每经AI快讯，有投资者在投资者互动平台提问：1.公司对佛山新工厂的定位？佛山新工厂主要生产何种 产品？2.公司营收持续下降，请问公司如何判断和应对当前封边机市场低迷情况？3.请问当前工厂产能 利用率？4.中报提到丹齿精工的多款产品可用于机器人、风电、低空航空发动机、新能源、工程机械、 运输制冷等领域，请问目前与下游对接情况？是否已经有订单给公司带来营收？ 弘亚数控（002833.SZ）12月6日在投资者互动平台表示，基于公司已披露的信息及经营情况，现就您的 问题回复如下： 1、佛山新工厂是公司在华南地区的重要战略布局，定位为高端装备研发生产基地，主 要生产数控裁板锯、智能加工中心、一人线、砂光机、包装线、多轴加工中心等多系列家具机械产品， 以贴近市场、提升服务能力，强化公司在家具智能制造领域的竞争力。 2、公司将持续研发提高产品技 术创新，并积极拓展海内外市场，以应对国内行业变化，持续提高市场占有率。 3、公司依据订单情况 动态调整生产安排，目前整体生产经营正常有序，产销情况请参阅定期报告。 4、丹齿精工的相关产品 具备在多领域应用的潜力，目前已与下游客户开展接洽与合作，部分业务仍处于培育发展阶段，未来有 望 ...

Core Viewpoint - Hongya CNC announced the establishment of Guangdong Hongma in August 2025, aiming to absorb core technologies in solid wood furniture processing and further expand into the solid wood machinery sector [1] Group 1 - The establishment of Guangdong Hongma signifies the company's strategic move to enhance its product series in five-axis machining centers [1] - The initiative reflects the ongoing deepening of the company's strategic layout in the field of solid wood CNC equipment [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, primarily due to domestic market pressures and weak downstream demand, while showing growth in overseas markets. Financial Performance - In H1 2025, the company achieved revenue of 1.235 billion yuan, a year-on-year decrease of 17.22%, and a net profit attributable to shareholders of 242 million yuan, down 19.58%. The net profit after deducting non-recurring items was 204 million yuan, a decline of 29.29% [1] - In Q2 2025, the company recorded revenue of 581 million yuan, a year-on-year decrease of 27.50%, with a net profit of 110 million yuan, down 31.07%, and a net profit after non-recurring items of 97 million yuan, a decline of 38.13% [1] Operational Analysis - Domestic revenue in H1 2025 was 810 million yuan, reflecting a year-on-year decline of 25.79%, indicating short-term pressure due to weak domestic demand. The gross margin for the domestic market was 27.80%, down 2.08 percentage points year-on-year [2] - The new residential construction area in May to July 2025 showed a year-on-year decline of 17.5%, 13.2%, and 8.7%, respectively, with a narrowing decline in June and July, suggesting potential recovery in the second half of the year [2] - Overseas revenue in H1 2025 was 425 million yuan, an increase of 6.12% year-on-year, with a gross margin of 39.93%, up 3.67 percentage points. The company is actively participating in major overseas exhibitions and expanding its dealer network, focusing on markets in Europe, Southeast Asia, and the Middle East [2] Strategic Initiatives - The company is promoting automation upgrades in furniture manufacturing through its subsidiary, Xing Shi Robotics, which develops specialized robots for various manufacturing processes, aiming to enhance efficiency and market share [3] - Another subsidiary, Dan Chi Precision, focuses on high-precision gears and components for robotics and aerospace applications, positioning itself in the robotics and low-altitude economy sectors [3] Profit Forecast and Valuation - The company forecasts revenues of 2.536 billion yuan, 2.829 billion yuan, and 3.207 billion yuan for 2025 to 2027, with net profits of 484 million yuan, 561 million yuan, and 663 million yuan, respectively. The corresponding price-to-earnings ratios are projected to be 15, 13, and 11 times [4]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company reported a revenue of 1.235 billion yuan for H1 2025, a year-on-year decrease of 17.22%, with a net profit attributable to the parent company of 242 million yuan, down 19.58% year-on-year [2] - Domestic revenue for H1 2025 was 810 million yuan, reflecting a decline of 25.79% year-on-year, primarily due to weak downstream demand [3] - The company achieved overseas revenue of 425 million yuan in H1 2025, an increase of 6.12% year-on-year, indicating robust growth in international markets [3] Summary by Sections Performance Review - In H1 2025, the company achieved total revenue of 1.235 billion yuan, down 17.22% year-on-year, and a net profit of 242 million yuan, down 19.58% year-on-year [2] - Q2 2025 saw revenue of 581 million yuan, a decrease of 27.50% year-on-year, with a net profit of 110 million yuan, down 31.07% year-on-year [2] Operational Analysis - Domestic revenue faced pressure, with a reported 810 million yuan in H1 2025, down 25.79% year-on-year, attributed to weak demand [3] - The domestic gross margin for H1 2025 was 27.80%, a decline of 2.08 percentage points year-on-year [3] - The company is optimistic about overseas growth, with a gross margin of 39.93% in H1 2025, an increase of 3.67 percentage points year-on-year [3] Future Outlook - Revenue projections for 2025 to 2027 are estimated at 2.536 billion yuan, 2.829 billion yuan, and 3.207 billion yuan respectively, with net profits expected to be 484 million yuan, 561 million yuan, and 663 million yuan [5] - The company is focusing on automation upgrades in furniture manufacturing, which is expected to enhance market share [4]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company achieved a revenue of 2.694 billion yuan in 2024, a year-on-year increase of 0.43%, while the net profit attributable to the parent company was 517 million yuan, a decrease of 12.31% year-on-year [2] - The company is expected to benefit from national policies aimed at boosting domestic demand, which may lead to a stabilization and recovery in performance [2] - The overseas business continues to grow, with revenue reaching 915 million yuan in 2024, an increase of 12.68% year-on-year, and a significantly higher gross margin compared to domestic operations [3] - The company has a high self-manufacturing rate of core components exceeding 70%, which enhances product quality and shortens delivery times, contributing to long-term competitiveness [3] Summary by Sections Performance Overview - In 2024, the company reported a revenue of 2.694 billion yuan, with domestic revenue at 1.779 billion yuan, down 4.89% year-on-year [2] - The net profit attributable to the parent company was 517 million yuan, reflecting a decline of 12.31% year-on-year [2] Operational Analysis - The company is expected to leverage government policies to enhance domestic demand, particularly in the furniture machinery sector, which may lead to an upward performance trend [2] - The overseas market expansion is a key growth driver, with a gross margin of 36.70% for overseas operations compared to 29.89% domestically [3] - The company is diversifying its product offerings through acquisitions and new subsidiaries, enhancing its competitive edge [3] Profit Forecast and Valuation - Revenue projections for 2025-2027 are 3.008 billion yuan, 3.450 billion yuan, and 3.973 billion yuan, respectively, with net profits expected to be 608 million yuan, 720 million yuan, and 841 million yuan [4] - The corresponding price-to-earnings (P/E) ratios are projected to be 12, 10, and 8 times for the respective years [4]