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拓邦股份(002139):营收持续增长,智能汽车及机器人业务良好发展
Tianfeng Securities· 2025-08-27 11:44
我们的点评如下: 公司报告 | 半年报点评 拓邦股份(002139) 证券研究报告 营收持续增长,智能汽车及机器人业务良好发展 事件:公司发布2025 年半年报,25H1 实现收入55.02 亿元,同比增长9.70%, 归母净利润 3.30 亿元,同比下降 15.11%,扣非归母净利润 3.10 亿元,同 比下降 16.87%;毛利率为 22.55%,同比下降 1.35pct。 工具与家电业务稳健增长 2025H1 工具与家电毛利率 22.22%,同比下降 1.98pct。2025H1 工具板块实 现收入 20.79 亿元,同比增长 5.67%。公司通过提升核心客户响应速度、 加速创新研发,满足客户技术升级与功能创新需求,推动核心品类稳健增 长。公司积极推进下游客户与产品品类拓展,与部分日系及国内头部客户 合作进展顺利,并形成新的增量贡献。公司通过全球化供应链灵活调配, 快速响应客户需求,有效缓解了交货周期等因素带来的阶段性影响。 2025H1 家电板块实现销售收入 22.98 亿元,同比增长 27.60%。公司在家电 领域深耕智能控制底层核心技术,已构建"硬件设计+底层软件+云服务+AI 算法"的全栈技术能 ...
拓邦股份(002139) - 002139拓邦股份投资者关系管理信息20250825
2025-08-25 10:46
2025 年 8 月 24 日投资者关系活动记录表 编号:2025007 证券代码:002139 证券简称:拓邦股份 深圳拓邦股份有限公司 | | 特定对象调研 | 分析师会议 | | --- | --- | --- | | 投资者关系 | 媒体采访 | 业绩说明会 | | 活动类别 | 新闻发布会 | 路演活动 | | | 其他: | | | | 月 8 24 花旗银行,Point 72,中金公司,天风证券,招商证券,中信证券,由榕 | 日:20:00—21:00(电话会议) | | | 咨询,中信建投,浙商证券,英大信托,国泰君安资管,泉果基金,国 | | | 参与单位名 | 联基金,中国人保,广东恒健,Pleiad Investment Advisors Limited,正圆 | | | 称、时间 | 投资,同泰基金,永赢基金,南方基金,君和资管,玄卜投资,兴业基 | | | | 金,圆信永丰,睿谷投资,兴银理财,中银三星,钜米资本,中冀投资, | | | | Limited,银华基管、明见投资、东兴基金、 Willing Capital | Management | | | 恒泰证券 | ...
拓邦股份20250824
2025-08-24 14:47
Summary of TuoBang Co., Ltd. Conference Call Company Overview - **Company**: TuoBang Co., Ltd. - **Date**: August 24, 2025 Key Points Financial Performance - **Revenue Growth**: Revenue increased by approximately 10% to 5.5 billion CNY [2] - **Net Profit**: Net profit decreased by 15.1% due to equity incentive expenses, amounting to 330 million CNY; adjusted net profit was 383 million CNY, flat compared to the previous year [2][8] - **Home Appliance Segment**: Contributed significantly to revenue, growing by 16.15% to around 4.4 billion CNY [2][9] Industry Context - **Global Trade and Financial Volatility**: The company has mitigated impacts through product innovation, structural optimization, and overseas expansion, maintaining a leading position in the global market [2][6] - **Technology Sector Outlook**: The technology sector is expected to experience significant growth opportunities from 2025 to 2027, driven by low valuations and a major technological transformation [3] Business Segments Performance - **Smart Controllers**: Gross margin at 22%, with the home appliance market growing nearly 30% and tools market at approximately 5.7% [10] - **Digital Energy**: Experienced a 33% revenue decline, focusing on innovation and building a comprehensive product ecosystem [2][13] - **Smart Automotive**: High growth expected, with significant market share in laser radar motors and charging stations [5][19] Strategic Initiatives - **AI Integration**: The company plans to embrace AI technology across various applications, enhancing product offerings and capturing new market opportunities [20][21] - **Home Appliance Strategy**: A dual strategy of "defense and offense" to consolidate traditional advantages while expanding into AI and smart home sectors [12] - **Tool Segment Strategy**: Focus on electric and cordless trends to increase market penetration and capture high-value growth opportunities [11] Market Dynamics - **Domestic Competition**: The domestic market is competitive, but the company aims to maintain cost advantages and high-value creation [24][25] - **Overseas Operations**: Challenges exist in overseas operations due to high costs, but a gradual shift to overseas production is planned [26] Future Outlook - **Growth Expectations**: The company anticipates a rebound in digital energy and rapid growth in new businesses, with a focus on maintaining a healthy balance between expansion and sustainable growth [30][31] - **Profit Margin Recovery**: Expected improvements in profit margins due to cost reduction, efficiency enhancements, and new product launches [29] Additional Insights - **Customer Base**: The company has established deep collaborations with leading global clients, particularly in the home appliance sector [17][28] - **Emerging Technologies**: The integration of AI in power management and cooling solutions is seen as a significant opportunity for future growth [22][23] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting TuoBang Co., Ltd.'s performance, market positioning, and future growth strategies.
江苏雷利:公司的组件可用于灵巧手中 实现高精度、高响应的末端操作
Zheng Quan Shi Bao Wang· 2025-05-21 06:13
Core Viewpoint - Jiangsu Leili is advancing its layout in the humanoid robot sector while maintaining strong growth in its core micro motor and component business, despite a slight decline in net profit in 2024 [1][2]. Financial Performance - In 2024, the company achieved revenue of 3.519 billion yuan, a year-on-year increase of 14.38%, while net profit attributable to shareholders was 294 million yuan, a decrease of 7.14%. The net profit excluding non-recurring items was 301 million yuan, an increase of 3.53% [1]. - In Q1 2025, the company reported revenue of 908 million yuan, a year-on-year increase of 25.81%, and net profit attributable to shareholders of 94 million yuan, up 28.15% [1]. Product Development and Innovation - Jiangsu Leili has adopted an "Electric Motor+" strategy, expanding its product offerings to include precision gearboxes, sensors, and drive control systems, with several new products entering mass production in non-home appliance sectors in 2024 [1][2]. - The company has developed a comprehensive motion control system solution for humanoid robots, including linear joints, rotary joints, and dexterous hands, and is focusing on high-precision sensors and control components through external investments and collaborations [2][3]. Strategic Partnerships - Jiangsu Leili has established a partnership with Blue Technology, a leading quadruped robot company in China, to supply joint actuators for quadruped robots and enhance resource integration for product development and cost reduction [3]. Global Expansion and Market Strategy - The company is enhancing its overseas production capacity and sales network to mitigate the impact of U.S.-China trade tensions, with approximately 18% of its revenue coming from the U.S. market in 2024 [4]. - Jiangsu Leili has established R&D and manufacturing bases in North America, Europe, Southeast Asia, South Korea, and Hong Kong, with a completed expansion of its Vietnam factory and a new factory in Mexico set to begin production in 2025 [4].
江苏雷利(300660) - 300660江苏雷利投资者关系管理信息20250520
2025-05-20 09:44
Group 1: Financial Performance - In 2024, the company achieved revenue of 3.519 billion yuan, a year-on-year increase of 14.38% [9] - The net profit attributable to shareholders was 294 million yuan, a year-on-year decrease of 7.14%, while the net profit excluding non-recurring items was 301 million yuan, an increase of 3.53% [9] - In Q1 2025, the company reported revenue of 908 million yuan, a year-on-year increase of 25.81%, and a net profit of 94 million yuan, a year-on-year increase of 28.15% [9] Group 2: Growth Drivers - The company is focusing on emerging fields such as industrial intelligence and smart driving, with significant growth in automotive components and industrial control sectors, achieving revenue growth of 30.42% and 24% respectively in 2024 [2] - New products like laser radar motors, precision aluminum die-casting, and energy-efficient industrial motors are expected to contribute to future profit growth [2] - The company has adopted an "Electric Motor+" strategy, expanding its product offerings to include precision gearboxes, sensors, and drive control systems [4] Group 3: Market Strategy - The company is enhancing its overseas production capacity to mitigate the impact of trade uncertainties, with approximately 18% of its revenue coming from the U.S. market in 2024 [9] - New manufacturing bases in Vietnam and Mexico are operational to ensure stable supply for North American clients [9] - The company is also developing strategic partnerships, such as with Blue Technology in the quadruped robot sector, to enhance its competitive edge [10] Group 4: Industry Outlook - The company expresses confidence in the electric motor and drive system industry, driven by trends in automation and energy efficiency [3] - The demand for high-efficiency motors is expected to grow due to national policies promoting energy conservation [3] - The company is leveraging technological advancements and ecological collaboration to seize opportunities in green transformation and smart manufacturing [3]
【私募调研记录】复胜资产调研江苏雷利
Zheng Quan Zhi Xing· 2025-04-30 00:10
Group 1 - The core viewpoint of the news is that Jiangsu Leili and Dingzhi Technology are focusing on product development and market expansion despite facing challenges in revenue and profit growth [1] - Jiangsu Leili is projected to achieve a revenue of 3.519 billion yuan in 2024, representing a year-on-year growth of 14.38%, while its net profit is expected to decline by 7.14% to 294 million yuan [1] - The automotive parts segment of Jiangsu Leili is performing well, with significant revenue growth from new products such as laser radar motors and head-up display motors [1] Group 2 - Dingzhi Technology is expected to generate a revenue of 224 million yuan in 2024, which is a decrease of 20.80% year-on-year, but anticipates substantial growth in revenue and profit in the first quarter of 2025 [1] - Dingzhi Technology's product offerings in the industrial control sector include brushed and brushless hollow cup motors, and the company is establishing a joint venture to focus on low-voltage micro servo controllers [1] - Both companies are mitigating the impact of tariff policy changes through overseas capacity construction and global sales networks, with Jiangsu Leili also advancing its product development in laser radar and electric steering systems [1]
江苏雷利(300660) - 300660江苏雷利投资者关系管理信息20250429
2025-04-29 08:46
Group 1: Company Performance Overview - Jiangsu Leili achieved a revenue of 3.519 billion CNY in 2024, a year-on-year increase of 14.38% [1] - Net profit attributable to shareholders was 294 million CNY, a decrease of 7.14% year-on-year, while the net profit excluding non-recurring items was 301 million CNY, an increase of 3.53% [1] - The company proposed a cash dividend of 3.2 CNY per 10 shares (including tax) and a capital reserve conversion of 4 shares for every 10 shares [1] - The total cash dividends distributed in 2024 amounted to 166 million CNY, with a payout ratio of 56.4% [1] Group 2: Segment Revenue Breakdown - Home appliances segment generated 2.159 billion CNY, up 12.75% year-on-year [1] - Automotive parts segment revenue reached 612 million CNY, a significant increase of 30.42% [1] - Industrial control segment reported 419 million CNY, growing by 24.00% [1] - Medical and sports health segments achieved revenues of 240 million CNY, with a modest growth of 2.71% [1] Group 3: Q1 2025 Performance - In Q1 2025, Jiangsu Leili reported a revenue of 908 million CNY, reflecting a year-on-year growth of 25.81% [1] - Net profit attributable to shareholders for Q1 2025 was 93.5971 million CNY, an increase of 28.15% year-on-year [2] Group 4: Dingzhi Technology Performance - Dingzhi Technology's revenue in 2024 was 224 million CNY, down 20.80% year-on-year, with a net profit of 38.7 million CNY, a decline of 52.17% [3] - The company distributed a cash dividend of 2 CNY per 10 shares (including tax) and a capital reserve conversion of 4 shares for every 10 shares, totaling 26.89 million CNY in cash dividends with a payout ratio of 69.5% [3] - In Q1 2025, Dingzhi Technology achieved a revenue of 58.795 million CNY, up 35.76% year-on-year, with a net profit of 12.6505 million CNY, a significant increase of 135.75% [3] Group 5: Future Development and Product Strategy - Jiangsu Leili is focusing on the development of micro-motors and components for new energy vehicles, emphasizing smart driving technology [4] - The company is expanding its product offerings in industrial control and intelligent sectors, aiming for continuous rapid growth in these areas [5] - Dingzhi Technology is enhancing its precision motion control product platform and aims to transition from a component manufacturer to a precision motion control system integrator [6]