SNS(SZ:300470) Sou Hu Cai Jing·2025-05-31 11:04Core Insights - The company has seen a shift in its international business model, with increasing direct communication and collaboration with foreign end-users [1][4] - The market space for the company's international business along the "Belt and Road" initiative countries accounts for approximately one-third of the total international market for mechanical seals [2][4] - The company's primary export regions include the Middle East, Southeast Asia, Central Asia, and Africa, and it has not been directly affected by tariffs [3][4] - The company is the only domestic enterprise with performance in nuclear main pump mechanical seals, but there has been no significant progress in its nuclear power business [3][4] Company Performance - As of May 30, 2025, the company's stock closed at 35.85 yuan, a 0.9% increase from the previous week [1] - The company's total market capitalization is 7.463 billion yuan, ranking 43rd in the general equipment sector and 2068th in the A-share market [1] Risk Management - The company serves major state-owned enterprises and well-known private enterprises, maintaining a strong focus on customer credit ratings to mitigate bad debt risks [2] - The company has implemented a robust collection strategy and regularly reviews aging accounts receivable to enhance cash flow [2] Strategic Outlook - The company is optimistic about future international market growth, particularly in regions rich in oil and gas resources along the "Belt and Road" [2] - The company is prepared to seize new project opportunities as they arise, although growth in international business may slow compared to previous years due to geopolitical factors [2]