机科发展科技股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 证券代码：835579 证券简称：机科股份 公告编号：2025-054 一、 投资者关系活动类别 □特定对象调研 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 14 日 活动地点：全景网"投资者关系互动平台"（http://ir.p5w.net） 参会单位及人员：通过网络方式参加公司 2024 年年度报告业绩说明会的投 资者 √业绩说明会 □媒体采访 问题一、请问公司在研发投入上有没有进一步提高的计划，如果有，重点 研发方向是什么？ 公司是科研院所转制而来的企业。在科技创新方面，公司始终坚守创新初心， 努力提升自主创新能力，发挥"专精特新"优势，当好科技创新国家队。公司近 年来持续加大研发投入，组建专项创新团队，集中资金突破重点项目和技术，就 国家、行业重大技术的发展情况多次进行研究和跟踪，以智能制造为抓手，多方 面激发科技创新动能，勇当 ...

Core Insights - The article highlights the significant development phase of smart factory construction in China, driven by the global shift towards intelligent manufacturing. The company, Juneng Robotics Co., Ltd. (stock code: 871478), plays a leading role in this transformation by providing customized solutions to help clients transition from automation to intelligence [1][2]. Group 1: Company Overview - Juneng Robotics aims to be "a factory of smart factories," equipping other factories with intelligent production lines. The company leverages over 20 years of experience in automation to create a comprehensive knowledge base and modular, standardized smart factory solutions [2]. - The company has been actively involved in the Ministry of Industry and Information Technology's (MIIT) smart factory gradient cultivation initiative, focusing on three main paths: deep technology application, full-chain value reconstruction, and green low-carbon transformation [2]. Group 2: Key Projects - Three major projects that Juneng Robotics participated in were recognized in the MIIT's first batch of 235 exemplary smart factories: 1. **Fasite**: A data-driven "dark factory" representing the highest level of smart manufacturing in the commercial vehicle transmission sector, contributing to breakthroughs in domestic AMT transmission technology [3]. 2. **Hande Axle**: A benchmark for new energy full-chain intelligent manufacturing, integrating automation, smart production lines, and digital systems for seamless collaboration across various operational stages [4]. 3. **China Coal Science and Technology Institute Chongqing**: Focused on the intelligentization of mining equipment, utilizing technologies like 5G and industrial robots to enhance efficiency and safety in the mining drilling industry [5]. Group 3: Industry Impact - As of the end of 2024, over 30,000 basic-level, 1,200 advanced-level, and 230 exemplary smart factories have been established in China, covering more than 80% of manufacturing categories. Exemplary factories have achieved significant improvements, including a 28.4% reduction in R&D cycles, a 50.2% decrease in defect rates, and a 20.4% reduction in carbon emissions [6]. - In response to the manufacturing industry's shift from mass production to customized responses, Juneng Robotics plans to launch a highly flexible intelligent production line at the 2025 China International Machine Tool Show, enabling unmanned operations for diverse product types [6].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company's performance is under short-term pressure due to increased expense ratios and higher impairment losses, leading to a net profit loss in 2024 [2] - The company continues to invest heavily in R&D, which supports the localization of CNC systems [6] - The revenue from the CNC systems and machine tools segment increased by 9.82% year-on-year, while the robotics and intelligent production line segment saw a significant decline of 36.39% [2] Financial Performance Summary - In 2024, the company achieved total revenue of 1.782 billion yuan, a year-on-year decrease of 15.71% [2] - The net profit attributable to the parent company was -55.37 million yuan, marking a significant decline compared to the previous year [2] - The gross profit margin for 2024 was 33.48%, an increase of 0.56 percentage points year-on-year [4] - The company reported a net cash flow from operating activities of 365 million yuan in 2024, an increase of 72.54% year-on-year [5] R&D and Innovation - The company increased its R&D expenditure to 323 million yuan in 2024, a year-on-year increase of 5.03% [6] - The company has developed the "Huazhong 10" intelligent CNC system, which integrates CNC machine tool mathematical models with AI data models to enhance processing precision and reduce processing cycles [6] Market Position and Valuation - The current market capitalization of the company is approximately 5.305 billion yuan, with a price-to-earnings ratio of 199.94 for 2023 and projected to decrease to 22.85 by 2027 [9][12] - The company is considered a rare asset in the high-end CNC system sector, justifying the "Accumulate" rating despite the short-term challenges [11]

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