Core Viewpoint - Shenzhen Wanxun Control Co., Ltd. reported a revenue of 499 million yuan for the first half of 2025, reflecting a year-on-year growth of 5.59%, demonstrating strong operational resilience despite industry challenges [1] Business Fundamentals - Wanxun Control, recognized as a national high-tech enterprise, has core products spanning three major sectors: industrial automation instruments, civilian instruments, and MEMS sensors, with applications in traditional industries like petroleum, chemical, and power, as well as emerging sectors such as renewable energy and smart cities [1] - The company capitalized on policy opportunities, particularly the national initiative to promote large-scale equipment updates, which stimulated demand for equipment renewal in downstream industries. The industrial automation instrument segment remained the main revenue contributor, with field instrument revenue increasing by 6.82% and pressure instruments and accessories revenue rising by 12.45% [1] R&D and Innovation - R&D is a core competitive advantage for Wanxun Control, with R&D investment consistently exceeding 7% of revenue. In the reporting period, R&D expenditure reached 464 million yuan, focusing on breakthroughs in MEMS sensors and smart instruments [2] - The company has established collaborations with top international institutions such as Fraunhofer and the University of Oxford, promoting the upgrade of products towards intelligence and IoT [2] - Wanxun Control has participated in drafting 82 national standards, including significant ones like "Safety of Industrial Automation and Control Systems" and "Electromagnetic Gas Emergency Shut-off Valve," laying a solid foundation for product quality and market expansion [2]

Core Viewpoint - Shenzhen Maxonic Automation Control Co., Ltd. reported a significant decline in net profit for the first half of 2025, with a net loss of approximately 11.71 million yuan, a decrease of 253.92% compared to the same period last year, despite a slight increase in revenue of 5.59% to approximately 499.37 million yuan [2][6]. Company Overview and Financial Indicators - The company is a national high-tech enterprise focused on the research, production, and sales of intelligent automation instruments and related solutions [3]. - The total assets at the end of the reporting period were approximately 1.69 billion yuan, an increase of 1.04% from the previous year [2]. Business Environment - The industry is expected to benefit from the optimization and upgrading of traditional manufacturing, as highlighted in the national development plans, which will drive demand for industrial automation instruments [3]. - The implementation of mandatory product certification (CCC certification) for gas detection and alarm products is expected to shift the industry focus from price competition to quality competition, enhancing product safety and reliability [3][5]. Main Business and Products - The company’s main products include industrial automation instruments, civil instruments, and MEMS sensors, applicable in various sectors such as petrochemicals, power, metallurgy, and emerging industries like aerospace and biopharmaceuticals [3][4]. - The company is actively developing MEMS sensors to align with industry trends towards miniaturization, multifunctionality, and integration [3]. Financial Performance - The company achieved a revenue of approximately 499.37 million yuan, with a gross profit margin of 42.96%, a decrease of 2.38 percentage points year-on-year [6]. - Operating expenses increased by 6.65% to approximately 22.04 million yuan, contributing to the net loss [6]. Competitive Advantages - The company has established a strong competitive barrier through technological innovation, brand recognition, and a comprehensive sales service network [6][7]. - It has maintained a high level of R&D investment, exceeding 7% of revenue, and has developed numerous patents to solidify its technological leadership [7]. Market Strategy - The company employs a combination of direct sales and distribution channels, establishing regional sales centers to enhance customer service and support [4][10]. - It has expanded its market presence into new sectors such as smart security and smart firefighting, leveraging its existing customer base in traditional industries [10]. Regulatory and Standardization Efforts - The company has participated in drafting 82 national standards related to industrial automation and safety, enhancing its influence and reputation in the industry [8][9].

证券简称：万讯自控 证券代码：300112 债券简称：万讯转债 债券简称：123112 2、领导，您好！在工业自动化控制领域，公司如何应对日 益激烈的市场竞争，保持技术优势？ 答：您好！公司坚定持续投入研发，以创新引领发展，不 断突破行业技术壁垒，提升产品技术水平，以确保市场竞争力： （1）坚持"自主创新+国际合作"双轨并行，加快关键核心技 术攻关，推动高端仪表国产化替代进程。通过引进国际先进技 术并进行本地化适配，结合自主研发突破"卡脖子"技术，提 升核心零部件和产品的自主可控能力。（2）组建高端智能自动 化仪表研究院，构建"预研一代、开发一代、量产一代"的梯 次创新体系。（3）深化产学研合作，构建产学研协同创新模式， 打造集"基础研究-技术开发-产业转化"于一体的创新联合体。 谢谢！ 3、公司连续三年一季度亏损，去年首亏。公司高层有没有 什么好的方法来提高公司的业绩？ 答：您好！公司将围绕未来发展战略，通过"平台化组织 +生态化运营"的新型管理模式，深化自主经营体改革，建立资 源共享机制，实现各业务单元协同发展。以技术创新为驱动引 擎，以生态协同为发展纽带，以数字化转型为战略支撑，持续 提升公司核心竞争力 ...