Company Overview - Weike Technology specializes in the research, design, manufacturing, and sales of precision injection molds and has expanded into the production and sales of injection parts and health products, becoming a "mold-integration" large-scale production enterprise [2][3] - The company has developed a global operational layout with production bases and marketing service points established in Malaysia, Mexico, the USA, Singapore, and Vietnam since 2019 [3] Technological Innovation - Weike Group holds over 500 patents, including 34 authorized invention patents, and has been recognized as a key backbone enterprise in precision injection molds and a national-level "specialized and innovative" small giant enterprise [3] Product Applications - The company supplies components for robotic joints to global motor companies like Nidec and Kollmorgen, with products made from PET reinforced materials known for their excellent mechanical properties [4] - Collaborations include developing core injection components for AI racing simulators and medical applications, such as plastic human skin for laboratory use [5] Market Growth - In the first three quarters of 2024, revenue growth was notable in the new energy, small home appliances, and outdoor home sectors, with new energy sales rapidly increasing since 2023 [11] - The company aims for a 20% year-on-year increase in net profit for 2025, with a net profit of 177 million yuan reported for the first three quarters of 2024 [11] Financial Position - As of the end of Q3 2024, the company had over 1.4 billion yuan in cash assets, primarily used for low-yield bank investments, while actively seeking suitable acquisition targets in downstream industries [11] Competitive Advantages - The transition from metal to plastic components offers significant advantages, including weight reduction (plastic parts can weigh less than one-fifth of metal parts) and higher processing efficiency [7] - The technical barriers in the robotic motor injection parts sector include mold processing precision and quality control consistency during mass production [8]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [9]. Core Insights - The company focuses on precision injection molding and has diversified its business to include the production and sales of injection-molded parts and health products, establishing a "molding integration" production scale [4]. - The revenue for the first three quarters of 2024 reached 1.339 billion yuan, a year-on-year increase of 45.56%, while the net profit attributable to shareholders was 177 million yuan, up 62.25% year-on-year [4]. - The gross margin for the first three quarters of 2024 was 28.94%, and the net margin was 13.71%, reflecting a stable revenue growth due to a diversified business model [4]. Revenue Growth from New Energy Products - The new energy sector has become a key driver for revenue growth in 2024, with significant sales of injection-molded parts for electric vehicles and other related products [5]. - The company has become a primary supplier for major new energy vehicle brands, including Tesla and NIO, following the acquisition of Yuke Plastic [5]. - In the first half of 2024, revenue from injection-molded products reached 361 million yuan, a 34.20% increase compared to the same period last year [5]. Supply to Global Motor Giants - The company supplies components for robots, including motor parts and gears, to major global manufacturers like Kollmorgen and Nidec [8]. - Nidec is a comprehensive motor manufacturer with over 300 branches worldwide, while Kollmorgen specializes in motion control systems [8]. Earnings Forecast - The projected revenues for 2024, 2025, and 2026 are 1.645 billion yuan, 2.039 billion yuan, and 2.541 billion yuan, respectively, with corresponding EPS of 1.66 yuan, 2.02 yuan, and 2.44 yuan [9]. - The current stock price corresponds to PE ratios of 25.5, 21.1, and 17.4 for the years 2024, 2025, and 2026, respectively [9].

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [9]. Core Insights - The company focuses on precision injection molding and has diversified its business to include the production and sales of injection-molded parts and health products, establishing itself as an integrated manufacturing enterprise [4]. - The revenue for the first three quarters of 2024 reached 1.339 billion yuan, a year-on-year increase of 45.56%, with a net profit of 177 million yuan, up 62.25% year-on-year [4]. - The company has significantly increased its investment in new energy products, which have become a key driver for revenue growth, particularly in supplying components for electric vehicles [5]. - The company has become a primary supplier for major new energy vehicle manufacturers, including Tesla and NIO, following its acquisition of Yuke Plastic [5]. - The company’s injection products generated 361 million yuan in revenue in the first half of 2024, reflecting a 34.20% increase compared to the same period last year [5]. Financial Projections - Revenue projections for 2024, 2025, and 2026 are 1.645 billion yuan, 2.039 billion yuan, and 2.541 billion yuan, respectively, with corresponding EPS of 1.66 yuan, 2.02 yuan, and 2.44 yuan [9]. - The company is expected to maintain a stable revenue growth rate, with a projected growth rate of 22.7% in 2024 and 23.9% in 2025 [11]. - The report anticipates a net profit growth rate of 23.6% in 2024 and 21.1% in 2025 [11].

证券代码：301196 证券简称：唯科科技 公告编号：2025-005 厦门唯科模塑科技股份有限公司 关于 2022 年限制性股票激励计划预留授予部分第一个归属期归属结 果暨股份上市的公告 厦门唯科模塑科技股份有限公司（以下简称"公司"）于 2024 年 12 月 30 日召开第二届董事会第十四次会议、第二届监事会第十三次会议，审议通过《关 于 2022 年限制性股票激励计划预留授予部分第一个归属期归属条件成就的议 案》，董事会认为公司 2022 年限制性股票激励计划预留授予部分第一个归属期 归属条件已经成就，同意按规定为符合条件的 23 名预留授予部分激励对象办理 70,368 股第二类限制性股票归属相关事宜，归属价格为 15.82 元/股。近日，公 司办理了预留授予部分第一个归属期股份登记工作，现将有关事项说明如下： 一、股权激励计划实施情况概要 （一）股权激励计划简介 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、本次归属的限制性股票上市流通日：2025 年 2 月 7 日（星期五） 2、本次归属的激励对象人数：23 人 3、本次归 ...

厦门唯科模塑科技股份有限公司（以下简称"公司"）于 2024 年 4 月 21 日召开第二届董事会第十次会议、第二届监事会第九次会议及 2024 年 5 月 14 日召开 2023 年度股东大会，审议通过了《关于使用部分闲置募集资金进行现金 管理的议案》，同意公司在不影响募投项目建设和募集资金使用的情况下，使用 不超过人民币 9 亿元（含）的闲置募集资金进行现金管理，用于购买安全性高、 流动性好的保本型金融产品或结构性存款等理财产品，使用期限为自公司股东大 会审议通过之日起不超过 12 个月（含），在上述额度及期限内可循环滚动使用。 具体内容详见公司于 2024 年 4 月 23 日在巨潮资讯网（www.cninfo.com.cn）披 露的《关于使用部分闲置募集资金进行现金管理的公告》。现将近期使用部分闲 置募集资金进行现金管理的进展情况公告如下： 一、 新增现金管理的基本情况 | 序 | 委托方 | 受托方 | 产品名称 | | | 类型 | 金额 | | 起息日 | | | 到期日 | | 预期年化 | | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Company Overview - Weike Technology specializes in the research, design, manufacturing, and sales of precision injection molds and has expanded into the production and sales of injection parts and health products [1] - The company has developed into a large-scale "mold integration" production enterprise, serving global Fortune 500 clients [1] - Since its establishment, Weike has focused on precision injection molds while actively extending its industrial chain to downstream products [1] Technological Innovation - Weike holds over 500 patents, including 27 authorized invention patents, and has received multiple honors such as "Key Backbone Enterprise in Precision Injection Molding" and "National High-tech Enterprise" [2] Revenue Growth - In the first three quarters of 2024, the main growth areas were in new energy, small home appliances, and outdoor home products [3] - The new energy sector, which began resource investment in early 2022, saw rapid sales growth in 2023, focusing on components for power batteries and electric vehicles [3] - The small home appliance sector entered a peak season in the second half of 2023, influenced by market trends and external factors [3] - The outdoor home segment experienced growth due to the expansion of North American brand clients [3] Financial Performance - The company's operating cash flow has been 1.1 times its net profit over the past three years, indicating strong profitability [4] - Factors contributing to high profitability include technological leadership, customized small-batch production, and a client base of large, reputable companies [4] Profit Margin Stability - The company's gross margin is relatively stable but may experience a gradual decline due to product structure adjustments and increased domestic market share [5] - Future strategies will focus on acquiring high-tech clients to maintain gross margin levels [5] Material Applications - Weike utilizes PEEK materials in products such as electronic cigarettes and medical sterilization devices, showcasing advanced production techniques [6] Robotics and Smart Products - The company produces components for robotics, including motor parts and gears for educational and automated feeding robots [7] - Collaborations with leading companies in cooling technology have led to the development of smart driving cockpit components [8] Acquisition Strategy - The acquisition of Yuke aimed to enhance customer resources and technical capabilities, transitioning from a secondary to a primary supplier for major clients [9] - Yuke specializes in injection parts for automotive and medical sectors, focusing on high-value technologies [9] Future Goals - Weike aims for a 20% increase in net profit for 2025, with a focus on the automotive sector and high-tech clients [10] - The company has over 1.4 billion yuan in cash assets, which will be used for strategic acquisitions in the automotive and small appliance sectors [11]

Company Overview - Weike Technology specializes in the research, design, manufacturing, and sales of precision injection molds and has expanded into the production and sales of injection parts and health products, serving various industries including automotive and electronics [1][2]. - The company has developed into a large-scale "mold-integration" production enterprise and has established overseas production bases in Germany, Malaysia, Mexico, the USA, Singapore, and Vietnam since 2019 to enhance its global operational layout [2]. Financial Performance - In the first three quarters of 2024, the revenue breakdown by sector is as follows: Fashion Appliances 33%, Automotive 29%, Home 18%, with significant growth in the New Energy, Small Appliances, and Outdoor Home sectors [3][4]. - The company aims for a net profit growth target of 20% for 2025, which aligns with its employee equity incentive plan [16]. Product and Market Strategy - The New Energy sector has seen rapid growth since early 2022, with sales of components for electric vehicle batteries and capacitors increasing significantly in 2023 [5][7]. - The Fashion Appliances sector's growth is attributed to a complete manufacturing platform that reduces costs and accelerates product delivery, with plans to expand into new product categories [9]. Competitive Advantages - Weike Technology holds over 500 patents, including 27 authorized invention patents, and has been recognized as a key enterprise in precision injection molds and a national-level technology center [2]. - The company benefits from a strong customer base, primarily consisting of Fortune 500 companies, which provides a stable revenue stream and favorable payment terms [10][11]. Challenges and Risk Management - The company faces longer payment cycles from domestic New Energy clients but maintains sufficient funds to manage cash flow effectively [8]. - To mitigate risks associated with accounts receivable, the company conducts credit assessments and closely monitors payment progress [8]. International Sales and Production - In the first three quarters of 2024, the company's export ratio is approximately 42%, with actual figures expected to exceed 60% due to certain sales classified as domestic [13]. - The overseas sales distribution is as follows: North America 29%, Europe 30%, and Asia 39% [13]. Future Outlook - The company plans to increase overseas investments to enhance its international competitiveness while maintaining a primary focus on domestic production capacity [17]. - Weike Technology is committed to increasing its dividend payout, with a 67% dividend rate for 2023, and aims to share its growth with investors [16].

Company Overview - Weike Technology specializes in the research, design, manufacturing, and sales of precision injection molds and has expanded into the production and sales of injection parts and health products, becoming a "mold integration" large-scale production enterprise [1] - The company has established overseas production bases in Germany and is expanding its global operations with facilities in Malaysia, Mexico, the USA, Singapore, and Vietnam since 2019 [1] - Weike has over 500 patents, including 27 authorized invention patents, and has been recognized as a key backbone enterprise in precision injection molds in China [2] Financial Performance - The company's gross profit margin is higher than that of its peers due to its technological leadership, customized small-batch production, and a client base that includes many Fortune 500 companies [3] - The gross profit margin is expected to experience a slow decline due to product structure adjustments and increased domestic market share, despite maintaining a relatively high level [4] - The target for net profit growth in 2025 is set at 20% year-on-year, aligning with the employee equity incentive plan [8] Market and Sales - As of the first three quarters of 2024, the company's export sales accounted for approximately 42%, but the actual figure is expected to exceed 60% due to certain sales being misclassified as domestic [8] - Export sales are primarily directed towards North America (29%), Europe (30%), and Asia (39%) [8] Product and Competitive Advantage - The core competitiveness of the fast-growing fashion small home appliance sector lies in the company's integrated manufacturing platform, which includes product design, mold design, mold manufacturing, injection production, and assembly [5] - The company maintains a high level of customer stickiness, particularly in long lifecycle sectors like automotive and medical, where switching costs for clients are significant [6]

证券代码：301196 证券简称：唯科科技 公告编号：2025-002 厦门唯科模塑科技股份有限公司 关于部分首次公开发行前已发行股份上市流通的提示性公告 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。 特别提示： 1、本次解除限售的股份为厦门唯科模塑科技股份有限公司（以下简称"公 司"或"发行人"）部分首次公开发行前已发行股份； 2、本次解除限售股东户数共计 6 户，解除限售股份的数量为 29,950,000 股，占公司总股本的 24.00%，限售期为自公司首次公开发行并上市之日起 36 个 月； 3、本次解除限售的股份上市流通日期为 2025 年 1 月 13 日（星期一，因 2025 年 1 月 11 日为非交易日，故顺延至下一交易日）。 一、首次公开发行前已发行股份概况 中国证监会 2021 年 12 月 1 日核发了《关于同意厦门唯科模塑科技股份有限 公司首次公开发行股票注册的批复》（证监许可[2021]3798 号），同意公司首 次公开发行股票的注册申请。公司首次公开发行人民币普通股（A 股）股票 3,120 万股，并于 2022 年 1 月 11 ...