H&T's revenue for the first quarter was $1.27 billion, up 73% year-on-year

During the first quarter of 2021, the company had good operation and abundant orders, and continued to achieve growth in both revenue and profit by continuously strengthening internal management and enhancing operational management efficiency. During this period, the company achieved operating revenue of RMB 1.27 billiion, a year-on-year increase of 73.16%, and net profit attributable to the parent company of RMB 107.96 million, a year-on-year increase of 74.59%.

The growth of the company's business is mainly due to the product upgrade in intelligence level of traditional intelligent controllers and the industrial transfer of the electronics industry.  The market space of our industry has further grown and we enhanced our market share through our comparative advantage in the market. The company has responded to the price increase of upstream electronic components and the problem of tight supply by setting up safety stock of raw materials, advance stocking, price conduction, R&D design optimization, raw material substitution and a series of measures to ensure the stable improvement of the company's gross margin level.

The company continues to invest in R&D to enhance its technological barriers. In the first quarter of 2021, R&D investment expenses reached RMB 58.77 million, up 65.62% year-on-year.

The company will continue to cultivate the intelligent controller industry segments, give full play to the company's strategic advantage of "four lines of business", further enhance the company's industry position, to protect the company's sustainable and stable development.