On June 19th, Autowell announced that based on the preliminary calculation of the company's finance department, it is expected to achieve revenue of 3.999 billion yuan to 4.451 billion yuan in the first half of 2024, a year-on-year increase of 58.84% to 76.80%; net income attributable to the mother is expected to achieve 692 million yuan to 772 million yuan, a year-on-year increase of 32.53% to 47.82%. In the first half of 2023, Autowell achieved a revenue of 2.517 billion yuan and a net income attributable to the mother of 523 million yuan.

According to the above data, Autowell's revenue in the second quarter of 2024 is expected to be between 2.035 billion yuan and 2.487 billion yuan, exceeding the revenue of 1.964 billion yuan in the first quarter of 2024, and the revenue of 1.478 billion yuan in the second quarter of 2023.

The net income attributable to the mother of Autowell in the second quarter of 2024 is expected to be between 359 million yuan and 439 million yuan, exceeding the net income attributable to the mother of 333 million yuan in the first quarter of 2024, and the net income attributable to the mother of 301 million yuan in the second quarter of 2023.

Autowell's main business is the research and development, production, and sales of high-end equipment, which is mainly used in the photovoltaic industry, lithium battery industry, and the semiconductor industry's sealing and testing links. In 2023, Autowell added its overseas market layout and established wholly-owned subsidiaries in Japan and Singapore, and will develop research and trading businesses overseas.

A reporter from the Star newspaper called Autowell today (June 20) as an investor. The person in charge of the company's securities department said, "Currently, the company is only making preliminary calculations, but the company has accelerated its expansion into overseas markets in recent years. The situation of overseas markets this year is more optimistic than the same period last year." In 2023, Autowell's overseas revenue was 997.8 million yuan, accounting for 15.83% of the total revenue, with a gross margin as high as 46.99%.

Some industry insiders believe that as a photovoltaic equipment manufacturer that sells shovels, its revenue has increased significantly in recent years. However, if there is an oversupply of industry supply and the price competition is too fierce, downstream manufacturers may reduce their expansion plans, and the demand for photovoltaic equipment will also be affected. From the perspective of digesting production capacity, actively expanding overseas markets and finding new growth opportunities is not only necessary for photovoltaic companies but also for equipment manufacturers.

The 2023 report showed that photovoltaic equipment revenue accounted for 85.11% of the company's total revenue, which is Autowell's largest revenue product. Among the background of oversupply of photovoltaic industry capacity, as the leading upstream equipment manufacturer in the photovoltaic industry chain, Autowell has benefited from the increasing global photovoltaic industry installed capacity and the favorable impact of industrial technology transformation.

The company's performance has shown a continuous growth trend from early 2022 to the end of 2023. Revenue increased from 625 million yuan in the first quarter of 2022 to 2.063 billion yuan in the fourth quarter of 2023, an increase of up to 230%; during the same period, the net income attributable to the mother of the company increased from 107 million yuan to 404 million yuan, an increase of up to 277%. Compared with the fourth quarter of 2023, the company's performance in the first quarter of 2024 has declined slightly. Revenue declined by 99 million yuan, and net income attributable to the mother declined by 72 million yuan.