SIEYUAN(SZ:002028)2025-10-24 07:16Group 1: Company Performance Overview - The company achieved a revenue of approximately 5.33 billion CNY in Q3, totaling 13.827 billion CNY for the first three quarters, with confidence in meeting annual targets [2] - The overall gross margin remains stable, with minimal fluctuations expected throughout the year due to relatively stable material prices and fewer unexpected situations [2] Group 2: Market and Product Insights - The company has established good relationships with battery cell manufacturers, viewing the storage business as having significant long-term market potential [3] - The market for storage products is rapidly changing, with transparent costs for battery cells; the company is focused on enhancing product competitiveness through ongoing R&D investments [3] - The demand for grid business is expected to be positive due to the urgent need for new power system construction driven by rapid renewable energy development [4] Group 3: Sales and Expenses - The increase in sales expenses is attributed to upfront investments aimed at market expansion [5] - Overall overseas demand remains strong, with specific growth noted in various regions [6] Group 4: Product Applications and Innovations - High voltage substation equipment is identified as the main product in the U.S. market [7] - Supercapacitors are recognized for their broad application opportunities in automotive electronics, new power systems, and intelligent computing, effectively expanding the company's operational and business boundaries [8]