埃斯顿通过上市聆讯：预计2025年扣非后净利600万到800万 吴波家族控制42%股权

Core Viewpoint - Nanjing Estun Automation Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange after already being listed on the A-share market, with a current market capitalization of 21.2 billion RMB and an expected net profit of 6 to 8 million RMB after deducting non-recurring items for the upcoming year [2][12]. Group 1: Company Overview - Estun was established in 1993 and focuses on autonomous motion control and robotics technology, creating a complete industrial ecosystem for smart manufacturing [2][23]. - The company has developed three core business areas: industrial automation products, robotics and intelligent manufacturing systems, and industrial digitalization products, providing comprehensive solutions globally [4][25]. Group 2: Product and Market Presence - Estun offers a wide range of products covering information, control, drive, and execution layers, including high-precision multi-axis motion controllers and various automation systems [4][25]. - The company has 87 models of industrial robots that cover loads from 3 to 700 kg, serving industries such as automotive, photovoltaics, lithium batteries, and aerospace [6][27]. Group 3: Financial Performance - Estun's revenue for 2022, 2023, and 2024 was 3.881 billion RMB, 4.652 billion RMB, and 4 billion RMB respectively, with corresponding gross profits of 1.276 billion RMB, 1.455 billion RMB, and 1.134 billion RMB [8][29]. - The company reported a significant net loss of 817.685 million RMB in 2024, attributed to a 360 million RMB impairment of intangible assets and goodwill [8][29]. - For the first three quarters of 2025, Estun achieved a revenue of 3.8 billion RMB, a 12.8% increase from the previous year, with a net profit of 29.7 million RMB [10][31]. Group 4: Future Projections - Estun anticipates a net profit of 35 to 50 million RMB for 2025, a substantial recovery from the previous year's loss of 810 million RMB [12][33]. - The expected net profit after excluding non-recurring items is projected to be between 6 to 8 million RMB, compared to a loss of 840 million RMB in the prior year [12][33]. Group 5: Shareholding Structure - The controlling shareholders of Estun include Wu Bo and his family, holding approximately 42% of the voting rights, with Wu Bo directly owning 12.74% of the shares [13][40]. - As of September 30, 2025, the company had a diverse shareholder base, including institutional investors and employee stock ownership plans [19][42].