Company Overview - The company specializes in multi-station high-speed automatic cold forming equipment, primarily used for producing fasteners and irregular parts [3] - Cold forming technology is defined as "bulk metal forming technology at room temperature" [3] Production and Delivery - Production time varies significantly based on product complexity; small to medium models typically take 3-5 months, while large, customized models can take 6-12 months [3] - The company currently has a sufficient order backlog, with production schedules tightly packed [3] Downstream Applications - Key downstream industries include automotive, machinery, nuclear power, wind power, electrical, railways, construction, electronics, military, aerospace, petrochemical, shipping, and tools [4] - New application areas such as industrial robotics and security have emerged, although they contribute a small percentage to overall revenue [4] Market Size and Share - The company is the first publicly listed cold forming equipment manufacturer in A-shares; however, there is a lack of authoritative sales statistics for the industry [6] - The company aims to expand its market share by increasing R&D investment and production capacity while improving marketing and after-sales service [6] Marketing Strategy - The company employs a direct sales model, promoting products through industry exhibitions and advertisements in professional media [7] - International sales are primarily focused on countries such as India, Thailand, Turkey, Egypt, Brazil, Argentina, Algeria, Malaysia, and Tunisia [7] Talent Development - Training skilled technicians requires several years of practical experience due to the complexity of assembly and debugging processes [8] - The company emphasizes a craftsmanship spirit to cultivate dedicated and innovative technical talent [8] Equipment Lifespan - The typical lifespan of cold forming equipment is around 10 years, assuming no technological updates are required [9] Capacity Expansion - The company operates three production bases, with a new facility for multi-station high-precision intelligent forming equipment completed in June 2022 [9][10] - A new project for manufacturing heavy-duty customized equipment is expected to be completed by 2025 [10] Technological Advancements - The company is in the substantial development phase of multi-station intelligent precision warm forming equipment, with prototypes currently being tested [11] - Warm forming technology enhances material properties and allows for the efficient production of complex parts [11][12] Patent Portfolio - The company holds 13 patents related to warm forming technology, including 6 invention patents, and has overcome key technical challenges in this area [12][13]

Company Overview - The company specializes in multi-station high-speed automatic cold forming equipment, primarily used for manufacturing various metal parts at room temperature [2][3] - Cold forming technology is defined as "bulk metal forming technology at room temperature" [5] Equipment Features and Advantages - High-speed multi-station equipment can produce dozens to hundreds of parts per minute, enhancing production efficiency and saving space and labor [3] - The process improves mechanical properties such as tensile strength compared to cutting processes [3] - High material utilization with minimal or no cutting required [3] - Capable of processing complex and hard-to-cut metal parts [3] Production and Delivery - Production time varies significantly based on equipment specifications, with small to medium models taking 3-5 months and larger, customized models taking 6-12 months [5] - The company currently has a robust order backlog and tight production scheduling [5] Industry Characteristics - The cold forming equipment industry does not exhibit significant seasonal characteristics, as demand is influenced more by client orders and investment plans [6] Application Fields - Key application sectors include automotive, machinery, nuclear power, wind power, electrical, railways, construction, electronics, military, aerospace, petrochemicals, and shipbuilding [7] - New application areas such as industrial robotics and security are emerging, though they currently represent a small revenue share [7] Market Size and Share - The company is the first publicly listed cold forming equipment manufacturer in A-shares, but lacks authoritative sales statistics for market size and share [9] - The company aims to expand its market share by enhancing R&D and production capacity while improving marketing and after-sales services [9] Profitability and Product Development - Higher station counts in cold forming equipment generally correlate with higher profit margins [10] - The company has transitioned from producing 3-4 station models to 7-8 station products, enhancing product value [10] Marketing Strategy - The company employs a direct sales model, utilizing industry exhibitions and advertisements for customer outreach [11] - Key international markets include India, Thailand, Turkey, Egypt, Brazil, Argentina, Algeria, Malaysia, and Tunisia [11] Technological Advancements - The company is developing multi-station intelligent precision warm forging equipment, with prototypes currently in testing [12] - The warm forging technology aims to improve metal structure and enhance load capacity for complex parts [12] Talent Development - The company focuses on cultivating skilled technicians with a commitment to craftsmanship and innovation [12]

Group 1: Company Overview - The company specializes in cold forming equipment, which is complex and requires significant technical expertise and long-term R&D to manufacture [3][4]. - The typical lifespan of cold forming equipment is around 10 years under normal conditions [5]. Group 2: Market Barriers - There are significant entry barriers in the cold forming equipment industry, including technical, talent, and customer barriers [3]. - **Technical Barrier**: The complexity of the equipment and the need for extensive R&D limit new entrants [3]. - **Talent Barrier**: Skilled technicians require years of training and experience, making it difficult for new companies to compete [3]. - **Customer Barrier**: High-value equipment leads to cautious purchasing decisions from customers, who prefer established manufacturers [3]. Group 3: Production and Delivery - The production cycle for cold forming equipment varies significantly based on the model, with smaller models taking 3-5 months and larger, customized models taking 6-12 months [4]. - The company currently has a full order book and a tight production schedule [4]. Group 4: Market Demand - There is increasing demand for non-standard shaped parts, which is driving the need for cold forming equipment [4]. - The company aims to enhance its product offerings by focusing on intelligent, high-station, large-diameter, and environmentally friendly cold forming equipment [4]. Group 5: Global Market and Competition - The company is the first publicly listed cold forming equipment manufacturer in A-shares, but lacks authoritative sales statistics for the global and domestic market sizes [7]. - The company plans to increase R&D investment and expand production capacity to strengthen its market position and reduce the gap with international competitors [7]. Group 6: Marketing and Sales - The company employs a direct sales model, utilizing industry exhibitions and advertisements for customer acquisition [7]. - In 2024, overseas sales are primarily focused on countries such as India, Thailand, Turkey, and Brazil [7]. Group 7: Technological Advancements - The company has made significant progress in developing multi-station intelligent precision warm and hot forging equipment, with prototypes currently in testing [9][10]. - The company holds 13 patents related to warm forging technology, indicating strong innovation capabilities [10]. Group 8: Future Projects - A new manufacturing project for multi-station precision warm forging and large intelligent die-casting equipment is expected to be completed by 2025 [11]. - The project will enhance production capabilities and reduce delivery times for heavy equipment orders [11].

Group 1: Company Performance and Strategy - The company reported a revenue of approximately RMB 1.63 billion for Q1 2025, representing a year-on-year growth of 10.45% [11] - The net profit attributable to shareholders was about RMB 40.13 million, an increase of 14.45% compared to the previous year [11] - The company aims to strengthen R&D innovation, expand production capacity, and enhance marketing and after-sales service capabilities to maintain its leading position in the domestic market [3][11] Group 2: Production and Capacity Expansion - The company acquired a 42,545 square meter land parcel for RMB 63.18 million in December 2022, intended for manufacturing multi-station precision thermal forging equipment and integrated large intelligent die-casting equipment [4][15] - The construction of the new production base is expected to be completed by 2025, with a focus on producing customized heavy equipment to accelerate order delivery [4][15] - Currently, the company has three production bases, with one already operational since June 2022 [4][5] Group 3: Market and Industry Position - The company holds approximately RMB 293 million in effective orders as of December 31, 2024, indicating a robust order backlog [6] - The company is the first publicly listed firm in the cold forming equipment manufacturing sector in A-shares, facing competition primarily from non-listed companies [10][11] - The cold forming equipment industry is characterized by a three-tier competitive landscape, with international firms dominating the high-end market [11] Group 4: Future Growth and Development - Future product development will focus on intelligent, high-station, large-diameter, and environmentally friendly cold forming equipment [12][13] - The company is working on breaking the reliance on imported precision thermal forging equipment, aiming to meet domestic market needs for complex parts [13] - The revenue from industrial robot applications is currently small, accounting for approximately RMB 4.14 million, or 0.66% of total revenue for 2025 [8]

Core Viewpoint - The company, New Coordinate, demonstrates strong growth in its financial performance for 2024 and Q1 2025, alongside strategic partnerships aimed at enhancing its product offerings and market reach [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 680 million yuan, a year-on-year increase of 16.63% - The net profit attributable to shareholders was 211 million yuan, reflecting a growth of 14.76% - For Q1 2025, operating revenue reached 179 million yuan, marking a 26.15% year-on-year increase - The net profit attributable to shareholders for Q1 2025 was approximately 66.82 million yuan, up 37.59% from 48.56 million yuan in the same period last year [1]. Strategic Partnerships - The company plans to establish a joint venture, Hangzhou September Eight Precision Transmission Technology Co., Ltd., with a registered capital of 100 million yuan, where New Coordinate will contribute 77 million yuan for a 77% stake - The total investment for the project is around 500 million yuan, with remaining funds to be sourced from shareholders or through self-financing by the joint venture - The joint venture will focus on the R&D, production, and sales of precision transmission components such as rolled screw rods and ball screw rods [1]. Market Expansion - New Coordinate's products are widely used in the automotive and motorcycle engine timing mechanisms, with clients including major companies like Volkswagen, BYD, and China National Heavy Duty Truck Group - The company has successfully secured new projects with Chery Automobile and has seen new projects launched with European Volkswagen, MAN, Caterpillar, and Stellantis - The overseas market has shown significant growth, with revenue from Europe and Mexico increasing by 77.48% and 24.91% respectively, contributing to 293.70 million yuan in overseas revenue, which accounts for 43.17% of total revenue in 2024 [2]. Technological Advancements - The company has made substantial investments in R&D, achieving breakthroughs in several patented technologies, including acid-free rust removal and environmentally friendly phosphating processes - Innovations such as the liquid sandblasting machine have introduced new processes for wire surface treatment without acid washing - The company has expanded the application of cold forming technology to various materials, including aluminum, copper, titanium alloys, and stainless steel, enhancing product safety, reliability, and cost-effectiveness [3].