风电设备部件龙头锡华科技IPO正式招股 2025年前三季度营收净利润双双高增

Core Viewpoint - Xihua Technology officially launched its IPO on December 4, 2025, aiming to issue 100 million new shares, accounting for 21.74% of the total share capital post-IPO [1] Group 1: Company Overview - Xihua Technology specializes in the R&D, manufacturing, and sales of high-end equipment components, primarily focusing on wind turbine gearbox components and injection molding machine parts [1] - The company is one of the few in China capable of providing full-process services for wind turbine gearbox components, positioning itself as a leader in the global industry [1] Group 2: Financial Performance - For the first three quarters of 2025, the company reported revenue of 950.81 million yuan, a year-on-year increase of 35.35% [1] - Net profit reached 161.57 million yuan, reflecting a year-on-year growth of 55.22% [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, grew to 161.32 million yuan, with a significant year-on-year increase of 58.62% [1] Group 3: Technological and Product Advantages - The company has over 20 years of industry experience, establishing a robust R&D system and strong competitive advantages in core technologies [2] - Xihua Technology is advancing its manufacturing technology for wind turbine gearbox components, focusing on thick-section ductile iron technology to address industry challenges [2] - The company offers comprehensive services from raw material manufacturing to finished product processing, enhancing procurement efficiency and production quality for clients [2] Group 4: Client Relationships and Market Expansion - Xihua Technology has established stable partnerships with leading companies in the wind turbine gearbox sector, such as NGC, Flender, and ZF, with most collaborations lasting over ten years [3] - The company is actively expanding its client base, forming stable relationships with quality enterprises like Delijia and CRRC, thereby enhancing its customer matrix and business growth potential [3] Group 5: Fundraising Purpose - The company plans to invest the raised funds into projects such as the "Wind Power Core Equipment R&D Center and Industrialization Project (Phase I)" and "Key Core Components R&D Project for Wind Turbine Gearboxes" [3] - Successful implementation of these projects is expected to support scale expansion, industry chain improvement, market development, and technological upgrades, thereby strengthening the company's core competitiveness [3]