60 Million Motors! A Peak Performance Right After IPO, This Motor Company’s Half-Year Revenue Grows by 26.93% Year-on-Year！

According to a report from the Shanghai Securities News on the evening of the 29th, Xingdesheng disclosed its 2024 semi-annual financial report, revealing that the company achieved an operating income of 1.133 billion yuan, marking a year-on-year increase of 26.93%. The net profit attributable to shareholders of the listed company was 95.3374 million yuan, up by 15.15% year-on-year. The report highlights that the company’s high-margin product, brushless DC motors, generated revenue of 365 million yuan, representing a significant year-on-year growth of 42.4%, indicating a continuous optimization of the company’s product mix.

Xingdesheng is primarily engaged in the research, development, production, and sales of micro motors and related products. These products are mainly used in cleaning appliances like vacuum cleaners, high-speed hair dryers, power tools, and garden tools. The company’s annual production capacity for various micro motors exceeds 60 million units. Additionally, Xingdesheng has successfully integrated its battery, motor control businesses, forming a comprehensive “three-electric” system solution centered around motors, battery packs, and motor controllers. Xingdesheng’s stable core customers include brands such as Bissell, Shark, TTI Group, Electrolux, Panasonic, Ecovacs, and Xiaomi.

Micro motors have a wide range of downstream applications, including home appliances, industrial equipment, calculators, automotive, and medical fields. In terms of application distribution, consumer electronics and household appliances are the primary sectors, accounting for 29% and 26% of the downstream market, respectively. Aviation, agriculture, textiles, medical, and packaging sectors account for 20%, automotive electronics for 13%, and imaging processing, industrial control, and others for smaller shares, at 7% and 5%, respectively. Xingdesheng’s micro motors are predominantly used in the vacuum cleaner industry, where the company has established a strong market share and industry position after 20 years of effort. The company has developed unique product and technological advantages in terms of performance, structural design, and functional implementation.