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唯科科技(301196):25Q1业绩超预期增长 入局机器人打开成长空间
Xin Lang Cai Jing·2025-04-29 02:48

Group 1 - The company reported a revenue increase of 35.64% to 1.819 billion in 2024, with a net profit increase of 31.05% to 220 million [1] - In Q1 2025, the company achieved a revenue of 539 million, representing a year-on-year growth of 64.37% and a quarter-on-quarter growth of 12.34%, with a net profit of 77 million, showing a year-on-year increase of 105.12% and a quarter-on-quarter increase of 80.83% [1] - The company's expense ratios for sales, management, R&D, and finance were 2.47%, 8.05%, 4.37%, and -0.73% respectively, with year-on-year changes of -0.4, -3.49, -0.56, and -0.05 percentage points [1] Group 2 - Demand for new energy and health appliances is rising, leading to better-than-expected performance growth, with overseas production capacity being continuously released to strengthen competitive advantages [2] - Revenue from injection molding products increased by 38.13% to 909 million in 2024, with a gross margin increase of 0.73 percentage points to 31.57%; health products revenue rose by 42.83% to 538 million, with a gross margin decrease of 5.32 percentage points to 20.96% [2] - The company is actively expanding in the new energy sector and acquired Yuke Plastic in May 2024, benefiting from the trends in the new energy vehicle industry [2] Group 3 - The company is a key supplier for overseas giants like Kollmorgen, providing components for robots, and is advancing in the development of electronic skin [3] - The company supplies motor components and gears to major motor companies and collaborates with firms like DANFOSS to develop advanced materials for applications in components [3] - The company is working with renowned medical brand AMBU to develop plastic human skin, and its subsidiary Yuke Plastic is developing IME in-mold electronic technology, which is expected to accelerate electronic skin development [3] Group 4 - The company is projected to achieve revenues of 2.221 billion, 2.684 billion, and 3.232 billion from 2025 to 2027, with corresponding net profits of 316 million, 371 million, and 399 million, leading to P/E ratios of 23.7, 20.2, and 18.7 respectively [3]