Core Viewpoint - Hualing Cable has achieved significant business expansion, recently winning contracts worth approximately 423 million yuan in the power and rail transit sectors, which represents 10.18% of its audited revenue for 2024 [1][2]. Group 1: Business Expansion and Contracts - The company won multiple projects in the power and rail transit sectors, reflecting market recognition of its product quality and services [1][2]. - Specific contracts include 120 million yuan and 130 million yuan for power cables from Southern Power Grid, and 58.97 million yuan and 114 million yuan for rail transit cables from China Water Resources and Hydropower Fourth Engineering Bureau [2]. - The company anticipates that these contracts will positively impact future operating performance and enhance its influence and competitiveness in these sectors [2]. Group 2: Revenue Growth - In 2024, Hualing Cable's revenue is projected to exceed 4 billion yuan, reaching 4.158 billion yuan, a year-on-year increase of 19.82%, with a net profit of 109 million yuan, up 26.07% [4]. - The revenue from power cables and special cables is expected to be 1.579 billion yuan and 2.136 billion yuan, respectively, with year-on-year growth rates of 26.47% and 18.44% [2][4]. - The proportion of special cables in total revenue has remained above 50% for two consecutive years, at 51.96% in 2023 and 51.37% in 2024 [2]. Group 3: Research and Development - Hualing Cable's R&D expenses reached 134 million yuan in 2024, a 17.03% increase year-on-year, with a five-year cumulative total of 479 million yuan [5]. - The company has made significant advancements in developing flexible cables for deep-sea robots and aluminum alloy wires for aviation, among other projects [5]. - As of the end of 2024, Hualing Cable holds 345 authorized patents, including 54 invention patents, and has undertaken over 50 national and local technology projects [5]. Group 4: Strategic Acquisitions - The company is actively seeking acquisition targets to enhance its upstream and downstream industry chain layout and deepen its business in aerospace and high-end cable sectors [6]. - In March, Hualing Cable announced plans to acquire control of Hunan Xingxin Aerospace Materials Co., Ltd. to accelerate integration in high-end cables and new materials [6].
华菱线缆中标4.23亿电缆项目 特种电缆连续两年营收占超51%