SINEE(688395)2024-05-13 11:08Group 1: Financial Performance - The gross profit margin for Q1 2024 is 34.66%, an increase of 4.83 percentage points year-on-year [1] - Overall gross profit margin for 2024 is expected to remain stable compared to the previous year [1] - The company anticipates significant revenue growth in 2023 based on current trends [2] Group 2: Business Development and Strategy - The company is focusing on user-side energy storage solutions and key component design and sales in the new energy sector [2] - Major clients in the new energy business are concentrated in microgrid energy storage and engineering machinery [2] - The company plans to enhance its overseas market presence, targeting Southeast Asia, South Asia, the Middle East, Africa, and the CIS regions, with a focus on frequency converters and servo systems [2] Group 3: R&D and Infrastructure - The Shenzhen R&D center is in the process of being delivered, with plans for renovation and equipment procurement once completed [2] - The company is committed to continuous technological upgrades and product iterations in the industrial automation sector [2] - R&D investments will also focus on motion controllers and PLC products to expand application scenarios [2] Group 4: Challenges and Future Outlook - The decline in Q1 performance is attributed to reduced demand in the construction machinery sector due to ongoing real estate regulations [3] - Increased operational costs from long-term strategic initiatives, including talent acquisition and R&D investments, have impacted net profit [3] - The company maintains a normal order backlog, ensuring it can meet customer delivery needs, with positive revenue expectations for the year [3]