佳电股份: 2025年半年度报告

Core Viewpoint - The report highlights the financial performance and operational status of Harbin Electric Group Jiamusi Electric Machine Co., Ltd. for the first half of 2025, indicating a slight increase in revenue but a significant decline in net profit and cash flow. Financial Performance - The company's operating revenue for the reporting period was approximately 2.50 billion yuan, representing a 0.63% increase compared to the same period last year [4]. - The net profit attributable to shareholders decreased by 30.96% to approximately 112.62 million yuan [4]. - The net cash flow from operating activities showed a significant decline of 85.94%, amounting to approximately -950.66 million yuan [4]. - Basic earnings per share fell by 31.97% to 0.1996 yuan [4]. Business Overview - The company specializes in various types of electric motors, including explosion-proof motors, lifting metallurgy motors, and nuclear power-related motors, serving industries such as coal, petrochemical, aerospace, and nuclear power [5][6]. - The company has developed advanced products, including the YBX5 series of high-efficiency explosion-proof motors and K1 class motors for nuclear power plants, which have filled domestic technological gaps [6][7]. Research and Development - The company emphasizes technological innovation and has established a dual headquarters model for research and development, focusing on collaboration with universities and research institutions [10][11]. - The company holds 663 valid patents, including 248 invention patents, showcasing its strong capability in technological innovation [18]. Market Position and Competitive Advantage - The company is recognized as a leading manufacturer of special motors in China, with a wide range of products covering various industries and applications [14]. - It has a significant market share in the nuclear power sector, being the only domestic company with integrated design, manufacturing, and testing capabilities for nuclear pumps and motors [17]. Production and Manufacturing - The company operates advanced automated production lines and modern intelligent workshops, enhancing production efficiency and product quality [15][16]. - It has established a comprehensive quality management system to ensure product reliability and safety, particularly in the nuclear sector [18].