GoodWe Technologies (SH:688390)2024-05-20 10:52Group 1: Market Overview - The company's finished product inventory is at a reasonable level, and the inventory destocking in the European inverter industry is gradually improving. Overall market demand in Europe remains relatively stable with an upward trend [2] - The global inverter market is expected to grow next year alongside the photovoltaic market [2] Group 2: Growth Opportunities - The company aims to innovate in the fields of new energy conversion technology, energy storage technology, and smart energy management systems, positioning itself as a comprehensive solution provider for smart energy systems [2] - The company has established a long-term stable cooperation with numerous quality clients across various countries, including Germany, Italy, Australia, and the USA, and will continue to pursue a global market strategy [2] Group 3: Financial Performance - In 2023, sales revenue from Europe accounted for approximately 40%-50% of the total revenue [3] - In Q1, overseas revenue was about 400 million yuan, accounting for approximately 36% of total revenue [3] - The company's Q1 gross margin was below 30%, with domestic gross margin around 20% and international gross margin about 45% [3]