Yonggui Electric Semi-Annual Report

Founded in 1973, Yonggui Electric was listed on the ChiNext board of the Shenzhen Stock Exchange on September 20, 2012 (Stock Abbreviation: Yonggui Electric; Stock Code: 300351). The company focuses on the research and development, manufacturing, sales, and technical support of various electrical connectors, connector assemblies, and precision intelligent products. The goal is to become a world-class interconnect solutions provider.

Key Financial Indicators

Operating Revenue Composition

1. Railway&Industrial Sector: 2.95 billion RMB, a year-on-year decrease of 5.30%.

2. New Energy&Vehicle Sector: 4.97 billion RMB, a year-on-year increase of 49.18%.

3. Other Operating Revenue: 0.60 billion RMB, a year-on-year increase of 69.59%.

Operational Highlights

1. Steady Operations and Continuous Development with a Focus on Long-term Value Creation

   - The company achieved an operating revenue of RMB 8,509.093 million, representing a 25.28% increase compared to the same period last year.

   - In the automotive and energy information sector, the company seized the opportunities arising from the rapid growth of the industry, particularly in the fast-growing electric vehicle and charging industries. The automotive and energy information sector achieved revenue of RMB 4,967.776 million, a year-on-year increase of 49.18%.

   - During the reporting period, the company enhanced market insights, product definition, and development capabilities. The company also increased investment in innovative businesses, contributing new momentum to its development and creating long-term value with a sustainable business philosophy.

2. Continued Investment in R&D to Drive Innovation-led Growth

   - During the reporting period, the company’s R&D investment reached RMB 716.969 million, an increase of 27.49% compared to the same period last year.

   - The R&D team continued to grow, with 764 technical staff members, an increase of 61 people since the beginning of the period, including several high-level core technical talents in the industry.

   - During the reporting period, the company applied for 179 patents, including 109 invention patents. As of June 30, 2024, the company and its subsidiaries have been granted a total of 668 patents, including 119 invention patents.

   - The company led and participated in the formulation of 5 national standards related to connector and harness technology, 2 industry standards, and 17 group standards.

3. Intensified Market Expansion and Active Overseas Market Development

   - During the reporting period, the company adhered to the business philosophy of "customer-centered and maximizing value." It focused on the domestic market, deeply exploring niche sales markets, and developing scientific and flexible marketing service solutions. The company optimized its customer structure, strengthened deep cooperation with core customers, expanded new sales networks, and sought new profit growth points. Meanwhile, the company actively expanded into overseas markets. During the reporting period, it officially established a factory in Thailand, marking a new chapter in its international expansion amid the wave of globalization, allowing it to more efficiently meet global market demands.

Social Responsibility

Yonggui continues to fulfill its social responsibilities by actively protecting the legitimate rights and interests of its employees. It maintains good relationships with suppliers, customers, shareholders, and other relevant stakeholders, creating value for all parties involved. Additionally, the company actively participates in social welfare initiatives and further enhances its social responsibility management system. These efforts drive the long-term sustainable development of the enterprise.

Future Outlook

Looking ahead, Yonggui will continue to uphold the core values of "Heaven rewards diligence; creating shared success." It will focus on employee motivation and value realization, strengthening talent attraction, and improving incentive mechanisms. The company will implement its globalization strategy by actively expanding into overseas markets. It remains committed to research and development innovation as a solid foundation for high-quality growth, increasing R&D investment, and enhancing technological empowerment. By expanding markets and strengthening innovation-driven efforts, the company aims to support steady operations and continuous development, ultimately creating long-term value for the enterprise.