News summary

Luyuan Group Holdings 'performance in 2023 is outstandingoraclenftgame, revenue and gross profit increased. Lvyuan relies on key technological advantagesoraclenftgame, gained growth momentum in the global electric two-wheeled vehicle market competition, and its gross profit increased to 6.oraclenftgame.81 billion yuan, an increase of 21oraclenftgame.4%。The company announced that it will continue to deepen technological innovation and product structure optimization in 2024 to meet the needs of domestic and overseas markets.

Newsletter text

Luyuan Group Holdings stands out in the fierce global electric two-wheeled vehicle market. With its independent research and development capabilities and strategic focus on key technologies, it has achieved significant growth in revenue and gross profit.

[Outstanding financial report in 2023] Luyuan's operating income exceeded 5.083 billion yuan for the first time in 2023, and its gross profit reached 681 million yuan, a year-on-year increase of 21.4%. The continued expansion of sales scale and optimization of product structure have steadily increased the gross profit margin from 11.7% in 2022 to 13.4% in 2023. The company's investment in R & D has increased significantly, with a year-on-year increase of 25.8%, and has accumulated nearly 500 patents.

Ni Jie, Chairman and Executive Director of Luyuan Group, said at the performance meeting that the company will deepen its strategic layout in 2024, increase investment in technological innovation, and optimize its product structure to adapt to the diversified needs of domestic and overseas markets. Faced with industry uncertainty, Luyuan will adhere to the goals of stable growth and sustainable development.

Ni Boyuan, vice president of Luyuan Group, emphasized that the company will allow users to experience the research and development results of key technologies in 2024, including digital battery technology and liquid cooling technology, forming different product matrices of high, medium and low levels to meet the needs of different consumers.

In 2023, Luyuan's offline distribution network has extensively covered 324 cities in China, and steadily advanced the global market layout to 46 countries and regions. According to the plan, in 2024, the company will use its core technological advantages to promote medium and high-speed electric motorcycles to the international market, and implement localization strategies in key overseas markets such as Indonesia, Thailand, Malaysia, and India.

Hu Jihong, executive director and CEO of the company, said that Luyuan Group will seize the opportunity of growth in the global electric vehicle market, expand production capacity, and deepen domestic and foreign market share.