艾迪精密：公司硬质合金业务专注于中高端市场

Core Viewpoint - The company focuses on the mid-to-high-end market for hard alloy tools, with strong customized R&D capabilities, particularly in the steel tool sector, achieving a leading position domestically, especially for bearing steel processing scenarios [2] Group 1: Company Strategy and Market Position - The company aims to replace Japanese imported tools, helping clients improve efficiency and reduce costs [2] - By 2025, the company's tool production capacity is expected to reach 7 million pieces, with a potential to exceed 20 million pieces by 2026 [2] - The tungsten price, currently at a high level, supports price increases for tool products in the industry [2] Group 2: Industry Trends and Competitive Landscape - The tool industry is entering a phase of accelerated domestic substitution, with market share concentrating on companies with stronger cost transmission capabilities and technological advantages [2] - The company maintains a raw material inventory of 2-3 months for its tool division, allowing for cost transfer through distributors and guiding end customers to stock up [2]