Haosen(SH:688529)2023-11-03 01:08Financial Performance - The company achieved a net profit of 24.27 million yuan in Q3, representing a year-on-year increase of 17.80% but a quarter-on-quarter decrease of 47.15% [3] - The increase in credit impairment losses was primarily due to a single client's delayed payments, although the risk of substantial bad debts remains low [3] - Rising expense ratios were attributed to expanded order scale and personnel growth, with financial costs increasing due to new loans for project construction [3] Market Position and Competition - The company has a strong focus on the powertrain sector, with a comprehensive layout in traditional energy, new energy lithium battery technology, and hydrogen fuel cell technology [4] - In the lithium battery module PACK segment, competition is intense, but the company maintains a competitive edge by focusing on automotive clients, particularly high-end brands [4] - The company is one of the few suppliers capable of independently completing the assembly and testing of flat wire motors, providing a significant competitive advantage [4] Future Orders and Market Outlook - The company anticipates substantial orders in the overseas European and American markets, particularly in electric motors and batteries, with strong confidence in increasing market share [6][7] - Domestic market sentiment is expected to improve, with a gradual recovery in investment enthusiasm for new energy [8] - The company has delivered the first high-speed production line for large cylindrical batteries in China, predicting increased investment in this area as technology matures [9]