On the evening of the 8th, Yingweiteng announced the 2023 annual report, the company’s total revenue was 4.590 billion yuan, an increase of 12.03%; Net profit increased 35.06% to 371 million yuan. The performance of overseas markets was particularly eye-catching, with operating income reaching 1.475 billion yuan, up 30.65% year-on-year, accounting for 32.14% of the total operating income.

The company’s business covers industrial automation, network energy, new energy vehicles and photovoltaic energy storage. The main products include frequency converter, servo system, motor, controller, human-machine interface, sensor, elevator drive system, industrial Internet, electric drive, vehicle power supply, charging pile, data center system, photovoltaic and energy storage inverter system.

IOM4.2 The company’s industrial automation business also performed strongly, with operating revenue reaching 2.542 billion yuan, accounting for 55.40% of the total operating revenue, and gross margin increasing by 1.91% year-on-year to 37.86%. The network energy business is also not to be underestimated, accounting for 17.98% of the total operating revenue, and gross margin increased by 6.05% year-on-year to 34.32%.

In terms of market expansion, Inwitten has made continuous breakthroughs, especially in the industrial automation project market, and has achieved remarkable results, with sales of several industries and products exceeding the 100 million yuan mark. The rapid growth of overseas markets is also part of the company’s strategy, and the company has achieved a fast growth rate in the development of overseas projects. In terms of capacity infrastructure, the company has increased investment, the second phase of Suzhou Industrial Park has been completed, and is planning the third phase of construction.

As an important supplier in the domestic industrial automation industry, Inwitten’s market share continues to grow steadily. According to the data of China Industrial Control network, China’s low-voltage inverter market demand increased by 2.50%, and the market size reached 25.5 billion yuan, an increase of 4.10%. Inwitten firmly grasped the import substitution opportunities, focusing on the development of mining, lithium, photovoltaic, logistics and other industries, and its share in China’s low-voltage inverter market has increased to 5.30%, ranking sixth.

IOM4.2

In the network energy business, Inwiton provides products including micro-module data centers, power supply and distribution products, intelligent temperature control products and intelligent monitoring products, mainly providing integrated solutions for data center critical infrastructure. According to the report released by the China Electronics Information Industry Development Institute, the company’s modular UPS power supply products rank second in the Chinese market share, and have maintained this ranking for seven consecutive years.

IOM4.2 In the field of new energy vehicle drive and control, Inwitten has established a complete industrial layout from vehicle drive and control to vehicle power supply, and has industry-leading independent core patented technology. The company’s electronic control products have the advantages of efficient and accurate control, high integration, high reliability and high safety, the product power range from 3kW to 500kW, the voltage range covers 24V to 800V, can meet the project needs of different customer models.

Inwitten continues to deepen and expand the application of various products in the field of subdivided industries, carry out in-depth cooperation with well-known enterprises in the industry, and make breakthroughs in oil, steel, building materials and other industries to help customers achieve domestic upgrading. In the field of industrial automation, the company launched a new generation of small PLC TS600, Flex series basic I/O and EtherCAT, Profinet coupler and other new products to meet the market demand for high efficiency and lean production.

In terms of research and development, the company’s investment amount reached 428 million yuan in 2023, an increase of 6.49%. The company has a research and development technology team that ranks among the best in China in terms of scale and development capability, and has mastered the core technology of inverter, PLC, servo system, electric vehicle control system and other products, and has made breakthrough progress in many fields. As of the end of the reporting period, the company had a total of 1,538 patents granted, including 414 invention patents and 750 utility models.

Yingweiteng said that it will continue to adhere to the strategic policy of “meet the trend, cast the core, build the future, and go far”, focusing on the research and development of core technologies, the creation of core products and the training of core talents. The company will continue to increase research and development investment in industrial automation, network energy, new energy vehicles and photovoltaic energy storage and other fields to promote continuous innovation of products and technologies to adapt to market changes and customer needs, and achieve sustainable development of the company.