事件描述 公司发布24 年报及25 年一季报，2024 年公司实现营收50.63 亿元，同比+23.61%；归母净利润6.08 亿 元，同比+27.42%；扣非归母净利润5.92 亿元，同比+29.85%。其中24Q4 营收13.90 亿元，同比 +20.21%；归母净利润1.27 亿元，同比+13.49%；扣非归母净利润1.24 亿元，同比+10.93%。 25Q1 营收11.87 亿元，同比+24.32%；归母净利润1.32 亿元，同比+14.29%；扣非归母净利润1.26 亿 元，同比+13.57%。 事件评论 携手库卡展出智能机器人+注塑生产线方案，布局智能制造。公司与库卡合作，依托智能开模技术与机 器人精准取件的无缝配合，在库卡开放日现场展示了注塑成型的高效稳定生产过程，不仅提升了生产效 率，更实现了零缺陷生产，为制造业智能化树立了新标杆。 回购股份拟用于股权激励或员工持股计划，彰显公司发展信心。25 年4 月8 日，公司控股股东提议以集 中竞价交易方式回购公司股份，回购金额不低于1500 万元且不超过2500万元，回购股权全部用于股权 激励计划或实施员工持股计划，彰显公司发展信心。 维持"买入"评 ...

一、中国耐用消费品行业 高盛采访了白色家电、消费电子和家具行业内的部分覆盖公司。这些公司平均 35% 的收入来自中国出 口，7% 的收入来自对美出口。采访的主要结论如下： 持续向海外工厂转移生产：在过去一周，多数受访公司表示，它们仍在向海外工厂转移生产（部分公司 的转移速度有所加快）。值得注意的是，一家公司提到，其收到的美国客户订单（与前一周相比）有所 增加，因为客户希望在当前 90 天的关税暂缓期到期前进行补货。 价格重新谈判的能见度仍然较低：受访公司表示，价格重新谈判进展有限。然而，一家主要为美国品牌 和零售商生产产品的公司提到，他们预计美国客户和终端消费者将承担更大比例的关税成本。对于直接 向终端消费者销售产品的公司，出于对市场份额的担忧，他们重申了在美国提高产品价格时的谨慎态 度。 美国以外地区的需求保持稳定，欧洲成为吸收此前美国产能的主要来源：多数受访公司表示，美国以外 地区的需求依然稳定。在回应如何处理此前面向美国市场的产能时，大多数公司提到，鉴于国内和海外 市场的产品存在差异，他们计划将这部分产能转移至其他海外市场。在不同的海外市场中，多数公司认 为欧洲市场规模较大，是吸收美国产能的潜在主要来源 ...

Core Insights - The 2025 CHINAPLAS exhibition, themed "Transformation·Collaboration·Co-creating Sustainability," attracted over 4,500 exhibitors, showcasing advancements in the injection molding industry towards sustainability, intelligence, and precision [1][3] - Major companies like KraussMaffei, Arburg, and Wittmann Battenfeld demonstrated innovations such as AI energy optimization, high-performance electric motors, and automated processes, indicating a shift towards energy efficiency and technological integration in the industry [3][11] - The global injection molding market is projected to grow from $16 billion in 2025 to $20.1 billion by 2029, highlighting significant growth potential [3] Industry Developments - The exhibition featured specialized zones for injection molding solutions, covering an area of 53,000 square meters, indicating a strong focus on this segment [1] - Approximately 150 countries and regions participated, with over 20% of buyers being international, showcasing the global interest in injection molding technologies [3] - The presence of over 980 "specialized, refined, distinctive, and innovative" exhibitors, including 260 national-level "little giant" enterprises, underscores China's growing strength in high-end manufacturing [3] Technological Innovations - The POTENZA-A series PTA250 servo energy-saving injection molding machine from LKK Technology reduced the production cycle for thick-walled automotive lens to 240 seconds, addressing traditional manufacturing challenges [5] - The ELETTRICA-S series ELS400 electric high-speed thin-wall packaging injection molding machine achieved a 20% efficiency improvement and a 20% reduction in energy consumption compared to traditional models [8] - LKK Technology's sandwich injection technology allows for the incorporation of up to 50% recycled materials in products, promoting both environmental sustainability and performance [9] Market Trends - The successful turnout at CHINAPLAS indicates a robust future for the global injection molding industry, with a focus on continuous innovation as a key to sustainable development [11] - The shift from cost advantages to technological innovation reflects a transformation in the industry, emphasizing the importance of resilience in supply chains [11]