Zhiyang Innovation Technology (688191)2024-05-10 10:10Financial Performance - 2023 annual revenue reached 798.1283 million yuan, an increase of 18.90% year-on-year [2] - 2023 net profit attributable to parent company was 41.5335 million yuan, up 48.37% year-on-year [2] - 2023 R&D investment was 100.7875 million yuan, accounting for 12.63% of revenue [2] - 2024 Q1 revenue was 108 million yuan, a 20.43% year-on-year increase [2] - 2024 Q1 R&D investment was 22.1937 million yuan, accounting for 20.54% of revenue [2] Business Sector Development Power Sector - Power sector accounted for 91.82% of 2023 revenue [4] - Power sector gross margin was 34.28% in 2023 [4] - AI-based power transmission intelligent operation and maintenance solutions widely applied across various voltage levels [2] Water Conservancy Sector - 2023 water conservancy revenue was 49.1652 million yuan, a 962.18% year-on-year increase [2] - Water conservancy gross margin reached 47.81% in 2023 [4] - Developed AI+drone+digital twin product system for water conservancy [2] - Participated in Shandong Binzhou digital river management solution [2] Rail Transit Sector - 2023 rail transit revenue was 15.9044 million yuan, an 11,203.14% year-on-year increase [2] - Rail transit gross margin was 30.08% in 2023 [4] - Developed cloud-edge-end intelligent operation and maintenance product system for railway safety [3] - Participated in Guinan High-speed Railway intelligent security system project [3] Industry Trends and Future Development Water Conservancy - National Water Network Construction Plan targets completion of national water network framework by 2035 [3] - Water conservancy digital investment expected to reach 2.2% by 2025, creating over 20 billion yuan market [3] - 2023 national water conservancy construction investment reached 1.2238 trillion yuan [3] Rail Transit - 2023 national railway fixed asset investment reached 764.5 billion yuan, up 7.5% year-on-year [3] - 2023 new railway lines reached 3,637 km, including 2,776 km high-speed rail [3] - Intelligent High-speed Rail 2.0 development plan emphasizes predictive analysis and cross-industry integration [4] Strategic Cooperation - Partnered with Huawei for power sector AI solutions since 2019 [4] - Became Huawei Ascend ecosystem strategic partner in 2021 [4] - Signed cooperation agreement with HarmonyOS ecosystem for power intelligent operation and maintenance in 2024 [4] R&D and Innovation - Focus on AI, cloud computing, big data, and IoT technologies [2] - Developed multidimensional data collection and AI analysis for railway safety [3] - Established digital twin applications for water conservancy [2]