SINEE(SH:688395)2024-11-07 09:37Company Overview - Established in April 2003, the company specializes in industrial automation, focusing on motor drive and control systems [1] - It is one of the earliest companies in China to engage in the research and production of frequency converters [1] - Headquarters and R&D center located in Shenzhen, with manufacturing and sales operations in Wuhan [1] Financial Performance (Q3 2024) - Achieved revenue of CNY 90.42 million, a decrease of 0.99% year-on-year [2] - Net profit attributable to shareholders was CNY 7.25 million, down 32.64% year-on-year [2] - Net profit excluding non-recurring items was CNY 5.69 million, a decline of 39.98% year-on-year [2] - Decline attributed to reduced sales in the servo and construction machinery sectors, alongside increased R&D and sales expenses [2] Gross Margin Insights - Gross margin growth driven by continuous technological innovation and increased R&D investment [2] - Cost reductions achieved through product structure optimization and improved procurement negotiations [2] - Expected slight increase in gross margin for 2024 compared to 2023 [2] Product Applications - Main products include frequency converters, integrated machines, and servo systems [2] - Frequency converters are used in industries such as printing, packaging, metal rolling, petrochemicals, and textiles [2] - Integrated machines and servo systems cater to various sectors including wire and cable, ceramics, and logistics [2] New Energy Products - Focus on user-side energy solutions and key component development for low-voltage AC and DC smart microgrids [2] - Current offerings include DC energy storage systems and inverter power supplies [2] Robotics Development - Servo systems are core components for industrial robots, with ongoing attention to industry trends and collaboration opportunities [3] Overseas Market Strategy - Achieved significant growth in overseas sales, particularly in the Middle East, India, and South America [3] - Plans to enhance overseas market presence through increased investment in talent, products, and channels [3] Acquisition Plans - Post-acquisition of Tenghe Precision Motor, plans include upgrading production lines and enhancing production efficiency [3] - Focus on optimizing production processes and improving product quality [3] Future Growth Directions 1. Industry and regional integration strategy targeting multiple mainstream industries for diversified growth [3] 2. Accelerated expansion into overseas markets with tailored strategies [3] 3. Product line enhancement and brand development to meet diverse market needs [3] 4. Continuous optimization of digital processes to improve customer engagement and service quality [3]