EAGLERISE(CHINA)(SZ:002922)2024-05-23 01:31Group 1: Export and Market Expansion - In 2023, the company's direct export amount was approximately 981 million RMB, accounting for 27.14% of total revenue. Main export products include lighting power supplies, industrial control transformers, and distribution transformers [2]. - The company has increased efforts to expand into overseas renewable energy markets, particularly in Europe and the U.S., with expectations of significant growth in direct exports of renewable energy products this year [2][3]. Group 2: Production Capacity and Facilities - The company's digital transformer factory in Ji'an, Jiangxi, was planned for an annual capacity of 800 million RMB and began production in October 2022, achieving an actual production capacity of approximately 1-1.2 billion RMB in 2023 [3]. - A new production base in Anhui is expected to start operations in Q2 2024, designed to match the capacity of the Ji'an factory with further upgrades [3]. - The company is also constructing a new production line in the U.S., anticipated to begin trial production in Q4 2024 [3][4]. Group 3: Product Development and Sales - The box-type substation business, a new category of renewable energy products, has started to build a customer base and achieve bulk shipments, primarily used in photovoltaic and energy storage applications [5]. - The dry-type transformer market is being closely monitored, with plans for gradual investment in production resources based on business development [5]. Group 4: Financial Performance and Guidance - The company aims for a revenue growth rate of no less than 25%, 50%, and 80% for the years 2024-2026, respectively, based on 2023 figures. Net profit growth rates are targeted at no less than 30%, 60%, and 90% for the same period [6]. - The company has established a stable partnership with freight forwarders to mitigate the impact of rising shipping costs, primarily affecting operational costs due to increased freight rates on European and American routes [6]. Group 5: Raw Material Costs and Impacts - The company is affected by rising copper prices, which are a significant raw material for some products. Adjustments to pricing mechanisms are in place, but there may be a lag in passing on costs to customers [6].