SIEYUAN(SZ:002028)2023-10-24 10:17Business Overview - The company operates three business units focused on automotive electronics and collaborates with major automotive manufacturers [1] - The automotive electronics business is expected to launch competitive products with production anticipated in the second half of 2024 [1] Financial Performance - The company's overall gross margin has improved year-on-year and quarter-on-quarter, attributed to efficiency gains from platform operations, automation, and quality management [2] - The company has engaged a professional evaluation agency to assess goodwill related to GMCC [1] Market Strategy - Domestic and overseas market orders are approximately in an 80:20 ratio, with strong performance noted in Latin America, the Middle East, and Europe [2] - The company is expanding its product lines in medium and low voltage switchgear, with new production lines already operational [2] Research and Development - Increased R&D investment this year focuses on new product development, power storage components, and digital grid technologies [3] - The company is actively exploring applications for power storage components and has made significant advancements in automotive electronics [3] Production Capacity - The transformer industry is experiencing stable supply, with the company’s new production base now operational to meet increasing demand [4] Environmental Initiatives - The company is advancing its environmental product offerings, particularly in overseas markets, and is involved in several research projects aligned with strategic customers [3]