证券日报网讯 崇德科技9月30日在互动平台回答投资者提问时表示，公司产品可以应用于风电设备。公 司已在国内率先实现了风电齿轮箱轴承"以滑代滚"的二代滑动轴承技术的大规模批量应用。为支撑此技 术，公司现已具备成熟的激光熔覆工艺，并建成了全球首条集激光熔覆、机械加工与检测等功能于一体 的全自动专业化生产线。该生产线致力于实现低成本、高可靠性的产品制造。此外，公司围绕风电滑动 轴承的研发与制造，已布局了多项发明专利，形成了自主知识产权体系。如，近期获得的"一种风力发 电机用轴承组件"专利，旨在提升轴电流绝缘效果与维护便利性；而"一种风电滑动轴承的制造方法"等 专利，则保障了轴承性能并优化了生产成本。 （编辑 任世碧） ...

Core Viewpoint - Chongde Technology (301548) reported a year-on-year increase in total revenue and net profit for the first half of 2025, indicating stable growth despite challenges in cash flow and receivables management [1][3]. Financial Performance - Total revenue for the first half of 2025 reached 283 million yuan, an increase of 8.59% compared to 261 million yuan in the same period of 2024 [1]. - Net profit attributable to shareholders was 66.28 million yuan, up 5.15% from 63.03 million yuan in the previous year [1]. - The second quarter alone saw total revenue of 163 million yuan, reflecting an 11.66% year-on-year growth [1]. - The gross profit margin decreased to 37.37%, down 3.77% from the previous year, while the net profit margin also fell to 23.49%, a decrease of 2.82% [1]. - Total expenses (selling, administrative, and financial) amounted to 22.94 million yuan, representing 8.1% of revenue, a reduction of 19.34% year-on-year [1]. Cash Flow and Receivables - The company experienced a significant decline in operating cash flow per share, which dropped by 89.2% to 0.05 yuan [1][3]. - Accounts receivable increased by 16.99% to 277 million yuan, with accounts receivable to net profit ratio reaching 239.65% [1][2]. Investment and Financial Management - Cash and cash equivalents decreased by 33.40% to 537 million yuan due to cash management activities [1][4]. - The company reported a 38.25% increase in trading financial assets, attributed to cash management [2]. - Investment activities saw a net cash flow decrease of 118.62%, primarily due to increased financial management expenditures [4]. Business Overview - Chongde Technology specializes in sliding bearing products and services, focusing on energy generation, industrial drive, petrochemicals, and marine sectors [6]. - The company is advancing high-end bearing product development in wind power and energy storage, aligning with national energy strategies [6].

Core Viewpoint - Chongde Technology (301548) reported a revenue of 283.30 million yuan for the first half of 2025, marking an 8.59% year-on-year increase, and a net profit attributable to shareholders of 66.28 million yuan, up 5.15% year-on-year, indicating enhanced core business competitiveness [1] Financial Performance - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares (including tax), totaling 17.31 million yuan in cash dividends [1] Technological Advancements - In the first half of 2025, Chongde Technology achieved multiple breakthroughs in technology research and development, with high-performance bearings successfully applied in the petrochemical sector, and continuous iterations of wind power sliding bearings solidifying cost advantages and reliability [2] - New product lines such as water-lubricated bearings and air-floating bearings are accelerating in research and industrialization, receiving initial recognition from customers [2] - PEEK bearings have achieved bulk supply in industries such as refrigeration, deep well pumping, and high-speed gearboxes, becoming a new growth point [2] - The company completed a new design of the production system and successfully relocated equipment, with the new workshop and intelligent team model now operational, significantly enhancing production efficiency and shortening delivery cycles [2] International Market Expansion - Chongde Technology's international strategy saw significant breakthroughs, with overseas revenue increasing by 14.58% and an overseas business gross margin of 50.04% [3] - The company successfully won multiple international client projects, expanding its global customer matrix [3] - A strategic acquisition agreement was signed with Germany's Levicron, marking the official operation of the European center, which will enhance the company's brand international influence and technical collaboration capabilities [3] - The company transitioned its business model from backend empowerment to proactive market engagement, providing comprehensive solutions to clients, marking a significant advancement in the commercialization of technology and creating a new competitive market model [3]

Core Viewpoint - The company reported a steady growth in revenue and net profit for the first half of 2025, despite facing external challenges such as international trade friction and industrial chain restructuring [4]. Financial Performance - The company achieved operating revenue of 283.30 million yuan, representing a year-on-year increase of 8.59% [4]. - The net profit attributable to shareholders reached 66.28 million yuan, reflecting a year-on-year growth of 5.15% [4]. Strategic Developments - The company is focused on a "one core, two wings" development strategy, emphasizing technological innovation, international expansion, and management upgrades [4]. - Internal reforms have been implemented to enhance operational efficiency, including organizational restructuring and performance management [5]. - A comprehensive upgrade of the production system has been completed, with new workshops and intelligent team models in operation, improving production efficiency and flexibility [6]. Technological Advancements - Significant breakthroughs in core technologies have been achieved, particularly in high-performance bearings and PEEK material applications, leading to successful market recognition [7]. - New product lines, such as water-lubricated and air-floating bearings, are being developed and recognized by customers, contributing to new growth points [7]. International Expansion - The company has seen a notable increase in international orders and has successfully secured multiple international client projects [8]. - A strategic acquisition agreement with Levicron has been signed, and the European center is now operational, enhancing the company's international brand influence and technical collaboration capabilities [8]. Future Outlook - The company plans to continue focusing on core technology breakthroughs, deepening international strategies, and improving management efficiency to drive sustainable growth and achieve annual targets [9].

Core Insights - The company reported a revenue of approximately 283 million yuan for the first half of 2025, representing a year-on-year growth of 8.59%, and a net profit attributable to shareholders of approximately 66.28 million yuan, up 5.15% year-on-year [2] - The global energy landscape is undergoing significant changes, with increased electricity consumption in data centers driven by rapid advancements in artificial intelligence, and a shift towards renewable energy in regions like Europe, leading to a heightened demand for stable and efficient power equipment [2] - The company is advancing its "one core, two wings" development strategy, focusing on technological innovation and global expansion [2] Technological Developments - The company achieved multiple breakthroughs in technology research and development, including successful applications of high-performance bearings in the petrochemical sector, further consolidation of cost advantages and reliability in wind power sliding bearings, and accelerated industrialization of innovative product lines such as water-lubricated and air-floating bearings [2] - PEEK bearings have been supplied in bulk to industries such as refrigeration, deep well pumping, and high-speed gearboxes [2] Manufacturing Management - The company completed a new design of its production system and successfully relocated equipment, with the new workshop and intelligent team model now operational [2] - A highly efficient discrete production model has been established, achieving refined management goals by reducing material variety while enhancing material information expression [2] International Market Performance - In the first half of 2025, the company's international strategy saw significant breakthroughs, with overseas revenue increasing by 14.58% and an overseas business gross margin of 50.04% [3] - The company successfully won multiple international client projects, expanding its global customer matrix [3] Business Model Transformation - The product line has successfully transitioned from a "backend empowerment" model to a "proactive market engagement" strategy, providing comprehensive solutions to clients [3] - The upgrade from a single product supply model to a "technology + service" comprehensive model has opened up new growth opportunities for the company [3] Future Outlook - The company plans to continue following its "one core, two wings" strategy, solidifying its core industry, building high-end brands with core products, and accelerating international market expansion to mitigate domestic competition pressures and create high-quality growth opportunities [3]

Core Viewpoint - The global energy landscape is undergoing significant changes, driven by advancements in artificial intelligence and a shift towards renewable energy, creating new market opportunities for competitive bearing companies like Chongde Technology [1] Group 1: Financial Performance - Chongde Technology reported a revenue of 283 million yuan, an increase of 8.59% year-on-year, and a net profit attributable to shareholders of 66.28 million yuan, up 5.15% year-on-year [1] - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares, totaling 17.31 million yuan [1] Group 2: Technological Advancements - The company achieved multiple breakthroughs in technology research and development, including successful applications of high-performance bearings in the petrochemical sector and continuous iterations of wind power sliding bearings [2] - New product lines such as water-lubricated bearings and air-floating bearings are accelerating in research and industrialization, gaining initial customer recognition [2] - Chongde Technology has redesigned its production system and implemented a new workshop and intelligent team model, significantly enhancing production efficiency and shortening delivery cycles [2] Group 3: International Market Expansion - Chongde Technology's international revenue grew by 14.58% year-on-year, with an overseas business gross margin of 50.04% [3] - The company successfully won multiple international client projects and signed a strategic acquisition agreement with Germany's Levicron, enhancing its global brand influence and technical collaboration [3] - The business model has shifted from backend empowerment to proactive market engagement, providing comprehensive solutions to clients and marking a significant advancement in marketization [3] Group 4: Strategic Direction - The domestic bearing industry is experiencing accelerated restructuring, with a shift from price competition to high-value creation, increasing customer demands for product reliability and advanced technology [4] - Chongde Technology aims to leverage its technological barriers and brand effects to expand market share, guided by its "one core, two wings" strategy [4] - The company plans to strengthen its core competitiveness in industrial bearings and international client development while seizing opportunities in global energy transition and equipment upgrades for high-quality growth [4]

Group 1: Company Overview - The main products and services include dynamic pressure oil film sliding bearings, wind power sliding bearings, high-speed permanent magnet motors, and industrial transmission services, focusing on energy generation, industrial drive, petrochemicals, and shipping sectors [2][3]. Group 2: Market Competition - The dynamic pressure oil film sliding bearing industry has a low overall market concentration, with the top ten global companies accounting for approximately 25% of the market size [4]. - The demand for low-performance bearing products is supplied by numerous small manufacturers, while high-performance bearings are primarily provided by leading international companies and domestic leaders like Chongde Technology [4][5]. Group 3: Financial Performance - In 2024, the company achieved a revenue of 518 million CNY and a net profit of 115 million CNY, with a non-recurring net profit of approximately 96.02 million CNY [6]. - In Q1 2025, the company reported a revenue of 121 million CNY and a net profit of approximately 27.81 million CNY [6]. - Revenue breakdown for 2024: - Industrial drive: 298 million CNY (57.64%) - Energy generation: 121 million CNY (23.31%) - Petrochemicals: 44 million CNY (8.41%) - Shipping: 26 million CNY (4.93%) - Other: 30 million CNY (5.70%) [6]. Group 4: International Business - The company’s international business, including direct exports and domestic factory support, has been growing rapidly, with direct export revenue reaching 80.68 million CNY in 2024, a year-on-year increase of 27.87% [7]. - Major export markets include South Korea, India, Singapore, Germany, France, Italy, and Spain [7]. Group 5: Nuclear Power Sector - The company has developed high-reliability sliding bearings for the nuclear power sector, significantly increasing its orders in recent years [8]. Group 6: PEEK Material Bearings - The company has mastered the synthesis technology for PEEK material in sliding bearings, which offers superior properties such as high temperature resistance and self-lubrication [9]. Group 7: Future Development Plans - The company aims to enhance the reliability of industrial bearings over the next three years, focusing on technological innovation and new material applications to achieve significant advancements in energy saving and consumption reduction [9].

Group 1: Company Overview - The main products and services include dynamic pressure oil film sliding bearings, wind power sliding bearings, high-speed permanent magnet motor products, and industrial transmission services, focusing on energy generation, industrial drive, petrochemicals, and shipping sectors [2] - In 2024, the company achieved operating revenue of CNY 518 million and a net profit attributable to shareholders of CNY 115 million [2] Group 2: Financial Performance - In Q1 2025, the company reported operating revenue of CNY 121 million and a net profit attributable to shareholders of CNY 27.81 million [2] - For 2024, revenue by industry shows: - Industrial drive: CNY 298 million (57.64%) - Energy generation: CNY 121 million (23.31%) - Petrochemicals: CNY 44 million (8.41%) - Shipping: CNY 26 million (4.93%) - Other: CNY 30 million (5.70%) [3] Group 3: International Business - The company’s international business, including direct exports and domestic factory support, has been growing rapidly, with direct export revenue reaching CNY 80.68 million in 2024, a year-on-year increase of 27.87% [4] Group 4: Nuclear Power Sector - The company has developed high-reliability sliding bearing solutions for the nuclear power sector, with a significant increase in orders for nuclear power bearings [5] Group 5: Dividend Policy - The company actively implements a cash dividend policy, prioritizing cash dividends over stock dividends, and may consider mid-term profit distributions under certain conditions [6] Group 6: Product Development - The company has established a research team for gas-lift bearings, focusing on a development model of "independent research + international cooperation + technology introduction" [7] Group 7: Capacity Utilization - The company has improved capacity utilization through optimization of production equipment, processes, and logistics, with plans for significant capacity increases as new projects come online [8]

Core Viewpoint - 崇德科技 has reported significant growth in revenue and profit for 2024, driven by its "one core, two wings" strategy focusing on the core business of dynamic pressure oil film sliding bearings while expanding into industrial services and international markets [1] Financial Performance - In 2024, the company achieved a revenue of 518 million yuan and a net profit attributable to shareholders of 115 million yuan, representing a year-on-year increase of 14.07% [1] - The net cash flow from operating activities reached 141 million yuan, up 170.83% year-on-year [1] - For Q1 2025, the company reported a revenue of 120 million yuan, a growth of 4.68% year-on-year, and a net profit of 27.81 million yuan [1] Industry Position and Innovation - 崇德科技 is recognized as a leading domestic manufacturer of dynamic pressure oil film sliding bearings, addressing the reliability challenges of bearings under high temperature and heavy load, thus breaking foreign technology monopolies [2] - The company has made significant advancements in the localization of key components, including overcoming challenges in the domestic production of third-generation nuclear power main pump bearings [2] International Market Expansion - The company has successfully entered the supply chains of international giants such as Siemens AG, GE, and ABB, with overseas revenue reaching 80.68 million yuan in 2024, marking a 27.87% increase [3] - 崇德科技 has established a European center to enhance local market sales and service capabilities, and has acquired 100% of German company Levicron to strengthen its international market presence [5] New Product Development - The company is actively expanding into new industries, focusing on wind power bearings, high-speed motors, and air-floating main shafts, achieving breakthroughs in these areas [4] - 崇德科技 has developed the second-generation wind power sliding bearings, which are positioned as industry-leading in design and manufacturing technology [4] Future Outlook - With the growth of downstream industries such as energy generation and petrochemicals, the demand for dynamic pressure oil film sliding bearings is expected to rise, positioning 崇德科技 for continued growth [6] - The company's strategic focus on innovation and international expansion is anticipated to enhance its competitive edge and facilitate the import substitution of key components [6]