V&T(SZ:300484)2024-05-13 10:38Group 1: Investor Relations Activities - The investor relations activities include various formats such as analyst meetings, media interviews, performance briefings, and roadshows [2][3]. - The annual online performance briefing took place on May 13, 2024, from 15:00 to 17:00 [3]. Group 2: Business Model and Revenue Sources - The main revenue sources are from new energy vehicle drive products and industrial automation control products, primarily sold directly to customers and through channel sales [3][4]. - The company plans to continue R&D in both new energy vehicle drive and industrial automation control sectors to enhance market expansion [3]. Group 3: Shareholder Returns - The dividend amounts from 2021 to 2023 were 53.85 million, 75.10 million, and 33.37 million, representing payout ratios of 86.98%, 89.76%, and 138.67% respectively [4]. - Since its listing in 2016, the company has distributed cash dividends totaling 245.36 million across seven occasions [4]. Group 4: Future Growth Expectations - The company anticipates growth in the new energy commercial vehicle market, particularly in light trucks and heavy trucks, which currently have low penetration rates [4]. - The demand for new energy engineering machinery is expected to rise due to advancements in "three electric" technologies and domestic manufacturing upgrades [4]. Group 5: Competitive Landscape and R&D - The company evaluates the competitive landscape by analyzing industry trends and competitors, focusing on R&D and product innovation to maintain a competitive edge [4][5]. - There are no current developments in battery management systems (BMS), but the company is committed to investing in key technologies [5]. Group 6: Supply Chain and Cost Structure - The company has a stable supply chain with long-term partnerships, which helps mitigate risks during economic fluctuations [5]. - Efforts to optimize cost structures include increasing domestic supplier engagement to reduce material costs [5]. Group 7: Brand Development and Market Strategy - The company is focusing on precise brand positioning for new energy and industrial automation products, enhancing channel development and service capabilities [5][6]. - Plans for overseas market expansion include increasing brand promotion and improving internal team collaboration [5][6].