Amsky(SZ:300521)2025-04-28 15:15Financial Performance - The company's 2024 operating revenue reached CNY 190.02 million, a year-on-year increase of 19.27% from CNY 159.33 million, primarily driven by advancements in 3D printing technology and a sales increase of approximately CNY 25 million in 3D printing equipment [3]. - The net profit attributable to shareholders was a loss of CNY 3.04 million, an improvement from a loss of CNY 6.04 million in the previous year; the net profit excluding non-recurring gains and losses was a loss of CNY 2.60 million, compared to a loss of CNY 6.70 million last year [3]. - The net profit attributable to shareholders for 2024 was -¥3,035,366.94, an improvement of 49.71% from -¥6,035,786.14 in 2023 [32]. - The net cash flow from operating activities for 2024 was -¥12,320,544.23, a significant decline of 363.89% compared to ¥4,668,860.72 in 2023 [32]. - The basic earnings per share for 2024 improved to -¥0.0211, a 49.64% increase from -¥0.0419 in 2023 [32]. - The total assets at the end of 2024 were ¥589,655,378.82, a slight increase of 1.02% from ¥583,725,647.89 at the end of 2023 [32]. - The net assets attributable to shareholders decreased by 1.24% to ¥489,165,691.99 at the end of 2024 from ¥495,324,382.77 at the end of 2023 [32]. - The company reported a quarterly revenue of ¥67,762,143.86 in Q4 2024, which was the highest among the four quarters [34]. - The net profit attributable to shareholders in Q4 2024 was ¥6,570,345.81, marking a significant turnaround from losses in previous quarters [34]. - The company reported a net profit of -430,552.27 yuan for the current period, a significant decrease from the previous year's profit of 659,999.94 yuan, indicating a decline of approximately 165.3% [38]. - The government subsidies recognized in the current period amounted to 1,896,531.10 yuan, slightly lower than the 2,042,346.57 yuan received in the previous year, reflecting a decrease of about 7.2% [38]. - The company reported a revenue of 190.02 million yuan, an increase of 19.27% compared to the same period last year [84]. - The net profit after deducting non-recurring gains and losses was -2.60 million yuan, an increase of 61.10% year-on-year [84]. - The gross profit margin for the specialized equipment manufacturing industry was 36.33%, a decrease of 1.57% from the previous year [108]. - The company’s annual maintenance revenue decreased by 3.43%, totaling ¥7,197,679.68, down from ¥7,453,005.18 in 2023 [107]. - Financial expenses improved by 16.38%, resulting in a net financial income of -¥3,814,786.47 [118]. - Management expenses rose by 11.33% year-over-year to ¥26,482,007.63, reflecting increased operational costs [118]. Product Development and Sales - Sales of 3D printing equipment increased by approximately 90% in 2024, with the Storm S1800 model entering mass production and sales, targeting small and medium-sized foundries [7]. - The company has developed the BTHS2515 model 3D sand printing equipment, with over ten new orders received, aimed at automating future factories [8]. - The Naja256 laser head was launched, integrating advanced technologies to enhance performance, with new models developed for higher efficiency and quality [6]. - The company has completed the development of the T400 and T600 ceramic printing devices, with over 20 units sold in domestic and international markets [12]. - The company has successfully launched the S1800 model of the 3D sand printing equipment, which is suitable for small and medium-sized foundries [86]. - The upgraded T1812 model of the 3D sand printing equipment is designed for large foundries, offering a cost-effective and automated production line [87]. - The BTHS2515 model of the 3D sand printing equipment has been officially sold, with over ten new orders received [87]. - The company has developed a new 4835 inch series equipment and a 4000dpi device to meet international market demands [85]. - The company has completed the mass production and sales of 3D sand printing equipment, providing production supplies for related industries [86]. - The company is focusing on digital transformation and automation in the traditional gravity casting industry through 3D sand printing technology [52]. - The company has achieved 100% localization of its 3D sand mold printing equipment with the stable mass production of 512 nozzles, and has begun external sales of these nozzles [91]. - The company has completed the testing and optimization of multi-laser metal printing heads, enabling 100% localization of 3D metal printing equipment, significantly improving printing efficiency and reducing production costs [90][97]. - The company is actively expanding its 3D printing applications, including metal and ceramic powder printing, and plans to accelerate the development of specialized nozzles for various industries [93]. - The newly launched BTHS2515 and T2515 3D printers have a forming precision of ±0.3mm and a single-layer forming speed of approximately 16 seconds, showcasing the company's technological advancements [96]. - The company is developing multiple new 3D sand printing machines, including the S2000, S801, S1800, T2500, T2515, and T18 series, with expected annual sales growth of 20% [119]. - The S2000 model aims for a build size of 20001000800 mm and a build speed of 127L/h, enhancing the company's competitive edge in the 3D printing market [119]. - The T2515 model features a maximum print size of 250015001000 mm and aims to improve efficiency with a layer time of 16.5 seconds [119]. - The T400 ceramic printer aims for a printing speed of 35 seconds per layer and a physical resolution of 400400 dpi, with a total power consumption of 1000W [121]. - The T600 ceramic printer is designed for industrial-grade small size applications, targeting high precision with a tolerance of ±0.2mm [121]. Market Trends and Industry Outlook - The global 3D printing market is projected to grow from $20.035 billion in 2023 to $29.8 billion by 2025, indicating a compound annual growth rate (CAGR) of approximately 30.5% [44]. - China's 3D printing market is expected to expand from 40 billion yuan in 2023 to 100 billion yuan by 2027, representing a growth rate of 150% over the period [46]. - The demand for metal 3D printing is rapidly increasing, particularly in sectors such as aerospace and automotive, with SmarTech estimating that the technology will produce over $75 billion in components annually by 2031 [47]. - The company has enhanced its CTP products with higher precision and efficiency, leveraging advanced technologies such as the 256-channel laser technology for high-end CTP production [41]. - The government has prioritized the development of "new quality productivity" in 2024, which is expected to accelerate the growth of the 3D printing industry through supportive macro policies [46]. - The industrial 3D printing market is expected to expand as the technology matures and its applications grow across various sectors [151]. Research and Development - The company has a strong talent pool with expertise in optical, precision manufacturing, electronic circuits, automatic control, and software development, ensuring a robust R&D team [99]. - The R&D team has achieved significant breakthroughs, including the development of new printing heads and a modular design for 3D sand mold equipment, contributing to sales growth in the 3D division [99]. - As of December 2024, the company has obtained multiple patents for innovations in 3D printing technology, enhancing its competitive edge in the market [100]. - The total R&D investment for 2024 was 25,470,622.56 yuan, accounting for 13.40% of operating revenue, down from 16.48% in 2023 [130]. - The number of R&D personnel increased to 93, a rise of 3.33% from 90 in 2023, while the proportion of R&D personnel decreased to 34.19% [130]. - The company is developing a battery coating printer and a PI film processing system, which are expected to enhance market competitiveness and meet high-performance material processing demands [129]. - The company has achieved a product series of 512 and 1024 print heads, and plans to accelerate the application process of various print head products, targeting industries such as displays and circuit boards [153]. - The company plans to accelerate the application of 3D printing technology in the ceramic art industry, aiming to expand its market presence [155]. Governance and Management - The company has established a robust governance structure to enhance decision-making and risk management, ensuring compliance with relevant laws and regulations [94]. - The company has implemented a rapid service system with a professional service team, ensuring efficient pre-sales, in-sales, and after-sales support [104]. - The company emphasizes the importance of governance and compliance through its structured board and supervisory committee [184]. - The company has established an independent organizational structure and operates without interference from controlling shareholders [177]. - The company has a fully independent R&D, procurement, production, and sales system, ensuring no reliance on shareholders for business operations [178]. - The company has a diverse management team with various roles across different subsidiaries and organizations [194]. - The company has maintained stability in its leadership, with no significant changes in management roles during the reporting period [183]. - The company emphasizes information disclosure and investor relations management, ensuring accurate and timely information release [171]. Risks and Challenges - The company is focusing on risk management related to accounts receivable, which has increased due to the industry environment and installment payment methods [159]. - The company faces risks from new product development, with potential delays in achieving mass production and economic benefits [158]. - The company is exposed to foreign exchange risks due to its overseas business primarily being settled in USD, which could impact pricing competitiveness and lead to exchange losses [160]. - The company is committed to improving its accounts receivable management to minimize bad debt risks as its business continues to grow [159]. Shareholder Engagement - The company held its first temporary shareholders' meeting in 2024 with a participation rate of 10.98% [179]. - The company held its annual shareholders' meeting in 2023 with a participation rate of 26.93% [179]. - The company held its second temporary shareholders' meeting in 2024 with a participation rate of 27.07% [179]. - The company held its third temporary shareholders' meeting in 2024 with a participation rate of 27.44% [179]. - The company has a total of 36,973,996 shares held by directors and supervisors, with no changes in shareholding during the reporting period [181]. - The company appointed Chen Xiangke as the employee representative supervisor on December 27, 2024, following the departure of Cai Lijun due to term expiration [182]. - The current board consists of 7 members, including 3 independent directors, all elected by the shareholders [184]. - The company’s management team includes experienced professionals with backgrounds in engineering, finance, and law, enhancing its operational capabilities [185][186].