ESTUN AUTOMATION(SZ:002747)2022-12-04 09:02Financial Performance - Gross margin increased by 0.73% year-on-year, attributed to optimized product design, lean production, and improved operational efficiency [3] - Net profit attributable to the parent company rose by 0.69% year-on-year, driven by cost reduction and enhanced management practices [3] - Operating cash flow remained positive due to careful selection of industries and clients, strict accounts receivable management, and risk control measures [3] Revenue Trends - Revenue decreased by 6% year-on-year, with the motion control solutions segment now accounting for over 50% of the motion control revenue [3] - The robotics business continued to grow, with applications in metal processing, photovoltaic assembly, and woodworking [4] - The CNC system business saw a slight decline in revenue, but market share remained stable [4] Research and Development - R&D investment accounted for 12.16% of revenue in the first half of 2019, with a total workforce of 1,779, including 630 R&D personnel (approximately 35%) [4] - The company maintains a strong focus on patent quantity and quality [4] Market Outlook - The company is optimistic about growth opportunities in emerging industries such as new energy lithium batteries and photovoltaic equipment [4] - There is no significant change in overall market demand observed [5] Risk Management - The company has a loan and cash management gap of over 400 million, primarily due to previous acquisition financing [6] - The company aims to keep the debt-to-asset ratio at a reasonable level while managing cash flow and controlling accounts receivable [6] International Business - International revenue grew by 15% in the first half of 2019, mainly driven by the growth of TRIO [6] - The company is considering further expansion into overseas markets [6]