HGTECH(000988)2023-11-02 09:52Financial Performance - Revenue for the first three quarters reached 7.207 billion CNY, a year-on-year decrease of 18.56% due to delays in small base station business [3] - Net profit attributable to shareholders was 812 million CNY, a year-on-year increase of 12.4% [3] - Net profit excluding non-recurring items was 748 million CNY, a year-on-year increase of 11.06% [3] - Operating cash flow reached 776 million CNY, showing significant growth [3] Cost Management - Sales expenses decreased by 11.9%, management expenses decreased by 7.37%, and financial expenses decreased by 0.74% [3] - Overall cost control measures contributed to improved profitability [6] R&D Investment - R&D investment for the first three quarters was 486 million CNY, an increase of 31.37% year-on-year, accounting for 6.74% of revenue [3] - Emphasis on innovation and talent acquisition to strengthen core competitiveness [3] Business Segments Performance Perception Business - Revenue from sensor business reached 2.27 billion CNY, a year-on-year increase of 45% [4] - Net profit from sensor business was 346 million CNY, a year-on-year increase of 65% [4] Intelligent Manufacturing - Revenue from intelligent manufacturing and laser equipment reached 2.258 billion CNY, with a net profit of 264 million CNY, a year-on-year increase of 46% [5] - Intelligent equipment segment revenue was 1.27 billion CNY, a year-on-year increase of 17% [5] Connectivity Business - Overall revenue for the connectivity business was 2.289 billion CNY, a year-on-year decrease of 48% [6] - Wireless connectivity revenue dropped by 77% due to delays in operator construction cycles [6] Strategic Initiatives - Focus on innovation and development of high-value products in the fields of perception, connectivity, and intelligent manufacturing [6] - Plans to expand product lines in response to the growing demand for AI applications and data center bandwidth [9] Corporate Governance - The completion of the corporate restructuring in 2021 has improved decision-making efficiency and management quality [7] - The restructuring has established a long-term incentive mechanism for core employees, enhancing innovation and entrepreneurial spirit [7] Market Positioning - The company holds over 60% market share in PTC thermal management systems for electric vehicles and approximately 30% in automotive sensors [8] - The company is positioned as a leader in the domestic market for various advanced manufacturing solutions [8]