HGTECH(SZ:000988)2023-11-23 12:36Financial Performance - In the first three quarters of 2023, the company achieved operating revenue of 7.207 billion CNY, a year-on-year decrease of 18.56% due to delays in the construction cycle of small base station businesses [3] - Net profit attributable to shareholders reached 812 million CNY, a year-on-year increase of 12.4% [3] - The net profit after deducting non-recurring gains and losses was 748 million CNY, up 11.06% year-on-year [3] - The operating cash flow amounted to 776 million CNY, showing significant growth [3] Cost Management - Sales expenses decreased by 11.9%, management expenses fell by 7.37%, and financial expenses dropped by 0.74% [3] - The overall effective cost control contributed to the sustained improvement in profitability [6] R&D Investment - R&D investment reached 486 million CNY, an increase of 31.37% year-on-year, accounting for 6.74% of revenue, up 2.56 percentage points [3] - The company emphasizes innovation and talent acquisition as key drivers for sustainable development [3] Business Segments Sensor Business - Revenue from sensor business reached 2.27 billion CNY, with a year-on-year increase of 45% and net profit of 346 million CNY, up 65% [4] - The company maintains a leading position in the new energy vehicle and smart home sectors [4] Laser Equipment and Intelligent Manufacturing - Revenue from laser equipment and intelligent manufacturing reached 2.258 billion CNY, with a net profit of 264 million CNY, a year-on-year increase of 46% [4] - The company has developed several industry-leading products for the new energy vehicle sector [4] Connectivity Business - Overall revenue from connectivity business was 2.289 billion CNY, a year-on-year decrease of 48%, with net profit of 109 million CNY, down 46% [5] - The wireless connectivity segment saw a significant decline of 77% due to delays in operator construction cycles [5] Strategic Developments - The company completed a transformation in March 2021, transitioning from a university-affiliated company to a state-owned high-tech listed company, enhancing decision-making efficiency and management autonomy [7] - The transformation has led to improved profitability, reduced costs, and increased R&D investment [7] Future Outlook - The company plans to expand its product lines and enhance R&D efforts to ensure sustainable growth in the core business areas of perception, connectivity, and intelligent manufacturing [6]