FOREVER TECHNOLOGY(SZ:300365)2023-10-26 07:41Financial Performance - As of the end of Q3 2023, the company achieved a revenue of 338 million CNY, representing a year-on-year increase of 5.09% [2] - The net profit attributable to ordinary shareholders was approximately 14.28 million CNY, a decrease of 28.73% compared to the previous year [3] - The net cash flow from operating activities was -107 million CNY, down 19.57% year-on-year [3] Market Opportunities - By the end of 2022, the number of new energy vehicles in China reached 13.1 million, with projections indicating that by 2025, the total will exceed 50 million, achieving a penetration rate of over 50% [3] - The charging infrastructure market is expected to grow significantly, with forecasts suggesting that by the end of 2025, the market space in Guangdong province alone will exceed 20 billion CNY, and the national market could reach hundreds of billions [3] Business Strategy - The company focuses on the strategic positioning of being a "platform software and industry digitalization service provider," emphasizing platform and software, design consulting, and core business in industry digitalization [2] - The company is actively developing a smart charging network, providing comprehensive services including site planning, design, energy access, installation, and digital operation for charging pile manufacturers and operators [3] Technological Advancements - The company has significant technical reserves in virtual power plants, aiming to provide decision-making support platforms for resource aggregators, including distributed generation management and charging pile resource management [4] - A recent project involving 800,000 kW of photovoltaic and 200,000 kWh of energy storage has been successfully connected to the grid, expected to provide approximately 1.613 billion kWh of clean electricity annually, meeting the needs of about 900,000 households [4] Corporate Actions - The company decided to terminate the acquisition of a 20% stake in Yangye New Energy due to a lack of substantial progress in negotiations, prioritizing the interests of the company and its shareholders [5] - The increase in contract liabilities is attributed to the smooth progress of projects and the receipt of advance payments from clients, with revenue not yet recognized due to pending final acceptance [5]