Kinco Automation( Shanghai) (SH:688160) Shang Hai Zheng Quan Bao·2025-04-25 01:29Core Viewpoint - The company, Buke Co., Ltd., focuses on industrial automation and robotics, emphasizing innovation and R&D to provide high-quality, cost-effective solutions in the context of increasing demand for automation and digitalization in various industries. Group 1: Company Overview - Buke Co., Ltd. is a high-tech enterprise engaged in the R&D, production, and sales of core components for industrial automation and robotics, as well as digital factory solutions [5][20]. - The company has established a complete product line with independent intellectual property rights, covering various automation and digitalization technologies [5][24]. Group 2: Financial Performance - For the reporting period, the company achieved operating revenue of 547.47 million yuan, a year-on-year increase of 8.09%, while the net profit attributable to shareholders decreased by 19.43% to 48.89 million yuan [32]. - The total assets as of December 31, 2024, were 1.02 billion yuan, reflecting a growth of 7.55% compared to the beginning of the period [32]. Group 3: Business Model - The company employs a combination of inventory production and order-based production, adjusting production plans based on sales forecasts and actual sales [13][14]. - The sales strategy includes both direct sales to key clients and distribution through a network of dealers [15]. Group 4: Industry Position and Trends - Buke Co., Ltd. is recognized as a leading player in the domestic industrial automation control industry, with a market share of 3% in the human-machine interface (HMI) market, ranking fourth among domestic brands [24]. - The company is the largest manufacturer in the domestic DC servo market, with a market share of 13% in 2022, and it continues to expand its presence in the mobile robotics sector [25]. Group 5: R&D and Innovation - The company maintains a dual approach to R&D, focusing on both forward-looking technology development and demand-driven product innovation [16][17]. - R&D investment for the reporting period was 16.72 million yuan, accounting for 12.67% of operating revenue, indicating a commitment to innovation [52]. Group 6: Industry Growth and Future Outlook - The global industrial automation equipment market is projected to grow from 213.49 billion USD in 2022 to 412.8 billion USD by 2030, with a compound annual growth rate of approximately 8.59% [29]. - The Chinese industrial automation market is expected to exceed 890 billion yuan by 2029, with a compound annual growth rate of about 7.7% from 2024 to 2029 [30].