Sinexcel Electric(300693)2025-03-11 09:56Company Overview - Shenzhen Shenghong Electric Co., Ltd. was established in 2007 and listed on the Growth Enterprise Market in August 2017. The company has established manufacturing and R&D centers in various locations, including Huizhou and Xi'an, and has global subsidiaries in the USA, Germany, Australia, Singapore, and South Korea [2][3]. - The company operates in four main business areas: - Power Quality: A global provider of comprehensive power quality solutions, with over 20,000 projects and a leading market share in active filters [3]. - Energy Storage Microgrid: A leader in modular energy storage systems, with over 12GW of installed capacity across 60+ countries [3]. - Charging and Swapping Services: A pioneer in self-developed charging modules and systems, recognized as one of the top ten influential brands in China's charging and swapping industry [3]. - Battery Formation and Testing: Provides solutions for battery manufacturers and recycling enterprises, covering 10 regions across 3 continents [3]. Market Outlook - The company anticipates a shift in the domestic energy storage market from "policy-driven" to "value-driven," leading to accelerated innovation in business models and a competitive landscape favoring companies with advanced technology and cost control [4]. - The global energy storage market is expected to grow, with emerging markets in the Middle East also showing rapid demand growth [4]. Product and R&D Focus - The industrial power supply business includes products like active filters and uninterruptible power supplies, addressing issues such as power quality and safety [5][6]. - In 2023, the company's R&D investment was 231 million CNY, accounting for approximately 9% of its revenue, with a consistent investment level over the past years [6]. - Future R&D will focus on four main areas: industrial power supply, new energy conversion equipment, electric vehicle charging services, and battery testing and formation equipment [6]. Profitability and Strategic Management - The company maintains a stable gross profit margin through strategies such as optimizing product structure, controlling costs, enhancing supply chain management, and expanding domestic and international markets [6]. - Currently, there are no plans for acquisitions or mergers, but the company remains vigilant about market opportunities that align with its business direction [6].