SANXING(SH:601567)2023-11-01 10:47Group 1: Business Strategy and Performance - The company has a clear strategic goal focusing on dual main businesses: smart power distribution and medical services, actively promoting innovation and solidifying various initiatives [2] - In the smart power distribution sector, the company emphasizes digital and intelligent upgrades, maintaining industry-leading bid amounts in new energy-related fields [2][3] - The medical services segment aims to become a leading medical service management group in China, focusing on high-quality rehabilitation chains with specialties in critical care, neurological rehabilitation, and geriatric care [3][6] Group 2: Financial Performance - The smart power distribution business achieved a revenue of CNY 2.216 billion in the first half of the year, representing a year-on-year growth of 17.75% [3][5] - The medical service segment's gross margin has improved, with a reported gross margin of 10.73% [3] - As of the end of Q3, the company had a total order backlog of CNY 11.413 billion, a year-on-year increase of 29.74% [5] Group 3: Market Expansion and International Presence - The company has established manufacturing bases in Brazil, Indonesia, and Poland, and sales centers in Sweden, Colombia, Mexico, Nepal, and Peru, covering over 70 countries and regions [4][6] - In the European market, the company has expanded its reach to 13 countries, becoming one of the most widely covered Chinese companies in Europe [4] - The company is actively pursuing opportunities in global smart grid renovations, leveraging existing overseas channels and customer resources [5] Group 4: Future Outlook and Goals - The company plans to add no less than 10 new hospitals annually from 2022 to 2024 as part of its equity incentive plan [6][7] - The focus for rehabilitation medical services is on expanding in East, Central, and South China, primarily in provincial capitals and key cities [6][7] - The company emphasizes maintaining a cash dividend ratio above 50% over the past three years, with future dividends to be considered based on operational conditions and strategic planning [7]