思进智能分析师会议 调研日期：2025年09月12日 调研行业：通用设备 参与调研的机构：通过价值在线(www.ir-online.cn)参与公司 2025年半年度业绩说明会的全体投资者等 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | | | 例体位次数 4 | 24/40 33 | | FININ EXIAN, BENN, LEWI | | | 極力集团 | | | · 例计以上的 8 | 品机构管 23 | 构市场到断信记 / 机构调研pr ...

Core Viewpoint - The company held a performance briefing for the first half of 2025, discussing strategies to enhance competitiveness and address declining net profits [1] Group 1: Performance and Financials - In the first half of 2025, the company reported operating revenue of 334.55 million yuan, a year-on-year increase of 7.28% [1] - The net profit attributable to shareholders was 72.03 million yuan, a year-on-year decrease of 40.31%, primarily due to a significant drop in non-operating gains [1] - The net profit excluding non-recurring gains was 69.11 million yuan, reflecting an increase of 8.76% year-on-year [1] Group 2: Strategic Initiatives - The company plans to enhance competitiveness through four main strategies: increasing R&D investment, expanding production capacity, improving marketing and after-sales service, and strengthening investor relations [1] - A new multi-station precision warm forging intelligent forming equipment project is expected to be completed by 2025, aimed at accelerating delivery of heavy equipment [1] Group 3: Market and Business Development - The company is focusing on the development of intelligent cold forming equipment and expanding into downstream markets [1] - In the first half of 2025, overseas sales accounted for 17.64% of total sales, with a focus on markets in India and Thailand [1] - The company reported that contract liabilities increased by approximately 19.96% compared to the end of the previous year, with effective orders amounting to about 360 million yuan as of June 30, 2025 [1] Group 4: Challenges and Future Outlook - The company faces challenges in expanding production capacity to meet heavy equipment order delivery timelines, with three production bases currently operational [1] - The company is also exploring merger and acquisition opportunities within the industry to enhance product value [1]

Group 1: Company Performance and Financials - In the first half of 2025, the company achieved revenue of RMB 334.55 million, a 7.28% increase from RMB 311.86 million in the same period last year [3][5] - The net profit attributable to shareholders decreased by 40.31% to RMB 72.03 million from RMB 120.68 million year-on-year [5] - The net profit excluding non-recurring gains and losses was RMB 69.11 million, an 8.76% increase from RMB 63.55 million in the previous year [5] Group 2: Business Strategy and Development - The company plans to enhance core competitiveness through increased R&D investment, capacity expansion, improved marketing, and after-sales service [3][4] - A new manufacturing project for multi-station precision warm forging equipment and integrated large-scale die-casting equipment is under construction on a 63.818-acre site, expected to be completed in 2025 [4][12] - The company aims to maintain a focus on its main business while exploring new product development in intelligent, high-station, large-diameter, and environmentally friendly cold forming equipment [9][11] Group 3: Market Expansion and Sales - As of the first half of 2025, overseas sales accounted for 17.64% of total sales, with key markets including India, Thailand, Turkey, and Brazil [8] - The company is actively participating in international exhibitions and industry conferences to strengthen its presence in overseas markets [8] Group 4: Product Development and Innovation - The SJHF series of multi-station precision warm forging equipment has entered the trial production phase, with successful testing of the SJHBF-502L prototype [6][13] - The company has produced high-strength hexagonal bolts (M42×420) weighing approximately 5.5 kg using the new equipment [7][13] - Revenue from applications in the new energy and traditional automotive sectors was approximately RMB 289.78 million in 2024, accounting for 46.28% of total revenue [8] Group 5: Challenges and Future Outlook - The company faces challenges in expanding production capacity to meet the growing demand for customized heavy equipment [12] - As of June 30, 2025, the company had an order backlog of approximately RMB 360 million, indicating strong future revenue potential [10][12]

Group 1: Company Performance and Strategy - The company reported a revenue of approximately RMB 1.63 billion for Q1 2025, representing a year-on-year growth of 10.45% [11] - The net profit attributable to shareholders was about RMB 40.13 million, an increase of 14.45% compared to the previous year [11] - The company aims to strengthen R&D innovation, expand production capacity, and enhance marketing and after-sales service capabilities to maintain its leading position in the domestic market [3][11] Group 2: Production and Capacity Expansion - The company acquired a 42,545 square meter land parcel for RMB 63.18 million in December 2022, intended for manufacturing multi-station precision thermal forging equipment and integrated large intelligent die-casting equipment [4][15] - The construction of the new production base is expected to be completed by 2025, with a focus on producing customized heavy equipment to accelerate order delivery [4][15] - Currently, the company has three production bases, with one already operational since June 2022 [4][5] Group 3: Market and Industry Position - The company holds approximately RMB 293 million in effective orders as of December 31, 2024, indicating a robust order backlog [6] - The company is the first publicly listed firm in the cold forming equipment manufacturing sector in A-shares, facing competition primarily from non-listed companies [10][11] - The cold forming equipment industry is characterized by a three-tier competitive landscape, with international firms dominating the high-end market [11] Group 4: Future Growth and Development - Future product development will focus on intelligent, high-station, large-diameter, and environmentally friendly cold forming equipment [12][13] - The company is working on breaking the reliance on imported precision thermal forging equipment, aiming to meet domestic market needs for complex parts [13] - The revenue from industrial robot applications is currently small, accounting for approximately RMB 4.14 million, or 0.66% of total revenue for 2025 [8]