Hainan Jinpan Smart Technology (688676)2024-10-23 08:44Group 1: Company Overview and Performance - Jinpan Technology reported a main business revenue of ¥476,810.34 million for the first nine months of 2024, with domestic sales contributing ¥340,232.21 million (28.64%) and international sales contributing ¥136,578.13 million (71.36%) [4] - The company has expanded its production capacity in Mexico and is preparing for full-line product capacity expansion in both Mexico and the United States [3] Group 2: Market and Industry Insights - The company anticipates focusing on industries such as data centers and infrastructure, following trends in AI and emerging national policies [3] - In the first nine months of 2024, domestic data center orders increased by 102% year-on-year, driven by the superior performance of its transformer series products [3][4] Group 3: Future Developments - The Jinpan Technology New Energy Equipment Intelligent Manufacturing project in Tongxiang officially commenced in October 2024, expected to enhance production capacity for various transformer series products [3] - The company is establishing a production capacity in Poland, which will support further market expansion in Europe [3] Group 4: Competitive Landscape - Jinpan Technology's transformer products are recognized for their stability, quality, and low failure rates, making them suitable for various applications including wind energy, photovoltaics, and data centers [4] - Different industries have varying technical demands for transformer products, with data centers requiring high stability and wind energy demanding complex manufacturing processes [4]