报告发布方：中金企信国际咨询 项目可行性报告&商业计划书专业权威编制服务机构（符合发改委印发项目可行性研究报告编制要求）-中金企信国际咨询：集13年项目编制服务经验为各 类项目立项、投融资、商业合作、贷款、批地、并购&合作、投资决策、产业规划、境外投资、战略规划、风险评估等提供项目可行性报告&商业计划书编 制、设计、规划、咨询等一站式解决方案。助力项目实施落地、提升项目单位申报项目的通过效率。 （1）全直驱数控机床行业竞争格局分析：国外厂商在全直驱数控机床领域起步时间较早，20世纪90年代，日本、德国、瑞士等国家的部分机床企业已陆续 开始将直驱技术应用于数控机床。随着直驱技术的不断成熟以及制造业加工需求的提升，国外各类机床厂商，从"小而精"的高端品牌到"大而广"的知名品 牌，纷纷推出全直驱系列数控机床，作为核心产品参与市场竞争。在中国市场，日本沙迪克、日本牧野、日本安田、日本碌碌、瑞士GF、瑞士斯图特、德 国罗德斯、中国台湾大前等厂商全直驱数控机床销售额较大，占据了主要市场份额。 国产全直驱数控机床产业化进程落后于国外，在国外厂商普遍开始面向市场推广全直驱数控机床时，我国尚处于高校或科研院所与企业合力研发阶段 ...

Core Viewpoint - The company, Guangdong Keri Sui CNC Technology Co., Ltd., is seeking to go public on the Sci-Tech Innovation Board, highlighting its potential in the domestic market for direct-drive CNC machine tools, which is in urgent need of domestic alternatives. However, it currently faces significant accounts receivable and cash flow pressures [2][26]. Company Overview - Keri Sui CNC was established in March 2016 and completed its share reform in November 2022. The company is headquartered in Longhua District, Shenzhen, with its main production facility located in Dongguan [3]. - The actual controllers of the company are Meng Changmin and Wang Yun, who collectively hold 46.75% of the voting rights [3][4]. - The company has received investments from several institutions, including Dinghui and Longhua Industrial Fund [5][6]. Financial Performance - The company's revenue has shown growth, with reported figures of 222 million yuan, 254 million yuan, and 316 million yuan for the years 2022, 2023, and 2024, respectively. Net profits for the same years were 24.94 million yuan, 35.91 million yuan, and 64.06 million yuan [10][12]. - The total assets of the company reached approximately 1.01 billion yuan by the end of 2024, with a debt-to-asset ratio of 10.03% [11]. - The company’s gross profit margin has improved over the years, reaching 49.05% in 2024, attributed to increased self-manufacturing of key components [14][15]. Product and Market Position - Keri Sui CNC specializes in direct-drive CNC machine tools, with nearly 90% of its products used in precision molds, aerospace, and consumer electronics [8][12]. - The company’s product revenue structure shows that CNC machine tools account for approximately 72.74% of total revenue in 2024, while CNC systems contribute around 23.64% [12][13]. - The company ranks first among domestic manufacturers in the sales of direct-drive CNC machine tools in 2024 [26]. Industry Context - The direct-drive CNC machine tool market in China is expected to grow from approximately 4 billion yuan in 2023 to 13 billion yuan by 2029, indicating a strong demand for domestic alternatives [24][26]. - Currently, about 90% of high-end industrial mother machines in China are imported, highlighting a significant opportunity for domestic manufacturers like Keri Sui CNC [25][26]. - The global machine tool market has shown recovery, with a record high output value of 81.9 billion euros in 2023, reflecting a positive trend for the industry [22].

Core Viewpoint - Guangdong Kairui Sry CNC Technology Co., Ltd. (Kairui Sry) has changed its listing review status on the Shanghai Stock Exchange's Sci-Tech Innovation Board to "inquired," with plans to raise 719 million yuan [1] Company Overview - Kairui Sry is a leading domestic manufacturer of direct-drive CNC machine tools, possessing both PWM and bus-type CNC systems that have achieved scale sales [1] - The company's direct-drive CNC machine tools utilize self-developed PWM CNC systems, addressing the "bottleneck" issues in high-end machine tools [1] Market Position - Kairui Sry's CNC systems have sold over 20,000 sets, replacing mainstream systems from companies like Siemens and Fanuc, and have gained significant market recognition [2] - The U series PWM CNC system has broken the monopoly of Heidenhain in the Chinese machine tool market, positioning Kairui Sry as a key supplier alongside Heidenhain [2] Financial Performance - Projected revenues for Kairui Sry are approximately 222 million yuan, 254 million yuan, and 316 million yuan for the years 2022, 2023, and 2024, respectively [2] - Net profits for the same years are estimated at 24.94 million yuan, 35.91 million yuan, and 64.06 million yuan [2] Financial Metrics - Total assets are expected to reach 1.011 billion yuan by the end of 2024, up from 709.27 million yuan in 2023 and 580.51 million yuan in 2022 [3] - The company's net profit margin is projected to improve, with a basic earnings per share of 1.31 yuan for 2024, compared to 0.73 yuan in 2023 and 0.53 yuan in 2022 [3] - The research and development expenditure as a percentage of revenue is around 7.81% for 2024, indicating a consistent investment in innovation [3] Fundraising Plans - The funds raised will be allocated to various projects, including the construction of a CNC machine tool production base and the development of next-generation intelligent CNC systems, totaling an investment of approximately 718.55 million yuan [2]

Group 1 - The core point of the article is that Guangdong Kairui Stry Technology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board [1] - Kairui Stry is identified as a domestic enterprise specializing in direct-drive CNC machine tools [1]