Zhejiang Zhaolong Interconnect Technology (300913)2023-05-08 10:21Business Expansion and Investment - The company plans to invest up to $30 million in building a production base in Thailand, focusing on data cables, specialty cables, and connectivity products [2][3] - The Thai factory will target global markets, with a focus on Europe, the US, and Southeast Asia [3] - In 2022, export business accounted for 61.78% of total revenue, with products sold to over 100 countries and regions [4] Competitive Advantages - The company has nearly 30 years of experience in the digital communication cable manufacturing industry, with advantages in business scale, customer resources, R&D technology, product qualifications, and quality control [3] - The company's 6 and 6A cabling systems have passed third-party permanent link and multi-node channel tests, and modules have received ETL certification [3] - The company's high-speed transmission cables and components have a power consumption of less than 0.1W, significantly lower than optical modules and active optical cables, reducing data center construction and cooling costs [3] Financial Performance - In 2022, the company achieved revenue of 1.611 billion yuan, a year-on-year increase of 9.99%, and net profit attributable to shareholders of 130.46 million yuan, a year-on-year increase of 47.80% [5] - Data cables accounted for 77.35% of total revenue, with a gross margin of 13.10%; specialty cables accounted for 9.02% of revenue, with a gross margin of 36.61%; connectivity products accounted for 8.02% of revenue, with a gross margin of 29.26% [6] R&D and Innovation - In 2022, the company invested 59.77 million yuan in R&D [5] - The company is capable of mass-producing high-speed transmission cables and components with transmission rates of up to 400Gbps and is further optimizing and developing higher-speed products [3] - The company has developed high-speed passive copper cable components with a power consumption of less than 0.1W, which are more cost-effective than optical modules and active optical cables for short-distance applications [6] Green and Sustainable Development - The company has built an 8MW rooftop photovoltaic power generation project, which generated 13.55 million kWh of electricity by the end of 2022, providing 2.32 million kWh of green electricity to society and saving 1,665 tons of standard coal [6] - The company's high-speed passive copper cable components can save approximately 5 million kWh of electricity annually compared to using 100G active optical cables for 100,000 servers [6] - Six types of digital communication cables from Cat 5e to Cat 8 have received national green design product certification [6] Automation and Smart Manufacturing - The company has implemented CRM and ERP systems to improve customer management, internal collaboration, and operational efficiency [7] - The company has introduced a WMS intelligent warehousing system to enhance logistics efficiency and inventory turnover [7] - The company has been recognized as a provincial-level smart factory (digital workshop) [7] Future Growth Opportunities - The company is focusing on the growing demand for 6A and above data cables and cabling systems, particularly in overseas markets [4][7] - The company is exploring opportunities in the "East Data West Computing" project and the increasing demand for AI computing power [7] - The company is expanding its product lines in industrial automation, special equipment, medical, and new energy fields, with stable growth in these areas [5]