Shenzhen Inovance Technology Co., Ltd. (stock code: SZ.300124) was founded in 2003. Inovance has a market capitalization of about RMB 160 billion and was ranked 42 on the 2022 Hurun China 100. Inovance is the key force in developing industrial automation and drive technology in China and a provider of optical-mechatronics-hydraulic-pneumatic integrated solutions covering drive, control, motor, and precision machineries. Headquartered in Shenzhen, Inovance has established multiple production bases in Suzhou, Changzhou, Yueyang, and Nanjing, as well as resident offices and service centers in over 30 countries and regions worldwide. In 2023, Inovance achieved an annual revenue of RMB 30.42 billion and an operating profit of RMB 4.742 billion, which grew by 32% and 10% respectively on a YoY basis. Inovance has more than 20,000 employees, among which 5482 employees are R&D personnel. In 2023, the total R&D investment reached RMB 2.624 billion. By the end of the reporting period, Inovance has acquired 3297 patents and software copyrights. Through continuous investment in R&D, Inovance has enhanced its technical strength in such fields as motor and drive control, industrial control software, electric drive assembly for new energy vehicles, digitalization, and industrial robots.