Zhiyang Innovation Technology (688191)2024-04-29 09:44Financial Performance - In 2023, the company achieved a revenue of 798.13 million CNY, an increase of 18.90% year-on-year [2] - The gross profit margin for the reporting period was 34.89%, up by 2.93 percentage points from the previous year [5] - Net profit attributable to the parent company was 41.53 million CNY, a growth of 48.37% year-on-year [2] - R&D investment for 2023 totaled 100.79 million CNY, representing 12.63% of total revenue, with a year-on-year increase of 15.32% [2] - In Q1 2024, the company reported a revenue of 108 million CNY, a 20.43% increase compared to the same period last year [2] Business Segments - The electricity sector accounted for 91.82% of total revenue in 2023, remaining the primary source of income [3] - The water conservancy and rail transit sectors combined accounted for 8.18% of total revenue, a significant increase from 0.71% in the previous year [3] R&D and Innovation - Total R&D investment in Q1 2024 was 22.19 million CNY, a 12.67% increase year-on-year, constituting 20.54% of revenue [2] - The company has established partnerships with several universities and research institutions to enhance its R&D capabilities [5] Strategic Collaborations - In 2019, the company partnered with Huawei to develop AI applications for the electricity sector, leading to several accolades and further collaborations [3] - The company signed a cooperation agreement with Huawei in June 2022, joining the Ascend Partner Program [3] Future Trends - The company is focusing on expanding its presence in the water conservancy sector, supported by government initiatives and policies promoting smart water management [3] - The integration of AI and IoT technologies is expected to enhance operational efficiency and safety in the rail transit sector [5]