德恩精工2024年财报：营收微增2.61%，净利润巨亏1.31亿

Core Insights - The company reported a total revenue of 511 million yuan for 2024, representing a year-on-year growth of 2.61%, but faced a significant net loss of 131 million yuan, a drastic decline of 1509.62% compared to the previous year [1] - The company's main business segments include mechanical transmission, industrial robots, CNC machine tools, and industrial internet platform services, with mechanical transmission being a core area that did not significantly boost overall profit [4] - The financial situation is concerning, with a net cash flow of 45.28 million yuan, down 42.95% year-on-year, and an increase in the debt-to-asset ratio from 43.12% in 2023 to 46.22% in 2024, indicating rising financial pressure [5][6] Business Performance - The mechanical transmission and industrial robot segments are the main drivers of the company's business, but the industrial robot sector has not yet realized its full profit potential due to market fluctuations and insufficient orders [4] - The CNC machine tool business also faces intense competition, which has compressed profit margins despite a rich product line [4] Financial Analysis - The net profit attributable to shareholders was -131 million yuan, a significant increase in losses compared to -8 million yuan in 2023, with a non-recurring net profit of -148 million yuan, down 252.71% year-on-year [5] - The decline in cash flow and rising debt levels indicate increased financial strain on the company, particularly in an uncertain market environment [5][6] Future Outlook - The company anticipates challenges from market volatility, insufficient order volumes, and changes in international trade rules affecting export business [7] - To address these challenges, the company plans to increase R&D investment, optimize product structure, and explore new market opportunities, particularly in the industrial robot and CNC machine tool sectors [7] - Improving internal management and cost control will be crucial for enhancing financial conditions and achieving profitability in the future [7]