The growth rate of R&D investment accelerated, and the gross profit margin of low-voltage electrical appliances increased

In today’s rapid development of science and technology era, R & D innovation has become the core competitiveness of all walks of life, especially in the field of low-voltage electrical appliances, its importance is self-evident. As can be seen from the financial report released by Chint Electric, the company has a large proportion of investment in research and development design and product solution iteration and upgrading. The company’s annual research and development expenses amounted to 1.179 billion yuan, an increase of 3.77%; Research and development expenses in the first quarter of 2024 were 275 million yuan, an increase of 14.58%.

PXIE-4081 During the reporting period, Chint Electric developed new products with technological innovation, drove market demand with value creation, supported healthy business growth, continued to increase research and development efforts, and successfully launched a number of new products and solutions, significantly enhancing market competitiveness. In terms of product research and development, it focuses on key industries such as power, new energy, process industry and 5G communication, and provides technological and product breakthroughs for the head customers, which further promotes the growth of the company’s market share.

During the reporting period, Chint low-voltage electrical business achieved revenue of 20.38 billion yuan, an increase of 7.84%; Gross profit margin was 28.04%, an increase of 1.85 percentage points year-on-year.

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In addition, according to the diversification of customer needs, Chint Electric continues to iterate on the industry head customer customized needs, the implementation of agile transformation and R & D “fine” management. For example, E series products such as new energy AC and DC plasticids, frames, isolation switches, intelligent 3 series circuit breakers, NB2 small circuit breakers, power grid new 5P plasticids, frame circuit breakers, special application scenarios for inverters, contactors and other industrial control products, automation products, etc., were listed in the report period. Moreover, according to the industry characteristics of downstream customers, Chint Electrical has built more than 50 technical service stations to realize the overall sharing of technical service resources and local rapid response.

PXIE-4081 At the same time, the company firmly grasp the opportunity of international energy transformation, build new quality productivity for enterprise development with scientific and technological innovation and breakthrough, and promote the construction of international and domestic standardization. As of the end of the reporting period, Chint has applied for more than 8,000 patents, granted more than 6,000 patents, and participated in 156 standard revisions.