SINEE(SH:688395)2024-06-14 07:36Company Overview - Established in April 2003, Shenzhen Sine Electric Co., Ltd. specializes in the research, production, and sales of motor drive and control system products in the industrial automation sector, being one of the earliest companies in China to develop and produce frequency converters [1] - The company provides frequency converters, integrated special machines, servo system products, and new energy system solutions primarily to machinery manufacturers and electric control system integrators [1] Financial Performance - The gross profit margin for Q1 2024 was 34.66%, an increase of 4.83 percentage points year-on-year [2] Raw Material Impact - Overall raw material prices have remained stable, with only minor fluctuations in some materials. The company has implemented strategies such as optimizing product structure and processes, promoting cost reduction and efficiency, and establishing strategic partnerships with suppliers to mitigate potential impacts on production costs [1] Overseas Market Development - In Q1 2024, overseas sales revenue increased due to enhanced overseas sales and promotion teams and increased R&D investment in customized products for overseas clients. The primary markets include Southeast Asia, India, the Middle East, Africa, and the CIS, although the overall sales scale remains small [2] Energy Storage Products - The company's energy storage products are mainly focused on microgrid storage and engineering machinery, with some applications requiring integrated solar storage solutions [2] New Industry Focus - The company is actively expanding into emerging industries, particularly in the photovoltaic, lithium battery, and new energy sectors, which are still in the development phase [2]