kxjd(SZ:300092) Zheng Quan Shi Bao Wang·2025-04-22 15:01Core Insights - In 2024, Kexin Electromechanical (300092) achieved revenue of 1.216 billion yuan, a year-on-year decrease of 18.79%, while net profit reached 169 million yuan, an increase of 3.54%, marking the highest profit level since its listing in 2010 [1] Financial Performance - The decline in revenue was offset by an increase in net profit due to several factors, including a rise in the technical added value of products, with a gross margin of 27.66%, up 4.4 percentage points year-on-year [2] - The company implemented lean management practices to enhance output capacity and reduce costs [2] Product Development and R&D - Kexin Electromechanical made significant progress in marketing, production control, technology research and development, and internal control management [3] - Key products such as urea components achieved volume breakthroughs, and the company secured orders for specialized products like waste boilers and steam generators [3] - The company completed the development of several core technologies and filed for multiple patents, receiving nine authorized patents [3] Management and Industry Outlook - The company undertook 189 special lean improvement projects and advanced information technology initiatives to enhance work efficiency [4] - Kexin Electromechanical believes the era of "low price supremacy" is ending, with smaller companies facing increased survival challenges, while strong companies with advanced technology and good market positions will thrive [4] - The company emphasized its role as a key provider of high-end pressure vessel equipment, with a low current price-to-earnings ratio and ample cash flow, expressing confidence in its long-term value [4]