1月8日，顺德区企业上市工作大会举行，伊之密股份有限公司董事长甄荣辉受邀登台，以"从顺德出 发，迈向世界前三"为主题，分享了企业在上市十年间的战略长征与生态共荣。 伊之密股份有限公司董事长甄荣辉。 "2015年的成功上市为伊之密的发展带来了一个新的增长力量。"过去十年间借助资本市场的力量，实现 了规模、技术、人才、品牌的全方位支撑。作为扎根顺德、走向全球的上市企业，伊之密为企业上市升 级道路怎么走提供了样板。 清晰的战略目标是企业成长的基石。甄荣辉表示，伊之密始终聚焦三大主营业务领域，以"成为世界前 三品牌"为终极目标。"正是这样清晰的战略目标带来了清晰的增长率。"据悉，上市十年间，公司销售 收入增长接近5倍，净利润增长近10倍，在行业内稳居全国乃至世界前列。当下，伊之密的目标更为清 晰——到2028年，注塑机、压铸机进入全球前三，橡胶机进入全球前二。 8500吨的超大型注塑机、10000吨的超大型压铸机、6100吨的半固态镁合金注射成型机……大会现场， 甄荣辉通过大屏幕向参会人员展示了伊之密的傲人成果，他说道，这些"大国重器"不仅破解了新能源汽 车、航空航天等战略产业的技术痛点，更引领行业技术变革。而这些， ...

Core Viewpoint - The company, Yizhiming (伊之密), has demonstrated robust growth in its core business segments and is focusing on technological innovation and global expansion, as highlighted in its recent investor communication event [1]. Financial Performance - In the first three quarters of 2025, Yizhiming achieved a revenue of 4.306 billion yuan, representing a year-on-year increase of 17.21% [2] - The net profit attributable to shareholders reached 564 million yuan, with a growth of 17.45% compared to the previous year [2] - Revenue from injection molding machine sales was 3.098 billion yuan, up 18.42% year-on-year; die-casting machine revenue was 805 million yuan, an increase of 38.04%; and rubber machine sales amounted to 192 million yuan, growing by 15.73% [2] Research and Development - The company invested 200 million yuan in R&D during the first three quarters of 2025, a 9.55% increase from the same period last year [3] - Yizhiming has established a research team of over 900 members and holds 86 invention patents, with a total of over 400 various patent technologies [3] - The company successfully delivered the first domestic 6600-ton semi-solid magnesium alloy injection molding machine and received recognition for its A6 series intelligent injection molding machines and TP5 series in the high-end market [3] Global Operations - Yizhiming has set up subsidiaries in 12 countries and regions, with nearly 180 global service points [3] - The company leverages an industrial IoT platform to enhance equipment interconnectivity and data collaboration, providing predictive maintenance and remote services to improve operational efficiency globally [3] Recognition and Future Focus - Recently, Yizhiming was nominated for the fifth China Quality Award and recognized as a "National Enterprise Technology Center," with its Suzhou subsidiary also awarded as a "Provincial Enterprise Technology Center," reflecting its capabilities in high-end equipment R&D and industrialization [4] - The company aims to continue focusing on technology-driven and sustainable development, emphasizing innovation and quality to drive industry transformation and enhance customer value [4]

Core Insights - The company Yizhiming experienced a trading volume of 1.04 billion yuan on November 20, with a financing net buy of -3.90 million yuan, indicating a higher level of financing activity compared to the past year [1] - As of September 30, Yizhiming reported a revenue of 4.306 billion yuan, reflecting a year-on-year growth of 17.21%, and a net profit of 564 million yuan, also showing a growth of 17.45% [2] Financing and Margin Trading - On November 20, Yizhiming had a total financing and margin trading balance of 581 million yuan, with the financing balance accounting for 4.99% of the circulating market value, which is above the 90th percentile of the past year [1] - The company had a financing buy amount of 12.96 million yuan and a financing repayment of 16.86 million yuan on the same day, indicating a net outflow in financing [1] Shareholder Structure - As of September 30, the number of shareholders for Yizhiming increased to 30,400, with an average of 14,923 shares per shareholder, a slight decrease of 0.44% [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 25.55 million shares, which increased by 12.45 million shares compared to the previous period [2]

Group 1: Company Overview - The company operates in the molding equipment industry, focusing on high molecular materials and metal forming, with main products including injection molding machines, die-casting machines, and rubber machines [3] - The company has a strong emphasis on technological innovation and product development, particularly in the semi-solid magnesium alloy injection molding machine sector, which is designed for lightweight components in new energy vehicles [4] Group 2: Market Performance - The injection molding machine market saw a steady demand in 2023, with a recovery in industry prosperity compared to 2022, and the company’s sales growth outpaced the overall industry [4] - The company’s injection molding machine sales revenue has shown rapid growth, benefiting from government policies promoting industrial equipment upgrades [4] Group 3: Production Capacity - The company has multiple production facilities in China, including a headquarters and factories in Guangdong, with a total area exceeding 8,000 square meters for various machine types [5] - An overseas factory in Ohio, USA, and a facility in Gujarat, India, are operational, focusing on local production and support for HPM products [5][6] Group 4: Demand Trends - Domestic demand for injection molding machines remains robust, particularly in traditional sectors like home appliances and daily goods, while new energy vehicles and consumer electronics are driving higher demand for advanced models [8] - The die-casting machine market is experiencing growth in large integrated die-casting demand, with significant orders from leading new energy vehicle companies [9] Group 5: Global Expansion - The company has established a global presence with over 40 overseas distributors, covering more than 90 countries, and is focusing on local investments in key markets like India [11] - The company aims to enhance its international competitiveness by leveraging its dual-brand strategy with "YIZUMI" and "HPM" [11]

Core Viewpoint - Yizhiming is a leading equipment manufacturing company in China, focusing on the research and production of injection molding machines, die-casting machines, and other related equipment, with a strong technological and full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, Yizhiming reported revenue of 4.306 billion yuan, ranking 4th in the industry out of 89 companies, exceeding the industry average of 1.21 billion yuan and the median of 596 million yuan [2] - The net profit for the same period was 575 million yuan, also ranking 4th in the industry, higher than the industry average of 111 million yuan and the median of 34.37 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Yizhiming's debt-to-asset ratio was 61.60%, up from 55.93% year-on-year, and above the industry average of 42.80% [3] - The gross profit margin for Q3 2025 was 31.87%, lower than the previous year's 34.10%, but still above the industry average of 28.52% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 0.44% to 30,400, while the average number of circulating A-shares held per shareholder decreased by 0.44% to 14,900 [5] - The top circulating shareholder, Hong Kong Central Clearing Limited, held 25.55 million shares, an increase of 12.45 million shares from the previous period [5] Group 4: Future Outlook - The company plans to invest 374 million yuan to enhance smart manufacturing capabilities, with projected net profits for 2025-2027 estimated at 705 million, 833 million, and 979 million yuan, respectively [5] - Yizhiming is expected to maintain a compound annual growth rate of 18% in net profit over the next three years [6]

Summary of the Conference Call for Yizhiming (伊之密) Company Overview - **Company**: Yizhiming (伊之密) - **Industry**: Injection Molding and Die Casting Machinery Key Financial Performance - **Revenue**: Cumulative revenue for the first three quarters of 2025 reached 4.3 billion yuan, a year-on-year increase of 17.2% [2][3] - **Net Profit**: Net profit for the same period was 564 million yuan, up 17.45% year-on-year [2][3] - **Q3 Performance**: In Q3 2025, revenue was 1.56 billion yuan, a 19.2% increase year-on-year, with net profit at 220 million yuan, up 21.2% [3] Business Segments Injection Molding Business - **Order Growth**: Domestic orders showed strong growth in the first half, while overseas orders accelerated in Q3, returning to a normal growth state [4][6] - **Future Outlook**: The company holds a cautiously optimistic view on future domestic demand, while expecting significant growth in overseas markets, particularly in India, Southeast Asia, and South America [2][6] - **Market Share**: Despite challenges in the injection molding industry, the company has increased its market share through strategic positioning and innovation [10] Die Casting Business - **Revenue Growth**: The die casting business saw revenue growth close to 30%, with significant orders for magnesium alloy die casting equipment nearing 100 million yuan [2][7] - **Application Potential**: The equipment has substantial application potential in automotive, robotics, and low-altitude aircraft sectors [7] Strategic Initiatives - **New Facilities**: The company is investing in new facilities to align with its five-year strategic plan, targeting an overall revenue goal of approximately 8.6 billion yuan by 2028 [2][8][9] - **Capacity Expansion**: A large factory in Zhejiang Nanxun has been completed, which will significantly enhance production capacity [9] Pricing and Profitability - **Pricing Strategy**: The company has not implemented an overall price reduction strategy but maintains stable pricing with variations for different clients [5][13] - **Gross Margin**: The gross margin for injection molding is slightly higher than that of die casting, with rubber machinery having the highest gross margin [11] Market Dynamics - **Industry Challenges**: The injection molding industry is experiencing slow growth, with a compound annual growth rate of only around 3% since 2010 [10] - **Competitive Advantage**: Yizhiming's performance is attributed to its competitive capabilities and market share improvements rather than relying on industry growth [10] Future Product Development - **New Product Lines**: The A6 and SK3 series have shown strong market performance since their introduction, with the SK series currently outperforming the A series [16] - **Product Strategy**: The company follows a "launch one, develop one, prepare one" strategy for new product introductions [17] Additional Insights - **3D Printing**: Currently, industrial-grade 3D printing contributes only marginal revenue and is not a primary business focus, mainly suited for R&D and small batch production [18]

Core Insights - On October 22, Yizhiming's stock fell by 0.46%, with a trading volume of 139 million yuan [1] - The company reported a net financing purchase of 2.51 million yuan on the same day, with a total financing and securities lending balance of 523 million yuan [1] Financing Overview - On October 22, Yizhiming had a financing purchase of 19.11 million yuan, with a current financing balance of 514 million yuan, accounting for 4.60% of the circulating market value [1] - The financing balance is above the 80th percentile level over the past year, indicating a high level of financing activity [1] Securities Lending Overview - On October 22, Yizhiming repaid 900 shares in securities lending and sold 3,600 shares, amounting to a selling value of 85,800 yuan [1] - The remaining securities lending volume is 406,900 shares, with a balance of 9.69 million yuan, also above the 90th percentile level over the past year [1] Company Profile - Yizhiming Co., Ltd. is located in Shunde High-tech Zone, Foshan, Guangdong, established on February 6, 2004, and listed on January 23, 2015 [1] - The company's main business includes the design, research and development, production, sales, and service of injection molding machines, die-casting machines, rubber machines, high-speed packaging systems, molds, and robotic automation systems [1] - The revenue composition is as follows: injection molding machines 70.41%, die-casting machines 20.26%, others 4.98%, and rubber injection machines 4.35% [1] Financial Performance - As of June 30, the number of Yizhiming shareholders was 30,200, a decrease of 4.63% from the previous period [2] - For the first half of 2025, Yizhiming achieved a revenue of 2.746 billion yuan, a year-on-year increase of 15.89%, and a net profit attributable to shareholders of 345 million yuan, up 15.15% year-on-year [2] - Since its A-share listing, Yizhiming has distributed a total of 1.192 billion yuan in dividends, with 578 million yuan distributed in the last three years [2] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 13.0982 million shares, a decrease of 1.8615 million shares from the previous period [2] - Guotou Securities Co., Ltd. is the fourth-largest circulating shareholder, holding 8.47 million shares, an increase of 4.185 million shares from the previous period [2] - Dongfanghong Vision Value Mixed A (010714) is the eighth-largest circulating shareholder, holding 5.0434 million shares as a new shareholder [2]

Core Viewpoint - The stock of Yizhiming has shown a significant increase in price and trading activity, indicating positive market sentiment and potential growth in the company's financial performance [1][2]. Financial Performance - As of June 30, Yizhiming reported a revenue of 2.746 billion yuan, representing a year-on-year growth of 15.89% [2]. - The net profit attributable to shareholders for the same period was 345 million yuan, reflecting a year-on-year increase of 15.15% [2]. - Cumulatively, the company has distributed 1.192 billion yuan in dividends since its A-share listing, with 578 million yuan distributed over the past three years [3]. Stock Performance - Yizhiming's stock price increased by 34.49% year-to-date, although it has experienced a decline of 4.15% over the last five trading days [1]. - The stock was trading at 26.32 yuan per share with a market capitalization of 12.333 billion yuan as of September 29 [1]. Shareholder Structure - The number of shareholders decreased by 4.63% to 30,200 as of June 30, with an average of 14,989 shares held per shareholder, an increase of 4.86% [2]. - Major shareholders include Hong Kong Central Clearing Limited and Guotou Securities, with changes in their holdings noted [3].

Group 1 - The company, Yizhiming (300415), primarily produces injection molding machines, die-casting machines, and rubber machines [1] - These products are utilized in the manufacturing of plastic structural components and aluminum-magnesium alloy structural components [1]

Group 1 - The core inquiry from investors is whether there has been significant procurement of equipment related to robots from Yizhiming (300415.SZ) this year [2] - Yizhiming stated that its main products include injection molding machines, die-casting machines, and rubber machines, which are used for producing plastic structural parts and aluminum-magnesium alloy structural parts [2]