Sinochem Equipment Technology (Qingdao) (SH:600579) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-05-05 13:41Core Viewpoint - The company reported a mixed performance in the first quarter of 2025, with growth in new orders for chemical machinery but challenges in the rubber machinery sector due to market conditions and external factors [5][6]. Financial Data - The financial report for the first quarter of 2025 is unaudited [3][7]. - The company achieved a total new order of 408 million yuan in the chemical machinery sector, representing a 43% year-on-year increase [6]. - The backlog of orders in the chemical machinery sector reached 1.39 billion yuan, showing a 9.37% increase year-on-year [6]. - In the rubber machinery sector, new orders were 26.79 million yuan, remaining flat year-on-year, with a current backlog of 33 million yuan [6]. Market Conditions - The domestic petrochemical industry is experiencing a mild recovery alongside structural pressures, with a slowdown in new investment growth affecting demand for new petrochemical equipment [5]. - Government initiatives, including the allocation of 300 billion yuan in special bonds to support equipment upgrades, are expected to create new business opportunities in the sector [5]. - The rapid development of the domestic new energy vehicle industry is supporting demand for rubber tires, although there is a significant disparity in demand between all-steel and semi-steel tires [5]. Operational Improvements - The company has implemented cost reduction measures and optimized production organization to improve operational performance despite a decline in revenue from new orders [6]. - There is a commitment to enhance sales efforts and operational excellence to continuously improve business quality and efficiency [6].