Payne Technology's R&D expenses in 2023 will reach 390 million, with R&D personnel accounting for nearly 40%

In 2023, Payne Technology's R&D expenses reached 390 million yuan, with R&D personnel accounting for nearly 40%. The company has invested a lot of money in the R&D of lithium iron phosphate and energy storage systems, with an average investment of 25 million yuan per project. In addition, the company has a large number of outsourced labor personnel, which is equivalent to about 1,000-3,000 people based on working hours.