Core Viewpoint - The company demonstrates resilience in maintaining growth in production and sales despite challenges in the downstream industry, particularly in real estate and consumer sectors, by focusing on technological advancements and market expansion [1]. Group 1: Company Performance - In 2024, the company achieved growth in production and sales, reflecting its operational resilience amid industry cycles [1]. - The company reported a decline in net profit in Q4 of the previous year, primarily due to a decrease in domestic orders, while export orders continued to grow [2]. - The company anticipates a positive order situation for Q1 2025, with expected growth in revenue and net profit [2]. Group 2: Strategic Focus - The company aims to deepen its engagement in the "Belt and Road" initiative and explore emerging market potential, while increasing the proportion of mid-to-high-end products [2]. - The company is committed to developing intelligent and automated solutions to meet the needs of furniture enterprises for smart transformation [2]. - The company has established R&D and manufacturing bases in China and Italy, with operations spanning over 70 countries and regions [1]. Group 3: Technological Innovation - The company has developed the "one-person line" intelligent flexible production line, significantly enhancing the efficiency and flexibility of custom furniture production [2]. - The production line integrates various automated equipment, achieving a fully automated process from raw material to finished product [2]. - The company is leveraging industrial robotics in various production stages to reduce labor intensity and improve efficiency [2]. Group 4: Industry Trends - The furniture equipment industry is undergoing a critical transformation, with a strong emphasis on intelligent manufacturing as a key trend [3]. - The company is positioned as a leading player in the furniture equipment sector, focusing on the development of comprehensive intelligent manufacturing solutions [3]. - Increased governmental support and policies favoring intelligent manufacturing provide a conducive environment for industry growth [3].

Group 1: 弘亚数控 - In Q1 2025, domestic sales accounted for approximately two-thirds of total revenue, showing a slight year-on-year decline, while overseas sales experienced a certain degree of growth [1] - The increase in foreign exhibitors at the March exhibition indicates potential for new overseas customer orders, which may require a longer lead time [1] - The company maintains a cautiously optimistic outlook for the market this year, believing that continuous industry growth will provide development space [1] Group 2: 华大智造 - Revenue decline in Q1 2025 was primarily due to seasonal fluctuations and market uncertainties, with expectations for revenue from platform replacement orders in Q2 [2] - Increased competition has led to a decrease in average selling prices of core products, impacting gross margins; the company is implementing measures such as domestic material substitution to improve margins [2] - The company plans to continue cost reduction and efficiency improvement initiatives, with significant reductions in expense ratios expected [2] Group 3: 同兴科技 - The sodium-ion battery cathode materials utilize a poly-anion route, offering advantages such as low cost, low temperature, and high safety, mainly applied in large-scale energy storage and two-wheeled vehicles [3] - The third-generation NFPP has completed pilot-scale experiments, demonstrating high specific capacity and long cycle stability, and has been used in large-scale commercial energy storage projects [3] - The company is optimistic about its carbon capture business and has established a CCUS division to advance multiple projects and technological collaborations [3]

Group 1: Company Performance and Strategy - The company has maintained stable performance despite challenges in the real estate and home decoration industries, primarily through technological advancements and market expansion [2][3]. - The company exports to over 70 countries, with a low revenue share from the U.S. market, indicating a strategic focus on international market development [3]. - The company plans to utilize new production capacity over the next 3-5 years, aiming for growth despite current market constraints [3][4]. Group 2: Financial Metrics and Shareholder Returns - The company has distributed over 1.353 billion CNY in cash dividends since its listing, emphasizing a commitment to shareholder returns [4]. - The company is actively managing its 600 million CNY convertible bonds, ensuring timely repayment and compliance with regulations [4]. - The company reported a 34% share of overseas business, with minimal impact from recent tariff policies [4]. Group 3: Product Development and Market Trends - The new composite drilling and milling center has shown good market acceptance, addressing complex production needs in the custom furniture sector [3][5]. - The company is focusing on smart manufacturing solutions to enhance production efficiency and meet the growing demand for customized products [5][6]. - The furniture equipment industry is undergoing a transformation towards intelligent manufacturing, with the company positioned as a leader in this transition [5][6]. Group 4: Market Outlook and Competitive Position - The overall industry is experiencing revenue contraction and profit pressure, yet the company has managed to increase its market share and maintain relatively good performance [6]. - Future growth will be driven by expanding into emerging markets and increasing the proportion of mid-to-high-end products [5][6]. - The company is committed to continuous innovation and product upgrades to support sustainable industry development [5][6].

弘亚数控：3月展会外国参展商人数明显比往年更多 金十数据5月7日讯，弘亚数控召开电话会议，公司在会上表示，2025年3月展会，外国参展商人数明显 比往年更多，新建立联系的海外客商从参展到下订单需要一定周期，是长期积累和培养的过程，未必能 在展会期间快速形成销售或实现爆发式增长。 ...

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]