VEICHI(SH:688698)2022-11-19 03:14Group 1: Market Insights - The real estate investment in Q1 increased by over 10% year-on-year, with the construction machinery market share for the company at 27.9% in 2021 [2] - The company aims to leverage its experience in the construction hoisting machinery market to explore other segments within the hoisting industry [2] - The company identifies opportunities in sectors like semiconductors, textiles, robotics, and medical industries due to the push for domestic production and key technology breakthroughs [3] Group 2: Product Development and Strategy - The company is focusing on high-efficiency electric motor applications under the national dual-carbon strategy, enhancing core technology and product iterations [2] - The company plans to develop servo systems alongside frequency converters, with a focus on optimizing production processes and reducing costs [5] - The PLC product line has been launched, with the VC1S and VC3 series already in mass production and receiving positive customer feedback [6] Group 3: Financial Performance and Management - The total expenses for the year reached 150 million CNY, an increase of 18.41% year-on-year, attributed to expanded sales scale [11] - R&D expenses grew by 44.09% in 2021 and 39.75% in Q1 2022, totaling 172 million CNY from 2019 to 2021 [11] - The company has implemented measures to manage rising raw material costs, including strategic agreements with suppliers and optimizing product design [7] Group 4: Supply Chain and Logistics - The company has not faced production or delivery issues due to raw material shortages, thanks to proactive supply chain management [10] - Inventory increased by 40.78% year-on-year, primarily due to strategic stockpiling of essential components like IGBT modules and chips [11] - The company is enhancing its logistics capabilities to ensure timely delivery despite challenges posed by the pandemic [12] Group 5: Future Outlook - The company is expanding its production capacity with the construction of a new automation production base, expected to enhance overall output [12] - The focus will remain on high-end manufacturing sectors, including lithium battery equipment and photovoltaic devices, to support future growth [12] - The company is actively exploring new markets and maintaining strong relationships with existing clients to drive performance [12]