埃斯顿转战“A+H”股欲加速全球化

Core Viewpoint - Nanjing Estun Automation Co., Ltd. is taking significant steps towards listing on the Hong Kong Stock Exchange after experiencing substantial losses over the past decade, aiming to enhance its global strategy and international brand image [1][3]. Group 1: Company Overview - Estun focuses on two main business segments: automation core components and motion control systems, as well as industrial robots and intelligent manufacturing systems [3]. - The company has been a leading domestic brand in the shipment of industrial robots in China, particularly in the multi-joint industrial robot segment [3]. Group 2: Financial Performance - In 2024, Estun reported a revenue of 4.009 billion yuan, a year-on-year decline of 13.83%. The revenue from industrial robots and intelligent manufacturing systems was 3.032 billion yuan, down 16.04%, while the automation core components segment generated 976 million yuan, down 6.13% [3]. - The company faced a significant loss of 810 million yuan in net profit attributable to shareholders, marking its first major loss since its listing in March 2015 [3]. - The decline in revenue and gross margin, along with increased operating expenses, particularly personnel costs, and impairment provisions, contributed to the losses [3]. Group 3: Strategic Initiatives - Estun's management has outlined a strategy for returning to profitability in 2025, focusing on global expansion, strategic focus, technological breakthroughs, and operational efficiency [4]. - Specific measures include optimizing the marketing system, expanding business channels, increasing R&D investment, actively pursuing overseas markets, and enhancing internal management to reduce costs and improve efficiency [4]. Group 4: Shareholding Structure - As of the end of Q1 2025, Nanjing Paili Technology Co., Ltd. is the controlling shareholder of Estun, holding 29.4% of the shares, while Chairman Wu Bo holds 12.8% [4].