CANNY(SZ:002367)2022-11-21 05:28Group 1: Business Overview - The company primarily engages in the manufacturing, sales, and maintenance of elevators, escalators, and automatic walkways, with applications in residential, commercial, and public sectors [1] - As of January 2022, the company has a total of 13 wholly-owned and holding subsidiaries covering escalator component businesses and related services [1] Group 2: Business Performance - In the first three quarters of 2021, the company achieved a rapid growth in orders, with effective orders amounting to CNY 7.59 billion by the end of Q3 [3] - The company ranked among the top three in terms of total bid amounts for domestic rail transit escalator equipment projects in the first half of 2021 [3] Group 3: Research and Development - The company has maintained stable and sufficient R&D investment, with a total of 1,037 valid patents, including 75 invention patents and 885 utility model patents as of Q3 2021 [3] - The company possesses a state-recognized enterprise technology center and a 288-meter elevator testing tower [3] Group 4: Impact of Raw Material Prices - The rise in steel prices has affected the company's main raw material costs, leading to increased prices from suppliers for purchased components [4] - The company has implemented measures such as prepaying suppliers and signing price-lock agreements to mitigate the impact of rising raw material costs [4] Group 5: Strategic Transformation - The company recognizes the need for comprehensive transformation to maintain rapid growth and healthy development amid increasing industry competition [4] - A three-year systematic management transformation has been initiated to enhance international competitiveness by learning from leading global companies [4] Group 6: Future Development Trends - The elevator industry in China has maintained growth momentum over the past 40 years, although the real estate market challenges in 2021 significantly impacted the industry [5] - The company aims to transition from a manufacturing-focused model to a service-oriented model, enhancing user experience and striving to become a world-class brand [5]