The scale of the new energy vehicle business has increased rapidly, and the revenue of Juyi Technology in the first three quarters has exceeded 2.1 billion yuan

Our reporter Xu Yiming

On the evening of October 28, Juyi Technology released its third-quarter 2022 performance report. In the first three quarters, the company achieved revenue of 2.166 billion yuan, a year-on-year increase of 53.95%; net profit attributable to the parent reached 97.1811 million yuan, a year-on-year decrease of 30.23%.

Juyi Technology said that the business scale of electric control parts for new energy vehicles has increased rapidly, and the company’s income structure has changed. At the same time, due to the epidemic, the cost of project implementation has increased, and the price of raw materials has increased. The continuous R&D investment has increased R&D expenses. The introduction of talents and the upgrading of digital management have increased management expenses and affected the overall net profit of the company’s products.

According to public information, as a mainstream supplier of intelligent equipment in advanced manufacturing fields such as automobiles and electric control components for electric motors of new energy vehicles, it is committed to building the company into an international leader in the industry around the intelligence, electrification and networking of the automotive industry. A competitive industry leader, Juyi Technology’s products mainly include intelligent equipment and electric control components for electric motors of new energy vehicles.

In terms of competitive advantages, the company said in a centralized survey conducted by institutions in July this year that the first is its outstanding innovation capability. The company continues to improve its technology and product advantages, and firmly grasps the development trend of automobile and parts products and manufacturing technology; secondly It is the advantage of rich and high-quality industry and customer resources; the third is the dual-wheel drive advantage of intelligent equipment and new energy vehicle motor electronic control business; the fourth is the location advantage brought by the industrial development of the Yangtze River Delta and Anhui Hefei.

According to reporters, or benefiting from the gradual emergence of competitive advantages, Juyi Technology has frequently reported good news since October. On October 21, the company stated on the interactive trading platform that it has cooperated with NIO in the fields of intelligent equipment and electric motor control of new energy vehicles. In the field of motor and electronic control, it also cooperates with NIO in technical product development, parts manufacturing and assembly matching. On the same day, Juyi Technology stated on the interactive trading platform that the company has successfully developed a hydrogen fuel cell intelligent assembly and testing production line, and has undertaken orders from some customers, which have been recognized by customers. In addition, on October 14, Juyi Technology stated on the interactive trading platform that Dongfeng Lantu Automobile was equipped with the company’s motor controller products.

Guosheng Securities Research Report pointed out that in the medium and long term, new energy vehicle companies are expected to open more third-party supply to meet the rapidly growing demand for production capacity. Juyi Technology is an enterprise with R&D, production and equipment manufacturing capabilities of electric drive products. It has obvious advantages in cost and technology synergy. It is expected to continuously improve its market position in the competition and seize more market shares.

(Edited by He Fan and Bai Baoyu)