并购补链拓海外 宁波精达“十五五”卡位液冷与机器人赛道

Core Viewpoint - Ningbo Jingda (603088) is experiencing significant growth driven by national policies supporting high-end equipment manufacturing and the new energy industry, with the introduction of new businesses such as high-speed precision presses contributing to the company's second growth engine [1] Group 1: Business Growth and Financial Performance - During the "14th Five-Year Plan" period (2021-2025), Ningbo Jingda's main business segments, including heat exchanger equipment and precision presses, are expected to see steady growth, with projected revenue of 818 million yuan in 2024, a year-on-year increase of 15.38%, and a net profit of 165 million yuan, up 3.37% [2] - The rapid development of downstream sectors such as new energy vehicles and large white goods is driving the growth of Ningbo Jingda's microchannel and high-speed precision press equipment [2] Group 2: Product Development and Technological Advancements - The company offers a range of precision press products, including high-speed precision presses and specialized equipment for new energy battery casing, which have become a significant part of its growth strategy [3] - Ningbo Jingda has established itself as a leading manufacturer in the heat exchanger sector, with products distributed in over 60 countries and partnerships with major brands like Denso, Daikin, and Panasonic [3] Group 3: Mergers and Acquisitions - The acquisition of Wuxi Weiyan marks Ningbo Jingda's first major merger in over a decade, enhancing its product offerings and optimizing its industrial structure [5] - Post-acquisition, Wuxi Weiyan has shown strong market performance, with new orders in the first half of 2025 seeing over 50% from exports, reflecting a 70% year-on-year increase [6] Group 4: Strategic Focus and Future Directions - Ningbo Jingda is targeting the liquid cooling and robotics sectors, leveraging its microchannel technology to enter the data center cooling market, which is becoming increasingly important due to rising heat generation from digital economies [7] - The company is also expanding into the intelligent robotics sector, with plans to integrate its technology with Wuxi Weiyan and other partners to enhance its market presence [8] - Looking ahead to the "15th Five-Year Plan," Ningbo Jingda aims to become a global leader in customized forming technology and equipment services, focusing on new fields such as liquid cooling and robotics [9]