Recodeal(688800)2024-02-02 08:38Company Overview - Suzhou Ruikeda Connection System Co., Ltd. specializes in the R&D, production, sales, and service of connectors, recognized as a national "little giant" enterprise [2] - The company has developed a complete product chain capability, including connectors, components, and modules, focusing on customer demand [2] Market Position and Product Lines - Ruikeda has established a rich product line in the new energy vehicle (NEV) market, becoming a quality supplier in the NEV connector industry [3] - The company has successfully obtained supply qualifications from well-known domestic and international automotive manufacturers and electronic system integrators [3] - In the communication systems market, Ruikeda has developed several new connectors for 5G systems, gaining a competitive edge in global communication equipment manufacturing [3] Financial Performance - In 2022, overseas revenue accounted for 10.31% of total revenue, with expectations for growth in 2023 due to the commencement of overseas factory operations [3][4] - For the first three quarters of 2023, the company achieved revenue of 1.04 billion CNY and a net profit of 95.81 million CNY, indicating a performance below expectations [4] Future Outlook - The company plans to enhance its product R&D and supply capabilities in the NEV sector, focusing on electric vehicles, wind power, photovoltaics, hydrogen energy, and charging facilities [4] - Ruikeda aims to expand its market share in the communication sector, particularly in 5G technology and data centers, while also exploring new applications in intelligent driving scenarios [4] - The company is actively implementing a strategy to provide comprehensive solutions for customers and expand its overseas market presence [5] Production Capacity - Domestic production capacity is currently sufficient, with significant increases due to recent investment projects [5] - The overseas factories in Mexico and the United States have begun production and are in the ramp-up phase, expected to contribute to revenue and profit once stabilized [5][6] Strategic Considerations - The establishment of overseas factories is driven by customer requirements and international strategic considerations rather than solely for expansion [4] - Mergers and acquisitions are considered an important growth strategy, although the company is currently focused on organic growth and operational efficiency [6]