North Industries (SZ:000519) Xin Lang Cai Jing·2025-04-25 02:37Core Viewpoint - The company reported a significant decline in revenue and profit for 2024, indicating that it is currently at a historical low point, but there is potential for future growth as negative factors have been largely absorbed [2]. Financial Performance - In 2024, the company achieved total operating revenue of 4.569 billion yuan, a year-on-year decrease of 25.29% [2] - The total profit amounted to -362 million yuan, a year-on-year decrease of 140.16% [2] - The net profit attributable to shareholders was -327 million yuan, a year-on-year decrease of 139.52% [2] - The superhard materials business generated revenue of 1.764 billion yuan, down 23.33% year-on-year [2] - The special equipment business achieved revenue of 2.393 billion yuan, down 29.34% year-on-year [2] - The automotive manufacturing business reported revenue of 412 million yuan, down 3.81% year-on-year [2] Strategic Initiatives - The company is accelerating the development of key equipment and technological innovation, with R&D investment for 2024 set at 727 million yuan, a year-on-year increase of 4.56% [3] - The proportion of R&D investment to operating revenue increased from 11.36% in 2023 to 15.91% in 2024 [3] - The company aims to transform traditional industries and foster strategic emerging industries, focusing on digital transformation and technological breakthroughs [3] Future Outlook - For 2025, the company plans to achieve operating revenue of 8.7 billion yuan, representing a 90% increase from 2024 [3] - The special equipment business is expected to generate over 6 billion yuan in revenue, potentially reaching a historical high [3] - The anticipated total amount of related transactions for 2025 is 5.59 billion yuan, a year-on-year increase of 124% from 2024 [3] Profit Forecast - The company’s net profit attributable to shareholders is projected to be 401 million yuan, 754 million yuan, and 1.208 billion yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 56.56, 30.08, and 18.77 [4]