Group 1 - The company is a leading player in the precision machine tool industry, experiencing rapid growth and actively expanding into emerging fields such as AI liquid cooling and humanoid robots [1][2] - For the fiscal years 2026E to 2028E, the company is projected to achieve revenues of 5.182 billion, 5.823 billion, and 6.562 billion yuan, with net profits of 1.018 billion, 1.108 billion, and 1.263 billion yuan for the fiscal years 2025E to 2027E [1] - The company has a strong focus on high-end CNC machine tools, with a significant increase in revenue and net profit in the first half of fiscal year 2026, achieving approximately 2.497 billion yuan in revenue (up 26.2% year-on-year) and a net profit of 502 million yuan (up 47.7% year-on-year) [2] Group 2 - The company is witnessing rapid growth in orders related to AI liquid cooling connectors, which is expected to support future performance growth, with a significant market share in domestic orders [2] - The company is actively developing its humanoid robot-related business, with increasing demand for small precision components driven by advancements in autonomous driving and AI applications [3] - The company has successfully signed equipment orders with numerous clients for various machine tools, enhancing its market competitiveness through cost reduction and efficiency improvement measures [3]

Group 1 - The core business of the company is the research, production, and sales of CNC machine tools [1] - The company does not directly operate PCB processing equipment, but its CNC machine tools can be applied in the production of equipment and metal components for the PCB industry [1]

南财智讯1月22日电，日发精机在投资者关系活动中表示，公司数控螺纹磨床主要用于新能源汽车、人 形机器人、工业母机等行业的高精度丝杆和螺母加工，具备高效率和高精度优势，已获得客户认可。目 前公司已与贝斯特、五洲新春、三联锻造等客户签署合同或达成战略合作，部分内外螺纹磨床及螺母专 用磨床已交付使用。由于部分下游应用领域尚处早期阶段，产业化放量仍需时间，相关设备尚未实现持 续产能释放。 ...

编号：2026-01 证券代码：002520 证券简称：日发精机 浙江日发精密机械股份有限公司 投资者关系活动记录表 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 1、华创证券有限责任：范益民、丁祎、陈宏洋 2、太平资产管理有限公司：朱云、赵洋 3、中金资产管理有限公司：韩诚 4、浦银安盛基金管理有限公司：邹江渝 5、上海瀛赐私募基金管理有限公司：胡小骏 6、诺德基金管理有限公司：牛致远 7、路博迈基金管理（中国）有限公司：范适 8、国投瑞银基金管理有限公司：李耀徽 9、天风证券股份有限公司上海证券自营分公司权益投资部：杜玙 10、上海康橙投资管理股份有限公司：谭飞 11、上海浦东科技创业投资有限公司：王佳璇 12、上海大筝资产管理有限公司：宋博雅 13、北京中成博泰投资管理有限公司：卢慧 14、上海贝寅私募基金管理有限公司：杨兆媛 | | 15、中财招商投资集团商业保理有限公司：周康 | | --- | --- | | | 16、上海厚港私募基金管理有限公司：刘冠 | | | 17、厦门中略投资管理有限公司：姚迪 ...

Core Viewpoint - The company, Haomai Technology, has seen an increase in customer orders for its machine tool products since their market launch in 2022, indicating a positive trend in sales and customer demand [1] Group 1: Product and Market Performance - The company's machine tool products include vertical five-axis machining centers, precision machining centers, ultra-hard tool five-axis laser machining centers, horizontal five-axis machining centers, and horizontal turning-milling composite machining centers [1] - The customer base spans various industries, including electronic information, automotive manufacturing, precision molds, and semiconductors [1] Group 2: Financial Outlook - For the period from January to September 2025, the company's CNC machine tool products are projected to achieve a consolidated revenue of approximately 800 million yuan [1] - The performance of the machine tool business is influenced by industry policies, market demand, and changes in the internal and external order structure [1]

Group 1 - The core viewpoint of the article is that Haomai Technology has provided insights into its CNC machine tool business, highlighting the production of key components such as machine beds and functional parts like cradle turntables [2] Group 2 - The company focuses on self-manufactured parts within its CNC machine tool operations, indicating a commitment to in-house production capabilities [2]

Core Viewpoint - The company has reported positive customer feedback and increasing order volumes for its CNC machine tools since their market launch in 2022 [1] Group 1: Business Performance - The CNC machine tool business achieved a consolidated revenue of approximately 800 million yuan from January to September 2025 [1] - The production lines are currently busy, indicating strong operational capacity [1] Group 2: Market Factors - The company's annual performance will be influenced by industry policies, market demand, and changes in order structure [1]

Core Viewpoint - Haitong International forecasts strong revenue and profit growth for Tsugami Machine Tool China from FY2026 to FY2028, with a target price of HKD 46.94 based on a 15x P/E ratio for FY2026, and initiates coverage with an "Outperform" rating [1] Group 1: Financial Projections - Expected revenues for FY2026, FY2027, and FY2028 are projected at CNY 5.439 billion, CNY 6.984 billion, and CNY 8.601 billion respectively [1] - Forecasted net profits attributable to shareholders for FY2026, FY2027, and FY2028 are CNY 1.053 billion, CNY 1.132 billion, and CNY 1.589 billion respectively [1] - Earnings per share are anticipated to be CNY 2.8, CNY 3.49, and CNY 4.23 for FY2026, FY2027, and FY2028 respectively [1] Group 2: Business Performance - The company has experienced rapid growth, with a net profit of CNY 479 million in FY2024, expected to increase by 63% to CNY 782 million in FY2025 [1] - Sales revenue increased by approximately 26.2% year-on-year, while net profit grew by about 47.7% year-on-year in the past six months [1] - The main business focuses on four downstream industries: automotive parts, IT communications electronics, industrial automation, and medical devices, with the automotive sector being the primary growth driver over the past two years [1] Group 3: Market Trends - The domestic automotive industry is expected to maintain stability this year, with the trend towards smaller components in new energy vehicle parts aiding the company's penetration [2] - The 3C industry is showing signs of recovery, benefiting from product updates and iterations by leading smartphone manufacturers [1][2] - The company's lathe business is projected to achieve stable growth of 20% to 25% driven by advancements in automotive-related and new AI businesses [2]

Core Viewpoint - Haitong International forecasts significant revenue and profit growth for Tsunami Machine Tool China from FY2026 to FY2028, with a target price of HKD 46.94 based on a 15x P/E ratio for FY2026, and an "Outperform" rating assigned for the first coverage [1]. Group 1: Financial Projections - Expected revenues for Tsunami Machine Tool China are projected to be CNY 54.39 billion, CNY 69.84 billion, and CNY 86.01 billion for FY2026, FY2027, and FY2028 respectively [1]. - Forecasted net profits attributable to shareholders are CNY 10.53 billion, CNY 11.32 billion, and CNY 15.89 billion for the same fiscal years [1]. - Earnings per share are anticipated to be CNY 2.8, CNY 3.49, and CNY 4.23 for FY2026, FY2027, and FY2028 respectively [1]. Group 2: Business Performance - The company has experienced rapid growth in the past two years, with a net profit of CNY 4.79 billion in FY2024 and a projected increase of 63% to CNY 7.82 billion in FY2025 [1]. - Sales revenue increased by approximately 26.2% year-on-year, while net profit attributable to shareholders grew by about 47.7% year-on-year in the last six months [1]. - The main business focuses on four downstream industries: automotive parts, IT communications electronics, industrial automation, and medical devices, with the automotive sector being the primary growth driver over the past two years [1]. Group 3: Market Trends - The domestic automotive industry is expected to maintain stability this year, with the trend of miniaturization in new energy vehicle components aiding the company's penetration rate [2]. - The 3C industry is showing signs of recovery, benefiting from product updates and iterations by leading smartphone manufacturers [1][2]. - The company’s lathe business is projected to achieve stable growth of 20% to 25% driven by advancements in automotive-related and new AI business sectors [2].

Core Viewpoint - Tsugami Machine Tool China (01651) has shown a significant increase in stock price, with a rise of approximately 3.66% to HKD 37.98, reflecting strong sales and profit growth driven by the automotive sector and emerging business opportunities in AI and robotics [1] Financial Performance - As of September 2025, Tsugami's sales revenue has increased by about 26.2% year-on-year, while net profit attributable to shareholders has grown by approximately 47.7% [1] - The automotive sector has been the main growth driver for the company over the past two years, with expectations for stable performance in the domestic automotive industry through 2026 [1] Industry Trends - The trend towards smaller components in the new energy vehicle parts sector is expected to enhance the company's market penetration [1] - The 3C industry is showing signs of recovery, benefiting from product updates and iterations by leading smartphone manufacturers [1] Emerging Business Opportunities - In the AI sector, the company’s automatic lathe products have a significant cost-performance advantage in processing rapid liquid cooling connectors, leading to a substantial increase in product shipments [1] - For the first half of the 2025-2026 fiscal year, the company has achieved sales of AI liquid cooling-related products amounting to CNY 120 million, with expectations to exceed 2,000 units sold in 2026, contributing approximately CNY 800 million to revenue [1] - In the robotics field, the company offers precision machining solutions for core components through its series of products, including heart machines, thread rolling machines, and external cylindrical grinding machines, showcasing strong product competitiveness [1]