Core Viewpoint - Xianheng International (605056) is expected to achieve a revenue of 1.58 billion yuan in the first half of 2025, representing a year-on-year growth of 33%, with net profit attributable to shareholders projected between 54 million and 66 million yuan, an increase of 27% to 55% year-on-year [1] Group 1: Financial Performance - The company anticipates a revenue of 1.58 billion yuan for the first half of 2025, marking a 33% increase compared to the previous year [1] - Net profit for the same period is expected to be between 54 million and 66 million yuan, reflecting a year-on-year growth of 27% to 55% [1] Group 2: Industry Trends - The trend of centralized procurement in MRO (Maintenance, Repair, and Operations) is gaining momentum as large enterprises increasingly outsource procurement to specialized suppliers [1] - MRO products account for only 10% of total procurement volume but consume about 80% of the procurement department's time and effort, highlighting the necessity of centralized procurement [1] - The MRO centralized procurement industry in China is expected to maintain growth in the near future due to the continuous emergence of large enterprises and the improvement of the manufacturing system [1] Group 3: Strategic Expansion - Xianheng International is actively expanding into emerging strategic industries such as oil and gas and power generation, leveraging successful experiences from the electric grid sector [2] - The revenue growth rates for strategic industries are projected to be 61% and 71% for 2023 and 2024, respectively, indicating strong growth momentum [2] - The company is investing in R&D to enhance its technological advantages, focusing on digital developments in the electric grid, including drone inspection platforms and specialized AI models [2] Group 4: Shareholder Engagement - The company has initiated a free experience program for all shareholders, expanding the scope to include Wuhan, enhancing investor returns [3] - Since its listing in 2021, the company has consistently implemented a high cash dividend ratio, maintaining over 60% annually [3] - The year 2025 is crucial for the company's five-year plan, with ongoing expansion in emerging strategic industries and the development of proprietary products and services laying a solid foundation for achieving annual operational goals [3]

4月22日，咸亨国际（605056）（605056）发布2024年年报，公司实现营业总收入36.06亿元，同比增长 23.15%；归属净利润2.23亿元，同比增长130.67%；扣非净利润2.25亿元，同比增长34.65%。尽管业绩 表现亮眼，公司在供应链管理和新行业拓展方面仍面临挑战。 销售板块：电网领域持续深耕，新战略行业拓展显著 自主产业是公司满足客户需求，提高客户粘性的重要方式，始终是支撑公司未来发展的战略板块。2024 年，公司研发投入6,764.78万元，同比增长21.49%，重点研发项目涉及无人机智慧巡检平台、具身智 能、电力鸿蒙等领域。自主产品销售收入约6.71亿元，同比增长29.13%。 公司于2024年1月在杭州市上城区取得了14.74亩的工业用地，并于当月正式开工建设，主要用于打 造"智能制造中心"。"智能制造中心项目"将借助杭州主城区的区位优势，吸引更多高端人才加入公司， 拟打造为智能、绿色的高端装备研发中心和制造中心，主要方向为高端液压装备、红外、声纹检测设 备、电缆智能检测设备、不停电作业设备、具身智能等相关核心技术、产品的研发和制造。 供应链管理：新增50余万个SKU，但效率仍需 ...