FORE(301368)2023-10-27 08:51Group 1: Company Overview - Zhejiang Fengli Intelligent Technology Co., Ltd. specializes in the research, production, and sales of small modulus gears, precision reducers, and components, with applications in various fields such as new energy vehicles, robotics, and medical devices [2][3]. Group 2: Financial Performance - For the reporting period of 2023, the company reported a revenue of CNY 316.739 million, a decrease of 9.56% compared to the same period last year. However, the third quarter revenue was CNY 117 million, showing a year-on-year increase of 7.61% [3]. - The comprehensive gross profit margin for the reporting period was 18.91%, remaining stable compared to the previous year [3]. Group 3: Expense Analysis - Sales expenses increased by 100.1% year-on-year, attributed to higher promotional activities and increased travel for sales personnel [3]. - Management expenses rose by 61.44%, primarily due to the depreciation from a newly constructed factory that was completed in December of the previous year [3]. - Net profit decreased by 30.33% due to the aforementioned increases in expenses and the costs associated with relocating seven business units to a new facility [3]. Group 4: Research and Development - As of June 30, 2023, the company held 50 patents, including 11 invention patents, and had 15 invention patents pending [3]. - R&D investment accounted for 3.62% of total revenue, showing a slight increase compared to the previous year [3]. Group 5: Future Outlook - The company anticipates a reduction in expenses next year as all business units complete their relocations, which will also lead to increased production capacity [3]. - Key focus areas for future growth include precision reducers (harmonic), new energy transmission gears, and intelligent cabin drives [3].