Core Viewpoint - The electromagnetic brake industry in China is experiencing significant growth driven by advancements in industrial automation, smart manufacturing, and the electric vehicle sector, with a projected market size of 21.695 billion yuan in 2024, reflecting a year-on-year increase of 9.08% [1][10]. Industry Overview - Electromagnetic brakes utilize electromagnetic force for stopping or holding motion, characterized by their compact structure, simple operation, and quick response time of 0.3 seconds [2][4]. - The industry has evolved through four main stages: initial development (1960s-1980s), scale-up (1990s-early 2000s), domestic replacement (early 2000s-2010), and the current phase of smart and green technology [4][5]. Market Size - The market for electromagnetic brakes is expanding due to the rapid development of industrial automation and electric vehicles, with a forecasted market size of 21.695 billion yuan in 2024, marking a 9.08% increase from the previous year [1][10]. Industry Development Trends 1. **Technological Innovation and Product Upgrading** - The industry is transitioning towards a technology-intensive model, with a focus on high precision, reliability, and smart features, driven by the demands of Industry 4.0 and smart manufacturing [19]. 2. **Diversification of Application Scenarios and Market Expansion** - The application of electromagnetic brakes is broadening, particularly in electric vehicles and rail transportation, which is driving market growth [20][21]. 3. **Industry Chain Integration and International Competition** - The industry is enhancing competitiveness through vertical integration of upstream materials and downstream applications, while also expanding internationally to capture emerging markets [22]. Key Companies - **Reidi Intelligent Drive**: A leading brand in the elevator sector, focusing on electromagnetic brakes and robotics, with plans for an IPO to fund expansion projects [15]. - **Asia Pacific Electromechanical Co., Ltd.**: A dominant player in the automotive brake system industry, achieving significant revenue growth [15]. - **Jiangxi Huawai Brake Co., Ltd.**: A key player in industrial braking systems, with a diverse product range and a strong export presence [17].

Core Insights - The company, 瑞迪智驱, is focused on sustainable and high-quality development through capital operations aligned with its overall strategic planning and market dynamics [2] Financial Performance - In Q1 2025, the company reported a main revenue of 139 million yuan, an increase of 6.14% year-on-year; however, the net profit attributable to shareholders decreased by 4.68% to 23.54 million yuan, and the net profit after deducting non-recurring gains and losses fell by 6.77% to 22.12 million yuan [7] Business Operations - The company's harmonic reducer products generated revenue of 34.24 million yuan in 2024, showing growth compared to 2023 [3] - There has been a slight change in the top 10 customers, which is a normal phenomenon due to market dynamics and business expansion; the company aims to optimize its customer structure and strengthen cooperation with quality clients [4] Strategic Planning - The company's competitive strategy focuses on two main areas: client-side and product-side. On the client-side, it targets leading quality clients to establish stable partnerships. On the product-side, it aims for "two wings steady + core upgrade" strategy, optimizing existing products and developing new ones to enhance market share [6] - The harmonic reducer is identified as the core of the company's future industrial upgrade, with an emphasis on accelerating independent research and development and achieving batch production for quality clients [6] Shareholder Engagement - The company is considering share buybacks and employee stock incentive plans based on actual conditions and will announce relevant updates in the future [5] Market Activity - Recent financing data indicates a net inflow of 57.99 million yuan in the past three months, with an increase in financing balance; however, there was no net inflow in securities lending [8]

证券代码：301596 证券简称：瑞迪智驱 成都瑞迪智驱科技股份有限公司 投资者关系活动记录表 编号：2025-006 | 投资者关系活动 | ☑特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 □其他（请文字说明其他活动内容） | | 参与单位名称及 | 中金财富证券共 人 2 | | 人员姓名 | | | 时间 | 2025 年 5 月 7 日 | | 地点 | 成都市双流区西航港大道中四段 号 909 | | 上市公司接待人 | 董事、董事会秘书、副总经理：刘兰 | | 员姓名 | 证券事务代表：朱亚兰 | | | 互动交流 | | | 1、对于资本运作公司是如何考虑的？ | | | 回复：公司的资本运作会紧密结合自身整体战略发展规划，同时密切关注 | | | 市场动态与潜在机遇，从提升企业价值、优化资源配置等方面综合考量，以推 | | | 动公司实现可持续、高质量发展。 | | 投资者关系活动 | 2、公司谐波减速机业务有无上涨？ | | | 回复：2024 年，公司谐波减速机产品实现收入 ...