HONGLU(SZ:002541) Chang Jiang Shang Bao·2026-01-12 23:50Core Viewpoint - Honglu Steel Structure (002541.SZ) is expected to deliver a stable operational performance in 2025, characterized by increased volume and steady orders, driven by its ongoing smart transformation efforts [1][2]. Group 1: Sales and Production Performance - In 2025, Honglu Steel Structure signed new sales contracts totaling approximately 29.102 billion yuan, reflecting a slight year-on-year increase of 2.84% [1][2]. - The company's steel structure product output reached 5.0207 million tons in 2025, marking a significant year-on-year growth of 11.30%, with fourth-quarter production alone at 1.4105 million tons [1][2]. - By the end of 2024, the annual production capacity of steel structures is expected to increase to 5.2 million tons, consolidating its manufacturing advantages and steadily increasing market share [2]. Group 2: Smart Transformation and R&D Investment - Honglu Steel Structure has invested approximately 3 billion yuan in R&D from 2021 to the first three quarters of 2025, focusing on smart upgrades of production lines [3][4]. - The company has implemented nearly 2,000 lightweight welding robots and ground rail welding workstations across its ten major manufacturing bases, enhancing production efficiency and product stability [3]. - A strategic partnership with Qianjiang Robot, a subsidiary of Aishida, has been established to accelerate smart transformation through collaborative R&D and procurement of intelligent equipment [4][5]. Group 3: Future Outlook - The dual approach of "independent R&D + external collaboration" is expected to strengthen Honglu Steel Structure's core competitiveness, with anticipated improvements in capacity utilization, production costs, and product quality [5]. - The ongoing smart transformation is projected to yield continuous benefits, supported by demand in manufacturing, infrastructure, and public construction sectors [5].