【私募调研记录】途灵资产调研中国海诚

Core Viewpoint - Recent research by Tuling Asset Management on China Haicheng indicates a temporary decline in Q1 revenue and profit due to the Spring Festival, but a confident outlook for stable annual growth with a 5.80% year-on-year increase in new contracts [1] Group 1: Company Performance - In Q1, China Haicheng's revenue and profit were affected by seasonal factors, but new contracts increased by 5.80% year-on-year [1] - The company expects significant growth in overseas business, particularly in sectors like pulp and paper, food fermentation, environmental protection, and new energy materials [1] - New orders in the pulp and paper sector reached 3.199 billion yuan, marking an 86.96% year-on-year increase, while Q1 2025 new orders were 840 million yuan, up 97.32% year-on-year [1] Group 2: Strategic Initiatives - The company launched the "Haicheng Cloud·Factory Digital Design and Collaborative Sharing Platform" and was selected for a project by the Ministry of Industry and Information Technology, focusing on smart manufacturing and digital delivery [1] - The business includes research, manufacturing, sales, and service of intelligent manufacturing complete equipment, covering industrial robot application systems [1] Group 3: Market Management - China Haicheng is implementing market value management through restricted stock incentive plans, targeted stock issuance, enhanced information disclosure, investor relations activities, and ongoing cash dividends [1]