Inventronics (Hangzhou)(SZ:300582)2023-12-11 00:56Group 1: Major Asset Acquisition and Integration - The major asset acquisition project has been fully completed and is now in the post-integration phase, focusing on personnel, operations, corporate culture integration, and customer allocation [1] - A new organizational structure has been established to ensure orderly operations of the acquired assets and continuity of business [1] - The original management team and the management team of the acquired business are working together to align corporate culture, vision, and values [1] Group 2: Sales and Marketing Expenses - Sales expenses increased in 2023 due to the completion of the major asset acquisition and the rise in expenses from increased participation in international exhibitions and face-to-face meetings with overseas clients [1] - The company participated in several international exhibitions, including events in Dubai, Warsaw, and Hong Kong [1] Group 3: Risk Management - The company emphasizes compliance and risk management in its global operations to mitigate political and legal risks [2] - The global layout and compliance operations help balance risks from international political and economic changes [2] Group 4: Revenue Sources - Revenue from road lighting applications is the highest among the original business, while commercial lighting and plant lighting applications also contribute significantly [2] - The company is focusing on investment opportunities in the upstream LED sector and energy storage/new energy directions [2] Group 5: Information Technology Development - The company has completed the construction of a global information operation platform covering supply, production, sales, and finance [2] - Information technology integration is a priority post-acquisition, with significant investments required for the integration of information systems [2] Group 6: International Business and Currency - The company's overseas business primarily uses foreign currency for transactions, with USD used in North America and EUR in Europe [3] Group 7: Product Profitability - The overall product gross margin has decreased due to differences in business models and product power, as well as increased procurement costs during the integration phase [3] - Future efforts in post-acquisition integration are expected to lower costs and improve product gross margins [3] Group 8: Future Development in New Energy - The company aims to leverage its strengths in power electronics technology and global supply chain to seize opportunities in the new energy charging and storage markets [4] - In the first half of 2023, the company invested CNY 27 million in Xi'an Jingstone Electric Technology Co., holding a 20% stake, focusing on distributed photovoltaic storage and energy management systems [4]