LY iTECH(SZ:002600)2022-11-23 09:16Group 1: Company Overview - Lingyi Technology is a global leader in precision manufacturing, providing "one-stop" intelligent manufacturing services and solutions for clients worldwide [2] - The company's main business covers the entire industry chain, including materials, precision functional parts, structural components, and modules, widely applied in consumer electronics, new energy vehicles, and clean energy sectors [2] Group 2: Financial Performance - In Q3 2022, the company achieved operating revenue of 9.864 billion CNY, a year-on-year increase of 11.00% [3] - For the first three quarters of 2022, the operating revenue reached 24.669 billion CNY, up 14.06% year-on-year [3] - Q3 net profit was 0.745 billion CNY, a decrease of 14.7% year-on-year, while the net profit for the first three quarters was 1.226 billion CNY, down 3.42% [3] - The company reported a Q3 non-net profit of 0.931 billion CNY, an increase of 16.15% year-on-year, with a first three quarters non-net profit of 1.398 billion CNY, up 36.38% [3] Group 3: Strategic Focus and Future Outlook - The company aims to enhance processing technology and precision capabilities, focusing on precision functional parts while extending into material fields and downstream module products [3] - Lingyi Technology is actively expanding into high-growth sectors such as new energy vehicles and clean energy, adhering to a customer-centric service philosophy [3] - The automotive business has shown rapid growth, with revenue reaching 0.443 billion CNY in 2021, reflecting a compound annual growth rate of 93.8% from 2019 to 2021 [3] - The company holds over 35% market share in the global power battery market and over 55% in the Chinese market [3] Group 4: Product Development and Market Expansion - The company is expanding its overseas production bases to enhance global delivery capabilities [5] - In the emerging consumer electronics sector, products like TWS headphones, smartwatches, and VR/AR devices are experiencing rapid growth, with VR expected to see a 46.9% year-on-year increase in shipments in 2022 [5] - Lingyi Technology plans to continue strengthening its overseas development strategy and international smart manufacturing platform [4] Group 5: Capital Expenditure and Investment Strategy - In 2022, the company strategically adjusted its investment activities, with capital expenditures in the first three quarters lower than the same period in 2021 [5] - The company plans to focus on its main business, deepen investments in consumer electronics, and expand production bases while also increasing efforts in new energy vehicles and clean energy sectors [5]