GATD(SH:688239)2023-09-25 02:10Financial Performance - The company achieved a revenue of 1.18 billion, representing an approximate 90% increase compared to the same period last year [1] - Operating profit reached 0.133 billion, showing a growth of around 25% year-on-year [1] - The business structure indicates that the aviation sector accounts for approximately 73%, while the energy sector contributes 16%, and aerospace and gas turbines each account for about 5% [1] Accounts Receivable - The significant increase in accounts receivable is primarily due to the rapid growth in revenue, with most accounts receivable being due within one year [1] Raw Materials and Suppliers - The main raw materials used by the company are high-temperature alloys and titanium alloys, with key suppliers including Fushun Special Steel for high-temperature alloys and Baoji Titanium Industry and Jintian Titanium Industry for titanium alloys [2] Production Capacity - The production capacity at the Deyang plant is expected to reach 50% within one year of operation and achieve full capacity within two years, with efforts to accelerate the ramp-up process [2] Orders and Strategic Considerations - The company had an order backlog of 2.026 billion at the beginning of the year, which increased to 2.068 billion by the end of the first half of 2023 [2] - The acquisition of a stake in Liyang International is strategically considered to enhance synergy with downstream processes, with future decisions on downstream expansion based on customer and market demand [2] Competitive Advantages - The Deyang plant boasts higher automation levels compared to the Guiyang plant, which is expected to reduce labor costs and improve product quality and precision, thereby increasing the first-time acceptance rate and reducing material consumption [2]