ESTUN AUTOMATION(SZ:002747)2022-12-04 10:12Group 1: Company Overview - The company, Nanjing Estun Automation Co., Ltd., was listed in 2015 and has undergone three annual information disclosure assessments by the exchange since then [1]. Group 2: Inventory and Receivables Management - Since acquiring M.A.i. in October 2017, the company has seen an increase in revenue from intelligent manufacturing system integration, which has led to a higher proportion of non-standard products in its revenue mix [2]. - The company has not improved its inventory turnover and accounts receivable turnover rates in recent years due to the nature of its non-standard intelligent manufacturing system integration business [2]. - In the second half of 2018, the company faced reduced downstream investment demand due to macroeconomic conditions, prompting it to abandon some system integration orders with poor payment conditions, which positively impacted inventory and receivables management [2]. - The company has reallocated resources from intelligent manufacturing system integration to standardized robotic products to reduce inventory and improve receivables collection conditions [2].