2024 VEICHI Annual Report

OPERATING INCOME

• Total operating revenue: CNY1,640.17 million, 25.70% YoY growth
• Net profit attributable to parent company: CNY245.03 million, 28.42% YoY growth

TOTAL ASSETS

• Total assets in 2024: CNY3,073.97 million, 20.82% YoY growth
• Net assets attributable to shareholders of the listed company: CNY2,092.5 million, 8.43% YoY growth

CORE REVENUE

1. AC Drives: CNY1,035.05 million, 27.18% YoY growth

Implement the “Comprehensive Product Portfolio with Full Industry Coverage” strategy, delivering a product matrix covering high/medium/low voltage and single/multi-drive systems.

2. Servo and Control Systems: CNY495.35 million, 17.09% YoY growth

Fully implement the "Extensive Market Penetration" strategy, achieving comprehensive power range coverage with configurations including single-drive and multi-drive solutions.Advance the " Efficient Coordination & Complete Portfolio" strategy, completing full-series deployments of small/medium-sized PLCs and remote I/O products, continuously enhancing overall competitiveness.

3. Digital Energy: CNY60.53 million

Execute the "Diversified Smart Energy Ecosystem" strategy, delivering solutions spanning residential/industrial & commercial energy storage inverters, lithium battery testing and charging/discharging equipment, and smart energy systems for telecom base stations and data centers.

Overseas: CNY455.61 million, 45.23% YoY growth, 28.41% of core revenue

R&D INNOVATION

• 13.25% of operating revenue
• R&D investment in 2024, CNY217.34 million, 32.71% YoY growth
• R&D personnel: 35.76% of total workforce
• Number of R&D personnel: 623

As of December 31, 2024:

• 214 authorized patents
• 56 invention patents
• 130 authorized software copyrights

PROJECT CONSTRUCTION

1. Structural work of Phase III Smart Manufacturing Factory & Digital Transformation Project was completed

2. Changzhou High-End Electrical Equipment Production Base is under construction

SHAREHOLDER RETURNS

• 2020~2024 Cumulative Dividends: CNY187.4287 million
• 2024 Dividends & Share Repurchases: CNY106.7707 million, 81.36% YoY growth
• (Dividends: CNY86.76 million/Share Repurchases: CNY20.01 million)

HONORS&CERTIFICATIONS

• 2023 New Quality Enterprise Golden Bull Award
• 2023 Gazelle Enterprise in South Jiangsu National Independent Innovation Demonstration Zone
• CMCD 2024 Most Competitive Brand in Motion Control
• 2025 Top 50 China Automation & Digitalization Brands
• Suzhou Leading Enterprise in Embodied Intelligent Robotics