A：Company Basic Information
Company Full Name: Shenzhen Inovance Technology Co., Ltd.
Stock Code: 300124.SZ
Stock Abbreviation: Inovance Technology
Region: Shenzhen, Guangdong Province
Industry: Electrical Machinery and Equipment Manufacturing
Establishment Date: April 10, 2003
Issue Price: The company was restructured and listed on the Growth Enterprise Board on September 28, 2010; the specific issue price is not publicly accessible
Founder: Zhu Xingming
Company Website: http://www.inovance.com/
Registered Address: Unit 1, 1st Floor, Inovance Technology Headquarters Building, No. 6 Lanqing Second Road, Luhu Community, Guanhu Subdistrict, Longhua District, Shenzhen
Total Shares: As of June 30, 2024, the total number of shares is 2,678,142,081
Market Capitalization: As of June 30, 2024, the market capitalization is 123.963 billion yuan
Business Scope: The company focuses on the research and development, production, and sales of industrial automation control products, with main products including general automation, new energy vehicles, smart elevators, rail transit, etc.
Company Profile: Since its establishment in 2003, Inovance Technology has been dedicated to the field of industrial automation control. Through continuous technological innovation and product expansion, it has become a leading enterprise in the domestic industrial automation control field. The company is committed to promoting industrial civilization and creating a better life, dedicated to providing customers with personalized solutions, possessing independent intellectual property rights in industrial automation control technology, and serving high-end equipment manufacturers.
B：Value Investment Analysis
Key Financial Indicators:
In 2023, Inovance Technology achieved a total operating income of 30.42 billion yuan, a year-on-year increase of 32%; achieved an operating profit of 4.742 billion yuan, a year-on-year increase of 10%.
R&D investment of 2.624 billion yuan, with more than 20,000 employees, including 5,482 R&D personnel engaged in core platform technology research, application technology research, and product development.
Company Investment Value:
Inovance Technology has a deep technological accumulation in the field of industrial automation control, with a rich product line, able to provide customers with comprehensive automation solutions, and has a high market recognition and brand influence.
The company continues to increase R&D investment, promote technological innovation, and possesses a number of independent intellectual property rights, providing strong technical support for the company's continuous development.
Company Growth Potential:
With the continuous advancement of industrial automation, digitalization, and intelligentization, the market space for the industry in which Inovance Technology is located is broad. The company, with its technological advantages and market position, is expected to achieve sustained growth.
The new energy vehicle business, as a new growth point for the company, is expected to achieve rapid growth in this field with the rapid development of the global new energy vehicle market, becoming an important growth driver for the company in the future.
Industry Support Policies:
The state provides policy support for the fields of high-end equipment manufacturing, new energy vehicles, intelligent manufacturing, etc., providing a good external environment for the company's development.
International Policy Risks:
International trade friction may have a certain impact on the company's export business, but the company has effectively diversified international policy risks through global layout and localization strategy.
A.Top's Investment Review:
As a leading enterprise in the field of domestic industrial automation control, Inovance Technology shows good investment value and growth potential with its technological innovation capabilities and market development capabilities. With the in-depth advancement of industrial automation, digitalization, and intelligentization, the company is expected to achieve sustained and stable growth.