Group 1 - The core viewpoint of the article highlights that the number of foreign exhibitors at the March 2025 exhibition is significantly higher than in previous years [1] - The company indicates that establishing connections with overseas clients from the exhibition to order placement requires a certain period, emphasizing that it is a long-term accumulation and cultivation process [1] - The company notes that rapid sales formation or explosive growth may not occur during the exhibition period [1]

Financial Performance - In Q1 2025, the company achieved revenue of CNY 654 million, with a net profit attributable to shareholders of CNY 132 million and a net cash flow from operating activities of CNY 140 million [1] - Gross margin was 30.93% and net margin was 20.3%, both remaining relatively stable [1] - Operating expense ratio increased to 11.66%, up by 3.74%, driven by a 68.38% increase in sales expenses and a 46.3% increase in R&D expenses [1] Market Conditions - Domestic market demand is expected to remain under pressure in the first half of 2025, with a potential improvement in the second half due to a lower comparative base [2] - Overseas revenue accounts for approximately one-third of total income, showing an upward trend, particularly in regions along the "Belt and Road" initiative and core developed countries [2] Business Strategy - The company plans to enhance production capacity with new facilities coming online in early 2024, increasing the self-manufacturing rate of key components to 70% [3] - Differentiated competition strategies include balancing price and order configurations, launching new products, and adjusting product structures to meet market demands [3] - The revenue share of mid-to-high-end products is gradually increasing, with specific growth in CNC drills (8.04%) and panel saws (16.55%) [3] Future Capital Expenditure - The company has planned capital expenditures exceeding CNY 100 million over the next two to three years for new construction projects in Foshan, with basic construction already underway [4] Investor Interaction Insights - In Q1 2025, domestic sales accounted for about two-thirds of total revenue, showing a slight decline year-on-year, while overseas sales experienced moderate growth [5] - The company maintains a cautiously optimistic outlook for the market in 2025, noting that competition and evolving demand present opportunities for growth [10]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002833 证券简称：弘亚数控公告编号：2025-019 转债代码：127041 转债简称：弘亚转债 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告是否经审计 □是 R否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 R否 （二） 非经常性损益项目和金额 其他符合非经常性损益定义的损益项目的具体情况 R适用 □不适用 主要是先进制造业进项税加计抵减。 将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 R不适用 公司不存在将《公开发行证券的公司信息披露解释性公告第1号——非经常性 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5][13]. Core Insights - The company's Q1 2025 performance shows a revenue of 654 million RMB, a year-on-year decrease of 5.29%, and a net profit attributable to shareholders of 132 million RMB, down 6.59% year-on-year. However, the decline in revenue and profit has narrowed compared to Q4 2024, where revenue decreased by 16.82% and net profit by 44.42% [2][3]. - The company is expected to benefit from national policies aimed at boosting domestic demand, particularly in the furniture machinery sector, which may lead to a recovery in demand and performance [3]. - The gross margin for Q1 2025 is reported at 30.93%, showing a slight year-on-year increase of 0.09 percentage points and a quarter-on-quarter increase of 0.30 percentage points, indicating improved profitability despite weak industry demand [4]. Summary by Sections Performance Review - In Q1 2025, the company achieved a revenue of 654 million RMB, down 5.29% year-on-year, and a net profit of 132 million RMB, down 6.59% year-on-year. The gross margin was 30.93%, reflecting a minor improvement [2]. Operational Analysis - The decline in revenue and profit has slowed compared to the previous quarter, with government policies expected to stimulate demand in the furniture machinery sector, potentially leading to a recovery [3]. - The company is focusing on expanding its overseas market presence, with a gross margin of 36.70% from international operations, significantly higher than the domestic margin of 29.89% [4]. Profit Forecast and Valuation - Revenue projections for 2025-2027 are 3.008 billion RMB, 3.450 billion RMB, and 3.973 billion RMB, respectively, with net profits expected to be 608 million RMB, 720 million RMB, and 841 million RMB. The corresponding price-to-earnings ratios are projected to be 12, 10, and 8 times [5].

| 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2025-018 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 广州弘亚数控机械股份有限公司 第五届监事会第五次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 经与会监事充分审议，会议以记名投票表决的方式通过了以下议案： 1、 会议以 3 票同意，0 票反对，0 票弃权的表决结果审议通过《关于〈2025 年第一季度报告〉的议案》； 经审核，监事会认为：董事会编制和审核公司《2025 年第一季度报告》的程 序符合法律、行政法规、深圳证券交易所的规定，报告内容真实、准确、完整地 反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 《2025 年第一季度报告》同日登载于巨潮资讯网（http://www.cninfo.com.cn）。 1、广州弘亚数控机械股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日以专人送达形式向各位监事发出了召开第五届监事会第五次会议的通知。 2、召开 ...

| 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2025-017 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 广州弘亚数控机械股份有限公司 第五届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 二、董事会审议情况 经与会董事充分审议，会议以记名投票表决的方式通过了以下议案： 1、会议以 8 票同意，0 票反对，0 票弃权的表决结果审议通过《关于〈2025 年第一季度报告〉的议案》； 1、广州弘亚数控机械股份有限公司（以下简称"公司"）第五届董事会第 七次会议通知于 2025 年 4 月 24 日以专人送达、电子邮件、电话等形式向各位董 事发出。 2、会议于 2025 年 4 月 28 日在公司会议室以现场与通讯表决相结合的方式 召开。 3、董事会会议应出席的董事 8 名，实际出席会议的董事 8 名。 4、本次会议由董事长李茂洪先生召集和主持，公司监事及高级管理人员列 席会议。 5、本次董事会会议的召集、召开和表决程序符合有关法律、行政 ...

Financial Performance - The company's revenue for Q1 2025 was ¥653,990,166.17, a decrease of 5.29% compared to ¥690,498,751.32 in the same period last year[6] - Net profit attributable to shareholders was ¥132,178,608.66, down 6.59% from ¥141,511,065.36 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥107,061,730.31, representing an 18.77% decline from ¥131,801,004.19 in the previous year[6] - Total operating revenue for the period was RMB 653,990,166.17, a decrease of 5.3% compared to RMB 690,498,751.32 in the previous period[18] - The net profit for the current period is 132,741,621.13, a decrease of 7.3% compared to 143,071,193.44 in the previous period[19] - Operating profit for the current period is 153,033,744.06, down from 164,768,522.30, reflecting a decrease of 7.3%[19] - Total comprehensive income for the current period is 133,097,015.64, compared to 142,687,447.81 in the previous period, indicating a decline of 6.5%[20] - The basic earnings per share decreased to 0.31 from 0.33 in the previous period[20] - The total revenue from sales of goods and services was 675,507,240.37, down from 723,837,732.80 in the previous period, reflecting a decrease of 6.7%[21] Asset and Equity Management - The company's total assets increased by 5.05% to ¥4,350,789,760.82 from ¥4,141,528,548.06 at the end of the previous year[6] - The company's equity attributable to shareholders increased to RMB 2,965,703,770.49 from RMB 2,831,249,738.28, reflecting retained earnings and capital growth[17] - Cash and cash equivalents increased to RMB 1,135,631,866.18 from RMB 962,971,745.56, indicating improved liquidity[15] - Cash and cash equivalents at the end of the period totaled 544,135,405.15, down from 1,145,519,255.09 in the previous period[22] Cost and Expense Management - Total operating costs amounted to RMB 534,700,073.02, down from RMB 540,614,650.32, reflecting a cost reduction strategy[18] - Research and development expenses rose by 46.30% to ¥33,372,162.22 compared to ¥22,811,512.86 in the same period last year, indicating increased investment in innovation[9] - Research and development expenses increased to 33,372,162.22, up 46.3% from 22,811,512.86 in the previous period[19] - The company incurred financial expenses of 2,779,142.32, compared to a financial income of -3,170,301.37 in the previous period[19] Cash Flow Analysis - The net cash flow from operating activities was ¥139,588,841.28, a decrease of 3.00% from ¥143,904,874.00 year-on-year[6] - Cash flow from operating activities netted 139,588,841.28, slightly down from 143,904,874.00 in the previous period[21] - The company reported a significant increase in cash inflow from investment activities, totaling 184,831,076.57, compared to 45,927,838.82 in the previous period[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,553[11] - Major shareholder Li Maohong holds 38.98% of the shares, totaling 165,356,249 shares[11] Stock and Inventory Management - Accounts receivable rose to RMB 58,393,278.73 from RMB 53,947,506.68, suggesting a potential increase in sales or credit terms[15] - Inventory levels slightly increased to RMB 432,969,667.04 from RMB 430,295,653.11, indicating stable stock management[16] - Short-term borrowings increased to RMB 180,129,779.06 from RMB 143,507,281.81, reflecting a potential increase in financing needs[17] Fair Value Gains - The company reported a significant increase in fair value gains of 4369.45% to ¥17,332,945.08, primarily due to the appreciation of held stocks[9]

证券简称：弘亚数控 证券代码：002833 转债简称：弘亚转债 转债代码：127041 广州弘亚数控机械股份有限公司 投资者关系活动记录表 编号：20250424 投资者关系活 动类别 特定对象调研 媒体采访 新闻发布会 现场参观 分析师会议 业绩说明会 路演活动 其他 电话会议 参与单位名称 及人员姓名 详见附件 时间 2025 年 4 月 24 日 9:30 地点 公司会议室 上市公司 接待人员姓名 副总经理、董事会秘书 莫晨晓 证券部高级部长 马涵 投资者关系活 动主要内容介 绍 公司副总经理、董事会秘书莫晨晓及证券部高级部长马涵 与投资者交流了公司 2024 年度经营情况，主要内容如下： （一）报告期内公司经营情况 2024 年，面对国内外多变复杂的经济环境，公司始终以市 场需求为主导，以持续创新为驱动，积极应对行业面临的各种 挑战，在变化中寻找可持续发展规律稳健发展。 业绩方面：实现营收 26.94 亿元，同比增长 0.43%；归母 净利润 5.17 亿元，归母扣非净利润 5.05 亿元，经营活动现金 流量净额 5.64 亿元，高于归母净利润。 收入方面：数控钻、裁板锯、自动化产品保持了一定的增 长 ...

业绩简评 2025 年 4 月 23 日，公司发布 2024 年报，24 年公司实现收入 26.94 亿元，同比+0.43%，归母净利润 5.17 亿元，同比-12.31%，扣非 后归母净利润5.05亿元，同比-10.81%；单24Q4公司实现收入5.29 亿元，同比-16.82%，归母净利润 0.62 亿元，同比-44.42%。 经营分析 业绩短期承压，政策拉动内需有望企稳回升。24 年公司实现收入 26.94 亿元，同比+0.43%，其中国内收入为 17.79 亿元，同比 -4.89%。受内需较弱影响，24 年公司归母净利润为 5.17 亿元，同 比-12.31%，利润短期承压。25 年 1 月国家发展改革委发布《关于 2025 年加力扩围实施大规模设备更新和消费品以旧换新政策的通 知》，加大实施设备更新贷款贴息，并加大对个人消费者在开展旧 房装修等过程中购置所用物品补贴力度。家具企业有望借此机会 参与设备更新，在国家政策的支持、消费市场动能拉动下，实现 设备自动化升级，家具机械内需有望筑底回暖。公司作为国内家 具机械头部厂商，业绩有望迎来共振向上。 高毛利的海外业务有望持续带动利润释放。公司积极拓展海外 ...

对于社保基金，本期较上一季度持股减少的社保基金共计1个，即广发基金管理有限公司-社保基金四二 零组合，，持股减少占比达0.10%。本期较上一季未再披露的社保基金共计1个，即全国社保基金四一 三组合。 外资态度来看，本期较上一季度新披露的外资机构有 1 家 ，即香港中央结算有限公司。 公募基金方面，本期较上一期持股增加的公募基金共计1个，即工银专精特新混合A，持股增加占比小 幅上涨。本期较上一季度持股减少的公募基金共计9个，主要包括天弘永利债券A、天弘增强回报A、天 弘永利优佳混合A、广发睿升混合A、光大保德信专精特新混合A等，持股减少占比达1.66%。本期较上 一季度新披露的公募基金共计119个，主要包括信澳新能源产业股票、广发制造业精选混合A、南方中 证1000ETF、信澳智远三年持有期混合A、广发大盘成长混合等。本期较上一季未再披露的公募基金共 计8个，主要包括东方红睿泽三年持有混合A、海富通改革驱动混合、中欧小盘成长混合A、南方通元6 个月持有债券A、南方睿阳稳健添利6个月持有债券A等。 2025年4月24日，弘亚数控(002833.SZ)发布2024年年度报告。截至2025年4月23日，共有138个机 ...