YTCO(600066)2024-02-02 08:38Sales Performance - In December 2023, the company sold 4,709 buses, a decrease of 1.26% year-over-year, with 4,009 being medium and large buses, a decrease of 0.25% [1] - For the full year 2023, the company sold 36,518 buses, an increase of 20.93% year-over-year, with 31,770 being medium and large buses, an increase of 33.86% [1] - Export sales in 2023 reached 10,165 buses, a significant increase of 78.87%, while domestic sales were 26,353 buses, an increase of 7.50% [1] Financial Performance - The company expects 2023 net profit attributable to shareholders to be between 1.4 billion and 1.9 billion yuan, with non-GAAP net profit between 1.1 billion and 1.5 billion yuan [1] - In Q4 2023, the company received government subsidies totaling 31.5378 million yuan, with 30.4178 million yuan recognized as current income and 1.12 million yuan as deferred income [2][3] Market and Strategy - Overseas market growth was driven by recovery in demand and increased demand for new energy buses, leading to a significant increase in export sales [1] - Domestic market growth was supported by increased travel demand, particularly in tourism, which boosted bus demand [1] Technology and Innovation - The company has developed advanced motor systems with a maximum efficiency of 96%, a 15% weight reduction compared to previous generations, and implemented silicon carbide (SiC) motor controllers to enhance efficiency and power density [2] - The company has established long-term partnerships with key suppliers, including domestic leaders like CATL and Inovance, and international companies like Cummins and ZF, ensuring a competitive advantage in industrial support [2] Government Support - Q4 2023 government subsidies are expected to impact the company's net profit attributable to shareholders by 26.011 million yuan, subject to audit confirmation [3]