TC(SH:603421)2024-11-06 07:58Financial Performance - The company achieved a revenue of 2.2 billion in Q3 2024, which is considered a significant accomplishment given the current challenges [3] - The company's market capitalization is currently 3.6 billion, significantly lower than competitors like Cambricon, which has a market cap exceeding 200 billion [1][7] - The company has reported a 40% decline in market value since the beginning of the year [5] Business Strategy and Market Position - The company is focusing on expanding its overseas market presence and has established a team for overseas market development [12] - The company aims to transition from being a device supplier to a solution provider, particularly in the smart grid and AI sectors [10][11] - The company has developed over 60 core competitive chips, with a production volume exceeding 550 million units [6] Research and Development - The company has a strong emphasis on R&D, with over 30 PhDs and 741 master's degree holders contributing to innovation [4][6] - The company is increasing its R&D investment in non-electric sectors such as renewable energy and fluid measurement [12] - The company has reported that over 60% of its energy metering chips are designed in-house, showcasing its commitment to self-reliance in technology [2] Challenges and Risks - The company is currently facing operational difficulties due to being blacklisted by the State Grid, which has impacted its ability to secure contracts [3][11] - The company acknowledges the need for improved market promotion and investor relations to enhance its visibility and attract investment [10][12] - The company is experiencing pressure on its profit margins and is actively working to control R&D and marketing costs [7][11] Future Outlook - The company is planning to adjust its business strategy to better align with market demands and improve profitability over the next 1-2 years [3][10] - The company is exploring potential partnerships with major players like Huawei to enhance its competitive edge [6][12] - The company is optimistic about the opportunities presented by AI and smart grid developments, aiming to leverage these trends for growth [6][10]