Recodeal(SH:688800)2023-10-12 00:42Group 1: Company 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 including connectors, components, and modules, with capabilities in optical, electrical, microwave, high-speed data, and fluid connectors [2][3] - Ruikeda has established itself as a quality supplier in the new energy vehicle connector market, offering a full range of high-voltage connectors [3] Group 2: Market Position and Product Lines - The company has successfully supplied well-known domestic and international automotive manufacturers and electronic system integrators [3] - In the 5G communication market, Ruikeda has developed several new connectors, gaining a competitive edge in the global communication equipment manufacturing sector [3][4] - The company provides comprehensive connector solutions for commercial and residential energy storage systems, including storage connectors and control cabinets [3] Group 3: Future Development and Strategy - Ruikeda aims to strengthen its product R&D and supply capabilities in the new energy sector, focusing on electric vehicles, wind power, photovoltaics, hydrogen energy, and charging facilities [4] - The company plans to expand its overseas market share, particularly in 5G communication and smart driving applications for new energy vehicles [4] - Future production capacity will be enhanced through the establishment of new factories in Taizhou and overseas locations, including Mexico and the USA [4][5] Group 4: Financial Performance and Challenges - In the first half of 2023, the company's revenue and net profit decreased due to changes in customer demand and increased operational costs [5][6] - The gross profit margin has been affected by price reductions to maintain competitiveness, but remains within a reasonable range [6] - The company is implementing cost-reduction measures, including product upgrades and production efficiency improvements, to mitigate the impact of rising costs [5][6]