs in international markets [4] - The servo product line is positioned for growth, with a focus on enhancing performance and meeting broader market demands [4]