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康斯特(300445) - 北京康斯特仪表科技股份有限公司2025年09月23日投资者关系活动记录表
2025-09-23 09:20
证券代码:300445 证券简称:康斯特 编号:20250923 投资者关系活 动类别 ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 ( ) 参与单位名称 及人员姓名 东北证券 (以上排名不分先后) 时间 2025-09-23 地点 公司会议室 上市公司接待 人员姓名 刘楠楠 董事会秘书 李 广 证券事务代表 投资者关系活 动主要内容 校准与测试业务 (1) 公司产品的主要应用行业和客户类型有哪些? 答:公司主营业务产品属于计量校准仪表,主要应用于石油化工、 电力等行业的计量校准实验室或热工实验室,以及厂区自控装置系统 相关压力、温湿度仪表的现场校准检测。客户包括自建实验室的中大 型企业、第三方检测机构等。 (2) 不同行业客户的需求差异如何? 答:电力、石油石化等流程工业因被检仪表数量多,采购需求更 大;第三方检测机构需采购设备为客户提供服务;小型企业因成本考 虑通常选择送检而非自购设备。 (3) 产品生命周期和更换周期是多久? 答:产品寿命一般为 5~8 年,实际更换周期取决于使用频次。围 绕用户需求,公司一直在通过持续研发新产品,与客户共同成长,进 ...
麦格米特(002851):多元布局扩规模 利润静待释放
Xin Lang Cai Jing· 2025-04-30 08:48
Core Viewpoint - The company reported lower-than-expected financial performance for 2024 and Q1 2025, primarily due to declining gross margins and changes in expenses and profits [1][2]. Financial Performance Summary - For 2024, the company achieved revenue of 8.172 billion yuan, a year-on-year increase of 21%, but the net profit attributable to shareholders was 436 million yuan, a decrease of 31% [1]. - In Q1 2025, revenue reached 2.316 billion yuan, reflecting a year-on-year growth of 27% and a quarter-on-quarter increase of 2%. However, the net profit attributable to shareholders was 107 million yuan, down 23% year-on-year but up 329% quarter-on-quarter [1]. - The gross margin for Q4 2024 and Q1 2025 was 23.90% and 22.95%, respectively, showing a decline of 0.65 and 2.95 percentage points year-on-year [2]. Business Segment Performance - In 2024, the smart home appliance control business generated revenue of 3.74 billion yuan, up 43% year-on-year, while the power supply business brought in 2.35 billion yuan, an 11% increase [3]. - For Q1 2025, the smart home appliance control business revenue was 1.23 billion yuan, a 32% increase year-on-year, and the power supply business revenue was 490 million yuan, up 1% [3]. - The company is expected to continue steady revenue growth as it expands its focus on key product areas and overseas markets [3]. Strategic Outlook - The company is diversifying its business and expects improved profitability as various segments scale up [2]. - The data center business is progressing steadily, with expectations for significant deliveries starting in the second half of 2025 [3]. - The company aims to leverage customer partnerships for product updates and market opportunities, building a competitive moat [4]. Profit Forecast and Valuation - The company has adjusted its gross margin assumptions and forecasts net profits of 622 million yuan, 789 million yuan, and 1.013 billion yuan for 2025, 2026, and 2027, respectively [5]. - The estimated price-to-earnings ratio for 2025 is set at 46.4 times, reflecting a 40% premium over comparable companies, with a target price of 52.91 yuan [5].