Yuhuan CNC Machine Tool (SZ:002903) Cai Fu Zai Xian·2025-04-10 03:36Core Viewpoint - Yuhuan CNC achieved a record high annual revenue of 472.54 million yuan in 2024, reflecting strong operational capabilities and growth momentum despite a challenging external environment [1] Group 1: Financial Performance - The company reported a year-on-year revenue growth of 12.41% [1] - A cash dividend of 0.80 yuan per 10 shares will be distributed to shareholders, enhancing investor confidence [1] Group 2: Product and Market Development - Yuhuan CNC is expanding its product matrix and optimizing its business layout by focusing on high-end CNC grinding machines and tapping into the market opportunities presented by the transformation of China's manufacturing industry [2] - The company acquired Southern Machine Tool, adding CNC lathe products to its portfolio, which enhances horizontal product line expansion and vertical market synergy [2] - Revenue from the consumer electronics sector reached 203 million yuan, while revenue from the automotive parts sector grew by 131.52% to 91.46 million yuan [2] - The energy and power sector contributed 92.13 million yuan, marking a 910.20% increase, and revenue from intelligent equipment series products grew by 186.50% to 106 million yuan [2] Group 3: Strategic Positioning - Yuhuan CNC is strategically positioning itself to replace imports in high-end vertical grinding machines, particularly in aerospace and bearing sectors, which has led to increased orders and enhanced market competitiveness [3] - The company’s balanced development across various business segments improves its ability to respond to cyclical fluctuations in downstream industries [3] Group 4: Research and Development - The company invested 49.46 million yuan in R&D, accounting for 10.47% of its revenue, with a year-on-year increase of 19.43% [4] - Yuhuan CNC focuses on overcoming key challenges in the CNC machine tool industry by developing critical components and equipment for downstream clients [4] - Six new products passed provincial-level certification, with four achieving international advanced technology levels [4] Group 5: Future Outlook - The company aims to continue focusing on high-end CNC grinding machines and expand into new markets, including India, Malaysia, and Indonesia, to enhance international competitiveness and brand reputation [6] - Yuhuan CNC plans to establish a leading R&D platform for CNC grinding machines in Changsha, improving technology transfer efficiency and market responsiveness [6] - The company will maintain its commitment to high-quality development by responding to technological demands from emerging sectors such as new energy vehicles, aerospace, and semiconductors [5]