华新精科：创新求精智造未来 成为精密冲压铁芯一体化解决方案全球引领者——江阴华新精密科技股份有限公司首次公开发行股票并在主板上市网上投资者交流会精彩回放

Core Viewpoint - The company aims to become a global leader in integrated precision stamping core solutions, focusing on innovation and quality manufacturing in the precision stamping field [1][8]. Business Overview - The company's main business is the research, production, and sales of precision stamping cores and related precision stamping molds [1]. - The company has established a subsidiary in Mexico as a key node for entering the North American market, specifically for producing cores for electric vehicle drive motors, with production expected to start in the second half of 2025 [2]. Financial Performance - The company's revenue and net profit have shown consistent growth, with revenues of 1.1919 billion, 1.1888 billion, and 1.4205 billion yuan for 2022, 2023, and 2024 respectively, and net profits of 113.73 million, 155.82 million, and 149.65 million yuan [4]. - The comprehensive gross profit margins were 16.89%, 21.86%, and 20.43% during the same period, indicating a strong performance in its main business [6]. Market Dynamics - The core drivers for the growth in revenue from electric vehicle drive motor cores are attributed to the industry's growth, with China's electric vehicle sales projected to increase from 6.887 million to 12.866 million units from 2022 to 2024, representing a compound annual growth rate of 36.68% [5]. - The company has established partnerships with major clients such as BYD, BMW, and ZF, enhancing its market presence and product competitiveness [5]. Competitive Advantages - The company possesses several competitive advantages, including technological superiority, customer relationships, scale advantages, and a comprehensive process capability [10][11]. - As of June 2025, the company holds 80 authorized patents and has developed core processes such as adhesive bonding and laser welding, enabling it to process ultra-thin silicon steel [11]. Future Development Strategy - The company's core development strategy for the next 3-5 years focuses on expanding the application of precision stamping cores and downstream processing businesses, aiming to become a global leader in integrated solutions [8]. - Future R&D investments will concentrate on core technology innovation, product and process development, and mold technology upgrades [12][13]. Industry Landscape - The precision stamping industry has seen significant growth, with many large automotive and electrical equipment manufacturers establishing production bases in China, leading to improved production processes and technology levels [15]. - The company has a strong competitive position in the industry, recognized for its comprehensive process capabilities and partnerships with leading manufacturers [16]. Investment and Funding - The company plans to use the funds raised from its IPO for projects including the expansion of electric vehicle drive motor core production, the establishment of a precision stamping and mold R&D center, and to supplement working capital [24]. - The investment is expected to enhance the company's production capacity and market share, ultimately improving its profitability and competitiveness [25][26].