Langte Intelligence: Double profit growth in 2022, energy storage product revenue increased by 1.7 times

On April 19, Langte Intelligent released its 2022 full-year results. During the reporting period, Langte Intelligent's performance increased across the board, achieving total revenue of 1.291 billion yuan, a year-on-year increase of 34.51%; net profit attributable to the parent company was 181 million yuan, a year-on-year increase of 28.28%; operating cash flow reached 216 million yuan, a year-on-year increase of 67.14%.

Langte Intelligence is engaged in the business of intelligent controllers and intelligent products. The products are mainly used in smart homes and home appliances, lighting, automotive electronics and new consumer electronics and other industries.

Among them, the smart product business mainly includes smart homes, new consumer electronics and energy storage products. It is worth noting that during the reporting period, Langte Intelligence redefined the company's previous "off-grid lighting products" as "energy storage products."

Langte Intelligent said that the performance growth during the reporting period was mainly due to the rapid development of new energy vehicles and energy storage industries. The company expanded the sales of products used in energy storage and automotive electronics fields, and sales revenue grew steadily; in addition, the company actively carried out cost reduction and efficiency improvement work, and profitability increased.

In terms of energy storage products, due to the continuous expansion of downstream customers in the African market, Langte Intelligence achieved revenue of 690 million yuan in 2022, a year-on-year increase of 171.32%, and its proportion of total revenue increased from 26.49% in 2021 to 53.44%, becoming the company's largest revenue source.

In terms of automotive electronics, Langte Intelligent achieved revenue of 119 million yuan, a year-on-year increase of 60.15%, and its proportion of total revenue increased to 9.19%. It is reported that Langte Intelligence has been in the field of automotive electronic controllers for many years, with a wide range of products covering many key areas of automotive electronics.

In 2023, Langte Intelligence will continue to focus on intelligent controllers and intelligent products, and delve deeply into the fields of energy storage and automotive electronics. Since the company's products are mainly sold to overseas markets such as Asia, Africa, and North America, and its sales customers are concentrated, in the future, Langte Intelligence will actively explore emerging markets such as Asia, Africa and Latin America, and continue to develop new customers and new business sectors.