STAR SHUAIER(002860)2025-05-14 07:30Company Overview - Hangzhou Xingshuai Electric Co., Ltd. was listed on the Shenzhen Stock Exchange in April 2017 as a high-tech enterprise with strong innovation and independent R&D capabilities [2] - The company specializes in the R&D, production, and sales of various types of thermal protectors, starters, sealing terminals, temperature controllers for small appliances, and photovoltaic components [2] Business Development - The photovoltaic component business has a full order book, with multiple companies undergoing factory inspections [3] - The company plans to adjust production capacity based on future industry trends and order situations in the photovoltaic sector [3] Shareholder Returns - The company emphasizes reasonable returns to investors, aiming for a sustainable profit distribution policy [3] - The "Shareholder Return Plan for the Next Three Years (2025-2027)" states that the annual cash distribution will be no less than 20% of the distributable profits for that year [3] R&D Projects - Key R&D projects include high-efficiency permanent magnet motors and servo motors [3] - The high-speed oil-cooled generator has completed design and is in the sampling phase, with mass production expected in the second half of the year [3] - The new flat wire wind power generator has completed design and is entering the sampling phase, promising higher efficiency and broader application [3] M&A Strategy - The company views mergers and acquisitions as a crucial strategy for growth and will continue to seek potential targets that align with its industry [4] - The company has confidence in its M&A capabilities, supported by years of manufacturing management experience and successful acquisitions [5][6] - Acquired subsidiaries have shown stable operations and good integration effects, supported by stable orders and strong cash flow [7]