HAGG(SH:601177) Zheng Quan Ri Bao Wang·2025-04-17 12:46Core Viewpoint - Hangzhou Advance Gearbox Group Co., Ltd. (referred to as "Hangzhou Advance") reported a revenue of 2.301 billion yuan for 2024, marking a year-on-year increase of 22.22%, and a net profit attributable to shareholders of 241 million yuan, up 13.88% year-on-year [1] Group 1: Business Performance - The company focuses on gear transmission device R&D and manufacturing, with products widely used in shipbuilding, wind power, and construction machinery sectors [1] - The core traditional business, marine gearboxes, generated revenue of 1.095 billion yuan in 2024, a decline of 4.22% year-on-year, yet the company continues to optimize product structure and upgrade technology [1] - Revenue from wind power products reached 1.177 billion yuan, showing a significant growth of 91.18% year-on-year, driven by the acceleration of large megawatt wind power market trends [2] - The engineering machinery segment achieved revenue of 354 million yuan, reflecting an 8.71% year-on-year increase, with new products like integrated excavators and telescopic forklifts being introduced [3] Group 2: Strategic Focus - The company is committed to a dual-driven strategy of "solid foundation + extended boundaries," enhancing its traditional advantages while expanding into high-end equipment and new energy applications [1] - In the wind power sector, the company is optimizing business collaboration with main engine manufacturers, leading to significant sales growth of gearboxes for 6.X megawatt and above models [2] - Continuous R&D investment is emphasized as a key to enhancing core competitiveness, allowing the company to meet market demands for high-end gear transmission devices [3]