YINLUN(SZ:002126)2023-10-27 12:03Group 1: Financial Performance - In the first three quarters of 2023, the company achieved a revenue of 7.992 billion CNY, representing a year-on-year growth of 33.19% [6] - In Q3 2023, the revenue was 2.73 billion CNY, showing a year-on-year increase of 27.94% and a quarter-on-quarter growth of 0.85% [6] - The passenger vehicle and new energy segment generated 3.7 billion CNY in revenue for the first three quarters, up 53.4% year-on-year, with Q3 revenue of 1.35 billion CNY, reflecting an 11% quarter-on-quarter increase [6] - The new energy business alone achieved 2.3 billion CNY in revenue for the first three quarters, marking an 87% year-on-year growth, with Q3 revenue of 1.05 billion CNY, a 70% quarter-on-quarter increase [6] - The commercial vehicle and non-road segment reported 3.54 billion CNY in revenue for the first three quarters, a 20.2% increase year-on-year, with Q3 revenue of 1.15 billion CNY, down 4.6% quarter-on-quarter [6] - The industrial and civil segment generated 430 million CNY in revenue for the first three quarters, a 25% year-on-year increase [6] Group 2: Profitability - In Q3 2023, the net profit attributable to shareholders was 158 million CNY, a year-on-year increase of 58.1%, with a slight quarter-on-quarter decrease [6] - The non-recurring net profit was 155 million CNY, up 69.7% year-on-year and 5% quarter-on-quarter, with a quarter-on-quarter growth of 22% when excluding the impact of consolidated gains and losses [6] - The gross profit margin for Q3 was 21.99%, an increase of 1.08 percentage points quarter-on-quarter, with the non-recurring net profit margin improving for seven consecutive quarters [6] Group 3: Market Position and Strategy - The company holds over 90% market share in the domestic natural gas heavy truck engine sector, benefiting from increased penetration of natural gas heavy trucks [7] - The Mexican factory is expected to turn profitable in Q4 2023, following a period of preparation and ramp-up in production [7] - The company has established a differentiated competitive advantage in the North American market, focusing on R&D capabilities and product iteration speed compared to domestic peers and customer response speed against foreign competitors [7]