中信博(688408) - 中信博投资者关系活动记录表

Financial Performance - Fixed bracket revenue reached 2.062 billion yuan, a year-on-year increase of 26.34% [1] - Tracking bracket revenue reached 3.598 billion yuan, a year-on-year increase of 124.13% [1] - BIPV revenue reached 650 million yuan, a year-on-year increase of 65.16% [1] - Domestic project revenue reached 3.136 billion yuan, a year-on-year increase of 53.49% [1] - Overseas project revenue reached 3.233 billion yuan, a year-on-year increase of 96.93% [1] - Photovoltaic bracket business revenue reached 5.66 billion yuan, a year-on-year increase of 74.83% [1] - Fixed bracket gross margin was 16.94%, an increase of 5.55 percentage points year-on-year [2] - Tracking bracket gross margin was 19.96%, an increase of 6.19 percentage points year-on-year [2] - Comprehensive bracket business gross margin was 18.86%, an increase of over 6 percentage points year-on-year [2] Operational Highlights - In Q1 2024, the company delivered approximately 3.82GW of tracking bracket products and 860MW of fixed bracket products [2] - Overseas photovoltaic bracket deliveries totaled approximately 3.6GW, while domestic deliveries totaled approximately 1GW [2] - The company plans to invest in localized production capacity in key overseas markets such as the Middle East and Latin America to support global delivery capabilities [3] Market Strategy - In the Indian market, the company has a 60% stake in a joint venture with Adani to establish a local production base, ensuring delivery capabilities and maintaining a leading position [2] - In the Middle East market, the company plans to promote its 1P dual-row multi-point parallel drive tracking technology to enhance customer value and brand competitiveness [2] - The company has established 17 overseas branches and 3 regional headquarters in Brazil, Spain, and Dubai to strengthen local services and delivery capabilities [3] Risk Management - The company will strengthen customer credit checks and financial assessments before signing overseas orders to reduce commercial risks [3] - To address high cash outflows in Q1 2024, the company will focus on balancing cash flow, increasing accounts receivable collection, and screening customers with low cash payment rates [2] Industry Insights - Domestic tracking bracket penetration is lower than overseas markets due to factors such as power consumption barriers, price sensitivity, and low product recognition [4] - The company aims to promote the advantages of tracking brackets in the domestic market through communication with stakeholders and market cultivation [4] - Logistics costs for overseas deliveries vary depending on project location and delivery methods, with the company actively building a global supply chain to reduce costs [3]