Harmontronics Automation(SH:688022)2022-11-17 14:32Company Overview - Hanchuan Intelligent is a provider of integrated intelligent manufacturing solutions, focusing on automation equipment and industrial software since its establishment in 2007 [1] - The company is headquartered in Suzhou, with production bases in Shenzhen and Ganzhou, and has over 20 branches globally [1] - Hanchuan Intelligent was listed on the Sci-Tech Innovation Board on July 22, 2019, as one of the first companies to do so [1] Financial Performance - In 2021, the company's revenue grew by 25.67% year-on-year, while in Q1 2022, it increased by 16.95% [2] - The net profit attributable to shareholders rose by 37.73% in 2021, with a significant increase of 153.61% in Q1 2022 [2] - R&D investment totaled 62.99 million yuan, marking a 26.35% increase compared to the previous year [2] Order Status - The total amount of orders on hand is 2.023 billion yuan (including tax) [2] - Intelligent charging and swapping equipment orders: 912 million yuan (45.08%) - Automotive intelligent equipment orders: 819 million yuan (40.48%) - Battery intelligent equipment orders: 292 million yuan (14.44%) [2] Impact of COVID-19 - The pandemic had a limited impact on normal production, with proactive measures taken to ensure operational continuity [2] - Supply chain management remained robust, allowing for quick adjustments in case of supplier disruptions [2] - Some delivery aspects were affected due to local restrictions, but the company is monitoring the situation closely [2] Market Outlook for Battery Swapping - The battery swapping model aligns with national strategies for carbon neutrality and energy conservation [3] - The market is expected to see a significant increase in battery swapping stations, with estimates of 25,000 to 30,000 new stations by 2025 [3] - The company views battery swapping as a convenient refueling method, applicable not only to vehicles but also to drones and ships [3] Competitive Advantages - Hanchuan Intelligent emphasizes high quality, strong technology, and fast delivery in the battery swapping equipment sector [4] - The company has developed a comprehensive industrial internet business system to support remote monitoring and unmanned operation of battery swapping stations [4] - A unique talent pool with experience in battery swapping equipment design and manufacturing enhances the company's competitive edge [4] Future Development Trends - The company plans to explore various battery swapping station formats, including single-channel, dual-channel, and offline stations [4] - Future developments will focus on achieving full automation and smart operations through IoT and big data technologies [4] - Standardization efforts are ongoing to facilitate compatibility and interoperability within the industry [5] Production Capacity - The company aims to produce 1,000 sets of battery swapping stations annually, with a new production facility in Zhejiang province already operational [5] - The facility covers approximately 30,000 square meters and is expected to meet the growing demand for battery swapping solutions [5] Automotive Business Strategy - Hanchuan Intelligent is committed to strengthening its automotive electronics segment, focusing on product development and market expansion [6] - The company aims to capture market share in autonomous driving technologies and related systems [6] - Standardization and the establishment of flagship products are key components of the company's strategy [6]