YIZUMI(SZ:300415) Xin Lang Cai Jing·2025-09-05 08:48Core Viewpoint - The company reported a strong performance in the first half of 2025, with revenue and net profit showing significant year-on-year growth, indicating resilience and growth potential in a challenging market environment [1][2]. Group 1: Financial Performance - In H1 2025, the company achieved revenue of 2.746 billion yuan, a year-on-year increase of 15.89%, and a net profit attributable to shareholders of 345 million yuan, up 15.15% year-on-year [1][2]. - In Q2 2025, the company recorded revenue of 1.559 billion yuan, reflecting a 10.20% year-on-year growth, and a net profit of 212 million yuan, which is a 15.70% increase year-on-year, aligning with market expectations [1][2]. Group 2: Business Segments - All three major business segments demonstrated double-digit growth: injection molding machines generated 1.932 billion yuan (up 13.09%), die-casting machines 556 million yuan (up 33.29%), and rubber machines 119 million yuan (up 23.85%) [2]. - The company has shown its ability to grow counter-cyclically, particularly since Q2 2023, despite a downturn in the domestic molding equipment industry [2]. Group 3: Profitability - The gross margin for H1 2025 was 31.08%, a decrease of 2.53 percentage points year-on-year, while the net margin was 12.90%, a slight decline of 0.01 percentage points [3]. - The decline in gross margin is attributed to changes in accounting policies and strategic decisions to enhance market share through cost-effective models [3]. Group 4: Strategic Developments - The company is leading in the layout of semi-solid magnesium alloy injection molding machines, which are expected to see increased demand in the electric vehicle and robotics sectors [4]. - The unique technology of semi-solid magnesium alloy allows for high-precision molding and reduced production risks, making it advantageous over traditional high-pressure die casting [4]. - A strategic partnership has been established with a well-known global automotive parts manufacturer, indicating potential for significant growth in this area [4]. Group 5: Future Outlook - The company maintains a positive outlook, projecting net profits of 735 million yuan, 854 million yuan, and 980 million yuan for 2025-2027, representing year-on-year growth rates of 21%, 16%, and 15% respectively [4].