常熟市天银机电股份有限公司2024年年度报告摘要

Core Viewpoint - The company has reported a strong performance in the refrigerator compressor parts business, driven by favorable industry trends and its own technological advancements [12][15]. Company Overview - The company specializes in the production of refrigerator compressor components, including energy-saving starters and noise-reducing devices, and is recognized as a leading manufacturer in this sector [5][6][15]. Business Model - The company employs a sales-driven production model, ensuring quality control through a structured procurement and production process [9][10][11]. Industry Factors - The home appliance industry in China is experiencing robust growth, with refrigerator production increasing by 8.3% year-on-year in 2024, supported by government policies promoting appliance upgrades [12][13]. - The demand for refrigerator compressors is also rising, with domestic sales of sealed piston compressors reaching 140 million units, a 13.3% increase year-on-year [13]. - The export market for refrigerator compressors is expanding, with a 20.1% increase in export volume, reaching 75 million units in 2024 [14]. Company Strengths - The company is a pioneer in technology, having developed energy-saving electronic starters and a leading variable frequency control system for refrigerators, which enhances its competitive edge [15][20]. - The company has established strong relationships with major downstream clients, contributing to its market share and brand recognition [15][20].