证券日报网讯 2月13日，科德数控在互动平台回答投资者提问时表示，公司是国内极少数同时掌握高档 数控系统与高端数控机床双研发能力的上市企业，核心功能部件自主可控，产品在航空航天等战略领域 已实现批量化进口替代。公司凭借持续的高研发投入、完整的产业链布局、强劲的定制化能力、本土化 服务及数据安全等优势，在市场上形成差异化替代能力。公司坚持既定战略，脚踏实地推进研发攻关， 助力我国高端装备制造业高质量发展。 （文章来源：证券日报） ...

格隆汇2月13日丨科德数控(688305.SH)在互动平台表示，公司是国内极少数同时掌握高档数控系统与高 端数控机床双研发能力的上市企业，核心功能部件自主可控，产品在航空航天等战略领域已实现批量化 进口替代。公司凭借持续的高研发投入、完整的产业链布局、强劲的定制化能力、本土化服务及数据安 全等优势，在市场上形成差异化替代能力。公司坚持既定战略，脚踏实地推进研发攻关，助力我国高端 装备制造业高质量发展。 ...

资料显示，科德数控股份有限公司位于辽宁省大连经济技术开发区天府街1-2-1号1层，成立日期2008年 1月28日，上市日期2021年7月9日，公司主营业务涉及五轴联动数控机床、高档数控系统、关键功能部 件以及柔性自动化产线。主营业务收入构成为：自动化生产线53.66%，高端数控机床40.41%，其他销 售3.58%，关键功能部件2.15%，高档数控系统0.20%。 截至9月30日，科德数控股东户数1.32万，较上期增加31.88%；人均流通股10015股，较上期减少 24.17%。2025年1月-9月，科德数控实现营业收入4.00亿元，同比增长5.01%；归母净利润6392.82万元， 同比减少11.53%。 1月29日，科德数控跌2.52%，成交额1.41亿元。两融数据显示，当日科德数控获融资买入额1960.11万 元，融资偿还1567.76万元，融资净买入392.35万元。截至1月29日，科德数控融资融券余额合计3.98亿 元。 融资方面，科德数控当日融资买入1960.11万元。当前融资余额3.98亿元，占流通市值的4.86%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，科德数控1月29日 ...

Core Viewpoint - The company aims to deepen its autonomy in key sectors such as aerospace and energy by 2026, leveraging its technological and application expertise in the aerospace field to expand its presence in commercial aerospace [1] Group 1: Strategic Focus - The company plans to capitalize on opportunities arising from national strategic projects like domestically produced large aircraft, accelerating the development of its pilot test base and innovation center projects [1] - The company is committed to advancing five-axis CNC equipment solutions and their large-scale application in critical components such as fuselage structure parts, wings, and engine parts [1] Group 2: Market Expansion - The company is actively exploring applications of its products in emerging fields such as medical, semiconductor, low-altitude economy, and humanoid robots [1] - As the overall production capacity is released, the company will further promote the expansion of high-end CNC systems, key functional components, and after-sales services to continuously increase its market share [1]

Core Viewpoint - The company aims to deepen its autonomy in key sectors such as aerospace and energy by 2026, leveraging its technological expertise in aerospace to expand its presence in the commercial aerospace sector [1] Group 1: Strategic Focus - The company plans to capitalize on national strategic opportunities, such as the domestic large aircraft initiative, to enhance its industrial chain [1] - It is accelerating the development of pilot test bases and innovation centers to promote the application of five-axis CNC equipment in critical components like fuselage structure parts, wings, and engine components [1] Group 2: Product Expansion - The company is actively exploring applications of its products in emerging fields such as medical, semiconductor, low-altitude economy, and humanoid robots [1] - As the overall production capacity is released, the company will further advance its business in high-end CNC systems, key functional components, and after-sales services to continuously expand its market share [1]

Core Viewpoint - Kode CNC is one of the few companies in China that has established a dual R&D system for high-end CNC systems and five-axis high-end CNC machine tools, with a strong technical foundation in aerospace manufacturing [1] Group 1: Company Overview - Kode CNC has a deep technical accumulation in the aerospace manufacturing sector [1] - The company's products have been widely applied in dozens of user units under the China Aerospace Science and Industry Corporation and China Aerospace Science and Technology Corporation [1] Group 2: Industry Application - Kode CNC has participated in the manufacturing of various aerospace vehicles and their supporting systems, including launch vehicles and satellites [1]

Core Viewpoint - Kede CNC experienced a decline of 1.71% on November 14, with a trading volume of 80.67 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing Summary - On November 14, Kede CNC had a financing buy-in amount of 11.78 million yuan, while the financing repayment was 15.95 million yuan, resulting in a net financing buy of -4.18 million yuan [1]. - As of November 14, the total financing and securities lending balance for Kede CNC was 409 million yuan, which accounts for 5.17% of its circulating market value, indicating a high level of financing activity compared to the past year [1]. - The company had no securities lending repayment or sales on November 14, with a securities lending balance of 51,800 yuan and a remaining quantity of 8,562 shares, also reflecting a high level of activity [1]. Business Performance - As of September 30, Kede CNC reported a total revenue of 400 million yuan for the first nine months of 2025, representing a year-on-year growth of 5.01% [2]. - The net profit attributable to the parent company was 63.93 million yuan, showing a year-on-year decrease of 11.53% [2]. - The company's main business revenue composition includes 53.66% from automated production lines, 40.41% from high-end CNC machine tools, 3.58% from other sales, 2.15% from key functional components, and 0.20% from high-end CNC systems [1]. Shareholder Information - As of September 30, Kede CNC had 13,200 shareholders, an increase of 31.88% from the previous period, while the average circulating shares per person decreased by 24.17% to 10,015 shares [2]. - The cumulative cash distribution since the company's A-share listing amounts to 50.47 million yuan [3]. - Among the top ten circulating shareholders, Huaxia CSI Robotics ETF (562500) ranked as the ninth largest, holding 2.2035 million shares, an increase of 410,500 shares compared to the previous period [3].

Core Viewpoint - The company, Kede CNC, has reported a decline in revenue and net profit for Q3 2025, but has shown significant improvement in operating cash flow, indicating a potential recovery in financial health and market demand [1][2]. Financial Performance - In Q3 2025, Kede CNC achieved revenue of 106 million yuan, a year-on-year decrease of 15.79%, and a net profit of 14.87 million yuan, down 37.56% [1]. - For the first three quarters of 2025, the company reported total revenue of 400 million yuan, a year-on-year increase of 5.01%, while net profit decreased by 11.53% to 63.93 million yuan [1]. - The operating cash flow for the year-to-date period was 218 million yuan, a significant improvement from a negative cash flow of 19.74 million yuan in the same period last year [1]. Market Demand and Orders - Kede CNC has experienced a noticeable increase in orders in Q3 compared to Q2, driven by heightened market interest and increased inquiries from potential clients [2]. - The company has secured new collaborations in sectors such as medical, semiconductor, and low-altitude economy, alongside repeat purchases from existing customers [2]. - The new five-axis blade processing center, KTurboM1500, has attracted significant interest from new clients in the domestic large aircraft sector [2]. Product Development and Innovation - Kede CNC has successfully launched several new products this year, including the five-axis milling and grinding composite processing center, KTFMS200, which has been purchased by clients in the aerospace sector [2]. - The company has established a joint innovation center with AVIC to enhance domestic civil aircraft manufacturing technology and high-end CNC equipment [2]. - The development of axial flux motors is underway, with plans to release a prototype by early 2026, targeting applications in low-altitude economy, new energy vehicles, and humanoid robots [3].

Core Viewpoint - The establishment of the "Aviation Manufacturing - Kede CNC Excellence Innovation Center" marks a significant collaboration between Kede CNC and Shanghai Aircraft Manufacturing Company, focusing on advanced processing technologies and high-end equipment in the aerospace sector [1] Group 1: Partnership Details - Kede CNC's Chairman Yu Benhong and Shanghai Aircraft Manufacturing's Deputy General Manager Hu Xueying signed a cooperation agreement for the establishment of the Excellence Innovation Center [1] - This center is the first of its kind in China dedicated to metal cutting machine tools, indicating a strategic move to enhance domestic capabilities in aerospace manufacturing [1] Group 2: Focus Areas of Collaboration - The partnership will focus on advanced processing techniques for complex core components of large aircraft, high-end five-axis machine tools, advanced CNC systems, and flexible intelligent production lines [1] - The collaboration aims to drive research and transformation of new technologies, processes, and equipment, contributing to the upgrade of China's civil aircraft manufacturing technology and high-end CNC equipment [1]

Core Insights - The company reported a decline in revenue and net profit for Q3 2025, with revenue at 106 million yuan, down 15.79% year-on-year, and net profit at 14.87 million yuan, down 37.56% [1] - For the first three quarters of 2025, the company achieved revenue of 400 million yuan, a year-on-year increase of 5.01%, while net profit decreased by 11.53% to 63.93 million yuan [1] - The decline in Q3 net profit is attributed to reduced sales revenue and increased share-based payment expenses [1] Financial Performance - The company reported a significant improvement in operating cash flow, with a net cash flow of 218 million yuan for the year-to-date, compared to a negative 19.74 million yuan in the same period last year [2] - The improvement in cash flow is mainly due to increased cash receipts from sales and government research funding, along with reduced cash payments for goods and services [2] Product Development and Innovation - The company is focused on technological breakthroughs in five-axis CNC machine tools, high-end CNC systems, and key functional components, with a complete talent, technology, and industry chain [1] - The company is actively innovating in the development of axial flux motor products, which offer advantages such as compact structure and higher power output compared to traditional radial flux motors [2][3] - The five-axis machine tools are being utilized for precision components in humanoid robots, new energy vehicles, and aerospace applications, showcasing the company's adaptability to emerging industries [2][3] Market Position and Strategy - The company has established a dual R&D system for high-end CNC systems and machine tools, making it the only listed company in China with such capabilities [1] - The company has a broad application range for its products, enhancing its resilience and core competitiveness in various downstream industries [3] - Future plans include expanding the market share of high-end CNC systems and key functional components, leveraging the release of overall production capacity [3]