Core Viewpoint - 崇德科技 has reported significant growth in revenue and profit for 2024, driven by its "one core, two wings" strategy focusing on the core business of dynamic pressure oil film sliding bearings while expanding into industrial services and international markets [1] Financial Performance - In 2024, the company achieved a revenue of 518 million yuan and a net profit attributable to shareholders of 115 million yuan, representing a year-on-year increase of 14.07% [1] - The net cash flow from operating activities reached 141 million yuan, up 170.83% year-on-year [1] - For Q1 2025, the company reported a revenue of 120 million yuan, a growth of 4.68% year-on-year, and a net profit of 27.81 million yuan [1] Industry Position and Innovation - 崇德科技 is recognized as a leading domestic manufacturer of dynamic pressure oil film sliding bearings, addressing the reliability challenges of bearings under high temperature and heavy load, thus breaking foreign technology monopolies [2] - The company has made significant advancements in the localization of key components, including overcoming challenges in the domestic production of third-generation nuclear power main pump bearings [2] International Market Expansion - The company has successfully entered the supply chains of international giants such as Siemens AG, GE, and ABB, with overseas revenue reaching 80.68 million yuan in 2024, marking a 27.87% increase [3] - 崇德科技 has established a European center to enhance local market sales and service capabilities, and has acquired 100% of German company Levicron to strengthen its international market presence [5] New Product Development - The company is actively expanding into new industries, focusing on wind power bearings, high-speed motors, and air-floating main shafts, achieving breakthroughs in these areas [4] - 崇德科技 has developed the second-generation wind power sliding bearings, which are positioned as industry-leading in design and manufacturing technology [4] Future Outlook - With the growth of downstream industries such as energy generation and petrochemicals, the demand for dynamic pressure oil film sliding bearings is expected to rise, positioning 崇德科技 for continued growth [6] - The company's strategic focus on innovation and international expansion is anticipated to enhance its competitive edge and facilitate the import substitution of key components [6]
崇德科技：深化落实“一核两翼”战略布局，2024年净利润同比增长14.07%