Ningbo Sunrise(SZ:002937)2023-11-30 01:46Company Overview - Ningbo Xingrui Electronic Technology Co., Ltd. was established in 2001 and listed on the Shenzhen Stock Exchange in September 2018. The company's products are primarily used in smart terminals, automotive electronics, and new energy vehicle electrical systems [3]. Financial Performance - In the first three quarters of 2023, the company achieved operating revenue of CNY 1,486.76 million, a year-on-year increase of 17.51%. The net profit attributable to shareholders was CNY 189.92 million, reflecting a growth of 32.24% [3]. - In Q3 2023, the company reported operating revenue of CNY 519 million and a net profit of CNY 74.24 million, with a net profit margin of 14.27%, marking a new high since the same period last year [3]. - The weighted average return on net assets was 14.15%, and the net cash flow from operating activities reached CNY 275 million, a significant increase of 256.23% year-on-year [3]. - The gross profit margin improved to 26.57%, up by 1.88% compared to the previous year [3]. Business Segments - The automotive electronics and new energy vehicle sectors accounted for over 48% of total operating revenue, with a year-on-year growth of 70%. The new energy vehicle segment represented over 70% of the automotive electronics revenue and achieved a doubling in growth [3]. Product Development - The company has expanded its product line in smart terminals from smart set-top boxes and network communication components to smart security and smart meter components [4]. - In the new energy vehicle sector, the company has developed embedded injection products (BDU/BMU) and has gained recognition from leading domestic automotive manufacturers, increasing its coverage of end models [4]. - The trend towards integrated components in new energy vehicles is evident, with the company leveraging its capabilities in embedded integration to provide safer and more efficient solutions [4]. Production Capacity - The company is expanding its production capacity across six domestic and international bases. A new production base for new energy vehicle components is expected to increase capacity by 40-50% upon completion in the first half of 2024 [5].