数字化转型对低压电器企业财务绩效的影响研究——以正泰电器为例
Research on the Impact of Digital Transformation on the Financial Performance of Low-Voltage Electrical Equipment Enterprises—Taking Chint Electric as an Example

在全球制造业加速智能化、数字化转型的背景下，低压电器行业面临价值链低端锁定困境。正泰电器作为行业龙头，通过“一云两网”战略推动数字化转型，其路径与成效具有标杆意义。本文通过剖析正泰电器的转型动因、实施路径及财务绩效变化，揭示数字化转型对制造企业价值创造的作用机制。研究发现，数字化转型通过提高生产效率、优化供应链管理直接改善财务指标，更通过数据资产化与服务化转型重构商业模式，推动利润来源从硬件销售向解决方案延伸。财务绩效分析显示，尽管短期偿债能力承压、毛利率有所下降，但营业收入持续增长，研发投入增加，资产周转率和应收账款周转率提升，表明数字化转型对企业长期发展具有积极影响。研究结论有助于我国制造业应对全球产业链重构、为实现“双碳”目标提供启示。
Under the global trend of accelerating intelligent and digital transformation in manufacturing, the low-voltage electrical industry faces low-end value chain lock-in. As an industry leader, Chint Electric has implemented digital transformation through its “One Cloud, Two Networks” strategy, offering exemplary insights. This study examines Chint’s transformation drivers, implementation pathways, and financial performance evolution to reveal digital transformation mechanisms in manufacturing value creation. Findings indicate that digital transformation directly enhances financial metrics through production efficiency and supply chain optimization, while fundamentally reshaping business models via data assetization and service-oriented transition. This strategic shift extends profit sources from hardware sales to integrated solutions. Financial analysis demonstrates sustained revenue growth, increased R&D investment, and improved asset/receivable turnover ratios, despite short-term liquidity pressures and gross margin contraction, indicating the positive long-term impact of digital transformation on corporate development. The research provides implications for Chinese manufacturers in global supply chain restructuring and dual-carbon goal achievement.