Financial report data shows that from

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Huichuan Technology was founded in 2003 and listed on the Growth Enterprise Market in 2010. Inovance's business is divided into four major sectors: general automation, new energy vehicles, smart elevators, and rail transit, among which the new energy vehicle business is currently the fastest growing sector.

Huichuan Technology achieved operating income of 25.397 billion yuan, an increase of 26.22% over the same period last year; and achieved net profit of 3.415 billion yuan, an increase of 2.08% over the same period last year.

During the same period, Huichuan Technology's general automation business achieved sales revenue of approximately RMB 10.9 billion, a year-on-year increase of approximately 4%; the new energy vehicle rich people data business achieved sales revenue of approximately RMB 10.4 billion, a year-on-year increase of approximately 96% ; the revenue share of smart elevators and rail transit businesses was relatively low, and both declined year-on-year.

The spin-off and independent listing of the most promising new energy vehicle business once caused concerns among investors.

Although Huichuan Technology stated in the spin-off listing plan announced on April 23, 2024 that after the spin-off is completed, Huichuan Technology will still be the controlling shareholder of United Power, the financial status and profitability of United Power will still be reflected in the consolidated financial statements of Huichuan Technology. Although the spin-off will result in the dilution of the equity interest in United Power, United Power will further focus on its own business areas, its development and innovation will be further accelerated, and its investment and financing capabilities as well as market competitiveness will be further enhanced, which will help improve the overall profitability of Huichuan Technology.

However, in the four months after the announcement of the spin-off listing plan, the stock price of industrial control giant Huichuan Technology still fell by more than 30%.

It is reported that Huichuan Technology was ranked 42nd on the "2022 Hurun China Top 500" list with a value of 191 billion yuan. As of today's (January 13) afternoon closing, Huichuan Technology's share price fell 2.73% to 58.35 yuan per share, with a market value of approximately 157.1 billion yuan.