VEICHI(SH:688698)2023-11-03 10:24Financial Performance - In the first three quarters of 2023, the company achieved operating revenue of 945.49 million yuan, a year-on-year increase of 42.05% [2] - The net profit attributable to shareholders was 156.95 million yuan, up 36.90% compared to the same period last year [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 150.77 million yuan, reflecting a growth of 54.36% year-on-year [2] - The gross profit margin for the first three quarters of 2023 was 37.96%, an increase of 2.07 percentage points from the end of last year [2] Business Segmentation - Revenue from frequency converter products reached 606.75 million yuan, a growth of 33.65% year-on-year [2] - Revenue from servo systems and control systems was 303.01 million yuan, marking a significant increase of 69.85% compared to the previous year [2] Expense Analysis - Total expenses for the first three quarters were 190.10 million yuan, accounting for 20.11% of revenue [2] - The increase in expenses was primarily due to higher investments in R&D personnel and projects, increased sales expenses to expand market share, and stock-based compensation [2] Product Development and Market Strategy - The company has launched the ECH13 series of brushless hollow cup motors, targeting industries such as robotics and medical equipment [3] - The company aims to achieve high power density and high response rates in its hollow cup motors, with a target speed of 80,000 to 100,000 RPM [3] - The company is focusing on developing a range of products in the robotics sector, including the FO1 series of frameless motors and RB200 series joint modules [3] Industry Performance - Key industries showing strong performance in the first three quarters include machine tools, high-efficiency energy, mining, textiles, and photovoltaics [3] - The company plans to enhance its existing advantages while exploring emerging industries based on market demand [3] International Business and R&D Investment - The company is actively expanding its overseas business, emphasizing technological innovation and enhancing brand influence in international markets [3] - R&D investments are focused on industrial automation, renewable energy, and robotics, with ongoing projects to improve product offerings and integrate new technologies [4] Competitive Positioning - The company has over a decade of experience in the industrial control sector, establishing advantages in R&D, technical reserves, customer resources, and after-sales service [4] - The company adopts a differentiated strategy and focuses on niche markets, maintaining strong growth and recognition from domestic and international clients [4]