Wetown Electric(688226)2024-11-15 08:34Group 1: Financial Performance - The company achieved operating revenue of 2.745 billion yuan in Q3 2024, representing a year-on-year growth of 36.73% [2] - The net profit attributable to the parent company was 109 million yuan, an increase of 28.64% compared to the same period last year [2] Group 2: Business Development - The distribution equipment business is the company's core area, with busbar products being the key products [2] - The company plans to enhance market expansion efforts while maintaining steady growth in busbar products and accelerating the development of complete electrical systems and transformers [2] Group 3: Revenue Fluctuations - The decline in Q3 revenue was attributed to factors such as market conditions and order delivery cycles, affecting the distribution equipment, energy storage systems, and photovoltaic materials businesses [2] - The company has a good order backlog and is actively conducting production operations to meet customer delivery needs [2] Group 4: Strategic Partnerships - The joint venture with ABB is based on long-term cooperation and aims to leverage both parties' strengths in the electrical industry for the research, production, and sales of low-voltage busbars [2] - The collaboration is expected to attract more partners and customers by utilizing the advantages of both companies [2]