NWM(603700)2023-11-21 11:02Financial Performance - Revenue for the first three quarters of 2023 reached 12,585.613 million yuan, a year-on-year increase of 20.10% [3] - Net profit attributable to the parent company was 818.002 million yuan, a year-on-year increase of 26.79% [3] Business Development - Accelerated integration of water metering industry chain and smart water services [3] - Actively promoted technological innovation to enhance urban water supply network lifecycle management [3] - International business performed well in 2023 [3] Strategic Planning - Focused on high-quality development with "core focus and foundation consolidation" as the key annual work priorities [4] - Implemented a "leader strategy" with short, medium, and long-term development steps [4] - Aimed to become a comprehensive group enterprise with full-domain smart water service capabilities [4] Product Innovation - Continuously upgraded products and achieved technological breakthroughs [4] - Developed water-related sensors to accelerate the maturity of smart water business technologies [4] - Built a distinctive product system [4] Competitive Landscape - Domestic water meter industry remains fragmented with slow concentration improvement [5] - Foreign smart meter promotion needs further enhancement due to communication technology limitations [5] - As a pioneer in NB-IoT smart water meters, the company has significant advantages in product technology and service capabilities [5] Corporate Branding - Changed name from "Ningbo Water Meter" to "Ningbo Water Group" in 2020 to reflect strategic transformation [5] - Established a "group company" structure to improve organizational framework and product structure [5] - Transitioning from traditional manufacturing to "manufacturing + service" enterprise [5] International Relations - Easing of US-China relations expected to have a positive impact on the company's European and American business operations [6]