MagnTek's revenue in 2023 will reach 300 million yuan

The continuous development of Si Rui Technology is largely due to its determination to invest in R&D. In 2017 and 2018, Si Rui Technology's R&D investment exceeded 100 million yuan, accounting for more than 100% of its main business income. Magntron's revenue in 2023 increased year-on-year, but its net profit declined. Its operating income in 2022 and 2023 was 269 million yuan and 300 million yuan respectively, and its net profit was 28.5934 million yuan and 18.8383 million yuan respectively, a year-on-year decline of 34.11%.