BROAD-OCEAN MOTOR(SZ:002249)2022-12-06 02:31Financial Performance - In Q1 2017, the company achieved operating revenue of 176,908.84 million yuan, a year-on-year increase of 31.22% [3] - Net profit for the same period was 5,312.97 million yuan, with a decrease of 33.01% compared to the previous year [3] - The decline in performance is attributed to short-term impacts from policy changes affecting the new energy vehicle sector [3] Market Growth and Product Development - The company anticipates a growth rate of 15%-20% in home appliances and electrical motors, driven by domestic market expansion and product upgrades [3] - New products, such as high-efficiency smart motors, are expected to have higher gross profit margins [3] Automotive Industry Engagement - The company entered the new energy vehicle powertrain system business in 2009, transitioning from a traditional home appliance supplier [4] - Acquisitions from 2013 to 2015, including Beijing Petrel and American Petrel, enhanced the company's influence in the automotive sector [4] - In 2016, the acquisition of Shanghai Electric Drive positioned the company as the largest independent supplier of new energy vehicle powertrain systems in China [4] Research and Development - The company employs over 1,000 technical personnel and invested 288 million yuan in R&D in 2016, with annual R&D expenditures on the rise [5] - It has established R&D centers in multiple locations, including Zhongshan, Beijing, Shanghai, and the USA, and holds nearly 1,800 patents [5] Strategic Partnerships and Future Outlook - The company collaborates with major domestic vehicle manufacturers, including BAIC, Changan, and Chery, and aims to leverage international channels for exporting new energy vehicle powertrain systems [4] - A recent agreement with Ballard for fuel cell module assembly is expected to enhance the company's product offerings in commercial and logistics vehicles [5]