Meter Instruments(SZ:301006)2022-11-22 03:08Group 1: Company Overview and Market Demand - Maito Instrument Co., Ltd. focuses on the development of electronic water meters, transitioning from mechanical to electronic devices [1] - The annual demand for smart water meters in China is approximately 70 million units, with a rising trend in the adoption of smart technology [1][2] Group 2: Ultrasonic Water Meter Market - The market penetration of ultrasonic water meters is currently below 1%, but it is expected to increase significantly as acceptance grows [2] - Sales of the company's ultrasonic water meters increased from 9,000 units in 2015 to over 750,000 units last year, indicating a growing market recognition [2] Group 3: Advantages of Ultrasonic Water Meters - Ultrasonic water meters have no mechanical moving parts, leading to stable measurement accuracy and a longer lifespan [2] - They offer high measurement precision, low starting flow rates, and minimal flow resistance, contributing to energy savings [2] Group 4: Technology and Pricing - The pricing of ultrasonic water meters is generally about 20% higher than that of smart mechanical water meters, while their costs are comparable [3] - The company’s core technologies include ultrasonic flow sensors, zero-point control, and low-power consumption technologies [3] Group 5: Future Developments - The company’s NB-IoT wireless communication technology for water meters is mature, with increasing sales year by year, indicating a trend towards this technology in future water meter development [3] - The company is considering equity incentives to attract and retain high-end technical talent [3]